{"id":576860,"date":"2022-11-01T04:00:05","date_gmt":"2022-11-01T04:00:05","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/?post_type=issue&#038;p=576860"},"modified":"2025-12-16T11:02:33","modified_gmt":"2025-12-16T11:02:33","slug":"imf-gives-us-kudos-for-deval-as-egp-appears-to-be-hitting-the-bottom-against-the-greenback","status":"publish","type":"issue","link":"https:\/\/enterpriseam.com\/egypt\/issues\/imf-gives-us-kudos-for-deval-as-egp-appears-to-be-hitting-the-bottom-against-the-greenback\/","title":{"rendered":"IMF gives us kudos for deval as EGP appears to be hitting the bottom against the greenback"},"content":{"rendered":"<section id=\"576862\" 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=\"576862\">\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\/2022\/11\/01\/this-morning-imf-gives-egypt-kudos-for-devaluation-as-egp-appears-to-bottom-out-against-the-greenback\/\">\r\n                            THIS MORNING: IMF gives Egypt kudos for devaluation as EGP appears to bottom out against the greenback                        <\/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\/2022\/11\/01\/this-morning-imf-gives-egypt-kudos-for-devaluation-as-egp-appears-to-bottom-out-against-the-greenback\/\" 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\/2022\/11\/01\/this-morning-imf-gives-egypt-kudos-for-devaluation-as-egp-appears-to-bottom-out-against-the-greenback\/')\">\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\/2022\/11\/01\/this-morning-imf-gives-egypt-kudos-for-devaluation-as-egp-appears-to-bottom-out-against-the-greenback\/\">\n                    Facebook                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/facebook-icon2.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a target=\"_blank\" href=\"https:\/\/x.com\/intent\/post?text=THIS MORNING: IMF gives Egypt kudos for devaluation as EGP appears to bottom out against the greenback&url=https:\/\/enterpriseam.com\/egypt\/2022\/11\/01\/this-morning-imf-gives-egypt-kudos-for-devaluation-as-egp-appears-to-bottom-out-against-the-greenback\/\">\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\/2022\/11\/01\/this-morning-imf-gives-egypt-kudos-for-devaluation-as-egp-appears-to-bottom-out-against-the-greenback\/&title=THIS MORNING: IMF gives Egypt kudos for devaluation as EGP appears to bottom out against the greenback\">\n                    LinkedIn                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/linkedin-icon.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a href=\"https:\/\/api.whatsapp.com\/send?text=THIS+MORNING%3A+IMF+gives+Egypt+kudos+for+devaluation+as+EGP+appears+to+bottom+out+against+the+greenback+https%3A%2F%2Fenterpriseam.com%2Fegypt%2F2022%2F11%2F01%2Fthis-morning-imf-gives-egypt-kudos-for-devaluation-as-egp-appears-to-bottom-out-against-the-greenback%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\/2022\/11\/01\/this-morning-imf-gives-egypt-kudos-for-devaluation-as-egp-appears-to-bottom-out-against-the-greenback\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-576862\" class=\"content-area-description single-story post-576862 post type-post status-publish format-standard hentry category-what-were-tracking-today tag-central-bank-of-egypt tag-economy tag-enterpriseam tag-gdp tag-imf tag-inflation tag-interest-rates tag-unicef-childrens-climate-risk-index tag-what-were-tracking-today wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<aside>\t\t\t<div\r\n\t\t\t\t\t\t\t\tclass=\"newspack-popup-container newspack-popup hidden  newspack-inline-popup  newspack-lightbox-no-border   \"\r\n\t\t\t\trole=\"button\"\r\n\t\t\t\ttabindex=\"0\"\r\n\t\t\t\tstyle=\"background-color:#FFFFFF;color:#000\"\r\n\t\t\t\tid=\"id_27645\"\r\n\t\t\t\tdata-segments=\"\"\r\n\t\t\t\tdata-frequency=\"0,0,0,month\"\r\n\t\t\t>\r\n\t\t\t\t\n<div class=\"wp-block-group has-light-gray-background-color has-background\" style=\"padding-top:0px;padding-right:0px;padding-bottom:0px;padding-left:0px\"><div class=\"wp-block-group__inner-container is-layout-constrained wp-container-core-group-is-layout-ef38739e wp-block-group-is-layout-constrained\">\n<div class=\"wp-block-group is-content-justification-center is-nowrap is-layout-flex wp-container-core-group-is-layout-94bc23d7 wp-block-group-is-layout-flex\">\n<p class=\"f-graphik\" style=\"font-size:14px\">Together with<\/p>\n\n\n<div class=\"wp-block-image\">\n<figure class=\"aligncenter size-full\"><img decoding=\"async\" src=\"https:\/\/s3.amazonaws.com\/resources.inktankir.com\/internal\/27482.svg\" alt=\"\" class=\"wp-image-27482\"\/><\/figure>\n<\/div><\/div>\n<\/div><\/div>\n\t\t\t<\/div>\r\n\t\t<\/aside>\n<p><strong>Good morning, friends, and welcome to the first day of November. <\/strong>We feel we ask this every year, but: Where the hell has 2022 gone? The Colonel was right: Time accelerates as you age.<\/p><p><strong>We\u2019re really looking forward to having breakfast this morning with 20 bold-name CEOs <\/strong>to discuss our <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/edition\/am\/feeda831-c0fd-43df-b197-08ddb74254e7\">focused, five-point plan to build a new Egyptian economy<\/a> that is export-led and can turn us into a magnet for foreign direct investment. We\u2019ll be talking lots more about this once we get over the hump of COP27, which is going to keep all of us very busy in the couple of weeks to come.<\/p><p><strong>Also this morning: We\u2019ve got the results of our Enterprise Reader Poll on your appetite <\/strong><strong>for electric vehicles <\/strong>(EVs), where we found one in five of you intend to buy an electric car in the next 12 months. Check out this morning\u2019s Going Green, below.<\/p><p><a class=\"content-anchor\" id=\"tldr-story-01\"><\/a> <strong>THE BIG STORY THIS MORNING- IMF gives Egypt kudos for deval + rate <\/strong><strong>hike as it looks like the EGP is bottoming out: <\/strong>The IMF\u2019s Middle East and Central Asia boss has praised the Central Bank of Egypt\u2019s (CBE) policy moves last week, saying that the shift to a flexible exchange rate will protect the economy against external shocks and calling the decision to raise interest rates a \u201cstep in the right direction,\u201d <a href=\"https:\/\/www.reuters.com\/business\/finance\/egypt-interest-rate-hike-step-right-direction-imf-official-says-2022-10-31\/\">Reuters<\/a> reports. (We join them in cheering the deval \u2014 but <a href=\"https:\/\/enterprise.press\/afternoons\/pm-taweem-3-0-sees-egp-at-23-03-against-the-greenback\/#tldr-story-11\">still can\u2019t get behind the rate hike<\/a>.)<\/p><p><strong>Rewind:<\/strong> The IMF and Egyptian authorities <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/60dc5b0c-8c51-4c61-aa04-54e46a86a7c6\">announced a staff-level agreement<\/a> on a USD 3 bn loan program on Thursday, just hours after the CBE <a href=\"https:\/\/enterprise.press\/afternoons\/pm-taweem-3-0-sees-egp-at-23-03-against-the-greenback\/#tldr-story-04\">went ahead with<\/a> a series of measures aimed at restoring liquidity to the FX market. These measures include moving to a \u201cdurably flexible foreign exchange rate regime\u201d that allows market forces to determine the value of the EGP \u2014 a key condition from the IMF ahead of the assistance package \u2014 and hiking interest rates by 200 bps. The move triggered a devaluation of the currency that has seen it fall more than 22% over the past three days.<\/p><p><strong>What the IMF said:<\/strong> A flexible exchange rate \u201cwill help the Egyptian economy to be protected from term-of-trade shocks as well as external shocks, especially at a time when global financial conditions have tightened and became more challenging,\u201d Jihad Azour told the newswire. \u201cThe measures that the central bank took last week in hiking interest rates \u2026 go in the right direction. It's very important to control inflation.\u201d<\/p><p><a class=\"content-anchor\" id=\"tldr-story-02\"><\/a> <strong>EGP WATCH- The EGP moved fractionally lower against the greenback ye<\/strong><strong>sterday<\/strong>, edging down a very slight 0.2% to 24.1875, according to central bank figures. The currency has now fallen 22.4% since the central bank\u2019s decision to move to a flexible exchange rate on Thursday, and is down 53.3% since the CBE first devalued the currency on 21 March.<\/p><p><strong>In fact, we may have (very slightly) overshot: JP Morgan thinks the EGP will be at 23.50 to the USD at year\u2019s end<\/strong>, and Enterprise readers earlier this fall told us last month they were using (on average) 22.12 in their 2023 budgets. Deutsche Bank is the most bearish on the EGP that we know of right now, and it\u2019s penciling in 25.00 to the greenback by year\u2019s end.<\/p><p><strong>Here\u2019s another company that\u2019s going to have a rough time with the float:<\/strong> Suez Cement expects to suffer around EGP 800 mn in FX losses on the back of the devaluation, CEO Mohamed Hegazy told <a href=\"https:\/\/www.asharqbusiness.com\/article\/43528\">Bloomberg Asharq<\/a> yesterday. The company, like others in the sector, is reliant on imported coal to power its factories, and also imports many of its components and spare parts. Hegazy\u2019s statements came a day after Ezz Steel <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/97cbff39-d576-49bc-a06b-1d868a370e03\">warned<\/a> it could lose EGP 2.2 bn due to the weaker EGP.<\/p><p><strong>MEANWHILE- Some legit relief for food manufacturers?<\/strong> Authorities will begin releasing today some of the food manufacturing inputs that have been piling up at ports because of restrictions on import finance, the Supply Ministry was quoted as saying in a statement by state TV (<a href=\"https:\/\/www.youtube.com\/watch?v=1g1MQINr9f4\">watch, runtime: 0:18<\/a>). The ministry said all inputs would be released from ports by the end of this week to allow factories to resume production.<\/p><p><strong>A quid pro quo? <\/strong>The decision was taken following <a href=\"https:\/\/bit.ly\/3DPf3a7\">a meeting<\/a> between Supply Minister Ali El Moselhy and food producers. During the meeting the minister implored companies not to raise prices in response to the float.<\/p><p><strong>PSA- But there\u2019s no interest rate meeting this Thursday:<\/strong> The Central Bank of Egypt\u2019s (CBE) won\u2019t hold its scheduled policy meeting on Thursday in light of last week\u2019s special meeting when it <a href=\"https:\/\/enterprise.press\/afternoons\/pm-taweem-3-0-sees-egp-at-23-03-against-the-greenback\/\">hiked interest rates by 200 bps<\/a> in tandem with the EGP float, it said in a <a href=\"https:\/\/ent.news\/2022\/10\/CBE-EN-PRl-The-MPC-meeting-scheduled-for-November-32022-has-been-cancelled.pdf\">statement (<\/a><a href=\"https:\/\/ent.news\/2022\/10\/CBE-EN-PRl-The-MPC-meeting-scheduled-for-November-32022-has-been-cancelled.pdf\">pdf<\/a><a href=\"https:\/\/ent.news\/2022\/10\/CBE-EN-PRl-The-MPC-meeting-scheduled-for-November-32022-has-been-cancelled.pdf\">)<\/a> yesterday. This means that the Monetary Policy Committee will next meet on 22 December in what will be the final meeting of the year.<\/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>HAPPENING TODAY-<\/strong><\/p><p><strong>November has come:<\/strong> Here are the key news triggers coming up this week and the next.<\/p><ul>\n<li><strong>PMI:<\/strong> We\u2019ll know how Egypt\u2019s private sector fared in October tomorrow when S&amp;P Global releases the purchasing managers\u2019 index. A 22-month contraction in private sector activity didn\u2019t show signs of abating in September as high inflation continued to weigh on demand and output.<\/li>\n<li><strong>Foreign reserves figures<\/strong> for October will be released next week.<\/li>\n<li><strong>Inflation:<\/strong> Capmas and the central bank will release October\u2019s inflation figures on Thursday, 10 November.<\/li>\n<\/ul><p><a class=\"content-anchor\" id=\"tldr-story-08\"><\/a> <strong>The two-day <\/strong><strong><a href=\"https:\/\/www.arabsummit2022.dz\/\">Arab League summit<\/a><\/strong><strong> starts today in Algiers:<\/strong> President Abdel Fattah El Sisi will be among the attendees at the regional summit, which will be the first since the start of the covid-19 pandemic two years ago. This year\u2019s gathering takes place amid a diplomatic spat between Algeria and Morocco which has resulted in Morocco\u2019s King Mohamed VI declining an invitation to attend and <a href=\"https:\/\/bit.ly\/3zwcIOF\">arguments break out<\/a> among diplomats in a pre-summit meeting. Among the other notable absences: <a href=\"https:\/\/www.reuters.com\/world\/middle-east\/saudi-crown-prince-wont-attend-arab-summit-algeria-due-doctors-advice-2022-10-23\/\">Saudi Crown Prince Mohamed bin Salman<\/a>, who is reportedly not attending for medical reasons, UAE President Mohamed bin Zayed, Kuwait's Emir Nawaf Al Ahmad Al Sabah and Jordan\u2019s <a href=\"https:\/\/www.thenationalnews.com\/mena\/jordan\/2022\/10\/30\/jordans-crown-prince-to-attend-arab-league-summit\/\">King Abdullah II<\/a>.<\/p><p><strong>It\u2019s the final day of <\/strong><strong><a href=\"https:\/\/www.egypt-energy.com\/en\/home.html\">Egypt Energy<\/a><\/strong><strong>:<\/strong> The three-day energy conference brings together policymakers and business leaders from the regional energy sector to discuss topics including power generation, clean energy, and PPP and foreign investment. The event is taking place at the Egypt International Exhibition Center.<\/p><p><strong>DATA POINT- <\/strong><\/p><p><a class=\"content-anchor\" id=\"tldr-story-05\"><\/a> <strong>Egypt wants to raise gas export revenues to USD 12 bn this year<\/strong> \u201cif [gas] prices remain elevated,\u201d Oil Minister Tarek El Molla told <a href=\"https:\/\/bit.ly\/3TUdPjm\">Sky News Arabia<\/a> and CNBC Arabia (<a href=\"https:\/\/www.cnbcarabia.com\/102768\/2022\/10\/31\/%D9%88%D8%B2%D9%8A%D8%B1-%D8%A7%D9%84%D8%A8%D8%AA%D8%B1%D9%88%D9%84-%D8%A7%D9%84%D9%85%D8%B5%D8%B1%D9%8A-%D9%84%D9%80-CNBC-%D8%B9%D8%B1%D8%A8%D9%8A%D8%A9:-%D9%86%D8%B3%D8%AA%D9%87%D8%AF%D9%81-%D8%B1%D9%81%D8%B9-%D8%AD%D8%AC%D9%85-%D8%B5%D8%A7%D8%AF%D8%B1%D8%A7%D8%AA-%D8%A7%D9%84%D8%BA%D8%A7%D8%B2-%D8%A5%D9%84%D9%89-12-%D9%85%D9%84%D9%8A%D8%A7%D8%B1-%D8%AF%D9%88%D9%84%D8%A7%D8%B1-%D9%87%D8%B0%D8%A7-%D8%A7%D9%84%D8%B9%D8%A7%D9%85\">watch, runtime: 7:46<\/a>) in interviews yesterday. Export revenues reached USD 7-8 bn in 2021, El Molla said, speaking on the sidelines of the Adipec expo in Abu Dhabi. The ministry expects export volumes to reach 8 mn tons this year, he said.<\/p><p><strong>That\u2019s nothing on where Qatar wants to be by the end of this decade:<\/strong> Qatar is planning to raise LNG output capacity by 60% by 2030, allowing it to export 126 mn tons of gas a year. \u201cI think we will be one of the largest, if not the largest, LNG trader in the world,\u201d energy minister and QatarEnergy CEO Saad Al Kaabi told <a href=\"https:\/\/www.bloomberg.com\/news\/articles\/2022-10-31\/qatar-aims-to-become-the-world-s-top-lng-trader-says-minister?srnd=premium-middle-east&amp;leadSource=uverify%20wall#xj4y7vzkg\">Bloomberg<\/a> yesterday.<\/p><p><strong>IN THE HOUSE TODAY-<\/strong><\/p><p><strong>The November bonus:<\/strong> MPs will take a final vote on the government\u2019s decision to pay <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/3f8e5c9a-90ae-4625-b029-17645be14c8e\">a one-off<\/a><a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/3f8e5c9a-90ae-4625-b029-17645be14c8e\">EGP 300 bonus<\/a> to public-sector workers and pensioners this month to mitigate the impact of the EGP float. The House Manpower Committee <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/ddca62b3-07a3-48e2-b026-0e49792dffb3\">approved the move<\/a> on Sunday.<\/p><p><strong>Simplifying property registration in new cities:<\/strong> The House is also expected to give the thumbs up to amendments that would simplify the real estate registry and notarization process in new urban communities. \u201cCitizens living in new housing communities have long complained of facing many obstacles standing in their way registering their property units or owned plots of land in real estate notarization offices,\u201d the House legislative and housing committees wrote in a recent report. The bill will \u201chelp eliminate such obstacles, simplify notarization procedures, and also stimulate private investments,\u201d they wrote.<\/p><p><strong>FYI- The Senate is taking a two-week break due to COP27<\/strong> and will reconvene on Sunday, 13 November.<\/p><p><strong>COUNTDOWN TO COP (5 days to go)- <\/strong><\/p><p><strong>Egypt and Iran scored the worst in the region for children\u2019s exposure to climate <\/strong><strong>and environmental shocks<\/strong>, according to the <a href=\"https:\/\/ent.news\/2022\/10\/CCRI-Childrens-Climate-Risk-Index-Egypt-Report-2022-English.pdf\">Unicef Children\u2019s Climate Risk Index<\/a>, which looks at climate risk to children in the MENA region with a special focus on Egypt as this year\u2019s COP host. Our overall score of 7.3 out of 10 means Egyptian children are at \u201cextremely high risk,\u201d with some 5.3 mn children exposed to heatwaves after temperatures rose 0.53 degree Celsius on average every ten years over the past 30 years. Children in Iraq, Morocco, Yemen, and Sudan were the next most exposed to climate risk.<\/p><p><strong>The world\u2019s most famous climate activist is passing on coming to COP:<\/strong> Swedish activist Greta Thunberg said she will not attend the COP27 summit, criticizing the event for \u201cgreenwashing\u201d and criticizing our human right record. \u201cI\u2019m not going to COP27 for many reasons, but the space for civil society this year is extremely limited,\u201d she said during a book signing on Sunday. \u201cThe COPs are mainly used as an opportunity for leaders and people in power to get attention, using many different kinds of greenwashing.\u201d<\/p><p><strong>The story is leading the conversation on Egypt and the COP27 summit:<\/strong> <a href=\"https:\/\/www.reuters.com\/business\/environment\/greta-thunberg-cop27-an-opportunity-greenwashing-lying-cheating-2022-10-30\/\">Reuters<\/a> | <a href=\"https:\/\/www.france24.com\/en\/environment\/20221031-greta-thunberg-to-eschew-cop27-in-egypt-saying-summit-is-greenwashing\">AFP<\/a> | <a href=\"https:\/\/www.washingtonpost.com\/climate-environment\/2022\/10\/31\/why-greta-thunberg-is-shunning-un-climate-conference-this-year\/\">Washington Post<\/a> | <a href=\"https:\/\/www.theguardian.com\/environment\/2022\/oct\/31\/greta-thunberg-to-skip-greenwashing-cop27-climate-summit-in-egypt\">The Guardian<\/a> | <a href=\"https:\/\/fortune.com\/2022\/10\/31\/greta-thunberg-blasts-attention-seeking-cop27-leaders\/\">Fortune<\/a> | <a href=\"https:\/\/www.independent.co.uk\/independentpremium\/world\/greta-thunberg-cop27-egypt-b2214497.html\">Independent<\/a>.<\/p><p><strong>The young activist has also joined the international campaign to secure the release of <\/strong><strong>activist Alaa Abdel Fattah:<\/strong> Thunberg joined Abdel Fattah\u2019s sister Sanaa Seif and other protesters outside Whitehall on Sunday, according to <a href=\"https:\/\/www.thetimes.co.uk\/article\/climate-campaigner-greta-thunberg-pleads-for-blogger-alaa-abd-el-fattahs-freedom-tr5x6w0hg\">the Times<\/a>.<\/p><p><strong>C<\/strong><strong>onservation group Greenpeace held a boat tour<\/strong> in Hurghada to promote sustainable brands and start a dialogue with local communities in the lead-up to the summit, it said in a <a href=\"https:\/\/ent.news\/2022\/10\/Final-Press-Release-Eng.docx_3.pdf\">press release (pdf)<\/a>.<\/p><p class=\"web-image\"><img data-recalc-dims=\"1\" decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2021\/3\/INFINITY-Top-banner-EN-1600x675-v2-02.png?ssl=1\" alt=\"enterprise\"><\/p><p><strong>*** It\u2019s Going Green day \u2014 your weekly briefing of all things green in Egypt:<\/strong> Enterprise\u2019s green economy vertical focuses each Tuesday on the business of renewable energy and sustainable practices in Egypt, everything from solar and wind energy through to water, waste management, sustainable building practices and how you can make your business greener, whatever the sector.<\/p><p><strong>In today\u2019s issue: <\/strong>The results of the Enterprise EV Survey.<\/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\/central-bank-of-egypt\/\">Central Bank of Egypt<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/economy\/\">economy<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/gdp\/\">GDP<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/imf\/\">IMF<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <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\/interest-rates\/\">interest rates<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/unicef-childrens-climate-risk-index\/\">UNICEF Children\u2019s Climate Risk Index<\/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=\"576863\" 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=\"576863\">\r\n            \r\n            <div class=\"story__body\">\r\n\r\n                <a href=\"https:\/\/enterpriseam.com\/egypt\/2022\/11\/01\/576863\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-576863\" class=\"content-area-description single-story post-576863 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.ticketsmarche.com\/tickets\/buy-tickets-2-cellos.html\"><img data-recalc-dims=\"1\" decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2022\/10\/2cellos2_1600px.jpg?ssl=1\" alt=\"enterprise\"><\/a><\/p>\n<p><strong>2CELLOS \u2014 LIVE AT SOMABAY on 18 November, 2022:<\/strong> Mark your calendars \u2014 world-renowned and wildly popular cellist duo, 2CELLOS will be performing at Somabay on 18 November, 2022. Having racked up a bn-plus audio streams, countless sold-out concerts, and mns of fans across the globe in their 10 years together as 2CELLOS, the Croatian duo of Luka \u0160uli\u0107 and HAUSER will be visiting Egypt in their long-awaited 2022 Dedicated World Tour. Book your ticket now: <a href=\"https:\/\/www.ticketsmarche.com\/tickets\/buy-tickets-2-cellos.html\">https:\/\/www.ticketsmarche.com\/tickets\/buy-tickets-2-cellos.html<\/a>. Call us 16390.<\/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=\"576864\" 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=\"576864\">\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\">DEBT WATCH<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2022\/11\/01\/were-borrowing-usd-2-bn-for-food-security-from-the-uns-agriculture-fund\/\">\r\n                            We\u2019re borrowing USD 2 bn for food security from the UN\u2019s agriculture fund                        <\/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\/2022\/11\/01\/were-borrowing-usd-2-bn-for-food-security-from-the-uns-agriculture-fund\/\" 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\/2022\/11\/01\/were-borrowing-usd-2-bn-for-food-security-from-the-uns-agriculture-fund\/')\">\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\/2022\/11\/01\/were-borrowing-usd-2-bn-for-food-security-from-the-uns-agriculture-fund\/\">\n                    Facebook                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/facebook-icon2.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a target=\"_blank\" href=\"https:\/\/x.com\/intent\/post?text=We\u2019re borrowing USD 2 bn for food security from the UN\u2019s agriculture fund&url=https:\/\/enterpriseam.com\/egypt\/2022\/11\/01\/were-borrowing-usd-2-bn-for-food-security-from-the-uns-agriculture-fund\/\">\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\/2022\/11\/01\/were-borrowing-usd-2-bn-for-food-security-from-the-uns-agriculture-fund\/&title=We\u2019re borrowing USD 2 bn for food security from the UN\u2019s agriculture fund\">\n                    LinkedIn                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/linkedin-icon.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a href=\"https:\/\/api.whatsapp.com\/send?text=We%E2%80%99re+borrowing+USD+2+bn+for+food+security+from+the+UN%E2%80%99s+agriculture+fund+https%3A%2F%2Fenterpriseam.com%2Fegypt%2F2022%2F11%2F01%2Fwere-borrowing-usd-2-bn-for-food-security-from-the-uns-agriculture-fund%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\/2022\/11\/01\/were-borrowing-usd-2-bn-for-food-security-from-the-uns-agriculture-fund\/\">\r\n                    <div class=\"photo photo--above\">\r\n                        <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2022\/11\/38.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"576865\" data-permalink=\"https:\/\/enterpriseam.com\/egypt\/2022\/11\/01\/were-borrowing-usd-2-bn-for-food-security-from-the-uns-agriculture-fund\/38-jpg-12\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2022\/11\/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\/2022\/11\/38.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2022\/11\/38.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-576864\" class=\"content-area-description single-story post-576864 post type-post status-publish format-standard has-post-thumbnail hentry category-debt-watch tag-agriculture tag-debt-watch tag-development-finance tag-enterpriseam tag-food-security tag-nwfe tag-un 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> Egypt is getting a USD 2 bn loan from the UN\u2019s International Fund for Agricultural <\/strong><strong>Development (IFAD) <\/strong>and unnamed \u201cpartner organizations\u201d to support small scale rural-farmers, <a href=\"https:\/\/www.bloomberg.com\/news\/articles\/2022-10-31\/egypt-will-get-2-billion-from-ifad-to-boost-its-food-security?leadSource=uverify%20wall\">Bloomberg<\/a> reports.<\/p>\n<p><strong>Where the money\u2019s going: <\/strong>The loan will be extended to the government until 2030 for \u201cproduction, food storage and food transportation,\u201d and to \u201clink markets with smallholder\u201d farmers, IFAD President Alvaro Lario told Bloomberg.<\/p>\n<p><strong>This is part of NWFE: <\/strong>The financing is part of the country\u2019s Nexus of Water, Food and Energy (NWFE) program, for which IFAD is heading up the food component. The European Bank for Reconstruction and Development (EBRD) is <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/2f4e39aa-cc0c-47b2-9efc-8038ed58a493\">taking the lead on the energy component<\/a> of the program while the African Development Bank will oversee financing for water projects.<\/p>\n<p><strong>Stay tuned: <\/strong>The government should announce details at COP27 next week on the <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/a7a32b72-28b0-4b59-ada4-93a3b31b636a\">NWFE<\/a> program, through which the International Cooperation Ministry will promote its pipeline of low-carbon projects to investors.<\/p>\n<p><strong>REMEMBER- Food security has become a pressing issue <\/strong>since Russia\u2019s invasion of Ukraine sent global food prices spiraling, highlighting the precarity of food supply chains for import-reliant countries like Egypt. We are the world\u2019s biggest importer of wheat and sourced more than 80% of our grain imports from Russia and Ukraine before the conflict broke out in February. Grain prices had cooled over the summer thanks to the UN-brokered Black Sea pact allowing shipments to exit Ukrainian ports \u2014 but pressures could return after Russia this week called off the agreement.<\/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\/agriculture\/\">agriculture<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/debt-watch\/\">debt watch<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/development-finance\/\">development finance<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/food-security\/\">food security<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/nwfe\/\">NWFE<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/un\/\">UN<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                    <\/div>\n    <\/div>\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"576866\" 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=\"576866\">\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\">Automotive<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2022\/11\/01\/egypt-car-sales-hit-4-5-year-low-in-september-on-supply-constraints-when-will-you-be-able-to-actually-buy-a-car\/\">\r\n                            Egypt car sales hit 4.5-year low in September on supply constraints \u2014 when will you be able to actually buy a car?                        <\/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\/2022\/11\/01\/egypt-car-sales-hit-4-5-year-low-in-september-on-supply-constraints-when-will-you-be-able-to-actually-buy-a-car\/\" 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\/2022\/11\/01\/egypt-car-sales-hit-4-5-year-low-in-september-on-supply-constraints-when-will-you-be-able-to-actually-buy-a-car\/')\">\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\/2022\/11\/01\/egypt-car-sales-hit-4-5-year-low-in-september-on-supply-constraints-when-will-you-be-able-to-actually-buy-a-car\/\">\n                    Facebook                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/facebook-icon2.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a target=\"_blank\" href=\"https:\/\/x.com\/intent\/post?text=Egypt car sales hit 4.5-year low in September on supply constraints \u2014 when will you be able to actually buy a car?&url=https:\/\/enterpriseam.com\/egypt\/2022\/11\/01\/egypt-car-sales-hit-4-5-year-low-in-september-on-supply-constraints-when-will-you-be-able-to-actually-buy-a-car\/\">\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\/2022\/11\/01\/egypt-car-sales-hit-4-5-year-low-in-september-on-supply-constraints-when-will-you-be-able-to-actually-buy-a-car\/&title=Egypt car sales hit 4.5-year low in September on supply constraints \u2014 when will you be able to actually buy a car?\">\n                    LinkedIn                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/linkedin-icon.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a href=\"https:\/\/api.whatsapp.com\/send?text=Egypt+car+sales+hit+4.5-year+low+in+September+on+supply+constraints+%E2%80%94+when+will+you+be+able+to+actually+buy+a+car%3F+https%3A%2F%2Fenterpriseam.com%2Fegypt%2F2022%2F11%2F01%2Fegypt-car-sales-hit-4-5-year-low-in-september-on-supply-constraints-when-will-you-be-able-to-actually-buy-a-car%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\/2022\/11\/01\/egypt-car-sales-hit-4-5-year-low-in-september-on-supply-constraints-when-will-you-be-able-to-actually-buy-a-car\/\">\r\n                    <div class=\"photo photo--above\">\r\n                        <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2022\/11\/39.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"576867\" data-permalink=\"https:\/\/enterpriseam.com\/egypt\/2022\/11\/01\/egypt-car-sales-hit-4-5-year-low-in-september-on-supply-constraints-when-will-you-be-able-to-actually-buy-a-car\/39-jpg-18\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2022\/11\/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\/2022\/11\/39.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2022\/11\/39.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-576866\" class=\"content-area-description single-story post-576866 post type-post status-publish format-standard has-post-thumbnail hentry category-automotive tag-amic tag-automotive tag-enterpriseam wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<p><a class=\"content-anchor\" id=\"tldr-story-04\"><\/a> <strong>Auto sales slump to 4.5-year low:<\/strong> Monthly auto sales fell to their lowest level since 2018 in September as import restrictions continued to weigh on the market. Figures released by the Automotive Information Council (AMIC) yesterday showed that only 6.8k passenger cars were sold during the month, 60% fewer than in September 2021. This is the lowest monthly sales volume since January 2018.<\/p>\n<p><strong>Other vehicle types didn\u2019t fare (quite) as badly:<\/strong> Truck sales fell 33% to around 2.8k while sales of buses were down 8% to around 1.8k. Overall vehicle sales were down 50% to 11.4k, the lowest figure since the covid-19 lockdown in April 2020.<\/p>\n<p><strong>ICYMI- The auto sector has been suffering:<\/strong> Car sales have fallen through most of 2022 thanks to import restrictions. Amid tightening financial conditions globally, the Central Bank of Egypt (CBE) imposed <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/14ddd079-0875-4a96-81ca-c94fa0e38f6b\">sharp restrictions<\/a> on imports to preserve foreign currency, which have made it almost impossible for distributors to bring fully built up vehicles, assembly kits, and spare parts into the country and forced a number of <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/3242bc1d-f416-47a6-a914-3ce472eb1c9f\">global car manufacturers<\/a> to suspend sales to Egypt.<\/p>\n<p><strong>Light at the end of the tunnel: <\/strong>The central bank will by the end of the year <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/ddd263a4-f28f-47d4-90e2-e93c3db56a26\">phase out the requirement to finance i<\/a><a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/ddd263a4-f28f-47d4-90e2-e93c3db56a26\">mports via L\/Cs<\/a> \u2014 the measure was the primary way the bank had been stifling imports. In the meantime, new governor Hassan Abdalla is allowing shipments worth as much as USD 500k (up from a previous limit of USD 5k) to be cleared through the old documentary collection system.<\/p>\n<p><strong>That last bit suggests that spares, at least, will likely become more available in the weeks to come <\/strong>\u2014 and that some smaller shipments of vehicles in port since spring might come through at the same time.<\/p>\n<p><strong>But it will be months before vehicle supply improves. <\/strong>Global producers have been redirecting to other markets production (of both assembly kids and completely built vehicles) that they had previously earmarked for Egypt. It\u2019s going to take months for distributors here to place orders, global suppliers to make and ship \u2014 and then longer still if you\u2019re looking for a model that is assembled in Egypt.<\/p>\n<p><strong>And the Madbouly government\u2019s expat car program is unlikely to eat substantially into pent-up demand. <\/strong><a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/82bee1e7-27a9-4e86-bf75-057a2812bbdb\">The scheme<\/a> has opened a four-month window for Egyptians working abroad to pay for vehicles up front in hard currency in return for the right to import a new car with the promise they\u2019ll get taxes and customs back in local currency five years down the road. The Finance Ministry thinks the scheme will convince hundreds of thousands of Egyptians abroad to purchase vehicles.<\/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\/amic\/\">AMIC<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/automotive\/\">automotive<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                    <\/div>\n    <\/div>\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"576868\" 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=\"576868\">\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\">Development finance<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2022\/11\/01\/qnb-al-ahli-could-be-getting-usd-20-mn-in-ebrd-funding-to-lend-to-youth-led-smes\/\">\r\n                            QNB Al Ahli could be getting USD 20 mn in EBRD funding to lend to youth-led SMEs                        <\/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\/2022\/11\/01\/qnb-al-ahli-could-be-getting-usd-20-mn-in-ebrd-funding-to-lend-to-youth-led-smes\/\" 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\/2022\/11\/01\/qnb-al-ahli-could-be-getting-usd-20-mn-in-ebrd-funding-to-lend-to-youth-led-smes\/')\">\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\/2022\/11\/01\/qnb-al-ahli-could-be-getting-usd-20-mn-in-ebrd-funding-to-lend-to-youth-led-smes\/\">\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=QNB Al Ahli could be getting USD 20 mn in EBRD funding to lend to youth-led SMEs&url=https:\/\/enterpriseam.com\/egypt\/2022\/11\/01\/qnb-al-ahli-could-be-getting-usd-20-mn-in-ebrd-funding-to-lend-to-youth-led-smes\/\">\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\/2022\/11\/01\/qnb-al-ahli-could-be-getting-usd-20-mn-in-ebrd-funding-to-lend-to-youth-led-smes\/&title=QNB Al Ahli could be getting USD 20 mn in EBRD funding to lend to youth-led SMEs\">\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=QNB+Al+Ahli+could+be+getting+USD+20+mn+in+EBRD+funding+to+lend+to+youth-led+SMEs+https%3A%2F%2Fenterpriseam.com%2Fegypt%2F2022%2F11%2F01%2Fqnb-al-ahli-could-be-getting-usd-20-mn-in-ebrd-funding-to-lend-to-youth-led-smes%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\/2022\/11\/01\/qnb-al-ahli-could-be-getting-usd-20-mn-in-ebrd-funding-to-lend-to-youth-led-smes\/\">\r\n                    <div class=\"photo photo--above\">\r\n                        <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2022\/11\/40.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"576869\" data-permalink=\"https:\/\/enterpriseam.com\/egypt\/2022\/11\/01\/qnb-al-ahli-could-be-getting-usd-20-mn-in-ebrd-funding-to-lend-to-youth-led-smes\/40-jpg-11\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2022\/11\/40.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"40.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2022\/11\/40.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2022\/11\/40.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-576868\" class=\"content-area-description single-story post-576868 post type-post status-publish format-standard has-post-thumbnail hentry category-development-finance tag-banking tag-debt-watch tag-development-finance tag-ebrd tag-enterpriseam tag-qnb-alahli tag-smes wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<p><strong>EBRD money for youth-led SMEs<\/strong><strong>:<\/strong> Qatar National Bank Al Ahli (QNB Al Ahli) could be getting a senior unsecured loan of up to USD 20 mn from the European Reconstruction and Development Bank (EBRD) for on-lending to youth-led MSMEs, according to <a href=\"https:\/\/www.ebrd.com\/work-with-us\/projects\/psd\/52807.html\">the lender\u2019s website<\/a>.<\/p>\n<p><strong>What\u2019s a senior loan, you ask? <\/strong>A senior bank loan is money lent to a business by a financial institution which is then repackaged and sold to other investors. Senior loans are usually the first to be repaid to creditors in the event of bankruptcy.<\/p>\n<p><strong>And who\u2019s eligible?<\/strong> MSMEs that are majority owned by people under 35 years old will be able to apply for funding under the scheme. \u201cThe project is expected to increase the pool of financing available to young individuals in Egypt and to help this group of borrowers build their skill-set and develop their businesses, thereby promoting youth entrepreneurship and youth's participation in business through an integrated approach,\u201d the lender 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\/banking\/\">banking<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/debt-watch\/\">debt watch<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/development-finance\/\">development finance<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/ebrd\/\">EBRD<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/qnb-alahli\/\">QNB Alahli<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/smes\/\">SMEs<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                    <\/div>\n    <\/div>\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"576870\" 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=\"576870\">\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\">Investment Watch<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2022\/11\/01\/beyti-is-looking-to-invest-egp-440-mn-in-egypt-over-two-years\/\">\r\n                            Beyti is looking to invest EGP 440 mn in Egypt over two years                        <\/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\/2022\/11\/01\/beyti-is-looking-to-invest-egp-440-mn-in-egypt-over-two-years\/\" 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\/2022\/11\/01\/beyti-is-looking-to-invest-egp-440-mn-in-egypt-over-two-years\/')\">\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\/2022\/11\/01\/beyti-is-looking-to-invest-egp-440-mn-in-egypt-over-two-years\/\">\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=Beyti is looking to invest EGP 440 mn in Egypt over two years&url=https:\/\/enterpriseam.com\/egypt\/2022\/11\/01\/beyti-is-looking-to-invest-egp-440-mn-in-egypt-over-two-years\/\">\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\/2022\/11\/01\/beyti-is-looking-to-invest-egp-440-mn-in-egypt-over-two-years\/&title=Beyti is looking to invest EGP 440 mn in Egypt over two years\">\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=Beyti+is+looking+to+invest+EGP+440+mn+in+Egypt+over+two+years+https%3A%2F%2Fenterpriseam.com%2Fegypt%2F2022%2F11%2F01%2Fbeyti-is-looking-to-invest-egp-440-mn-in-egypt-over-two-years%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\/2022\/11\/01\/beyti-is-looking-to-invest-egp-440-mn-in-egypt-over-two-years\/\">\r\n                    <div class=\"photo photo--above\">\r\n                        <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2022\/11\/41.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"576871\" data-permalink=\"https:\/\/enterpriseam.com\/egypt\/2022\/11\/01\/beyti-is-looking-to-invest-egp-440-mn-in-egypt-over-two-years\/41-jpg-15\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2022\/11\/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\/2022\/11\/41.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2022\/11\/41.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-576870\" class=\"content-area-description single-story post-576870 post type-post status-publish format-standard has-post-thumbnail hentry category-investment-watch tag-enterpriseam tag-fb tag-investment-watch wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<p><strong>Dairy and juice producer <\/strong><strong><a href=\"https:\/\/www.beytiegypt.com\/\">Beyti<\/a><\/strong><strong> plans to invest EGP 440 mn in Egypt over the next <\/strong><strong>two years<\/strong>, split equally between this year and next, CEO Mark Wiley said at a press conference, according to <a href=\"https:\/\/english.mubasher.info\/news\/4031313\/Beyti-plans-to-invest-EGP-440m-in-Egypt-in-2-years\/\">Mubasher<\/a>. Wiley said <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/3795e1bd-cf27-408b-9afb-717d29fce62d\">earlier this year<\/a> that the company would invest EGP 250 mn in 2022 to expand the company\u2019s distribution network. The company added <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/3795e1bd-cf27-408b-9afb-717d29fce62d\">six new local production lines<\/a> this year at a cost of EGP 165 mn, bringing its total number of production lines to 25. Beyti also plans to tap new markets in North Africa and the US in 2023. Saudi dairy product producer Almarai owns and operates the Beyti brand in Egypt as part of a joint venture with PepsiCo.<\/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\/fb\/\">F&amp;B<\/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=\"576872\" 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=\"576872\">\r\n            \r\n                <div class=\"issue-story-header text-center\">\r\n                    <div class=\"index-number\">6<\/div>\r\n\r\n                    <p class=\"f-graphik\">Energy<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2022\/11\/01\/oc-breaks-ground-on-ras-ghareb-wind-farm-suez-cement-adds-more-solar-to-its-energy-mix\/\">\r\n                            OC breaks ground on Ras Ghareb wind farm + Suez Cement adds more solar to its energy mix                        <\/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\/2022\/11\/01\/oc-breaks-ground-on-ras-ghareb-wind-farm-suez-cement-adds-more-solar-to-its-energy-mix\/\" 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\/2022\/11\/01\/oc-breaks-ground-on-ras-ghareb-wind-farm-suez-cement-adds-more-solar-to-its-energy-mix\/')\">\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\/2022\/11\/01\/oc-breaks-ground-on-ras-ghareb-wind-farm-suez-cement-adds-more-solar-to-its-energy-mix\/\">\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=OC breaks ground on Ras Ghareb wind farm + Suez Cement adds more solar to its energy mix&url=https:\/\/enterpriseam.com\/egypt\/2022\/11\/01\/oc-breaks-ground-on-ras-ghareb-wind-farm-suez-cement-adds-more-solar-to-its-energy-mix\/\">\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\/2022\/11\/01\/oc-breaks-ground-on-ras-ghareb-wind-farm-suez-cement-adds-more-solar-to-its-energy-mix\/&title=OC breaks ground on Ras Ghareb wind farm + Suez Cement adds more solar to its energy mix\">\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=OC+breaks+ground+on+Ras+Ghareb+wind+farm+%2B+Suez+Cement+adds+more+solar+to+its+energy+mix+https%3A%2F%2Fenterpriseam.com%2Fegypt%2F2022%2F11%2F01%2Foc-breaks-ground-on-ras-ghareb-wind-farm-suez-cement-adds-more-solar-to-its-energy-mix%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\/2022\/11\/01\/oc-breaks-ground-on-ras-ghareb-wind-farm-suez-cement-adds-more-solar-to-its-energy-mix\/\">\r\n                    <div class=\"photo photo--above\">\r\n                        <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2022\/11\/42.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"576873\" data-permalink=\"https:\/\/enterpriseam.com\/egypt\/2022\/11\/01\/oc-breaks-ground-on-ras-ghareb-wind-farm-suez-cement-adds-more-solar-to-its-energy-mix\/42-jpg-14\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2022\/11\/42.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"42.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2022\/11\/42.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2022\/11\/42.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-576872\" class=\"content-area-description single-story post-576872 post type-post status-publish format-standard has-post-thumbnail hentry category-energy tag-climate-change tag-ebrd tag-energy tag-engie tag-enterpriseam tag-intro-group tag-orascom-construction tag-renewables tag-suez-cement tag-toyota-tsusho 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>We have two stories this morning from Egypt\u2019s renewable energy sector<\/strong> after the Orascom-Engie-Toyota Tsusho consortium broke ground on its 500-MW wind farm in Ras Ghareb, while Suez Cement announced an agreement to install a solar facility at its Suez plant.<\/p>\n<p><strong>CONSTRUCTION ON RAS GHAREB WIND FARM UNDER WAY-<\/strong><\/p>\n<p><strong>Orascom Construction, Toyota Tsusho, and Engie broke ground ye<\/strong><strong>sterday on <\/strong><strong>their new 500 MW wind farm in Ras Ghareb<\/strong>, OC said in <a href=\"https:\/\/ent.news\/2022\/10\/OC-Consortium-Announces-Groundbreaking-Ceremony-at-a-New-500-MW-BOO-Wind-Farm-in-Egypt.pdf\">a statement (pdf)<\/a>. The three companies <a href=\"https:\/\/ent.news\/2021\/10\/OC-Consortium-to-Develop-a-500-MW-Build-Own-Operate-Wind-Farm-in-Egypt.pdf\">signed (pdf)<\/a> a 20-year contract with the Electricity Ministry to develop, construct and operate the plant in October 2021. OC owns a 25% stake in the project and is responsible for building the plant. Implementation is expected to take 30 months.<\/p>\n<p><strong>Clean energy for hundreds of thousands of homes:<\/strong> Once operational, the farm will deliver clean energy to more than 800k homes and help slash CO2 emissions by 1 mn tons annually, the statement added.<\/p>\n<p><strong>How much will this cost?<\/strong> USD 680 mn, according to the <a href=\"https:\/\/www.facebook.com\/EgyptianCabinet\/posts\/pfbid0B14DxuBMLVosNjkYE3CZxHnBf227nE4hDXXA2PcygTLAXhg7cq21cBzXoB4yfVMsl\">Electricity<\/a><a href=\"https:\/\/www.facebook.com\/EgyptianCabinet\/posts\/pfbid0B14DxuBMLVosNjkYE3CZxHnBf227nE4hDXXA2PcygTLAXhg7cq21cBzXoB4yfVMsl\">Ministry<\/a>, which said yesterday that the European Bank for Reconstruction and Development, the Japan Bank for International Cooperation, the Green Climate Fund, and a group of commercial banks had provided finance.<\/p>\n<p><strong>SUEZ CEMENT IS GOING SOLAR-<\/strong><\/p>\n<p><strong><a href=\"https:\/\/introgroup.org\/intro\/about.html\">Intro Group<\/a><\/strong><strong> subsidiary Intro Power and Utilities <\/strong><strong>will build a 20-MW solar farm <\/strong><strong>at Suez Cement\u2019s Suez plant<\/strong> under a <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/6469dcfd-dd91-4462-890d-512c7e36b1d2\">purchase power agreement (PPA)<\/a> signed yesterday by the two firms, Suez Cement said in <a href=\"https:\/\/www.suezcement.com.eg\/en\/scgc%20and%20intro\">a statement<\/a>.<\/p>\n<p><strong>By the numbers: <\/strong>The EGP 350 mn facility will provide c.45 GWh of clean electricity to the plant, supplying 20% of the plant\u2019s total energy needs and offsetting some 20k tons of CO2 emissions annually. The plant is scheduled to become operational in 1H 2023, with construction set to begin early next year. The station will be connected to the national grid in 2H 2023 and will supply power to the plant until 2043.<\/p>\n<p><strong>The plant will help Suez Cement reach its goal of nearly halving net CO2 emissions<\/strong> compared to 1990 levels by 2030, Suez Cement Managing Director Mohamed Hegazy said. \u201cThrough transitioning to renewable solar energy, we are looking at long-term economic benefits, laying the foundation for a low-carbon business and energy security without jeopardizing the health of our environment,\u201d he added.<\/p>\n<p><strong>ALSO-<\/strong> <strong>Solariz Egypt <\/strong>has launched the second phase of its EGP 97 mn <strong>solar power <\/strong><strong>plant<\/strong> in El Gouna, generating 7 MWh \u2014 some 16% of the city\u2019s needs, according to <a href=\"https:\/\/www.alborsaanews.com\/2022\/10\/26\/1591189\">Al Borsa<\/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\/climate-change\/\">climate change<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/ebrd\/\">EBRD<\/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\/engie\/\">Engie<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/intro-group\/\">Intro Group<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/orascom-construction\/\">Orascom Construction<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/renewables\/\">renewables<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/suez-cement\/\">Suez Cement<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/toyota-tsusho\/\">Toyota Tsusho<\/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=\"576874\" 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=\"576874\">\r\n            \r\n            <div class=\"story__body\">\r\n\r\n                <a href=\"https:\/\/enterpriseam.com\/egypt\/2022\/11\/01\/576874\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-576874\" class=\"content-area-description single-story post-576874 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:\/\/b2gcop27.moharrampartners.com\/\"><img data-recalc-dims=\"1\" decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2022\/10\/MP-COP27-Meeting-Enterprise-Web-Size-1.png?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=\"576875\" 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=\"576875\">\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\">Healthcare<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2022\/11\/01\/idh-moves-into-ksa-labs-market-with-fawaz-alhokair-jv\/\">\r\n                            IDH moves into KSA labs market with Fawaz Alhokair JV                        <\/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\/2022\/11\/01\/idh-moves-into-ksa-labs-market-with-fawaz-alhokair-jv\/\" 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\/2022\/11\/01\/idh-moves-into-ksa-labs-market-with-fawaz-alhokair-jv\/')\">\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\/2022\/11\/01\/idh-moves-into-ksa-labs-market-with-fawaz-alhokair-jv\/\">\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=IDH moves into KSA labs market with Fawaz Alhokair JV&url=https:\/\/enterpriseam.com\/egypt\/2022\/11\/01\/idh-moves-into-ksa-labs-market-with-fawaz-alhokair-jv\/\">\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\/2022\/11\/01\/idh-moves-into-ksa-labs-market-with-fawaz-alhokair-jv\/&title=IDH moves into KSA labs market with Fawaz Alhokair JV\">\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=IDH+moves+into+KSA+labs+market+with+Fawaz+Alhokair+JV+https%3A%2F%2Fenterpriseam.com%2Fegypt%2F2022%2F11%2F01%2Fidh-moves-into-ksa-labs-market-with-fawaz-alhokair-jv%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\/2022\/11\/01\/idh-moves-into-ksa-labs-market-with-fawaz-alhokair-jv\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-576875\" class=\"content-area-description single-story post-576875 post type-post status-publish format-standard hentry category-healthcare tag-enterpriseam tag-healthcare tag-integrated-diagnostics-holding tag-investment-watch tag-izhoor-medical tag-saudi-arabia wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<p><a class=\"content-anchor\" id=\"tldr-story-07\"><\/a> <strong>EGX- and LSE-listed Integrated Diagnostics Holding (IDH) is set to enter the <\/strong><strong>Saudi healthcare market<\/strong> with a greenfield JV after agreeing to set up a local diagnostics company with Saudi firm Izhoor Medical, it said in <a href=\"https:\/\/ent.news\/2022\/10\/IDH-311022-EN.pdf\">a statement<\/a><a href=\"https:\/\/ent.news\/2022\/10\/IDH-311022-EN.pdf\">(pdf)<\/a> yesterday. The joint venture will be 50% owned by IDH and its Jordanian subsidiary, Biolab, and 50% owned by Izhoor, a unit of the high-profile Saudi retailer Fawaz Alhokair.<\/p>\n<p><strong>What they\u2019re building: <\/strong>\u201cA full-fledged pathology diagnostic services provider offering a wide array of diagnostics services\u201d on a national basis, the statement said.<\/p>\n<p><strong>Investment in the JV will approach USD 20 mn over the next four years<\/strong>, with the business set to start operations sometime between February and April 2023 once regulatory approvals and licenses are in place. The move will see IDH add Saudi to a footprint that already includes Egypt, Jordan, Sudan and Nigeria.<\/p>\n<p><strong>The transaction makes good sense for IDH: <\/strong>The Saudi diagnostics market looks set to be one of the fastest-growing in the Middle East and Africa over the coming six years, IDH says, citing market data. Riyadh is looking to see more private-sector players in the labs industry to serve the country\u2019s population, which is growing at about 2% a year. In addition to rising state spending on healthcare and a parallel privatization drive, Saudi is requiring private-sector employees to offer health ins. for their employees. The JV will also have access to Fawaz Alhokair\u2019s extensive network of malls in KSA, where it is the largest operator in the country.<\/p>\n<p><strong>What they said: <\/strong>\u201cThis transaction is directly in line with our long-term regional expansion strategy which sees us pursue high-growth markets where our platform and proven expertise are well-suited to deliver high-quality care to as many patients as possible,\u201d said IDH CEO Hend El Sherbini.<\/p>\n<p><strong>ADVISORS- <\/strong>IDH and Biolab have appointed Khalifeh & Partners to act as their legal advisors on the transaction, while Izhoor were represented by the Law Firm of Wael A. Alissa in association with Dentons. Neither side reported being advised by investment bankers on the transaction.<\/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\/healthcare\/\">healthcare<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/integrated-diagnostics-holding\/\">Integrated Diagnostics Holding<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/investment-watch\/\">investment watch<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/izhoor-medical\/\">Izhoor Medical<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/saudi-arabia\/\">Saudi Arabia<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                    <\/div>\n    <\/div>\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"576876\" 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=\"576876\">\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\">LEGISLATION WATCH<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2022\/11\/01\/senate-gives-final-nod-to-amendments-that-could-see-contractors-compensated-for-suffering-losses-in-deval-2-0\/\">\r\n                            Senate gives final nod to amendments that could see contractors compensated for suffering losses in Deval 2.0                        <\/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\/2022\/11\/01\/senate-gives-final-nod-to-amendments-that-could-see-contractors-compensated-for-suffering-losses-in-deval-2-0\/\" 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\/2022\/11\/01\/senate-gives-final-nod-to-amendments-that-could-see-contractors-compensated-for-suffering-losses-in-deval-2-0\/')\">\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\/2022\/11\/01\/senate-gives-final-nod-to-amendments-that-could-see-contractors-compensated-for-suffering-losses-in-deval-2-0\/\">\n                    Facebook                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/facebook-icon2.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a target=\"_blank\" href=\"https:\/\/x.com\/intent\/post?text=Senate gives final nod to amendments that could see contractors compensated for suffering losses in Deval 2.0&url=https:\/\/enterpriseam.com\/egypt\/2022\/11\/01\/senate-gives-final-nod-to-amendments-that-could-see-contractors-compensated-for-suffering-losses-in-deval-2-0\/\">\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\/2022\/11\/01\/senate-gives-final-nod-to-amendments-that-could-see-contractors-compensated-for-suffering-losses-in-deval-2-0\/&title=Senate gives final nod to amendments that could see contractors compensated for suffering losses in Deval 2.0\">\n                    LinkedIn                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/linkedin-icon.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a href=\"https:\/\/api.whatsapp.com\/send?text=Senate+gives+final+nod+to+amendments+that+could+see+contractors+compensated+for+suffering+losses+in+Deval+2.0+https%3A%2F%2Fenterpriseam.com%2Fegypt%2F2022%2F11%2F01%2Fsenate-gives-final-nod-to-amendments-that-could-see-contractors-compensated-for-suffering-losses-in-deval-2-0%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\/2022\/11\/01\/senate-gives-final-nod-to-amendments-that-could-see-contractors-compensated-for-suffering-losses-in-deval-2-0\/\">\r\n                    <div class=\"photo photo--above\">\r\n                        <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2022\/11\/43.jpeg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"576877\" data-permalink=\"https:\/\/enterpriseam.com\/egypt\/2022\/11\/01\/senate-gives-final-nod-to-amendments-that-could-see-contractors-compensated-for-suffering-losses-in-deval-2-0\/43-jpeg\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2022\/11\/43.jpeg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"43.jpeg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2022\/11\/43.jpeg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2022\/11\/43.jpeg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-576876\" class=\"content-area-description single-story post-576876 post type-post status-publish format-standard has-post-thumbnail hentry category-legislation-watch tag-devaluation tag-enterpriseam tag-legislation-watch tag-senate wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<p><strong>Good news for government contractors:<\/strong> Senators yesterday approved legal amendments that would allow contractors who have suffered losses because of recent economic reforms to receive compensation from the government.<\/p>\n<p><strong>The current bill was drafted with 2016 in mind:<\/strong> The original 2017 law was drafted to provide compensation for losses caused by economic reforms undertaken between March and December 2016 (read: the EGP devaluation, lifting of fuel subsidies, introduction of VAT etc.).<\/p>\n<p><strong>The legislation will now cover all periods of economic reforms:<\/strong> \u201cWe decided that the scope of the bill goes beyond this to include all periods of economic reforms causing financial losses to contractors involved in building projects, and delivering supplies and services for the government,\u201d said Senate Housing Committee Chairman Khaled Said. This means that contractors who have suffered losses because of this year\u2019s currency devaluations and the phasing out of fuel subsidies may be eligible for compensation.<\/p>\n<p><strong>A lifeline for private contractors<\/strong>: \"The legislation will help save private contractors who are in charge of implementing government projects from bankruptcy, also putting into account that these projects serve 90 industries,\" Senator and businessman Ahmed Sabbour said.<\/p>\n<p><strong>What\u2019s next:<\/strong> The bill will make its way to the House of Representatives for a vote and if passed, will be signed into law by President Abdel Fattah El Sisi.<\/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\/devaluation\/\">devaluation<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/legislation-watch\/\">Legislation Watch<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/senate\/\">Senate<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                    <\/div>\n    <\/div>\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"576878\" 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=\"576878\">\r\n            \r\n            <div class=\"story__body\">\r\n\r\n                <a href=\"https:\/\/enterpriseam.com\/egypt\/2022\/11\/01\/576878\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-576878\" class=\"content-area-description single-story post-576878 post type-post status-publish format-standard hentry category-uncategorized wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<p class=\"web-image\"><a href=\"https:\/\/www.sodic.com\/\"><img data-recalc-dims=\"1\" decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2022\/7\/Sodic-25_EXPERIENCES_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=\"576879\" 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=\"576879\">\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\">LAST NIGHT\u2019S TALK SHOWS<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2022\/11\/01\/the-talking-heads-are-still-talking-about-taweem-3-0-plus-112-911-in-egypt\/\">\r\n                            The talking heads are still talking about taweem 3.0. Plus: 112 = 911 in Egypt                        <\/a>\r\n                    <\/h3>\r\n\r\n                    \r\n\t\t\t\t\t\n<div class=\"cta\">\n    <div class=\"cta__btn share-dropdown-cta dropdown-toggle-btn\" style=\"position:relative\">\n        <img decoding=\"async\" src=\"https:\/\/ent.news\/internal\/408834.svg\" alt=\"\">\n        Share Story\n        <!-- Dropdown Menu -->\n        <ul class=\"share-menu\">\n            <li class=\"list-inline-item\">\n                <a href=\"https:\/\/enterpriseam.com\/egypt\/2022\/11\/01\/the-talking-heads-are-still-talking-about-taweem-3-0-plus-112-911-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(); navigator.clipboard.writeText('https:\/\/enterpriseam.com\/egypt\/2022\/11\/01\/the-talking-heads-are-still-talking-about-taweem-3-0-plus-112-911-in-egypt\/')\">\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\/2022\/11\/01\/the-talking-heads-are-still-talking-about-taweem-3-0-plus-112-911-in-egypt\/\">\n                    Facebook                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/facebook-icon2.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a target=\"_blank\" href=\"https:\/\/x.com\/intent\/post?text=The talking heads are still talking about taweem 3.0. Plus: 112 = 911 in Egypt&url=https:\/\/enterpriseam.com\/egypt\/2022\/11\/01\/the-talking-heads-are-still-talking-about-taweem-3-0-plus-112-911-in-egypt\/\">\n                    X                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/twitter-icon.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a target=\"_blank\" href=\"https:\/\/www.linkedin.com\/shareArticle?mini=true&url=https:\/\/enterpriseam.com\/egypt\/2022\/11\/01\/the-talking-heads-are-still-talking-about-taweem-3-0-plus-112-911-in-egypt\/&title=The talking heads are still talking about taweem 3.0. Plus: 112 = 911 in Egypt\">\n                    LinkedIn                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/linkedin-icon.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a href=\"https:\/\/api.whatsapp.com\/send?text=The+talking+heads+are+still+talking+about+taweem+3.0.+Plus%3A+112+%3D+911+in+Egypt+https%3A%2F%2Fenterpriseam.com%2Fegypt%2F2022%2F11%2F01%2Fthe-talking-heads-are-still-talking-about-taweem-3-0-plus-112-911-in-egypt%2F\">\n                    WhatsApp                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/whatsapp-icon.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n        <\/ul>\n    <\/div>\n        <\/div>\r\n                    \r\n                <\/div>\r\n\r\n            \r\n            <div class=\"story__body\">\r\n\r\n                <a href=\"https:\/\/enterpriseam.com\/egypt\/2022\/11\/01\/the-talking-heads-are-still-talking-about-taweem-3-0-plus-112-911-in-egypt\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-576879\" class=\"content-area-description single-story post-576879 post type-post status-publish format-standard hentry category-last-nights-talk-shows tag-devaluation tag-emergency-services tag-enterpriseam tag-last-nights-talk-shows tag-public-safety wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<p><strong>The post-EGP float economy continued to dominate the conversation on the airwaves <\/strong><strong>last night<\/strong>, with the nation\u2019s talking heads continuing to play down the prospects of rising prices and shortages in the wake of the EGP\u2019s 22% plunge against the greenback. Kelma Akhira\u2019s Lamis El Hadidi called for patience and urged citizens to wait for a month as authorities try to get prices under control until the USD price against the EGP stabilizes (<a href=\"https:\/\/www.youtube.com\/watch?v=E1F6fHoI6lU\">watch, runtime: 1:21<\/a>) while several government officials made appearances to explain what the state is doing to minimize hardship caused by the float.<\/p>\n<p><strong>Among them was Ahmed El Attar, head of the Agriculture Ministry\u2019s quarantine authority, <\/strong>who returned for the second night running to try to calm fears of food shortages and rising prices (<a href=\"https:\/\/www.youtube.com\/watch?v=gqwU0tD1Mwk\">watch, runtime: 6:07<\/a>). He described the ongoing shortage of feed as a \u201ctemporary crisis\u201d and said it will be resolved in a few weeks. Thousands of tons of corn and soybeans have been released from ports in the past five days, he said. He reiterated that a slowdown of Ukrainian grain exports won\u2019t threaten Egypt\u2019s food security, though admitted that Russia\u2019s exit from the export pact will likely cause global food prices to spike.<\/p>\n<p><strong>Also making appearances last night:<\/strong><\/p>\n<ul>\n<li><strong>Abdel Aziz Al Sayed, head of the Poultry Division in the Cairo Chamber of <\/strong><strong>Commerce<\/strong>, told Al Hadath Al Youm (<a href=\"https:\/\/www.youtube.com\/watch?v=UehQHgo5t4Q\">watch, runtime: 1:29<\/a>) and Ala Mas\u2019ouleety (<a href=\"https:\/\/www.youtube.com\/watch?v=_m2q4jEv2Dc\">watch, runtime: 6:04<\/a>) that further releases of feed from ports will help to bring prices down.<\/li>\n<li><strong>Emad El Qenawy, head of the importers division at the Federation of Egyptian <\/strong><strong>Chambers of Commerce (FEDCOC)<\/strong>, said that banks have begun phoning importers to provide them with USD for imports (<a href=\"https:\/\/www.youtube.com\/watch?v=by7FoMW9pOM\">watch, runtime: 5:05<\/a>). However, he warned that the latest hike in interest rates will tighten financial conditions and weigh on purchasing power. He urged policymakers to introduce banking initiatives that include debt restructuring for struggling manufacturers and importers.<\/li>\n<li><strong>Mahmoud Al Daour, former head of the Clothing Division<\/strong>, who said that prices of winter clothes have climbed 40% due to the devaluation in March (<a href=\"https:\/\/www.youtube.com\/watch?v=rx3gwqsXZPA\">watch, runtime: 12:28<\/a>) <\/li>\n<\/ul>\n<p><a class=\"content-anchor\" id=\"tldr-story-11\"><\/a> <strong>We\u2019re getting a new emergency services hotline:<\/strong> Citizens in certain governorates can now dial a single number \u2014 112 \u2014 to request a range of emergency services including medical treatment, the police and the fire department. The new hotline is currently in use in Port Said, Ismailia, Suez, South Sinai, Luxor and Aswan governorates, and will be rolled out to the rest of the country next year, Health Minister Khaled Abdel Ghaffar told El Hekaya (<a href=\"https:\/\/www.youtube.com\/watch?v=QCbmVtBoIJ4\">watch, runtime: 7:34<\/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\/devaluation\/\">devaluation<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/emergency-services\/\">emergency services<\/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\/public-safety\/\">Public safety<\/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=\"576880\" 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-oilzavt\" data-v=\"4\" data-block-id=\"oilzavt\"><div class=\"stk-column-wrapper stk-block-column__content stk-container stk-oilzavt-container stk--no-background stk--no-padding\"><div class=\"stk-block-content stk-inner-blocks stk-oilzavt-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-8xq3yqc\" data-v=\"4\" data-block-id=\"8xq3yqc\"><div class=\"stk-column-wrapper stk-block-column__content stk-container stk-8xq3yqc-container stk--no-background stk--no-padding\"><div class=\"stk-block-content stk-inner-blocks stk-8xq3yqc-inner-blocks\">\r\n            <div class=\"issue-sponsor-slide\">\r\n                <img data-recalc-dims=\"1\" decoding=\"async\" draggable=\"false\" src=\"https:\/\/i0.wp.com\/ent.news\/internal\/240924.png?ssl=1\">\r\n                <div class=\"overlay\"><\/div>\r\n                <div class=\"content\">\r\n                    <a draggable=\"false\" href=\"https:\/\/www.sodic.com\/\" target=\"_blank\" class=\"logo\" rel=\"noopener\">\r\n                        <img decoding=\"async\" draggable=\"false\" src=\"https:\/\/ent.news\/internal\/27487.svg\" alt=\"\">\r\n                    <\/a>\r\n                    <span>Live More<\/span>\r\n                <\/div>\r\n            <\/div>\r\n            <\/div><\/div><\/div>\r\n        \r\n            <div class=\"wp-block-stackable-column stk-block-column stk-column stk-block stk-dsj3a87\" data-v=\"4\" data-block-id=\"dsj3a87\"><div class=\"stk-column-wrapper stk-block-column__content stk-container stk-dsj3a87-container stk--no-background stk--no-padding\"><div class=\"stk-block-content stk-inner-blocks stk-dsj3a87-inner-blocks\">\r\n            <div class=\"issue-sponsor-slide\">\r\n                <img data-recalc-dims=\"1\" decoding=\"async\" draggable=\"false\" src=\"https:\/\/i0.wp.com\/ent.news\/internal\/240925.png?ssl=1\">\r\n                <div class=\"overlay\"><\/div>\r\n                <div class=\"content\">\r\n                    <a draggable=\"false\" href=\"https:\/\/weareinfinity.com\/\" target=\"_blank\" class=\"logo\" rel=\"noopener\">\r\n                        <img decoding=\"async\" draggable=\"false\" src=\"https:\/\/i0.wp.com\/ent.news\/internal\/27483.png?fit=300%2C300&#038;ssl=1\" alt=\"\">\r\n                    <\/a>\r\n                    <span>Powering with nature<\/span>\r\n                <\/div>\r\n            <\/div>\r\n            <\/div><\/div><\/div>\r\n        \r\n            <div class=\"wp-block-stackable-column stk-block-column stk-column stk-block stk-jciqvbp\" data-v=\"4\" data-block-id=\"jciqvbp\"><div class=\"stk-column-wrapper stk-block-column__content stk-container stk-jciqvbp-container stk--no-background stk--no-padding\"><div class=\"stk-block-content stk-inner-blocks stk-jciqvbp-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 stk-block-carousel__button__next\" aria-label=\"Next slide\"><svg aria-hidden=\"true\" focusable=\"false\" data-prefix=\"fas\" data-icon=\"chevron-right\" class=\"svg-inline--fa fa-chevron-right\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" viewBox=\"0 0 320 512\" width=\"32\" height=\"32\"><path d=\"M285.476 272.971L91.132 467.314c-9.373 9.373-24.569 9.373-33.941 0l-22.667-22.667c-9.357-9.357-9.375-24.522-.04-33.901L188.505 256 34.484 101.255c-9.335-9.379-9.317-24.544.04-33.901l22.667-22.667c9.373-9.373 24.569-9.373 33.941 0L285.475 239.03c9.373 9.372 9.373 24.568.001 33.941z\"><\/path><\/svg><\/button><\/div><\/div><div class=\"stk-block-carousel__dots\" role=\"list\" data-label=\"Slide %%d\"><\/div><\/div><\/div>\r\n        <\/div>\r\n<\/section> \r\n\r\n\n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"576881\" 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=\"576881\">\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\/2022\/11\/01\/the-fts-big-read-goes-long-on-egypts-economy-human-rights-and-cop27-are-still-leading-the-conversation-in-the-mainstream-press\/\">\r\n                            The FT\u2019s Big Read goes long on Egypt\u2019s economy + human rights and COP27 are still leading the conversation in the mainstream press                        <\/a>\r\n                    <\/h3>\r\n\r\n                    \r\n\t\t\t\t\t\n<div class=\"cta\">\n    <div class=\"cta__btn share-dropdown-cta dropdown-toggle-btn\" style=\"position:relative\">\n        <img decoding=\"async\" src=\"https:\/\/ent.news\/internal\/408834.svg\" alt=\"\">\n        Share Story\n        <!-- Dropdown Menu -->\n        <ul class=\"share-menu\">\n            <li class=\"list-inline-item\">\n                <a href=\"https:\/\/enterpriseam.com\/egypt\/2022\/11\/01\/the-fts-big-read-goes-long-on-egypts-economy-human-rights-and-cop27-are-still-leading-the-conversation-in-the-mainstream-press\/\" target=\"_blank\">\n                    Open in new tab                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/new-tab.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a href=\"#\" target=\"_blank\" onclick=\"event.preventDefault(); navigator.clipboard.writeText('https:\/\/enterpriseam.com\/egypt\/2022\/11\/01\/the-fts-big-read-goes-long-on-egypts-economy-human-rights-and-cop27-are-still-leading-the-conversation-in-the-mainstream-press\/')\">\n                    Copy Link                <\/a>\n\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a target=\"_blank\" href=\"https:\/\/www.facebook.com\/sharer.php?u=https:\/\/enterpriseam.com\/egypt\/2022\/11\/01\/the-fts-big-read-goes-long-on-egypts-economy-human-rights-and-cop27-are-still-leading-the-conversation-in-the-mainstream-press\/\">\n                    Facebook                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/facebook-icon2.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a target=\"_blank\" href=\"https:\/\/x.com\/intent\/post?text=The FT\u2019s Big Read goes long on Egypt\u2019s economy + human rights and COP27 are still leading the conversation in the mainstream press&url=https:\/\/enterpriseam.com\/egypt\/2022\/11\/01\/the-fts-big-read-goes-long-on-egypts-economy-human-rights-and-cop27-are-still-leading-the-conversation-in-the-mainstream-press\/\">\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\/2022\/11\/01\/the-fts-big-read-goes-long-on-egypts-economy-human-rights-and-cop27-are-still-leading-the-conversation-in-the-mainstream-press\/&title=The FT\u2019s Big Read goes long on Egypt\u2019s economy + human rights and COP27 are still leading the conversation in the mainstream press\">\n                    LinkedIn                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/linkedin-icon.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a href=\"https:\/\/api.whatsapp.com\/send?text=The+FT%E2%80%99s+Big+Read+goes+long+on+Egypt%E2%80%99s+economy+%2B+human+rights+and+COP27+are+still+leading+the+conversation+in+the+mainstream+press+https%3A%2F%2Fenterpriseam.com%2Fegypt%2F2022%2F11%2F01%2Fthe-fts-big-read-goes-long-on-egypts-economy-human-rights-and-cop27-are-still-leading-the-conversation-in-the-mainstream-press%2F\">\n                    WhatsApp                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/whatsapp-icon.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n        <\/ul>\n    <\/div>\n        <\/div>\r\n                    \r\n                <\/div>\r\n\r\n            \r\n            <div class=\"story__body\">\r\n\r\n                <a href=\"https:\/\/enterpriseam.com\/egypt\/2022\/11\/01\/the-fts-big-read-goes-long-on-egypts-economy-human-rights-and-cop27-are-still-leading-the-conversation-in-the-mainstream-press\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-576881\" class=\"content-area-description single-story post-576881 post type-post status-publish format-standard hentry category-egypt-in-the-news tag-alaa-abdel-fattah tag-climate tag-cop27 tag-economy tag-enterpriseam tag-human-rights tag-imf tag-national-security tag-state-privatization-program tag-water-insecurity wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<p><strong>Human rights + COP27 are still topping headlines on Egypt in the foreign press<\/strong> after Swedish climate activist Greta Thunberg yesterday criticized the global summit and the decision to hold it in Egypt (more on this in this morning\u2019s What We\u2019re Tracking Today, above). Meanwhile, <a href=\"https:\/\/www.theguardian.com\/environment\/2022\/oct\/31\/egypt-cop27-showcase-charms-sharm-el-sheikh-protest-mall\">the Guardian<\/a> has a critical take on the government\u2019s pledge to allow protests at the summit.<\/p>\n<p><strong>Abdel Fattah to start full hunger strike:<\/strong> The family of detained political activist Alaa Abdel Fattah said yesterday that he will launch a full hunger strike ahead of the summit, <a href=\"https:\/\/www.barrons.com\/articles\/jailed-egypt-dissident-to-launch-full-hunger-strike-ahead-of-cop27-01667239507\">AFP<\/a> reports. The activist has been engaged in a partial hunger strike for more than 200 days.<\/p>\n<p><strong>MEANWHILE- Will the IMF loan result in more private-sector involvement in the <\/strong><strong>economy?<\/strong> The <a href=\"https:\/\/www.ft.com\/content\/03533d92-4a71-43fc-b885-27dcb962d4e8\">Financial Times<\/a>\u2019 Andrew England talks to analysts and (unnamed) business leaders about whether the government will reduce the military\u2019s economic footprint and increase the role of the private sector in the wake of the recently-agreed IMF loan. <strong>It\u2019s the FT\u2019s Big Read this morning. <\/strong><\/p>\n<p><strong>Also making headlines: <\/strong><\/p>\n<ul>\n<li><strong>Water scarcity = social tensions:<\/strong> Farmers and climate change experts fear that rising water shortages could lead to social instability. (<a href=\"https:\/\/www.reuters.com\/business\/cop\/egypts-farmers-fear-rising-social-tensions-over-scarce-water-2022-10-31\/\">Reuters<\/a>)<\/li>\n<li><strong>Female podcasters on the rise:<\/strong> Feminist-leaning podcasts by female podcasters in Egypt are gaining momentum, according to a study. (<a href=\"https:\/\/theconversation.com\/podcasting-in-egypt-how-feminist-activism-has-emerged-through-shared-stories-191811\">The Conversation<\/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\/alaa-abdel-fattah\/\">Alaa Abdel Fattah<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/climate\/\">Climate<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/cop27\/\">COP27<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/economy\/\">economy<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/human-rights\/\">human rights<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/imf\/\">IMF<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <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\/state-privatization-program\/\">state privatization program<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/water-insecurity\/\">water insecurity<\/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=\"576883\" 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=\"576883\">\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\">Diplomacy<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2022\/11\/01\/more-talk-of-qatari-fdi\/\">\r\n                            More talk of Qatari FDI                        <\/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\/2022\/11\/01\/more-talk-of-qatari-fdi\/\" 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\/2022\/11\/01\/more-talk-of-qatari-fdi\/')\">\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\/2022\/11\/01\/more-talk-of-qatari-fdi\/\">\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=More talk of Qatari FDI&url=https:\/\/enterpriseam.com\/egypt\/2022\/11\/01\/more-talk-of-qatari-fdi\/\">\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\/2022\/11\/01\/more-talk-of-qatari-fdi\/&title=More talk of Qatari FDI\">\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=More+talk+of+Qatari+FDI+https%3A%2F%2Fenterpriseam.com%2Fegypt%2F2022%2F11%2F01%2Fmore-talk-of-qatari-fdi%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\/2022\/11\/01\/more-talk-of-qatari-fdi\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-576883\" class=\"content-area-description single-story post-576883 post type-post status-publish format-standard hentry category-diplomacy tag-diplomacy tag-enterpriseam tag-investment-watch tag-qatar wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<p><strong>More talk of incoming Qatari FDI:<\/strong> Egyptian investment authority GAFI and the Qatari Businessmens\u2019 Association held another in a <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/87659fb9-3e37-4033-83a7-0a4bbd2bd3e4\">string of recent meetings<\/a> to discuss potential investments yesterday, according to a <a href=\"https:\/\/www.facebook.com\/EgyptianCabinet\/posts\/pfbid032M1pqZDxvJcvTvxke8HxH8CzisgvsKRv8rPdBiNkA7h5C14ByVhWPwTVsdKhim2pl\">cabinet statement<\/a>. Members of the Qatari delegation expressed interest in our health and education sectors as well as in building a group of major hotels in the Delta and north Upper Egypt, the statement read. Qatar earlier this year pledged to invest as much as USD 5 bn in Egyptian companies as part of wider Gulf efforts to shore up our economy and provide us with vital FX.<\/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\/investment-watch\/\">investment watch<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/qatar\/\">Qatar<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                    <\/div>\n    <\/div>\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"576886\" 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\/2022\/11\/01\/576886\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-576886\" class=\"content-area-description single-story post-576886 post type-post status-publish format-standard hentry category-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><strong>NOVEMBER<\/strong><\/p>\n<p>1 November (Tuesday): Deadline for importers, exporters and customs brokers to join Nafeza.<\/p>\n<p>1-2 November (Tuesday-Wednesday): Federal Reserve interest rate meeting.<\/p>\n<p>1-2 November (Tuesday-Wednesday): Arab League annual summit, Algiers, Algeria.<\/p>\n<p>3-5 November (Thursday-Saturday): Egypt Fashion Week.<\/p>\n<p>4-6 November (Friday-Sunday): <a href=\"https:\/\/www.autotechegypt.com\/en\/home.html\">Autotech<\/a> auto exhibition, Cairo International Exhibition and Convention Center.<\/p>\n<p>5-8 November (Sunday-Tuesday): Techne Summit for Investment and Entrepreneurship, Alexandria, Egypt<\/p>\n<p>6-18 November (Sunday-Friday): Egypt will host <a href=\"https:\/\/cop27.eg\/\">COP27<\/a> in Sharm El Sheikh.<\/p>\n<p>7 November (Monday): <a href=\"https:\/\/www.greeninitiatives.gov.sa\/about-mgi\/\">Middle East Green Initiative<\/a>, Sharm El Sheikh.<\/p>\n<p>7 November (Monday): The inauguration of the first line of the <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/e2356273-f17c-4a5b-a987-663aab9a2e29\">high-speed rail<\/a>.<\/p>\n<p>9 November (Wednesday): Finance Ministry to host \u201c<a href=\"https:\/\/www.facebook.com\/EgyptianCabinet\/posts\/pfbid029A7ytdAhcMYQsLo8xQ6Ne5FuvWWDty9yYj66v4LMifKZ611tqzps8jkcw4P7fLMhl\">Finance Day<\/a>\u201d at COP27.<\/p>\n<p>11-12 November (Friday-Saturday): <a href=\"https:\/\/www.greeninitiatives.gov.sa\/about-sgi\/\">Saudi Green Initiative<\/a>, Sharm El Sheikh.<\/p>\n<p>7-13 November (Monday-Sunday): The International University Sports Federation (FISU) <a href=\"https:\/\/www.worldsquash.org\/2022-fisu-world-university-championship-squash-to-take-place-in-egypt\/\">World University<\/a> Squash Championships, New Giza.<\/p>\n<p>13 November (Sunday): Senate back in session.<\/p>\n<p>15-16 November (Tuesday-Wednesday): <a href=\"https:\/\/www.g20.org\/bali-summit\/\">G20 summit<\/a>, Bali, Indonesia.<\/p>\n<p>21 November-18 December (Monday-Sunday): 2022 Fifa World Cup, Qatar.<\/p>\n<p>22 November- 23 November (Tuesday-Wednesday): <a href=\"http:\/\/thefingerprintsummit.org\/#\/speakersnew\">The Fingerprint Summit<\/a> will be held at the Nile Ritz Carlton Hotel.<\/p>\n<p>27 - 28 November (Thursday-Friday): The first edition of the <a href=\"https:\/\/twitter.com\/Extranewstv\/status\/1579478836366176256\">Egypt Media Forum<\/a>.<\/p>\n<p>27-30 November (Sunday-Wednesday): <a href=\"https:\/\/cairoict.com\/\">Cairo ICT<\/a>, Egypt International Exhibition Center, New Cairo.<\/p>\n<p><strong>DECEMBER<\/strong><\/p>\n<p>3 December (Saturday): Dior Men\u2019s pre-fall collection show in Giza.<\/p>\n<p>10-12 December (Saturday-Monday): The 2nd edition of the <a href=\"https:\/\/www.facebook.com\/NebuGoldExpo\/\">Nebu Expo for Gold and Jewelry<\/a>kicks off.<\/p>\n<p>13-14 December (Tuesday-Wednesday): Federal Reserve interest rate meeting.<\/p>\n<p>13-15 December (Tuesday-Thursday): US-Africa Leaders Summit.<\/p>\n<p>15 December (Thursday): European Central Bank monetary policy meeting.<\/p>\n<p>22 December (Thursday): Central Bank of Egypt\u2019s Monetary Policy Committee meeting.<\/p>\n<p>December: The Sixth of October dry port <a href=\"https:\/\/bit.ly\/3u3uB4u\">will begin operations<\/a>.<\/p>\n<p>December: Egyptian Automotive Summit.<\/p>\n<p>December: Egypt to <a href=\"https:\/\/bit.ly\/3bVoWYy\">expand Sudan electricity link capacity<\/a> to 300 MW.<\/p>\n<p><strong>JANUARY 2023<\/strong><\/p>\n<p>January: EGX-listed companies and non-bank lenders will submit ESG reports for the first time.<\/p>\n<p>January: Fuel pricing committee meets to decide quarterly fuel prices.<\/p>\n<p>1 January (Sunday): Use of Nafeza <a href=\"https:\/\/www.facebook.com\/EgyptianCabinet\/posts\/381373340699759\">becomes compulsory<\/a> for air freight.<\/p>\n<p>1 January (Sunday): Residential electricity bills are set to rise as per the government\u2019s <a href=\"https:\/\/ent.news\/2020\/6\/%D8%A7%D9%84%D9%85%D8%A4%D8%AA%D9%85%D8%B1-%D8%A7%D9%84%D8%B5%D8%AD%D9%81%D9%89-%D9%84%D8%A3%D8%B3%D8%B9%D8%A7%D8%B1-%D8%A7%D9%84%D9%83%D9%87%D8%B1%D8%A8%D8%A7%D8%A1-%D9%84%D9%84%D8%AE%D9%85%D8%B3-%D8%B3%D9%86%D9%88%D8%A7%D8%AA-%D8%A7%D9%84%D9%82%D8%A7%D8%AF%D9%85%D8%A9-9-6-2020-1.pdf\">six-year roadmap (pdf)<\/a> to restructure electricity prices by 2025.<\/p>\n<p>7 January (Saturday): Coptic Christmas.<\/p>\n<p>24 January-6 February: The 54th Cairo International Book Fair, Egypt International Exhibition Center<\/p>\n<p>25 January (Wednesday): 25 January revolution anniversary \/ Police Day.<\/p>\n<p>26 January (Thursday): National holiday in observance of 25 January revolution anniversary \/ Police Day.<\/p>\n<p>30 January-1 February (Monday-Wednesday): CI Capital\u2019s Annual MENA Investor Conference 2023, Cairo, Egypt.<\/p>\n<p><strong>FEBRUARY 2023<\/strong><\/p>\n<p>11 February (Saturday): Second semester of 2022-2023 academic year begins for public universities.<\/p>\n<p>13-15 February (Monday-Wednesday): The <a href=\"https:\/\/www.egyps.com\/\">Egypt Petroleum Show (Egyps)<\/a>, Egypt International Exhibition Center, Cairo.<\/p>\n<p>23-27 February (Thursday-Monday): Annual Business Women of Egypt\u2019s Women for Success conference.<\/p>\n<p><strong>MARCH 2023<\/strong><\/p>\n<p>March: 4Q2022 earnings season.<\/p>\n<p>23 March (Wednesday): First day of Ramadan (TBC). Maghreb will be at 6:08pm CLT.<\/p>\n<p><strong>APRIL 2023<\/strong><\/p>\n<p>17 April (Monday): Sham El Nessim.<\/p>\n<p>22 April (Saturday): Eid El Fitr (TBC).<\/p>\n<p>25 April (Tuesday): Sinai Liberation Day.<\/p>\n<p>27 April (Thursday): National holiday in observance of Sinai Liberation Day (TBC).<\/p>\n<p>Late April \u2013 15 May: 1Q2023 earnings season.<\/p>\n<p><strong>MAY 2023<\/strong><\/p>\n<p>1 May (Monday): Labor Day.<\/p>\n<p>4 May (Thursday) National holiday in observance of Labor Day (TBC).<\/p>\n<p>22-26 May (Monday-Friday): Egypt <a href=\"https:\/\/www.afdb.org\/en\/news-and-events\/press-releases\/african-development-bank-group-concludes-annual-meetings-governors-endorse-banks-vision-next-10-years-51974#:~:text=The%20new%20Board%20of%20Governors,from%2022%2D26%20May%202023.\">will host<\/a> the African Development Bank (AfDB) annual meetings in Sharm El Sheikh.<\/p>\n<p><strong>JUNE 2023<\/strong><\/p>\n<p>19-21 June (Monday-Wednesday) Egypt Infrastructure and Water Expo <a href=\"https:\/\/ent.news\/2022\/9\/Announcement__EGYPT_INFRASTRUCTURE_AND_WATER_EXPO_LAUNCHES_JUNE_2023.pdf\">debuts<\/a> at the Egypt International Exhibition Center.<\/p>\n<p>28 June-2 July (Wednesday-Sunday): Eid El Adha (TBC).<\/p>\n<p>30 June (Friday): June 30 Revolution Day.<\/p>\n<p><strong>JULY 2023<\/strong><\/p>\n<p>18 July (Tuesday): Islamic New Year.<\/p>\n<p>20 July (Thursday): National holiday in observance of Islamic New Year (TBC).<\/p>\n<p>23 July (Sunday): Revolution Day.<\/p>\n<p>27 July (Thursday): National holiday in observance of Revolution Day.<\/p>\n<p>Late July-14 August: 2Q2023 earnings season.<\/p>\n<p><strong>SEPTEMBER 2023<\/strong><\/p>\n<p>26 September (Tuesday): Prophet Muhammad\u2019s birthday (TBC).<\/p>\n<p>28 September (Thursday): National holiday in observance of Prophet Muhammad\u2019s birthday (TBC).<\/p>\n<p><strong>OCTOBER 2023<\/strong><\/p>\n<p>6 October (Friday): Armed Forces Day.<\/p>\n<p>Late October-14 November: 3Q2023 earnings season.<\/p>\n<p><strong>EVENTS WITH NO SET DATE <\/strong><\/p>\n<p>2H 2022: The inauguration of the Grand Egyptian Museum.<\/p>\n<p>2H 2022: <a href=\"https:\/\/www.ief.org\/news\/egypt-to-host-8th-ief-igu-ministerial-gas-forum-in-2022\">IEF-IGU Ministerial Gas Forum<\/a>, Egypt. Date + location TBA.<\/p>\n<p>2H 2022: The government will have vaccinated 70% of the population.<\/p>\n<p>3Q 2022: Ayady\u2019s consumer financing arm, The Egyptian Company for Consumer Finance Services, to release its first financing product.<\/p>\n<p>3Q 2022: Swvl to close <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/53e17b15-78b9-421a-81f5-9d3d5ee0227d\">acquisition of<\/a><a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/53e17b15-78b9-421a-81f5-9d3d5ee0227d\">Urbvan<\/a><a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/53e17b15-78b9-421a-81f5-9d3d5ee0227d\">Mobility<\/a>.<\/p>\n<p>4Q 2022: Infinity + Africa Finance Corporation to close acquisition of Lekela Power.<\/p>\n<p>End of November: SFE\u2019s pre-IPO fund <a href=\"https:\/\/twitter.com\/AsharqBusiness\/status\/1586689461504589827\">to kick off<\/a>roadshow.<\/p>\n<p>4Q 2022: Electricity Ministry to tender six solar projects in Aswan Governorate.<\/p>\n<p>4Q2022: Raya Holding subsidiary Aman and Qalaa Holdings\u2019 Taqa Arabia to launch their fintech company.<\/p>\n<p>4Q 2022: Saudi Jamjoom Pharma to <a href=\"https:\/\/bit.ly\/3R7SGzP\">inaugurate its EGP 1 bn pharma factory<\/a> in El Obour.<\/p>\n<p>End of 2022: Decent Life first phase scheduled for completion.<\/p>\n<p>End of 2022: e-Aswaaq\u2019s tourism platform will complete the roll out of its ticketing and online booking portal across Egypt.<\/p>\n<p>2023: Egypt <a href=\"https:\/\/www.facebook.com\/EgyptianCabinet\/posts\/380561820780911\">will host<\/a> the Asian Infrastructure Investment Bank\u2019s Annual Meeting of the Board of Governors in 2023.<\/p>\n<p>1Q 2023: Adnoc Distribution\u2019s acquisition of 50% of TotalEnergies Egypt to close.<\/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":576861,"menu_order":0,"template":"","categories":[],"tags":[],"class_list":["post-576860","issue","type-issue","status-publish","has-post-thumbnail","hentry","wpautop","entry"],"acf":{"mongo_id":"43a2cb3c-4392-42d8-a948-266568690aa6","teaser":"","photo_url":"https:\/\/ent.news\/2022\/11\/1.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>IMF gives us kudos for deval as EGP appears to be hitting the bottom against the greenback - 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\/imf-gives-us-kudos-for-deval-as-egp-appears-to-be-hitting-the-bottom-against-the-greenback\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"IMF gives us kudos for deval as EGP appears to be hitting the bottom against the greenback\" \/>\n<meta property=\"og:url\" content=\"https:\/\/enterpriseam.com\/egypt\/issues\/imf-gives-us-kudos-for-deval-as-egp-appears-to-be-hitting-the-bottom-against-the-greenback\/\" \/>\n<meta property=\"og:site_name\" content=\"EnterpriseAM Egypt\" \/>\n<meta property=\"article:modified_time\" content=\"2025-12-16T11:02:33+00:00\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:image\" content=\"https:\/\/i0.wp.com\/ent.news\/2022\/11\/1.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\/imf-gives-us-kudos-for-deval-as-egp-appears-to-be-hitting-the-bottom-against-the-greenback\/\",\"url\":\"https:\/\/enterpriseam.com\/egypt\/issues\/imf-gives-us-kudos-for-deval-as-egp-appears-to-be-hitting-the-bottom-against-the-greenback\/\",\"name\":\"IMF gives us kudos for deval as EGP appears to be hitting the bottom against the greenback - EnterpriseAM Egypt\",\"isPartOf\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/#website\"},\"primaryImageOfPage\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/issues\/imf-gives-us-kudos-for-deval-as-egp-appears-to-be-hitting-the-bottom-against-the-greenback\/#primaryimage\"},\"image\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/issues\/imf-gives-us-kudos-for-deval-as-egp-appears-to-be-hitting-the-bottom-against-the-greenback\/#primaryimage\"},\"thumbnailUrl\":\"https:\/\/i0.wp.com\/ent.news\/2022\/11\/1.jpg?fit=%2C&ssl=1\",\"datePublished\":\"2022-11-01T04:00:05+00:00\",\"dateModified\":\"2025-12-16T11:02:33+00:00\",\"breadcrumb\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/issues\/imf-gives-us-kudos-for-deval-as-egp-appears-to-be-hitting-the-bottom-against-the-greenback\/#breadcrumb\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\/\/enterpriseam.com\/egypt\/issues\/imf-gives-us-kudos-for-deval-as-egp-appears-to-be-hitting-the-bottom-against-the-greenback\/\"]}]},{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/enterpriseam.com\/egypt\/issues\/imf-gives-us-kudos-for-deval-as-egp-appears-to-be-hitting-the-bottom-against-the-greenback\/#primaryimage\",\"url\":\"https:\/\/i0.wp.com\/ent.news\/2022\/11\/1.jpg?fit=%2C&ssl=1\",\"contentUrl\":\"https:\/\/i0.wp.com\/ent.news\/2022\/11\/1.jpg?fit=%2C&ssl=1\"},{\"@type\":\"BreadcrumbList\",\"@id\":\"https:\/\/enterpriseam.com\/egypt\/issues\/imf-gives-us-kudos-for-deval-as-egp-appears-to-be-hitting-the-bottom-against-the-greenback\/#breadcrumb\",\"itemListElement\":[{\"@type\":\"ListItem\",\"position\":1,\"name\":\"Home\",\"item\":\"https:\/\/enterpriseam.com\/egypt\/\"},{\"@type\":\"ListItem\",\"position\":2,\"name\":\"Issues\",\"item\":\"https:\/\/enterpriseam.com\/egypt\/AMarchives\/\"},{\"@type\":\"ListItem\",\"position\":3,\"name\":\"IMF gives us kudos for deval as EGP appears to be hitting the bottom against the greenback\"}]},{\"@type\":\"WebSite\",\"@id\":\"https:\/\/enterpriseam.com\/egypt\/#website\",\"url\":\"https:\/\/enterpriseam.com\/egypt\/\",\"name\":\"EnterpriseAM\",\"description\":\"The State of the Nation\",\"publisher\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/#organization\"},\"potentialAction\":[{\"@type\":\"SearchAction\",\"target\":{\"@type\":\"EntryPoint\",\"urlTemplate\":\"https:\/\/enterpriseam.com\/egypt\/?s={search_term_string}\"},\"query-input\":{\"@type\":\"PropertyValueSpecification\",\"valueRequired\":true,\"valueName\":\"search_term_string\"}}],\"inLanguage\":\"en-US\"},{\"@type\":\"Organization\",\"@id\":\"https:\/\/enterpriseam.com\/egypt\/#organization\",\"name\":\"EnterpriseAM\",\"url\":\"https:\/\/enterpriseam.com\/egypt\/\",\"logo\":{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/enterpriseam.com\/egypt\/#\/schema\/logo\/image\/\",\"url\":\"https:\/\/ent.news\/internal\/240894.svg\",\"contentUrl\":\"https:\/\/ent.news\/internal\/240894.svg\",\"caption\":\"EnterpriseAM\"},\"image\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/#\/schema\/logo\/image\/\"}}]}<\/script>\n<!-- \/ Yoast SEO Premium plugin. -->","yoast_head_json":{"title":"IMF gives us kudos for deval as EGP appears to be hitting the bottom against the greenback - EnterpriseAM Egypt","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/enterpriseam.com\/egypt\/issues\/imf-gives-us-kudos-for-deval-as-egp-appears-to-be-hitting-the-bottom-against-the-greenback\/","og_locale":"en_US","og_type":"article","og_title":"IMF gives us kudos for deval as EGP appears to be hitting the bottom against the greenback","og_url":"https:\/\/enterpriseam.com\/egypt\/issues\/imf-gives-us-kudos-for-deval-as-egp-appears-to-be-hitting-the-bottom-against-the-greenback\/","og_site_name":"EnterpriseAM Egypt","article_modified_time":"2025-12-16T11:02:33+00:00","twitter_card":"summary_large_image","twitter_image":"https:\/\/i0.wp.com\/ent.news\/2022\/11\/1.jpg?fit=%2C&ssl=1","schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"WebPage","@id":"https:\/\/enterpriseam.com\/egypt\/issues\/imf-gives-us-kudos-for-deval-as-egp-appears-to-be-hitting-the-bottom-against-the-greenback\/","url":"https:\/\/enterpriseam.com\/egypt\/issues\/imf-gives-us-kudos-for-deval-as-egp-appears-to-be-hitting-the-bottom-against-the-greenback\/","name":"IMF gives us kudos for deval as EGP appears to be hitting the bottom against the greenback - EnterpriseAM Egypt","isPartOf":{"@id":"https:\/\/enterpriseam.com\/egypt\/#website"},"primaryImageOfPage":{"@id":"https:\/\/enterpriseam.com\/egypt\/issues\/imf-gives-us-kudos-for-deval-as-egp-appears-to-be-hitting-the-bottom-against-the-greenback\/#primaryimage"},"image":{"@id":"https:\/\/enterpriseam.com\/egypt\/issues\/imf-gives-us-kudos-for-deval-as-egp-appears-to-be-hitting-the-bottom-against-the-greenback\/#primaryimage"},"thumbnailUrl":"https:\/\/i0.wp.com\/ent.news\/2022\/11\/1.jpg?fit=%2C&ssl=1","datePublished":"2022-11-01T04:00:05+00:00","dateModified":"2025-12-16T11:02:33+00:00","breadcrumb":{"@id":"https:\/\/enterpriseam.com\/egypt\/issues\/imf-gives-us-kudos-for-deval-as-egp-appears-to-be-hitting-the-bottom-against-the-greenback\/#breadcrumb"},"inLanguage":"en-US","potentialAction":[{"@type":"ReadAction","target":["https:\/\/enterpriseam.com\/egypt\/issues\/imf-gives-us-kudos-for-deval-as-egp-appears-to-be-hitting-the-bottom-against-the-greenback\/"]}]},{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/enterpriseam.com\/egypt\/issues\/imf-gives-us-kudos-for-deval-as-egp-appears-to-be-hitting-the-bottom-against-the-greenback\/#primaryimage","url":"https:\/\/i0.wp.com\/ent.news\/2022\/11\/1.jpg?fit=%2C&ssl=1","contentUrl":"https:\/\/i0.wp.com\/ent.news\/2022\/11\/1.jpg?fit=%2C&ssl=1"},{"@type":"BreadcrumbList","@id":"https:\/\/enterpriseam.com\/egypt\/issues\/imf-gives-us-kudos-for-deval-as-egp-appears-to-be-hitting-the-bottom-against-the-greenback\/#breadcrumb","itemListElement":[{"@type":"ListItem","position":1,"name":"Home","item":"https:\/\/enterpriseam.com\/egypt\/"},{"@type":"ListItem","position":2,"name":"Issues","item":"https:\/\/enterpriseam.com\/egypt\/AMarchives\/"},{"@type":"ListItem","position":3,"name":"IMF gives us kudos for deval as EGP appears to be hitting the bottom against the greenback"}]},{"@type":"WebSite","@id":"https:\/\/enterpriseam.com\/egypt\/#website","url":"https:\/\/enterpriseam.com\/egypt\/","name":"EnterpriseAM","description":"The State of the Nation","publisher":{"@id":"https:\/\/enterpriseam.com\/egypt\/#organization"},"potentialAction":[{"@type":"SearchAction","target":{"@type":"EntryPoint","urlTemplate":"https:\/\/enterpriseam.com\/egypt\/?s={search_term_string}"},"query-input":{"@type":"PropertyValueSpecification","valueRequired":true,"valueName":"search_term_string"}}],"inLanguage":"en-US"},{"@type":"Organization","@id":"https:\/\/enterpriseam.com\/egypt\/#organization","name":"EnterpriseAM","url":"https:\/\/enterpriseam.com\/egypt\/","logo":{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/enterpriseam.com\/egypt\/#\/schema\/logo\/image\/","url":"https:\/\/ent.news\/internal\/240894.svg","contentUrl":"https:\/\/ent.news\/internal\/240894.svg","caption":"EnterpriseAM"},"image":{"@id":"https:\/\/enterpriseam.com\/egypt\/#\/schema\/logo\/image\/"}}]}},"jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/issue\/576860","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/issue"}],"about":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/types\/issue"}],"version-history":[{"count":1,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/issue\/576860\/revisions"}],"predecessor-version":[{"id":576901,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/issue\/576860\/revisions\/576901"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/media\/576861"}],"wp:attachment":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/media?parent=576860"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/categories?post=576860"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/tags?post=576860"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}