{"id":561034,"date":"2021-03-23T03:59:25","date_gmt":"2021-03-23T03:59:25","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/?post_type=issue&#038;p=561034"},"modified":"2025-12-16T03:08:46","modified_gmt":"2025-12-16T03:08:46","slug":"enterprise-idh-is-one-step-closer-to-listing-on-the-egx","status":"publish","type":"issue","link":"https:\/\/enterpriseam.com\/egypt\/issues\/enterprise-idh-is-one-step-closer-to-listing-on-the-egx\/","title":{"rendered":"Enterprise IDH is one step closer to listing on the EGX"},"content":{"rendered":"<section id=\"561036\" 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=\"561036\">\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\/03\/23\/what-were-tracking-on-23-march-2021\/\">\r\n                            What we\u2019re tracking on 23 March 2021                        <\/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\/03\/23\/what-were-tracking-on-23-march-2021\/\" 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\/03\/23\/what-were-tracking-on-23-march-2021\/')\">\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\/03\/23\/what-were-tracking-on-23-march-2021\/\">\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=What we\u2019re tracking on 23 March 2021&url=https:\/\/enterpriseam.com\/egypt\/2021\/03\/23\/what-were-tracking-on-23-march-2021\/\">\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\/03\/23\/what-were-tracking-on-23-march-2021\/&title=What we\u2019re tracking on 23 March 2021\">\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=What+we%E2%80%99re+tracking+on+23+March+2021+https%3A%2F%2Fenterpriseam.com%2Fegypt%2F2021%2F03%2F23%2Fwhat-were-tracking-on-23-march-2021%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\/03\/23\/what-were-tracking-on-23-march-2021\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-561036\" class=\"content-area-description single-story post-561036 post type-post status-publish format-standard hentry category-what-were-tracking-today tag-egyptian-iron-and-steel tag-enterpriseam tag-what-were-tracking-today wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<aside>\t\t\t<div\r\n\t\t\t\t\t\t\t\tclass=\"newspack-popup-container newspack-popup hidden  newspack-inline-popup  newspack-lightbox-no-border   \"\r\n\t\t\t\trole=\"button\"\r\n\t\t\t\ttabindex=\"0\"\r\n\t\t\t\tstyle=\"background-color:#FFFFFF;color:#000\"\r\n\t\t\t\tid=\"id_27645\"\r\n\t\t\t\tdata-segments=\"\"\r\n\t\t\t\tdata-frequency=\"0,0,0,month\"\r\n\t\t\t>\r\n\t\t\t\t\n<div class=\"wp-block-group has-light-gray-background-color has-background\" style=\"padding-top:0px;padding-right:0px;padding-bottom:0px;padding-left:0px\"><div class=\"wp-block-group__inner-container is-layout-constrained wp-container-core-group-is-layout-ef38739e wp-block-group-is-layout-constrained\">\n<div class=\"wp-block-group is-content-justification-center is-nowrap is-layout-flex wp-container-core-group-is-layout-94bc23d7 wp-block-group-is-layout-flex\">\n<p class=\"f-graphik\" style=\"font-size:14px\">Together with<\/p>\n\n\n<div class=\"wp-block-image\">\n<figure class=\"aligncenter size-full\"><img decoding=\"async\" src=\"https:\/\/s3.amazonaws.com\/resources.inktankir.com\/internal\/27482.svg\" alt=\"\" class=\"wp-image-27482\"\/><\/figure>\n<\/div><\/div>\n<\/div><\/div>\n\t\t\t<\/div>\r\n\t\t<\/aside>\n<p><strong>Good morning, friends, and welcome to Tuesday. <\/strong>It\u2019s a brisk news morning for you today, with news from across a wide spectrum of industries and a quiet day on the government affairs and regulation fronts.<\/p><p><strong>The two biggest stories of the day are out of the healthcare sector: <\/strong>Consumer healthcare giant IDH has gotten regulatory approval to move ahead with a technical listing on the EGX. And on the covid front, there now appears to be a chance we\u2019re going to manufacture Sinovac\u2019s vaccine here in Egypt, although talks appear to be at a reasonably early stage. Sinovac is not the same as the Sinopharm jab we\u2019re deploying now in the first phase of vaccine rollouts here in Egypt, as we explain below, and has a lower efficacy rate.<\/p><p><strong>WHAT\u2019S HAPPENING TODAY- <\/strong><\/p><p><strong>Prime Minister Moustafa Madbouly will be in Amman today<\/strong> to attend a meeting of the Joint Jordanian-Egyptian Higher Committee, which will discuss economic, commercial, and investment ties. according to Jordan\u2019s <a href=\"https:\/\/press.us9.list-manage.com\/track\/click?u=3f7bc576715ca1a70edef2788&amp;id=cd1a1e915f&amp;e=17bb9015a7\">Petra<\/a> news agency.<\/p><p><strong>AUC Venture Lab is hosting a virtual roundtable event today<\/strong> to discuss <a href=\"https:\/\/up-fuse.com\/\">Up-Fuse<\/a>\u2019s growth from local startup to internationally-recognized social enterprise. Find out more <a href=\"https:\/\/ent.news\/2021\/3\/V-Lab-media-advisory-English.pdf\">here (pdf)<\/a>.<\/p><p><strong>MARKET WATCH-<\/strong><\/p><p><strong>The EGX is now in the red for the year to date <\/strong>after the EGX30 fell 2.5% yesterday on reasonably low turnover (at just under EGP 940 mn, it\u2019s about 36% below the trailing 90-day average). The benchmark index is now down 2.8% YTD after having spent most of the time since 1 January solidly in the green.<\/p><p><strong>The details of Egyptian Iron and <\/strong><strong>Steel\u2019s liquidation<\/strong><strong> will be announced in the <\/strong><strong>coming days<\/strong>, <a href=\"https:\/\/bit.ly\/3cTe5ee\">the local press<\/a> reported, citing sources it claims have knowledge of the decision. The company is being liquidated in a<a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/9bad9da9-4715-4ca2-af68-dc753167b285\">two-year process<\/a> that includes spinning off its mining operation to create a new entity, Iron and Steel for Mines and Quarries, which is supposed to be listed on the EGX this month.<\/p><p><strong>PSA- The hot, dusty weather is set to continue again today in much of Egypt<\/strong>, with the sandy conditions lasting at least until tomorrow morning, according to <a href=\"https:\/\/www.facebook.com\/ema.gov.eg\/posts\/4164874576880539\">a warning from<\/a> the national weather service. We\u2019re looking at a high this afternoon of 32\u00b0C, but the mercury could cool tomorrow to 22\u00b0C (with a chance of high winds) setting up a nice weekend, according to our favourite weather app.<\/p><p><a id=\"tldr-story-08\" class=\"content-anchor\"><\/a> <strong>*** CATCH UP QUICK<\/strong> with the top stories from yesterday\u2019s edition of EnterprisePM:<\/p><ul>\n<li>Bank of America is <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/44e7eec9-9292-4bf9-9d3a-557d9053d950\">penciling in<\/a><strong><a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/44e7eec9-9292-4bf9-9d3a-557d9053d950\">a recovery<\/a><\/strong><strong> in tourism to Egypt for 2022<\/strong>.<\/li>\n<li><strong>EgyptAir <\/strong><strong><a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/f1292803-025d-4743-942f-82c40eea2f75\">looks to Africa<\/a><\/strong> \u2014 as an investor, not just as an operator of routes.<\/li>\n<li><strong>Covid cases <\/strong><strong><a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/e8ebb948-387f-4a4c-b5a3-434084d82a69\">are rising<\/a><\/strong><strong> in much of the world<\/strong>, not just Egypt.<\/li>\n<\/ul><p><strong>Other things we\u2019re watching this morning:<\/strong><\/p><p><strong>THE BIG STORY ABROAD as we kick off this workday: We aren\u2019t the only ones who love <\/strong><strong>investing in massive infrastructure projects <\/strong>to build (and support) the economy of tomorrow: The Biden administration has put together a \u201cmultipart infrastructure and economic package\u201d that will cost somewhere between <strong>USD 3 tn and USD 4 tn<\/strong>. (Yes, tn with a \u201ct\u201d.) \u201c<strong>The first proposal would center on roads, bridges and other infrastructure projects<\/strong>\u201d and include plenty of climate-change initiatives, the WSJ notes. A second wave would focus on education, including universal prekindergarten and offering access to community college education without charge.<\/p><p><strong>The story is getting tons of digital ink this morning <\/strong>and leads the front pages of the <a href=\"https:\/\/www.wsj.com\/articles\/biden-administration-officials-put-together-3-trillion-economic-plan-11616443881\">Wall<\/a> <a href=\"https:\/\/www.wsj.com\/articles\/biden-administration-officials-put-together-3-trillion-economic-plan-11616443881\">Street Journal<\/a> (which says the program is worth about USD 3 tn) and <a href=\"https:\/\/www.reuters.com\/article\/us-usa-biden-spending\/biden-infrastructure-jobs-spending-push-could-hit-4-trillion-source-idUSKBN2BE2QR\">Reuters<\/a> (which pegs it at USD 4 tn). It\u2019s also at the top of the page on <a href=\"https:\/\/www.bloomberg.com\/news\/articles\/2021-03-22\/biden-starts-big-infrastructure-bet-with-u-s-far-behind-china?srnd=premium&amp;sref=mmeFTDW1\">Bloomberg<\/a>, which notes that \u201cChina has already been spending big on road, rail and airports\u201d and that previous US presidents have struggled to deliver on investments in infrastructure. <a href=\"https:\/\/fortune.com\/2021\/03\/22\/biden-infrastructure-plan-3-trillion-two-bills\/\">Fortune<\/a> also has the story.<\/p><p><strong>MEANWHILE: 2021 has jumped the shark.<\/strong> Need proof? Look no further than the Financial Times\u2019 lead story this morning: <a href=\"https:\/\/www.ft.com\/content\/46561422-9edd-4b3b-959c-85754a381d9d\">WeWork tells investors it lost USD 3.2 bn last year as it woos them for Spac [transaction].<\/a><\/p><p class=\"web-image\"><img data-recalc-dims=\"1\" decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2021\/3\/Kashat_1600px.jpg?ssl=1\" alt=\"enterprise\"><\/p><p><a id=\"tldr-story-07\" class=\"content-anchor\"><\/a> <strong>CLOSER TO HOME: Our friends at Kashat, one of Egypt\u2019s hottest fintech startups, <\/strong><strong>concluded a private seed-extension <\/strong><strong>round <\/strong>in December led by the Cairo Angels, co-founders <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/0cac6cd8-279a-4000-a89a-42a63bd2685e\">Karim Nour<\/a> and Sumair Farooqui (<a href=\"https:\/\/www.linkedin.com\/in\/sumairfarooqui?originalSubdomain=pk\">LinkedIn<\/a>) tell us. Both Kashat and Cairo Angels declined to specify a ticket size, but said the transaction was the Angels\u2019 largest investment in its decade-long history. The news comes a day after the company, Egypt\u2019s first FRA-regulated nano-finance player, <strong>integrated with e-payment platform Fawry<\/strong>. Kashat has already integrated with Vodafone Cash and Aman, and the Fawry hookup will give customers more cash-in and cash-out venues thanks to Fawry\u2019s sprawling national network. Kashat was <strong>recently named one of the country\u2019s top fintech players <\/strong>by <a href=\"https:\/\/df.media\/these-are-the-top-fintech-financial-technology-companies-in-egypt-2021\/\">Daily Finance<\/a> and launched a <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/d0e1e660-085f-4d96-bc99-eb2670afa9e2\">national nano-finance campaign<\/a> in January.<\/p><p><em>CORRECTION- 26 April 2021<\/em><\/p><p><em>An earlier version of this story incorrectly spelled Farooqui.<\/em><\/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>CIRCLE YOUR CALENDAR-<\/strong><\/p><p><strong><a href=\"https:\/\/www.therealgate.com\/visit\/register-your-interest-to-visit\/\">The Real Gate real estate exhibition<\/a><\/strong><strong> will kick off on Thursday<\/strong> and run until Saturday at the Egyptian International Exhibition Center.<\/p><p><strong>Head to Sharm for a startup gathering:<\/strong> Investors, entrepreneurs and policymakers will gather in Sharm El Sheikh for the <a href=\"https:\/\/ec.aast.edu\/contenttemp.php?page_id=48200111\">Startup Festival<\/a> on 28-29 March 2021. More than 80 startups will participate in the exhibition, which will feature panel discussions and workshops. The gathering will also unveil who is taking home hardware from the \u201cEgypt Entrepreneurship Rally Competition.\u201d The gathering is organized by the Arab Academy for Science, Technology &amp; Maritime Transport, and companies that have graduated from AAST\u2019s supply chain and logistics as well as youth incubators have the chance to pitch their ideas to investors.<\/p><p><strong>The<\/strong> <strong><a href=\"https:\/\/nmec.gov.eg\/\">National Museum of Egyptian Civilization<\/a><\/strong><strong> is set to open on 3 April in El Fustat. <\/strong>Local and international visitors alike will have to pay less for admission for the first two weeks to explore the museum\u2019s central hall, according to a cabinet <a href=\"http:\/\/bit.ly\/3tDd9kE\">statement<\/a>. Meanwhile, the Royal Mummies Hall will be ready for visitors starting 18 April. The museum is designed as a celebration of Egyptian civilization from prehistory to the present day.<\/p><p><strong>Check out our full calendar on the web<\/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\/2021\/3\/INFINITY-Top-banner-EN-1600x675-v2-02.png?ssl=1\" alt=\"enterprise\"><\/p><p><strong>*** It\u2019s Going Green day \u2014 your weekly briefing of all things green economy in Egypt:<\/strong> Enterprise\u2019s green economy vertical focuses each Tuesday on the business of renewable energy and sustainable practices in Egypt, everything from solar and wind energy through to water, waste management, sustainable building practices and how you can make your business greener, whatever the sector.<\/p><p><strong>In today\u2019s issue: <\/strong>In keeping with this week\u2019s theme of shining a spotlight on startups in various sectors that we cover, we look at startups that are addressing environmental issues as their core focus.<\/p>\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/egyptian-iron-and-steel\/\">Egyptian Iron and Steel<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/what-were-tracking-today\/\">What We&#039;re Tracking Today<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                    <\/div>\n    <\/div>\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"561037\" class=\"issue-section \">\n<div class=\"issue-section__content\">\n<div class=\"stories\">            <!-- Show divider before story section -->\r\n        <div \r\n            class=\"\r\n                            \"\r\n            id=\"561037\">\r\n            \r\n            <div class=\"story__body\">\r\n\r\n                <a href=\"https:\/\/enterpriseam.com\/egypt\/2021\/03\/23\/561037\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-561037\" class=\"content-area-description single-story post-561037 post type-post status-publish format-standard hentry category-uncategorized wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<p class='web-image'><a href='https:\/\/somabay.com\/'><img decoding=\"async\" data-recalc-dims=\"1\" src=\"https:\/\/i0.wp.com\/ent.news\/2021\/3\/Somabay_Mothers-Day_1600px.jpg?ssl=1\" alt='enterprise'><\/a><\/p>\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"561038\" 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=\"561038\">\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\/03\/23\/idh-is-one-step-closer-to-listing-on-egx\/\">\r\n                            IDH is one step closer to listing on EGX                        <\/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\/03\/23\/idh-is-one-step-closer-to-listing-on-egx\/\" 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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IDH had <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/60502ff9-66f9-4b0e-939d-b8d68cfe0863\">submitted the paperwork<\/a> for its EGX listing to the FRA last month, ahead of <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/b4222023-4523-4073-9629-197b653c72de\">a potential IPO during 1H2021.<\/a> The company said it is still in the process of obtaining further regulatory approvals before commencing the IPO, according to the disclosure.<\/p>\n<p><strong>No new equity for sale:<\/strong> IDH confirmed it would not be offering new shares, according to the statement, and will be pursuing a first-in-Egypt technical listing designed to improve the visibility and accessibility of its shares to investors in other markets. The company will offer at least 5% of its shares on the EGX to meet freefloat requirements.<\/p>\n<p><strong>Why the dual listing?<\/strong> \u201cThe listing will give Egypt-based and regional investors as well as global emerging markets specialists, who are sometimes unable to access shares traded on the LSE, the chance to trade IDH's shares,\u201d the company said. The move will see IDH's ordinary shares traded between the two exchanges with trading on the EGX to be denominated in EGP.<\/p>\n<p><strong>A boost to the EGX: <\/strong>IDH\u2019s \u201cmarket capitalization of over USD 600 mn will add significant value to the EGX and strengthen its position as a key entry point for MENA equity and debt capital markets,\u201d CEO Dr. Hend El Sherbini said in the statement.<\/p>\n<p><strong>IDH was the first Egyptian company to list on the LSE in 2015.<\/strong> The company owns the Al Borg and Al Mokhtabar lab network in Egypt and has a strong presence in Jordan, Nigeria, and Sudan.<\/p>\n<p><strong>Advisors:<\/strong> EFG Hermes and Renaissance Capital are quarterbacking the transaction, while White & Case, Clifford Chance, and Ogier are counsel. Inktank is investor relations advisor.<\/p>\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/capital-markets\/\">capital markets<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/egx\/\">EGX<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/integrated-diagnostics-holding\/\">Integrated Diagnostics Holding<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/ipo-watch\/\">IPO watch<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/london-stock-exchange\/\">London Stock Exchange<\/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=\"561040\" 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=\"561040\">\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\">COVID WATCH<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2021\/03\/23\/we-could-make-sinovac-tourism-workers-at-the-head-of-the-line\/\">\r\n                            We could make Sinovac + tourism workers at the head of the line                        <\/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\/03\/23\/we-could-make-sinovac-tourism-workers-at-the-head-of-the-line\/\" 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 minister announced <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/69472ef9-9ee9-4af9-b020-309cccfa9b29\">last December<\/a> that negotiations over a license are ongoing and that Egypt has already established a production line for the vaccine at state-owned vaccine maker Vacsera. We\u2019re also getting closer to an Egyptian covid jab, with clinical trials for a local vaccine named Covi Vax <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/b5524763-ab2f-4eb3-a685-052091da22da\">due to start soon<\/a>.<\/p>\n<p><strong>Sinovac \u2260 Sinopharm. <\/strong>The Sinovac jab has pros and cons. It\u2019s a two-dose vaccine that is easily stored in a normal refrigerator, but its efficacy rate lags Sinopharm. Sinvovac <a href=\"https:\/\/www.businesswire.com\/news\/home\/20210205005496\/en\/Sinovac-Announces-Phase-III-Results-of-Its-COVID-19-Vaccine\">said last month<\/a> that phase three trials in Brazil, Turkey, Indonesia, and Chile wound it had a nearly 51% efficacy rate in preventing all cases of covid-19, prevented 84% of cases that would have required medical treatment and 100% of \u201chospitalized, severe, and fatal cases.\u201d Sinopharm, used here and in the UAE, among other countries, has an overall efficacy rate of 79%.<\/p>\n<p><strong>Meanwhile, Egypt is set to buy an undisclosed quantity of the Sinopharm jab<\/strong>, Zayed added, after taking receipt of the second 300k-dose gift shipment of the vaccine from China <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/b5524763-ab2f-4eb3-a685-052091da22da\">earlier this week<\/a>. <strong>We\u2019re still waiting for some 5 mn doses of AstraZeneca <\/strong>out of an 8.6 mn dose order. The shipment, already delayed as AstraZeneca faces production challenges, should be here by month\u2019s end.<\/p>\n<p><strong>The WHO could lend us a hand for our vaccine manufacturing plans<\/strong> by sending medical delegations and experts to Egypt to participate in the production of jabs that we will then export to African countries, WHO\u2019s Egypt head of mission Naeema Al Gasseer said yesterday during a meeting with Zayed, according to a ministry <a href=\"http:\/\/bit.ly\/3cUEQPn\">statement<\/a>.<\/p>\n<p><strong>All tourism workers in Sinai and the Red Sea are expected to be vaccinated by the end of <\/strong><strong>May<\/strong> after the Health Ministry decided to add them to the same priority level in the country\u2019s vaccination program as the elderly and chronically ill, Minister Hala Zayed told El Hekaya\u2019s Amr Adib over the weekend. The ministry is also planning to have the entirety of Egypt\u2019s medical staff inoculated by the end of next week, Zayed said (<a href=\"https:\/\/www.youtube.com\/watch?v=sSgC-Nm2tmI\">watch, runtime: 6:18<\/a>).<\/p>\n<p><strong>Would-be Hajj goers this year are also getting a share of Egypt\u2019s vaccine stock<\/strong>, Zayed <a href=\"http:\/\/bit.ly\/3rfqu14\">said at a presser<\/a> yesterday. The Tourism Ministry is in wait-and-see mode for Saudi Arabia\u2019s conditions on the pilgrimage, and is taking into account that the kingdom may not allow those who received the Sinopharm jab to enter the country since it has yet to receive WHO approval, Deputy Antiquities and Tourism Minister Ghada Shalaby told Kelma Akhira\u2019s Lamees El Hadidi (<a href=\"https:\/\/www.youtube.com\/watch?v=XYPAD2mzRDY\">watch, runtime: 6:41<\/a>).<\/p>\n<p><strong>Some 30k individuals in Egypt have so far been vaccinated against covid<\/strong> out of a total of 488k whose registrations on the Health Ministry\u2019s <a href=\"https:\/\/egcovac.mohp.gov.eg\/#\/home\">online portal<\/a> were approved, Alaa Eid, who heads the ministry\u2019s preventive healthcare department, said, according to <a href=\"https:\/\/bit.ly\/3f0sw2J\">Youm7<\/a>. That means the ministry has inoculated around 4.5k in two days: As of <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/b5524763-ab2f-4eb3-a685-052091da22da\">Sunday morning<\/a>, a total of 25,500 individuals had received a jab.<\/p>\n<p><strong>As many as 250k individuals could be called to ger their jab this week alone<\/strong>, Zayed had said <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/b5524763-ab2f-4eb3-a685-052091da22da\">on Saturday<\/a>. By our math, that would require 44k jabs per day \u2014 a 19x increase in the ministry\u2019s current pace. The ministry is setting up 5k medical units and 400 hospitals to administer the vaccines, Masaa DMC\u2019s Eman El Hosary noted.<\/p>\n<p><strong>By the end of 2021, Egypt could have inoculated 20% of its population<\/strong> if everything goes according to the ministry\u2019s schedule, health economics professor Islam Annan told El Hosary (<a href=\"https:\/\/www.youtube.com\/watch?v=TTj_MlPhbJk\">watch, runtime: 12:31<\/a>).<\/p>\n<p><strong>The Health Ministry <\/strong><strong><a href=\"https:\/\/bit.ly\/3vPRDLs\">reported<\/a><\/strong><strong> 643 new covid-19 infections yesterday<\/strong>, down slightly from 647 the day before. The ministry also reported 39 new deaths, bringing the country\u2019s total death toll to 11,637. Egypt has now disclosed a total of 196,061 confirmed cases of covid-19.<\/p>\n<p><strong>Europe\u2019s third wave: D\u00e9j\u00e0 vu with a twist.<\/strong> More than a dozen European countries are entering Lockdown 3.0 while the continent struggles to kick its vaccination program into high gear, <a href=\"https:\/\/www.cnbc.com\/2021\/03\/22\/third-covid-wave-hits-europe-france-germany-eye-more-lockdowns.html\">CNBC<\/a> reports. <strong>And Europe isn\u2019t alone: Countries around the world are seeing a significant uptick in<\/strong><strong> covid-19 cases<\/strong>, snapping a six-week streak of declines, partly due to the spread of more infectious variants of the virus, <a href=\"https:\/\/apnews.com\/article\/world-news-pandemics-health-coronavirus-pandemic-united-nations-8ce998fcdb34dd0d4cc5ec5343177ef0\">the Associated Press<\/a> reports, citing a top WHO official. The uptick appears to have everything to do with variants and comparatively little to do with people getting pandemic fatigue and relaxing precautions, the Economist said, as <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/e8ebb948-387f-4a4c-b5a3-434084d82a69\">we noted<\/a> yesterday.<\/p>\n<p><strong>Global supply chains are at risk of further disruptions thanks to unvaccinated <\/strong><strong>sailors on board shipping vessels.<\/strong> Some countries, most notably China, are imposing vaccination requirements at their borders despite over half of the world's 1.7 mn sailors coming from developing countries where vaccines won't be widely available before 2024, according to the<a href=\"https:\/\/www.ft.com\/content\/72feaabd-5f94-40ad-9073-0178db969b23\">Financial Times<\/a>. This mismatch in vaccine policies and availability threaten to result in \u201cchaos\u201d as sailors are barred from disembarking, and are left stranded at sea.<\/p>\n<p><strong>South Africa is selling off some of its unused AstraZeneca vaccines to other <\/strong><strong>African countries <\/strong>after a small-scale trial showed the jab is largely ineffective against its domestic covid-19 variant, <a href=\"https:\/\/www.reuters.com\/article\/us-health-coronavirus-safrica-vaccine\/south-africa-concludes-sale-of-astrazeneca-covid-19-vaccines-health-ministry-says-idUSKBN2BD0K4\">Reuters<\/a> reported, citing a statement from the country\u2019s health ministry.<\/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\/astrazeneca\/\">AstraZeneca<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/china\/\">China<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/covid-19\/\">covid-19<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/europe\/\">Europe<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/hala-zayed\/\">Hala Zayed<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/healthcare\/\">healthcare<\/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\/pharma\/\">pharma<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/sinopharm\/\">Sinopharm<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/sinovac\/\">Sinovac<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/south-africa\/\">South Africa<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/supply-chain\/\">supply chain<\/a>\n    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class=\"index-number\">4<\/div>\r\n\r\n                    <p class=\"f-graphik\">M&amp;A WATCH<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2021\/03\/23\/bank-abc-is-within-arms-reach-of-blom-bank\/\">\r\n                            Bank ABC is within arm\u2019s reach of Blom Bank                        <\/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\/03\/23\/bank-abc-is-within-arms-reach-of-blom-bank\/\" target=\"_blank\">\n                    Open in new tab              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href=\"https:\/\/x.com\/intent\/post?text=Bank ABC is within arm\u2019s reach of Blom Bank&url=https:\/\/enterpriseam.com\/egypt\/2021\/03\/23\/bank-abc-is-within-arms-reach-of-blom-bank\/\">\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\/03\/23\/bank-abc-is-within-arms-reach-of-blom-bank\/&title=Bank ABC is within arm\u2019s reach of Blom Bank\">\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=Bank+ABC+is+within+arm%E2%80%99s+reach+of+Blom+Bank+https%3A%2F%2Fenterpriseam.com%2Fegypt%2F2021%2F03%2F23%2Fbank-abc-is-within-arms-reach-of-blom-bank%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\/03\/23\/bank-abc-is-within-arms-reach-of-blom-bank\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-561041\" class=\"content-area-description single-story post-561041 post type-post status-publish format-standard hentry category-ma-watch tag-bahrain tag-bank-abc tag-banking tag-blom-bank tag-central-bank-of-egypt tag-emirates-nbd tag-enterpriseam tag-lebanon tag-ma-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-03\"><\/a> <strong>Bahrain\u2019s Bank ABC is finalizing its acquisition of Lebanon\u2019s Blom<\/strong><strong> Bank\u2019s Egypt arm<\/strong> after getting the green light from Bahrain and Lebanon\u2019s central banks, according to a report in Al Mal\u2019s print edition citing sources it says are in the know. ABC still needs to get the OK from the Central Bank of Egypt, which is expected to come through within a few days and allow the transaction to officially close. The <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/d079558b-7059-4023-ac16-df3bdf37f46e\">sale<\/a> includes Blom\u2019s physical and non-physical assets and customer accounts, marking the first of two anticipated exits by Lebanese banks.<\/p>\n<p><strong>A refresher:<\/strong> ABC snagged Blom Egypt after the Bahraini bank <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/d980aea2-ce25-489e-be05-bd185c866831\">said<\/a> late last year that it was in exclusive talks to acquire 99.42% of Blom\u2019s Egyptian unit, following several months of speculation about whether fellow GCC lender <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/37cf47b3-8980-4803-8356-afb514ed27de\">Emirates NBD would compete for the acquisition<\/a>. ABC already has a presence in Egypt with Bank ABC Egypt, in which it owns a 93% stake. Blom and rival Bank Audi are leaving Egypt as they struggle in their home market of Lebanon.<\/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\/bahrain\/\">Bahrain<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/bank-abc\/\">Bank ABC<\/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\/blom-bank\/\">Blom Bank<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/central-bank-of-egypt\/\">Central Bank of Egypt<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/emirates-nbd\/\">Emirates NBD<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/lebanon\/\">Lebanon<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/ma-watch\/\">M&amp;A 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=\"561042\" 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=\"561042\">\r\n            \r\n                <div class=\"issue-story-header text-center\">\r\n                    <div class=\"index-number\">5<\/div>\r\n\r\n                    <p class=\"f-graphik\">Energy<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2021\/03\/23\/damietta-lng-plant-ships-first-cargo-to-europe\/\">\r\n                            Damietta LNG plant ships first cargo to Europe                        <\/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\/03\/23\/damietta-lng-plant-ships-first-cargo-to-europe\/\" 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\/03\/23\/damietta-lng-plant-ships-first-cargo-to-europe\/')\">\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\/03\/23\/damietta-lng-plant-ships-first-cargo-to-europe\/\">\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=Damietta LNG plant ships first cargo to Europe&url=https:\/\/enterpriseam.com\/egypt\/2021\/03\/23\/damietta-lng-plant-ships-first-cargo-to-europe\/\">\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\/03\/23\/damietta-lng-plant-ships-first-cargo-to-europe\/&title=Damietta LNG plant ships first cargo to Europe\">\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=Damietta+LNG+plant+ships+first+cargo+to+Europe+https%3A%2F%2Fenterpriseam.com%2Fegypt%2F2021%2F03%2F23%2Fdamietta-lng-plant-ships-first-cargo-to-europe%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\/03\/23\/damietta-lng-plant-ships-first-cargo-to-europe\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-561042\" class=\"content-area-description single-story post-561042 post type-post status-publish format-standard hentry category-energy tag-asia tag-damietta-lng-plant tag-egas tag-energy tag-enterpriseam tag-europe tag-israel tag-oil-and-gas tag-trade wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<p><a id=\"tldr-story-04\" class=\"content-anchor\"><\/a> <strong>The first Europe-bound LNG shipment from the Damietta liquefaction plant <\/strong><strong>arrived in Belgium on Sunday<\/strong> \u2014 almost a month after the facility restarted operations and <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/3613f080-5d75-4b85-af31-1b66fcda3204\">sent out trial shipments<\/a> of gas following an eight-year hiatus, according to <a href=\"https:\/\/www.spglobal.com\/platts\/en\/market-insights\/latest-news\/natural-gas\/032221-first-lng-cargo-to-europe-delivered-from-egypts-damietta-lng-plant\">S&P Global<\/a>. The cargo, which made its way out of the Damietta Port almost a week earlier, will be sold directly to customers in Europe.<\/p>\n<p><strong>Expect to see two more LNG shipments to be loaded and shipped out of the Idku and Damietta plants by early next month<\/strong>, S&P said. The shipments will be offered on an FOB basis and valued at nearly USD 5.80-5.95\/mmbtu.<\/p>\n<p><strong>And Europe will likely overtake Asia as the dominant market for our shipments<\/strong>, as European gas prices are becoming \u201cincreasingly competitive versus Asian spot LNG prices.\u201d Egypt has so far shipped 26 LNG cargoes since the beginning of the year, with 18 of those exported to Asian markets, according to the report. The Idku facility also accounted for the bulk of those cargoes.<\/p>\n<p><strong>But there is skepticism on whether we can keep up the momentum:<\/strong> S&P <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/e0c5ce86-71e4-4b7e-a3e9-c7aa40b1221f\">remains<\/a> uncertain if Egypt's LNG production will remain high during this summer. There\u2019s optimism that exports will be sustained if Egypt\u2019s spot LNG prices remain above breakeven costs of around USD 5.00-5.50 \/ mmbtu. \u201cShould spot LNG prices sink below the breakeven price [like last summer] Egypt may again be minded to temporarily curtail supplies,\u201d S&P writes.<\/p>\n<p><strong>Background:<\/strong> The Damietta LNG facility \u2014 a pivotal component of our regional natural gas hub ambitions \u2014 restarted production <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/3613f080-5d75-4b85-af31-1b66fcda3204\">last month<\/a>, following an <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/784d29e8-b9ab-4b16-bdc4-20b5d110a590\">agreement<\/a> between the government, state-owned EGAS, plant operator Spanish Egyptian Gas Company (Segas), and Union Fenosa Gas (UGS), the JV between Naturgy and Eni to settle an eight-year ownership dispute. The reopening of the plant removes a major roadblock to Egypt\u2019s plans to export LNG to Europe, and will allow us to maximize the potential of Israeli natural gas imports. Egypt and Israel have agreed to build to connect Israel\u2019s offshore Leviathan gas field to the Damietta and Idku liquefaction plants, Israel's Energy Minister Yuval Steinitz previously said. Leviathan\u2019s offshore gas field came <a href=\"https:\/\/enterprise.press\/stories\/2019\/12\/29\/israels-leviathan-gas-field-said-to-begin-production-on-tuesday-9215\/\">online in 2019<\/a> and supplies <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/350a3d35-560a-41d3-bf07-b3fe0449a7d8\">Egypt and Jordan<\/a>.<\/p>\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/asia\/\">Asia<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/damietta-lng-plant\/\">Damietta LNG plant<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/egas\/\">EGAS<\/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\/europe\/\">Europe<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/israel\/\">Israel<\/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\/trade\/\">trade<\/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=\"561043\" 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=\"561043\">\r\n            \r\n                <div class=\"issue-story-header text-center\">\r\n                    <div class=\"index-number\">6<\/div>\r\n\r\n                    <p class=\"f-graphik\">Energy<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2021\/03\/23\/shell-inks-two-offshore-agreements-with-egypt-shifting-focus-to-marine-production\/\">\r\n                            Shell inks two offshore agreements with Egypt, shifting focus to marine production                        <\/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\/03\/23\/shell-inks-two-offshore-agreements-with-egypt-shifting-focus-to-marine-production\/\" 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\/03\/23\/shell-inks-two-offshore-agreements-with-egypt-shifting-focus-to-marine-production\/')\">\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\/03\/23\/shell-inks-two-offshore-agreements-with-egypt-shifting-focus-to-marine-production\/\">\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=Shell inks two offshore agreements with Egypt, shifting focus to marine production&url=https:\/\/enterpriseam.com\/egypt\/2021\/03\/23\/shell-inks-two-offshore-agreements-with-egypt-shifting-focus-to-marine-production\/\">\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\/03\/23\/shell-inks-two-offshore-agreements-with-egypt-shifting-focus-to-marine-production\/&title=Shell inks two offshore agreements with Egypt, shifting focus to marine production\">\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=Shell+inks+two+offshore+agreements+with+Egypt%2C+shifting+focus+to+marine+production+https%3A%2F%2Fenterpriseam.com%2Fegypt%2F2021%2F03%2F23%2Fshell-inks-two-offshore-agreements-with-egypt-shifting-focus-to-marine-production%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\/03\/23\/shell-inks-two-offshore-agreements-with-egypt-shifting-focus-to-marine-production\/\">\r\n                    <div class=\"photo photo--above\">\r\n                        <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2021\/3\/286.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"561044\" data-permalink=\"https:\/\/enterpriseam.com\/egypt\/2021\/03\/23\/shell-inks-two-offshore-agreements-with-egypt-shifting-focus-to-marine-production\/286-jpg-10\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2021\/3\/286.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"286.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2021\/3\/286.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2021\/3\/286.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-561043\" class=\"content-area-description single-story post-561043 post type-post status-publish format-standard has-post-thumbnail hentry category-energy tag-energy tag-enterpriseam tag-oil-and-gas tag-royal-dutch-shell 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>Shell has signed two new oil and gas exploration agreements with the Oil Ministry<\/strong> in the Herodotus Basin deepwater sector off Egypt\u2019s western Mediterranean coastline, the Dutch company\u2019s Egypt office said in <a href=\"https:\/\/ent.news\/2021\/3\/Shell-PR-22-03-21.pdf\">a press release (pdf)<\/a>. Shell acquired 67% of the 6.8k sqm North Marina and North Cleopatra concessions through its subsidiary BG Delta Limited, which will be in charge of operations. The remaining stake was awarded to Chevron, which acquired 27% through subsidiary Noble Energy Egypt and state-owned Tharwa Petroleum Company, which snapped up 10%.<\/p>\n<p><strong>Drilling in the concession areas will commence within three years<\/strong> of the agreements being ratified by the House of Representatives, and will continue for three years, the statement said. The companies will run seismic scans in early stages, it added.<\/p>\n<p><strong>Is Shell hoping to strike a new Zohr? <\/strong>Shell reached an agreement <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/31bffded-092f-4f4c-9755-e585392cd8f6\">earlier this month<\/a> with Egypt\u2019s <a href=\"https:\/\/picocheiron.com\/\">Cheiron Petroleum Corporation<\/a> and UK-listed <a href=\"https:\/\/www.cairnenergy.com\/\">Cairn Energy<\/a> to sell its onshore assets in the Western Desert as it shifts its investment focus in Egypt toward marine and deepwater production. Yesterday\u2019s agreements complement the new strategy, the company said in its press release, adding that western Mediterranean exploration blocks hold great promise for natural gas discoveries. Shell is planning on upping its exploration activities in Egypt, \u201cto contribute to Egypt\u2019s transformation into a regional energy hub,\u201d Chairman Khaled Kassem said.<\/p>\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/energy\/\">energy<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/oil-and-gas\/\">oil and gas<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/royal-dutch-shell\/\">Royal Dutch Shell<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                    <\/div>\n    <\/div>\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"561045\" class=\"issue-section \">\n<div class=\"issue-section__content\">\n<div class=\"stories\">            <!-- Show divider before story section -->\r\n        <div \r\n            class=\"\r\n                            \"\r\n            id=\"561045\">\r\n            \r\n            <div class=\"story__body\">\r\n\r\n                <a href=\"https:\/\/enterpriseam.com\/egypt\/2021\/03\/23\/561045\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-561045\" class=\"content-area-description single-story post-561045 post type-post status-publish format-standard hentry category-uncategorized wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<p class='web-image'><a href='https:\/\/www.sodic.com\/'><img decoding=\"async\" data-recalc-dims=\"1\" src=\"https:\/\/i0.wp.com\/ent.news\/2021\/1\/Sodic-Karmell2-1600px.jpg?ssl=1\" alt='enterprise'><\/a><\/p>\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"561046\" 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=\"561046\">\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\">SMEs<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2021\/03\/23\/egypts-small-businesses-think-a-recovery-is-in-the-cards-this-year\/\">\r\n                            Egypt\u2019s small businesses think a recovery is in the cards this year                        <\/a>\r\n                    <\/h3>\r\n\r\n                    \r\n\t\t\t\t\t\n<div class=\"cta\">\n    <div class=\"cta__btn share-dropdown-cta dropdown-toggle-btn\" style=\"position:relative\">\n        <img decoding=\"async\" src=\"https:\/\/ent.news\/internal\/408834.svg\" alt=\"\">\n        Share Story\n        <!-- Dropdown Menu -->\n        <ul class=\"share-menu\">\n            <li class=\"list-inline-item\">\n                <a href=\"https:\/\/enterpriseam.com\/egypt\/2021\/03\/23\/egypts-small-businesses-think-a-recovery-is-in-the-cards-this-year\/\" target=\"_blank\">\n                    Open in new tab                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/new-tab.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a href=\"#\" target=\"_blank\" onclick=\"event.preventDefault(); navigator.clipboard.writeText('https:\/\/enterpriseam.com\/egypt\/2021\/03\/23\/egypts-small-businesses-think-a-recovery-is-in-the-cards-this-year\/')\">\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\/03\/23\/egypts-small-businesses-think-a-recovery-is-in-the-cards-this-year\/\">\n                    Facebook                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/facebook-icon2.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a target=\"_blank\" href=\"https:\/\/x.com\/intent\/post?text=Egypt\u2019s small businesses think a recovery is in the cards this year&url=https:\/\/enterpriseam.com\/egypt\/2021\/03\/23\/egypts-small-businesses-think-a-recovery-is-in-the-cards-this-year\/\">\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\/03\/23\/egypts-small-businesses-think-a-recovery-is-in-the-cards-this-year\/&title=Egypt\u2019s small businesses think a recovery is in the cards this year\">\n                    LinkedIn                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/linkedin-icon.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a href=\"https:\/\/api.whatsapp.com\/send?text=Egypt%E2%80%99s+small+businesses+think+a+recovery+is+in+the+cards+this+year+https%3A%2F%2Fenterpriseam.com%2Fegypt%2F2021%2F03%2F23%2Fegypts-small-businesses-think-a-recovery-is-in-the-cards-this-year%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\/03\/23\/egypts-small-businesses-think-a-recovery-is-in-the-cards-this-year\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-561046\" class=\"content-area-description single-story post-561046 post type-post status-publish format-standard hentry category-smes tag-e-commerce tag-enterpriseam tag-fintech tag-smes tag-visa 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>Small businesses in Egypt are increasingly optimistic about where the economy is going<\/strong>, with 75% of respondents surveyed in Visa\u2019s 2021 Small Business Recovery <a href=\"https:\/\/ent.news\/2021\/3\/220321_Visa-Small-Business-Recovery-Study_Press-Release_Egypt-English.pdf\">study (<\/a><a href=\"https:\/\/ent.news\/2021\/3\/220321_Visa-Small-Business-Recovery-Study_Press-Release_Egypt-English.pdf\">pdf<\/a><a href=\"https:\/\/ent.news\/2021\/3\/220321_Visa-Small-Business-Recovery-Study_Press-Release_Egypt-English.pdf\">)<\/a> saying they expect a recovery this year. A key driver: The adoption of digital payments solutions as the central bank and Finance Ministry push ahead with digitalization and financial inclusion drives. As you\u2019d expect with a survey created by a card and payment provider, the poll focuses heavily on e-payments.<\/p>\n<p><strong>A majority of respondents said online shipping is here to stay<\/strong>, with 88% saying they believed it would remain a preference among their clients beyond the pandemic. Half of Egyptian SMEs said their customers preferred digital payments during the pandemic, while 35% of merchants said they established an online presence for the first time after covid-19 increased demand for digital payments. This year is expected to see around <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/7d79f49a-c160-4a6b-a14b-51f6c172bd55\">40% of Egyptian consumers<\/a> shopping online more frequently.<\/p>\n<p><strong>More businesses are following suit:<\/strong> Some 24% of Egyptian merchants said they are planning to build an e-commerce platform, while 40% plan to offer contactless and digital prepayment options soon. Within the next two years, 44% of retailers who only accept banknotes intend to set up POS terminals and 29% will invest in new digital payment technologies.<\/p>\n<p><strong>But digital acceptance is still far from the norm among small business owners: <\/strong>Only 24% of those surveyed said they trusted card payments, with 18% saying they would be concerned about the timely fulfillment of refund requests by consumers.<\/p>\n<p><strong>Though as long as it\u2019s affordable, business owners are interested<\/strong>, with 23% of respondents saying they would be keen to implement low cost acceptance solutions.<\/p>\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/e-commerce\/\">e-commerce<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/fintech\/\">Fintech<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/smes\/\">SMEs<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/visa\/\">Visa<\/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=\"561047\" 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=\"561047\">\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\">Fintech<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2021\/03\/23\/thndr-led-alliance-of-fintech-teams-up-to-set-up-private-e-signature-service-provider\/\">\r\n                            Thndr-led alliance of fintech teams up to set up private e-signature service provider                        <\/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\/03\/23\/thndr-led-alliance-of-fintech-teams-up-to-set-up-private-e-signature-service-provider\/\" 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\/03\/23\/thndr-led-alliance-of-fintech-teams-up-to-set-up-private-e-signature-service-provider\/')\">\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\/03\/23\/thndr-led-alliance-of-fintech-teams-up-to-set-up-private-e-signature-service-provider\/\">\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=Thndr-led alliance of fintech teams up to set up private e-signature service provider&url=https:\/\/enterpriseam.com\/egypt\/2021\/03\/23\/thndr-led-alliance-of-fintech-teams-up-to-set-up-private-e-signature-service-provider\/\">\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\/03\/23\/thndr-led-alliance-of-fintech-teams-up-to-set-up-private-e-signature-service-provider\/&title=Thndr-led alliance of fintech teams up to set up private e-signature service provider\">\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=Thndr-led+alliance+of+fintech+teams+up+to+set+up+private+e-signature+service+provider+https%3A%2F%2Fenterpriseam.com%2Fegypt%2F2021%2F03%2F23%2Fthndr-led-alliance-of-fintech-teams-up-to-set-up-private-e-signature-service-provider%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\/03\/23\/thndr-led-alliance-of-fintech-teams-up-to-set-up-private-e-signature-service-provider\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-561047\" class=\"content-area-description single-story post-561047 post type-post status-publish format-standard hentry category-fintech tag-cybersecurity tag-enterpriseam tag-fintech tag-itida tag-thndr wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<p><strong>Thndr is leading a consortium of five fintech companies looking to set up an <\/strong><strong>independent e-signature service provider<\/strong>, the stock trading app said in <a href=\"https:\/\/ent.news\/2021\/3\/Press-Release-Thndr-E-sig-License.docx.pdf\">a press release (pdf)<\/a>. Dubbed Imda, the consortium includes fintech platforms Digital Finance (DFin) Holding and <a href=\"https:\/\/mdp-eg.com\/\">Masria Card<\/a>, facial recognition software developer <a href=\"https:\/\/digified.io\/\">Digified<\/a>, and <a href=\"https:\/\/ppib.net\/\">Public Partners Ins. Brokerage<\/a>.<\/p>\n<p><strong>What is an e-signature, you ask?<\/strong> Just like real signatures, but digital. E-signatures are enforceable digital signatures that use encryption to securely verify the identity of a signatory, and authenticate certificates.<\/p>\n<p><strong>An end to paperwork?<\/strong> Together, the companies aim to roll out a service that will allow users to \u201ccreate digitally verified identities\u201d through which they can imprint their court approved e-signatures on digital documents, contracts and agreements. The announcement comes less than a month after the ICT Ministry\u2019s executive arm <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/5a0b7073-b559-415e-9174-cc4a583db2ab\">ITIDA said<\/a> it will award up to three licenses to tech companies to provide e-signature and timestamp services, a step it says will help develop Egypt\u2019s digital economy.<\/p>\n<p>CORRECTED ON 24 March 2021<\/p>\n<p>A previous version of this story incorrectly stated that the Thndr consortium could become the first independent e-signature provider. Information security company <a href=\"https:\/\/www.egypttrust.com\/\">EgyptTrust<\/a>, which is minority-owned by Telecom Egypt, has held a license to provide the service since 2005.<\/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\/cybersecurity\/\">cybersecurity<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/fintech\/\">Fintech<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/itida\/\">ITIDA<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/thndr\/\">Thndr<\/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=\"561048\" 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=\"561048\">\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\">LEGISLATION WATCH<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2021\/03\/23\/senate-signs-off-on-vocational-schools-accreditation-authority\/\">\r\n                            Senate signs off on vocational schools accreditation authority                        <\/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\/03\/23\/senate-signs-off-on-vocational-schools-accreditation-authority\/\" 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\/03\/23\/senate-signs-off-on-vocational-schools-accreditation-authority\/')\">\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\/03\/23\/senate-signs-off-on-vocational-schools-accreditation-authority\/\">\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=Senate signs off on vocational schools accreditation authority&url=https:\/\/enterpriseam.com\/egypt\/2021\/03\/23\/senate-signs-off-on-vocational-schools-accreditation-authority\/\">\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\/03\/23\/senate-signs-off-on-vocational-schools-accreditation-authority\/&title=Senate signs off on vocational schools accreditation authority\">\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=Senate+signs+off+on+vocational+schools+accreditation+authority+https%3A%2F%2Fenterpriseam.com%2Fegypt%2F2021%2F03%2F23%2Fsenate-signs-off-on-vocational-schools-accreditation-authority%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\/03\/23\/senate-signs-off-on-vocational-schools-accreditation-authority\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-561048\" class=\"content-area-description single-story post-561048 post type-post status-publish format-standard hentry category-legislation-watch tag-enterpriseam tag-legislation tag-legislation-watch tag-senate tag-vocational-education wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<p><strong>The Senate has approved <\/strong><strong><a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/cabee5c5-52b0-4325-b60d-d0295d8e5832\">a bill setting up a new authority<\/a><\/strong><strong> to accredit institutions <\/strong><strong>offering technical learning<\/strong> and training programs, <a href=\"https:\/\/bit.ly\/3cQyGje\">Al Shorouk<\/a> reports. The bill, which will now be passed back to the House for a final vote, would set up a national body responsible for accrediting vocational schools. Institutions will have five years to meet new quality standards and obtain accreditation once it is up and running.<\/p>\n<p><strong>Go deeper:<\/strong> We ran an in-depth piece asking private sector vocational school operators whether the new bill could help promote an effective vocational schools system in Egypt in a recent issue of <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/3078c7e6-eeae-48d6-acf3-163b6131cffa\">Blackboard<\/a>.<\/p>\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/legislation\/\">legislation<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/legislation-watch\/\">Legislation Watch<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/senate\/\">Senate<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/vocational-education\/\">Vocational education<\/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=\"561049\" 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 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33.941 0L285.475 239.03c9.373 9.372 9.373 24.568.001 33.941z\"><\/path><\/svg><\/button><\/div><\/div><div class=\"stk-block-carousel__dots\" role=\"list\" data-label=\"Slide %%d\"><\/div><\/div><\/div>\r\n        <\/div>\r\n<\/section> \r\n\r\n\n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"561050\" 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=\"561050\">\r\n            \r\n                <div class=\"issue-story-header text-center\">\r\n                    <div class=\"index-number\">10<\/div>\r\n\r\n                    <p class=\"f-graphik\">Enterprise+: Last Night\u2019s Talk Shows<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2021\/03\/23\/last-nights-talk-shows-on-23-march-2021\/\">\r\n                            Last Night\u2019s Talk Shows on 23 March 2021                        <\/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\/03\/23\/last-nights-talk-shows-on-23-march-2021\/\" 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\/03\/23\/last-nights-talk-shows-on-23-march-2021\/')\">\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\/03\/23\/last-nights-talk-shows-on-23-march-2021\/\">\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 23 March 2021&url=https:\/\/enterpriseam.com\/egypt\/2021\/03\/23\/last-nights-talk-shows-on-23-march-2021\/\">\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\/03\/23\/last-nights-talk-shows-on-23-march-2021\/&title=Last Night\u2019s Talk Shows on 23 March 2021\">\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+23+March+2021+https%3A%2F%2Fenterpriseam.com%2Fegypt%2F2021%2F03%2F23%2Flast-nights-talk-shows-on-23-march-2021%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\/03\/23\/last-nights-talk-shows-on-23-march-2021\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-561050\" class=\"content-area-description single-story post-561050 post type-post status-publish format-standard hentry category-enterprise-last-nights-talk-shows tag-eastern-company tag-enterpriseam tag-infrastructure-watch tag-kamel-el-wazir tag-last-nights-talk-shows tag-tax-authority tag-transport wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<p><strong>It was a mixed bag of nuts on the airwaves last night<\/strong>, as the talking heads mostly turned their attention to Health Minister Hala Zayed\u2019s press conference on Egypt\u2019s planned manufacturing of the Sinovac vaccine (which we recap in full in the news well, above).<\/p>\n<p><strong>How do you define a monopoly?<\/strong> Eastern Company being the only manufacturer of tobacco products in Egypt doesn\u2019t make it a monopoly, Eastern\u2019s CEO Hany Aman told Kelma Akhira\u2019s Lamees El Hadidi. Aman recapped the broad strokes of <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/f636aa38-0a36-410d-b9b2-ff9fad1ae5ee\">the tender<\/a> that would grant one license to establish Egypt\u2019s second major tobacco company and confirmed that Eastern is looking to begin producing e-cigarettes (<a href=\"https:\/\/www.youtube.com\/watch?v=eOmjDFRom4o\">watch, runtime: 5:55<\/a>)<\/p>\n<p><strong>Your regular reminder to file your taxes:<\/strong> The Tax Authority has no plans to extend the 31 March deadline for income tax filing, considering the authority has already pushed the deadline twice, head of the authority\u2019s central administration El Sayed Sakr told Ala Mas\u2019ouleety\u2019s Ahmed Moussa. Filings are now electronic, Sakr reminded Moussa (<a href=\"https:\/\/www.youtube.com\/watch?v=7q_9j6m8rvM\">watch, runtime: 4:48<\/a>).<\/p>\n<p><strong>Also on the airwaves last night:<\/strong><\/p>\n<ul>\n<li><strong>Construction on phase 1 of the high-speed electric rail line<\/strong> linking Ain Sokhna and New Alamein is scheduled to wrap in 2023, Transport Minister Kamel El Wazir said. (Ahmed Moussa on Ala Mas\u2019ouleety | <a href=\"https:\/\/www.youtube.com\/watch?v=1XEyO4mduYE\">watch, runtime 71:42<\/a>)<\/li>\n<li><strong>Egypt is still committed to the declaration of principles on GERD<\/strong>, Irrigation Ministry spokesperson Mohamed Ghanem said. (Khairy Ramadan and Karima Awad on Hadith Al Kahera | <a href=\"https:\/\/www.youtube.com\/watch?v=P7muFi5qhXE\">watch, runtime: 4:53<\/a>)<\/li>\n<\/ul>\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/eastern-company\/\">Eastern Company<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/infrastructure-watch\/\">infrastructure watch<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/kamel-el-wazir\/\">Kamel El Wazir<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/last-nights-talk-shows\/\">LAST NIGHT\u2019S TALK SHOWS<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/tax-authority\/\">Tax Authority<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/transport\/\">transport<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                    <\/div>\n    <\/div>\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"561051\" class=\"issue-section \">\n<div class=\"issue-section__content\">\n<div class=\"stories\">    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"561052\" 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=\"561052\">\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\">EGYPT IN THE NEWS<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2021\/03\/23\/egypt-in-the-news-on-23-march-2021\/\">\r\n                            Egypt in the News on 23 March 2021                        <\/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\/03\/23\/egypt-in-the-news-on-23-march-2021\/\" 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\/03\/23\/egypt-in-the-news-on-23-march-2021\/')\">\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\/03\/23\/egypt-in-the-news-on-23-march-2021\/\">\n                    Facebook                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/facebook-icon2.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a target=\"_blank\" href=\"https:\/\/x.com\/intent\/post?text=Egypt in the News on 23 March 2021&url=https:\/\/enterpriseam.com\/egypt\/2021\/03\/23\/egypt-in-the-news-on-23-march-2021\/\">\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\/03\/23\/egypt-in-the-news-on-23-march-2021\/&title=Egypt in the News on 23 March 2021\">\n                    LinkedIn                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/linkedin-icon.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a href=\"https:\/\/api.whatsapp.com\/send?text=Egypt+in+the+News+on+23+March+2021+https%3A%2F%2Fenterpriseam.com%2Fegypt%2F2021%2F03%2F23%2Fegypt-in-the-news-on-23-march-2021%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\/03\/23\/egypt-in-the-news-on-23-march-2021\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-561052\" class=\"content-area-description single-story post-561052 post type-post status-publish format-standard hentry category-egypt-in-the-news tag-ancient-egypt tag-enterpriseam tag-feminism tag-history tag-nawal-el-saadawi wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<p><strong>It\u2019s a relatively quiet morning for Egypt in the foreign press.<\/strong> Feminists around the world are honoring the late Nawal El Saadawi, who passed away on Sunday at the age of 90, <a href=\"https:\/\/www.reuters.com\/article\/idUSKBN2BE2Q0\">Reuters<\/a> notes. Meanwhile, this <a href=\"https:\/\/www.forbes.com\/sites\/davidbressan\/2021\/03\/21\/volcanic-eruptions-may-have-led-to-fall-of-ancient-egyptian-civilization\/?sh=6d65cd8928cc\">Forbes<\/a> contributor piece suggests ancient Egypt\u2019s defeat by the Romans was caused by volcanoes, with new evidence suggesting the ancient strategic city of Berenice on Egypt\u2019s Red Sea coast was abandoned a few decades after its foundation due to a drought triggered by a volcanic eruption.<\/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\/ancient-egypt\/\">Ancient Egypt<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/feminism\/\">feminism<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/history\/\">History<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/nawal-el-saadawi\/\">Nawal El Saadawi<\/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=\"561053\" 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=\"561053\">\r\n            \r\n                <div class=\"issue-story-header text-center\">\r\n                    <div class=\"index-number\">12<\/div>\r\n\r\n                    <p class=\"f-graphik\">Also on our Radar<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2021\/03\/23\/also-on-our-radar-on-23-march-2021\/\">\r\n                            Also on our Radar on 23 March 2021                        <\/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\/03\/23\/also-on-our-radar-on-23-march-2021\/\" 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\/03\/23\/also-on-our-radar-on-23-march-2021\/')\">\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\/03\/23\/also-on-our-radar-on-23-march-2021\/\">\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=Also on our Radar on 23 March 2021&url=https:\/\/enterpriseam.com\/egypt\/2021\/03\/23\/also-on-our-radar-on-23-march-2021\/\">\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\/03\/23\/also-on-our-radar-on-23-march-2021\/&title=Also on our Radar on 23 March 2021\">\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=Also+on+our+Radar+on+23+March+2021+https%3A%2F%2Fenterpriseam.com%2Fegypt%2F2021%2F03%2F23%2Falso-on-our-radar-on-23-march-2021%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\/03\/23\/also-on-our-radar-on-23-march-2021\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-561053\" class=\"content-area-description single-story post-561053 post type-post status-publish format-standard hentry category-also-on-our-radar tag-abu-dhabi-islamic-bank tag-also-on-our-radar tag-assiut-islamic-trading tag-debt tag-enterpriseam tag-gb-auto tag-oil-and-gas tag-zilla-capital wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<aside>\t\t\t<div\r\n\t\t\t\t\t\t\t\tclass=\"newspack-popup-container newspack-popup hidden  newspack-inline-popup  newspack-lightbox-no-border   \"\r\n\t\t\t\trole=\"button\"\r\n\t\t\t\ttabindex=\"0\"\r\n\t\t\t\tstyle=\"background-color:#FFFFFF;color:#000\"\r\n\t\t\t\tid=\"id_408146\"\r\n\t\t\t\tdata-segments=\"\"\r\n\t\t\t\tdata-frequency=\"0,0,0,month\"\r\n\t\t\t>\r\n\t\t\t\t\n<div class=\"wp-block-group has-light-gray-background-color has-background\" style=\"padding-top:0px;padding-right:0px;padding-bottom:0px;padding-left:0px\"><div class=\"wp-block-group__inner-container is-layout-constrained wp-container-core-group-is-layout-ef38739e wp-block-group-is-layout-constrained\">\n<div class=\"wp-block-group is-content-justification-center is-nowrap is-layout-flex wp-container-core-group-is-layout-94bc23d7 wp-block-group-is-layout-flex\"><div class=\"wp-block-image\">\n<figure class=\"aligncenter size-full\"><img decoding=\"async\" src=\"https:\/\/ent.news\/internal\/408144.svg\" alt=\"\" class=\"wp-image-408144\"\/><\/figure>\n<\/div><\/div>\n<\/div><\/div>\n\t\t\t<\/div>\r\n\t\t<\/aside>\n<p><strong>A handful of things we\u2019re keeping an eye on this morning:<\/strong><\/p><ul>\n<li>The UAE\u2019s <strong>Time Hotels<\/strong> will open this year its <a href=\"http:\/\/www.tradearabia.com\/news\/TTN_380241.html\">first<\/a><a href=\"http:\/\/www.tradearabia.com\/news\/TTN_380241.html\">two hotels<\/a> in Egypt, namely the 203-room resort in Nuweiba and a 130-room hotel and conference center near El Alamein.<\/li>\n<li><strong>HC Securities<\/strong> was <a href=\"https:\/\/ent.news\/2021\/3\/Almarai-Bakemart-Press-Release-bilingual-final.docx.pdf\">co-advisor (pdf)<\/a> to Saudi\u2019s <strong>Almarai<\/strong> on its acquisition of Bakemart UAE and Bahrain.<\/li>\n<li><strong>Zilla Capital<\/strong> has set a fair value for <strong>Assiut Islamic Trading\u2019s<\/strong> shares at EGP 22.35 apiece, valuing the company at EGP 149.4 mn, the listed company said in a <a href=\"https:\/\/ent.news\/2021\/3\/Assiut-Islamic-statement.pdf\">statement (pdf)<\/a>. Abu Dhabi Islamic Bank earlier this month approved a <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/6d462009-f7d7-4e88-be73-f1d0a42620ea\">mandatory tender offer<\/a> submitted by a group of shareholders for its 76% stake in the company at EGP 28.5 per share.<\/li>\n<li>Public transport company <strong>Mowasalat Misr<\/strong> is <a href=\"https:\/\/alborsaanews.com\/2021\/03\/22\/1427493\">planning to grow<\/a> its fleet of buses to 1k from 300 within the next two years.<\/li>\n<\/ul>\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/abu-dhabi-islamic-bank\/\">Abu Dhabi Islamic Bank<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\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\/assiut-islamic-trading\/\">Assiut Islamic Trading<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/debt\/\">debt<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/gb-auto\/\">GB Auto<\/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\/zilla-capital\/\">Zilla Capital<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                    <\/div>\n    <\/div>\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"561054\" 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=\"561054\">\r\n            \r\n                <div class=\"issue-story-header text-center\">\r\n                    <div class=\"index-number\">13<\/div>\r\n\r\n                    <p class=\"f-graphik\">PLANET FINANCE<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2021\/03\/23\/what-the-markets-are-doing-on-23-march-2021\/\">\r\n                            What the markets are doing on 23 March 2021                        <\/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\/03\/23\/what-the-markets-are-doing-on-23-march-2021\/\" 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\/03\/23\/what-the-markets-are-doing-on-23-march-2021\/')\">\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\/03\/23\/what-the-markets-are-doing-on-23-march-2021\/\">\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=What the markets are doing on 23 March 2021&url=https:\/\/enterpriseam.com\/egypt\/2021\/03\/23\/what-the-markets-are-doing-on-23-march-2021\/\">\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\/03\/23\/what-the-markets-are-doing-on-23-march-2021\/&title=What the markets are doing on 23 March 2021\">\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=What+the+markets+are+doing+on+23+March+2021+https%3A%2F%2Fenterpriseam.com%2Fegypt%2F2021%2F03%2F23%2Fwhat-the-markets-are-doing-on-23-march-2021%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\/03\/23\/what-the-markets-are-doing-on-23-march-2021\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-561054\" class=\"content-area-description single-story post-561054 post type-post status-publish format-standard hentry category-planet-finance tag-bowx-acquisition tag-brent-futures tag-brexit tag-deliveroo tag-enterpriseam tag-financial-markets tag-goldman-sachs tag-joe-biden tag-oil-and-gas tag-pandemic tag-planet-finance tag-spacs tag-stimulus-package tag-vaccines tag-wework 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-10\"><\/a> <strong>GLOBAL IPO WATCH- UK-based food delivery startup Deliveroo has kicked off its <\/strong><strong>GBP 1.8 bn IPO in London<\/strong>, according to <a href=\"https:\/\/www.bloomberg.com\/news\/articles\/2021-03-22\/deliveroo-kicks-off-2-5-billion-ipo-london-s-biggest-this-year?srnd=premium-middle-east&amp;sref=mmeFTDW1\">Bloomberg<\/a>. The UK-based company is now taking investor orders at GBP 3.9-4.6 apiece, which values the company at GBP 7.6-8.8 bn, and makes for the largest IPO in the UK since September. Shares will make their debut on the LSE on 31 March.<\/p><p><strong>A dash of hope for the City? <\/strong>The offering by Deliveroo \u2014 whose major shareholders include Amazon and VC firms DST Global and Index Ventures \u2014 comes as UK authorities are mulling proposals to reform listing rules to attract more high growth tech companies as London grapples with a potential loss of status as a major financial center post-Brexit.<\/p><p><strong>Oil suffered its deepest weekly loss since October last <\/strong><strong>week<\/strong>, with Brent futures losing 6.8% and US crude falling 6.4%, amid fears of a third wave of covid-19 in Europe, according to <a href=\"https:\/\/www.bloomberg.com\/news\/articles\/2021-03-21\/oil-edges-lower-at-the-open-after-ending-ugly-week-with-a-bounce?sref=mmeFTDW1\">Bloomberg<\/a>.<\/p><p><strong>Just a blip? <\/strong>The sell-off, which saw the number of futures contracts held by traders drop 7%, was only \u201ctransient,\u201d Goldman Sachs <a href=\"https:\/\/www.marketwatch.com\/story\/why-goldman-sachs-sees-a-buying-opportunity-in-oils-recent-selloff-11616177256\">analysts wrote in a note<\/a>, suggesting that the market rally will continue as the global vaccine rollout increases mobility.<\/p><p><strong>Record flows into US equities last week<\/strong> <strong>signal a psychological shift in favor of<\/strong> <strong>riskier assets<\/strong>, <a href=\"https:\/\/www.axios.com\/stock-market-investor-wall-street-risk-psychology-96fd82df-f25c-4b0a-a494-f3dc7e71561b.html\">Axios<\/a> writes. Investments into US equities reached a \u201cstaggering record\u201d of USD 68.3 bn last week \u2014 including USD 56.8 bn into equity funds \u2014 as money moved away from traditionally safe bonds and money market funds, which saw USD 9.9 bn in outflows over the same period.<\/p><p><strong>This marks what Axios calls a \u201csea change\u201d in investor psychology<\/strong>, which has traditionally seen money exit equity funds and enter fixed income and money market funds. \u201cInvestors have clearly embraced the concept of \u2018There Is No Alternative\u2019 as fund flows have nearly evaporated for government bonds \u2026 That flies in the face of recent history \u2014 2019 saw USD 199.7 bn of equity fund outflows and 2020 saw USD 394.6 bn of outflows,\u201d Axios says.<\/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>10,537<\/p>\n<\/td>\n<td>\n<p>-2.5% (YTD: -2.8%)<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-up\">\n<td class=\"td-list-up\">\n<p><svg class=\"e-icon e-TypeMarkets11\"><use xlink:href=\"#e-TypeMarkets11\"><\/use><\/svg><\/p>\n<\/td>\n<td>\n<p><strong>USD (CBE)<\/strong><\/p>\n<\/td>\n<td>\n<p>Buy 15.68<\/p>\n<\/td>\n<td>\n<p>Sell 15.78<\/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>USD at CIB<\/strong><\/p>\n<\/td>\n<td>\n<p>Buy 15.68<\/p>\n<\/td>\n<td>\n<p>Sell 15.78<\/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>9,547<\/p>\n<\/td>\n<td>\n<p>+0.5% (YTD: +9.9%)<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-up\">\n<td class=\"td-list-up\">\n<p><svg class=\"e-icon e-TypeMarkets11\"><use xlink:href=\"#e-TypeMarkets11\"><\/use><\/svg><\/p>\n<\/td>\n<td>\n<p><strong>ADX<\/strong><\/p>\n<\/td>\n<td>\n<p>5,733<\/p>\n<\/td>\n<td>\n<p>+0.2% (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>DFM<\/strong><\/p>\n<\/td>\n<td>\n<p>2,552<\/p>\n<\/td>\n<td>\n<p>-1.2% (YTD: +2.4%)<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-up\">\n<td class=\"td-list-up\">\n<p><svg class=\"e-icon e-TypeMarkets11\"><use xlink:href=\"#e-TypeMarkets11\"><\/use><\/svg><\/p>\n<\/td>\n<td>\n<p><strong>S&amp;P 500<\/strong><\/p>\n<\/td>\n<td>\n<p>3,941<\/p>\n<\/td>\n<td>\n<p>+0.7% (YTD: +4.9%)<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-up\">\n<td class=\"td-list-up\">\n<p><svg class=\"e-icon e-TypeMarkets11\"><use xlink:href=\"#e-TypeMarkets11\"><\/use><\/svg><\/p>\n<\/td>\n<td>\n<p><strong>FTSE 100<\/strong><\/p>\n<\/td>\n<td>\n<p>6,726<\/p>\n<\/td>\n<td>\n<p>+0.3% (YTD: +4.1%)<\/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 63.89<\/p>\n<\/td>\n<td>\n<p>-1.1%<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-down\">\n<td class=\"td-list-down\">\n<p><svg class=\"e-icon e-TypeMarkets1\"><use xlink:href=\"#e-TypeMarkets1\"><\/use><\/svg><\/p>\n<\/td>\n<td>\n<p><strong>Natural gas <\/strong>(Nymex)<\/p>\n<\/td>\n<td>\n<p>USD 2.57<\/p>\n<\/td>\n<td>\n<p>-0.5%<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-down\">\n<td class=\"td-list-down\">\n<p><svg class=\"e-icon e-TypeMarkets1\"><use xlink:href=\"#e-TypeMarkets1\"><\/use><\/svg><\/p>\n<\/td>\n<td>\n<p><strong>Gold<\/strong><\/p>\n<\/td>\n<td>\n<p>USD 1,734.70<\/p>\n<\/td>\n<td>\n<p>-0.3%<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-down\">\n<td class=\"td-list-down\">\n<p><svg class=\"e-icon e-TypeMarkets1\"><use xlink:href=\"#e-TypeMarkets1\"><\/use><\/svg><\/p>\n<\/td>\n<td>\n<p><strong>BTC<\/strong><\/p>\n<\/td>\n<td>\n<p>USD 55,020.06<\/p>\n<\/td>\n<td>\n<p>-2.8%<\/p>\n<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<\/div><p><strong>The EGX30 fell 2.5% yesterday<\/strong> on turnover of EGP 936 mn (36.4% below the 90-day average). Foreign investors were net sellers. <strong>The index is now down 2.8% YTD.<\/strong><\/p><p><strong>In the green:<\/strong> Edita (+1.5%), Ibnsina Pharma (+1.0%)<\/p><p><strong>In the red:<\/strong> AMOC (-7.3%), Qalaa Holdings (-5.9%) and Orascom Financial (-5.6%).<\/p><p><strong>Japan\u2019s Nikkei is the only Asian market in the green as we hit \u201csend\u201d on this morning\u2019s edition<\/strong>, with shares in Shanghai, Hong Kong and Seoul all in the red. Futures suggest US markets will open down this morning, as will shares in Toronto and much of Europe.<\/p>\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/bowx-acquisition\/\">BowX Acquisition<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/brent-futures\/\">Brent futures<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/brexit\/\">Brexit<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/deliveroo\/\">Deliveroo<\/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\/goldman-sachs\/\">Goldman Sachs<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/joe-biden\/\">Joe Biden<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/oil-and-gas\/\">oil and gas<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/pandemic\/\">pandemic<\/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\/spacs\/\">SPACs<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/stimulus-package\/\">stimulus package<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/vaccines\/\">vaccines<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/wework\/\">WeWork<\/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=\"561055\" 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=\"561055\">\r\n            \r\n                <div class=\"issue-story-header text-center\">\r\n                    <div class=\"index-number\">14<\/div>\r\n\r\n                    <p class=\"f-graphik\">AROUND THE WORLD<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2021\/03\/23\/around-the-world-on-23-march-2021\/\">\r\n                            Around the world on 23 March 2021                        <\/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\/03\/23\/around-the-world-on-23-march-2021\/\" 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 truce plan would take effect as soon as the Iran-backed Houthi rebels, who control strategic parts of Yemen, agree with it. One Houthi official dismissed the initiative as \"not serious or new\u201d in a <a href=\"https:\/\/twitter.com\/abdusalamsalah\/status\/1374009890855862272\">tweet<\/a> yesterday, <a href=\"https:\/\/twitter.com\/abdusalamsalah\/status\/1373919703320702976\">saying<\/a> the group would continue talks with Saudi Arabia, Oman and the US to reach peace.<\/p>\n<p><strong>The EU has agreed to sanction four Chinese officials for <\/strong><strong>human rights abuses committed against Uighur Muslims<\/strong>, <a href=\"https:\/\/www.reuters.com\/article\/us-eu-china-sanctions\/eu-agrees-china-sanctions-over-xinjiang-abuses-first-in-three-decades-idUSKBN2BE1AI\">Reuters<\/a> reports. The measures, which include asset freezes and travel bans, received an immediate response from Beijing, which introduced similar sanctions on European lawmakers.<\/p>\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/around-the-world\/\">Around the World<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/china\/\">China<\/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\/saudi-arabia\/\">Saudi Arabia<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/yemen\/\">Yemen<\/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 vertical-section wide-section going-green wp-block-group issue-section\" id=\"561056\">\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\/27465.svg\" style=\"width:80%\" alt=\"\" >\r\n                                    <\/figure>\r\n                <p>\r\n                    Our weekly deep dive into the green economy and ESG issue in Egypt.                <\/p>\r\n                <figure class=\"wp-block-image size-full mt-0 mb-0 img-white-bg\"><img data-recalc-dims=\"1\" decoding=\"async\" src=\"https:\/\/i0.wp.com\/s3.amazonaws.com\/resources.inktankir.com\/internal\/27483.png?ssl=1\" alt=\"\"><\/figure>\r\n                <p class=\"has-text-color has-link-color\">\r\n                    Published every Tuesday 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\/goinggreen\/\">\r\n                            Read going Green                        <\/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\">14<\/div>\r\n\r\n                        \r\n                        <h3 class=\"story-title\"><a href=\"https:\/\/enterpriseam.com\/egypt\/goinggreens\/what-are-egypts-green-startups-up-to\/\">\r\n                            What are Egypt\u2019s green startups up to?<\/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\/goinggreens\/what-are-egypts-green-startups-up-to\/\" 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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These operate in the waste and water management, solar energy, agritech and \u2014 believe it or not \u2014 e-commerce sectors.<\/p>\n<p><strong>This week, we will focus on waste management startup <\/strong><strong><a href=\"https:\/\/www.tagaddod.com\/\">Tagaddod<\/a><\/strong><strong> and solar heater company <\/strong><strong>Shamsina<\/strong><strong>. <\/strong>We picked those two to start with as they appear to provide simple easy solutions to environmental problems that can be applied on a small scale to the average household.<\/p>\n<p><strong>First up is waste management startup Tagaddod, which collects and exports used cooking oil (UCO) for biofuel. <\/strong>This type of waste can be found in every household. However, there isn\u2019t enough UCO to cater to the high global demand, cofounder Tagaddod Nour El Assal says. This shortfall is not due to the lack of people\u2019s love for a juicy piece of fried chicken, but rather because of the lack of a sufficient mechanism to collect UCO from factories, retailers, and households. To solve that gap, Tagaddod built Green Pan, an app that allows households to schedule UCO pickups and another one for hotels, restaurants and cafes \u2014 or Horecas for short. The company then exports the UCO to refineries abroad, where it turns into biofuel and hydrogenated vegetable oil \u2014 basically the new version of biofuel, from which other types of fuel (jet fuel, diesel, gasoline etc.) can be extracted.<\/p>\n<p><strong>Over the years, UCO has become a global commodity: <\/strong>Today, there are actually futures contracts for UCO. Just a few months ago, in November 2020, <a href=\"https:\/\/oilprice.com\/Energy\/Energy-General\/Why-Refineries-Are-Fighting-Over-Used-Cooking-Oil.html\">OilPrice reported<\/a> \u201csuch a rush on used cooking oils and animal fats that some renewable refineries have reported having trouble procuring these once worthless feedstocks.\u201d Oil and non-oil waste in MENA per household amounts to around USD 144 \/ year, which translates into over USD 21 bn annually, El Assal tells us. Egypt\u2019s current used cooking oil market size stands at USD 14 mn, which is only 4% of the potential production of USD 352 mn, according to El Assal. The global used cooking oil market size is expected to reach USD 8.48 bn in 2027, <a href=\"https:\/\/www.fortunebusinessinsights.com\/used-cooking-oil-market-103665\">according to Fortune Business Intelligence<\/a>. The growth is expected to be driven by global government directives towards a more environmentally-friendly future and the increasing demand for UCO, it adds.<\/p>\n<p><strong>Households and restaurants have certain perks in mind when using Tagaddod. <\/strong>One of the perks of using Tagaddod as a multi-branch restaurant, for instance, is that it helps track each food outlet\u2019s consumption of oil, providing inventory and operational data that is otherwise hard to come by. As a household, every liter of UCO handed to Tagaddod translates into incentives and small gifts.<\/p>\n<p><strong>Today, Tagaddod collects UCO from 2k businesses and 40k households, saving approximately 2k tons of emissions a month. <\/strong>The company is targeting reaching a roster of 1 mn households in 2024 and expanding into Africa in the near future.<\/p>\n<p><strong>Starting April 2020 (read: covid), the startup\u2019s m-o-m oil collection growth skyrocketed on the B2C end, but dropped in B2B.<\/strong> On one end, household and retail factories\u2019 output of used oil grew between 30% and 40% m-o-m, but on the other, many B2B partners suffered. Fine dining \u2014 a major source of UCO \u2014 was heavily affected by social distancing measures that came to life thanks to covid, dropping by almost half. \u201cBetween 30-40% of our B2B customer base had to shut down,\u201d El Assal said, but September and October indicated a slight recovery as lockdown measures in Egypt were largely lifted and pandemic fatigue led many to return to normal life to some degree.<\/p>\n<p><strong>Where Tagaddod takes waste material out of homes, Shamsina wants to use renewables to bring a necessity to all households: Hot running water. <\/strong>Operating under the slogan \u201cSun for all,\u201d the startup designs, manufactures, and delivers affordable, locally-made solar water heaters for \u201call Egyptians,\u201d from energy-poor communities to energy-conscious consumers.<\/p>\n<p><strong>There is no current water heating option in Egypt that is attractive, as traditional options are plagued with health, safety and environmental concerns, <\/strong>Deena Moussa, founder of Shamsina, says. \u201c50% of the population does not have access to a modern water heater; these households use kerosene lamps, gas tanks or makeshift fires instead,\u201d Moussa explains. These options come with health and safety concerns, emitting environmentally harmful pollutants, and causing burns, dangerous levels of smoke inhalation, and pollution. Even households that use electric water heaters have seen their electricity bills go up since 2016, due to the EGP\u2019s floatation and subsidy cuts. Moreover, electricity prices <a href=\"https:\/\/ent.news\/2020\/6\/%D8%A7%D9%84%D9%85%D8%A4%D8%AA%D9%85%D8%B1-%D8%A7%D9%84%D8%B5%D8%AD%D9%81%D9%89-%D9%84%D8%A3%D8%B3%D8%B9%D8%A7%D8%B1-%D8%A7%D9%84%D9%83%D9%87%D8%B1%D8%A8%D8%A7%D8%A1-%D9%84%D9%84%D8%AE%D9%85%D8%B3-%D8%B3%D9%86%D9%88%D8%A7%D8%AA-%D8%A7%D9%84%D9%82%D8%A7%D8%AF%D9%85%D8%A9-9-6-2020-1.pdf\">are expected to almost double<\/a> over the coming four fiscal years as the government moves towards a complete elimination of subsidies.<\/p>\n<p><strong>But solar panels come with their own concern: A high initial cost, which Shamsina looks to navigate through a cross-subsidy model. <\/strong>Cross subsidy implies that certain customer segments are charged more for the product, in order to be able to provide lower-income customers with subsidized prices for the same acquisition. Solar water heaters are available abroad, but are too expensive when imported for lower-income households. \u201cOur local production process helps revive industry and strengthens local know-how,\u201d Moussa tells us. \u201cThrough a cross-subsidy model, Shamsina makes reliable solar water heaters widely accessible, reaching every corner of the country and especially those who struggle most.\u201d At the high-end, heaters are sold for about USD 500, making it possible to sell them for about USD 100 at the low-end of the market.<\/p>\n<p><strong>So far, the company installed 25 solar heaters as prototypes and is planning to launch at the end of this year. <\/strong>Operating out of a workshop in Darb Al Ahmar \u2014 the district that inspired the initiative \u2014 <a href=\"https:\/\/www.afrik21.africa\/en\/egypt-start-up-shamsina-develops-its-third-version-of-solar-water-heaters\/\">it has received funding<\/a> from <a href=\"https:\/\/www.davisprojectsforpeace.org\/\">Davis Projects for Peace<\/a> in the US and the American non-profit organization <a href=\"https:\/\/www.synergos.org\/\">Synergos<\/a>. Currently, it is looking to raise a seed-fund round of USD 50k.<\/p>\n<p><strong>Your top climate stories for the week:<\/strong><\/p>\n<ul>\n<li><strong>EGP 14 bn worth of solar-powered irrigation systems for Egyptian farmers<\/strong> will be <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/427792ac-8f99-4ad9-bf86-56c75afcef9c\">financed by on-lending<\/a> through the International Finance Corporation and Alexbank.<\/li>\n<li><strong>Almost 59k people have <\/strong><strong><a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/2c699b84-4df1-4b64-a992-df3f29ee8dc9\">applied to swap<\/a><\/strong><strong> their cars for new natgas models <\/strong>through the Finance Ministry\u2019s <a href=\"https:\/\/www.gogreenmasr.com\/\">website<\/a> since the first phase of the government\u2019s plan to convert or replace 1.8 mn cars went live earlier this year.<\/li>\n<li><strong>Car owners now only need to have owned their vehicles <\/strong><strong><a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/1c343896-2acc-4d73-b996-567e5f29dd54\">for two years<\/a><\/strong><strong> to qualify for a replacement <\/strong>under the state\u2019s natural gas transition plan, down from a minimum three years previously.<\/li>\n<\/ul>\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/environment\/\">environment<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/renewables\/\">renewables<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/shamsina\/\">Shamsina<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/uco\/\">UCO<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                    <\/div>\n    <\/div>\n\r\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=\"561058\" 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\/03\/23\/your-essential-business-calendar-on-23-march-2021\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-561058\" class=\"content-area-description single-story post-561058 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>March: Potential visit to Cairo by Russian President Vladimir Putin.<\/p>\n<p>23 March (Tuesday): The second edition of the <a href=\"https:\/\/tinyurl.com\/vf98kbgf\">Egypt Retail Summit<\/a> takes place at the Nile Ritz Carlton hotel.<\/p>\n<p>23 March (Tuesday): The British-Egyptian Business Association (BEBA) virtual conference on sustainable manufacturing in Africa.<\/p>\n<p>23 March (Tuesday): AUC Women on Boards Observatory event to launch 2020 annual monitoring report.<\/p>\n<p>25-27 March (Thursday-Saturday): <a href=\"https:\/\/www.therealgate.com\/visit\/register-your-interest-to-visit\/\">The Real Gate real estate exhibition<\/a>, Egyptian International Exhibition Center, Cairo.<\/p>\n<p>29-30 March (Monday-Tuesday): <a href=\"https:\/\/arab-exchanges.org\/conference\/\">Arab Federation of Exchanges Annual Conference<\/a> 2021.<\/p>\n<p>29-30 March (Monday-Tuesday): Arab Academy for Science, Technology & Maritime Transport <a href=\"https:\/\/ec.aast.edu\/contenttemp.php?page_id=48200111\">Startup Festival<\/a>, Sharm El Sheikh.<\/p>\n<p>31 March (Wednesday): Deadline to visit the moroor and get an RFID sticker affixed to your car\u2019s windshield \u2014 or run afoul of the Traffic Police.<\/p>\n<p>31 March (Wednesday): Income tax deadline for individuals. Real estate tax deadline.<\/p>\n<p>1-3 April (Thursday-Saturday): <a href=\"http:\/\/hvacregypt.com\/\">HVAC-R Egypt Expo<\/a>.<\/p>\n<p>6 April (Tuesday): French Chamber of Commerce and Industry in Egypt working breakfast with Sovereign Fund of Egypt CEO Ayman Soliman.<\/p>\n<p>7 April (Wednesday): British-Egyptian Business Association (BEBA) webinar on digital banking and fintech.<\/p>\n<p>8-10 April (Thursday-Saturday): The TriFactory\u2019s Endurance Festival at Somabay.<\/p>\n<p>13 April (Monday): First day of Ramadan (TBC).<\/p>\n<p>25 April (Sunday): Sinai Liberation Day.<\/p>\n<p>29 April (Thursday): National holiday in observance of Sinai Liberation Day (TBC),<\/p>\n<p>29 April (Thursday): The CBE\u2019s Monetary Policy Committee will meet to review interest rates.<\/p>\n<p>1 May (Saturday): Labor Day (national holiday).<\/p>\n<p>2 May (Sunday): Easter Sunday.<\/p>\n<p>3 May (Monday): Sham El Nessim.<\/p>\n<p>13-15 May (Thursday-Saturday): Eid El Fitr (TBC).<\/p>\n<p>25-28 May (Tuesday-Friday): The World Economic Forum annual meeting, Singapore.<\/p>\n<p>1 June (Tuesday): The IMF will conduct a second review of targets set under the USD 5.2 bn standby loan approved in June 2020 (proposed date).<\/p>\n<p>7-9 June (Monday-Wednesday): <a href=\"https:\/\/www.egyps.com\/\">Egypt Petroleum Show<\/a>, Egypt International Exhibition Center, New Cairo, Egypt.<\/p>\n<p>17 June (Thursday): The CBE\u2019s Monetary Policy Committee will meet to review interest rates.<\/p>\n<p>17-20 June (Thursday-Sunday) : The International Exhibition of Materials and Technologies for Finishing and Construction (<a href=\"https:\/\/turnkeyexhibition.com\/\">Turnkey Expo<\/a>), Cairo International Conference Center.<\/p>\n<p>24 June (Thursday): End of the 2020-2021 academic year (public schools).<\/p>\n<p>26-29 June (Saturday-Tuesday): <a href=\"https:\/\/www.thebig5constructegypt.com\/?utm_source=Adestra&utm_medium=email&CID=003D000002UIHn4IAH&utm_campaign=Egyp%5Bt%20postponement%20generic%20exp%20visp&utm_term&utm_content=7014G000001cG3zQAE&CNAME=Enterprise\">The Big 5 Construct Egypt<\/a>, Cairo International Convention Center, Cairo, Egypt.<\/p>\n<p>30 June (Wednesday): 30 June Revolution Day.<\/p>\n<p>30 June- 15 July: National Book Fair.<\/p>\n<p>1 July: (Thursday): National holiday in observance of 30 June Revolution.<\/p>\n<p>1 July (Thursday): Large taxpayers that have not yet signed on on to the e-invoicing platform <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/61c78b1b-ec60-46e8-9760-c995c81f34b9\">will suffer a host of penalties<\/a>, including removal from large taxpayer classification, losing access to government services and business, and losing subsidies.<\/p>\n<p>19 July (Monday): Arafat Day (national holiday).<\/p>\n<p>20-23 July (Tuesday-Friday): Eid Al Adha (national holiday)<\/p>\n<p>23 July (Friday): Revolution Day (national holiday).<\/p>\n<p>5 August (Thursday): The CBE\u2019s Monetary Policy Committee will meet to review interest rates.<\/p>\n<p>9 August (Monday): Islamic New Year.<\/p>\n<p>12 August (Thursday): National holiday in observance of the Islamic New Year.<\/p>\n<p>16 September (Thursday): The CBE\u2019s Monetary Policy Committee will meet to review interest rates.<\/p>\n<p>30 September-2 October (Thursday-Saturday): <a href=\"https:\/\/www.egypt-projects.com\/\">Egypt Projects 2021<\/a> expo, Egypt International Exhibition Center, Cairo, Egypt.<\/p>\n<p>1 October (Friday): <a href=\"https:\/\/www.expo2020dubai.com\">Expo 2020 Dubai<\/a> opens.<\/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>18 October (Monday): Prophet\u2019s Birthday.<\/p>\n<p>21 October (Thursday): National holiday in observance of the Prophet\u2019s Birthday.<\/p>\n<p>28 October (Thursday): The CBE\u2019s Monetary Policy Committee will meet to review interest rates.<\/p>\n<p>1-12 November (Monday-Friday): <a href=\"https:\/\/ukcop26.org\/\">2021 United Nations Climate Change Conference<\/a> (COP26), Glasgow, United Kingdom.<\/p>\n<p>13-17 December: <a href=\"http:\/\/english.ahram.org.eg\/NewsContent\/1\/64\/396604\/Egypt\/Politics-\/Egypt-to-host-UN-anticorruption-conference-in-.aspx\">United Nations Convention against Corruption<\/a>, Sharm El Sheikh, Egypt.<\/p>\n<p>16 December (Thursday): The CBE\u2019s Monetary Policy Committee will meet to review interest rates.<\/p>\n<p>27 June - 3 July 2022 (Monday-Sunday): <a href=\"https:\/\/www.insidethegames.biz\/articles\/1103867\/fisu-world-university-squash-new-giza\">World University Squash Championships<\/a>, New Giza.<\/p>\n<p><strong>Note to readers: <\/strong>Some national holidays may appear twice above. Since 2020, Egypt has observed most mid-week holidays on Thursdays regardless of the day on which they fall and may also move those days to Sundays. We distinguish below between the actual holiday and its observance.<\/p>\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n","protected":false},"excerpt":{"rendered":"","protected":false},"featured_media":561035,"menu_order":0,"template":"","categories":[],"tags":[],"class_list":["post-561034","issue","type-issue","status-publish","has-post-thumbnail","hentry","wpautop","entry"],"acf":{"mongo_id":"1fa1a2d3-daf6-44c3-bc50-3b7a29b43f3e","teaser":"","photo_url":"https:\/\/ent.news\/2021\/3\/280.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 IDH is one step closer to listing on the EGX - 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-idh-is-one-step-closer-to-listing-on-the-egx\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Enterprise IDH is one step closer to listing on the EGX\" \/>\n<meta property=\"og:url\" content=\"https:\/\/enterpriseam.com\/egypt\/issues\/enterprise-idh-is-one-step-closer-to-listing-on-the-egx\/\" \/>\n<meta property=\"og:site_name\" content=\"EnterpriseAM Egypt\" \/>\n<meta property=\"article:modified_time\" content=\"2025-12-16T03:08:46+00:00\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:image\" content=\"https:\/\/i0.wp.com\/ent.news\/2021\/3\/280.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-idh-is-one-step-closer-to-listing-on-the-egx\/\",\"url\":\"https:\/\/enterpriseam.com\/egypt\/issues\/enterprise-idh-is-one-step-closer-to-listing-on-the-egx\/\",\"name\":\"Enterprise IDH is one step closer to listing on the EGX - 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