{"id":577052,"date":"2022-11-08T04:00:09","date_gmt":"2022-11-08T04:00:09","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/?post_type=issue&#038;p=577052"},"modified":"2025-12-16T11:07:17","modified_gmt":"2025-12-16T11:07:17","slug":"its-day-three-of-cop27-world-leaders-talk-energy-water-vulnerable-communities","status":"publish","type":"issue","link":"https:\/\/enterpriseam.com\/egypt\/issues\/its-day-three-of-cop27-world-leaders-talk-energy-water-vulnerable-communities\/","title":{"rendered":"It\u2019s day three of COP27: World leaders talk energy, water, vulnerable communities"},"content":{"rendered":"<section id=\"577054\" 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=\"577054\">\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\/08\/this-morning-us-midterms-are-still-eclipsing-cop27-in-the-global-press-global-golf-is-coming-to-egypt\/\">\r\n                            THIS MORNING: US midterms are still eclipsing COP27 in the global press + global golf is coming to 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\/08\/this-morning-us-midterms-are-still-eclipsing-cop27-in-the-global-press-global-golf-is-coming-to-egypt\/\" target=\"_blank\">\n                    Open in new tab                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/new-tab.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a href=\"#\" target=\"_blank\" onclick=\"event.preventDefault(); 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It\u2019s another COP-filled morning<\/strong>, but we still have a surprising amount of Egypt business news for you to consume over your morning coffee (or tea, if you must).<\/p><p><strong>BUT FIRST- A quick programming note <\/strong>on how we\u2019re covering COP27 across our publications:<\/p><ul>\n<li><strong>EnterpriseAM <\/strong>is focused on the most relevant-to-Egypt aspects of COP with a flavor of what the regional and global conversations are. As usual, our focus outside of Egypt will be on emerging markets.<\/li>\n<li><strong>EnterprisePM <\/strong>delivers an afternoon update on major developments out of Sharm and offer you longer takes on climate and climate-related issues \u2014 stuff that will make you feel smarter and more informed on the issues of the day.<\/li>\n<li><strong>Enterprise Climate <\/strong>is going deep on climate finance, the loss-and-damage debate, the energy transition and other topics relevant to our regional audience \u2014 Enterprise Climate is a regional publication, covering the Arab world from Morocco to Oman.<\/li>\n<\/ul><p><strong>Enterprise Climate launched our <\/strong><strong><a href=\"https:\/\/enterprise.news\/climate\/en\/news\/story\/d34e43ce-ec5e-4c25-a11f-0a9d80d7bebe\">Climate CEO Poll<\/a><\/strong><strong> this morning. <\/strong>Today\u2019s guest: <strong>Mohamed <\/strong><strong>Saad Eldin<\/strong>, regional chief of <strong>Signify<\/strong>. We\u2019ll be running C-suite interviews on climate throughout COP27 (and probably for a few days beyond) in both Enterprise Climate and EnterpriseAM.<\/p><p><strong>FROM THE DEPT. OF GOOD NEWS- Saad Eldin says Signify is looking at Egypt as an <\/strong><strong>export hub <\/strong>from which the global maker of LED lighting (formerly known as Philips Lighting) can serve demand in Africa. We love it \u2014 and will take this occasion to remind everyone that the only way forward for our economy is to <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/edition\/am\/feeda831-c0fd-43df-b197-08ddb74254e7\">transform ourselves into a magnet for FDI and exports<\/a>.<\/p><hr class=\"grey-line\"><p><strong>MEANWHILE- EGP WATCH<\/strong>- The EGP fell again against the greenback yesterday, ending the day 0.2% lower to trade at EGP 24.37, according to central bank figures. The currency has now dropped 23.3% since the CBE\u2019s move towards \u201ca durably flexible\u201d exchange rate at the end of October \u2014 and 54.4% since the initial devaluation in March.<\/p><p><strong>AND- Global golf is coming to Egypt:<\/strong> The Asian Tour\u2019s International Series is making a stop in Egypt this Thursday, 10 November, through Sunday, 13 November. The first International Series Egypt will take place at Madinaty Golf Club, with a generous purse of USD 1.5 mn on offer.<\/p><p><strong>MORE OF THIS, PLEASE: <\/strong>Some of us (at least the one editing this morning\u2026) prefer bashing fuzzy yellow balls, but we\u2019re delighted for those of you who enjoy going for long walks while swatting small, white spheroids with weighted sticks. Hats off to the people at TMG for putting us on the map of a global sport.<\/p><hr class=\"grey-line\"><p><strong>COP 27 TODAY-<\/strong><\/p><p><a class=\"content-anchor\" id=\"tldr-story-02\"><\/a> <strong>It\u2019s the second day of the world leaders\u2019 summit in Sharm, with more national statements <\/strong><strong>on the docket:<\/strong> The session is expected to start at 10:30 am CLT (11:30 am KSA \/ 12:30 pm UAE) and continue until the end of the day, according to <a href=\"https:\/\/ent.news\/2022\/11\/Daily_Programme_Sharm-el-Sheikh2022-OD-20221107-en.pdf\">the agenda (pdf)<\/a>.<\/p><p><strong>Among those speaking today<\/strong> \u2014 according to the <a href=\"https:\/\/ent.news\/2022\/11\/List-of-Speakers-First-part-of-the-high-level-segment-for-Heads-of-State-and-Government-COP-27.pdf\">list of speakers (pdf)<\/a>:<\/p><ul>\n<li>Arab leaders including Libyan President <strong>Mohamed Menfi<\/strong>, Lebanon\u2019s Prime Minister <strong>Mohamad Najib Mikati<\/strong>, Tunisian Prime Minister <strong>Najla Bouden Ep Romdhan<\/strong>, Palestinian Prime Minister <strong>Mohammad I. M. Shtayyeh<\/strong>;<\/li>\n<li>European leaders, including European Council President <strong>Charles Michel<\/strong>, and European Commission President <strong>Ursula von der Leyen<\/strong>;<\/li>\n<li>South African President <strong>Cyril Ramaphosa<\/strong>.<\/li>\n<\/ul><p><strong>Today\u2019s big roundtables include:<\/strong><\/p><ul>\n<li><a href=\"https:\/\/www.cop27.eg\/assets\/files\/days\/COP27%20INVESTING%20IN%20THE%20FUTURE%20OF%20ENERGY-DOC-01-EGY-10-22-EN.pdf\">Investing in the future of energy (pdf)<\/a> \u2014 green hydrogen takes center stage<\/li>\n<li><a href=\"https:\/\/www.cop27.eg\/assets\/files\/days\/COP27%20WATER%20SECURITY-DOC-01-EGY-10-22-EN.pdf\">Water security (pdf)<\/a> \u2014 75% of all natural disasters are water-related, and drought has caused more than a third of climate-related deaths and economic damage in the seven years ending 2018.<\/li>\n<li><a href=\"https:\/\/www.cop27.eg\/assets\/files\/days\/COP27%20CLIMATE%20CHANGE-DOC-01-EGY-10-22-EN.pdf\">\u201cVulnerable communities\u201d (pdf)<\/a> \u2014 in other words, all the ways in which the climate is kicking us off our land and out of our homes. 10 mn people displaced in Pakistan. 1.1 mn in Somalia. What do we think will happen here if Alexandria starts sliding into the sea?<\/li>\n<\/ul><p><strong>AND THEN WHAT\u2026? Don\u2019t expect any big announcements or major breakthroughs after <\/strong><strong>leaders are done giving their speeches today.<\/strong> The key issues at play (loss and damage, emission reduction targets etc.) are being negotiated by government delegations over the next 10 days <strong>so we\u2019ll likely have to wait until 18 November for a final agreement<\/strong> to come out of COP27.<\/p><p><strong>WHAT TO WATCH FOR-<\/strong><\/p><p><strong>NWFE funding agreements signed today:<\/strong> Egypt will sign today several partnership agreements and letters of intent with international finance institutions and development partners to implement projects under its Nexus on Water, Food and Energy (<a href=\"https:\/\/www.sis.gov.eg\/Story\/169930\/Egypt-aspires-to-present-success-story-in-COP27?lang=en-us\">NWFE<\/a>) program, the International Cooperation Ministry said in <a href=\"https:\/\/bit.ly\/3AhXJIH\">a statement<\/a> yesterday.<\/p><p><strong>Egypt will start producing green fuel today:<\/strong> The Suez Canal Economic Zone (SCZone) <a href=\"https:\/\/bit.ly\/3UeM7xH\">will announce<\/a> \u201cin the coming hours\u201d the first production of green ammonia at Sokhna Industrial Zone.<\/p><p><strong>REMEMBER<\/strong>- The SCZone is expected to sign a number of agreements with international companies to establish green hydrogen and ammonia plants at the summit. Initial agreements worth some USD 33 bn have been signed this year, the most recent of which was with Maersk for a <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/cca9f0fa-7d56-4a59-96e2-7b21beb9e915\">huge USD 15 bn facility<\/a>capable of producing 3 mn tons of fuel a year.<\/p><p><strong>New climate agreements with the IFC? <\/strong>The International Finance Corporation (IFC) is working on several climate-related agreements with Egypt, IFC VP Emmanuel Nyirinkindi told CNBC Arabia in an interview (<a href=\"http:\/\/bit.ly\/3zTBdVY\">watch, runtime: 3:58<\/a>), without providing further details. \u201cThe IFC will announce in the coming weeks a new USD 2 bn for climate projects and other innovative projects,\u201d he said separately.<\/p><p class=\"web-image\"><img data-recalc-dims=\"1\" decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2022\/11\/Climate-X-6-Dec-1600px.jpg?ssl=1\" alt=\"enterprise\"><\/p><p><a class=\"content-anchor\" id=\"tldr-story-09\"><\/a> <strong>The Enterprise Climate X Forum, our first industry-specific conference is taking place on <\/strong><strong>Tuesday, 6 December. <\/strong>It\u2019s a C-suite event for CEOs and top execs, investors, bankers and development finance folks.<\/p><p>In panels, live interviews and networking sessions, <strong>the Enterprise Climate X Forum will give insiders and newcomers alike the chance to talk about how to build a climate-centered business <\/strong>\u2014 and how to make sure your business continues to have access to the funds it needs to grow. Expect it to be <strong>heavy on lessons learned in Egypt and other global growth markets \u2014 and lots of success stories.<\/strong><\/p><p><strong>Some of the biggest names in business and finance are on board \u2014 are you? <\/strong>The Enterprise Climate X Forum is taking place with the generous support of our friends, including:<\/p><ul>\n<li><strong>Banking partners: <\/strong>HSBC | Mashreq | Attijariwafa Bank<\/li>\n<li><strong>Telecom partner:<\/strong> Etisalat by e&amp;<\/li>\n<li><strong>Event partners:<\/strong> Hassan Allam Utilities | Infinity<\/li>\n<\/ul><p><strong>DO YOU WANT TO ATTEND? The first wave of invites is going out today. <\/strong>If you\u2019re a C-suite exec, business owner, climate professional, DFI staff, investor or banker, please email us at <a href=\"mailto:climatexrsvp@enterprisemea.com\">climatexrsvp@enterprisemea.com<\/a> to signal your interest, letting us know your name, title and where you work.<\/p><p><strong>You\u2019re going to love the venue when we unveil it next week.<\/strong><\/p><p><strong>Want to reach our audience? <\/strong>Ping a note to Moustafa Taalab, our head of commercial, <a href=\"mailto:mtaalab@inktankir.com\">here<\/a>.<\/p><hr class=\"grey-line\"><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>THE BIG STORY ABROAD-<\/strong><\/p><p><a class=\"content-anchor\" id=\"tldr-story-08\"><\/a> <strong>COP27 is continuing to take a back seat to the US midterms in much of the Western <\/strong><strong>press this morning<\/strong> as Democrats and Republicans make their final pitches to voters before the polls open today. (<a href=\"https:\/\/www.reuters.com\/legal\/election-eve-lawsuits-target-ballot-rules-key-us-states-2022-11-07\/\">Reuters<\/a> | <a href=\"https:\/\/apnews.com\/article\/2022-midterm-elections-biden-donald-trump-congress-81685e6030f13360727420eaa1882a02?utm_source=homepage&amp;utm_medium=TopNews&amp;utm_campaign=position_01\">Associated Press<\/a> | <a href=\"https:\/\/www.washingtonpost.com\/elections\/2022\/11\/07\/democrats-republicans-midterms\/\">Washington Post<\/a> | <a href=\"https:\/\/www.nytimes.com\/live\/2022\/11\/07\/us\/election-midterm-news\">New York Times<\/a> | <a href=\"https:\/\/www.wsj.com\/articles\/candidates-make-last-pitches-in-final-hours-of-midterms-campaigning-11667817002\">Wall Street Journal<\/a>)<\/p><p><strong>The final forecasts:<\/strong> Nate Silver\u2019s <a href=\"https:\/\/fivethirtyeight.com\/videos\/republicans-are-favored-in-our-final-midterm-forecasts\/\">FiveThirtyEight<\/a> makes Republicans the heavy favorites to take the House and has them edging the race for the Senate. <a href=\"https:\/\/www.politico.com\/2022-election\/race-forecasts-ratings-and-predictions\/\">Politico\u2019s forecast<\/a> is similar, giving the House to the GOP but saying that the Senate remains too close to call. Republicans only need to gain five seats in the House and one in the Senate to take control of both legislative bodies.<\/p><p><strong>Markets are welcoming the prospect of a lame duck president:<\/strong> Shares on Wall Street rose sharply during trading yesterday as polls continued to predict strong gains for the Republicans in the House. The benchmark S&amp;P 500 gained 1% and the tech-heavy Nasdaq rose 0.9%, with Meta shares surging 6.5% on reports that the company is preparing to lay off thousands of workers. <a href=\"https:\/\/www.reuters.com\/markets\/us\/futures-rise-focus-shifts-midterm-elections-2022-11-07\/\">Reuters<\/a> and <a href=\"https:\/\/www.ft.com\/content\/bd9560a8-af53-42d7-8c0e-0ed6745818de\">the Financial Times<\/a> have more.<\/p><p><strong>Trump 2024 to launch next week?<\/strong> Former president Donald Trump said at a rally an hour ago that he will make a \u201c<a href=\"https:\/\/www.barrons.com\/news\/trump-says-making-very-big-announcement-on-nov-15-01667877306?refsec=topics_afp-news\">very big announcement<\/a>\u201d on 15 November.<\/p><p><strong>ALSO HAPPENING TODAY-<\/strong><\/p><p><strong>It\u2019s the final day of the <\/strong><strong><a href=\"https:\/\/alex.technesummit.com\/2022\">Techne Summit<\/a><\/strong><strong> at the Bibliotheca Alexandrina:<\/strong> The hybrid event brings together entrepreneurs and investors from various sectors in the Mediterranean region.<\/p><p>The <strong>Senate Education and Telecommunications Committee<\/strong> will begin discussing the <strong>Digital Egypt Fund draft bill<\/strong> today. The draft bill, approved by the Cabinet <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/a3f3cba0-4e3e-4ff5-b256-14c19025522f\">last year<\/a>, would set up a fund to support the Communications Ministry\u2019s <a href=\"https:\/\/mcit.gov.eg\/en\/Digital_Egypt\">Digital Egypt<\/a> initiative.<\/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><strong>CORRECTION-<\/strong> In our coverage of <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/5b387f20-658e-4fcc-89e6-602f5c20a966\">CIRA Education\u2019s future flow issuance<\/a> yesterday, we picked up a statement that said that Arab International Bank (AIB) subscribed to the issuance and acted as custodian and an underwriter. It has come to our attention that AIB was not involved in the transaction and that Ahli United Bank was the custodian. We have since updated the story on our website.<\/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\/cop27\/\">COP27<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/golf\/\">Golf<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/us-midterm-elections\/\">US midterm elections<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/what-were-tracking-today\/\">What We&#039;re Tracking Today<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                    <\/div>\n    <\/div>\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"577055\" 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=\"577055\">\r\n            \r\n            <div class=\"story__body\">\r\n\r\n                <a href=\"https:\/\/enterpriseam.com\/egypt\/2022\/11\/08\/577055\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-577055\" class=\"content-area-description single-story post-577055 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 decoding=\"async\" data-recalc-dims=\"1\" 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 &Scaron;uli\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=\"577056\" 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=\"577056\">\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\">COP WATCH<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2022\/11\/08\/somber-warnings-as-world-leaders-summit-kicks-off-at-cop27\/\">\r\n                            Somber warnings as world leaders\u2019 summit kicks off at COP27                        <\/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\/08\/somber-warnings-as-world-leaders-summit-kicks-off-at-cop27\/\" 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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Inaugurating the conference, President Abdel Fattah El Sisi said we\u2019re in a \u201cworld of suffering,\u201d calling on all countries to assume responsibility to tackle climate change \u201cto the degree that they can\u201d (<a href=\"https:\/\/www.youtube.com\/watch?v=EJzqFOeyTnE&list=PLtD6YOC_kbMjlDTyt4sdAMbnC_SWszBPS&index=4\">watch, runtime: 19:50<\/a>).<\/p>\n<p><strong>The message was clear: The status quo can\u2019t continue.<\/strong> \u201cGreenhouse gas emissions keep growing. Global temperatures keep rising. And our planet is fast approaching tipping points that will make climate chaos irreversible,\u201d said UN Secretary General Antonio Guterres (<a href=\"https:\/\/www.youtube.com\/watch?v=YAVgd5XsvbE\">watch, runtime: 10:15<\/a>). <strong>\u201cWe are on a highway to climate hell with our foot still on the accelerator.\u201d<\/strong><\/p>\n<p><strong>Developing countries are not holding back in their criticism of rich nations<\/strong> as the debate over climate reparations continues:<\/p>\n<ul>\n<li><strong>Barbados PM <\/strong><strong><a href=\"https:\/\/www.theguardian.com\/environment\/2022\/nov\/07\/barbados-pm-mia-mottley-launches-blistering-attack-on-rich-nations-at-cop27-climate-talks\">Mia Mottley<\/a><\/strong><strong> was most strident in her criticism:<\/strong> \u201cWe were the ones whose blood, sweat and tears financed the industrial revolution \u2026 Are we now to face double jeopardy by having to pay the cost as a result of those greenhouse gasses from the industrial revolution? That is fundamentally unfair.\u201d<\/li>\n<li><strong><a href=\"https:\/\/www.reuters.com\/business\/cop\/cop27-what-are-they-saying-climate-summit-2022-11-07\/\">Faustin Archange Touadera<\/a><\/strong><strong>, president of the Central African Republic, agreed: <\/strong>\u201cWe should say clearly the rich countries \u2060\u2014 the top polluters \u2060\u2014 are the ones who are most to blame for endangering humanity.\u201d<\/li>\n<li><strong>As did Kenya\u2019s new president, <\/strong><strong><a href=\"https:\/\/nation.africa\/kenya\/news\/president-ruto-s-full-speech-at-cop27-4012092\">William Ruto<\/a><\/strong><strong>, who spoke representing the African Group of negotiators: <\/strong>\u201cLoss and damage is not an abstract topic of endless dialogue: it is our daily experience and the living nightmare of millions of Kenyans and hundreds of millions of Africans.\u201d Noting that Africa contributes only 3% to global emissions, Ruto said that it \u201cis therefore only fair and proper that this conference takes necessary measures to recognise Africa\u2019s special needs and circumstances under the Paris Agreement\u201d (<a href=\"https:\/\/www.youtube.com\/watch?v=I6GpvUnZiiY\">watch, runtime: 14:01<\/a>).<\/li>\n<\/ul>\n<p><strong>Developing countries <\/strong><strong><a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/9f457215-5220-419a-9c98-790523c4b303\">have fought<\/a><\/strong><strong> to get \u201closs and damage\u201d on the agenda for the <\/strong><strong>summit f<\/strong><strong>or <\/strong><strong>the first time this year:<\/strong> Low- and middle-income nations are demanding that rich countries provide more financial support to help them weather the impact of climate change after they <a href=\"https:\/\/www.politico.eu\/article\/rich-countries-break-totemic-100b-annual-climate-pledge-cop26-warming-co2\/\">broke a pledge to provide USD 100 bn<\/a> a year to the developing world. Wealthy countries have refused to agree to discuss compensation for more than a decade and were accused of \u201cbullying\u201d poorer countries to strike it from the COP27 agenda.\u2019<\/p>\n<p><strong>Some in the West recognize the problem: <\/strong>Global leaders have a \u201ccredibility problem\u201d when it comes to taking action on climate change, said former US Vice President and long-time climate advocate Al Gore (<a href=\"https:\/\/www.youtube.com\/watch?v=qLTcC7srnLw\">watch, runtime: 14:50<\/a>). Developed nations\u2019 continued pursuit of Africa\u2019s gas resources is \u201cfossil fuel colonialism,\u201d said Gore, which will lead to \u201cclimate chaos and bns in stranded assets, especially here in Africa.\u201d<\/p>\n<p><strong>The idea has gotten a mixed reception among developed countri<\/strong><strong>es:<\/strong><\/p>\n<ul>\n<li><strong><a href=\"https:\/\/news.sky.com\/story\/scotland-to-pledge-additional-funding-towards-irreparable-loss-and-damage-for-climate-change-nicola-sturgeon-says-12740710\">Scotland<\/a><\/strong> and <strong><a href=\"https:\/\/www.reuters.com\/world\/cop-27-dutch-boost-climate-funding-developing-nations-pm-says-2022-11-07\/\">the Netherlands<\/a><\/strong> both said yesterday they would step up climate funding to the developing world;<\/li>\n<li>But ex-UK prime minister <strong><a href=\"https:\/\/www.ft.com\/content\/532e3c47-e4cc-4e37-bc4a-4810b76d4a4b\">Boris Johnson<\/a><\/strong> said that the UK does not have the money to pay loss and damage.<\/li>\n<\/ul>\n<p><strong>THE BUSINESS OF CLIMATE-<\/strong><\/p>\n<p><strong>Highlights <\/strong>from the second day of the conference:<\/p>\n<ul>\n<li><strong>Sahel green hydrogen plant:<\/strong> A Belgian consortium presented to Egyptian authorities a feasibility study on establishing a 500-MW green hydrogen plant on the Mediterranean coast. (<a href=\"https:\/\/bit.ly\/3zWg9hE\">Cabinet statement<\/a>)<\/li>\n<li><strong>AstraZeneca to help lower emissions in Egypt\u2019s health sector:<\/strong> A MoU was signed between the General Authority for Healthcare (GAH) and AstraZeneca to look at lowering emissions in the healthcare sector. (<a href=\"https:\/\/bit.ly\/3WExGEV\">Cabinet statement<\/a>)<\/li>\n<\/ul>\n<p><strong>CLIMATE DIPLOMACY- <\/strong><\/p>\n<p><strong>President El Sisi used the opening day of the conference to hold several meetings with <\/strong><strong>global leaders:<\/strong><\/p>\n<ul>\n<li><strong>El Sisi x Sunak:<\/strong> El Sisi discussed economic and trade ties with the UK in his first meeting with new UK prime minister Rishi Sunak, according to readouts from <a href=\"https:\/\/bit.ly\/3FVAAz3\">Ittihadiya<\/a> and the <a href=\"https:\/\/www.gov.uk\/government\/news\/pm-meeting-with-egyptian-president-abdel-fattah-al-sisi-7-november-2022\">UK government<\/a>. Sunak\u2019s office said the two talked about green hydrogen and private investment \u2014 and that the prime minister expressed \u201cdeep concern\u201d over the fate of imprisoned political activist <strong>Alaa Abdel Fattah<\/strong> (more on this in Egypt in the News, below). \u201cThe Prime Minister said he hoped to see this resolved as soon as possible and would continue to press for progress,\u201d the statement read.<\/li>\n<li><strong>El Sisi x Macron:<\/strong> El Sisi discussed the crises in Ukraine and Libya with French President Emmanuel Macron, according to an <a href=\"https:\/\/bit.ly\/3hlPPaz\">Ittihadiya statement<\/a>. Macron said following the meeting that he had also discussed Abdel Fattah with El Sisi, and that the president \u201ccommitted to ensuring that (the) health of Alaa Abdel Fattah is preserved,\u201d according to <a href=\"https:\/\/www.barrons.com\/news\/france-s-macron-says-raised-case-of-hunger-striker-with-egypt-s-sisi-01667852107\">AFP<\/a>.<\/li>\n<li><strong>El Sisi x Meloni:<\/strong> Energy, climate, immigration and human rights were on the agenda for talks between El Sisi and the new Italian prime minister, according to a statement from Meloni\u2019s office picked up by <a href=\"https:\/\/www.reuters.com\/world\/italys-meloni-discusses-energy-with-egypts-sisi-raises-rights-issues-2022-11-07\/\">Reuters<\/a>.<\/li>\n<li><strong>Madbouly x De Croo: <\/strong>Prime Minister Moustafa Madbouly discussed green hydrogen and clean energy with his Belgian counterpart, cabinet <a href=\"https:\/\/bit.ly\/3Uyzpd5\">said<\/a><strong>.<\/strong><\/li>\n<\/ul>\n<p><strong>Want more from COP27?<\/strong> Head over to this morning\u2019s issue of <a href=\"https:\/\/climate.enterprise.press\/issues\/2022\/11\/08\/somber-warnings-world-leaders-summit-kicks-off-cop27\/\">Enterprise Climate<\/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\/abdel-fattah-el-sisi\/\">Abdel Fattah El Sisi<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/antonio-guterres\/\">Antonio Guterres<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/climate\/\">Climate<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/cop-watch\/\">COP WATCH<\/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\/diplomacy\/\">DIPLOMACY<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/emmanuel-macron\/\">Emmanuel Macron<\/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                    <\/div>\n    <\/div>\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"577058\" 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=\"577058\">\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\">M&amp;A WATCH<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2022\/11\/08\/fund-run-by-rachid-mohamed-rachid-acquires-minority-stake-in-azza-fahmy\/\">\r\n                            Fund run by Rachid Mohamed Rachid acquires minority stake in Azza Fahmy                        <\/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\/08\/fund-run-by-rachid-mohamed-rachid-acquires-minority-stake-in-azza-fahmy\/\" 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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This gave the investment fund a \u201csignificant minority stake.\u201d<\/p>\n<p><strong>But the company is clear on where it wants to go:<\/strong> The luxury brand plans to open two new flagship stores in the first half of 2023 and expand internationally, including eventually making its debut in the US.<\/p>\n<p><strong>Bidayat is run by former Egyptian trade and industry minister <\/strong><strong><a href=\"https:\/\/www.valentino.com\/en-gb\/world-of-valentino\/maison\">Rachid Mohamed Rachid<\/a><\/strong>, who is now chairman of fashion giants Valentino in Italy and Balmain in France, as well as CEO of Qatari luxury goods investment vehicle <a href=\"https:\/\/www.mayhoola.com\/\">Mayhoola<\/a>. It is a sub-fund of the Swiss-based Alsara Investment Group, which has recently embarked on a string of partnerships with high-profile fashion brands, buying a stake in Swiss eyewear start-up <a href=\"https:\/\/www.instagram.com\/akonigroup\/\">Akoni Group<\/a> and acquiring a majority share in puffer-jacket brand <a href=\"https:\/\/khrisjoy.com\/en-eg\/home\">Khrisjoy<\/a>, and Adorisa and lately luxury Egyptian handbag brand <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/176b7ea6-8340-4336-8e95-5e5e195ed476\">Okhtein<\/a>.<\/p>\n<p><strong>Rachid has big plans for the company:<\/strong> Bidayat wants to add five or six new locations in the Middle East, Turkey and southern Europe every year, Rachid told the magazine. There is \u201cserious potential\u201d for the firm to expand the region before looking to markets further afield such as the US, China and the rest of Europe, he said.<\/p>\n<p><strong>Bidayat was not the first with an eye on Azza Fahmy<\/strong>: Several investors have been eyeing stakes in the female-led family business in the past years, Ghaly said, yet Bidayat was selected due to Rachid\u2019s experience in the industry and expertise in digital, distribution and brand-building.<\/p>\n<p><strong>Advisors:<\/strong> Alliance Law Firm acted as Bidayat\u2019s legal advisor, with BonelliErede in association with Bahaa-Eldin Law Office for Azza Fahmy.<\/p>\n<p><strong>LISTEN-<\/strong> We spoke to Fatma during Season One of our Making It podcast back in 2019. You can listen to the episode <a href=\"https:\/\/enterprise.press\/podcasts\/one-ring-rule-azza-fahmy-brand-became-precious-heirloom-nourished-global-luxury-powerhouse\/\">here<\/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\/azza-fahmy\/\">Azza Fahmy<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/bidayat\/\">Bidayat<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/fatma-ghaly\/\">Fatma Ghaly<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/luxury-goods\/\">luxury goods<\/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\/rachid-mohamed-rachid\/\">Rachid Mohamed Rachid<\/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=\"577060\" 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=\"577060\">\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\/08\/more-egyptian-companies-are-getting-attention-from-our-friends-in-the-gulf\/\">\r\n                            More Egyptian companies are getting attention from our friends in the Gulf                        <\/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\/08\/more-egyptian-companies-are-getting-attention-from-our-friends-in-the-gulf\/\" 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\/08\/more-egyptian-companies-are-getting-attention-from-our-friends-in-the-gulf\/')\">\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\/08\/more-egyptian-companies-are-getting-attention-from-our-friends-in-the-gulf\/\">\n                    Facebook                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/facebook-icon2.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a target=\"_blank\" href=\"https:\/\/x.com\/intent\/post?text=More Egyptian companies are getting attention from our friends in the Gulf&url=https:\/\/enterpriseam.com\/egypt\/2022\/11\/08\/more-egyptian-companies-are-getting-attention-from-our-friends-in-the-gulf\/\">\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\/08\/more-egyptian-companies-are-getting-attention-from-our-friends-in-the-gulf\/&title=More Egyptian companies are getting attention from our friends in the Gulf\">\n                    LinkedIn                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/linkedin-icon.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a href=\"https:\/\/api.whatsapp.com\/send?text=More+Egyptian+companies+are+getting+attention+from+our+friends+in+the+Gulf+https%3A%2F%2Fenterpriseam.com%2Fegypt%2F2022%2F11%2F08%2Fmore-egyptian-companies-are-getting-attention-from-our-friends-in-the-gulf%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\/08\/more-egyptian-companies-are-getting-attention-from-our-friends-in-the-gulf\/\">\r\n                    <div class=\"photo photo--above\">\r\n                        <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2022\/11\/128.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"577061\" data-permalink=\"https:\/\/enterpriseam.com\/egypt\/2022\/11\/08\/more-egyptian-companies-are-getting-attention-from-our-friends-in-the-gulf\/128-jpg-15\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2022\/11\/128.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"128.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2022\/11\/128.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2022\/11\/128.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-577060\" class=\"content-area-description single-story post-577060 post type-post status-publish format-standard has-post-thumbnail hentry category-ma-watch tag-al-gihaz-holding tag-ancla-marine-ship-management tag-cira-education tag-education tag-energy tag-enterpriseam tag-ma-watch tag-maridive tag-oil-and-gas 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-05\"><\/a> <strong>More Gulf M&A:<\/strong> Separate firms in Saudi Arabia and Abu Dhabi look like they could enter a bidding war for a Maridive Oil and Service subsidiary, and Gulf investors including sovereign wealth funds have upped their minority stakes in EGX-listed education outfit CIRA Education.<\/p>\n<p><strong>PIF & CO TAKE STAKE IN CIRA-<\/strong><\/p>\n<p><strong>Several Gulf-based funds \u2014 including Saudi Arabia\u2019s Public Investment Fund \u2014 <\/strong><strong>now <\/strong><strong>own 15% of EGX-listed CIRA<\/strong><strong> Education, <\/strong><a href=\"https:\/\/bit.ly\/3DLVrCs\">Al Mal<\/a> quotes CEO Mohamed El Kalla as saying. PIF has bought stakes amounting to less than 5% of the company, El Kalla reportedly said, without disclosing the other Gulf funds who bought in or the sizes of the stakes they hold. The PIF and other investors have accumulated shares on the open market.<\/p>\n<p><strong>Owners:<\/strong> CIRA is 51.2% owned by Social Impact Capital \u2014 a vehicle belonging to the El Kalla family \u2014 with the remaining shares in freefloat, according to the company\u2019s website.<\/p>\n<p><strong>REMEMBER- Gulf sovereign funds have pledged to invest bns of USDs in local firms this year <\/strong>as part of efforts to help shore up Egypt\u2019s external position. Qatar has <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/c734fc23-c0c0-4322-bf5d-ce3c400e707a\">pledged<\/a> to invest as much as USD 5 bn in Egyptian companies, while both the PIF and Abu Dhabi\u2019s ADQ made their entry to the EGX in recent months, investing bns of USD in a number of locally listed state- and privately-owned companies. The PIF is reportedly still <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/d7ef0109-f72e-4b5c-a44d-005328a1c284\">eyeing stakes<\/a> in at least three high profile local firms. Gulf state neighbors have pledged <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/ce28f2c9-69b3-4c78-b2ab-1eb5d194e101\">over USD 22 bn<\/a> in total to support the economy amid the fallout from the crisis in Ukraine.<\/p>\n<p><strong>GULF FIRMS WANT MARIDIVE UNIT-<\/strong><\/p>\n<p><strong>Maridive Oil Services is mulling two separate bids from Gulf companies to acquire <\/strong><strong>100% of its subsidiary <\/strong><strong><a href=\"http:\/\/www.vmgulf.com\/\">Valentine Maritime<\/a><\/strong>, the company said in an <a href=\"https:\/\/ent.news\/2022\/11\/284350_1.pdf\">EGX disclosure (pdf)<\/a>. The company is studying a <a href=\"https:\/\/ent.news\/2022\/11\/283588_1.pdf\">takeover bid (pdf)<\/a> it received from Abu Dhabi\u2019s Ancla Marine Ship Management in October, as well as one from Saudi Arabia\u2019s Al Gihaz Holding. The company said it has \u201cyet to receive final financial details\u201d on the bids, without disclosing further details on the offers. Once all regulatory requirements and procedures are completed, the company will present the bids to the board, the statement said.<\/p>\n<p><strong>About Valentine Maritime: <\/strong>The offshore subsidiary \u2014 which is 100% owned by Maridive \u2014 specializes in oil rig and chartering services, and currently operates in India and the Gulf.<\/p>\n<p><strong>This isn\u2019t the first time one of Maridive\u2019s subsidiaries gets interest from Gulf players: <\/strong>The company was previously in talks with Jeddah-based Al Subaie Investment Group over the <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/7f01d21d-dcfe-498f-8969-7b061bc677d0\">sale of its subsidiary Maridive Offshore Projects<\/a> for USD 48 mn \u2014 but <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/8c06421e-7c3e-41fe-9f7f-eb6fce2ba842\">talks ended<\/a> without an agreement.<\/p>\n\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/al-gihaz-holding\/\">Al Gihaz Holding<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/ancla-marine-ship-management\/\">Ancla Marine Ship Management<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/cira-education\/\">CIRA Education<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/education\/\">Education<\/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\/ma-watch\/\">M&amp;A Watch<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/maridive\/\">Maridive<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/oil-and-gas\/\">oil and gas<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/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=\"577062\" 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=\"577062\">\r\n            \r\n                <div class=\"issue-story-header text-center\">\r\n                    <div class=\"index-number\">5<\/div>\r\n\r\n                    <p class=\"f-graphik\">Startup watch<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2022\/11\/08\/foodtech-startup-brotinni-closes-usd-600k-seed-round\/\">\r\n                            Foodtech startup Brotinni closes USD 600k seed round                        <\/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\/08\/foodtech-startup-brotinni-closes-usd-600k-seed-round\/\" 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\/08\/foodtech-startup-brotinni-closes-usd-600k-seed-round\/')\">\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\/08\/foodtech-startup-brotinni-closes-usd-600k-seed-round\/\">\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=Foodtech startup Brotinni closes USD 600k seed round&url=https:\/\/enterpriseam.com\/egypt\/2022\/11\/08\/foodtech-startup-brotinni-closes-usd-600k-seed-round\/\">\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\/08\/foodtech-startup-brotinni-closes-usd-600k-seed-round\/&title=Foodtech startup Brotinni closes USD 600k seed round\">\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=Foodtech+startup+Brotinni+closes+USD+600k+seed+round+https%3A%2F%2Fenterpriseam.com%2Fegypt%2F2022%2F11%2F08%2Ffoodtech-startup-brotinni-closes-usd-600k-seed-round%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\/08\/foodtech-startup-brotinni-closes-usd-600k-seed-round\/\">\r\n                    <div class=\"photo photo--above\">\r\n                        <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2022\/11\/130.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"577063\" data-permalink=\"https:\/\/enterpriseam.com\/egypt\/2022\/11\/08\/foodtech-startup-brotinni-closes-usd-600k-seed-round\/130-jpg-18\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2022\/11\/130.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"130.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2022\/11\/130.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2022\/11\/130.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-577062\" class=\"content-area-description single-story post-577062 post type-post status-publish format-standard has-post-thumbnail hentry category-startup-watch tag-brotinni tag-enterpriseam tag-fb tag-family-corp tag-grocery tag-move tag-startup-watch tag-startups 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>Online butcher <\/strong><strong><a href=\"https:\/\/www.linkedin.com\/company\/brotinni\/\">Brotinni<\/a><\/strong><strong> raised USD 600k in a seed round<\/strong>, it said in <a href=\"https:\/\/ent.news\/2022\/11\/Brotinni-Seed-round.pdf\">a statement (pdf)<\/a> yesterday. The funding round was led by <a href=\"https:\/\/www.linkedin.com\/company\/innlife-investment-technology-company\/\">Innlife Investments<\/a>.<\/p>\n<p><strong>Egypt\u2019s first \u201cdark butcher\u201d: <\/strong>Founded in 2020 by CEO Dalia Abou Omar (<a href=\"https:\/\/www.linkedin.com\/in\/dalia-abou-omar-12506328\/\">LinkedIn<\/a>), the startup sells fresh meat and poultry as well as frozen ready-to-cook products for home delivery. The company recently inaugurated its first fulfillment warehouse, piloting the <a href=\"https:\/\/enterprise.press\/stories\/2019\/05\/22\/startups-are-fuelling-a-dark-kitchen-industry\/\">dark store \/ kitchen<\/a><a href=\"https:\/\/enterprise.press\/stories\/2019\/05\/22\/startups-are-fuelling-a-dark-kitchen-industry\/\">concept<\/a> for the meat industry.<\/p>\n<p><strong>The company plans to expand in Egypt:<\/strong> Brotinni currently operates in Greater Cairo, and has plans to open more \u201cdark butchers\u201d to serve customers in other parts of the country, Abou Omar told Enterprise. Brotinni\u2019s products are available across a number of online grocery stores and will soon be available via its website and app, which she says are set to go live by the end of November.<\/p>\n<p><strong>Better tech, bigger fleets:<\/strong> The funding will go towards \u201cenhancing the startup's technology with regards to the vacuum seal bags it uses \u2026 and increasing the size of its fleet to ensure fast shipping and same-day delivery,\u201d Abou Omar told us.<\/p>\n<p><strong>THERE\u2019S <\/strong><strong>A NEW TRANSPORT APP IN TOWN-<\/strong><\/p>\n<p><strong>Mainstream transport group <\/strong><strong><a href=\"https:\/\/family-corp.com\/\">Family Corp<\/a><\/strong><strong>. and <\/strong><strong><a href=\"https:\/\/www.softec.ai\/\">Softec Technologies<\/a><\/strong><strong> have launched Move, a <\/strong><strong>transport app<\/strong> in Greater Cairo and Alexandria, they said in <a href=\"https:\/\/ent.news\/2022\/11\/MOVE-Press-Release-Clean-EN-Final.pdf\">a statement (<\/a><a href=\"https:\/\/ent.news\/2022\/11\/MOVE-Press-Release-Clean-EN-Final.pdf\">pdf<\/a><a href=\"https:\/\/ent.news\/2022\/11\/MOVE-Press-Release-Clean-EN-Final.pdf\">)<\/a> yesterday. They plan through their partnership to invest EGP 10 mn in the next two years in the two cities.<\/p>\n<p><strong>Move has three different functions:<\/strong><\/p>\n<ul>\n<li><strong>Move Commute<\/strong>: Commuters can book seats on scheduled bus routes with various subscription plans to make the commute more affordable. This service was launched as a soft launch in August.<\/li>\n<li><strong>Move Schools<\/strong>: The app allows parents to monitor school transport, notifying them when their children are on the bus and alerting them of possible delays. It was launched in October.<\/li>\n<li><strong>Move Courier:<\/strong> The companies will launch a courier service before the end of the year, allowing delivery drivers to optimize their routes and manage shipments.<\/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\/brotinni\/\">Brotinni<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/fb\/\">F&amp;B<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/family-corp\/\">Family Corp<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/grocery\/\">Grocery<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/move\/\">MOVE<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/startup-watch\/\">Startup watch<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/startups\/\">startups<\/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=\"577064\" 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=\"577064\">\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\">Moves<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2022\/11\/08\/kima-gmci-appoint-new-chairmen\/\">\r\n                            Kima, GMCI appoint new chairmen                        <\/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 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   <\/li>\n            <li class=\"list-inline-item\">\n                <a href=\"https:\/\/api.whatsapp.com\/send?text=Kima%2C+GMCI+appoint+new+chairmen+https%3A%2F%2Fenterpriseam.com%2Fegypt%2F2022%2F11%2F08%2Fkima-gmci-appoint-new-chairmen%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\/08\/kima-gmci-appoint-new-chairmen\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-577064\" class=\"content-area-description single-story post-577064 post type-post status-publish format-standard hentry category-moves tag-enterpriseam tag-gmci tag-kima tag-moves wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<p>State-owned, EGX-listed<strong> Egyptian Chemical Industries (Kima) <\/strong>has appointed <strong>Mahmoud Ibrahim<\/strong> as the company\u2019s <strong>non-executive chairman<\/strong> following the resignation of Hisham Hassan, it said in <a href=\"https:\/\/ent.news\/2022\/11\/KIMA-CEO-appointment.pdf\">an EGX disclosure (pdf)<\/a> yesterday.<\/p>\n<p>EGX-listed <strong>GMC Group Industrial Commercial and Financial Investments<\/strong> (GMCI) has appointed <strong>Ahmed Ibrahim<\/strong> as the company\u2019s chairman, <strong>Mohamed Badran<\/strong> as deputy chairman, and <strong>Al Hossainy Moussa<\/strong> as<strong> managing director<\/strong>, according to <a href=\"https:\/\/ent.news\/2022\/11\/GMCI-BoD-statement.pdf\">an EGX filing (pdf)<\/a> yesterday.<\/p>\n\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/gmci\/\">GMCI<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/kima\/\">Kima<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/moves\/\">moves<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                    <\/div>\n    <\/div>\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"577065\" class=\"issue-section \">\n<div class=\"issue-section__content\">\n<div class=\"stories\">            <!-- Show divider before story section -->\r\n        <div \r\n            class=\"\r\n                            \"\r\n            id=\"577065\">\r\n            \r\n            <div class=\"story__body\">\r\n\r\n                <a href=\"https:\/\/enterpriseam.com\/egypt\/2022\/11\/08\/577065\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-577065\" class=\"content-area-description single-story post-577065 post type-post status-publish format-standard hentry category-uncategorized wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<p class='web-image'><a href='https:\/\/www.sodic.com\/'><img decoding=\"async\" data-recalc-dims=\"1\" src=\"https:\/\/i0.wp.com\/ent.news\/2022\/7\/Sodic-25_CONNECTIONS_1600px.jpg?ssl=1\" alt='enterprise'><\/a><\/p>\n\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"577066\" 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=\"577066\">\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\">LAST NIGHT\u2019S TALK SHOWS<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2022\/11\/08\/the-cop27-leaders-summit-dominates-the-conversation-on-the-nations-talk-shows\/\">\r\n                            The COP27 leaders\u2019 summit dominates the conversation on the nation\u2019s talk shows                        <\/a>\r\n                    <\/h3>\r\n\r\n                    \r\n\t\t\t\t\t\n<div 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href=\"https:\/\/api.whatsapp.com\/send?text=The+COP27+leaders%E2%80%99+summit+dominates+the+conversation+on+the+nation%E2%80%99s+talk+shows+https%3A%2F%2Fenterpriseam.com%2Fegypt%2F2022%2F11%2F08%2Fthe-cop27-leaders-summit-dominates-the-conversation-on-the-nations-talk-shows%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\/08\/the-cop27-leaders-summit-dominates-the-conversation-on-the-nations-talk-shows\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-577066\" class=\"content-area-description single-story post-577066 post type-post status-publish format-standard hentry category-last-nights-talk-shows tag-abdel-fattah-el-sisi tag-climate tag-cop27 tag-energy tag-enterpriseam tag-eu tag-giorgia-meloni tag-last-nights-talk-shows tag-russia wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<p><strong>It was all COP all night long on the talk shows last night<\/strong> as the talking heads recapped the opening ceremony and the first day of the leaders\u2019 summit.<\/p>\n<p><strong>President El Sisi\u2019s opening address and his plea to end the war in Ukraine<\/strong> received coverage from everyone, including Kelma Akhira (<a href=\"https:\/\/www.youtube.com\/watch?v=b-9ziuKAJ7c\">watch, runtime: 10:59<\/a>), Masaa DMC (<a href=\"https:\/\/www.youtube.com\/watch?v=DFXAf748iTY\">watch, runtime: 2:16)<\/a> and Al Hayah Al Youm (<a href=\"https:\/\/www.youtube.com\/watch?v=fXD65aofGZc\">watch, runtime: 0:58<\/a>) and others. UN Secretary General Antonio Guterres\u2019s speech in the summit was picked up by Kelma Akhira (<a href=\"https:\/\/www.youtube.com\/watch?v=Ve2UfFG-I8Y\">watch, runtime: 2:45<\/a>) and Masaa DMC (<a href=\"https:\/\/www.youtube.com\/watch?v=PWmk_-D2Qe0\">watch, runtime: 2:45<\/a>). Check out this morning\u2019s COP Watch, above, for more on the summit.<\/p>\n<p><strong>Ahmed Moussa went full Moussa:<\/strong> Ala Mas\u2019ouleety\u2019s Ahmed Moussa stayed true to character with breathless descriptions of the summit, declaring it a success on Day two because \u201ceveryone is here\u201d (except the leaders of China, India and Russia) and talking proudly about Egypt\u2019s notices in the foreign press (though we\u2019re not sure he\u2019s read many of the headlines) (<a href=\"https:\/\/www.youtube.com\/watch?v=AOZeT_f2X2g\">watch, runtime: 10:33<\/a>). El Hekaya\u2019s Amr Adib was more measured in his coverage (<a href=\"https:\/\/www.youtube.com\/watch?v=XePoknu_e4k\">watch, runtime: 23:07<\/a>), highlighting attendance by top officials to the summit. \u201cEveryone is in positive anticipation, they really want to do something,\u201d he said, stressing the need for implementation.<\/p>\n<p><strong>El <\/strong><strong>Sisi\u2019s meetings with several world leaders got a lot of attention.<\/strong> Moussa was ecstatic with how the meeting with new UK PM Rishi Sunak went down, asking his viewers to check how assertive the Egyptian president\u2019s body language was while they discussed the awkward subject of Alaa Abdel Fattah (<a href=\"https:\/\/www.youtube.com\/watch?v=rInN2oYrFGE\">watch, runtime: 4:41<\/a>). Moussa wasn\u2019t particularly sympathetic to Abdel Fattah\u2019s case and called for authorities to hold him accountable. El Sisi\u2019s meeting with Italian PM Giorgia Meloni got a mention from Al Hayah Al Youm (<a href=\"https:\/\/www.youtube.com\/watch?v=Y8Lf9YwEFuc\">watch, runtime: 2:17<\/a>).<\/p>\n<p><strong>Movers and shakers:<\/strong><\/p>\n<ul>\n<li>Masaa DMC\u2019s Ramy Radwan and <strong>World Trade Organization (WTO) Director-General Ngozi Okonjo-Iweala<\/strong> had a chat about how trade and logistics can reduce emissions. \u201cWe want to have trade not looked at as part of the problem, but rather a part of the solution,\u201d she said (<a href=\"https:\/\/www.youtube.com\/watch?v=tq1uGpP-jrw\">watch, runtime: 7:21<\/a>).<\/li>\n<li><strong>European Council President Charles Michel<\/strong> sat down for an interview with Kelma Akhira\u2019s Lamees El Hadidi (<a href=\"https:\/\/www.youtube.com\/watch?v=NTBYo4CafpQ\">watch, runtime: 10:09<\/a>) and spoke about the intensifying energy crisis in Europe.<\/li>\n<li><strong>World Food Program regional chief Corinne Fleische<\/strong>, was on Masaa DMC (<a href=\"https:\/\/www.youtube.com\/watch?v=p6FMMdxSLPE\">watch, runtime: 14:05<\/a>).<\/li>\n<li><strong>Environment Minister Yasmine Fouad<\/strong> was on with Moussa (<a href=\"https:\/\/www.youtube.com\/watch?v=Y-1LGVWFkUg\">watch, runtime: 5:57<\/a>).<\/li>\n<\/ul>\n\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/abdel-fattah-el-sisi\/\">Abdel Fattah El Sisi<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/climate\/\">Climate<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/cop27\/\">COP27<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/energy\/\">energy<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/eu\/\">EU<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/giorgia-meloni\/\">Giorgia Meloni<\/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\/russia\/\">Russia<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                    <\/div>\n    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   \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\">EGYPT IN THE NEWS<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2022\/11\/08\/alaa-abdel-fattah-cop27-continue-to-hold-the-worlds-attention\/\">\r\n                            Alaa Abdel Fattah + COP27 continue to hold the world\u2019s attention                        <\/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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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=Alaa+Abdel+Fattah+%2B+COP27+continue+to+hold+the+world%E2%80%99s+attention+https%3A%2F%2Fenterpriseam.com%2Fegypt%2F2022%2F11%2F08%2Falaa-abdel-fattah-cop27-continue-to-hold-the-worlds-attention%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\/08\/alaa-abdel-fattah-cop27-continue-to-hold-the-worlds-attention\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-577068\" class=\"content-area-description single-story post-577068 post type-post status-publish format-standard hentry category-egypt-in-the-news tag-alaa-abdel-fattah tag-coca-cola tag-cop27 tag-enterpriseam tag-human-rights tag-sameh-shoukry wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<p><a class=\"content-anchor\" id=\"tldr-story-03\"><\/a> <strong>It should come as no surprise that the international press is once again <\/strong><strong>laser-focused on COP27 and human rights this morning.<\/strong><\/p>\n<p><strong>Alaa Abdel Fattah\u2019s hunger strike continues to dominate the conversation<\/strong> The jailed activist\u2019s sister, Sanaa Seif, flew to Sharm El Sheikh yesterday to press for her brother\u2019s release on the day that UK Prime Minister Rishi Sunak expressed \u201cdeep concern\u201d about the situation during talks with President El Sisi. <a href=\"https:\/\/www.rfi.fr\/en\/international-news\/20221107-jailed-egypt-dissident-s-death-in-no-one-s-interest-sister-says\">AFP<\/a>, <a href=\"https:\/\/www.reuters.com\/business\/cop\/hunger-strikers-sister-flies-egypt-cop27-campaign-his-release-2022-11-07\/\">Reuters<\/a>, <a href=\"https:\/\/edition.cnn.com\/2022\/11\/06\/middleeast\/egypt-abd-el-fattah-cop27-intl\/index.html\">CNN<\/a> ,<a href=\"https:\/\/www.cnbc.com\/2022\/11\/07\/cop27-alaa-abdel-fattah-escalates-hunger-strike-by-refusing-water.html\">CNBC<\/a>, <a href=\"https:\/\/news.sky.com\/story\/alaa-abd-el-fattah-friend-and-star-of-the-crown-khalid-abdalla-calls-for-british-egyptian-activists-release-12740789\">Sky News<\/a> and the <a href=\"https:\/\/www.nytimes.com\/2022\/11\/07\/climate\/alaa-abd-el-fattah-cop27-hunger-strike-egypt.html\">New York Times<\/a> all have coverage.<\/p>\n<p><strong>The international criticism keeps on coming: <\/strong><a href=\"https:\/\/www.theguardian.com\/environment\/2022\/nov\/07\/cop27-wifi-egypt-blocks-human-rights-key-news-websites\">The Guardian<\/a> reports that some attendees aren\u2019t happy with the government\u2019s restrictive firewall, which it claims blocks a host of websites required by delegates and journalists for the summit. Meanwhile, the New York Times writes disapprovingly about <a href=\"https:\/\/www.nytimes.com\/2022\/11\/07\/world\/middleeast\/egypt-climate-cop27-natural-gas.html\">Egypt\u2019s ambitions to become a regional natural gas power<\/a> (toz, begad) and grouses about <a href=\"https:\/\/www.nytimes.com\/2022\/11\/07\/climate\/coca-cola-sponsor-cop27-climate-egypt.html\">Coca-Cola being on board as a sponsor<\/a> of the summit. The <a href=\"https:\/\/www.wsj.com\/articles\/egypt-keeps-tight-grip-on-protests-as-host-of-cop27-climate-conference-11667829129\">Wall Street Journal<\/a> is the latest to write about the tight surveillance of conference attendees and apparent unfriendliness to climate protests.<\/p>\n<p><strong>In COP27 miscellany:<\/strong><\/p>\n<ul>\n<li>The <a href=\"https:\/\/www.nytimes.com\/2022\/11\/07\/climate\/sharm-el-sheikh-cop27-egypt.html\">New York Times<\/a> <strong>spotlights Sharm El Sheikh<\/strong> as the setting for this year\u2019s summit.<\/li>\n<li><a href=\"https:\/\/www.cnbc.com\/video\/2022\/11\/07\/cnbcs-full-interview-with-cop27-president-and-egypt-foreign-minister.html\">CNBC<\/a> sat down for <strong>an interview with COP27 President Sameh Shoukry<\/strong> (<a href=\"https:\/\/www.cnbc.com\/video\/2022\/11\/07\/cnbcs-full-interview-with-cop27-president-and-egypt-foreign-minister.html\">watch, runtime: 10:20<\/a>).<\/li>\n<li><a href=\"https:\/\/www.washingtonpost.com\/climate-environment\/2022\/10\/31\/why-greta-thunberg-is-shunning-un-climate-conference-this-year\/\">The Washington Post<\/a> is the latest to run a piece on <strong>Greta Thunberg\u2019s decision to skip the summit<\/strong>.<\/li>\n<\/ul>\n\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/alaa-abdel-fattah\/\">Alaa Abdel Fattah<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/coca-cola\/\">Coca-Cola<\/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                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/sameh-shoukry\/\">Sameh Shoukry<\/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=\"577069\" class=\"issue-section \">\n<div class=\"issue-section__content\">\n<div class=\"stories\">    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"577070\" 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=\"577070\">\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\">Also on our Radar<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2022\/11\/08\/arabian-cement-to-expand-suez-factory-solar-plant\/\">\r\n                            Arabian Cement to expand Suez factory solar plant                        <\/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\/08\/arabian-cement-to-expand-suez-factory-solar-plant\/\" 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\/08\/arabian-cement-to-expand-suez-factory-solar-plant\/')\">\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\/08\/arabian-cement-to-expand-suez-factory-solar-plant\/\">\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=Arabian Cement to expand Suez factory solar plant&url=https:\/\/enterpriseam.com\/egypt\/2022\/11\/08\/arabian-cement-to-expand-suez-factory-solar-plant\/\">\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\/08\/arabian-cement-to-expand-suez-factory-solar-plant\/&title=Arabian Cement to expand Suez factory solar plant\">\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=Arabian+Cement+to+expand+Suez+factory+solar+plant+https%3A%2F%2Fenterpriseam.com%2Fegypt%2F2022%2F11%2F08%2Farabian-cement-to-expand-suez-factory-solar-plant%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\/08\/arabian-cement-to-expand-suez-factory-solar-plant\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-577070\" class=\"content-area-description single-story post-577070 post type-post status-publish format-standard hentry category-also-on-our-radar tag-also-on-our-radar tag-amarenco-solarizegypt tag-arabian-cement tag-banque-misr tag-debt tag-enterpriseam tag-logistics tag-mountain-view tag-renewables wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<p><strong>Arabian Cement signs new PPA for solar plant: <\/strong>Arabian Cement signed a purchase power agreement with <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/60548492-02b9-4618-bc39-692a8ef2b0e3\">Amarenco SolarizEgypt<\/a> for the 13.2 MW second phase of its solar plant at the its Suez facility, it said in <a href=\"https:\/\/ent.news\/2022\/11\/ACC-SolarizEgypt-new-amended-agreement-PRL_En.docx.pdf\">a statement (pdf)<\/a> Sunday. The second phase of the project will bring the solar plant\u2019s total capacity to 20.6 MW, at an investment cost of between EGP 170-190 mn, SolarizEgypt managing director Yaseen Abdelghaffar told <a href=\"https:\/\/enterprise.news\/climate\/en\/news\/story\/73809ece-7cd1-4f60-bf4d-f98530f2ac78\">Enterprise Climate<\/a>. The project should be completed and commissioned by September 2023.<\/p>\n<p><strong>Brokerages now have less power to act on behalf of their clients:<\/strong> The Financial Regulatory Authority (FRA) has abolished a rule that allows brokerage firms and other custodians to open trading accounts on the bourse and close out contracts using the power of attorney, <a href=\"http:\/\/bit.ly\/3zQISVk\">Youm7<\/a> reported, citing a document it has seen from the regulator on the decree. The move aims to bolster the protection of traders\u2019 accounts dealing with securities firms.<\/p>\n<p><strong>Other things we\u2019re keeping an eye on this morning:<\/strong><\/p>\n<ul>\n<li>Authorities have released <strong>172k tons of poultry feed<\/strong> worth USD 77 mn from ports in the past five days in efforts to address shortages caused by import restrictions. (<a href=\"https:\/\/bit.ly\/3Wvhztr\">Agriculture Ministry statement<\/a>)<\/li>\n<li><strong>Banque Misr <\/strong>extended an <strong>EGP 750 mm long-term loan <\/strong>to <strong>Mountain View <\/strong>to finance the construction of its Mountain View Parkway project. (<a href=\"https:\/\/ent.news\/2022\/11\/Bank-Misr-Mountain-View-AR-PRL.pdf\">Company statement, pdf<\/a>)<\/li>\n<li>Logistics and import\/export firm <strong><a href=\"https:\/\/thinkbig-gih.com\/\">Think Big Shipping and Logistics<\/a><\/strong> will start operations in <strong>1Q 2023<\/strong>. (<a href=\"https:\/\/www.zawya.com\/en\/projects\/industry\/think-big-to-commence-operations-in-egypt-next-year-mhc0tbdy\">Zawya<\/a>)<\/li>\n<li><strong>Zemex dual-fuel microbuses<\/strong> manufactured by the <strong>Egyptian British <\/strong><strong>Automobile Manufacturing Co<\/strong> have been pulled from the government\u2019s vehicle swap scheme after the company was unable to fulfill deliveries due government import restrictions. (<a href=\"https:\/\/www.alborsaanews.com\/2022\/11\/07\/1595433\">Al Borsa<\/a>)<\/li>\n<\/ul>\n\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/also-on-our-radar\/\">ALSO ON OUR RADAR<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/amarenco-solarizegypt\/\">Amarenco SolarizEgypt<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/arabian-cement\/\">Arabian Cement<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/banque-misr\/\">Banque Misr<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/debt\/\">debt<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/logistics\/\">logistics<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/mountain-view\/\">Mountain View<\/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                    <\/div>\n    <\/div>\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"577072\" 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\/08\/577072\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-577072\" class=\"content-area-description single-story post-577072 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>5-8 November (Saturday-Tuesday): <a href=\"https:\/\/alex.technesummit.com\/2022\">Techne Summit<\/a>, Bibliotheca Alexandrina, 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>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>10-13 November (Thursday-Sunday): <a href=\"https:\/\/www.instagram.com\/tv\/Ckdf_FGrolw\/?igshid=MDJmNzVkMjY%3D\">Asian Tour \u2014 International Series Egypt<\/a>, Madinaty, Egypt.<\/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>20 November (Sunday): House back in session.<\/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>1 December (Thursday): Contractors to <a href=\"https:\/\/www.youm7.com\/5964288\">break ground<\/a> on Egypt-Saudi interconnection project.<\/p>\n<p>3 December (Saturday): Dior Men\u2019s pre-fall collection show in Giza.<\/p>\n<p>5-8 December (Monday-Thursday): QS <a href=\"https:\/\/www.reimagine-education.com\/agenda\/\">Reimagine Education Awards and Conference<\/a>, multiple locations.<\/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>1 April (Saturday): Deadline for banks to establish sustainability unit.<\/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":577053,"menu_order":0,"template":"","categories":[],"tags":[],"class_list":["post-577052","issue","type-issue","status-publish","has-post-thumbnail","hentry","wpautop","entry"],"acf":{"mongo_id":"7ef9f0dc-7925-4f12-8f85-6ec85bab1d3a","teaser":"","photo_url":"https:\/\/ent.news\/2022\/11\/122.jpg"},"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v27.1 (Yoast SEO v27.1.1) - 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