{"id":557701,"date":"2021-09-29T04:00:19","date_gmt":"2021-09-29T04:00:19","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/?post_type=issue&#038;p=557701"},"modified":"2025-12-16T01:47:34","modified_gmt":"2025-12-16T01:47:34","slug":"enterprise-abu-aufs-parent-company-eyes-ipo-of-up-to-49-in-2q2022","status":"publish","type":"issue","link":"https:\/\/enterpriseam.com\/egypt\/issues\/enterprise-abu-aufs-parent-company-eyes-ipo-of-up-to-49-in-2q2022\/","title":{"rendered":"Enterprise Abu Auf\u2019s parent company eyes IPO of up to 49% in 2Q2022"},"content":{"rendered":"<section id=\"557703\" 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=\"557703\">\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\/29\/this-morning-the-stock-sell-off-accelerated-yesterday-asian-markets-are-following-suit-this-morning-white-house-natsec-advisor-in-cairo-today\/\">\r\n                            THIS MORNING: The stock sell-off accelerated yesterday + Asian markets are following suit this morning; White House natsec advisor in Cairo today.                        <\/a>\r\n                    <\/h3>\r\n\r\n                    \r\n\t\t\t\t\t\n<div class=\"cta\">\n    <div class=\"cta__btn share-dropdown-cta dropdown-toggle-btn\" style=\"position:relative\">\n        <img decoding=\"async\" src=\"https:\/\/ent.news\/internal\/408834.svg\" alt=\"\">\n        Share Story\n        <!-- Dropdown Menu -->\n        <ul class=\"share-menu\">\n            <li class=\"list-inline-item\">\n                <a href=\"https:\/\/enterpriseam.com\/egypt\/2021\/09\/29\/this-morning-the-stock-sell-off-accelerated-yesterday-asian-markets-are-following-suit-this-morning-white-house-natsec-advisor-in-cairo-today\/\" target=\"_blank\">\n                    Open in new tab                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/new-tab.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a href=\"#\" target=\"_blank\" onclick=\"event.preventDefault(); 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White House natsec advisor in Cairo today.&url=https:\/\/enterpriseam.com\/egypt\/2021\/09\/29\/this-morning-the-stock-sell-off-accelerated-yesterday-asian-markets-are-following-suit-this-morning-white-house-natsec-advisor-in-cairo-today\/\">\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\/29\/this-morning-the-stock-sell-off-accelerated-yesterday-asian-markets-are-following-suit-this-morning-white-house-natsec-advisor-in-cairo-today\/&title=THIS MORNING: The stock sell-off accelerated yesterday + Asian markets are following suit this morning; White House natsec advisor in Cairo today.\">\n                    LinkedIn                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/linkedin-icon.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a href=\"https:\/\/api.whatsapp.com\/send?text=THIS+MORNING%3A+The+stock+sell-off+accelerated+yesterday+%2B+Asian+markets+are+following+suit+this+morning%3B+White+House+natsec+advisor+in+Cairo+today.+https%3A%2F%2Fenterpriseam.com%2Fegypt%2F2021%2F09%2F29%2Fthis-morning-the-stock-sell-off-accelerated-yesterday-asian-markets-are-following-suit-this-morning-white-house-natsec-advisor-in-cairo-today%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\/29\/this-morning-the-stock-sell-off-accelerated-yesterday-asian-markets-are-following-suit-this-morning-white-house-natsec-advisor-in-cairo-today\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-557703\" class=\"content-area-description single-story post-557703 post type-post status-publish format-standard hentry category-what-were-tracking-today tag-bonds tag-elizabeth-warren tag-energy tag-enterpriseam tag-equities tag-global-markets tag-inflation tag-oil-and-gas tag-stagflation tag-treasuries tag-us-federal-reserve 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>We don\u2019t literally ring a bell around here every time a company announces it will IPO on <\/strong><strong>the Egyptian Exchange<\/strong>, but that doesn\u2019t mean we\u2019re not doing it in our heads. So welcome to the folks at Abu Auf parent company AUF, which said yesterday it would offer up to 49% of the company for sale in a market debut expected in 2Q2022. We have chapter and verse in this morning\u2019s Speed Round, below.<\/p><p><strong>The Abu Auf news is a great way to bid farewell to Q3<\/strong>, which comes to an end at COB tomorrow. Anyone else both delighted to see the back of 2021 (given it\u2019s 2020 with better clothing and new lipstick) and amazed it has passed so fast?<\/p><p><strong>THE BIG STORY THIS MORNING is not in Egypt, but abroad <\/strong>as market watchers take stock of yesterday\u2019s carnage on Wall Street. The bears are looking for signs that their dreams have (at last) come true, while the bulls are churning out pablum designed to reassure each other that their crazy-long ride really isn\u2019t coming to an end.<\/p><p><strong>US shares had their worst day yesterday since May<\/strong> as the S&amp;P 500 shed 2%, with the <a href=\"https:\/\/www.ft.com\/content\/7541c364-736b-488b-a793-7ba5cf517f49\">Financial Times<\/a> suggesting that \u201cthe prospect of the world\u2019s leading central banks moving more aggressively to stamp out inflation rattled financial markets on Tuesday.\u201d We have the scoop in this morning\u2019s Planet Finance, below.<\/p><p><strong>How are markets doing this morning? Not great. <\/strong>Major indexes across Asia are in the red, with the Nikkei down 2.5%, Shanghai off 1.2% and the Hang Seng also in the red. The Kospi is down nearly 2.0%. <strong>Futures suggest a mixed open in Europe later this morning<\/strong> \u2014 and that traders on Wall Street may try to stage a comeback, with the Nasdaq, S&amp;P and Dow all looking to start the day lightly in the green.<\/p><p><strong>Don\u2019t worry, bears: US lawmakers will give you plenty to chew over in the days to come<\/strong>, with Treasury Secretary Janet Yellen telling Congress yesterday that the US risks running out of money by 18 October if politicians don\u2019t raise or suspend the federal government\u2019s borrowing limit. The story is getting plenty of coverage on the front pages of the <a href=\"https:\/\/www.wsj.com\/articles\/yellen-says-treasury-could-exhaust-cash-reserves-by-oct-18-if-debt-limit-isnt-raised-11632835248\">Wall Street Journal<\/a> and the <a href=\"https:\/\/www.ft.com\/content\/dc589573-0284-409e-a3df-9a4b102569ac\">Financial Times<\/a> and also leads the front page of the <a href=\"https:\/\/www.nytimes.com\/2021\/09\/28\/business\/economy\/yellen-powell-senate.html\">New York Times<\/a>.<\/p><p><strong>\u201cA dangerous man\u201d: <\/strong>US Senator Elizabeth Warren\u2019s <a href=\"https:\/\/www.bloomberg.com\/news\/articles\/2021-09-27\/asia-stocks-to-open-steady-as-treasury-yields-jump-markets-wrap?sref=mmeFTDW1\">broadside against<\/a> US Federal Reserve Chairman Jerome Powell yesterday hardly cheered the traders \u2014 needless to say, the Fed boss is more their cup of tea than is Warren. Warren said Powell was \u201ca dangerous man to head up the Fed\u201d ahead of his potential reappointment for a second term, citing Powell\u2019s track record on financial regulation as the reason why she won\u2019t be supporting his renomination. <strong>Powell faced unusually tough questioning on the Hill yesterday<\/strong>, <a href=\"https:\/\/www.reuters.com\/business\/feds-powell-faces-heated-questions-trading-regulation-diversity-2021-09-28\/\">Reuters<\/a> notes.<\/p><p><strong>MEANWHILE- How to solve the China Evergrande problem? Step #1: Find a big rug. <\/strong>The cash-strapped company \u2014 simultaneously billed as China\u2019s largest real estate developer, the world\u2019s most-indebted company and the potential trigger of Beijing\u2019s \u201cLehman moment\u201d \u2014 is about to <a href=\"https:\/\/www.reuters.com\/world\/china\/china-evergrande-transfer-15-bln-stake-shengjing-bank-state-firm-2021-09-29\/\">sell a USD 1.5 bn minority stake it owns in a Chinese bank<\/a> to a state-owned company. The <a href=\"https:\/\/www.wsj.com\/articles\/evergrande-to-raise-1-5-billion-by-selling-bank-stake-to-state-owned-firm-11632880557?mod=lead_feature_below_a_pos1\">Wall Street Journal<\/a> interprets this as \u201can indication that authorities in the country are moving to contain the fallout from the property giant\u2019s financial difficulties.\u201d But that doesn\u2019t mean that foreign bondholders, who are <a href=\"https:\/\/www.wsj.com\/articles\/evergrande-bondholders-mull-next-steps-in-wake-of-missed-payment-11632837984?mod=lead_feature_below_a_pos1\">mulling next steps<\/a> after Evergrande missed an interest payment, are going to see a penny of the proceeds from the sale, Reuters writes: The USD 1.5 bn transaction is designed to minimize Evergrande\u2019s impact on a big Chinese bank.<\/p><p><strong>** IN CASE YOU MISSED IT <\/strong>\u2014 catch up quick on the top stories from yesterday\u2019s edition of EnterprisePM:<\/p><ul>\n<li><strong>Good covid news:<\/strong> Egypt inched up slightly in <a href=\"https:\/\/www.bloomberg.com\/graphics\/covid-resilience-ranking\/?srnd=premium-middle-east&amp;sref=mmeFTDW1\">Bloomberg\u2019s Covid Resilience<\/a> ranking <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/6925341e-53e6-42ba-abd4-880c1924aa6f\">to #36<\/a> from the 53 countries included, compared to at <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/198550d4-df1f-4173-af13-283cf1228a7e\">#39 last month<\/a>.<\/li>\n<li><strong>Hedge funds and private equity investment in football: <\/strong>Investors <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/4d9e18a0-9bed-4dbc-ab1b-9d06bcd2a9f5\">are piling into football clubs<\/a>, calculating how lucrative matches are for them.<\/li>\n<li><strong>Meet our analyst of the week:<\/strong> <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/ac1846dc-ac75-4bc6-b1ba-c97faa6d0143\">Lina Hesham<\/a>, investment analyst at Azimut Egypt Asset Management.<\/li>\n<\/ul><p><strong>HAPPENING TODAY-<\/strong><\/p><p><a class=\"content-anchor\" id=\"tldr-story-07\"><\/a> <strong>White House National Security adviser Jake Sullivan is in Cairo today for <\/strong><strong>talks with Egyptian officials<\/strong>, a spokesperson for the National Security Council said in <a href=\"https:\/\/www.whitehouse.gov\/briefing-room\/statements-releases\/2021\/09\/28\/statement-by-nsc-spokesperson-emily-horne-on-senior-administration-official-trip-to-middle-east\/\">a statement<\/a> yesterday. On the agenda: Egypt\u2019s role promoting \u201csecurity and prosperity\u201d between Palestinians and Israel, upcoming elections in Libya, and security in the Horn of Africa. Israeli Prime Minister Naftali Bennett travelled to Sharm El Sheikh <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/baf8b6df-9dda-46d6-be48-d6045271e691\">earlier this month for talks with President Abdel Fattah El Sisi<\/a>. Bennett\u2019s national security adviser will meet with Sullivan on 5 October, the statement said.<\/p><p><strong>Human rights will also be part of the conversation:<\/strong> Sullivan will \u201caffirm the importance of human rights in the context of the overall strategic relationship\u201d today, the statement said. The visit comes a few weeks after the Biden administration said it would <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/e770dbbc-0d53-45a7-b108-7b6258603033\">hold back a portion of Egypt\u2019s annual military aid<\/a> until the Sisi administration acts to improve the nation\u2019s human rights record. Since then, the president has announced a new human rights strategy and <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/86835a2b-cdcf-4c45-a03b-8241e241fa12\">charges have been dropped<\/a> against another four NGOs accused of receiving illicit foreign funding \u2014 one of the conditions attached to the aid named by a US official earlier this month.<\/p><p><strong>Sullivan\u2019s visit comes as part of a Middle East tour<\/strong> that earlier this week took him to Saudi Arabia and the UAE. He yesterday met with Saudi Crown Prince Mohamed bin Salman and other senior Saudi officials to discuss the ongoing war in Yemen, <a href=\"https:\/\/www.reuters.com\/world\/white-house-aide-discusses-yemen-with-saudi-crown-prince-2021-09-28\/\">Reuters<\/a> reports.<\/p><div class=\"row\">\n<div class=\"col-md-12 subscribe-box-panel\">\n<div class=\"\">\n<div class=\"title\">\n<h4 class=\"fw-lighter mb-10\">\n          Get <b style=\"font-weight: 700\">Enterprise<\/b> daily<br>\n        <\/h4>\n<\/div>\n<p class=\"mb-10\">The roundup of news and trends that move your markets and shape corporate agendas delivered straight to your inbox.<\/p>\n<p>      <a href=\"egypt\/en\/user\/NewsLetters\" type=\"button \" class=\"btn-green px-3 d-flex align-items-center\">Subscribe here<\/a>\n    <\/p><\/div>\n<\/div>\n<\/div><p><strong>ALSO TODAY-<\/strong><\/p><p><strong>Conference season resumes today<\/strong> with <strong>ITIDA\u2019s <\/strong><strong><a href=\"https:\/\/devopsdays.org\/events\/2021-cairo\/welcome\/\">DevOpsDays Cairo 2021<\/a><\/strong>.<\/p><p><strong>The Cairo International Fair opens tomorrow <\/strong>at the Cairo International Conference Center, running through 8 October.<\/p><p><strong>The Egypt Projects 2021 construction expo also opens tomorrow <\/strong>at the Egypt International Exhibition Center and wraps on Saturday, 2 October.<\/p><p><strong>Dubai\u2019s Expo 2020 starts Friday, 1 October.<\/strong> The event, which takes place somewhere on the planet once every five years, runs for six months and will be open seven days a week. <a href=\"https:\/\/www.expo2020dubai.com\/en\">You can learn more here.<\/a><\/p><p><strong>ALSO HAPPENING THIS WEEK-<\/strong><\/p><p><strong>Winter retail opening hours in effect from Thursday:<\/strong> Shops and malls will close one hour earlier at 10pm (11pm on Thursdays, Fridays and national holidays) while cafes and restaurants will shutter at midnight rather than 1am. As during the summer, essential services such as grocery stores, supermarkets and pharmacies are exempt from the rules and can open and close their doors when they want.<\/p><p><strong>CIRCLE YOUR CALENDAR-<\/strong><\/p><p><strong>PSA #1- Next week is a short work week<\/strong>. You can expect to have a three-day weekend 7-9 October in observance of Armed Forces Day, which is on 6 October. Folks whose workdays are tied to banks and the market can expect confirmation from the Central Bank of Egypt and EGX early next week.<\/p><p><strong>PSA #2- We\u2019re probably also looking at a long weekend starting Thursday, 21 October <\/strong>in observance of the Prophet\u2019s Birthday, which is formally Monday, 18 October.<\/p><p><strong>PSA #3- Your commute is going to get worse at the end of next week.<\/strong> Public schools are back in session for the fall term on Saturday, 9 October.<\/p><p><strong>We\u2019re inching closer to the end of 3Q2021 and the beginning of another month.<\/strong> Here are some of the key dates coming up in October:<\/p><ul>\n<li><strong>MPs and senators are returning from recess to start the new legislative session:<\/strong> The House of Representatives will reconvene on <a href=\"https:\/\/ent.news\/2021\/9\/242847343_4381597848576082_9035778325156498405_n.jpg\">Saturday, 2 October<\/a> and the Senate will be back in Session Tuesday, 5 October.<\/li>\n<li><strong>PMI:<\/strong> September\u2019s purchasing managers\u2019 indexes for Egypt, Saudi Arabia and the UAE will land on <a href=\"https:\/\/ent.news\/2021\/9\/242837895_4382552781813922_5265194155531785330_n.jpg\">Tuesday, 5 October<\/a>.<\/li>\n<li><strong>Foreign reserves:<\/strong> September\u2019s foreign reserves figures will be out sometime during the first week of October.<\/li>\n<li><strong>Inflation:<\/strong> Inflation figures for September will be released on Sunday, 10 October.<\/li>\n<li><strong>IMF + World Bank meetings:<\/strong> The IMF and the World Bank will hold their <a href=\"https:\/\/www.worldbank.org\/en\/meetings\/splash\/annual\">annual meetings<\/a> during the week beginning 11 October.<\/li>\n<li><strong>Interest rates:<\/strong> The Central Bank of Egypt will meet to review interest rates on Thursday, 28 October.<\/li>\n<li><strong>A little further out:<\/strong> The Middle East Angel Investment Network is hosting its <a href=\"http:\/\/mainmena.com\/conference\/4\">Angel Oasis<\/a> in El Gouna on 27-29 October, with separate pricing for in-person and virtual attendance.<\/li>\n<\/ul><p><strong><a href=\"https:\/\/enterprise.press\/am-edition\/#calendar\">Check out our full calendar on the web<\/a><\/strong> for a comprehensive listing of upcoming news events, national holidays and news triggers.<\/p><p class=\"web-image\"><img data-recalc-dims=\"1\" decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2020\/1\/Web-view-01.jpg?ssl=1\" alt=\"enterprise\"><\/p><p><strong>*** It\u2019s Hardhat day \u2014 your weekly briefing of all things infrastructure in Egypt:<\/strong> Enterprise\u2019s industry vertical focuses each Wednesday on infrastructure, covering everything from energy, water, transportation, urban development and as well as social infrastructure such as health and education.<\/p><p><strong>In today\u2019s issue: <\/strong>The world\u2019s largest water treatment plant opened earlier this week in Egypt. In this week\u2019s project profile, we take a look at the Bahr El Baqar wastewater plant, which will process 5 mn cubic meters of water every day and help irrigate 475k feddans of reclaimed agricultural land.<\/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\/bonds\/\">Bonds<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/elizabeth-warren\/\">Elizabeth Warren<\/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\/equities\/\">equities<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/global-markets\/\">global 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\/oil-and-gas\/\">oil and gas<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/stagflation\/\">Stagflation<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/treasuries\/\">treasuries<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/us-federal-reserve\/\">US Federal Reserve<\/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=\"557704\" 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=\"557704\">\r\n            \r\n            <div class=\"story__body\">\r\n\r\n                <a href=\"https:\/\/enterpriseam.com\/egypt\/2021\/09\/29\/557704\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-557704\" class=\"content-area-description single-story post-557704 post type-post status-publish format-standard hentry category-uncategorized wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<p class='web-image'><a href='https:\/\/somabay.com\/'><img decoding=\"async\" data-recalc-dims=\"1\" src=\"https:\/\/i0.wp.com\/ent.news\/2021\/9\/Enterprise-Visual-Somabay-Golf-26-sep-21-1600px.jpg?ssl=1\" alt='enterprise'><\/a><\/p>\n\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=\"557705\" 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=\"557705\">\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\">IPO<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2021\/09\/29\/abu-auf-could-debut-on-egx-with-49-stake-sale-in-2q2022\/\">\r\n                            Abu Auf could debut on EGX with 49% stake sale in 2Q2022                        <\/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\/29\/abu-auf-could-debut-on-egx-with-49-stake-sale-in-2q2022\/\" 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\/29\/abu-auf-could-debut-on-egx-with-49-stake-sale-in-2q2022\/')\">\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\/29\/abu-auf-could-debut-on-egx-with-49-stake-sale-in-2q2022\/\">\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=Abu Auf could debut on EGX with 49% stake sale in 2Q2022&url=https:\/\/enterpriseam.com\/egypt\/2021\/09\/29\/abu-auf-could-debut-on-egx-with-49-stake-sale-in-2q2022\/\">\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\/29\/abu-auf-could-debut-on-egx-with-49-stake-sale-in-2q2022\/&title=Abu Auf could debut on EGX with 49% stake sale in 2Q2022\">\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=Abu+Auf+could+debut+on+EGX+with+49%25+stake+sale+in+2Q2022+https%3A%2F%2Fenterpriseam.com%2Fegypt%2F2021%2F09%2F29%2Fabu-auf-could-debut-on-egx-with-49-stake-sale-in-2q2022%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\/29\/abu-auf-could-debut-on-egx-with-49-stake-sale-in-2q2022\/\">\r\n                    <div class=\"photo photo--above\">\r\n                        <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2021\/9\/390.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"557706\" data-permalink=\"https:\/\/enterpriseam.com\/egypt\/2021\/09\/29\/abu-auf-could-debut-on-egx-with-49-stake-sale-in-2q2022\/390-jpg-6\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2021\/9\/390.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"390.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2021\/9\/390.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2021\/9\/390.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-557705\" class=\"content-area-description single-story post-557705 post type-post status-publish format-standard has-post-thumbnail hentry category-ipo-watch tag-abu-auf tag-egx tag-enterpriseam tag-ipo-watch wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<p><a class=\"content-anchor\" id=\"tldr-story-01\"><\/a> <strong>Healthy food brand Abu Auf\u2019s parent company AUF plans to make its EGX debut <\/strong><strong>in 2Q2022<\/strong>, the company said in a <a href=\"https:\/\/ent.news\/2021\/9\/AUF-HERMES.pdf\">statement (pdf)<\/a> yesterday. AUF has appointed EFG Hermes to quarterback the transaction.<\/p>\n<p><strong>The company could offer up to 49% of its shares on the EGX<\/strong>, Mohamed Mahgoub, managing partner at private equity firm <a href=\"http:\/\/tanmiyaventures.com\/\">TCV<\/a>, which holds a significant minority stake in AUF, told us. AUF plans to use the proceeds to finance regional growth, Mahgoub said.<\/p>\n<p><strong>Abu Auf in Egypt: <\/strong>The company currently has 180 branches in Egypt and more than 1k warehouses, distributed among 10 governorates. The company has recently expanded into coffee, saying it has opened a production facility to serve both domestic and export demand.<\/p>\n<p><strong>Abu Auf abroad: <\/strong>The company has been exporting its products to major global markets including England, Belgium, Germany and the Netherlands. It has also been exporting to Saudi Arabia, Kuwait and the UAE, as well as Libya and Palestine.<\/p>\n<p><strong>IN THE MARKET NOW- <\/strong>Meanwhile, IPO watchers are keeping a close eye on the IPO of state-owned fintech platform and payments infrastructure player <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/172bb5a9-c959-409e-9e3c-1d190d7fd256\">e-Finance<\/a>, which is in the market now.<\/p>\n<p><strong>The EGX is trying to get more companies to list on the bourse<\/strong>, recently <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/172bb5a9-c959-409e-9e3c-1d190d7fd256\">amending listing rules<\/a> to make it easier for larger firms to go public in Egypt. Companies no longer need to offer a 25% stake and can instead sell shares equal to the 1% of the exchange\u2019s freefloat market cap.<\/p>\n\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/abu-auf\/\">Abu Auf<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/egx\/\">EGX<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/ipo-watch\/\">IPO watch<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                    <\/div>\n    <\/div>\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"557707\" 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=\"557707\">\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\">Infrastructure<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2021\/09\/29\/are-these-the-partners-youre-looking-for\/\">\r\n                            Are these the partners you\u2019re looking for?                        <\/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\/29\/are-these-the-partners-youre-looking-for\/\" 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\/29\/are-these-the-partners-youre-looking-for\/')\">\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\/29\/are-these-the-partners-youre-looking-for\/\">\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=Are these the partners you\u2019re looking for?&url=https:\/\/enterpriseam.com\/egypt\/2021\/09\/29\/are-these-the-partners-youre-looking-for\/\">\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\/29\/are-these-the-partners-youre-looking-for\/&title=Are these the partners you\u2019re looking for?\">\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=Are+these+the+partners+you%E2%80%99re+looking+for%3F+https%3A%2F%2Fenterpriseam.com%2Fegypt%2F2021%2F09%2F29%2Fare-these-the-partners-youre-looking-for%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\/29\/are-these-the-partners-youre-looking-for\/\">\r\n                    <div class=\"photo photo--above\">\r\n                        <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2021\/9\/391.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"557708\" data-permalink=\"https:\/\/enterpriseam.com\/egypt\/2021\/09\/29\/are-these-the-partners-youre-looking-for\/391-jpg-11\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2021\/9\/391.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"391.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2021\/9\/391.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2021\/9\/391.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-557707\" class=\"content-area-description single-story post-557707 post type-post status-publish format-standard has-post-thumbnail hentry category-infrastructure tag-enterpriseam tag-hassan-allam-holding tag-infrastructure tag-orascom-construction tag-sovereign-fund-of-egypt tag-water 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>OC, Hassan Allam in talks with SFE for desalination projects -sources:<\/strong> Orascom Construction and Hassan Allam Holding are in early talks with the Sovereign Fund of Egypt (SFE) for contracts to build several new desalination plants, unnamed sources told <a href=\"https:\/\/bit.ly\/3APrfDM\">Al Mal<\/a>. Enterprise was unable to get comment from the parties involved to confirm the news.<\/p>\n<p><strong>The wealth fund is looking for local and international partners to build 17 new desalination plants at a total sticker price of about USD 2.5 bn<\/strong>, SFE head Ayman Soliman told <a href=\"https:\/\/www.bloomberg.com\/news\/articles\/2021-08-19\/parched-egypt-seeks-partners-for-2-5-billion-desalination-plan?sref=mmeFTDW1\">Bloomberg<\/a> last month. The SFE would take a minority stake in each of the 17 plants alongside its private sector partners, he said, without revealing how much the fund would contribute to the projects. Expect contractors to be responsible for bringing financing for the plants.<\/p>\n<p><strong>This is part of the Sisi administration\u2019s drive to enhance water security by stepping up investment in desalination capacity.<\/strong> Egypt is spending some <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/64f6386d-108e-41cd-872e-ace09bcbf196\">EGP 134 bn through 2050<\/a> to build desalination plants that would give us 6.4 mn cubic meters of potable water per day. The 17 plants will produce a combined 2.8 mn cbm\/d of water by 2025, Soliman said. The news comes as Egypt grapples with the prospect of a water shortage thanks to both climate change and the impact of the Grand Ethiopian Renaissance Dam.<\/p>\n<p><strong>This comes only one day after Egypt inaugurated the world\u2019s largest wastewater treatment plant<\/strong>, the <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/fef6a4ce-b321-4901-85a3-ab2bfe40e663\">Bahr El Baqar wastewater treatment plant<\/a>, which will treat around 5.6 mn cbm\/d of water, which then will be used to irrigate agricultural land in Sinai. We have more on this in this week\u2019s Hardhat feature, below.<\/p>\n<p><strong>OTHER INFRASTRUCTURE NEWS-<\/strong><\/p>\n<p><strong>India, Pakistan and the Arabian Gulf will now be receiving 2Africa coverage<\/strong>, <strong>making it the largest subsea cable in the world.<\/strong> The 2Africa subsea cable being installed by a consortium of global telecoms firms comprised of China Mobile International, Facebook, MTN GlobalConnect, Orange, STC, Telecom Egypt, Vodafone and WIOCC will soon see <a href=\"https:\/\/apnews.com\/press-release\/pr-newswire\/technology-business-africa-middle-east-europe-82de0cabb1bc25040a1c0bdd17eb1d78\">new segments<\/a> added that will extend to the Arabian Gulf, India, and Pakistan, according to <a href=\"https:\/\/apnews.com\/press-release\/pr-newswire\/technology-business-africa-middle-east-europe-82de0cabb1bc25040a1c0bdd17eb1d78\">a press release.<\/a> The group\u2019s most recent announcement sets the full length of the subsea cable to 45k-km, up from <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/b18ff2f7-c696-4ff4-a883-8839d8183667\">last month\u2019s announcement<\/a> that the 37k-km spanning cable would see new connections extended to the Seychelles, the Comoros, Angola and Nigeria.<\/p>\n\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/hassan-allam-holding\/\">Hassan Allam Holding<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/infrastructure\/\">infrastructure<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/orascom-construction\/\">Orascom Construction<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/sovereign-fund-of-egypt\/\">Sovereign Fund of Egypt<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/water\/\">water<\/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=\"557709\" 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=\"557709\">\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\">COVID WATCH<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2021\/09\/29\/pressure-is-increasing-on-govt-employees-to-get-vaccinated\/\">\r\n                            Pressure is increasing on gov\u2019t employees to get vaccinated                        <\/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\/29\/pressure-is-increasing-on-govt-employees-to-get-vaccinated\/\" 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\/29\/pressure-is-increasing-on-govt-employees-to-get-vaccinated\/')\">\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\/29\/pressure-is-increasing-on-govt-employees-to-get-vaccinated\/\">\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=Pressure is increasing on gov\u2019t employees to get vaccinated&url=https:\/\/enterpriseam.com\/egypt\/2021\/09\/29\/pressure-is-increasing-on-govt-employees-to-get-vaccinated\/\">\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\/29\/pressure-is-increasing-on-govt-employees-to-get-vaccinated\/&title=Pressure is increasing on gov\u2019t employees to get vaccinated\">\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=Pressure+is+increasing+on+gov%E2%80%99t+employees+to+get+vaccinated+https%3A%2F%2Fenterpriseam.com%2Fegypt%2F2021%2F09%2F29%2Fpressure-is-increasing-on-govt-employees-to-get-vaccinated%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\/29\/pressure-is-increasing-on-govt-employees-to-get-vaccinated\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-557709\" class=\"content-area-description single-story post-557709 post type-post status-publish format-standard hentry category-covid-watch tag-covid-19 tag-enterpriseam tag-prime-minister-mostafa-madbouly tag-vaccines wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<p><a class=\"content-anchor\" id=\"tldr-story-03\"><\/a> <strong>Government employees who remain unvaccinated in two months time will<\/strong><strong> be banned <\/strong><strong>from entering their workplaces<\/strong>, according to a circular seen by Enterprise yesterday. The directive, sent by Prime Minister Mostafa Madbouly to government ministries, will require unvaccinated employees to either take PCR tests every 72 hours or receive a vaccine to be admitted into government buildings.<\/p>\n<p><strong>The government expects the decision to allow it to vaccinate all 4.5 mn civil servants before the end of November<\/strong>, <a href=\"https:\/\/bit.ly\/3ujMCdZ\">Sky News Arabia<\/a> reports.<\/p>\n<p><strong>The Health Ministry <\/strong><strong><a href=\"https:\/\/www.facebook.com\/egypt.mohp\/posts\/171063531871536\">reported<\/a><\/strong><strong> 718 new covid-19 infections yesterday<\/strong>, up from 702 the day before. Egypt has now disclosed a total of 303,045 confirmed cases of covid-19. The ministry also reported 39 new deaths, bringing the country\u2019s total death toll to 17,263.<\/p>\n<p><strong>The daily death tally has grown quickly in recent days:<\/strong> In the past 10 days the number of deaths reported by the ministry has more than doubled<sup><\/sup>, and has more than quadrupled since the beginning of the month. The ministry was reporting single-figure daily deaths at the end of August.<\/p>\n<p><strong>Deaths and cases will climb further in the days ahead<\/strong> given the coming colder weather, the return of children to schools, and a failure to follow precautionary measures, Mohamed El Nady, a member of the government\u2019s covid-19 committee, told Kelma Akhira\u2019s Lamees El Hadidy last night (<a href=\"https:\/\/www.youtube.com\/watch?v=dN4kaf7s-mo\">watch, runtime: 12:04<\/a>), calling the recent rise in deaths \u201cworrying.\u201d<\/p>\n\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/covid-19\/\">covid-19<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/prime-minister-mostafa-madbouly\/\">Prime Minister Mostafa Madbouly<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/vaccines\/\">vaccines<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                    <\/div>\n    <\/div>\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"557710\" 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=\"557710\">\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\">Tourism<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2021\/09\/29\/italy-allows-travel-to-sharm-el-sheikh-marsa-alam-without-quarantine-on-return\/\">\r\n                            Italy allows travel to Sharm El Sheikh, Marsa Alam without quarantine on return                        <\/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\/29\/italy-allows-travel-to-sharm-el-sheikh-marsa-alam-without-quarantine-on-return\/\" 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\/29\/italy-allows-travel-to-sharm-el-sheikh-marsa-alam-without-quarantine-on-return\/')\">\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\/29\/italy-allows-travel-to-sharm-el-sheikh-marsa-alam-without-quarantine-on-return\/\">\n                    Facebook                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/facebook-icon2.svg\" alt=\"\"> -->\n                <\/a>\n            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class=\"photo photo--above\">\r\n                        <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2021\/9\/392.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"557711\" data-permalink=\"https:\/\/enterpriseam.com\/egypt\/2021\/09\/29\/italy-allows-travel-to-sharm-el-sheikh-marsa-alam-without-quarantine-on-return\/392-jpg-9\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2021\/9\/392.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"392.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2021\/9\/392.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2021\/9\/392.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-557710\" class=\"content-area-description single-story post-557710 post type-post status-publish format-standard has-post-thumbnail hentry category-tourism tag-covid-19 tag-enterpriseam tag-eu tag-italy tag-sharm-el-sheikh tag-tourism 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>Italian tourists are now allowed to travel to Sharm El Sheikh and Marsa Alam <\/strong>without needing to quarantine at either end of their trip, the country\u2019s health ministry <a href=\"https:\/\/www.reuters.com\/article\/idUSL8N2QU5KD\">said on Tuesday<\/a> as it launched an experimental \u201ccovid-free tourist corridors\u201d policy.<\/p>\n<p><strong>Italians will be permitted to catch some winter sun<\/strong> in the Red Sea resort towns \u2014 as well as the Maldives, Seychelles, Mauritius, Dominican Republic and Aruba \u2014 provided they have a \u201cGreen Pass\u201d proving covid immunity through vaccination or prior infection and stick to what the health ministry called \u201ccontrolled tourist itineraries.\u201d Tourists must also undergo PCR testing prior to their arrival and departure.<\/p>\n<p><strong>Egypt is one of very few exceptions to Italy\u2019s strict travel quarantine rules: <\/strong>Italians who visit any other destination outside of the EU must quarantine on their return.<\/p>\n\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/covid-19\/\">covid-19<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/eu\/\">EU<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/italy\/\">Italy<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/sharm-el-sheikh\/\">Sharm El Sheikh<\/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                    <\/div>\n    <\/div>\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"557712\" 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=\"557712\">\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\">Capital markets<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2021\/09\/29\/a-group-of-mps-want-to-postpone-the-capital-gains-tax\/\">\r\n                            A group of MPs want to postpone the capital gains tax                        <\/a>\r\n                    <\/h3>\r\n\r\n                    \r\n\t\t\t\t\t\n<div class=\"cta\">\n    <div class=\"cta__btn share-dropdown-cta dropdown-toggle-btn\" style=\"position:relative\">\n        <img decoding=\"async\" src=\"https:\/\/ent.news\/internal\/408834.svg\" alt=\"\">\n        Share Story\n        <!-- Dropdown Menu -->\n        <ul class=\"share-menu\">\n            <li class=\"list-inline-item\">\n                <a 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decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2021\/9\/393.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"557713\" data-permalink=\"https:\/\/enterpriseam.com\/egypt\/2021\/09\/29\/a-group-of-mps-want-to-postpone-the-capital-gains-tax\/393-jpg-7\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2021\/9\/393.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"393.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2021\/9\/393.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2021\/9\/393.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-557712\" class=\"content-area-description single-story post-557712 post type-post status-publish format-standard has-post-thumbnail hentry category-capital-markets tag-capital-markets tag-egx tag-enterpriseam tag-house-of-representatives tag-legislation tag-senate tag-tax wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<p><a class=\"content-anchor\" id=\"tldr-story-05\"><\/a> <strong>Group of MPs to fight EGX capital gains tax:<\/strong> A small group of MPs will draft legislation aiming to postpone for another year the reintroduction of a capital gains tax on EGX transactions, which is slated for January 2022, <a href=\"https:\/\/bit.ly\/3ATVE3U\">Masrawy<\/a> reports. The group of 20 lawmakers, led by businessman and deputy chair of the House of Representatives\u2019 industry committee Mohamed El Sallab, claims that the proposed 10% tax on stock market transactions could deal a fatal blow to trading on the Egyptian bourse. They say the EGX is still recovering from the impact of the pandemic and are calling for an \u201cexpanded dialogue\u201d with the EGX and the House Economic Committee to find an alternative solution.<\/p>\n<p><strong>Mohamed Maait <\/strong><strong><a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/fc92b9f8-5427-446f-a7dc-2960cc4d17a4\">last week confirmed<\/a><\/strong><strong> that it would come into force on 1 January<\/strong>, meaning from 2022 Egypt-domiciled equity investors will start paying a 10% tax on their net portfolio earnings. Domestic investors \u2014 who presently account for the bulk of turnover on the EGX \u2014 will be the only ones on the hook for the tax after the ministry decided to exempt non-residents.<\/p>\n<p><strong>MPs are suggesting alternatives to the CGT<\/strong>: One is suggesting that the government levy a development fee on market transactions instead, while another wants to replace it with a stamp tax. They have yet to make clear how their alternative taxes would be more palatable to local investors than what Maait is pushing through.<\/p>\n<p><strong>Expect debate on the tax as early as next week: <\/strong>Six of the MPs said they would call on Maait to discuss postponing the tax or replacing it with a development levy when the Senate reconvenes on 5 October. The House, meanwhile, is set to reconvene on Saturday.<\/p>\n<p><strong>Is the tax sapping trading on the EGX?<\/strong> MPs say traders welcomed the tax by sparking a sell-off last week on the EGX, with Rep. Mohamed Taha Al Khouli (Fayoum) saying shares shed some EGP 27 bn in value in the two days following the announcement. Meanwhile, El Sallab said that the recent volatility proved the need for a dialogue between the ministry and the bourse before implementation, adding that the new levy needs to be applied clearly and transparently in order to avoid hindering investment.<\/p>\n<p><strong>The securities industry is pushing back<\/strong>, with lobby group Egyptian Capital Market Association (ECMA) saying last week that now isn\u2019t the time to introduce a capital gains tax. The group, like the MPs, pointed to the fragility of the EGX\u2019s ongoing recovery.<\/p>\n<p><strong>E<\/strong><strong>gypt\u2019s benchmark EGX30 index is down 3.7% YTD<\/strong> after a brief stint in positive territory, while regional competitors for global capital are all handily in the green: ADX is up 54% YTD, the Saudi Tadawul is ahead more than 30% for the year and the Dubai bourse has gained 14%. Trading volumes have been reasonable in 2021 (by the standards of recent years), but have been dominated by retail investors (first and foremost), followed by local institutions. Foreign investors are yet to return to the EGX.<\/p>\n<p><strong>The CGT isn\u2019t the only thing driving selling right now: <\/strong>It\u2019s likely that both retail investors and domestic institutions are liquidating positions so they have capital to sink into e-Finance\u2019s IPO, says Cairo Capital Securities analyst Adham Gamal Eldin. As we\u2019ve previously reported, the state-owned fintech player is in the market now and has said it will pull the trigger on its IPO this fall. That suggests it could make its debut as early as this month. Gamal Eldin sees a bit more selling left to come before the EGX30 stabilizes at 10,300.<\/p>\n<p><strong>Global volatility also played its part last week: <\/strong>Last week\u2019s EGX sell-off coincided with a sell-off in global stocks and a turn towards safer assets, triggered by events in China and concerns that the US Federal Reserve could move to taper its stimulus later this year.<\/p>\n\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/capital-markets\/\">capital markets<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/egx\/\">EGX<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/house-of-representatives\/\">House of Representatives<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/legislation\/\">legislation<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/senate\/\">Senate<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/tax\/\">tax<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                    <\/div>\n    <\/div>\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"557714\" 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=\"557714\">\r\n            \r\n                <div class=\"issue-story-header text-center\">\r\n                    <div class=\"index-number\">7<\/div>\r\n\r\n                    <p class=\"f-graphik\">DEBT WATCH<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2021\/09\/29\/globalcorp-could-kick-off-egp-3-3-5-bn-securitization-program-in-4q2021\/\">\r\n                            GlobalCorp could kick off EGP 3-3.5 bn securitization program in 4Q2021                        <\/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\/29\/globalcorp-could-kick-off-egp-3-3-5-bn-securitization-program-in-4q2021\/\" 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\/29\/globalcorp-could-kick-off-egp-3-3-5-bn-securitization-program-in-4q2021\/')\">\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\/29\/globalcorp-could-kick-off-egp-3-3-5-bn-securitization-program-in-4q2021\/\">\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=GlobalCorp could kick off EGP 3-3.5 bn securitization program in 4Q2021&url=https:\/\/enterpriseam.com\/egypt\/2021\/09\/29\/globalcorp-could-kick-off-egp-3-3-5-bn-securitization-program-in-4q2021\/\">\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\/29\/globalcorp-could-kick-off-egp-3-3-5-bn-securitization-program-in-4q2021\/&title=GlobalCorp could kick off EGP 3-3.5 bn securitization program in 4Q2021\">\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=GlobalCorp+could+kick+off+EGP+3-3.5+bn+securitization+program+in+4Q2021+https%3A%2F%2Fenterpriseam.com%2Fegypt%2F2021%2F09%2F29%2Fglobalcorp-could-kick-off-egp-3-3-5-bn-securitization-program-in-4q2021%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\/29\/globalcorp-could-kick-off-egp-3-3-5-bn-securitization-program-in-4q2021\/\">\r\n                    <div class=\"photo photo--above\">\r\n                        <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2021\/9\/394.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"557715\" data-permalink=\"https:\/\/enterpriseam.com\/egypt\/2021\/09\/29\/globalcorp-could-kick-off-egp-3-3-5-bn-securitization-program-in-4q2021\/394-jpg-8\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2021\/9\/394.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"394.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2021\/9\/394.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2021\/9\/394.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-557714\" class=\"content-area-description single-story post-557714 post type-post status-publish format-standard has-post-thumbnail hentry category-debt-watch tag-debt-watch tag-enterpriseam tag-globalcorp tag-securitization wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<p><a class=\"content-anchor\" id=\"tldr-story-06\"><\/a> <strong>GlobalCorp could have the first tranche of a EGP 3-3.5 bn securitized bond <\/strong><strong>issuance ready by the end of the year<\/strong>, <a href=\"https:\/\/bit.ly\/3ASchwH\">Al Mal<\/a> reports. The non-bank lender is planning to sell EGP 1.1 bn of securities in 4Q2021, its CEO and managing director, Hatem Samir, told the newspaper. The issuance would come as part of a larger securitized bond program worth an estimated EGP 3 - 3.5 bn set to be completed by 2023, he said. The company is currently waiting on a MERIS credit rating ahead of its first issuance later this year.<\/p>\n<p><strong>Advisors:<\/strong> Misr Capital and CIB are acting financial advisors for the offering while Dreny & Partners are legal counsel.<\/p>\n<p><strong>GlobalCorp provides structured leasing products and other financial and advisory services<\/strong> to companies across several sectors including real estate, transport and health. Earlier this year <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/ec99daab-7127-473c-bd0e-033225df2f54\">the company said<\/a> it would double its lending portfolio to EGP 6 bn in 2021 and ramp up its factoring and leasing services to companies in the construction, health, food and education sectors.<\/p>\n<p><strong>Background:<\/strong> GlobalCorp was set up in 2015 by local and foreign institutions including <a href=\"https:\/\/ezdehar.com\/about\/\">Ezdehar<\/a> (60% shareholders) and <a href=\"https:\/\/sanad.lu\/\">Sanad<\/a> (30%) \u2014 and who also announced<a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/e6ebaa26-8ace-4a91-b982-969da017dead\">earlier this year<\/a>that they were looking to exit the company after hitting their target ROI. CEO Samir holds the 10% stake not owned by the latter two funds. GlobalCorp\u2019s largest shareholder, Ezdehar, counts the European Bank for Reconstruction and Development (EBRD), the European Investment Bank, and the development finance arms of the UK and the Netherlands, among <a href=\"https:\/\/ezdehar.com\/about\/\">its limited partners<\/a>. LPs also include the Sawiris family\u2019s Gemini Holding.<\/p>\n<p><strong>IN OTHER NON-BANK LENDING NEWS-<\/strong><\/p>\n<p><strong>Premium Card ups its consumer credit lines: <\/strong>Consumer finance outfit Premium Card plans to extend EGP 400 mn worth of credit facilities to its customers in the fourth quarter of this year, and EGP 1.7 bn in 2022, having already offered EGP 1 bn in credit so far in 2021, <a href=\"https:\/\/bit.ly\/3kK1v61\">Hapi Journal<\/a> reports.<\/p>\n\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/debt-watch\/\">debt watch<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/globalcorp\/\">GlobalCorp<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/securitization\/\">securitization<\/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=\"557716\" 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=\"557716\">\r\n            \r\n            <div class=\"story__body\">\r\n\r\n                <a href=\"https:\/\/enterpriseam.com\/egypt\/2021\/09\/29\/557716\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-557716\" class=\"content-area-description single-story post-557716 post type-post status-publish format-standard hentry category-uncategorized wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<p class='web-image'><a href='https:\/\/www.sodic.com\/'><img decoding=\"async\" data-recalc-dims=\"1\" src=\"https:\/\/i0.wp.com\/ent.news\/2021\/7\/Sodic-June-MV-Sea-1600px.jpg?ssl=1\" alt='enterprise'><\/a><\/p>\n\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"557717\" 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=\"557717\">\r\n            \r\n                <div class=\"issue-story-header text-center\">\r\n                    <div class=\"index-number\">8<\/div>\r\n\r\n                    <p class=\"f-graphik\">Enterprise+: Last Night\u2019s Talk Shows<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2021\/09\/29\/last-nights-talk-shows-on-land-and-river-encroachments-women-judges\/\">\r\n                            Last Night\u2019s Talk Shows on land and river encroachments, women judges                        <\/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\/29\/last-nights-talk-shows-on-land-and-river-encroachments-women-judges\/\" 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\/29\/last-nights-talk-shows-on-land-and-river-encroachments-women-judges\/')\">\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\/29\/last-nights-talk-shows-on-land-and-river-encroachments-women-judges\/\">\n                    Facebook                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/facebook-icon2.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a target=\"_blank\" href=\"https:\/\/x.com\/intent\/post?text=Last Night\u2019s Talk Shows on land and river encroachments, women judges&url=https:\/\/enterpriseam.com\/egypt\/2021\/09\/29\/last-nights-talk-shows-on-land-and-river-encroachments-women-judges\/\">\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\/29\/last-nights-talk-shows-on-land-and-river-encroachments-women-judges\/&title=Last Night\u2019s Talk Shows on land and river encroachments, women judges\">\n                    LinkedIn                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/linkedin-icon.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a href=\"https:\/\/api.whatsapp.com\/send?text=Last+Night%E2%80%99s+Talk+Shows+on+land+and+river+encroachments%2C+women+judges+https%3A%2F%2Fenterpriseam.com%2Fegypt%2F2021%2F09%2F29%2Flast-nights-talk-shows-on-land-and-river-encroachments-women-judges%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\/29\/last-nights-talk-shows-on-land-and-river-encroachments-women-judges\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-557717\" class=\"content-area-description single-story post-557717 post type-post status-publish format-standard hentry category-enterprise-last-nights-talk-shows tag-building-code tag-covid-19 tag-enterpriseam tag-irrigation tag-judiciary tag-last-nights-talk-shows wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<p><strong>The weekend seems to have started early, with a quiet night for yesterday\u2019s talk shows. <\/strong><\/p>\n<p><strong>People who have built buildings on state land next to the Nile without a permit will not <\/strong><strong>be able to reconcile with the government<\/strong>, Irrigation Ministry Spokesperson Mohamed Ghanem said in a phone call with Kelma Akhira\u2019s Lamees El Hadidi (<a href=\"https:\/\/www.youtube.com\/watch?v=lvL9RQqB9Lo\">watch, runtime: 8:59<\/a>). Buildings and agricultural infrastructure built on waterways were not eligible for the government\u2019s recent reconciliation drive.<\/p>\n<p><strong>So what happens?<\/strong> All cases will be referred directly to the military prosecution, and those who illegally encroach on the Nile will pay to demolish the structures out of their own pockets. The same laws apply for infringements on agricultural lands, while reconciliation and legalization is only possible for building infringements on private property, Local Development Ministry Spokesperson Khaled Qassem told El Hadidi in a separate phone interview (<a href=\"https:\/\/www.youtube.com\/watch?v=zKq4YYo_JLA\">watch, runtime: 8:08<\/a>).<\/p>\n<p><strong>Around 64k of a <\/strong><strong>total 120k<\/strong><strong> buildings that encroach on the riverbank have been removed <\/strong>since the launch of the campaign in 2015, Ghanem said, adding that the remainder can be removed within six months if more effort is made. As for the campaign to remove land encroachments, Qassem said that the current stage aims to remove some 16k buildings nationwide.<\/p>\n<p><strong>Women will begin work in Egypt\u2019s Public Prosecution and State Council starting 2 <\/strong><strong>October<\/strong>, Justice Minister Omar Marwan said in a phone call with Sherif Amer\u2019s Yahduth Fi Misr (<a href=\"https:\/\/www.youtube.com\/watch?v=jS-pGjz_PhM\">watch, runtime: 5:49<\/a>). Eleven female judges have transferred to the Public Prosecution at the rank of chief prosecutor and general attorney, while tens of female members of the judiciary have moved to the State Council, according to Marwan. He added that civil suits can now be filed remotely online in seven governorates, while lawsuits can be updated remotely nationwide.<\/p>\n\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/building-code\/\">building code<\/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\/irrigation\/\">irrigation<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/judiciary\/\">judiciary<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/last-nights-talk-shows\/\">LAST NIGHT\u2019S TALK SHOWS<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                    <\/div>\n    <\/div>\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"557718\" 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 .stk-block-carousel__button svg.ugb-custom-icon :is(g, path, rect, polygon, ellipse){fill:#FFFFFF !important;}<\/style>\r\n                <div class=\"stk-block-carousel__content-wrapper\">\r\n                <div class=\"stk-row stk-inner-blocks stk-block-content stk-block-carousel__slider-wrapper stk-content-align stk-a38cfb2-column alignwide\">\r\n                <div class=\"stk-block-carousel__slider\" role=\"list\" data-autoplay=\"4000\" data-label-slide-of=\"Slide %%d of %%d\">\r\n            <div class=\"wp-block-stackable-column stk-block-column stk-column stk-block stk-46c5f99\" data-v=\"4\" data-block-id=\"46c5f99\"><div class=\"stk-column-wrapper stk-block-column__content stk-container stk-46c5f99-container stk--no-background stk--no-padding\"><div class=\"stk-block-content stk-inner-blocks stk-46c5f99-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\/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-2i53nu7\" data-v=\"4\" data-block-id=\"2i53nu7\"><div class=\"stk-column-wrapper stk-block-column__content stk-container stk-2i53nu7-container stk--no-background stk--no-padding\"><div class=\"stk-block-content stk-inner-blocks stk-2i53nu7-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-ef7jfsv\" data-v=\"4\" data-block-id=\"ef7jfsv\"><div class=\"stk-column-wrapper stk-block-column__content stk-container stk-ef7jfsv-container stk--no-background stk--no-padding\"><div class=\"stk-block-content stk-inner-blocks stk-ef7jfsv-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-onlrbfs\" data-v=\"4\" data-block-id=\"onlrbfs\"><div class=\"stk-column-wrapper stk-block-column__content stk-container stk-onlrbfs-container stk--no-background stk--no-padding\"><div class=\"stk-block-content stk-inner-blocks stk-onlrbfs-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-81ue3kv\" data-v=\"4\" data-block-id=\"81ue3kv\"><div class=\"stk-column-wrapper stk-block-column__content stk-container stk-81ue3kv-container stk--no-background stk--no-padding\"><div class=\"stk-block-content stk-inner-blocks stk-81ue3kv-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                <\/div>\r\n            <\/div>\r\n            <\/div><\/div><\/div>\r\n        <\/div><div class=\"stk-block-carousel__buttons\"><button class=\"stk-block-carousel__button stk-block-carousel__button__prev\" aria-label=\"Previous slide\"><svg aria-hidden=\"true\" focusable=\"false\" data-prefix=\"fas\" data-icon=\"chevron-left\" class=\"svg-inline--fa fa-chevron-left\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" viewBox=\"0 0 320 512\" width=\"32\" height=\"32\"><path 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data-label=\"Slide %%d\"><\/div><\/div><\/div>\r\n        <\/div>\r\n<\/section> \r\n\r\n\n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"557719\" 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=\"557719\">\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\">EGYPT IN THE NEWS<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2021\/09\/29\/human-rights-dominates-press-coverage-as-patrick-zakis-trial-begins\/\">\r\n                            Human rights dominates press coverage as Patrick Zaki\u2019s trial begins                        <\/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\/29\/human-rights-dominates-press-coverage-as-patrick-zakis-trial-begins\/\" 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\/29\/human-rights-dominates-press-coverage-as-patrick-zakis-trial-begins\/')\">\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\/29\/human-rights-dominates-press-coverage-as-patrick-zakis-trial-begins\/\">\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=Human rights dominates press coverage as Patrick Zaki\u2019s trial 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href=\"https:\/\/api.whatsapp.com\/send?text=Human+rights+dominates+press+coverage+as+Patrick+Zaki%E2%80%99s+trial+begins+https%3A%2F%2Fenterpriseam.com%2Fegypt%2F2021%2F09%2F29%2Fhuman-rights-dominates-press-coverage-as-patrick-zakis-trial-begins%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\/29\/human-rights-dominates-press-coverage-as-patrick-zakis-trial-begins\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-557719\" class=\"content-area-description single-story post-557719 post type-post status-publish format-standard hentry category-egypt-in-the-news tag-enterpriseam tag-human-rights-watch tag-un wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<p><strong>Human rights dominates the conversation on Egypt in the international press this morning:<\/strong> <a href=\"https:\/\/www.reuters.com\/world\/middle-east\/egypt-tries-researcher-held-return-italy-false-news-charge-2021-09-28\/\">Reuters<\/a> and the <a href=\"https:\/\/www.bbc.com\/news\/world-middle-east-58558687\">BBC<\/a> are reporting on the opening of the trial of Patrick Zaki, an Egyptian student and human rights activist who has been held in pre-trial detention since February last year on charges of \u201cfake news.\u201d Zaki pleaded not guilty and asked to be released during a hearing earlier this month. The judge yesterday adjourned the case until 7 December to allow the defence to review case files. Meanwhile, <a href=\"https:\/\/allafrica.com\/stories\/202109280063.html\">Human Rights Watch<\/a> is urging the UN Human Rights Council to secure UN monitoring and reporting of the Egyptian government's \u201cpervasive abuses.\u201d<\/p>\n\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/human-rights-watch\/\">Human Rights Watch<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/un\/\">UN<\/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=\"557720\" class=\"issue-section \">\n<div class=\"issue-section__content\">\n<div class=\"stories\">    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"557721\" 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=\"557721\">\r\n            \r\n                <div class=\"issue-story-header text-center\">\r\n                    <div class=\"index-number\">10<\/div>\r\n\r\n                    <p class=\"f-graphik\">Also on our Radar<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2021\/09\/29\/citibank-could-be-on-board-to-finance-renewable-energy-green-hydrogen-projects-in-egypt\/\">\r\n                            Citibank could be on board to finance renewable energy, green hydrogen projects in Egypt                        <\/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\/29\/citibank-could-be-on-board-to-finance-renewable-energy-green-hydrogen-projects-in-egypt\/\" 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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Egypt&url=https:\/\/enterpriseam.com\/egypt\/2021\/09\/29\/citibank-could-be-on-board-to-finance-renewable-energy-green-hydrogen-projects-in-egypt\/\">\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\/29\/citibank-could-be-on-board-to-finance-renewable-energy-green-hydrogen-projects-in-egypt\/&title=Citibank could be on board to finance renewable energy, green hydrogen projects in Egypt\">\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=Citibank+could+be+on+board+to+finance+renewable+energy%2C+green+hydrogen+projects+in+Egypt+https%3A%2F%2Fenterpriseam.com%2Fegypt%2F2021%2F09%2F29%2Fcitibank-could-be-on-board-to-finance-renewable-energy-green-hydrogen-projects-in-egypt%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\/29\/citibank-could-be-on-board-to-finance-renewable-energy-green-hydrogen-projects-in-egypt\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-557721\" class=\"content-area-description single-story post-557721 post type-post status-publish format-standard hentry category-also-on-our-radar tag-also-on-our-radar tag-citigroup tag-consumer-finance tag-electricity tag-enterpriseam tag-saudi-arabia wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<p><strong>Citi to finance power projects?<\/strong> Citibank could provide financing for renewable energy, desalination, and green hydrogen projects in Egypt, the Electricity Ministry <a href=\"https:\/\/bit.ly\/3zNDfnV\">said yesterday<\/a> following a meeting between Minister Mohamed Shaker and a senior bank official.<\/p>\n<p><strong>NBE to open branch in Saudi: <\/strong>The Saudi cabinet has <a href=\"https:\/\/bit.ly\/3CY5i6b\">granted a license<\/a> to the National Bank of Egypt (NBE) to open a branch in the kingdom.<\/p>\n\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/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\/citigroup\/\">Citigroup<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/consumer-finance\/\">consumer finance<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/electricity\/\">electricity<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/saudi-arabia\/\">Saudi Arabia<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                    <\/div>\n    <\/div>\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"557722\" 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=\"557722\">\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\/29\/stock-sell-off-accelerates-as-inflation-rising-yields-us-debt-talks-weigh-on-sentiment\/\">\r\n                            Stock sell-off accelerates as inflation, rising yields + US debt talks weigh on sentiment                        <\/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\/29\/stock-sell-off-accelerates-as-inflation-rising-yields-us-debt-talks-weigh-on-sentiment\/\" 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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id=\"post-557722\" class=\"content-area-description single-story post-557722 post type-post status-publish format-standard hentry category-planet-finance tag-apicorp tag-banking tag-enterpriseam tag-financial-markets tag-green-bonds tag-ma-watch tag-manufacturing tag-planet-finance tag-saudi-arabia wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<aside>\t\t\t<div\r\n\t\t\t\t\t\t\t\tclass=\"newspack-popup-container newspack-popup hidden  newspack-inline-popup  newspack-lightbox-no-border   \"\r\n\t\t\t\trole=\"button\"\r\n\t\t\t\ttabindex=\"0\"\r\n\t\t\t\tstyle=\"background-color:#FFFFFF;color:#000\"\r\n\t\t\t\tid=\"id_408150\"\r\n\t\t\t\tdata-segments=\"\"\r\n\t\t\t\tdata-frequency=\"0,0,0,month\"\r\n\t\t\t>\r\n\t\t\t\t\n<div class=\"wp-block-group has-light-gray-background-color has-background\" style=\"padding-top:0px;padding-right:0px;padding-bottom:0px;padding-left:0px\"><div class=\"wp-block-group__inner-container is-layout-constrained wp-container-core-group-is-layout-ef38739e wp-block-group-is-layout-constrained\">\n<div class=\"wp-block-group is-content-justification-center is-nowrap is-layout-flex wp-container-core-group-is-layout-94bc23d7 wp-block-group-is-layout-flex\"><div class=\"wp-block-image\">\n<figure class=\"aligncenter size-full\"><img decoding=\"async\" src=\"https:\/\/ent.news\/internal\/408151.svg\" alt=\"\" class=\"wp-image-408151\"\/><\/figure>\n<\/div><\/div>\n<\/div><\/div>\n\t\t\t<\/div>\r\n\t\t<\/aside>\n<p><a class=\"content-anchor\" id=\"tldr-story-09\"><\/a> <strong>Bears are throwing a stagflation tea party <\/strong>after <a href=\"https:\/\/www.ft.com\/content\/7541c364-736b-488b-a793-7ba5cf517f49\">yesterday\u2019s market<\/a><a href=\"https:\/\/www.ft.com\/content\/7541c364-736b-488b-a793-7ba5cf517f49\"><\/a><a href=\"https:\/\/www.ft.com\/content\/7541c364-736b-488b-a793-7ba5cf517f49\">headlines<\/a>, as the rise in US bond yields heralded yet further drops across global equity markets. The yield on US 10-year treasuries passed the key 1.50% level for a second day to close at 1.53%, its highest since June. The hawkish turn by the Fed and other central banks, amid high inflation caused by surging energy prices and slower economic growth, saw investors bet on impending interest rate increases and double down on a move out of equities. \u201cThe main market narrative is one of stagflation,\u201d said Swiss bank Lombard Odier\u2019s chief economist.<\/p><p><strong>The looming threat of a US government shutdown and a possible default next month<\/strong> also weighed on stocks.<\/p><p><strong>All of this caused US stocks to have their worst day\u2019s trading since May:<\/strong> The benchmark S&amp;P 500 fell more than 2% during the day, but harder hit was the Nasdaq, which closed 2.8% in the red as tech stocks felt the force of the bond market sell-off. European markets also nursed losses, with shares in France, Germany, Spain and Italy all falling more than 2%.<\/p><p><strong>The price of Brent briefly breached the USD 80 per barrel handle for the first time in three years<\/strong>, before being pulled back towards USD 79 by the equity rout.<\/p><p><strong>ALSO WORTH NOTING-<\/strong><\/p><p><strong>The Arab Petroleum Investments Corporation (Apicorp)<\/strong> <strong>was expected to raise <\/strong><strong>USD 750 mn from a sale of five-year green bonds yesterday, <\/strong>according to a document picked up by <a href=\"https:\/\/reut.rs\/3AVRM2o\">Reuters<\/a>. The proceeds will be used to support green projects in Apioorp\u2019s Green Finance Framework. The lender had not announced the results of the sale as of dispatch time this morning.<\/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>10,447<\/p>\n<\/td>\n<td>\n<p>-0.5% (YTD: -3.7%)<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-none\">\n<td class=\"td-list-none\">\n<p><svg class=\"e-icon e-TypeMarkets\"><use xlink:href=\"#e-TypeMarkets\"><\/use><\/svg><\/p>\n<\/td>\n<td>\n<p><strong>USD (CBE)<\/strong><\/p>\n<\/td>\n<td>\n<p>Buy 15.66<\/p>\n<\/td>\n<td>\n<p>Sell 15.76<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-none\">\n<td class=\"td-list-none\">\n<p><svg class=\"e-icon e-TypeMarkets\"><use xlink:href=\"#e-TypeMarkets\"><\/use><\/svg><\/p>\n<\/td>\n<td>\n<p><strong>USD at CIB<\/strong><\/p>\n<\/td>\n<td>\n<p>Buy 15.66<\/p>\n<\/td>\n<td>\n<p>Sell 15.76<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-none\">\n<td class=\"td-list-none\">\n<p><svg class=\"e-icon e-TypeMarkets\"><use xlink:href=\"#e-TypeMarkets\"><\/use><\/svg><\/p>\n<\/td>\n<td>\n<p><strong>Interest rates CBE<\/strong><\/p>\n<\/td>\n<td>\n<p>8.25% deposit<\/p>\n<\/td>\n<td>\n<p>9.25% lending<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-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>11,382<\/p>\n<\/td>\n<td>\n<p>+0.1% (YTD: +31%)<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-up\">\n<td class=\"td-list-up\">\n<p><svg class=\"e-icon e-TypeMarkets11\"><use xlink:href=\"#e-TypeMarkets11\"><\/use><\/svg><\/p>\n<\/td>\n<td>\n<p><strong>ADX<\/strong><\/p>\n<\/td>\n<td>\n<p>7,756<\/p>\n<\/td>\n<td>\n<p>+0.1% (YTD: +53.7%)<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-up\">\n<td class=\"td-list-up\">\n<p><svg class=\"e-icon e-TypeMarkets11\"><use xlink:href=\"#e-TypeMarkets11\"><\/use><\/svg><\/p>\n<\/td>\n<td>\n<p><strong>DFM<\/strong><\/p>\n<\/td>\n<td>\n<p>2,831<\/p>\n<\/td>\n<td>\n<p>+0.5% (YTD: +13.6%)<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-down\">\n<td class=\"td-list-down\">\n<p><svg class=\"e-icon e-TypeMarkets1\"><use xlink:href=\"#e-TypeMarkets1\"><\/use><\/svg><\/p>\n<\/td>\n<td>\n<p><strong>S<\/strong><strong>&amp;<\/strong><strong>P 500<\/strong><\/p>\n<\/td>\n<td>\n<p>4,352<\/p>\n<\/td>\n<td>\n<p>-2.0% (YTD: +15.9%)<\/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>7,028<\/p>\n<\/td>\n<td>\n<p>-0.5% (YTD: +8.8%)<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-down\">\n<td class=\"td-list-down\">\n<p><svg class=\"e-icon e-TypeMarkets1\"><use xlink:href=\"#e-TypeMarkets1\"><\/use><\/svg><\/p>\n<\/td>\n<td>\n<p><strong>Brent crude<\/strong><\/p>\n<\/td>\n<td>\n<p>USD 79.09<\/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 5.84<\/p>\n<\/td>\n<td>\n<p>+2.4%<\/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>Gold<\/strong><\/p>\n<\/td>\n<td>\n<p>USD 1,734.20<\/p>\n<\/td>\n<td>\n<p>-0.2%<\/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>BTC<\/strong><\/p>\n<\/td>\n<td>\n<p>USD 41,863<\/p>\n<\/td>\n<td>\n<p>-2.8% (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 0.5% at yesterday\u2019s close<\/strong> on turnover of EGP 1.2 bn (24.5% below the 90-day average). Local investors were net sellers. The index is down 3.7% YTD.<\/p><p><strong>In the green: <\/strong>Abou Kir Fertilizers (+2.7%), Ezz Steel (+2.6%) and GB Auto (+2.5%).<\/p><p><strong>In the red: <\/strong>MM Group (-3.4%), Fawry (-3.1%) and Cleopatra Hospitals (-3.0%).<\/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\/apicorp\/\">Apicorp<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/banking\/\">banking<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/financial-markets\/\">Financial Markets<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/green-bonds\/\">green bonds<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/ma-watch\/\">M&amp;A Watch<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/manufacturing\/\">Manufacturing<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/planet-finance\/\">Planet Finance<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/saudi-arabia\/\">Saudi Arabia<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                    <\/div>\n    <\/div>\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"557723\" 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=\"557723\">\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\/29\/brazilian-vp-mourao-meets-with-el-sisi-defense-minister-zaki\/\">\r\n                            Brazilian VP Mour\u00e3o meets with El Sisi, Defense Minister Zaki                        <\/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\/29\/brazilian-vp-mourao-meets-with-el-sisi-defense-minister-zaki\/\" 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 pair discussed strengthening bilateral relations in security and trade, and encouraging Brazilian investment and tourism to Egypt. They also touched on regional issues including the Israeli-Palestinian conflict, developments in Libya and Tunisia, and the ongoing dispute over the Grand Ethiopian Renaissance Dam (GERD).<\/p>\n<p><strong>Mour\u00e3o also met with Defense Minister Mohamed Zaki<\/strong>, according to an Armed Forces <a href=\"https:\/\/bit.ly\/3EZt3wd\">statement<\/a>. The two discussed strengthening military cooperation.<\/p>\n\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/brazil\/\">Brazil<\/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\/security\/\">security<\/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=\"557724\">\r\n    <div class=\"issue-section__content\">\r\n        <div class=\"alignwide wp-block-columns\">\r\n            <div class=\"wp-block-column sidebar-vertical-info\" style=\"flex-basis:22.8%\">\r\n                <figure class=\"wp-block-image size-full\">\r\n                                            <img decoding=\"async\" src=\"https:\/\/s3.amazonaws.com\/resources.inktankir.com\/internal\/27467.svg\" style=\"width:80%\" alt=\"\" >\r\n                                    <\/figure>\r\n                <p>\r\n                    Our weekly deep-dive into infrastructure in Egypt.                <\/p>\r\n                <figure class=\"wp-block-image size-full mt-0 mb-0 img-white-bg\"><img decoding=\"async\" src=\"https:\/\/s3.amazonaws.com\/resources.inktankir.com\/internal\/27479.svg\" alt=\"\"><\/figure>\r\n                <p class=\"has-text-color has-link-color\">\r\n                    Published every Wednesday in EnterpriseAM.                <\/p>\r\n                <div class=\"wp-block-buttons mt-0\">\r\n                    <div class=\"wp-block-button\">\r\n                        <a class=\"wp-block-button__link has-background wp-element-button\" href=\"https:\/\/enterpriseam.com\/egypt\/hardhat\/\">\r\n                            Read Hardhat                        <\/a>\r\n                    <\/div>\r\n                <\/div>\r\n            <\/div>\r\n            <div class=\"wp-block-column issue-section\">\r\n                <div class=\"story-section\">\r\n                    <div class=\"issue-story-header text-center\">\r\n                        <div class=\"index-number\">12<\/div>\r\n    \r\n                        \r\n                        <h3 class=\"story-title\"><a href=\"https:\/\/enterpriseam.com\/egypt\/hardhats\/bahr-el-baqar-egypts-record-breaking-wastewater-treatment-facility\/\"> \r\n                            Bahr El Baqar: Egypt\u2019s record-breaking wastewater treatment facility<\/a>\r\n                        <\/h3>\r\n    \r\n\t\t\t\t\t\n<div class=\"cta\">\n    <div class=\"cta__btn share-dropdown-cta dropdown-toggle-btn\" style=\"position:relative\">\n        <img decoding=\"async\" src=\"https:\/\/ent.news\/internal\/408834.svg\" alt=\"\">\n        Share Story\n        <!-- Dropdown Menu -->\n        <ul class=\"share-menu\">\n            <li class=\"list-inline-item\">\n                <a href=\"https:\/\/enterpriseam.com\/egypt\/hardhats\/bahr-el-baqar-egypts-record-breaking-wastewater-treatment-facility\/\" 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\/hardhats\/bahr-el-baqar-egypts-record-breaking-wastewater-treatment-facility\/')\">\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\/hardhats\/bahr-el-baqar-egypts-record-breaking-wastewater-treatment-facility\/\">\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=Bahr El Baqar: Egypt\u2019s record-breaking wastewater treatment facility&url=https:\/\/enterpriseam.com\/egypt\/hardhats\/bahr-el-baqar-egypts-record-breaking-wastewater-treatment-facility\/\">\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\/hardhats\/bahr-el-baqar-egypts-record-breaking-wastewater-treatment-facility\/&title=Bahr El Baqar: Egypt\u2019s record-breaking wastewater treatment facility\">\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=Bahr+El+Baqar%3A+Egypt%E2%80%99s+record-breaking+wastewater+treatment+facility+https%3A%2F%2Fenterpriseam.com%2Fegypt%2Fhardhats%2Fbahr-el-baqar-egypts-record-breaking-wastewater-treatment-facility%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>                    <\/div>\r\n    \r\n                    <div class=\"story__body\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/hardhats\/bahr-el-baqar-egypts-record-breaking-wastewater-treatment-facility\/\">\r\n                            <div class=\"photo photo--above\">\r\n                                <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2021\/9\/396.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=\"557725\" data-permalink=\"https:\/\/enterpriseam.com\/egypt\/hardhats\/bahr-el-baqar-egypts-record-breaking-wastewater-treatment-facility\/396-jpg-7\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2021\/9\/396.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"396.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2021\/9\/396.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2021\/9\/396.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                            <\/div>\r\n                        <\/a>\r\n                        \n<article id=\"post-557724\" class=\"content-area-description post-557724 hardhat type-hardhat status-publish has-post-thumbnail hentry tag-enterprise-hardhat tag-enterpriseam tag-orascom-construction tag-water 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>PROJECT PROFILE- Egypt just opened the largest wastewater treatment plant in <\/strong><strong>the world:<\/strong> One of the biggest challenges facing Egypt in the coming years will be securing itself enough water to sustain its rapidly growing population and expanding economy. But with climate change and threat of the Grand Ethiopian Renaissance Dam (GERD) threatening to disrupt its Nile water supply, policymakers are having to turn to alternative sources to protect against water stress.<\/p>\n<p><strong>Enter Bahr El Baqar:<\/strong> Started in 2019 and <a href=\"https:\/\/bit.ly\/3kIkpKD\">inaugurated earlier this week<\/a>, the EGP 18 bn Bahr El Baqar wastewater treatment plant is the largest facility of its kind in the world, treating around 5 mn cubic meters of water from the Bahr El Baqar basin every day. The 155-feddan facility <a href=\"https:\/\/www.mena.org.eg\/en\/news\/dbcall\/table\/textnews\/id\/9188887\">has four treatment lines<\/a>, each with the capacity to process 1.25 mn cbm of water each day.<\/p>\n<p><strong>Orascom Construction and Arab Contractors took the lead on construction<\/strong>, <a href=\"https:\/\/enterprise.press\/stories\/2019\/05\/02\/orascom-construction-adds-usd-475-mn-to-backlog-in-1q2019\/\">signing a USD<\/a><a href=\"https:\/\/enterprise.press\/stories\/2019\/05\/02\/orascom-construction-adds-usd-475-mn-to-backlog-in-1q2019\/\">739 mn contract<\/a> with the military in 2019 that will also see the companies in charge of operating and maintaining it for the next five years.<\/p>\n<p><strong>The plant will process water from the Bahr El Baqar drain:<\/strong> Located east of the Suez Canal, the drain runs 190 km, linking the eastern part of Greater Cairo with Lake Manzala, which lies adjacent to the Mediterranean Sea west of Port Said.<\/p>\n<p><strong>The Bahr El Baqar drain is one of the most polluted in the country<\/strong>, according to a <a href=\"https:\/\/ent.news\/2021\/9\/Environmental-ReuseofBahrElbaqarDrain-finalreport.pdf\">2018<\/a><a href=\"https:\/\/ent.news\/2021\/9\/Environmental-ReuseofBahrElbaqarDrain-finalreport.pdf\">research paper (pdf)<\/a>. Industrial waste and sewage from Cairo and agricultural run-off, pesticides and fertilizers from the Delta all end up flowing into the drain. The water quality scores 37-48 on the water quality index, sitting on the edge between poor and marginal,<\/p>\n<p><strong>Much of this water is used for irrigation and fishing:<\/strong> Water flowing into the drain is reused by farmers for irrigation, while Lake Manzala \u2014 an important fishing site \u2014 receives <a href=\"https:\/\/publikationen.bibliothek.kit.edu\/270078296\">60 cbm of wastewater from the drain every second<\/a>.<\/p>\n<p><strong>The plant is just one part of a wider Bahr El Baqar project<\/strong> that also comprises pumping stations and a water carrier, all of which is expected to be completed <a href=\"https:\/\/www.arabfund.org\/Default.aspx?pageId=359&pId=2430\">by the end of 2022<\/a>. The Arab Fund for Economic and Social Development (AFESD), which is helping to fund the project, estimated back in 2019 that the total cost of the project \u2014 including land, consultancy and related agricultural facilities \u2014 would reach around EGP 44 bn.<\/p>\n<p><strong>All of this means more agricultural land:<\/strong> The plant will contribute to land reclamation and cultivation of land east of the Suez Canal in the Sinai. Water will be sent from the plant to irrigate <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/d391a16c-41f6-4cc3-90fd-3d9e7a2a3083\">some 475k feddans<\/a> of land.<\/p>\n<p><strong>We know some of where the money has come from:<\/strong> Gulf funds have so far provided KWD 220 mn (around EGP 11.5 bn based on today\u2019s exchange rate. The Kuwait Fund for Economic Development provided two loans worth KWD 75 mn (around EGP 3.9 bn) and the AFESD disbursed KWD 145 mn (EGP 7.5 bn) across two loan tranches; <a href=\"https:\/\/www.arabfund.org\/Default.aspx?pageId=359&pId=2430\">one KWD 70 mn<\/a> tranche in 2018 and a <a href=\"https:\/\/www.arabfund.org\/Default.aspx?pageId=359&pId=2528\">second worth KWD 75 mn<\/a> the year after.<\/p>\n<p><strong>The private sector and the government are funding the rest<\/strong>: According to the AFESD, the private sector was due to provide two-thirds of the overall funding (EGP 29.7 bn) and the government remainder. We have been unable to ascertain where the rest of the financing is coming from.<\/p>\n<p><strong>Bahr El Baqar is part of the Sinai development program, <\/strong>a set of infrastructure projects and development initiatives aimed at strengthening the local economy and raising the standard of living for people in the region. Between 2014 and 2020 <a href=\"https:\/\/bit.ly\/2ZwmGjM\">EGP 600-700 bn<\/a> was spent on a variety of projects, including transport, irrigation, sanitation, and housing infrastructure.<\/p>\n<p><strong>A record-setting endeavour:<\/strong> Speaking in a daytime TV interview earlier this week (<a href=\"https:\/\/www.youtube.com\/watch?v=u7ZHpWeH0Mk&t=18s\">watch,<\/a><a href=\"https:\/\/www.youtube.com\/watch?v=u7ZHpWeH0Mk&t=18s\">runtime: 12:32<\/a>), CEO of Guinness\u2019 local partner Ahmed Makled said that the Bahr El Baqar plant broke three Guinness World Records. Not only is it the largest treatment plant in the world, processing 64.8 cbm of water per second, it is also the biggest sludge treatment facility and largest ozone generation and operation plant in the world.<\/p>\n<p><strong>Egypt is planning to break its own record with another water treatment in the pipeline:<\/strong> The government has contracted Orascom Construction, Hassan Allam Construction, Arab Contractors and Metito to establish <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/937f8328-b0fc-4e1f-84d9-893ddd22fc8f\">the El Hammam agricultural wastewater plant<\/a>, which will process 6 mn cbm of water every day \u2014 more than the 5.6 mn cbm capacity of Bahr El Baqar \u2014 allowing the irrigation of up to 500k feddans west of the Nile Delta area. Construction on the plant began in February.<\/p>\n<p><strong>Egypt is facing increasing water stress:<\/strong> Rising global temperatures, a rapidly increasing population and an expanding economy mean that on the current trajectory Egypt will face increasingly severe water stress in the years ahead. <a href=\"https:\/\/www.nature.com\/articles\/s41467-021-24747-9\">An MIT study<\/a> earlier this year said that by the end of the decade the Nile alone may no longer be able to sustain the country, leaving it in a situation of extreme water scarcity. Currently, Egypt\u2019s <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/e946dfc2-96b1-49f6-8a81-4776ec09bf46\">per capita annual share of the Nile\u2019s water is 560 cbm<\/a>, almost half that of the 1k cbm threshold that defines water scarcity, Prime Minister Moustafa Madbouly said earlier this year.<\/p>\n<p><strong>Egypt remains heavily dependent on the Nile, and its ability to reuse water remains <\/strong><strong>limited<\/strong>. Egypt sourced less than 20% of its annual water supply from treated wastewater in 2018-2019. Of the 80.25 bn cubic meters (bcm) used that year, water treatment plants provided only 13.65 bcm compared to 55.5 bcm from the Nile. The government is well aware of this, of course, and has made constructing more water treatment plants <a href=\"https:\/\/enterprise.press\/hardhats\/counting-costs-govts-usd-50-bn-water-saving-plan\/\">a key part of its water strategy<\/a>, alongside its multi-bn EGP plan to ramp up the country\u2019s desalination capacity.<\/p>\n<p><strong>And the GERD isn\u2019t helping<\/strong>: Egypt, Ethiopia and Sudan are still yet to come to an agreement about how to allocate the Nile\u2019s water following the completion of the GERD in a few years time, leaving Egypt potentially facing a significant curtailment of its Nile water share. <a href=\"https:\/\/apnews.com\/article\/fc117ce69bfd9d4f5bcdc700c04cc73c\">According to some estimates<\/a>, the country could 12% of its agricultural land should it permanently lose 5 bcm of water due to the dam.<\/p>\n<hr class=\"grey-line\" \/>\n<p><strong>Your top infrastructure stories for the week:<\/strong><\/p>\n<ul>\n<li><strong>Some building materials companies aren\u2019t happy about the cement supply cuts: <\/strong>Sellers of building materials are <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/0cb77b7a-0811-409a-b777-f2643715c4d2\">planning to lobby<\/a> Egypt\u2019s competition watchdog to scrap cement production cuts put in place earlier this year as rising prices put distributors under pressure.<\/li>\n<li><strong>Shell is <\/strong><strong><a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/666f0d42-c196-4ee2-84dd-f279ba153a89\">out of the Western Desert<\/a><\/strong><strong>:<\/strong> Cheiron and partner Cairn Energy have acquired Shell\u2019s oil and gas assets in the Western Desert under <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/31bffded-092f-4f4c-9755-e585392cd8f6\">an agreement in March<\/a> that could be worth up to USD 926 mn.<\/li>\n<li><strong>A Palm Hills Development subsidiary will <\/strong><strong><a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/2b0d69d2-29f8-4e99-9100-b8d7acf15dd6\">borrow EGP 2.5 bn<\/a><\/strong> from Banque Misr and the National Bank of Egypt to finance its New Cairo residential development.<\/li>\n<\/ul>\n\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/orascom-construction\/\">Orascom Construction<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/water\/\">water<\/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=\"557726\" 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\/29\/your-essential-business-calendar-on-29-september-2021\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-557726\" class=\"content-area-description single-story post-557726 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>14-30 September (Tuesday-Thursday): <a href=\"https:\/\/www.un.org\/en\/ga\/\">76th session of the UN General Assembly<\/a>, New York.<\/p>\n<p>29 September (Wednesday): <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>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 (Thursday): <a href=\"https:\/\/www.almasryalyoum.com\/news\/details\/2420167\">Winter opening hours for shops and restaurants<\/a> begins.<\/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>30 September (Thursday): First tranche of overdue subsidy payouts <a href=\"https:\/\/bit.ly\/3BSLyAg\">will be handed<\/a> to eligible exporters.<\/p>\n<p>30 September (Thursday): Direct flights between Egypt and three Libyan airports <a href=\"https:\/\/www.facebook.com\/pmGNUmedia\/posts\/242139377925128\">resume<\/a>.<\/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): Deadline for state-owned companies and government agencies to sign up to e-invoicing platform.<\/p>\n<p>2 October (Saturday): House returns from recess; new legislative session begins.<\/p>\n<p>5 October (Tuesday): Senate returns from recess; new legislative session begins.<\/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>28 October (Thursday): Second tranche of overdue subsidy payouts <a href=\"https:\/\/bit.ly\/3BSLyAg\">will be handed<\/a> to eligible exporters.<\/p>\n<p>30 October - 4 November (Saturday-Thursday): The first edition of <a href=\"https:\/\/globalswimseries.com\/ryan-lochte-announces-first-race-the-legends-event-in-egypt\/\">Race The Legends<\/a>, Egypt.<\/p>\n<p>November: The French-Egyptian Business Forum is set to take place in the Suez Canal Economic Zone.<\/p>\n<p>November: Egypt will <a href=\"https:\/\/www.facebook.com\/EgyptianCabinet\/posts\/163314772505618\">host another round of talks<\/a> to reach a potential Egyptian-Eurasian trade agreement, which can significantly contribute to increasing the volume of Egyptian exports to the Russia-led bloc that includes Armenia, Belarus, Kazakhstan and Kyrgyzstan.<\/p>\n<p>1-3 November (Monday-Wednesday): Egypt Energy exhibition on power and renewable energy, Egypt International Exhibition Center, Cairo, Egypt.<\/p>\n<p>2-3 November (Tuesday-Wednesday): The Federal Reserve meets to review interest rates.<\/p>\n<p>1-12 November (Monday-Friday): 2021 United Nations Climate Change Conference (COP26), Glasgow, United Kingdom.<\/p>\n<p>16-17 November (Tuesday-Wednesday):<a href=\"https:\/\/africafintechsummit.com\">Africa fintech summit<\/a>, Cairo.<\/p>\n<p>26 November-5 December (Friday-Sunday): <a href=\"https:\/\/www.facebook.com\/CairoFilms\/photos\/a.386668088207064\/1611462495727611\/\">The 43rd Cairo International Film Festival<\/a>.<\/p>\n<p>29 November-2 December (Monday-Thursday): <a href=\"https:\/\/www.egyptdefenceexpo.com\/\">Egypt Defense Expo<\/a>, Egypt International Exhibition Centre.<\/p>\n<p>7-8 December (Tuesday-Wednesday): <a href=\"https:\/\/northafricatradefinance.com\/\">North Africa Trade Finance Summit<\/a>.<\/p>\n<p>8-10 December (Wednesday-Thursday): <a href=\"https:\/\/www.gfhsegypt.com\/\">Global Forum for Higher Education and Scientific Research (GFHS)<\/a>, Cairo, Egypt.<\/p>\n<p>12-14 December (Sunday-Tuesday): <a href=\"http:\/\/www.foodafrica-expo.com\/\">Food Africa Cairo<\/a> trade exhibition, Egypt International Exhibition Center, Cairo, Egypt.<\/p>\n<p>13-17 December: United Nations Convention against Corruption, Sharm El Sheikh, Egypt.<\/p>\n<p>14-19 December (Tuesday-Sunday): <a href=\"https:\/\/www.facebook.com\/cifcet\/\">The Cairo International Festival for Experimental Theater<\/a>.<\/p>\n<p>14-15 December (Tuesday-Wednesday): The Federal Reserve meets to review interest rates.<\/p>\n<p>15 December (Wednesday): Deadline for joint stock companies and investment companies in Cairo to join e-invoicing platform.<\/p>\n<p>16 December (Thursday): The CBE\u2019s Monetary Policy Committee will meet to review interest rates.<\/p>\n<p>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>2H2022: <a href=\"https:\/\/www.ief.org\/news\/egypt-to-host-8th-ief-igu-ministerial-gas-forum-in-2022\">IEF-IGU Ministerial Gas Forum<\/a>, Egypt. Date + location TBA.<\/p>\n<p><strong>**Note to readers:<\/strong> Some national holidays may appear twice above. Since 2020, Egypt has observed most mid-week holidays on Thursdays regardless of the day on which they fall and may also move those days to Sundays. We distinguish below between the actual holiday and its observance.<\/p>\n\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":557702,"menu_order":0,"template":"","categories":[],"tags":[],"class_list":["post-557701","issue","type-issue","status-publish","has-post-thumbnail","hentry","wpautop","entry"],"acf":{"mongo_id":"23cf2c1a-a9f5-497b-aff3-22b60d6af94d","teaser":"","photo_url":"https:\/\/ent.news\/2021\/9\/388.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 Abu Auf\u2019s parent company eyes IPO of up to 49% in 2Q2022 - 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-abu-aufs-parent-company-eyes-ipo-of-up-to-49-in-2q2022\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Enterprise Abu Auf\u2019s parent company eyes IPO of up to 49% in 2Q2022\" \/>\n<meta property=\"og:url\" content=\"https:\/\/enterpriseam.com\/egypt\/issues\/enterprise-abu-aufs-parent-company-eyes-ipo-of-up-to-49-in-2q2022\/\" \/>\n<meta property=\"og:site_name\" content=\"EnterpriseAM Egypt\" \/>\n<meta property=\"article:modified_time\" content=\"2025-12-16T01:47:34+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\/388.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-abu-aufs-parent-company-eyes-ipo-of-up-to-49-in-2q2022\/\",\"url\":\"https:\/\/enterpriseam.com\/egypt\/issues\/enterprise-abu-aufs-parent-company-eyes-ipo-of-up-to-49-in-2q2022\/\",\"name\":\"Enterprise Abu Auf\u2019s parent company eyes IPO of up to 49% in 2Q2022 - 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