{"id":562050,"date":"2021-05-05T03:44:47","date_gmt":"2021-05-05T03:44:47","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/?post_type=issue&#038;p=562050"},"modified":"2025-12-16T03:33:34","modified_gmt":"2025-12-16T03:33:34","slug":"is-egypt-going-to-build-two-massive-petrochem-complexes-in-ain-sokhna","status":"publish","type":"issue","link":"https:\/\/enterpriseam.com\/egypt\/issues\/is-egypt-going-to-build-two-massive-petrochem-complexes-in-ain-sokhna\/","title":{"rendered":"Is Egypt going to build two massive petrochem complexes in Ain Sokhna?"},"content":{"rendered":"<section id=\"562052\" 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=\"562052\">\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\/05\/05\/this-morning-a-big-day-for-diplomacy-on-gerd-and-turkey-yellens-interest-rate-comments-have-given-the-world-jitters\/\">\r\n                            THIS MORNING: A big day for diplomacy on GERD and Turkey + Yellen\u2019s interest rate comments have given the world jitters                        <\/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\/05\/05\/this-morning-a-big-day-for-diplomacy-on-gerd-and-turkey-yellens-interest-rate-comments-have-given-the-world-jitters\/\" 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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Look for foreign policy to dominate the news cycle today <\/strong>as the nation\u2019s diplomats push ahead with talks on GERD at the same time as they open two days of talks in Cairo designed to turn a new page with Turkey. We have more on both stories in this section, below.<\/p><p><strong>The big business story of the day <\/strong>is word that Carbon Holdings appears to face competition for both current investor \/ banker mindshare and future market share from a newly announced petchems megaproject in Ain Sokhna. We have this and more in the news well, below.<\/p><p><strong>THE BIG STORY ABROAD sees US Treasury Secretary Janet Yellen walking back her <\/strong><strong>suggestion yesterday that <\/strong><strong><a href=\"https:\/\/www.cnbc.com\/2021\/05\/04\/treasury-secretary-yellen-says-rates-may-have-to-rise-somewhat-to-keep-economy-from-overheating.html\">US rates \u201cwill have to rise somewhat\u201d<\/a><\/strong> to keep the economy over there from \u201coverheating.\u201d Yellen, a former US Federal Reserve chair, said later in the day that she is neither anticipating a spike in inflation from the Biden administration\u2019s plan to spend its way out of covid, nor a decision from the Fed to raise interest rates, according to <a href=\"https:\/\/www.bloomberg.com\/news\/articles\/2021-05-04\/yellen-says-spending-jump-could-mean-higher-interest-rates?srnd=premium-middle-east&amp;sref=mmeFTDW1\">Bloomberg<\/a>.<\/p><p><strong>Why this matters to us here in Egypt: <\/strong>Our central bank continues to walk a fine line on interest rates, a fact it underscored when it <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/6c5d1ef9-6305-4119-a57e-4a6f45c6f2d5\">left rates on hold last week<\/a>: There won\u2019t be much pickup on corporate borrowing for capex (read: money to grow our businesses) unless rates come down. But any rise in US rates will see the CBE under pressure to bump up domestic rates here to maintain the attractiveness of the Egypt <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/1eb6d15c-55a3-4fd5-a26e-b11c728512b4\">carry trade<\/a>. And in the absence of a recovery in tourism and foreign direct investment, that carry trade is a critical source of foreign exchange right now.<\/p><p><strong>SIGN OF THE TIMES #1 on this fine (hot) Wednesday morning: Dogecoin\u2019s market cap is <\/strong><strong><a href=\"https:\/\/twitter.com\/kevinroose\/status\/1389713225831239682\">bigger<\/a><\/strong><strong> than Ford or Twitter. <\/strong>Yeah, Dogecoin, <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/59e26a33-a030-4a51-8110-27a09e44290a\">the \u201cjoke\u201d cryptocurrency<\/a> that was worth about USD 6 bn back in mid-February is now worth nearly USD 70 bn. Ford was at about USD 45 bn yesterday, and Twitter at USD 43 bn.<\/p><p><strong>SIGN OF THE TIME #2: One of the world\u2019s last \u201copen outcry\u201d trading pits is closing <\/strong>as the Chicago Mercantile Exchange confirmed it is formally shutting down pits \u201cfor trading agricultural commodities, where traders haggle over options on soybeans, wheat, cattle and hogs,\u201d the <a href=\"https:\/\/www.wsj.com\/articles\/cme-group-to-close-most-of-its-trading-pits-in-chicago-permanently-11620175341\">Wall Street Journal<\/a> notes.<\/p><p><strong>*** CATCH UP QUICK<\/strong> with the top stories from yesterday\u2019s edition of EnterprisePM:<\/p><ul>\n<li><strong>Raya Holding will sell <\/strong><strong><a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/986aa556-52ba-44c4-9f39-6ea3ff80b860\">100% of its stake in recycling arm BariQ<\/a><\/strong><a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/986aa556-52ba-44c4-9f39-6ea3ff80b860\"><\/a>to Intro Group in a transaction valued at EGP 490 mn.<\/li>\n<li><strong>The Central Bank of Egypt will greenlight <\/strong><strong><a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/df20d722-96bc-49f0-83a4-99289f2a3574\">Bank ABC\u2019s acquisition<\/a><\/strong> to Blom Egypt in the coming weeks.<\/li>\n<li><strong>The government has so far delivered 340 <\/strong><strong><a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/195a8805-b463-4bcd-a6d7-4c02cf5b8562\">new natgas cars<\/a><\/strong> in April, the first month of deliveries under the natgas transition scheme.<\/li>\n<\/ul><p><strong>How hot is it going to be today?<\/strong> Expect the mercury to hit 41\u00b0C this afternoon.<\/p><p><strong>** So, when do we eat?<\/strong> We sit down for iftar at 6:35pm this evening, and will have until 3:31am to wrap up our sohour.<\/p><p><strong>WHAT\u2019S HAPPENING TODAY- <\/strong><\/p><p><a class=\"content-anchor\" id=\"tldr-story-07\"><\/a> <strong>It\u2019s going to be a busy day for diplomacy<\/strong> as diplomats look to make progress on at least three critical files:<\/p><p><strong>Foreign Minister Sameh Shoukry is scheduled to meet with US Special Envoy for the <\/strong><strong>Horn of Africa Jeffrey Feltman today<\/strong>, according to <a href=\"https:\/\/www.shorouknews.com\/news\/view.aspx?cdate=04052021&amp;id=341521e7-0bbd-412c-8ada-f650120a5f24\">Al Shorouk<\/a>. You can expect the Grand Ethiopian Renaissance Dam (GERD) impasse to be at the top of the agenda. Feltman will be in Egypt to kick off a 10-day tour of the region, which will also see him make stops in Ethiopia, Eritrea, and Sudan, the <a href=\"https:\/\/www.state.gov\/travel-of-special-envoy-for-the-horn-of-africa-to-egypt-eritrea-ethiopia-and-sudan\/\">State Department<\/a> said earlier this week. Feltman\u2019s tour comes as <strong>Egypt continues to lobby the US to facilitate talks on GERD<\/strong>, with our ambassador in Washington Moataz Zahran reiterating during a lecture at the US Army War College that Egypt, Sudan, and Ethiopia must reach a binding agreement, according to a Foreign Ministry <a href=\"https:\/\/www.facebook.com\/MFAEgypt\/posts\/5561354220603145\">statement<\/a>.<\/p><p><strong>Egypt and Turkey are opening two days of talks aimed at starting to patch up relations<\/strong>, with a Turkish delegation scheduled to have landed in Cairo overnight, according to Ala Mas\u2019ouleety\u2019s Ahmed Moussa (<a href=\"https:\/\/www.youtube.com\/watch?v=-5Ue1Sv_LDA\">watch, runtime: 2:56<\/a>). The delegation, led by Turkey\u2019s Deputy Foreign Minister Sedat Onal, will meet today and tomorrow with Egyptian diplomats to look into the \u201cnecessary steps\u201d to normalizing the two countries\u2019 diplomatic relationship, according to a <a href=\"https:\/\/www.facebook.com\/MFAEgypt\/posts\/5561405253931375\">Foreign Ministry statement<\/a>. Turkey\u2019s efforts to warm up to its peers in the region are also bearing fruit over in Saudi Arabia, whose King Salman discussed bilateral ties with Turkish President Recep Erdogan yesterday for the second time in a month, <a href=\"https:\/\/www.reuters.com\/world\/middle-east\/erdogan-saudi-king-salman-discuss-ties-turkish-presidency-2021-05-04\/\">Reuters<\/a> reports.<\/p><p><strong>Egyptian aviation officials should be in Libya soon to inspect Libyan airports <\/strong>as both countries get ready to resume direct flights between major cities, state-owned Afriqiyah Airways General Manager Khalil Al-Majai said in a statement carried by Libya\u2019s <a href=\"https:\/\/www.afrigatenews.net\/a\/289546\">Africa Gate News<\/a>. We can eventually expect as many as 35 weekly flights between Cairo and each of Tripoli's Mitiga International Airport, Misrata Airport, and Benghazi\u2019s Benina International Airport to resume operating, Majai said.<\/p><p><strong>Budget month is rolling along<\/strong>, with Planning Minister Hala El Said presenting yesterday the upcoming fiscal year\u2019s <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/6f10ef3d-eec0-4f11-a112-c1dee1ee9780\">budget projections<\/a> to the Senate Economic, Finance, and Investment Affairs Committee yesterday, according to a cabinet <a href=\"https:\/\/www.facebook.com\/EgyptianCabinet\/posts\/1921874014657621\">statement<\/a>. The minister also gave the committee an overview of Egypt\u2019s <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/880fe75b-3a07-477a-93c3-c87eaad7936f\">structural reform program<\/a>, which will focus on investing in job creating sectors, increasing private sector participation in the country\u2019s sustainable development strategy, and developing tech and manufacturing over the coming three years.<\/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>It\u2019s the start of a new month \u2014 and you know what means:<\/strong><\/p><ul>\n<li><strong>PMI:<\/strong> April\u2019s purchasing managers\u2019 index figures for Egypt will be out tomorrow.<\/li>\n<li><strong>Foreign reserves:<\/strong> Expect April\u2019s foreign reserves figures to land at the end of this week or the beginning of the next.<\/li>\n<li><strong>Inflation:<\/strong> April\u2019s inflation figures will be out next week.<\/li>\n<\/ul><p><strong>PSA- Egyptian and regional growth-stage tech startups can start applying for the <\/strong><strong>second version of \u201c<\/strong><strong>Google for Startups Accelerator<\/strong><strong>: Middle East and North Africa<\/strong>,\u201d Google wrote in <a href=\"https:\/\/arabia.googleblog.com\/2021\/05\/google.html\">a blog post<\/a> yesterday. Businesses have until 25 May to apply for the three-month digital accelerator program, which will start virtually in mid-July. Egypt-based pharma delivery platform <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/4c2a3fb5-43bb-48e3-8058-ee565c55a115\">Chefaa<\/a> was among the 10 MENA startups selected in February for the first round of the program.<\/p><p><strong>CIRCLE YOUR CALENDAR-<\/strong><\/p><p><strong>Eid El Fitr looks likely to begin next Thursday<\/strong>, 13 May and end on Saturday, 15 May. Watch this space to find out about our Eid vacation.<\/p><p><strong>The IMF will conduct on 1 June a second review of targets set under <\/strong><strong>Egypt\u2019s USD 5.2 bn standby loan.<\/strong> The loan was approved in <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/e4b88b68-45c9-4f66-bbba-1e8999ee8f3f\">June 2020<\/a>.<\/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\/2020\/1\/Web-view-01.jpg?ssl=1\" alt=\"enterprise\"><\/p><p><strong>*** It\u2019s Hardhat day \u2014 your weekly briefing of all things infrastructure in Egypt:<\/strong> Enterprise\u2019s industry vertical focuses each Wednesday on infrastructure, covering everything from energy, water, transportation, urban development and as well as social infrastructure such as health and education.<\/p><p><strong>In today\u2019s issue: <\/strong>We talk with Thomas Maudet, managing director of Jumia Services Egypt, about the infrastructure of e-commerce. Egypt\u2019s infrastructure fared well during the 2020 e-commerce boom, with neither traffic congestion nor IT instability impeding operations. <a href=\"https:\/\/group.jumia.com\/\">Jumia<\/a>, which operates in 11 countries, is seeing 30% y-o-y growth overall, driven by activities ranging from logistical to e-commerce financial services. The company\u2019s plans to increase its Egypt operations rely on growing its infrastructure: increasing the total number of pickup stations and warehouses to improve delivery time, as well as hiring more riders and improving tech infrastructure to expand its newly-launched Jumia Food service.<\/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\/foreign-reserves\/\">foreign reserves<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/inflation\/\">inflation<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/mena\/\">MENA<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/pmi\/\">PMI<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/startups\/\">startups<\/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=\"562053\" 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=\"562053\">\r\n            \r\n            <div class=\"story__body\">\r\n\r\n                <a href=\"https:\/\/enterpriseam.com\/egypt\/2021\/05\/05\/562053\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-562053\" class=\"content-area-description single-story post-562053 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\/5\/SOMA-ENTERPRISE-VAX-1600px.jpg?ssl=1\" alt='enterprise'><\/a><\/p>\n<p>As part of the tourism sector initiative, and since our community\u2019s well-being is our first priority, Somabay is vaccinated.<\/p>\n\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"562054\" 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=\"562054\">\r\n            \r\n                <div class=\"issue-story-header text-center\">\r\n                    <div class=\"index-number\">2<\/div>\r\n\r\n                    <p class=\"f-graphik\">Investment Watch<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2021\/05\/05\/is-egypt-going-to-build-two-massive-petrochem-complexes-in-ain-sokhna\/\">\r\n                            Is Egypt going to build two massive petrochem complexes in Ain Sokhna?                        <\/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\/05\/05\/is-egypt-going-to-build-two-massive-petrochem-complexes-in-ain-sokhna\/\" 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\/05\/05\/is-egypt-going-to-build-two-massive-petrochem-complexes-in-ain-sokhna\/')\">\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\/05\/05\/is-egypt-going-to-build-two-massive-petrochem-complexes-in-ain-sokhna\/\">\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=Is Egypt going to build two massive petrochem complexes in Ain Sokhna?&url=https:\/\/enterpriseam.com\/egypt\/2021\/05\/05\/is-egypt-going-to-build-two-massive-petrochem-complexes-in-ain-sokhna\/\">\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\/05\/05\/is-egypt-going-to-build-two-massive-petrochem-complexes-in-ain-sokhna\/&title=Is Egypt going to build two massive petrochem complexes in Ain Sokhna?\">\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=Is+Egypt+going+to+build+two+massive+petrochem+complexes+in+Ain+Sokhna%3F+https%3A%2F%2Fenterpriseam.com%2Fegypt%2F2021%2F05%2F05%2Fis-egypt-going-to-build-two-massive-petrochem-complexes-in-ain-sokhna%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\/05\/05\/is-egypt-going-to-build-two-massive-petrochem-complexes-in-ain-sokhna\/\">\r\n                    <div class=\"photo photo--above\">\r\n                        <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2021\/5\/37.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"562055\" data-permalink=\"https:\/\/enterpriseam.com\/egypt\/2021\/05\/05\/is-egypt-going-to-build-two-massive-petrochem-complexes-in-ain-sokhna\/37-jpg-12\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2021\/5\/37.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"37.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2021\/5\/37.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2021\/5\/37.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-562054\" class=\"content-area-description single-story post-562054 post type-post status-publish format-standard has-post-thumbnail hentry category-investment-watch tag-carbon-holdings tag-enterpriseam tag-investment-watch wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<p><a class=\"content-anchor\" id=\"tldr-story-01\"><\/a> <strong>Ain Sokhna could be getting (another) huge USD 7.5 bn petchem complex:<\/strong> The Suez Canal Economic Zone has signed a USD 7.5 bn agreement with the Red Sea National Refining and Petrochemicals Company to build a petrochemical complex in the Ain Sokhna industrial zone, cabinet said in a <a href=\"https:\/\/www.facebook.com\/EgyptianCabinet\/posts\/1917071771804512\">statement<\/a> out last Wednesday. The 3.56 mn sqm refinery \u2014 said to be the largest of its kind in Africa and the Middle East \u2014 will produce petroleum products including polyethylene, polypropylene, polyester, and bunker fuel, among others, and comes as part of Egypt\u2019s efforts to become a regional energy hub, reducing its reliance on imported products and increasing exports.<\/p>\n<p><strong>Sound familiar? This isn\u2019t Tahrir:<\/strong> The <a href=\"https:\/\/enterprise.press\/stories\/2019\/04\/15\/carbon-begins-construction-of-usd-11-bn-tahrir-petchem-complex\/\">USD 11 bn Tahrir Petrochemicals Complex<\/a> (TPC) being built by Carbon Holdings in Ain Sokhna is a separate project that remains underway, Carbon\u2019s Managing Director of Corporate Finance and Investor Relations Karim Helal told us yesterday. Work on the TPC \u2014 planned to be the biggest naphtha cracker facility in the Middle East \u2014 began in 2019 and is expected to be completed in 2024. Helal declined to provide updates on the progress with TPC. Oil Ministry spokesperson Hamdy Abdel Aziz also confirmed to Enterprise that the Red Sea National Refining\u2019s facility is a separate project from TPC.<\/p>\n\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/carbon-holdings\/\">Carbon Holdings<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/investment-watch\/\">investment watch<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                    <\/div>\n    <\/div>\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"562056\" 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=\"562056\">\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\">Suez Canal<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2021\/05\/05\/not-so-fast-ever-given\/\">\r\n                            Not so fast, Ever Given                        <\/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\/05\/05\/not-so-fast-ever-given\/\" 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\/05\/05\/not-so-fast-ever-given\/')\">\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\/05\/05\/not-so-fast-ever-given\/\">\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=Not so fast, Ever Given&url=https:\/\/enterpriseam.com\/egypt\/2021\/05\/05\/not-so-fast-ever-given\/\">\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\/05\/05\/not-so-fast-ever-given\/&title=Not so fast, Ever Given\">\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=Not+so+fast%2C+Ever+Given+https%3A%2F%2Fenterpriseam.com%2Fegypt%2F2021%2F05%2F05%2Fnot-so-fast-ever-given%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\/05\/05\/not-so-fast-ever-given\/\">\r\n                    <div class=\"photo photo--above\">\r\n                        <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2021\/5\/38.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"562057\" data-permalink=\"https:\/\/enterpriseam.com\/egypt\/2021\/05\/05\/not-so-fast-ever-given\/38-jpg-10\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2021\/5\/38.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"38.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2021\/5\/38.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2021\/5\/38.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-562056\" class=\"content-area-description single-story post-562056 post type-post status-publish format-standard has-post-thumbnail hentry category-suez-canal tag-enterpriseam tag-ever-given tag-shoei-kisen tag-suez-canal tag-suez-canal-authority wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<p><a class=\"content-anchor\" id=\"tldr-story-02\"><\/a> <strong>An Ismailia court has rejected Ever Given owner Shoei Kisen\u2019s <\/strong><strong><a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/229d76a0-686c-4bd0-866f-feae30560dec\">appeal<\/a><\/strong><strong> against the <\/strong><strong>Suez Canal Authority\u2019s seizure of the container ship<\/strong>, meaning the mega-vessel will remain in Egypt until at least May 22, when a second hearing is scheduled, <a href=\"https:\/\/www.bloomberg.com\/news\/articles\/2021-05-04\/egypt-court-upholds-order-to-detain-ship-that-blocked-suez-canal?sref=mmeFTDW1\">Bloomberg<\/a> reports. A decision from the court last month had allowed the authority to seize the ship until it receives payment of over USD 900 mn in compensation for losses incurred by the Ever Given\u2019s <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/dadbd6d3-070d-4c92-a080-62ebf8ceced1\">week-long blockage<\/a> of the Suez Canal in March. The <a href=\"https:\/\/apnews.com\/article\/suez-canal-africa-middle-east-egypt-europe-48c1b35fe91485be6e6029505d12ccbf\">Associated Press<\/a> also has the story.<\/p>\n<p><strong>The reasoning:<\/strong> The basis for the rejection seems to be procedural, with the SCA arguing that Shoei Kisen had not notified all the concerned parties within the required time limit, <a href=\"https:\/\/www.reuters.com\/article\/egypt-suezcanal-ship\/update-2-egyptian-court-rejects-appeal-against-detention-of-ship-in-suez-canal-idUSL1N2MR1BS\">Reuters<\/a> reports. The ship\u2019s insurer, UK Club, said Shoei Kisen would have until May 20 to appeal the decision \u2014 two days before the second hearing.<\/p>\n<p><strong>Where do things currently stand?<\/strong> Negotiations over the settlement are ongoing with Shoei Kisen, which <a href=\"https:\/\/apnews.com\/article\/europe-africa-middle-east-japan-health-477d57a8e1e17ef755ffed8fbff63b33\">said last week<\/a> it wanted the owners of the 18k containers on board to help pay damages. The Suez Canal Authority <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/1b06cfcf-14d0-4670-ae00-bb5ebfb3e42e\">has said<\/a> it will offer \u201cgreat considerations\u201d to the ship owners and that it is \u201ceager\u201d to reach an agreement. Three of the <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/d19cf015-3fe5-4be7-a9ea-0f8a965dc66a\">25 Indian crew members on board<\/a> were allowed to return home after the expiry of their contracts, the ship\u2019s German manager Bernhard Schulte Shipmanagement said in a <a href=\"https:\/\/www.bs-shipmanagement.com\/en\/media\/1-media-statement\">statement<\/a> last week.<\/p>\n<p><strong>A LITTLE SOUTH OF THE CANAL-<\/strong> It\u2019s <a href=\"https:\/\/www.wsj.com\/articles\/sailor-trapped-aboard-abandoned-cargo-ship-four-years-11619789989?page=1\">the Wall Street Journal\u2019s<\/a> turn to pick up the story of Mohamed Aisha, a Syrian sailor who had been stranded on board an abandoned ship in the Gulf of Suez for over two years.<\/p>\n\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/ever-given\/\">Ever Given<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/shoei-kisen\/\">Shoei Kisen<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/suez-canal\/\">Suez Canal<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/suez-canal-authority\/\">Suez Canal Authority<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                    <\/div>\n    <\/div>\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"562058\" 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=\"562058\">\r\n            \r\n                <div class=\"issue-story-header text-center\">\r\n                    <div class=\"index-number\">4<\/div>\r\n\r\n                    <p class=\"f-graphik\">Startup watch<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2021\/05\/05\/paymob-wants-to-set-up-shop-in-saudi\/\">\r\n                            Paymob wants to set up shop in Saudi                        <\/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\/05\/05\/paymob-wants-to-set-up-shop-in-saudi\/\" 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\/05\/05\/paymob-wants-to-set-up-shop-in-saudi\/')\">\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\/05\/05\/paymob-wants-to-set-up-shop-in-saudi\/\">\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=Paymob wants to set up shop in Saudi&url=https:\/\/enterpriseam.com\/egypt\/2021\/05\/05\/paymob-wants-to-set-up-shop-in-saudi\/\">\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\/05\/05\/paymob-wants-to-set-up-shop-in-saudi\/&title=Paymob wants to set up shop in Saudi\">\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=Paymob+wants+to+set+up+shop+in+Saudi+https%3A%2F%2Fenterpriseam.com%2Fegypt%2F2021%2F05%2F05%2Fpaymob-wants-to-set-up-shop-in-saudi%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\/05\/05\/paymob-wants-to-set-up-shop-in-saudi\/\">\r\n                    <div class=\"photo photo--above\">\r\n                        <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2021\/5\/39.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"562059\" data-permalink=\"https:\/\/enterpriseam.com\/egypt\/2021\/05\/05\/paymob-wants-to-set-up-shop-in-saudi\/39-jpg-14\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2021\/5\/39.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"39.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2021\/5\/39.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2021\/5\/39.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-562058\" class=\"content-area-description single-story post-562058 post type-post status-publish format-standard has-post-thumbnail hentry category-startup-watch tag-a15 tag-enterpriseam tag-financial-inclusion tag-fintech tag-fmo tag-global-ventures tag-paymob tag-saudi-arabia tag-startup-watch tag-venture-capital wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<p><a class=\"content-anchor\" id=\"tldr-story-03\"><\/a> <strong>Payment gateway Paymob is looking to roll out digital payment services in <\/strong><strong>Saudi Arabia in the coming five years<\/strong> as part of its wider expansion plans that would see the Egyptian startup operating in two new countries through representative offices there in the near future, CEO Islam Shawky told Al Mal TV (<a href=\"https:\/\/www.youtube.com\/watch?v=MjWV1DZgd1Y\">watch, runtime: 45:05<\/a>). Shawky did not name the other country nor its regional location, but said that Paymob is applying for a license to operate in KSA. The company currently operates in Egypt, Jordan, Kenya, Pakistan, and Palestine.<\/p>\n<p><strong>Egypt expansion plans:<\/strong> Paymob aims to see its volume of transactions doubling to reach USD 10 bn by the end of this year, while triple its points of sale, according to Shawky. The company also seeks to grow its domestic merchant network by tapping at least 1 mn merchants during the same period, he said.<\/p>\n<p><strong>The company is armed with <\/strong><strong><a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/3e6ff686-8c64-4a78-b0d9-3377eba63ca5\">USD 18.5 mn in fresh funding<\/a><\/strong>, after closing perhaps the largest series A round in Egyptian history, led by UAE-based Global Ventures, A15, and the Dutch entrepreneurial development bank (FMO) last month. This is in addition to <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/601ee882-fb55-4f16-bf78-8f9c0fce6227\">USD 3.5 mn<\/a> in funding raised in August last year. The company said then it would also use the funding to enhance its existing products, with the aim of \u201creducing digital payment bottlenecks.\u201d Paymob saw its monthly topline grow 5x in 2020 fueled by the surge in cashless transactions.<\/p>\n\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/a15\/\">A15<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/financial-inclusion\/\">financial inclusion<\/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\/fmo\/\">FMO<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/global-ventures\/\">Global Ventures<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/paymob\/\">Paymob<\/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\/startup-watch\/\">Startup watch<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/venture-capital\/\">venture capital<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                    <\/div>\n    <\/div>\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"562060\" 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=\"562060\">\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\">Startup watch<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2021\/05\/05\/giz-egypt-to-set-up-eur-100-mn-funding-program-for-new-vc-outfits\/\">\r\n                            GIZ Egypt to set up EUR 100 mn funding program for new VC outfits                        <\/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\/05\/05\/giz-egypt-to-set-up-eur-100-mn-funding-program-for-new-vc-outfits\/\" 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 program will invest in VC funds as a limited partner, with an eye to expand the local VC industry and increase investments into Egyptian startups, \u201cespecially those at their earliest stages,\u201d said Ali Saleh, head of young enterprise finance at GIZ Egypt.<\/p>\n<p><strong>The program targets funds based locally or in the MENA region \u2014 provided they have plans to invest in Egyptian startups.<\/strong> Three to four fund managers will be selected, with the ticket size per fund ranging from EUR 25-30 mn each.<\/p>\n<p><strong>What should selected fund managers expect?<\/strong> The one-year program will offer funding, mentorship and access to worldwide investors for prospective fund managers, while MSMEDA will provide technical support. The program will also train fund managers on how to raise capital and overcome various challenges in the industry, Saleh said.<\/p>\n\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/endure-capital\/\">Endure Capital<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/giz\/\">GiZ<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/sme-development-authority\/\">SME Development Authority<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/startup-watch\/\">Startup watch<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                    <\/div>\n    <\/div>\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"562062\" 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=\"562062\">\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\">Diplomacy<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2021\/05\/05\/france-is-learning-to-sing-biladi-biladi\/\">\r\n                            France is learning to sing \u201cBiladi, Biladi\u201d                        <\/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\/05\/05\/france-is-learning-to-sing-biladi-biladi\/\" 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\/05\/05\/france-is-learning-to-sing-biladi-biladi\/')\">\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\/05\/05\/france-is-learning-to-sing-biladi-biladi\/\">\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=France is learning to sing \u201cBiladi, Biladi\u201d&url=https:\/\/enterpriseam.com\/egypt\/2021\/05\/05\/france-is-learning-to-sing-biladi-biladi\/\">\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\/05\/05\/france-is-learning-to-sing-biladi-biladi\/&title=France is learning to sing \u201cBiladi, Biladi\u201d\">\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=France+is+learning+to+sing+%E2%80%9CBiladi%2C+Biladi%E2%80%9D+https%3A%2F%2Fenterpriseam.com%2Fegypt%2F2021%2F05%2F05%2Ffrance-is-learning-to-sing-biladi-biladi%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\/05\/05\/france-is-learning-to-sing-biladi-biladi\/\">\r\n                    <div class=\"photo photo--above\">\r\n                        <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2021\/5\/41.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"562063\" data-permalink=\"https:\/\/enterpriseam.com\/egypt\/2021\/05\/05\/france-is-learning-to-sing-biladi-biladi\/41-jpg-11\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2021\/5\/41.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"41.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2021\/5\/41.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2021\/5\/41.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-562062\" class=\"content-area-description single-story post-562062 post type-post status-publish format-standard has-post-thumbnail hentry category-diplomacy tag-dassault-aviation tag-defense tag-diplomacy tag-enterpriseam tag-france tag-national-security tag-politics wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<p><strong>Egypt will purchase 30 Rafale fighter jets from French defense firm Dassault <\/strong><strong>Aviation<\/strong>, the Egyptian Armed Forces said in <a href=\"https:\/\/www.facebook.com\/EgyArmySpox\/posts\/2326394277491541?_rdc=2&_rdr\">a statement<\/a>. A French government official told <a href=\"https:\/\/www.reuters.com\/article\/idUSFWN2MR0O1\">Reuters<\/a> that Egypt had agreed to pay USD 4.8 bn to French contractors and that deliveries would start in 2024. The agreement also includes contracts worth EUR 200 mn with missile provider MBDA and equipment provider Safran Electronics & Defense, <a href=\"https:\/\/www.reuters.com\/article\/idUSKBN2CL105\">the newswire<\/a> reported.<\/p>\n<p><strong>This isn\u2019t the first time Egypt has bought Rafales: <\/strong>Cairo purchased 24 of the jets from France back in 2015.<\/p>\n<p><strong>The story is dominating coverage on Egypt in the foreign press this morning:<\/strong> <a href=\"https:\/\/apnews.com\/article\/europe-france-business-e6a2e41ba4d778bf3ee4b99ad32dc6fb\">Associated Press<\/a> | <a href=\"https:\/\/bit.ly\/33f95fm\">AFP<\/a> | <a href=\"https:\/\/www.france24.com\/en\/video\/20210504-egypt-buys-30-rafale-fighter-jets-from-france-rights-groups-voice-concern\">France24<\/a> | <a href=\"https:\/\/www.dw.com\/en\/france-agrees-sale-of-war-planes-to-egypt\/a-57418002\">Deutsche Welle<\/a>.<\/p>\n<p><strong>OTHER DIPLOMACY NEWS- USAID plans to step up its cooperation with Egypt on <\/strong><strong>climate change and covid-19 relief programs in the coming period<\/strong>, Egypt Mission Director Leslie Reed said during a meeting with International Cooperation Minister Rania Al Mashat, according to a <a href=\"https:\/\/www.facebook.com\/MOICEgypt\/posts\/3781301321917108\">statement<\/a>. The meeting also saw the two discussing plans for cooperation between Egypt and the US on development issues, including gender equality and boosting private sector engagement over the next five years.<\/p>\n<p><strong>Bilateral cooperation was on the agenda<\/strong> for Foreign Minister Sameh Shoukry in a <a href=\"https:\/\/twitter.com\/Boukadoum_S\/status\/1389519325267177473\">phone call<\/a> yesterday with his Algerian counterpart Sabri Boukadoum.<\/p>\n\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/dassault-aviation\/\">Dassault Aviation<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/defense\/\">Defense<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/diplomacy\/\">DIPLOMACY<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/france\/\">France<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/national-security\/\">national security<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/politics\/\">politics<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                    <\/div>\n    <\/div>\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"562064\" 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=\"562064\">\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\">COVID WATCH<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2021\/05\/05\/pfizer-clearance-for-teens\/\">\r\n                            Pfizer clearance for teens?                        <\/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\/05\/05\/pfizer-clearance-for-teens\/\" 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\/05\/05\/pfizer-clearance-for-teens\/')\">\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\/05\/05\/pfizer-clearance-for-teens\/\">\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=Pfizer clearance for teens?&url=https:\/\/enterpriseam.com\/egypt\/2021\/05\/05\/pfizer-clearance-for-teens\/\">\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\/05\/05\/pfizer-clearance-for-teens\/&title=Pfizer clearance for teens?\">\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=Pfizer+clearance+for+teens%3F+https%3A%2F%2Fenterpriseam.com%2Fegypt%2F2021%2F05%2F05%2Fpfizer-clearance-for-teens%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\/05\/05\/pfizer-clearance-for-teens\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-562064\" class=\"content-area-description single-story post-562064 post type-post status-publish format-standard hentry category-covid-watch tag-africa tag-children tag-covax tag-covid-19 tag-emerging-markets tag-enterpriseam tag-india tag-pfizer tag-vaccines wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<p><a class=\"content-anchor\" id=\"tldr-story-05\"><\/a> <strong>The Health Ministry <\/strong><strong><a href=\"https:\/\/www.facebook.com\/egypt.mohp\/posts\/373621590855126\">reported<\/a><\/strong><strong> 1,090 new covid-19 infections yesterday<\/strong>, up from 1,078 the day before. The ministry also reported 60 new deaths, bringing the country\u2019s total death toll to 13,591. Egypt has now disclosed a total of 231,803 confirmed cases of covid-19.<\/p>\n<p><strong>Supply constraints and antivaxers in Africa threaten a repeat of the surge in covid-ravaged India<\/strong> as Gavi \/ Covax vaccine deliveries look unlikely to arrive before June, co-chair of the Africa Vaccine Delivery Alliance Ayoade Alakija tells <a href=\"https:\/\/www.ft.com\/content\/418d7904-9e7b-47a6-b18a-a0606bf11170\">the Financial Times<\/a>.<\/p>\n<p><strong>Countries like Rwanda, Senegal, Ghana and Botswana, which have \u201cefficiently\u201d used<\/strong><strong> their limited vaccine supplies, are seeing their Covax doses dry up<\/strong> after the shipment suspension, while Egypt, Nigeria and Tunisia are among the African countries registering low weekly infection rates, according to a research note from Renaissance Capital.<\/p>\n<p><strong>Covid-19 vaccines could be available soon for ages 12-15:<\/strong> US regulators are poised to approve Pfizer-BioNTech's vaccine for children ages 12 to 15 next week, the <a href=\"https:\/\/www.ft.com\/content\/68721f4c-7635-43c3-aa9d-4caf7870ea18\">Financial Times<\/a> reports, citing sources with knowledge of the regulatory process. Manufacturers applied for the authorization last month after promising results from phase 3 clinical trials. The move could help the US get closer to herd immunity and help schools to reopen full-time later this year, the salmon-colored paper says.<\/p>\n\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/africa\/\">Africa<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/children\/\">Children<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/covax\/\">Covax<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/covid-19\/\">covid-19<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/emerging-markets\/\">emerging markets<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/india\/\">India<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/pfizer\/\">Pfizer<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/vaccines\/\">vaccines<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                    <\/div>\n    <\/div>\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"562065\" 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=\"562065\">\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\">Moves<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2021\/05\/05\/moves-arabia-investments-taps-hazem-mostafa-as-ceo-amr-ali-appointed-to-head-eaea\/\">\r\n                            Moves: Arabia Investments taps Hazem Mostafa as CEO; Amr Ali appointed to head EAEA                        <\/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\/05\/05\/moves-arabia-investments-taps-hazem-mostafa-as-ceo-amr-ali-appointed-to-head-eaea\/\" 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\/05\/05\/moves-arabia-investments-taps-hazem-mostafa-as-ceo-amr-ali-appointed-to-head-eaea\/')\">\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\/05\/05\/moves-arabia-investments-taps-hazem-mostafa-as-ceo-amr-ali-appointed-to-head-eaea\/\">\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=Moves: Arabia Investments taps Hazem Mostafa as CEO; Amr Ali appointed to head EAEA&url=https:\/\/enterpriseam.com\/egypt\/2021\/05\/05\/moves-arabia-investments-taps-hazem-mostafa-as-ceo-amr-ali-appointed-to-head-eaea\/\">\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\/05\/05\/moves-arabia-investments-taps-hazem-mostafa-as-ceo-amr-ali-appointed-to-head-eaea\/&title=Moves: Arabia Investments taps Hazem Mostafa as CEO; Amr Ali appointed to head EAEA\">\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=Moves%3A+Arabia+Investments+taps+Hazem+Mostafa+as+CEO%3B+Amr+Ali+appointed+to+head+EAEA+https%3A%2F%2Fenterpriseam.com%2Fegypt%2F2021%2F05%2F05%2Fmoves-arabia-investments-taps-hazem-mostafa-as-ceo-amr-ali-appointed-to-head-eaea%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\/05\/05\/moves-arabia-investments-taps-hazem-mostafa-as-ceo-amr-ali-appointed-to-head-eaea\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-562065\" class=\"content-area-description single-story post-562065 post type-post status-publish format-standard hentry category-moves tag-arabia-investments-holding tag-banking tag-enterpriseam tag-moves wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<p><strong>Arabia Investments Holding<\/strong> has appointed <strong>Hazem <\/strong><strong>Mostafa<\/strong> as its new CEO effective 1 May, the company said in<a href=\"https:\/\/ent.news\/2021\/5\/Arabia-Investments-CEO-EN.pdf\">a statement to the EGX (<\/a><a href=\"https:\/\/ent.news\/2021\/5\/Arabia-Investments-CEO-EN.pdf\">pdf<\/a><a href=\"https:\/\/ent.news\/2021\/5\/Arabia-Investments-CEO-EN.pdf\">)<\/a>. Mostafa, who succeeded Sherif Shaheen (<a href=\"https:\/\/www.linkedin.com\/in\/sherifshaheen\/?originalSubdomain=eg\">LinkedIn<\/a>), has more than 38 years of local and regional experience in the banking field and joins from Al Baraka Bank Egypt where he served as the senior deputy CEO.<\/p>\n<p><strong>Amr El Hag Ali<\/strong> (<a href=\"https:\/\/eg.linkedin.com\/in\/amr-el-hag-ali-4617802b\">LinkedIn<\/a>) has been appointed the head of the <strong>Egyptian Atomic Energy A<\/strong><strong>uthority<\/strong> for a four-year term from 1 May, according to a decision seen by <a href=\"https:\/\/bit.ly\/3gWXSZ2\">Masrawy<\/a>.<\/p>\n\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/arabia-investments-holding\/\">Arabia Investments Holding<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/banking\/\">banking<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/moves\/\">moves<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                    <\/div>\n    <\/div>\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"562066\" class=\"issue-section \">\n<div class=\"issue-section__content\">\n<div class=\"stories\">            <!-- Show divider before story section -->\r\n        <div \r\n            class=\"\r\n                            \"\r\n            id=\"562066\">\r\n            \r\n            <div class=\"story__body\">\r\n\r\n                <a href=\"https:\/\/enterpriseam.com\/egypt\/2021\/05\/05\/562066\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-562066\" class=\"content-area-description single-story post-562066 post type-post status-publish format-standard hentry category-uncategorized wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<p class='web-image'><a href='https:\/\/www.sodic.com\/'><img decoding=\"async\" data-recalc-dims=\"1\" src=\"https:\/\/i0.wp.com\/ent.news\/2021\/3\/Sodic-The-Estate2-1600px.jpg?ssl=1\" alt='enterprise'><\/a><\/p>\n\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"562067\" 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=\"562067\">\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\">Enterprise+: Last Night\u2019s Talk Shows<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2021\/05\/05\/last-nights-talk-shows-on-5-may-2021\/\">\r\n                            Last Night\u2019s Talk Shows on 5 May 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\/05\/05\/last-nights-talk-shows-on-5-may-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\/05\/05\/last-nights-talk-shows-on-5-may-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\/05\/05\/last-nights-talk-shows-on-5-may-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 5 May 2021&url=https:\/\/enterpriseam.com\/egypt\/2021\/05\/05\/last-nights-talk-shows-on-5-may-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\/05\/05\/last-nights-talk-shows-on-5-may-2021\/&title=Last Night\u2019s Talk Shows on 5 May 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+5+May+2021+https%3A%2F%2Fenterpriseam.com%2Fegypt%2F2021%2F05%2F05%2Flast-nights-talk-shows-on-5-may-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\/05\/05\/last-nights-talk-shows-on-5-may-2021\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-562067\" class=\"content-area-description single-story post-562067 post type-post status-publish format-standard hentry category-enterprise-last-nights-talk-shows tag-diplomacy tag-enterpriseam tag-last-nights-talk-shows tag-turkey tag-us wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<p><strong>It was an insipid night on the airwaves<\/strong>, as both Kelma Akhira\u2019s Lamees El Hadidi and El Hekaya\u2019s Amr Adib were off, reducing us to watching Ala Mas\u2019ouleety\u2019s Ahmed Moussa for the evening. Diplomacy was once again Moussa\u2019s theme du jour, as he looked at the arrival of the Turkish delegation and US Special Envoy for the Horn of Africa Jeffrey Feltman\u2019s tour of the region (<a href=\"https:\/\/www.youtube.com\/watch?v=-6JnYaQBxd8\">watch, runtime: 5:32<\/a>). We have more on both stories in What We\u2019re Tracking Today, above.<\/p>\n\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/diplomacy\/\">DIPLOMACY<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/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\/turkey\/\">Turkey<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/us\/\">US<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                    <\/div>\n    <\/div>\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"562068\" class=\"issue-section \">\n<div class=\"issue-section__content\">\n<div class=\"stories\">      \r\n<section id=\"advertiser\" class=\"enterprise-adv issue-section\">\r\n    <div class=\"issue-section__content\" style=\"flex-direction: column;\">\r\n  \r\n                <h4 class=\"wp-block-heading has-text-align-center has-normal-font-size\">\r\n                <span class=\"has-primary-color stk-highlight\">This publication is proudly sponsored by<\/span><\/h4>\r\n                \r\n\r\n                \r\n                <div class=\"wp-block-stackable-carousel alignwide stk-block-carousel stk--is-slide stk--infinite-scroll stk--arrows-justify-space-between stk--arrows-align-center stk-block stk-a38cfb2 sponsor-slider-container mb-0\" data-slides-to-show=\"3\" data-block-id=\"a38cfb2\"><style>.stk-a38cfb2 {--slides-to-show:3 !important;}.stk-a38cfb2 .stk-block-carousel__button{background:#00000099 !important;fill:#FFFFFF !important;border-radius:4px !important;}.stk-a38cfb2 .stk-block-carousel__button svg.ugb-custom-icon :is(g, path, rect, polygon, ellipse){fill:#FFFFFF !important;}<\/style>\r\n                <div class=\"stk-block-carousel__content-wrapper\">\r\n                <div class=\"stk-row stk-inner-blocks stk-block-content stk-block-carousel__slider-wrapper stk-content-align stk-a38cfb2-column alignwide\">\r\n                <div class=\"stk-block-carousel__slider\" role=\"list\" data-autoplay=\"4000\" data-label-slide-of=\"Slide %%d of %%d\">\r\n            <div class=\"wp-block-stackable-column stk-block-column stk-column stk-block stk-46c5f99\" data-v=\"4\" data-block-id=\"46c5f99\"><div class=\"stk-column-wrapper stk-block-column__content stk-container stk-46c5f99-container stk--no-background stk--no-padding\"><div class=\"stk-block-content stk-inner-blocks stk-46c5f99-inner-blocks\">\r\n            <div class=\"issue-sponsor-slide\">\r\n                <img data-recalc-dims=\"1\" decoding=\"async\" draggable=\"false\" src=\"https:\/\/i0.wp.com\/ent.news\/internal\/240922.png?ssl=1\">\r\n                <div class=\"overlay\"><\/div>\r\n                <div class=\"content\">\r\n                    <a draggable=\"false\" href=\"https:\/\/www.hsbc.com.eg\/\" target=\"_blank\" class=\"logo\" rel=\"noopener\">\r\n                        <img decoding=\"async\" draggable=\"false\" src=\"https:\/\/ent.news\/internal\/27489.svg\" alt=\"\">\r\n                    <\/a>\r\n                    <span>Opening up a world of opportunity<\/span>\r\n                <\/div>\r\n            <\/div>\r\n            <\/div><\/div><\/div>\r\n        \r\n            <div class=\"wp-block-stackable-column stk-block-column stk-column stk-block stk-1w9qck2\" data-v=\"4\" data-block-id=\"1w9qck2\"><div class=\"stk-column-wrapper stk-block-column__content stk-container stk-1w9qck2-container stk--no-background stk--no-padding\"><div class=\"stk-block-content stk-inner-blocks stk-1w9qck2-inner-blocks\">\r\n            <div class=\"issue-sponsor-slide\">\r\n                <img data-recalc-dims=\"1\" decoding=\"async\" draggable=\"false\" src=\"https:\/\/i0.wp.com\/ent.news\/internal\/240923.png?ssl=1\">\r\n                <div class=\"overlay\"><\/div>\r\n                <div class=\"content\">\r\n                    <a draggable=\"false\" href=\"https:\/\/efghldg.com\/en\" target=\"_blank\" class=\"logo\" rel=\"noopener\">\r\n                        <img decoding=\"async\" draggable=\"false\" src=\"https:\/\/ent.news\/internal\/27488.svg\" alt=\"\">\r\n                    <\/a>\r\n                    <span>Realize More<\/span>\r\n                <\/div>\r\n            <\/div>\r\n            <\/div><\/div><\/div>\r\n        \r\n            <div class=\"wp-block-stackable-column stk-block-column stk-column stk-block stk-nwbgq1y\" data-v=\"4\" data-block-id=\"nwbgq1y\"><div class=\"stk-column-wrapper stk-block-column__content stk-container stk-nwbgq1y-container stk--no-background stk--no-padding\"><div class=\"stk-block-content stk-inner-blocks stk-nwbgq1y-inner-blocks\">\r\n            <div class=\"issue-sponsor-slide\">\r\n                <img data-recalc-dims=\"1\" decoding=\"async\" draggable=\"false\" src=\"https:\/\/i0.wp.com\/ent.news\/internal\/240924.png?ssl=1\">\r\n                <div class=\"overlay\"><\/div>\r\n                <div class=\"content\">\r\n                    <a draggable=\"false\" href=\"https:\/\/www.sodic.com\/\" target=\"_blank\" class=\"logo\" rel=\"noopener\">\r\n                        <img decoding=\"async\" draggable=\"false\" src=\"https:\/\/ent.news\/internal\/27487.svg\" alt=\"\">\r\n                    <\/a>\r\n                    <span>Live More<\/span>\r\n                <\/div>\r\n            <\/div>\r\n            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      <\/a>\r\n                    <span>Powering with nature<\/span>\r\n                <\/div>\r\n            <\/div>\r\n            <\/div><\/div><\/div>\r\n        \r\n            <div class=\"wp-block-stackable-column stk-block-column stk-column stk-block stk-8bk2z3c\" data-v=\"4\" data-block-id=\"8bk2z3c\"><div class=\"stk-column-wrapper stk-block-column__content stk-container stk-8bk2z3c-container stk--no-background stk--no-padding\"><div class=\"stk-block-content stk-inner-blocks stk-8bk2z3c-inner-blocks\">\r\n            <div class=\"issue-sponsor-slide\">\r\n                <img data-recalc-dims=\"1\" decoding=\"async\" draggable=\"false\" src=\"https:\/\/i0.wp.com\/ent.news\/internal\/240926.jpg?ssl=1\">\r\n                <div class=\"overlay\"><\/div>\r\n                <div class=\"content\">\r\n                    <a draggable=\"false\" href=\"https:\/\/www.qalaaholdings.com\/\" target=\"_blank\" class=\"logo\" rel=\"noopener\">\r\n                        <img decoding=\"async\" draggable=\"false\" src=\"https:\/\/ent.news\/internal\/110691.svg\" alt=\"\">\r\n                    <\/a>\r\n                    <span>Driving growth<\/span>\r\n                <\/div>\r\n            <\/div>\r\n            <\/div><\/div><\/div>\r\n        <\/div><div class=\"stk-block-carousel__buttons\"><button class=\"stk-block-carousel__button stk-block-carousel__button__prev\" aria-label=\"Previous slide\"><svg aria-hidden=\"true\" focusable=\"false\" data-prefix=\"fas\" data-icon=\"chevron-left\" class=\"svg-inline--fa fa-chevron-left\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" viewBox=\"0 0 320 512\" width=\"32\" height=\"32\"><path d=\"M34.52 239.03L228.87 44.69c9.37-9.37 24.57-9.37 33.94 0l22.67 22.67c9.36 9.36 9.37 24.52.04 33.9L131.49 256l154.02 154.75c9.34 9.38 9.32 24.54-.04 33.9l-22.67 22.67c-9.37 9.37-24.57 9.37-33.94 0L34.52 272.97c-9.37-9.37-9.37-24.57 0-33.94z\"><\/path><\/svg><\/button><button class=\"stk-block-carousel__button 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         class=\"\r\n                story-section            \"\r\n            id=\"562069\">\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\">EGYPT IN THE NEWS<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2021\/05\/05\/egypt-in-the-news-on-5-may-2021\/\">\r\n                            Egypt in the News on 5 May 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         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              <a href=\"https:\/\/api.whatsapp.com\/send?text=Egypt+in+the+News+on+5+May+2021+https%3A%2F%2Fenterpriseam.com%2Fegypt%2F2021%2F05%2F05%2Fegypt-in-the-news-on-5-may-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\/05\/05\/egypt-in-the-news-on-5-may-2021\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-562069\" class=\"content-area-description single-story post-562069 post type-post status-publish format-standard hentry category-egypt-in-the-news tag-ancient-egypt tag-archaeology tag-enterpriseam tag-human-rights tag-joe-biden wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<p><strong>It\u2019s a mixed bag of nuts for Egypt in the foreign press:<\/strong> Tourism and archaeology are getting digital ink, with <a href=\"https:\/\/www.reuters.com\/world\/middle-east\/egyptologists-uncover-rare-tombs-before-pharaohs-2021-04-28\/\">Reuters<\/a> picking up <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/0f1b022f-f020-40b7-a599-9a920e8b91d9\">last week\u2019s discovery<\/a> of 110 ancient tombs in the Nile Delta, while Polish researchers have said that a mummy previously thought to be a male priest is actually <a href=\"https:\/\/www.reuters.com\/lifestyle\/science\/polish-scientists-discover-ancient-egyptian-mummy-was-pregnant-woman-2021-04-30\/\">the remains of a pregnant woman<\/a>. The <a href=\"https:\/\/www.reuters.com\/world\/middle-east\/tourists-offered-glimpse-rural-life-near-egypts-pyramids-2021-05-04\/\">newswire<\/a> also took note of an EU-funded tourism project focusing on rural villages surrounding the pyramids of Giza, Saqqara and Dahshur that takes visitors through lesser known locations surrounding ancient monuments.<\/p>\n<p><strong>On the arts and culture front<\/strong>, <a href=\"https:\/\/www.nytimes.com\/2021\/04\/29\/obituaries\/inji-efflatoun-overlooked.html?searchResultPosition=1\">the New York Times<\/a> profiles the late Egyptian aristocrat-turned-Marxist artist Inji Efflatoun, whose subversive artwork spoke out against the realities of colonialism, poverty and the Nasser administration, while <a href=\"https:\/\/www.theguardian.com\/lifeandstyle\/2021\/may\/02\/the-dancehall-divas-who-set-the-pace-in-egypts-roaring-20s\">the Guardian<\/a> reviews Midnight in Cairo, in which Raphael Cormack argues that 1920s dance halls played a central role in the development of Egypt\u2019s feminist movement. Graphic depictions of violence against women in some of this year\u2019s Ramadan mosalsalat haven\u2019t been well received by some MPs and government officials, who claim that the scenes will encourage further gendered violence, according to <a href=\"https:\/\/www.al-monitor.com\/originals\/2021\/05\/critics-ramadan-tv-say-violence-against-women-not-entertainment\">Al Monitor<\/a>.<\/p>\n<p><strong>Meanwhile:<\/strong> <a href=\"https:\/\/www.motherjones.com\/politics\/2021\/04\/joe-biden-egypt-el-sisi-weapons\/\">Mother Jones<\/a> wonders why the Biden administration is continuing to send weapons to Egypt despite talking tough on the country\u2019s human rights situation.<\/p>\n\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/ancient-egypt\/\">Ancient Egypt<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/archaeology\/\">archaeology<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/human-rights\/\">human rights<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/joe-biden\/\">Joe Biden<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                    <\/div>\n    <\/div>\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"562070\" class=\"issue-section \">\n<div class=\"issue-section__content\">\n<div class=\"stories\">    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"562071\" 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=\"562071\">\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\">Also on our Radar<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2021\/05\/05\/also-on-our-radar-on-5-april-2021-2\/\">\r\n                            Also on our Radar on 5 April 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\/05\/05\/also-on-our-radar-on-5-april-2021-2\/\" 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\/05\/05\/also-on-our-radar-on-5-april-2021-2\/')\">\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\/05\/05\/also-on-our-radar-on-5-april-2021-2\/\">\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 5 April 2021&url=https:\/\/enterpriseam.com\/egypt\/2021\/05\/05\/also-on-our-radar-on-5-april-2021-2\/\">\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\/05\/05\/also-on-our-radar-on-5-april-2021-2\/&title=Also on our Radar on 5 April 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+5+April+2021+https%3A%2F%2Fenterpriseam.com%2Fegypt%2F2021%2F05%2F05%2Falso-on-our-radar-on-5-april-2021-2%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\/05\/05\/also-on-our-radar-on-5-april-2021-2\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-562071\" class=\"content-area-description single-story post-562071 post type-post status-publish format-standard hentry category-also-on-our-radar tag-also-on-our-radar tag-engineering-syndicate-act tag-enterpriseam tag-house-of-representatives tag-misr-capital tag-misr-life-insurance tag-senate wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<p><a class=\"content-anchor\" id=\"tldr-story-06\"><\/a> <strong>Misr Life Ins. Company and Misr Capital have launched a EGP 100 mn money <\/strong><strong>market fund<\/strong> that will invest in liquid assets such as treasury bills and short-term corporate debt, <a href=\"https:\/\/bit.ly\/3nWXUlj\">Masrawy<\/a> reports. Subscription to the fund, dubbed \u201cMisr Life Ins. Investment Fund,\u201d will be through Misr Capital and Misr Capital Fixed Income Brokerage. Misr Capital <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/d5aae13a-dcca-4201-b3c3-0f924b42b208\">launched a similar type of fund<\/a> in partnership with Sarwa Life Ins. earlier this year.<\/p>\n<p><strong>The first direct flight from St. Petersburg to Cairo since 2018 <\/strong><strong><a href=\"https:\/\/bit.ly\/3ujDZzd\">landed<\/a><\/strong> at Cairo International Airport last night. The flight was operated by Russian carrier Nordwind airlines, with more legs expected to be added in the near future. The re-introduction of this flight route comes ahead of the anticipated <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/c519a123-45d0-4854-bea1-74e7059dfcfd\">resumption of direct flights<\/a> from Russia to Egypt\u2019s Red Sea destinations starting June.<\/p>\n<p><strong>Other things we\u2019re keeping an eye on this morning:<\/strong><\/p>\n<ul>\n<li>The <strong>Senate <\/strong><a href=\"https:\/\/bit.ly\/3egUvdR\">has approved<\/a> legislative amendments <strong>regulating the Engineering <\/strong><strong>Syndicate\u2019s elections and general assembly<\/strong>, which will now be shipped to the House for discussion.<\/li>\n<li>Hydrocarbon exploration company <strong>APA\u2019s Western Desert assets<\/strong> will be consolidated into a single new concession comprising 90% of its production volumes in Egypt under an <a href=\"https:\/\/finance.yahoo.com\/news\/apa-corporation-announces-agreement-principle-125000014.html\">agreement<\/a> between the company and the Oil Ministry.<\/li>\n<li>Some <strong>22 mn properties have been <\/strong><strong><a href=\"https:\/\/english.ahram.org.eg\/NewsContent\/3\/12\/410505\/Business\/Economy\/-mln-properties-have-been-registered-online-in-Egy.aspx\">registered<\/a><\/strong> on the government\u2019s newly launched online property database since January as part of a push to <a href=\"https:\/\/enterprise.press\/stories\/2019\/09\/23\/egypt-is-setting-up-a-digital-log-of-real-estate-asset-sales-to-collect-its-2-5-levy\/\">minimize property tax evasion<\/a>.<\/li>\n<\/ul>\n\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/also-on-our-radar\/\">ALSO ON OUR RADAR<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/engineering-syndicate-act\/\">Engineering Syndicate Act<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/house-of-representatives\/\">House of Representatives<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/misr-capital\/\">Misr Capital<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/misr-life-insurance\/\">Misr Life Insurance<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/senate\/\">Senate<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                    <\/div>\n    <\/div>\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"562072\" 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=\"562072\">\r\n            \r\n                <div class=\"issue-story-header text-center\">\r\n                    <div class=\"index-number\">12<\/div>\r\n\r\n                    <p class=\"f-graphik\">PLANET FINANCE<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2021\/05\/05\/what-the-markets-are-doing-on-5-may-2021\/\">\r\n                            What the markets are doing on 5 May 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\/05\/05\/what-the-markets-are-doing-on-5-may-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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Among the raw materials seeing a jump in prices are iron ore \u2014 \u201cthe key ingredient needed to make steel, palladium, used by carmakers to limit harmful emissions\u201d \u2014 which is proving particularly popular as expectations of a \u201cgreening\u201d global economy pick up steam. Need a refresher on the supercycle and what it means for Egypt? <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/2fb13174-3377-49ef-8300-480e0abee206\">We\u2019ve got you covered<\/a>.<\/p><p><strong>Saudi Aramco\u2019s 1Q2021 net income soared 30% as oil prices recovered, <\/strong>giving the state-owned giant the ability to deliver a record USD 18.75 bn dividend payout it had promised investors, according to its <a href=\"https:\/\/www.aramco.com\/-\/media\/publications\/corporate-reports\/saudi-aramco-q1-2021-results-press-release-english.pdf?la=en&amp;hash=2D6D0422DA6FE0744598C282E129EF71A903B94D\">earnings release (pdf)<\/a>. Aramco\u2019s net income came in at USD 21.7 bn for the quarter, up from USD 16.7 bn in the same period last year, when earnings took a strong hit from the early effects of the pandemic and the collapse in oil prices in March.<\/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>10,466<\/p>\n<\/td>\n<td>\n<p>-0.1% (YTD: -3.5%)<\/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>USD (CBE)<\/strong><\/p>\n<\/td>\n<td>\n<p>Buy 15.62<\/p>\n<\/td>\n<td>\n<p>Sell 15.73<\/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>USD at CIB<\/strong><\/p>\n<\/td>\n<td>\n<p>Buy 15.61<\/p>\n<\/td>\n<td>\n<p>Sell 15.71<\/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>10,319<\/p>\n<\/td>\n<td>\n<p>+0.1% (YTD: +18.8%)<\/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>ADX<\/strong><\/p>\n<\/td>\n<td>\n<p>6,118<\/p>\n<\/td>\n<td>\n<p>+0.4% (YTD: +21.3%)<\/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>DFM<\/strong><\/p>\n<\/td>\n<td>\n<p>2,644<\/p>\n<\/td>\n<td>\n<p>-0.4% (YTD: +6.1%)<\/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>S&amp;P 500<\/strong><\/p>\n<\/td>\n<td>\n<p>4,165<\/p>\n<\/td>\n<td>\n<p>-0.7% (YTD: +10.9%)<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-down\">\n<td class=\"td-list-down\">\n<p><svg class=\"e-icon e-TypeMarkets1\"><use xlink:href=\"#e-TypeMarkets1\"><\/use><\/svg><\/p>\n<\/td>\n<td>\n<p><strong>FTSE 100<\/strong><\/p>\n<\/td>\n<td>\n<p>6,923<\/p>\n<\/td>\n<td>\n<p>-0.7% (YTD: +7.2%)<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-up\">\n<td class=\"td-list-up\">\n<p><svg class=\"e-icon e-TypeMarkets11\"><use xlink:href=\"#e-TypeMarkets11\"><\/use><\/svg><\/p>\n<\/td>\n<td>\n<p><strong>Brent crude<\/strong><\/p>\n<\/td>\n<td>\n<p>USD 69.54<\/p>\n<\/td>\n<td>\n<p>+1.0%<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-up\">\n<td class=\"td-list-up\">\n<p><svg class=\"e-icon e-TypeMarkets11\"><use xlink:href=\"#e-TypeMarkets11\"><\/use><\/svg><\/p>\n<\/td>\n<td>\n<p><strong>Natural gas <\/strong>(Nymex)<\/p>\n<\/td>\n<td>\n<p>USD 2.98<\/p>\n<\/td>\n<td>\n<p>+0.3%<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-up\">\n<td class=\"td-list-up\">\n<p><svg class=\"e-icon e-TypeMarkets11\"><use xlink:href=\"#e-TypeMarkets11\"><\/use><\/svg><\/p>\n<\/td>\n<td>\n<p><strong>Gold<\/strong><\/p>\n<\/td>\n<td>\n<p>USD 1,779.30<\/p>\n<\/td>\n<td>\n<p>+0.2%<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-down\">\n<td class=\"td-list-down\">\n<p><svg class=\"e-icon e-TypeMarkets1\"><use xlink:href=\"#e-TypeMarkets1\"><\/use><\/svg><\/p>\n<\/td>\n<td>\n<p><strong>BTC<\/strong><\/p>\n<\/td>\n<td>\n<p>USD 54,993.63<\/p>\n<\/td>\n<td>\n<p>-0.9%<\/p>\n<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<\/div><p><strong>The EGX30 fell 0.1% yesterday<\/strong> on turnover of EGP 790 mn (37.9% below the 90-day average). Local investors were net sellers. The index is down 3.5% YTD.<\/p><p><strong>In the green: <\/strong>Export Development Bank (+3.2%), Credit Agricole (+2.4%) and Orascom Development (+2.4%).<\/p><p><strong>In the red: <\/strong>Madinet Nasr Housing (-12.1%), CI Capital (-3.5%) and Edita (-3.4%).<\/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\/aramco\/\">Aramco<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/earnings\/\">earnings<\/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\/financial-markets\/\">Financial Markets<\/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\/planet-finance\/\">Planet Finance<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                    <\/div>\n    <\/div>\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<div class=\"alignfull hardhat vertical-section wide-section wp-block-group issue-section\" id=\"562073\">\r\n    <div class=\"issue-section__content\">\r\n        <div class=\"alignwide wp-block-columns\">\r\n            <div class=\"wp-block-column sidebar-vertical-info\" style=\"flex-basis:22.8%\">\r\n                <figure class=\"wp-block-image size-full\">\r\n                                            <img decoding=\"async\" src=\"https:\/\/s3.amazonaws.com\/resources.inktankir.com\/internal\/27467.svg\" style=\"width:80%\" alt=\"\" >\r\n                                    <\/figure>\r\n                <p>\r\n                    Our weekly deep-dive into infrastructure in Egypt.                <\/p>\r\n                <figure class=\"wp-block-image size-full mt-0 mb-0 img-white-bg\"><img decoding=\"async\" src=\"https:\/\/s3.amazonaws.com\/resources.inktankir.com\/internal\/27479.svg\" alt=\"\"><\/figure>\r\n                <p class=\"has-text-color has-link-color\">\r\n                    Published every Wednesday in EnterpriseAM.                <\/p>\r\n                <div class=\"wp-block-buttons mt-0\">\r\n                    <div class=\"wp-block-button\">\r\n                        <a class=\"wp-block-button__link has-background wp-element-button\" href=\"https:\/\/enterpriseam.com\/egypt\/hardhat\/\">\r\n                            Read Hardhat                        <\/a>\r\n                    <\/div>\r\n                <\/div>\r\n            <\/div>\r\n            <div class=\"wp-block-column issue-section\">\r\n                <div class=\"story-section\">\r\n                    <div class=\"issue-story-header text-center\">\r\n                        <div class=\"index-number\">12<\/div>\r\n    \r\n                        \r\n                        <h3 class=\"story-title\"><a href=\"https:\/\/enterpriseam.com\/egypt\/hardhats\/whats-jumia-up-to-in-egypt\/\"> \r\n                            What\u2019s Jumia up to in Egypt?<\/a>\r\n                        <\/h3>\r\n    \r\n\t\t\t\t\t\n<div class=\"cta\">\n    <div class=\"cta__btn share-dropdown-cta dropdown-toggle-btn\" style=\"position:relative\">\n        <img decoding=\"async\" src=\"https:\/\/ent.news\/internal\/408834.svg\" alt=\"\">\n        Share Story\n        <!-- Dropdown Menu -->\n        <ul class=\"share-menu\">\n            <li class=\"list-inline-item\">\n                <a href=\"https:\/\/enterpriseam.com\/egypt\/hardhats\/whats-jumia-up-to-in-egypt\/\" target=\"_blank\">\n                    Open in new tab                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/new-tab.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a href=\"#\" target=\"_blank\" onclick=\"event.preventDefault(); 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In Egypt, <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/88046d38-28ad-4bad-a352-29ce397119a9\">it\u2019s launching<\/a> its food delivery business <a href=\"https:\/\/food.jumia.com.eg\/restaurants\">Jumia Food<\/a>, and <a href=\"https:\/\/www.businesswire.com\/news\/home\/20201102005539\/en\/Jumia-Opens-Logistics-Service-to-Third-Parties\">recently announced<\/a> it\u2019s making its integrated logistics services available to third-party businesses.<\/p>\n<p><strong>We sat down (virtually) with <\/strong><strong>Thomas Maudet<\/strong><strong>, managing director of Jumia Services Egypt <\/strong>(<a href=\"https:\/\/www.linkedin.com\/in\/thomas-maudet-005b4780\/\">LinkedIn<\/a>), to discuss how Jumia\u2019s physical and tech infrastructure are helping it expand its operations and launch new services, including its new third-party service. We also look at what\u2019s spurring e-commerce growth.<\/p>\n<p><strong>Maudet also discussed the company\u2019s immediate priorities in Egypt<\/strong>, including achieving double digit growth at Jumia Food within the year, increasing last-mile delivery stations by 40% and increasing its warehouses in the Delta and Upper Egypt. <strong>Jumia is also considering an entry into pharma delivery<\/strong>, as a third step after expanding Jumia Food and adding supermarket delivery to its range of services. Edited excerpts from our conversation:<\/p>\n<p><strong>Jumia\u2019s infrastructure in Egypt:<\/strong> Jumia has roughly 70 last-mile hubs, 140 pickup stations, and 15 drop-off stations in Egypt. It has 12 warehouses: Three larger ones that will eventually be merged to centralize operations, and nine smaller ones for fast-moving items that can be rapidly dispatched for same-day delivery. Around 70% of its business is concentrated in Cairo and Giza, 10-15% in Alexandria, 10% in the Delta, and the rest in Upper Egypt, on the Red Sea and the North Coast.<\/p>\n<p><strong>Jumia is targeting 90% next-day delivery service of items in the next year,<\/strong> <strong>up from its current rate of roughly 85%<\/strong>, by building its number of warehouses and delivery capacity in the Delta. It has a freight of 1-1.5k drivers leaving the last-mile hubs. It processed several mn packages in Egypt in 2020, seeing roughly 20-25% y-o-y growth in the number of packages it processes and delivers, says Maudet.<\/p>\n<p><strong>Jumia\u2019s current activities range from logistical to financial services. <\/strong>Jumia\u2019s New Cairo sorting center can usually sort 50k+ packages per day. It has two delivery models: Direct delivery to customers; package delivery to one of 140 pickup stations \u2015 a Total gas station or Orange store, for example \u2015 for customer collection. Jumia\u2019s financial services include prepayments, wallets, and installments.<\/p>\n<p><strong>Robots still only account for a fraction of the workforce<\/strong>, with 80-90% of Jumia\u2019s operations being carried out by humans. Future investment in equipment like automatized conveyors is possible, says Maudet. Still, the bulk of Jumia\u2019s automation investment is in things like <a href=\"https:\/\/6river.com\/what-is-automated-warehouse-picking\/\">automated warehouse picking<\/a>, where AI is used to calculate the fastest routes for human warehouse workers to follow when they collect items, then displayed on the <a href=\"https:\/\/hub.acctivate.com\/articles\/mobile-picking\">mobile devices<\/a> they carry. \u201cSomeone working in a warehouse could walk 2-3 km per day retrieving items. We want to calculate the fastest path for them, to make their time in the warehouse aisles most efficient,\u201d he says.<\/p>\n<p><strong>E-commerce boomed in 2020 due to the pandemic: <\/strong>E-business was growing pre-covid, but the pandemic accelerated it, says Maudet. Jumia itself is seeing 30% y-o-y growth overall, he notes. Not even traffic congestion or IT instability impeded operations during the covid e-commerce boom, says Maudet. \u201cCongestion usually operates in our favor. Clients prefer ordering from an e-commerce company to braving the traffic.\u201d Occasional network coverage disruptions don\u2019t really impact operations, he adds.<\/p>\n<p><strong>Growth is driving Jumia\u2019s new service for third-party businesses:<\/strong> As sales in stores greatly decreased during the covid curfew period, many sellers launched their own websites, or started selling through generic platforms like <a href=\"https:\/\/www.shopify.com\/free-trial?&term=shopify&Network=Search&SiteTarget=&mt=e&adid=280147640123&adpos=&CampaignId=1045716904&branded_enterprise=1&BOID=brand&gclid=CjwKCAjwmv-DBhAMEiwA7xYrd38c3nrB_2ZEt1JMMQBrkctgJIp1EoVFtxRiiHj8TYwb4HF_9QLHTBoCVAgQAvD_BwE&gclsrc=aw.ds\">Shopify<\/a>. By providing services to third-party businesses, Jumia can profit from their shift online, rather than competing. \u201cWe see no need to compete with other platforms except direct competitors, like other e-commerce platforms. We don\u2019t consider the brands we sell on Jumia to be competitors, even if they open their own websites.\u201d<\/p>\n<p><strong>These businesses have access to Jumia\u2019s fast infrastructure:<\/strong> Clients have Jumia warehouse space and a logistics team taking care of their inventory, comprising:<\/p>\n<ul>\n<li>Boxed items for offline stores, which Jumia restocks daily.<\/li>\n<li>Items sold online, on the third-party company\u2019s website, with orders received, packaged and dispatched by Jumia.<\/li>\n<li>Items sold online, on Jumia\u2019s website.<\/li>\n<\/ul>\n<p><strong>And Jumia\u2019s developing new AI-based services, to meet the particular delivery needs of prospective or existing third-party clients: <\/strong>\u201cIn Egypt, we\u2019re in touch with Etisalat and ADIB bank, which would both need us to offer extra security steps \u2014 like checking IDs and collecting signatures \u2014 to comply with their delivery protocols. And we\u2019re designing a service for tobacco manufacturers <a href=\"https:\/\/www.pmi.com\/\">Philip Morris<\/a>, to ensure customers receiving their items are over 18.\u201d<\/p>\n<p><strong>So what are Jumia\u2019s ambitions for Egypt?<\/strong> For starters, increasing its total number of pickup stations to 200 within two months. \u201cWe want to increase our last-mile delivery stations by 40%, including the pickup stations,\u201d says Maudet. It\u2019s growing its number of warehouses in the Delta and Upper Egypt, aiming to continually improve lead time, he says. \u201cWe can manage next-day delivery in Cairo, Giza, Alexandria and 50-60% of the Delta. To really reduce the lead time, we must use smaller, centrally-located warehouses with less storage capacity but faster delivery.\u201d<\/p>\n<p><strong>Pharma could also be coming up: <\/strong>Pharma items are essentials, so this is an area Jumia\u2019s considering entering to meet customer needs \u2014 for products sold without a prescription, for example. \u201cIt\u2019s something in the pipeline we\u2019re exploring,\u201d says Maudet.<\/p>\n<p><strong>But this would be a possible third step, after food and supermarket delivery.<\/strong> The Jumia app will allow customers to order essential items within a 2-3 km radius, to be delivered within 30 minutes. Jumia Food \u2014 which launched in Egypt six months ago \u2014 is the first step, with some 70 brands on board. Supermarkets will be next: Jumia could quickly launch a service delivering supermarket items within 30-45 minutes \u2014 either using its own stock or stock belonging to well-established brands in Egypt, says Maudet.<\/p>\n<p><strong>Expanding Jumia Food is the immediate priority: <\/strong>Jumia Food is due to expand in Cairo and Alexandria, says Maudet. \u201cWe\u2019re aiming at double digit growth in the next year.\u201d<\/p>\n<p><strong>How? By scaling up logistics and tech infrastructure:<\/strong> Few substantial infrastructure changes are needed to expand Jumia Food\u2019s capacity, because the service is tech-based, says Maudet. Growing in Egypt means hiring more riders, and improving tech features, like optimizing delivery routes by refining algorithms, says Maudet.<\/p>\n<p><strong>But isn\u2019t Egypt\u2019s food delivery market already saturated? Not after two big players were edged out last year: <\/strong>Uber Eats and Glovo have left Egypt, offering Jumia a chance to capitalize on the market gap, says Maudet. \u201cWe saw two pure players exit Egypt during covid, so we decided to enter.\u201d<\/p>\n<p><strong>How could the gov\u2019t smooth the way for more business? Ease customs regulations: <\/strong>Customs regulations can make importing items from abroad a challenge. Ideally, the government would make it easier to import high-demand items, says Maudet. \u201cThis would open up new routes.\u201d<\/p>\n<p><strong>Your top infrastructure stories for the week:<\/strong><\/p>\n<ul>\n<li><strong>Railcar manufacturing:<\/strong> South Korea\u2019s Hyundai Rotem will partner with the National Egyptian Railway Industries Company (NERIC) to produce railcars in Egypt after the two <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/1a3b99d8-b931-4dac-a35c-96a82d0d3b0a\">signed an MoU<\/a> last week.<\/li>\n<li><strong>The Giza Pyramids development project:<\/strong> A consortium of companies led by Hassan Allam Holding (HAH) will provide and run services at the Grand Egyptian Museum <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/b32fd785-2bee-4af4-93a1-049e2091f41e\">under an agreement<\/a> signed with the Tourism Ministry last week.<\/li>\n<li><strong>Good news for factories: <\/strong>The Finance Ministry will fix electricity and gas prices for the industry for the next three years, which would cost the state coffers EGP 10 bn, Minister Mohamed Maait <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/580f8810-8bc1-48f5-b2f7-fca827a1f95a\">said<\/a>.<\/li>\n<li><strong>Arrest following yet another rail accident:<\/strong> Egypt\u2019s Public Prosecution has <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/213076e5-39b0-4bb2-9752-97fc4e66962f\">ordered<\/a> a railway technician to be detained for four days after a train collided with a pick-up truck in Suez\u2019s Al Amer village, marking the fourth fatal accident on Egypt\u2019s rail network in just a month.<\/li>\n<\/ul>\n\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/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\/alibaba\/\">Alibaba<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/amazon\/\">Amazon<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\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\/etisalat\/\">Etisalat<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/infrastructure\/\">infrastructure<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/jumia\/\">Jumia<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/jumia-food\/\">Jumia Food<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/noon\/\">Noon<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/souk\/\">Souk<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/talabat\/\">Talabat<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/thomas-maudet\/\">Thomas Maudet<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/uber-eats\/\">Uber Eats<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/yalla-fel-sekka\/\">Yalla Fel Sekka<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                    <\/div>\n    <\/div>\n                    <\/div>\r\n                <\/div>\r\n            <\/div>\r\n            <div class=\"wp-block-column\" style=\"flex-basis:19.8%\"><\/div>\r\n        <\/div>\r\n    <\/div>\r\n<\/div>\n<section id=\"562075\" 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\/05\/05\/your-essential-business-calendar-on-5-may-2021\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-562075\" class=\"content-area-description single-story post-562075 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>13-15 May (Thursday-Saturday): Eid El Fitr (TBC).<\/p>\n<p>16-19 May (Sunday-Wednesday): The Arabian Travel Market (ATM) takes place in Dubai.<\/p>\n<p>27-29 May (Thursday-Saturday): Informa Markets\u2019 <a href=\"https:\/\/www.nextmoveegypt.com\/en\/Forms\/Book-A-Stand.html\">Nextmove<\/a> real estate exhibition, Cairo International Convention Center, Nasr City.<\/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): Egypt Petroleum Show, 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 (Turnkey Expo), 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): The Big 5 Construct Egypt, 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>July + August: Thanaweya Amma exams take place.<\/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 will suffer a host of penalties, including removal from large taxpayer classification, losing access to government services and business, and losing subsidies.<\/p>\n<p>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>17-20 August (Tuesday-Friday): The World Economic Forum annual meeting, Singapore.<\/p>\n<p>12-15 September (Sunday-Wednesday): Sahara Expo: the 33rd International Agricultural Exhibition for Africa and the Middle East.<\/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): Egypt Projects 2021 expo, Egypt International Exhibition Center, Cairo, Egypt.<\/p>\n<p>30 September-8 October (Thursday-Friday): The 54th session of the Cairo International Fair, Cairo International Conference Center, Cairo, Egypt.<\/p>\n<p>1 October (Friday): Expo 2020 Dubai 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>12-14 October (Tuesday-Thursday) Mediterranean Offshore Conference, Alexandria, Egypt<\/p>\n<p>18 October (Monday): Prophet\u2019s Birthday.<\/p>\n<p>21 October (Thursday): National holiday in observance of the Prophet\u2019s Birthday.<\/p>\n<p>28 October (Thursday): The CBE\u2019s Monetary Policy Committee will meet to review interest rates.<\/p>\n<p>1-3 November (Monday-Wednesday): Egypt Energy exhibition on power and renewable energy, Egypt International Exhibition Center, Cairo, Egypt<\/p>\n<p>1-12 November (Monday-Friday): 2021 United Nations Climate Change Conference (COP26), Glasgow, United Kingdom.<\/p>\n<p>29 November-2 December (Monday-Thursday): Egypt Defense Expo<\/p>\n<p>13-17 December: United Nations Convention against Corruption, 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>May 2022: Investment in Logistics Conference, Cairo, Egypt.<\/p>\n<p>27 June-3 July 2022 (Monday-Sunday): World University Squash Championships, New Giza.<\/p>\n<p><strong>**Note to readers:<\/strong> Some national holidays may appear twice above. Since 2020, Egypt has observed most mid-week holidays on Thursdays regardless of the day on which they fall and may also move those days to Sundays. We distinguish below between the actual holiday and its observance.<\/p>\n\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":562051,"menu_order":0,"template":"","categories":[],"tags":[],"class_list":["post-562050","issue","type-issue","status-publish","has-post-thumbnail","hentry","wpautop","entry"],"acf":{"mongo_id":"9d5dc294-0557-43f4-a9ae-53d189f8b76d","teaser":"","photo_url":"https:\/\/ent.news\/2021\/5\/35.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>Is Egypt going to build two massive petrochem complexes in Ain Sokhna? - 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\/is-egypt-going-to-build-two-massive-petrochem-complexes-in-ain-sokhna\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Is Egypt going to build two massive petrochem complexes in Ain Sokhna?\" \/>\n<meta property=\"og:url\" content=\"https:\/\/enterpriseam.com\/egypt\/issues\/is-egypt-going-to-build-two-massive-petrochem-complexes-in-ain-sokhna\/\" \/>\n<meta property=\"og:site_name\" content=\"EnterpriseAM Egypt\" \/>\n<meta property=\"article:modified_time\" content=\"2025-12-16T03:33:34+00:00\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:image\" content=\"https:\/\/i0.wp.com\/ent.news\/2021\/5\/35.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\/is-egypt-going-to-build-two-massive-petrochem-complexes-in-ain-sokhna\/\",\"url\":\"https:\/\/enterpriseam.com\/egypt\/issues\/is-egypt-going-to-build-two-massive-petrochem-complexes-in-ain-sokhna\/\",\"name\":\"Is Egypt going to build two massive petrochem complexes in Ain Sokhna? 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