{"id":576902,"date":"2022-11-02T04:00:01","date_gmt":"2022-11-02T04:00:01","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/?post_type=issue&#038;p=576902"},"modified":"2025-12-16T11:03:30","modified_gmt":"2025-12-16T11:03:30","slug":"egypt-could-host-the-worlds-second-largest-wind-farm","status":"publish","type":"issue","link":"https:\/\/enterpriseam.com\/egypt\/issues\/egypt-could-host-the-worlds-second-largest-wind-farm\/","title":{"rendered":"Egypt could host the world\u2019s second-largest wind farm"},"content":{"rendered":"<section id=\"576904\" 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=\"576904\">\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\/02\/this-morning-egp-at-24-24-mubadala-energy-to-set-up-a-regional-hq-in-egypt\/\">\r\n                            THIS MORNING: EGP at 24.24 + Mubadala Energy to set up a regional HQ 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\/02\/this-morning-egp-at-24-24-mubadala-energy-to-set-up-a-regional-hq-in-egypt\/\" target=\"_blank\">\n      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class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-576904\" class=\"content-area-description single-story post-576904 post type-post status-publish format-standard hentry category-what-were-tracking-today tag-adipec-2022 tag-enterpriseam tag-mubadala tag-russia tag-sp-global tag-suez-cement-group tag-tarek-el-molla tag-ukraine tag-what-were-tracking-today tag-wheat wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<aside>\t\t\t<div\r\n\t\t\t\t\t\t\t\tclass=\"newspack-popup-container newspack-popup hidden  newspack-inline-popup  newspack-lightbox-no-border   \"\r\n\t\t\t\trole=\"button\"\r\n\t\t\t\ttabindex=\"0\"\r\n\t\t\t\tstyle=\"background-color:#FFFFFF;color:#000\"\r\n\t\t\t\tid=\"id_27645\"\r\n\t\t\t\tdata-segments=\"\"\r\n\t\t\t\tdata-frequency=\"0,0,0,month\"\r\n\t\t\t>\r\n\t\t\t\t\n<div class=\"wp-block-group has-light-gray-background-color has-background\" style=\"padding-top:0px;padding-right:0px;padding-bottom:0px;padding-left:0px\"><div class=\"wp-block-group__inner-container is-layout-constrained wp-container-core-group-is-layout-ef38739e wp-block-group-is-layout-constrained\">\n<div class=\"wp-block-group is-content-justification-center is-nowrap is-layout-flex wp-container-core-group-is-layout-94bc23d7 wp-block-group-is-layout-flex\">\n<p class=\"f-graphik\" style=\"font-size:14px\">Together with<\/p>\n\n\n<div class=\"wp-block-image\">\n<figure class=\"aligncenter size-full\"><img decoding=\"async\" src=\"https:\/\/s3.amazonaws.com\/resources.inktankir.com\/internal\/27482.svg\" alt=\"\" class=\"wp-image-27482\"\/><\/figure>\n<\/div><\/div>\n<\/div><\/div>\n\t\t\t<\/div>\r\n\t\t<\/aside>\n<p><strong>Good morning, wonderful people, and welcome to another very brisk news day.<\/strong> We have a bit of everything this morning, from M&amp;A to investments in energy, and the imminent release of some goods from customs.<\/p><p><strong>Also today: <\/strong>It\u2019s PMI and Fed day (as we note below) and the second-to-last business day before COP27 kicks off \u2014 there will be plenty for us to think about together over the next 48 hours before the news storm that is COP begins.<\/p><hr class=\"grey-line\"><p><strong>MORE OF THIS, PLEASE <\/strong><strong>Mubadala Energy is going to set up a regional headquarters in <\/strong><strong>Cairo<\/strong>, CEO Mansoor Al Hamed told Oil Minister Tarek El Molla. Mubadala Energy (formerly known as <a href=\"https:\/\/www.facebook.com\/EgyptMOP\/posts\/pfbid0f1EGUDEhtd47PsrXNaXgPAEjVWwP6ck4eDq3znPkiZ1C96ZxfFuw4PkMYN13Jbv2l\">Mubadala Petroleum<\/a>) also wants to invest in our renewables and LNG sectors, the <a href=\"https:\/\/www.facebook.com\/EgyptMOP\/posts\/pfbid0f1EGUDEhtd47PsrXNaXgPAEjVWwP6ck4eDq3znPkiZ1C96ZxfFuw4PkMYN13Jbv2l?__cft__%5B0%5D=AZXc_lsiVdi84ZMePSzUTywSoiAFpzlrnA1ylfF_dyTs3PNgf2Ww9oSdItHqBkeTvqABErQN96iANtxqEkQtzFFE7hVJpFL6jqZ2cOYzEQLasLTPPXg7bb58u4J0yJcHlyaLa7cKAuY23ezC4x49JpYSfZUWI2o-D8QodLJtaIi7Ux2B55Qo2cf9CzXlPXMpuR8&amp;__tn__=%2CO%2CP-R\">Oil Ministry<\/a> said.<\/p><p><strong>In context: Mubadala\u2019s move underscores the success of the Oil Ministry\u2019s consistent, <\/strong><strong>focused effort to transform Egypt into an <\/strong><strong><a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/144e60dc-4f26-49d0-bffe-036d93c2b319\">energy hub for the Eastern Med<\/a><\/strong><strong>. <\/strong>The Oil Ministry understands long-term planning horizons and has for years helped lead the charge to turn us into a significant exporter of LNG (ours and more from Israel). Together with the Electricity Ministry, officials are now aiming higher, positioning us as the region\u2019s premier energy hub by adding electricity to the mix (we have excess generation capacity and links in place or coming to Europe, <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/a166cb34-38b1-4c57-bacd-04bbbb98163a\">Jordan<\/a>, Sudan and Saudi Arabia, among others) and getting into the <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/fe699a87-d7a1-40a1-891e-4bdc4a1ceec8\">burgeoning<\/a> green hydrogen and green ammonia <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/022ca147-bb08-4bb6-ba62-361b7381da4c\">markets<\/a>.<\/p><p><strong>Other industries should follow suit. <\/strong>Our rents, abundance of talent and land, and geographic location make Egypt an ideal base for regional and multinational countries that want to export to (or otherwise do business in) any two of Southeastern Europe, the GCC and Africa. It\u2019s almost like \u2014 if we thought about it and were focused \u2014 we <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/edition\/am\/feeda831-c0fd-43df-b197-08ddb74254e7\">could become a magnet for FDI and exports<\/a>\u2026<\/p><hr class=\"grey-line\"><p><a id=\"tldr-story-03\" class=\"content-anchor\"><\/a> <strong>EGP WATCH- The EGP edged slightly lower against the greenback yesterday<\/strong>, slipping another 0.2% to close the day at 24.2417, according to central bank figures. The currency has now fallen 22.6% since the central bank moved to what it called a \u201cdurably flexible\u201d exchange rate last Thursday, and is down 53.6% since the initial devaluation in March.<\/p><p><strong>PSA #1- The always-on-point Charlie Robertson is doing a talk on his new book, The <\/strong><strong>Time Traveling Economist<\/strong> tomorrow (Thursday, 3 November) at 5pm CLT. The chat will \u201coutline what has held Egypt back in the 20th century and why we should expect a boom time for the economy from about 2025-30 onwards,\u201d Charlie says. The talk is being hosted by the Egyptian Private Equity Association\u2019s Sara Badran and <a href=\"https:\/\/rencap.zoom.us\/webinar\/register\/WN_3HPKQa4FRY-I9G7QKYFKEw\">you can sign up here<\/a>.<\/p><p><strong>PSA #2- There is no rain in the Cairo forecast for today<\/strong> after the surprise showers yesterday in the capital city. Look for a high today of 26\u00b0C in Cairo and Alex (29\u00b0C in El Gouna) and an overnight lwow of around 14\u00b0C.<\/p><p><strong>HAPPENING TODAY-<\/strong><\/p><p><strong>It\u2019s PMI day:<\/strong> We\u2019ll know how Egypt\u2019s private sector fared in October tomorrow when S&amp;P Global releases the latest purchasing managers\u2019 index at 6:15 CLT. A 22-month contraction in private sector activity didn\u2019t show signs of abating <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/2b7956e2-bf64-4f31-872d-460d0234cc4f\">in September<\/a> as high inflation continued to weigh on demand and output.<\/p><p><a id=\"tldr-story-07\" class=\"content-anchor\"><\/a> <strong>The <\/strong><strong><a href=\"https:\/\/www.arabsummit2022.dz\/\">Arab League summit<\/a><\/strong><strong> wraps in Algeria: <\/strong>President Abdel Fattah El Sisi is among the attendees at the regional summit, which will be the first since the start of the covid-19 pandemic two years ago. Attendance isn\u2019t exactly strong this year, with a third of Arab leaders absent from the gathering for various reasons, while a diplomatic spat between the hosts and Morocco mean that the chances of any diplomatic breakthroughs are slim.<\/p><p><strong>Yesterday:<\/strong> El Sisi discussed COP27 with UN Secretary-General Antonio Guterres on the sidelines of the summit, according to an <a href=\"https:\/\/www.facebook.com\/Egy.Pres.Spokesman\/posts\/pfbid02aHf6WYNCjTojBuhHYdQ5iYBfpTcCb8fkSExHwNzRbf1m4nB1coYrRComRAobVARhl\">Ittihadiya readout<\/a> that was otherwise short on details.<\/p><p><strong><a href=\"https:\/\/www.adipec.com\/\">Adipec 2022<\/a><\/strong><strong> continues in Abu Dhabi:<\/strong> Expect more headlines today from Oil Minister Tarek El Molla who is in the Emirati capital for the oil and gas expo. Highlights from day two of the conference:<\/p><ul>\n<li><strong>Egypt plans to hold new international <\/strong><strong>tenders for oil and gas exploration<\/strong> before the end of the year, El Molla told Al Arabiya (<a href=\"https:\/\/bit.ly\/3zzCOAi\">watch<\/a><a href=\"https:\/\/bit.ly\/3zzCOAi\">, runtime: 1:55<\/a>). The tenders will cover exploration blocks in the Mediterranean, Western Desert and the Eastern Desert, he said. Egypt will also hold an international tender for minerals other than gold in the Eastern Desert before the end of the year, he revealed.<\/li>\n<li><strong>Egypt to export Libyan gas?<\/strong> Libya's National Oil Corporation is considering building new gas pipelines to Damietta \u2014 home to one of Egypt\u2019s two LNG facilities \u2014 and Greece, Chairman Farhat bin Qadara told <a href=\"https:\/\/bit.ly\/3UdGjEn\">CNBC Arabia<\/a>.<\/li>\n<\/ul><p><strong>IN THE HOUSE-<\/strong><\/p><p><strong>Simplifying property registration in new cities:<\/strong> MPs could take a final vote today on amendments that will simplify the real estate registry and notarization process in new urban communities. Under the changes, owners of property and plots of land in new cities won\u2019t be required to interact with the real estate registry and notarization offices and will only need to submit registration paperwork to the New Urban Communities Authority (NUCA). <strong>The move is aimed at creating a more attractive environment for private investment in new cities<\/strong>, said Ibrahim El Heneidy, who chairs the House Constitutional and Legislative Affairs Committee. MPs gave preliminary approval to the bill yesterday.<\/p><p><strong>Local Development Minister Hesham Amna will be in the hot seat today<\/strong>, answering MPs\u2019 questions on the growing rate of illegal construction, the proliferation of garbage in the streets, and what the government is doing to prepare for what meteorologists suggest could be heavy rainfall and floods this winter.<\/p><p class=\"web-image\"><img data-recalc-dims=\"1\" decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2018\/11\/Jerome-Powell-web.jpg?ssl=1\" alt=\"enterprise\"><\/p><p><a id=\"tldr-story-08\" class=\"content-anchor\"><\/a> <strong>It\u2019s Fed day:<\/strong> The US Federal Reserve is expected to announce its fourth consecutive 75-bps interest rate hike at the end of its two-day policy meeting later today. Recent data has shown that inflation continued apace in September despite the central bank raising rates by 300 bps over the past seven months, all but guaranteeing another hawkish move today. A 75-bps hike would raise the central bank\u2019s target range to 3.75-4% \u2014 its highest level since early 2008.<\/p><p><strong>How long will the Fed keep this up?<\/strong> Analysts are again warning about the possibility of a US recession, which will only get more severe the longer the Fed tries to fight inflation with aggressive rate hikes. The <a href=\"https:\/\/www.ft.com\/content\/18cfa0e6-c10f-413a-96b8-cc6118e4e84f\">Financial Times<\/a> has the story.<\/p><p><strong>The Bank of England is expected to follow suit tomorrow<\/strong> in what <a href=\"https:\/\/www.bloomberg.com\/news\/articles\/2022-10-29\/fed-and-boe-prepare-75-basis-point-salvos-on-inflation-eco-week?sref=mmeFTDW1\">Bloomberg<\/a> says would be its largest rate-hike since 1989.<\/p><p><strong>The BOE is the canary in the coalmine:<\/strong> The BOE yesterday became the first major central bank to begin unwinding its massive GBP 830 bn bond portfolio built up via quantitative easing since 2008. The central bank sold GBP 750 mn worth of bonds yesterday in an auction that was more than 3x oversubscribed, <a href=\"https:\/\/www.bloomberg.com\/news\/articles\/2022-11-01\/bank-of-england-sells-750-million-of-bonds-in-first-qt-auction?sref=mmeFTDW1\">Bloomberg<\/a> reported. \u201cTightening monetary policy through the interest-rate channel is tried and tested,\u201d Paul Hollingsworth, chief European economist at BNP Paribas, <a href=\"https:\/\/www.bloomberg.com\/news\/articles\/2022-11-01\/boe-set-to-take-historic-step-in-unwinding-838-billion-stimulus?sref=mmeFTDW1\">told the news outlet<\/a>. \u201cWith [quantitative tightening], central banks are entering uncharted waters \u2014 the risks of unintended consequences are clearly higher.\u201d<\/p><p><strong>REMEMBER- There\u2019s no interest rate meeting here at home this week<\/strong> after the Central Bank of Egypt raised rates by 200 bps at an extraordinary meeting last Thursday.<\/p><p class=\"web-image\"><img data-recalc-dims=\"1\" decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2022\/10\/COP27-1600px.jpg?ssl=1\" alt=\"enterprise\"><\/p><p><strong>COUNTDOWN TO COP (4 days to go)-<\/strong><\/p><p><strong>Compensation to emerging economies for climate loss and damage looks increasingly on track to be the #1 topic of discussion <\/strong>at COP27, <a href=\"https:\/\/enterprise.news\/climate\/en\/news\/story\/39c72491-f1c7-4fe9-89fe-45a7f214edff\">Enterprise Climate<\/a> reports this morning.<\/p><p><a id=\"tldr-story-10\" class=\"content-anchor\"><\/a> <strong>G20 nations are backsliding on climate pledges:<\/strong> Financing out of G20 countries for fossil fuels rose 16% in 2021 to USD 693 bn, delivering a setback to global climate pledges, according to a <a href=\"https:\/\/www.bloomberg.com\/news\/articles\/2022-11-01\/fossil-fuel-support-by-g-20-nations-surges-to-highest-since-2014?sref=mmeFTDW1\">Bloomberg<\/a> report. This is the highest amount of annual financing since 2014. Such financing \u201cdistorted prices, encouraged potentially wasteful use and production of fossil fuels, and resulted in investment into long-lived, emission-intensive equipment and infrastructure,\u201d the report\u2019s analysts said.<\/p><p><strong>GFANZ wants G20 nations to do better with their climate ambitions: <\/strong>The Glasgow Financial Alliance for Net Zero (GFANZ) has called on G20 policymakers to set more ambitious climate targets and to publish more detailed decarbonization strategies, according to <a href=\"https:\/\/www.reuters.com\/business\/cop\/carney-led-finance-group-calls-more-g20-climate-plan-details-2022-11-01\/\">Reuters<\/a>. Current targets set by G20 countries are not enough to meet global climate goals.<\/p><p><strong>Our friends at the UAE\u2019s <\/strong><strong><a href=\"https:\/\/www.mashreqbank.com\/en\/uae\/personal\/\">Mashreq Bank<\/a><\/strong><strong> are now sponsors of COP27<\/strong> after the bank signed an MoU with Egypt\u2019s COP Presidency, according to <a href=\"https:\/\/ent.news\/2022\/11\/Mashreq_COP27-Sponsorship-MOU_EN.pdf\">a statement (pdf)<\/a>. Mashreq will take part in panel discussions on Finance Day (9 November) and Energy Day (15 November). It will also hold separate discussions with customers and partners on the ground to provide guidance and advice for those exploring sustainable financing, the statement adds. The bank has facilitated the provision of some USD 11.7 bn in sustainable finance across the GCC, Africa, Turkey and India in the past two years, according to the statement.<\/p><p><strong>What they said:<\/strong> Group CEO Ahmed Abdelaal noted that beyond the clear need to \u201cprotect people and planet,\u201d Mashreq sees \u201cthe transition to a low carbon and resilient economy as a real opportunity to double our commitment to sustainable finance and invest in sectors that will drive economic growth and create the jobs of tomorrow.\u201d<\/p><p><strong>Mashreq joins a roster of corporate backers of COP27<\/strong> that includes our friends at: Al Mansour Automotive, Infinity Power, Orascom Construction, Hassan Allam Holding, SODIC, Google, and Coca-Cola, among others.<\/p><hr class=\"grey-line\"><p><strong>THE BIG STORIES ABROAD-<\/strong><\/p><p><strong>A familiar face is on the verge of winning power in Israel:<\/strong> Former prime minister Benjamin Netanyahu is on track to return to power according to exit polls from yesterday\u2019s general election that gave his right-wing coalition a slender majority in the Knesset. Netanyahu, whose bid for the premiership comes despite him being on trial on corruption charges, looked on course to take 61 or 62 seats in the 120-seat legislature. <strong>It\u2019s Israel\u2019s fifth election in four years. <\/strong>(<a href=\"https:\/\/apnews.com\/article\/middle-east-israel-benjamin-netanyahu-national-elections-9ffce2c686db5a868ae781bc104180f6?utm_source=homepage&amp;utm_medium=TopNews&amp;utm_campaign=position_01\">Associated Press<\/a> | <a href=\"https:\/\/www.reuters.com\/world\/middle-east\/netanyahu-bids-comeback-tight-israeli-election-2022-10-31\/\">Reuters<\/a> | <a href=\"https:\/\/www.bloomberg.com\/news\/articles\/2022-11-01\/israeli-exit-polls-show-netanyahu-with-chance-to-return-to-power?srnd=premium-middle-east&amp;sref=mmeFTDW1\">Bloomberg<\/a> | <a href=\"https:\/\/www.wsj.com\/articles\/israelis-head-to-polls-in-fifth-election-since-2019-11667249721?mod=hp_lead_pos3\">WSJ<\/a>).<\/p><p><strong>Musk\u2019s shake-up at Twitter is getting attention in the business press:<\/strong> Twitter\u2019s new CEO says the company will offer a USD 8 per month premium subscription service, allowing users to obtain the coveted \u201cblue tick\u201d verification, increase engagement with posts and reduce ads. (<a href=\"https:\/\/www.wsj.com\/articles\/elon-musk-hints-at-8-monthly-subscription-for-twitters-verified-users-11667316378\">WSJ<\/a> | <a href=\"https:\/\/www.ft.com\/content\/3c2b147a-864c-475c-8d0f-7f1dcf534e5a\">FT<\/a>)<\/p><p><strong>Erdogan is trying to save the Ukraine grain pact:<\/strong> Turkish President Recep Tayyib Erdogan told Russian counterpart Vladimir Putin that he was working to \u201cto solve the problems with all parties\u201d and save the landmark agreement that has enabled Ukraine to export mns of tones of grain, according to the <a href=\"https:\/\/www.ft.com\/content\/8978e058-4173-4518-bcd5-2dab417ee4b6\">Financial Times<\/a> reported. Russia pulled out of the UN- and Turkey-brokered agreement last week following a drone attack on its Black Sea fleet in Crimea, which it blamed on Ukraine. Though ships are continuing to set sail through the Black Sea, global <a href=\"https:\/\/www.bloomberg.com\/news\/articles\/2022-10-31\/wheat-soars-after-russia-exits-pact-allowing-ukraine-exports?sref=mmeFTDW1\">wheat prices have soared<\/a> and traders say that grain deliveries to Ukraine\u2019s ports are slowing.<\/p><p><strong>Keep calm and carry on: <\/strong>Our wheat supply may be \u201ctemporarily affected\u201d by Russia\u2019s exit from the UN-brokered grain pact with Ukraine, but the country can \u201cadjust,\u201d Supply Minister Ali El Moselhy reportedly told <a href=\"https:\/\/www.reuters.com\/markets\/commodities\/global-events-may-affect-egypts-wheat-supply-temporarily-egyptian-supply-2022-11-01\/\">Reuters<\/a> yesterday. Global wheat supply is sufficient to cover the world\u2019s needs, he added.<\/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>CLARIFICATION- <\/strong>We wrote in Monday\u2019s edition of EnterpriseAM that importers, exporters and customs agents had until 1 November to register to join the Finance Ministry\u2019s digital customs system Nafeza before they can no longer clear goods out of customs at seaports. In fact, yesterday was the deadline by which shippers were encouraged to have registered to receive an e-signature in order to process transactions through the Nafeza system, sources at the Finance Ministry told Enterprise.<\/p><p><strong>CIRCLE YOUR CALENDAR-<\/strong><\/p><p><strong>Key news triggers coming up over the next week:<\/strong><\/p><ul>\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><strong>SPX to open for international flights next month:<\/strong> Sphinx International Airport will begin operating international flights to several European and Arab countries starting 1 December, state-owned <a href=\"https:\/\/bit.ly\/3UdDqDB\">Al Akhbar Al Yom<\/a> reported yesterday. The airport is opening to domestic flights this month and yesterday received the first flight operated by Air Cairo from Sharm El Sheikh, <a href=\"https:\/\/gate.ahram.org.eg\/News\/3770078.aspx\">Al Ahram<\/a> reported.<\/p><p><strong><a href=\"https:\/\/enterprise.press\/am-edition\/#calendar\">Check out our full calendar on the web<\/a><\/strong> for a comprehensive listing of upcoming news events, national holidays and news triggers.<\/p><p class=\"web-image\"><img data-recalc-dims=\"1\" decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2020\/1\/Web-view-01.jpg?ssl=1\" alt=\"enterprise\"><\/p><p><strong>*** It\u2019s Hardhat day \u2014 your weekly briefing of all things infrastructure in Egypt:<\/strong> Enterprise\u2019s industry vertical focuses each Wednesday on infrastructure, covering everything from energy, water, transportation, and urban development, as well as social infrastructure such as health and education.<\/p><p><strong>In today\u2019s issue: <\/strong><strong>How our plans to build a new commercial maritime fleet are faring:<\/strong> Earlier this year, the government began working on boosting the country\u2019s commercial maritime fleet to increase the number of vessels sailing under the country\u2019s flag. Transport Minister Kamel El Wazir held meetings in <a href=\"https:\/\/bit.ly\/3REHo6O\">September<\/a> with the maritime transport sector and private shipping companies, and <a href=\"https:\/\/bit.ly\/3DpFPnX\">recently pitched<\/a> Belgian companies on investing in Egypt\u2019s commercial maritime fleet. Although the government is pushing forward with the plan, it could meet some headwinds from a projected fall in freight rates and higher costs of shipbuilding and shipyards development at ports, industry sources told Enterprise.<\/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\/adipec-2022\/\">ADIPEC 2022<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/mubadala\/\">Mubadala<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/russia\/\">Russia<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/sp-global\/\">S&amp;P Global<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/suez-cement-group\/\">Suez Cement Group<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/tarek-el-molla\/\">Tarek El Molla<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/ukraine\/\">Ukraine<\/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                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/wheat\/\">wheat<\/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=\"576905\" 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=\"576905\">\r\n            \r\n            <div class=\"story__body\">\r\n\r\n                <a href=\"https:\/\/enterpriseam.com\/egypt\/2022\/11\/02\/576905\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-576905\" class=\"content-area-description single-story post-576905 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=\"576906\" 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=\"576906\">\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\">Energy<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2022\/11\/02\/acwa-unit-looks-to-build-worlds-second-largest-wind-farm-in-egypt\/\">\r\n                            ACWA unit looks to build world\u2019s second-largest wind farm 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\/02\/acwa-unit-looks-to-build-worlds-second-largest-wind-farm-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\/02\/acwa-unit-looks-to-build-worlds-second-largest-wind-farm-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\/02\/acwa-unit-looks-to-build-worlds-second-largest-wind-farm-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=ACWA unit looks to build world\u2019s second-largest wind farm in Egypt&url=https:\/\/enterpriseam.com\/egypt\/2022\/11\/02\/acwa-unit-looks-to-build-worlds-second-largest-wind-farm-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\/02\/acwa-unit-looks-to-build-worlds-second-largest-wind-farm-in-egypt\/&title=ACWA unit looks to build world\u2019s second-largest wind farm 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=ACWA+unit+looks+to+build+world%E2%80%99s+second-largest+wind+farm+in+Egypt+https%3A%2F%2Fenterpriseam.com%2Fegypt%2F2022%2F11%2F02%2Facwa-unit-looks-to-build-worlds-second-largest-wind-farm-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\/02\/acwa-unit-looks-to-build-worlds-second-largest-wind-farm-in-egypt\/\">\r\n                    <div class=\"photo photo--above\">\r\n                        <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2022\/11\/52.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"576907\" data-permalink=\"https:\/\/enterpriseam.com\/egypt\/2022\/11\/02\/acwa-unit-looks-to-build-worlds-second-largest-wind-farm-in-egypt\/52-jpg-14\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2022\/11\/52.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"52.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2022\/11\/52.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2022\/11\/52.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-576906\" class=\"content-area-description single-story post-576906 post type-post status-publish format-standard has-post-thumbnail hentry category-energy tag-acwa-power tag-energy tag-enterpriseam tag-renewables 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-01\"><\/a> <strong>ACWA Power could build one of the world\u2019s largest wind farms in Egypt:<\/strong> Saudi renewable energy developer ACWA Power will build a 10-GW wind farm in Egypt after signing an MoU with Egypt\u2019s New and Renewable Energy Authority (NREA) and the Egyptian Electricity Transmission Company (EETC) yesterday, the Saudi Energy Ministry said in <a href=\"https:\/\/bit.ly\/3fq1Afn\">a statement<\/a> yesterday. The MoU was signed during a meeting in Riyadh between Electricity Minister Mohamed Shaker and Saudi Energy Minister Prince Abdulaziz bin Salman.<\/p>\n<p><strong>This would be one of the largest wind farms in the world:<\/strong> The ACWA plant would be the second-largest wind farm in the world after the Gansu project in China which has a planned capacity of 20 GW. For comparison, India\u2019s largest wind farm \u2060\u2014 Jaisalmer \u2060\u2014 has a capacity of 1.6 GW while the 1.55 GW Alta Wind Energy Center in California is the biggest in the US. Currently, Egypt\u2019s largest wind farm is the <a href=\"http:\/\/www.nrea.gov.eg\/Technology\/WindStations\">545-MW facility in Zafarana<\/a>.<\/p>\n<p><strong>What\u2019s next:<\/strong> Egypt will provide land to conduct feasibility studies for the project ahead of the signing of final contracts, the statement said.<\/p>\n<p><strong>Two days, two wind farms:<\/strong> The news out of Saudi comes a day after Orascom Construction announced it <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/448f4089-1c32-47d2-b37e-2ab97142d101\">had broken ground<\/a> on the 500-MW Ras Ghareb wind farm it\u2019s working on alongside Engie and Toyota Tsusho.<\/p>\n<p><strong>This isn\u2019t the only large-scale wind project ACWA is looking at in Egypt:<\/strong> ACWA and Hassan Allam <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/031ecccd-f816-4657-ae61-58d9c32a706d\">signed in June<\/a> a 25-year power purchase agreement with the EETC to develop a 1.1 GW wind farm in the Gulf of Suez. The USD 1.5 bn project is expected to reach financial close by 4Q 2024 and begin commercial operations by the end of 2026.<\/p>\n<p><strong>Egypt has set itself an ambitious renewable energy target:<\/strong> Egypt is aiming to produce <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/46eb0c0b-2e62-47e0-8423-05c5359f3275\">42%<\/a><a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/46eb0c0b-2e62-47e0-8423-05c5359f3275\"><\/a><a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/46eb0c0b-2e62-47e0-8423-05c5359f3275\">of its energy<\/a> from renewable sources by 2030, a target announced during last year\u2019s COP26 summit. This is five years earlier than its previous target.<\/p>\n<p><strong>ALSO FROM SHAKER\u2019S VISIT- <\/strong>The ministers discussed progress over the USD 1.8 bn <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/653bc78e-5d38-4458-975b-249cc9521b61\">Egypt-Saudi electricity interconnection project<\/a>, and cooperation in renewable energy and hydrogen. Work is underway to prepare a MoU between the two countries on the fields of electricity, renewable energy and clean hydrogen, according to the statement.<\/p>\n<p><strong>MORE ENERGY NEWS- <\/strong><\/p>\n<p><strong>Suez Cement is investing<\/strong> <strong>USD 25 mn in the <\/strong><strong><a href=\"https:\/\/www.suezcement.com.eg\/en\/WasteHeatRecoveryProject\">waste heat recovery facility<\/a><\/strong><strong> at its <\/strong><strong>Helwan plant<\/strong>, <a href=\"https:\/\/bit.ly\/3DKy0cP\">Al Mal<\/a> reports. The plant will use excess heat from production lines to generate 20 MW of power, replacing 30% of the plant\u2019s electricity needs.<\/p>\n<p><strong>Intro Power is pouring more into our renewables sector:<\/strong> Intro Group subsidiary Intro Power and Utilities\u2019 renewables investments will reach USD 80 mn by the end of the year CEO Hani Helali reportedly told <a href=\"https:\/\/bit.ly\/3TUN3aB\">Al Mal<\/a>. The company is currently in negotiations with three banks to secure a USD 12 mn loan to cover some of its investment costs, Helali is quoted as saying.<\/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\/acwa-power\/\">ACWA Power<\/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\/renewables\/\">renewables<\/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=\"576908\" 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=\"576908\">\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\">Investment Watch<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2022\/11\/02\/qatar-is-eyeing-a-usd-1-bn-green-hydrogen-and-ammonia-project\/\">\r\n                            Qatar is eyeing a USD 1 bn green hydrogen and ammonia project                        <\/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\/02\/qatar-is-eyeing-a-usd-1-bn-green-hydrogen-and-ammonia-project\/\" target=\"_blank\">\n                    Open in new tab                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/new-tab.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a href=\"#\" target=\"_blank\" onclick=\"event.preventDefault(); 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Qatar Energy and the Sovereign Fund of Egypt agreed on the project\u2019s specs during President Abdel Fattah El Sisi\u2019s <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/79ce7f1b-589c-431f-9ed7-47f9a283f787\">visit to Doha<\/a> in September, Al Borsa quotes its sources as saying. Oil Minister Tarek El Molla <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/3e62bd04-06d2-490f-9513-2aa77965d285\">joined El Sisi<\/a> on the trip.<\/p>\n<p><strong>What we don\u2019t:<\/strong> The report didn\u2019t provide any information on how much fuel the facility will produce, when QIA could finish feasibility studies, or what the construction timeline might look like.<\/p>\n<p><strong>We\u2019re expecting inflows from <\/strong><strong>Qatar:<\/strong> Following Doha\u2019s pledge to <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/c734fc23-c0c0-4322-bf5d-ce3c400e707a\">invest USD 5 bn in<\/a><a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/c734fc23-c0c0-4322-bf5d-ce3c400e707a\"><\/a><a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/c734fc23-c0c0-4322-bf5d-ce3c400e707a\">Egypt<\/a>, the two sides have been in talks over potential investments from <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/86e5c98f-26ec-4505-a0c3-3f85a5264bc8\">Qatari firms<\/a> and the <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/16d8e297-b643-4497-9e65-4ad4fef63817\">QIA,<\/a> but nothing has yet been officially announced. The wealth fund could join other Gulf nations buying up Egypt\u2019s ports with an <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/bd3f1189-fe0f-4c6d-914b-7c320d65f001\">investment in Damietta Port<\/a>, and the two countries have <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/00b7a282-e808-4e11-bcb5-6f50267107bb\">held talks<\/a> about joint investments in oil and gas and in <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/23c6426c-0b5d-4302-aeb2-74226e86a276\">local listed firms<\/a>, while Qatar Energy has been <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/c734fc23-c0c0-4322-bf5d-ce3c400e707a\">deepening its presence<\/a> in our oil and gas sector this year.<\/p>\n<p><strong>Egypt is positioning itself as a regional hub for green energy:<\/strong> The government is making moves to capitalize on investment momentum ahead of COP27 by establishing the SCZone as a regional green energy hub. International companies have signed USD 33 bn worth of preliminary agreements for green ammonia and hydrogen projects this year, the most recent of which was with Maersk for a huge <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/cca9f0fa-7d56-4a59-96e2-7b21beb9e915\">USD 15 bn facility<\/a> capable of producing 3 mn tons of fuel a year.<\/p>\n<p><strong>Expect more on this at COP: <\/strong>The government <a href=\"https:\/\/enterprise.news\/climate\/en\/news\/story\/09bd2e5d-7ccd-4278-b1a6-2d5d2ea031fe\">is expected<\/a> to make a string of green hydrogen announcements \u2014 including the national hydrogen strategy \u2014 and sign final agreement with a number of companies at COP27.<\/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\/energy\/\">energy<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/green-ammonia\/\">green ammonia<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/green-hydrogen\/\">green hydrogen<\/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                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/qatar-investment-authority\/\">Qatar Investment Authority<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                    <\/div>\n    <\/div>\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"576910\" 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=\"576910\">\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\">M&amp;A WATCH<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2022\/11\/02\/camel-flour-mills-acquires-majority-stake-in-five-star-mills\/\">\r\n                            Camel Flour Mills acquires majority stake in Five Star Mills                        <\/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\/02\/camel-flour-mills-acquires-majority-stake-in-five-star-mills\/\" 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\/02\/camel-flour-mills-acquires-majority-stake-in-five-star-mills\/')\">\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\/02\/camel-flour-mills-acquires-majority-stake-in-five-star-mills\/\">\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=Camel Flour Mills acquires majority stake in Five Star Mills&url=https:\/\/enterpriseam.com\/egypt\/2022\/11\/02\/camel-flour-mills-acquires-majority-stake-in-five-star-mills\/\">\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\/02\/camel-flour-mills-acquires-majority-stake-in-five-star-mills\/&title=Camel Flour Mills acquires majority stake in Five Star Mills\">\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=Camel+Flour+Mills+acquires+majority+stake+in+Five+Star+Mills+https%3A%2F%2Fenterpriseam.com%2Fegypt%2F2022%2F11%2F02%2Fcamel-flour-mills-acquires-majority-stake-in-five-star-mills%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\/02\/camel-flour-mills-acquires-majority-stake-in-five-star-mills\/\">\r\n                    <div class=\"photo photo--above\">\r\n                        <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2022\/11\/54.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"576911\" data-permalink=\"https:\/\/enterpriseam.com\/egypt\/2022\/11\/02\/camel-flour-mills-acquires-majority-stake-in-five-star-mills\/54-jpg-10\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2022\/11\/54.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"54.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2022\/11\/54.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2022\/11\/54.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-576910\" class=\"content-area-description single-story post-576910 post type-post status-publish format-standard has-post-thumbnail hentry category-ma-watch tag-al-moatabar tag-camel-flour-mills tag-catalyst-capital tag-enterpriseam tag-fintech tag-five-stars-group tag-hoods tag-ma-watch tag-non-banking-financial-services tag-valu tag-wheat 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>Camel Flour acquires struggling flour producer:<\/strong> Al Moatabar Group\u2019s <a href=\"https:\/\/www.linkedin.com\/company\/camel-flour-mills\/?originalSubdomain=eg\">Camel Flour<\/a><a href=\"https:\/\/www.linkedin.com\/company\/camel-flour-mills\/?originalSubdomain=eg\">Mills<\/a>(CFM) has acquired a majority stake in the distressed high-end flour producer <a href=\"http:\/\/www.fivestar.com.eg\/flour\/index.php\">Five Stars<\/a>, it said in <a href=\"https:\/\/ent.news\/2022\/11\/Camel-Four-acquires-FSG.pdf\">a statement (pdf)<\/a> yesterday.<\/p>\n<p><strong>Five Stars has fallen on hard times:<\/strong> Described by CFM as formerly \u201cone of the most successful milling operators in Egypt,\u201d the company has faced financial difficulties in particular due to significant FX exposure.<\/p>\n<p><strong>CFM did not disclose the size and value of the transaction<\/strong>, but said the acquisition involved agreement on significant debt restructuring and settlement with major banks. The statement described the acquisition as one that offered \u201ca successful closure and all-party-win for all the stakeholders.\u201d<\/p>\n<p><strong>Reaping the benefits<\/strong>: The acquisition will increase CFM\u2019s combined milling platform to a total capacity of more than 4.5k mt\/day. Five Stars has an integrated facility in Suez and automated port-integrated grain loading and unloading facilities. The facility\u2019s location is a primary hub for receiving and handling high quality Australian wheat and is an export hub to Africa.<\/p>\n<p><strong>Advisors: <\/strong>The transaction\u2019s advisory team included Zulficar & Partners, EFG-Hermes, Ripples Impact, Moore Egypt and others.<\/p>\n<p><strong>VALU INVESTS IN E-COMMERCE PLATFORM-<\/strong><\/p>\n<p><strong>EFG Hermes\u2019 BNPL platform valU has invested in MENA e-commerce platform <\/strong><strong><a href=\"https:\/\/hoods.live\/\">Hoods<\/a><\/strong> in a bid to tap into the fast-growing virtual shopping space, it said in <a href=\"https:\/\/ent.news\/2022\/11\/valU-x-Hoods-English.pdf\">a statement<\/a><a href=\"https:\/\/ent.news\/2022\/11\/valU-x-Hoods-English.pdf\">(pdf<\/a><a href=\"https:\/\/ent.news\/2022\/11\/valU-x-Hoods-English.pdf\">)<\/a> yesterday. The company did not say how much it invested in Hoods or disclose whether it has acquired shares in the firm.<\/p>\n<p><strong>valU has had a busy 2022:<\/strong> The consumer finance player acquired fintech <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/65572e00-f929-401b-bdf5-690f66c460fa\">Kiwe<\/a> last month and digital HR and in August bought payroll platform <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/097d2cc1-96bd-4d28-aa94-8365488c1ea3\">Paynas<\/a>. It also <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/1c1b2e26-b114-4d61-b81d-cb0d118bfffd\">entered the Saudi market<\/a> with the purchase of a minority stake in local fintech player Fas Finance.<\/p>\n<p><strong>ALSO IN M&A-<\/strong><\/p>\n<p>Impact investor Catalyst Partners\u2019 <strong><a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/614db3fa-c040-4c64-aa91-1314f18a4edb\">Catalyst Capital Egypt Fund<\/a><\/strong> wants to deploy EGP 100-120 mn this month, split between a pharma firm and an industrial development company, according to <a href=\"https:\/\/bit.ly\/3zxPrvC\">Al Mal<\/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\/al-moatabar\/\">Al Moatabar<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/camel-flour-mills\/\">Camel Flour Mills<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/catalyst-capital\/\">Catalyst Capital<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/fintech\/\">Fintech<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/five-stars-group\/\">Five Stars Group<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/hoods\/\">Hoods<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/ma-watch\/\">M&amp;A Watch<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/non-banking-financial-services\/\">non-banking financial services<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/valu\/\">ValU<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/wheat\/\">wheat<\/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=\"576912\" 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=\"576912\">\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\">Customs<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2022\/11\/02\/some-imports-will-be-released-immediately-from-ports\/\">\r\n                            Some imports will be released immediately from ports                        <\/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\/02\/some-imports-will-be-released-immediately-from-ports\/\" 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\/02\/some-imports-will-be-released-immediately-from-ports\/')\">\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\/02\/some-imports-will-be-released-immediately-from-ports\/\">\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=Some imports will be released immediately from ports&url=https:\/\/enterpriseam.com\/egypt\/2022\/11\/02\/some-imports-will-be-released-immediately-from-ports\/\">\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\/02\/some-imports-will-be-released-immediately-from-ports\/&title=Some imports will be released immediately from ports\">\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=Some+imports+will+be+released+immediately+from+ports+https%3A%2F%2Fenterpriseam.com%2Fegypt%2F2022%2F11%2F02%2Fsome-imports-will-be-released-immediately-from-ports%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\/02\/some-imports-will-be-released-immediately-from-ports\/\">\r\n                    <div class=\"photo photo--above\">\r\n                        <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2022\/11\/55.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"576913\" data-permalink=\"https:\/\/enterpriseam.com\/egypt\/2022\/11\/02\/some-imports-will-be-released-immediately-from-ports\/55-jpg-16\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2022\/11\/55.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"55.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2022\/11\/55.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2022\/11\/55.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-576912\" class=\"content-area-description single-story post-576912 post type-post status-publish format-standard has-post-thumbnail hentry category-customs tag-central-bank-of-egypt tag-customs tag-documentary-collection tag-enterpriseam tag-l-cs wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<p><a class=\"content-anchor\" id=\"tldr-story-05\"><\/a> <strong>A small sigh of relief: <\/strong>The Trade and Industry Ministry will allow the immediate release of some goods imported for private use in a bid to reduce the clutter at ports, according to a ministry letter sent to the Customs Authority seen by Enterprise.<\/p>\n<p><strong>The date matters:<\/strong> The ministry will exempt goods imported for private use <strong>before 26 October<\/strong> from import regulations, allowing them to be released from ports.<\/p>\n<p><strong>But it doesn\u2019t matter who you are:<\/strong> Custom Authority sources told Enterprise that the decision will apply to individuals, companies and factories \u2014 provided that the imports are for private use.<\/p>\n<p><strong>No need for a L\/C or a Form 4:<\/strong> They added that per the new decision the shipments would be immediately released without the need for L\/Cs or a<a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/72a09d16-8f88-4ea0-aead-d7967420ea2d\">Form 4<\/a> customs document. They will only have to submit the authorization for release and proof of payment.<\/p>\n<p><strong>Form 4?<\/strong> Form 4 is an important customs document importers submit to banks to release their goods. The paper represents a pledge to pay, allowing the bank to provide either a letter of credit (L\/C) or to finalize the process of documentary collection.<\/p>\n<p><strong>REMEMBER- Import restrictions are expected to be a thing of the past before the year is out:<\/strong> The Central Bank of Egypt <a href=\"https:\/\/enterprise.press\/afternoons\/pm-taweem-3-0-sees-egp-at-23-03-against-the-greenback\/#tldr-story-04\">announced last week<\/a> that it would gradually phase out <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/f1237459-2827-438d-96c3-8fe7a8dce26e\">import restrictions<\/a> introduced in February to prevent a shortage of FX from intensifying. The central bank made it mandatory for importers to use letters of credit to pay for imports, a requirement which made it almost impossible for businesses to get goods into the country, causing shortages of industrial and consumer goods and disrupting production in a range of industries.<\/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\/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\/customs\/\">customs<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/documentary-collection\/\">documentary collection<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/l-cs\/\">L\/Cs<\/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=\"576914\" 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=\"576914\">\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\">LEGISLATION WATCH<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2022\/11\/02\/house-approves-egp-300-bonus-for-public-sector-workers-pensioners\/\">\r\n                            House approves EGP 300 bonus for public sector workers, pensioners                        <\/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\/02\/house-approves-egp-300-bonus-for-public-sector-workers-pensioners\/\" 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\/02\/house-approves-egp-300-bonus-for-public-sector-workers-pensioners\/')\">\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\/02\/house-approves-egp-300-bonus-for-public-sector-workers-pensioners\/\">\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=House approves EGP 300 bonus for public sector workers, pensioners&url=https:\/\/enterpriseam.com\/egypt\/2022\/11\/02\/house-approves-egp-300-bonus-for-public-sector-workers-pensioners\/\">\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\/02\/house-approves-egp-300-bonus-for-public-sector-workers-pensioners\/&title=House approves EGP 300 bonus for public sector workers, pensioners\">\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=House+approves+EGP+300+bonus+for+public+sector+workers%2C+pensioners+https%3A%2F%2Fenterpriseam.com%2Fegypt%2F2022%2F11%2F02%2Fhouse-approves-egp-300-bonus-for-public-sector-workers-pensioners%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\/02\/house-approves-egp-300-bonus-for-public-sector-workers-pensioners\/\">\r\n                    <div class=\"photo photo--above\">\r\n                        <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2022\/11\/56.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"576915\" data-permalink=\"https:\/\/enterpriseam.com\/egypt\/2022\/11\/02\/house-approves-egp-300-bonus-for-public-sector-workers-pensioners\/56-jpg-15\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2022\/11\/56.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"56.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2022\/11\/56.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2022\/11\/56.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-576914\" class=\"content-area-description single-story post-576914 post type-post status-publish format-standard has-post-thumbnail hentry category-legislation-watch tag-currencies tag-enterpriseam tag-house-of-representatives tag-inflation tag-legislation-watch tag-social-welfare 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>House gives final sign-off on public-sector, pensioner bonuses:<\/strong> The House of Representatives approved disbursing a EGP 300 bonus to public-sector employees and pensioners this month to help mitigate the impact of the <a href=\"https:\/\/enterprise.press\/afternoons\/pm-taweem-3-0-sees-egp-at-23-03-against-the-greenback\/\">EGP float<\/a>.<\/p>\n<p><strong>What they said: <\/strong>The payment will help vulnerable and low-income people bear the high cost of living triggered by the drop in the EGP\u2019s purchasing power, said Adel Abdel Fadil, chair of the House Manpower Committee. \u201cThis is an exceptional EGP 300 bonus which will help mns of citizens absorb the shock of the current difficult economic crises gripping Egypt and the entire region,\u201d he said. Some 4.6 mn state employees and 10.5 mn pensioners stand to benefit from the bonus.<\/p>\n<p><strong>The amendment is part of a broader package of measures <\/strong><strong><a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/3f8e5c9a-90ae-4625-b029-17645be14c8e\">announced by the government<\/a><\/strong> <strong>last week<\/strong> to protect low-income households from effects of the currency devaluation, which is expected to drive up inflation and worsen poverty rates. Among the measures are a EGP 300 increase in the public-sector minimum wage and an extension to the freeze on household electricity bills.<\/p>\n<p><strong>What\u2019s next<\/strong>: The bill will be published in the Official Gazette and go into force on 1 November.<\/p>\n<p><strong>FX INCENTIVE BILL FOR INDUSTRY ENTERS HOUSE-<\/strong><\/p>\n<p><strong>Tax breaks for FX:<\/strong> The House yesterday received a new government-drafted bill granting income tax breaks to investors who use FX to finance at least half of the cost of their projects, less than two weeks after ministers <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/17a8718e-d87f-4515-a0c9-05d43f958eb0\">approved<\/a> the plans. Under proposed amendments to the 2017 Investment Act, companies would receive a tax cut of up to 55% on income generated by projects funded by FX, a move designed to attract more hard currency into the country and shore up its external position.<\/p>\n<p><strong>What we know:<\/strong><\/p>\n<ul>\n<li>At least 50% of the project\u2019s cost must be funded by FX;<\/li>\n<li>The project should be in operation within six years of the law coming into force;<\/li>\n<li>Cabinet will determine which industries will benefit from the incentives;<\/li>\n<li>Companies will be receive the tax deduction for up to 10 years;<\/li>\n<li>The rebate would be paid to companies within 45 days of the tax return submission deadline.<\/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\/currencies\/\">currencies<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/house-of-representatives\/\">House of Representatives<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/inflation\/\">inflation<\/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\/social-welfare\/\">social welfare<\/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=\"576916\" 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=\"576916\">\r\n            \r\n            <div class=\"story__body\">\r\n\r\n                <a href=\"https:\/\/enterpriseam.com\/egypt\/2022\/11\/02\/576916\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-576916\" class=\"content-area-description single-story post-576916 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=\"576917\" 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=\"576917\">\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\">Capital markets<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2022\/11\/02\/egxs-emirati-roadshow-is-a-wrap-efg-hermes-tops-egx-brokerage-table-in-october\/\">\r\n                            EGX\u2019s Emirati roadshow is a wrap + EFG Hermes tops EGX brokerage table in October                        <\/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\/02\/egxs-emirati-roadshow-is-a-wrap-efg-hermes-tops-egx-brokerage-table-in-october\/\" 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\/02\/egxs-emirati-roadshow-is-a-wrap-efg-hermes-tops-egx-brokerage-table-in-october\/')\">\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\/02\/egxs-emirati-roadshow-is-a-wrap-efg-hermes-tops-egx-brokerage-table-in-october\/\">\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=EGX\u2019s Emirati roadshow is a wrap + EFG Hermes tops EGX brokerage table in October&url=https:\/\/enterpriseam.com\/egypt\/2022\/11\/02\/egxs-emirati-roadshow-is-a-wrap-efg-hermes-tops-egx-brokerage-table-in-october\/\">\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\/02\/egxs-emirati-roadshow-is-a-wrap-efg-hermes-tops-egx-brokerage-table-in-october\/&title=EGX\u2019s Emirati roadshow is a wrap + EFG Hermes tops EGX brokerage table in October\">\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=EGX%E2%80%99s+Emirati+roadshow+is+a+wrap+%2B+EFG+Hermes+tops+EGX+brokerage+table+in+October+https%3A%2F%2Fenterpriseam.com%2Fegypt%2F2022%2F11%2F02%2Fegxs-emirati-roadshow-is-a-wrap-efg-hermes-tops-egx-brokerage-table-in-october%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\/02\/egxs-emirati-roadshow-is-a-wrap-efg-hermes-tops-egx-brokerage-table-in-october\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-576917\" class=\"content-area-description single-story post-576917 post type-post status-publish format-standard hentry category-capital-markets tag-capital-markets tag-efg-hermes tag-egx tag-enterpriseam tag-rami-el-dokany tag-uae wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<p><strong>EGX boss Rami El Dokany has wrapped up the <\/strong><strong><a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/c733ad3a-76a6-47ff-8ae3-9c556e2214b0\">UAE leg of the bourse roadshow<\/a><\/strong><strong>,<\/strong> the EGX said in a <a href=\"https:\/\/ent.news\/2022\/11\/EGX-UAE-roadshow-PRL.pdf\">statement (pdf)<\/a>. El Dokany met with representatives from 16 regional and international financial institutions, including the Arab Monetary Fund\u2019s Abdulrahman Al Hamidy and the Dubai International Financial Center\u2019s Arif Amiri.<\/p>\n<p><strong>The roadshow saw the EGX boss promote listed companies and work to restore confidence<\/strong> among investors in the market. El Dokany said the recent loan agreement reached with the IMF would partially improve the market, according to the statement, adding that central bank moves to ease the imports crisis would help stabilize the economy. He also showcased plans to give the market a competitive edge by introducing new products like <a href=\"https:\/\/enterprise.press\/issues\/2019\/10\/02\/futures-exchange-derivatives-trading-coming-egypt-2020\/#enterpriseand-last-nights-talk-shows\">derivatives trading<\/a> and Sharia-compliant indices.<\/p>\n<p><strong>Investors took the opportunity to urge El Dokany to speed up state IPOs in order to revive the EGX and boost liquidity in the market. <\/strong>They also suggested looking into mechanisms to allow dual listing with Arab exchanges to help boost liquidity, and training investor relations officials to allow for smoother communication channels with foreign financial institutions, the statement read.<\/p>\n<p><strong>OCTOBER\u2019S BROKERAGE LEAGUE TABLE- <\/strong><\/p>\n<p><strong>EFG Hermes topped the EGX\u2019s brokerage league table once again in October<\/strong> with a market share of 19.0%, according to <a href=\"https:\/\/ent.news\/2022\/11\/October-Ranking-of-Brokerage-Firms-Ar.pdf\">figures from the EGX (pdf)<\/a>. Rounding out the top five were Beltone (10.1%), CI Capital (7.3%), Mubasher (3.9%) and Pioneers (3.6%).<\/p>\n\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/capital-markets\/\">capital markets<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/efg-hermes\/\">EFG Hermes<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/egx\/\">EGX<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/rami-el-dokany\/\">Rami El Dokany<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/uae\/\">UAE<\/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=\"576918\" 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=\"576918\">\r\n            \r\n                <div class=\"issue-story-header text-center\">\r\n                    <div class=\"index-number\">8<\/div>\r\n\r\n                    <p class=\"f-graphik\">Moves<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2022\/11\/02\/mahmoud-mohieldin-re-elected-imf-executive-director\/\">\r\n                            Mahmoud Mohieldin re-elected IMF executive director                        <\/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\/02\/mahmoud-mohieldin-re-elected-imf-executive-director\/\" 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\/02\/mahmoud-mohieldin-re-elected-imf-executive-director\/')\">\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\/02\/mahmoud-mohieldin-re-elected-imf-executive-director\/\">\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=Mahmoud Mohieldin re-elected IMF executive director&url=https:\/\/enterpriseam.com\/egypt\/2022\/11\/02\/mahmoud-mohieldin-re-elected-imf-executive-director\/\">\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\/02\/mahmoud-mohieldin-re-elected-imf-executive-director\/&title=Mahmoud Mohieldin re-elected IMF executive director\">\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=Mahmoud+Mohieldin+re-elected+IMF+executive+director+https%3A%2F%2Fenterpriseam.com%2Fegypt%2F2022%2F11%2F02%2Fmahmoud-mohieldin-re-elected-imf-executive-director%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\/02\/mahmoud-mohieldin-re-elected-imf-executive-director\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-576918\" class=\"content-area-description single-story post-576918 post type-post status-publish format-standard hentry category-moves tag-enterpriseam tag-imf tag-mahmoud-mohieldin tag-moves wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<p><strong>Mahmoud Mohieldin has been unanimously re-elected as an executive director at <\/strong><strong>the IMF by Arab states<\/strong>, according to the Fund\u2019s <a href=\"https:\/\/www.imf.org\/en\/About\/executive-board\/eds-voting-power\">website<\/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\/imf\/\">IMF<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/mahmoud-mohieldin\/\">Mahmoud Mohieldin<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/moves\/\">moves<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                    <\/div>\n    <\/div>\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"576919\" 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=\"576919\">\r\n            \r\n            <div class=\"story__body\">\r\n\r\n                <a href=\"https:\/\/enterpriseam.com\/egypt\/2022\/11\/02\/576919\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-576919\" class=\"content-area-description single-story post-576919 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=\"576920\" 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=\"576920\">\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\/02\/last-nights-talk-shows-cop27-preparations-the-arab-league-summit-and-the-egp-float\/\">\r\n                            Last Night\u2019s Talk Shows: COP27 preparations, the Arab League summit and the EGP float                        <\/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\/02\/last-nights-talk-shows-cop27-preparations-the-arab-league-summit-and-the-egp-float\/\" 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\/02\/last-nights-talk-shows-cop27-preparations-the-arab-league-summit-and-the-egp-float\/')\">\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\/02\/last-nights-talk-shows-cop27-preparations-the-arab-league-summit-and-the-egp-float\/\">\n   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href=\"https:\/\/www.linkedin.com\/shareArticle?mini=true&url=https:\/\/enterpriseam.com\/egypt\/2022\/11\/02\/last-nights-talk-shows-cop27-preparations-the-arab-league-summit-and-the-egp-float\/&title=Last Night\u2019s Talk Shows: COP27 preparations, the Arab League summit and the EGP float\">\n                    LinkedIn                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/linkedin-icon.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a href=\"https:\/\/api.whatsapp.com\/send?text=Last+Night%E2%80%99s+Talk+Shows%3A+COP27+preparations%2C+the+Arab+League+summit+and+the+EGP+float+https%3A%2F%2Fenterpriseam.com%2Fegypt%2F2022%2F11%2F02%2Flast-nights-talk-shows-cop27-preparations-the-arab-league-summit-and-the-egp-float%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\/02\/last-nights-talk-shows-cop27-preparations-the-arab-league-summit-and-the-egp-float\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-576920\" class=\"content-area-description single-story post-576920 post type-post status-publish format-standard hentry category-last-nights-talk-shows tag-arab-league tag-cop27 tag-currencies tag-diplomacy tag-enterpriseam tag-last-nights-talk-shows tag-moustafa-madbouly tag-politics tag-social-welfare wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<p><strong>It was a mixed bag on the talk shows yesterday<\/strong>, with the aftermath of Thursday\u2019s EGP float, preparation for next week\u2019s COP27 summit, and the Arab League summit in Algeria all getting lots of attention.<\/p>\n<p><strong>COP prep:<\/strong> Yesterday\u2019s visit by Prime Minister Moustafa Madbouly to Sharm El Sheikh to inspect the final preparations for the COP27 summit was picked up by Masaa DMC (<a href=\"https:\/\/www.youtube.com\/watch?v=jkcJ35DwU18\">watch, runtime: 6:03<\/a>), Al Hayah Al Youm (<a href=\"https:\/\/www.youtube.com\/watch?v=0EVa7V5iGe8\">watch, runtime: 3:25<\/a>) and others. In an interview on Kelma Akhira, Health Ministry spokesman Hossam Abdel Ghaffar assured that Egyptian emergency services are ready to respond to medical emergencies during the summit (<a href=\"https:\/\/www.youtube.com\/watch?v=ahGRFeLnkK0\">watch, runtime: 2:19<\/a>).<\/p>\n<p><strong>After the float: <\/strong>The EGP float has sent steel prices soaring by EGP 1.9k-EGP 2k per ton to an average selling price of EGP 19.5k per tonne, Ahmed El Zeiny, head of the Cairo Chamber of Commerce\u2019s Building Materials Division, told Salet El Tahrir (<a href=\"https:\/\/www.youtube.com\/watch?v=YYuk2AgNsLs\">watch, runtime: 7:40<\/a>). Meanwhile, Lamees had her daily wrap-up on what happened with the EGP last day, noting that even though its decline against the greenback has slowed this could change in the days ahead (<a href=\"https:\/\/www.youtube.com\/watch?v=Q2KihllAn4Q\">watch, runtime: 1:13<\/a>).<\/p>\n<p><strong>I<\/strong><strong>n Algiers:<\/strong> President El Sisi\u2019s schedule during the Arab Summit in Algeria got coverage, with Ittihadiya spokesperson Bassam Rady phoning in to Ala Mas\u2019ouleety (<a href=\"https:\/\/www.youtube.com\/watch?v=cwWFepQ0E20\">watch, runtime: 9:51<\/a>) to provide updates on El Sisi\u2019s meeting with UN Chief Ant\u00f3nio Guterres on COP27 preparations in Sharm and developments in the region, including the crisis in Libya. El Sisi\u2019s schedule is also getting a mention from Al Hayah Al Youm (<a href=\"https:\/\/www.youtube.com\/watch?v=Q_kJ-A-xEMU\">watch, runtime: 5:09<\/a>). A no-show by nearly a third of Arab leaders for different reasons was noted by Kelma Akhira\u2019s El Hadidi (<a href=\"https:\/\/www.youtube.com\/watch?v=ftIOHYLQquo\">watch, runtime: 5:29<\/a>).<\/p>\n<p><strong>Also getting attention:<\/strong><\/p>\n<ul>\n<li><strong>Public-sector bonuses: <\/strong>Yesterday\u2019s House vote approving the disbursement of EGP 300 bonuses to public-sector employees and pensioners this month received attention from Al Hayah Al Youm (<a href=\"https:\/\/www.youtube.com\/watch?v=vRgMlGdiuNQ\">watch, runtime: 2:30<\/a>).<\/li>\n<li><strong>11\/11:<\/strong> Ala Mas\u2019ouleety\u2019s Ahmed Moussa was ecstatic about a counter-hashtag on Twitter against 11\/11 protests, excitedly telling viewers that it was top-trending in Egypt (<a href=\"https:\/\/www.youtube.com\/watch?v=mCERS-f4WkA\">watch, runtime: 1:02<\/a>). Unfortunately, no-one thought to tell him about the hashtags that were trending just a few hours earlier.<\/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\/arab-league\/\">Arab League<\/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\/currencies\/\">currencies<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/diplomacy\/\">DIPLOMACY<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/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\/moustafa-madbouly\/\">Moustafa Madbouly<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/politics\/\">politics<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/social-welfare\/\">social welfare<\/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=\"576921\" 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   <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\/02\/alaa-abdel-fattah-starts-full-hunger-strike-authorities-arrest-activists-amid-calls-for-protests\/\">\r\n                            Alaa Abdel Fattah starts full hunger strike + authorities arrest activists amid calls for protests                        <\/a>\r\n                    <\/h3>\r\n\r\n                    \r\n\t\t\t\t\t\n<div class=\"cta\">\n    <div class=\"cta__btn share-dropdown-cta dropdown-toggle-btn\" style=\"position:relative\">\n        <img decoding=\"async\" src=\"https:\/\/ent.news\/internal\/408834.svg\" alt=\"\">\n        Share Story\n        <!-- Dropdown Menu -->\n        <ul class=\"share-menu\">\n            <li class=\"list-inline-item\">\n                <a 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headlines in the foreign press:<\/strong> The family of imprisoned political activist Alaa Abdel Fattah said yesterday that he has begun a full hunger strike, days before the start of COP27. Abdel Fattah has been on a partial hunger strike for more than six months but will now escalate his protest while the world\u2019s attention is on Egypt for the global climate summit. The news is getting wide coverage from the <a href=\"https:\/\/apnews.com\/article\/europe-middle-east-africa-religion-egypt-7f1976b399c0a320a17cbfca7d0f27f7\">Associated Press<\/a>, <a href=\"https:\/\/www.cbsnews.com\/news\/activist-alaa-abdel-fattah-hunger-strike-in-egypt-prison-will-refuse-water-during-cop27\/\">CBS News<\/a>, <a href=\"https:\/\/www.bbc.com\/news\/world-middle-east-63468830\">BBC<\/a>, and the UK\u2019s <a href=\"https:\/\/www.whtimes.co.uk\/news\/national\/23093470.jailed-british-egyptian-activist-to-stop-drinking-water-first-day-cop27\/\">PA News Agency<\/a>.<\/p>\n<p><strong>Also getting ink: <\/strong><a href=\"https:\/\/www.barrons.com\/articles\/calls-for-egypt-protests-trigger-security-clampdown-ahead-of-cop27-01667277906\">AFP<\/a> and <a href=\"https:\/\/www.reuters.com\/business\/cop\/egyptian-security-arrests-dozens-ahead-cop27-climate-summit-rights-group-2022-11-01\/\">Reuters<\/a> are covering calls on social media for protests later this month.<\/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\/alaa-abdel-fattah\/\">Alaa Abdel Fattah<\/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\/human-rights\/\">human rights<\/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=\"576926\" 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\/02\/576926\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-576926\" class=\"content-area-description single-story post-576926 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>1 December (Thursday): Sphinx International Airport <a href=\"https:\/\/bit.ly\/3UdDqDB\">will begin operating<\/a> international flights.<\/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<p>1Q2023: Internal trade database to <a href=\"https:\/\/hapijournal.com\/?p=212185\">launch<\/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","protected":false},"excerpt":{"rendered":"","protected":false},"featured_media":576903,"menu_order":0,"template":"","categories":[],"tags":[],"class_list":["post-576902","issue","type-issue","status-publish","has-post-thumbnail","hentry","wpautop","entry"],"acf":{"mongo_id":"d61578d1-56fe-47c2-9dba-8cb8ac81f7ac","teaser":"","photo_url":"https:\/\/ent.news\/2022\/11\/17.jpg"},"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v27.1 (Yoast SEO v27.1.1) - 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