{"id":577118,"date":"2022-11-10T04:00:51","date_gmt":"2022-11-10T04:00:51","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/?post_type=issue&#038;p=577118"},"modified":"2025-12-16T11:09:12","modified_gmt":"2025-12-16T11:09:12","slug":"cop27-egypt-to-get-usd-15-bn-in-climate-funding-egx-to-set-up-carbon-trading-platform","status":"publish","type":"issue","link":"https:\/\/enterpriseam.com\/egypt\/issues\/cop27-egypt-to-get-usd-15-bn-in-climate-funding-egx-to-set-up-carbon-trading-platform\/","title":{"rendered":"COP27: Egypt to get USD 15 bn in climate funding + EGX to set up carbon trading platform"},"content":{"rendered":"<section id=\"577120\" 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=\"577120\">\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\/10\/this-morning-its-science-day-at-cop27-the-crypto-markets-are-tanking-this-morning\/\">\r\n                            THIS MORNING: It\u2019s Science Day at COP27 + the crypto markets are tanking this morning                        <\/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\/10\/this-morning-its-science-day-at-cop27-the-crypto-markets-are-tanking-this-morning\/\" 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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Have heart: COP27 takes a mandatory one-day break on Sunday.<\/p><p><strong>It\u2019s another big day of business news: <\/strong>We\u2019ve now announced 28 GW of new renewable energy generation capacity, have lined up bns of other green investment, and finance day saw the EGX announce a new continental carbon market. We have all of this and more in this morning\u2019s news well \u2014 and you can check out additional coverage in <a href=\"https:\/\/climate.enterprise.press\/issues\/2022\/11\/10\/big-day-carbon-credits-cop27\/\">Enterprise Climate<\/a> to get more of the regional flavor.<\/p><p style=\"font-size: 18px; font-weight: bold;\">HAPPENING TODAY-<\/p><p><strong>Day five of COP27 is <\/strong><strong><a href=\"https:\/\/cop27.eg\/#\/presidency\/eventsThematicDetails\/science-day\">Science Day<\/a><\/strong>, where sessions will be focusing on advances in climate science and the impacts of climate change on ecosystems, biodiversity, and global communities in a bid to ensure actionable steps are based on credible science. <strong><a href=\"https:\/\/cop27.eg\/#\/presidency\/eventsThematicDetails\/youth-future-day\">Youth &amp; Future Generations Day<\/a><\/strong> will be happening at the same time, bringing high-level policymakers together with representatives of the <a href=\"https:\/\/unfccc.int\/topics\/education-and-youth\/youngo\/coy\">Conference of Youth<\/a> to present the \u201cglobal youth statement.\u201d<\/p><p><strong>THIS WEEKEND- <\/strong>Friday is decarbonization day, and Saturday is adaptation and agriculture day.<\/p><p><strong>MEANWHILE-<\/strong> World leaders in Sharm are continuing to press for the release of imprisoned rights activist Alaa Abdel Fattah, who said on Sunday he would stop drinking water. US President <strong>Joe Biden is <\/strong><strong><a href=\"https:\/\/www.politico.com\/news\/2022\/11\/08\/biden-to-press-human-rights-in-meeting-with-egyptian-president-00065715\">expected<\/a><\/strong><strong> to bring up Abdel Fattah\u2019s case when he arrives in Sharm tomorrow<\/strong>. The issue dominates the conversation on Egypt in the foreign press, as we note in this morning\u2019s Egypt in the News. Also below: The nation\u2019s talk show hosts are also covering the story as our ambassador to the UN pushes back on the subject and Foreign Minister Sameh Shoukry hit the airwaves last night.<\/p><p><strong>AND- World leaders continue to talk behind the scenes about the shape of an agreement <\/strong><strong>or communique at the end of the summit. <\/strong>Don\u2019t expect to hear anything until the final day of the gathering.<\/p><p><strong>PLAY WITH THIS- <\/strong><strong><a href=\"https:\/\/climatetrace.org\/\">Climate Trace<\/a><\/strong> is a new interactive tool that zeroes in on the estimated emissions of the world\u2019s top 70k-or-so polluters, including airports, plants and refineries in our part of the world.<\/p><hr class=\"grey-line\"><p><strong>IN MEMORIAM- GB Auto\u2019s Raouf Ghabbour passed away yesterday at age 69<\/strong> after a long battle with cancer.<\/p><p><strong>Raouf was one of the good guys.<\/strong> A leading figure in our community, he became CEO in 1985 of a decades-old family business, growing it and taking it public in a landmark IPO. Raouf went on to transform the business a second time, taking it outside the nation\u2019s borders and turning it into a pioneer of Egypt\u2019s now-booming non-bank financial services industry. The business\u2019 GB Capital unit has become a business that\u2019s even more compelling than the core automotive unit.<\/p><p><strong>He was smart, hilarious, and profane \u2014 and thoughtful, kind, and one hell of a strategist.<\/strong> Raouf was a guy who reveled in the intricacies of the distribution and retail industries, but who built a world-class assembly and manufacturing business and prided himself in creating meaningful jobs that made a lasting contribution to the nation\u2019s economic development.<\/p><p><strong>Raouf Ghabbour was a patriot in the best sense of the word.<\/strong> He thought critically about a country he loved and \u2014 in his own, colorful way \u2014 was never shy about making sure everyone knew where we were doing well, and where we could do better. <strong>We\u2019ll miss you, Doc. <\/strong><\/p><hr class=\"grey-line\"><p><strong>DRIVING MARKETS TODAY-<\/strong><\/p><p><a id=\"tldr-story-10\" class=\"content-anchor\"><\/a> <strong>EGX WATCH- The EGX30 jumped <\/strong><strong>4.6% yesterday<\/strong>, a day after Fitch\u2019s decision to cut Egypt\u2019s credit outlook to negative sent the benchmark index down 1.5%. Yesterday\u2019s trading session \u2014 the best since the central bank <a href=\"https:\/\/enterprise.press\/afternoons\/pm-taweem-3-0-sees-egp-at-23-03-against-the-greenback\/#tldr-story-07\">announced the EGP float<\/a> last month \u2014 came on the same day as the Qatari sovereign wealth fund deposited another USD 1 bn at the Central Bank of Egypt while it continues to negotiate acquiring stakes in several Egyptian companies. We have more on this in this morning\u2019s news well, below.<\/p><p><strong>EGP WATCH- <\/strong>The EGP was stable against the greenback yesterday, closing at 24.4344 compared to 24.4153 on Tuesday, according to central bank figures.<\/p><p><strong>US inflation figures for October are out today<\/strong> and traders will be hoping for a positive release that could keep the Federal Reserve from making its fifth-consecutive 75-bps interest rate hike next month. Despite the Fed embarking on its most aggressive tightening cycle in years, inflation has fallen back only slightly from 40-year highs in June. Analysts are forecasting prices to have cooled slightly y-o-y in October but still expect inflation to remain elevated, potentially meaning another huge rate hike in December, according to <a href=\"https:\/\/www.bloomberg.com\/news\/articles\/2022-11-09\/us-inflation-to-cool-only-slightly-keeping-big-fed-hike-in-play?sref=mmeFTDW1\">Bloomberg<\/a>.<\/p><p><strong>NEXT WEEK-<\/strong><\/p><p><strong>Five to seven agreements will be signed with companies to export renewable <\/strong><strong>energy at the SCZone<\/strong>, Planning Minister Hala El Said told Bloomberg Asharq (<a href=\"https:\/\/twitter.com\/AsharqBusiness\/status\/1590308088418283520\">watch, runtime: 1:36<\/a>). The SCZone has long been expected to sign agreements with international companies to establish green hydrogen and ammonia plants at COP27. Initial agreements worth bns of USD 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>NEXT YEAR-<\/strong><\/p><p><strong>Taqa Arabia IPO next year? Wait and see.<\/strong> An EGX debut for Qalaa Holding subsidiary Taqa Arabia <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/8aec467e-e6f0-4991-8ef6-74b466f4e8ac\">next year<\/a> will depend on market conditions, Chairman Ahmed Heikal told CNBC Arabia yesterday (<a href=\"http:\/\/bit.ly\/3fSalyZ\">watch, runtime: 7:00<\/a>). \u201cMarket conditions are unstable. We have an agreement with shareholders to offer Taqa Arabia on the EGX next year, but this would depend on global and local conditions and other factors,\u201d he said.<\/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><strong>The Enterprise Climate X Forum, our first industry-specific conference, is taking place on <\/strong><strong>Tuesday, 6 December. <\/strong>The Enterprise Climate X Forum will give insiders and newcomers alike the chance to talk about how to build a climate-centered business \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>Stay tuned very soon when we reveal the venue. <\/strong>You\u2019ll love it, we promise.<\/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><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 STORIES ABROAD-<\/strong><\/p><p><a id=\"tldr-story-09\" class=\"content-anchor\"><\/a> <strong>The big story in the business press: Crypto is melting down.<\/strong> Crypto continued to plunge for a second consecutive day after the world\u2019s world\u2019s largest crypto exchange, Binance, abandoned plans to acquire FTX yesterday, saying that the firm\u2019s issues were \u201cbeyond our control or ability to help\u201d, <a href=\"https:\/\/edition.cnn.com\/2022\/11\/09\/business\/bitcoin-crypto-prices-fall-ftx-binance-ctrp\/index.html\">CNN<\/a> reported. Binance walking away from the deal has been brutal, pushing BTC down by nearly 13% to trade below USD 16k, its lowest in two years. ETH was down by nearly 13% to USD 1.1k. The collapse of the deal is leading on <a href=\"https:\/\/www.bloomberg.com\/news\/articles\/2022-11-09\/ftx-investors-told-that-without-more-capital-bankruptcy-likely?srnd=premium-middle-east&amp;sref=mmeFTDW1\">Bloomberg<\/a>, <a href=\"https:\/\/www.cnbc.com\/2022\/11\/09\/binance-backs-out-of-ftx-rescue-leaving-the-crypto-exchange-on-the-brink-of-collapse.html\">CNBC<\/a> and the <a href=\"https:\/\/www.ft.com\/content\/ad440b22-00e2-44e9-b95d-449bb89fd504\">Financial Times<\/a>, and is getting prominent coverage on the <a href=\"https:\/\/www.wsj.com\/articles\/binance-is-said-to-be-likely-to-walk-away-from-deal-to-buy-ftx-11668020963?mod=hp_lead_pos1\">Wall Street Journal<\/a>.<\/p><p><strong><a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/ad3ba935-d8c6-41d8-987f-44ab4bd64eca\">The backstory<\/a><\/strong><strong>:<\/strong> The latest volatility was triggered when Binance founder Changpeng Zhao helped to trigger a bank run against his rival, the head of the world\u2019s third-largest crypto exchange, FTX. The outflows that followed has left the company on the verge of collapse, triggering fears of a new wave of bankruptcies in the crypto sector.<\/p><p><strong>The final results of the US midterms aren\u2019t yet in but it\u2019s clear the vote didn\u2019t go quite <\/strong><strong>how Republicans had hoped:<\/strong> Predictions for a so-called \u201cRed Wave\u201d have failed to transpire, with the GOP looking like it will only take a marginal majority in the House of Representatives and the Senate race still too close to call. Republicans so far have 49 seats to the Democrats\u2019 48, with key contests in Arizona and Nevada still to be called. The Senate race in Georgia is so close it\u2019s going to a run-off vote, potentially leaving the Senate race up in the air until next month. Get the latest on the results: <a href=\"https:\/\/apnews.com\/hub\/2022-midterm-elections\">AP<\/a> | <a href=\"https:\/\/www.nytimes.com\/live\/2022\/11\/09\/us\/election-updates-results\">NYT<\/a> | <a href=\"https:\/\/www.washingtonpost.com\/politics\/2022\/11\/09\/congress-control-democrats-republicans\/\">Washington Post<\/a>.<\/p><p><strong>Russia has suffered a major setback in its war in Ukraine<\/strong> after generals announced yesterday that they would pull its troops out of Kherson, saying they are unable to keep supply lines open. Kherson fell in the early days of the war and remains one of the only major cities captured by Russian forces. The retreat is getting ink from <a href=\"https:\/\/www.bloomberg.com\/news\/articles\/2022-11-09\/russia-s-shoigu-orders-troops-to-leave-ukrainian-city-of-kherson?srnd=premium-uk&amp;sref=mmeFTDW1\">Bloomberg<\/a>, the <a href=\"https:\/\/www.ft.com\/content\/350159c1-c88b-402e-8770-44e70c422dc1\">Financial Times<\/a>, the <a href=\"https:\/\/www.google.com\/search?q=russia+kherson&amp;rlz=1C5CHFA_enEG981EG981&amp;source=lnms&amp;tbm=nws&amp;sa=X&amp;ved=2ahUKEwjF5I3s6aH7AhV3g_0HHY-vC9AQ_AUoAXoECAEQAw&amp;biw=1512&amp;bih=736&amp;dpr=2\">New York Times<\/a>, <a href=\"https:\/\/www.theguardian.com\/world\/live\/2022\/nov\/09\/russia-ukraine-war-live-reports-of-fierce-fighting-in-mykolaiv-region-zelenskiy-says-russians-face-extraordinary-losses-in-donetsk\">the Guardian<\/a> and others.<\/p>\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/binance\/\">Binance<\/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\/cryptocurrency\/\">cryptocurrency<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/egx\/\">EGX<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/ftx\/\">FTX<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/inflation\/\">inflation<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/russia-ukraine-conflict\/\">Russia-Ukraine conflict<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/us\/\">US<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/us-midterms\/\">US midterms<\/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=\"577121\" 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=\"577121\">\r\n            \r\n            <div class=\"story__body\">\r\n\r\n                <a href=\"https:\/\/enterpriseam.com\/egypt\/2022\/11\/10\/577121\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-577121\" class=\"content-area-description single-story post-577121 post type-post status-publish format-standard hentry category-uncategorized wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<p class=\"web-image\"><a href=\"https:\/\/www.ticketsmarche.com\/tickets\/buy-tickets-2-cellos.html\"><img data-recalc-dims=\"1\" decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2022\/10\/2cellos2_1600px.jpg?ssl=1\" alt=\"enterprise\"><\/a><\/p>\n<p><strong>2CELLOS \u2014 LIVE AT SOMABAY on 18 November, 2022:<\/strong> Mark your calendars \u2014 world-renowned and wildly popular cellist duo, 2CELLOS will be performing at Somabay on 18 November, 2022. Having racked up a bn-plus audio streams, countless sold-out concerts, and mns of fans across the globe in their 10 years together as 2CELLOS, the Croatian duo of Luka \u0160uli\u0107 and HAUSER will be visiting Egypt in their long-awaited 2022 Dedicated World Tour. Book your ticket now: <a href=\"https:\/\/www.ticketsmarche.com\/tickets\/buy-tickets-2-cellos.html\">https:\/\/www.ticketsmarche.com\/tickets\/buy-tickets-2-cellos.html<\/a>. Call us 16390.<\/p>\n\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=\"577122\" 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=\"577122\">\r\n            \r\n                <div class=\"issue-story-header text-center\">\r\n                    <div class=\"index-number\">2<\/div>\r\n\r\n                    <p class=\"f-graphik\">Investment Watch<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2022\/11\/10\/we-just-lined-up-usd-15-bn-in-financing-for-nwfe-projects\/\">\r\n                            We just lined up USD 15 bn in financing for NWFE projects                        <\/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\/10\/we-just-lined-up-usd-15-bn-in-financing-for-nwfe-projects\/\" target=\"_blank\">\n                    Open in new tab                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/new-tab.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a href=\"#\" target=\"_blank\" onclick=\"event.preventDefault(); 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The program is the government\u2019s <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/196346a6-9073-4ec3-be85-d7263213092b\">flagship initiative<\/a> for getting climate finance to some of our most important green projects.<\/p>\n<p><strong>The details:<\/strong> The sizable investments will fund the implementation of one main energy project worth USD 10 bn and eight food security, agriculture and irrigation and water projects, the statement said. They include scrapping <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/bb47fa0e-86be-4684-9bfb-ee1067524e29\">5 GW of gas-fired plants<\/a> and replacing them with renewable energy, boosting small farmers\u2019 adaptation against climate change, and raising crop yields and water efficiency. The projects aim to achieve the emissions targets in Egypt\u2019s recently announced <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/8e159042-29f4-48a3-8499-809e5f8c53a8\">nationally determined contributions<\/a> (NDCs).<\/p>\n<p><strong>Where\u2019s the money coming from? Officials from our friends at EBRD and HSBC<\/strong> were present at the signing ceremony, as were the good folks at African Development Bank, Citibank and Deutsche Bank, but the statement didn\u2019t disclose the funding breakdown. Representatives of the multilateral lenders have in recent weeks announced their participation in the initiative, with the EBRD revealing it will <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/6de6e137-c444-4227-8153-71e7742f4808\">provide USD 200-300 mn<\/a> to the energy project and the AfDB saying it will give <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/196346a6-9073-4ec3-be85-d7263213092b\">more than USD 1 bn<\/a> to energy, food and water projects.<\/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\/african-development-bank\/\">African Development Bank<\/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\/development-finance\/\">development finance<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/ebrd\/\">EBRD<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/energy\/\">energy<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/investment-watch\/\">investment watch<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/nwfe\/\">NWFE<\/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=\"577124\" 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=\"577124\">\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\">Capital markets<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2022\/11\/10\/egx-announces-africa-carbon-market\/\">\r\n                            EGX announces Africa carbon market                        <\/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\/10\/egx-announces-africa-carbon-market\/\" target=\"_blank\">\n                    Open in new tab                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/new-tab.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a href=\"#\" target=\"_blank\" onclick=\"event.preventDefault(); 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The market will allow companies in Egypt and Africa working on emissions-reducing projects to sell certified carbon credits, which can then be bought by other companies wanting to offset their emissions, the bourse said in <a href=\"https:\/\/ent.news\/2022\/11\/EGX-Voluntary-Carbon-Market-statement-9.11.22.pdf\">a statement (pdf)<\/a>.<\/p>\n<p><strong>SOUND SMART- There are two primary types of carbon markets:<\/strong> compliance (which are created as part of a policy or regulatory requirement) and voluntary (where carbon credits are issued, bought, and sold on a voluntary basis).<\/p>\n<p><strong>The structure and regs are still pending:<\/strong> The EGX and Financial Regulatory Authority are still working on the framework, business model, and structure of the VCM. Among the key issues will be governance of certificate creation and registration. Look for an announcement later from Egypt\u2019s prime minister, the statement says, without specifying a timeline.<\/p>\n<p><strong>What we still don\u2019t know:<\/strong> The statement didn\u2019t tell us whether participation in the VCM would be limited to specific industries and \u2014 if so \u2014 how eligibility would be determined. Also TBD is guidance on the pricing, size or time for first issuances and how the EGX sees marketing to buyers (local, regional or global) unfolding. The EGX was unable to reply to requests for comment by dispatch time.<\/p>\n<p><strong>We do know that newly-established Libra Carbon will supply the carbon offsets:<\/strong> A subsidiary of the EGX recently <a href=\"https:\/\/enterprise.news\/climate\/en\/news\/story\/f2d24668-bf4a-49e8-8e5a-5ec23423b2aa\">signed an agreement<\/a> with the Agricultural Bank of Egypt and Enara Group\u2019s Libra Capital to establish the Egyptian company Libra Carbon, which \u201cwill supply high-quality carbon offsets to the market,\u201d head of project development Omar El Nemr told <a href=\"https:\/\/enterprise.news\/climate\/en\/news\/story\/4beeff1d-735c-4c56-81bb-121857c2cf91\">Enterprise Climate<\/a>. As of now, the supply of carbon offsets being issued in the Egyptian market is relatively low, he said. \u201cAs Libra Carbon, we\u2019ll work towards providing sufficient volume in the new market to kickstart trading operations.\u201d<\/p>\n<p><strong>BACKGROUND- Voluntary carbon markets are gathering steam across the region.<\/strong> Saudi Arabia\u2019s sovereign wealth fund, the Public Investment Fund (PIF) <a href=\"https:\/\/enterprise.news\/climate\/en\/news\/story\/96ce0e75-0c9d-4f03-9e80-cc238211358c\">last month<\/a> set up a regional voluntary carbon market company, <a href=\"https:\/\/enterprise.news\/climate\/en\/news\/story\/f3bb1924-9dc1-4866-b00f-d3f50b07744c\">which auctioned<\/a> 1.4 mn tons of carbon credits at Davos in the Desert. Singapore is <a href=\"https:\/\/www.moroccoworldnews.com\/2022\/10\/352027\/singapore-in-talks-with-morocco-to-buy-carbon-credits-meet-climate-goals\">also said<\/a> to be eyeing the purchase of carbon credits from Morocco, we noted.<\/p>\n<p><strong>ALSO YESTERDAY- US climate envoy John Kerry also announced a plan to unlock US capital for clean energy and other climate projects in emerging markets. <\/strong>Enterprise Climate has the rundown on that and more in this morning\u2019s edition <a href=\"https:\/\/enterprise.news\/climate\/en\/news\/story\/4beeff1d-735c-4c56-81bb-121857c2cf91\">here<\/a>.<\/p>\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/capital-markets\/\">capital markets<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/carbon-trading\/\">carbon trading<\/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\/egx\/\">EGX<\/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=\"577126\" 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=\"577126\">\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\">Energy<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2022\/11\/10\/make-that-28-gw\/\">\r\n                            Make that 28 GW\u2026                        <\/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\/10\/make-that-28-gw\/\" 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\/10\/make-that-28-gw\/')\">\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\/10\/make-that-28-gw\/\">\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=Make that 28 GW\u2026&url=https:\/\/enterpriseam.com\/egypt\/2022\/11\/10\/make-that-28-gw\/\">\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\/10\/make-that-28-gw\/&title=Make that 28 GW\u2026\">\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=Make+that+28+GW%E2%80%A6+https%3A%2F%2Fenterpriseam.com%2Fegypt%2F2022%2F11%2F10%2Fmake-that-28-gw%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\/10\/make-that-28-gw\/\">\r\n                    <div class=\"photo photo--above\">\r\n                        <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2022\/11\/168.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"577127\" data-permalink=\"https:\/\/enterpriseam.com\/egypt\/2022\/11\/10\/make-that-28-gw\/168-jpg-14\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2022\/11\/168.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"168.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2022\/11\/168.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2022\/11\/168.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-577126\" class=\"content-area-description single-story post-577126 post type-post status-publish format-standard has-post-thumbnail hentry category-energy tag-cop27 tag-energy tag-engie tag-enterpriseam tag-orascom-construction tag-renewables tag-toyota-tsusho wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<p><a class=\"content-anchor\" id=\"tldr-story-02\"><\/a> <strong>Another wind farm courtesy of OC: <\/strong>Orascom Construction\u2019s (OC) consortium with Engie and Toyota Tsusho has signed up to build a fresh 3-GW wind farm here, just days after <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/448f4089-1c32-47d2-b37e-2ab97142d101\">breaking ground<\/a> on their 500 MW wind project in Ras Ghareb, the EGX- and Nasdaq Dubai-listed contractor said in <a href=\"https:\/\/ent.news\/2022\/11\/OC-Consortium-Signs-MOU-to-Develop-3GW-Wind-Farm.pdf\">a statement (pdf)<\/a> yesterday. The consortium signed an MoU for the wind farm with Egyptian energy authorities on the sidelines of COP, with Egyptian Prime Minister Mostafa Madbouly attending the signing ceremony.<\/p>\n<p><strong>This means Egypt has in less than two weeks lined up 28 GW of new renewable generation capacity <\/strong>\u2014 see our previous coverage <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/0d767c54-0faa-4b60-b73f-4ddbb71c90b9\">here<\/a>.<\/p>\n<p><strong>The details:<\/strong> OC is responsible for construction and will take an unspecified equity stake in the wind farm, which will be set up on a build, own, operate (BOO) basis, the statement said. We don\u2019t yet know where this new farm could be built or what the timeline is for completion.<\/p>\n<p><strong>This would take the consortium\u2019s wind portfolio in Egypt to almost 3.8 GW:<\/strong> The companies already operate a 262.5 MW wind farm in Ras Ghareb which went live <a href=\"https:\/\/enterprise.press\/stories\/2019\/02\/24\/oc-consortium-to-complete-250-mw-wind-farm-in-ras-gharib-two-months-ahead-of-schedule\/\">in 2019<\/a>, in addition to the in-progress 500-MW facility.<\/p>\n<p><strong>We\u2019re going big on wind this COP:<\/strong> The project brings the total new wind-power generation capacity Egypt has locked <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/0d767c54-0faa-4b60-b73f-4ddbb71c90b9\">in recent days to 28 GW<\/a>. That\u2019s nearly half of the country\u2019s current installed capacity, which at the end of 2021 stood at 59.5 GW. It is also <a href=\"https:\/\/www.meed.com\/egypt-eyes-10bn-renewables-to-replace-thermal-plants\">more than 8x greater<\/a> than the country\u2019s total renewable-energy generation capacity, which was 3.4 GW at the end of last year. The new projects include two separate 10-GW wind farms that are set to be two of the world\u2019s largest: one from our friends at Infinity Power and Hassan Allam Utilities together with long-time partner Masdar; and <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/866d0721-9205-4641-bcd0-b61100d2abec\">the other<\/a> from Saudi renewable energy developer ACWA Power.<\/p>\n<p><strong>What they said: <\/strong>\u201cWe have created through the success of our two other wind farms and this new project a wind energy investment platform in Egypt,\u201d OC CEO Osama Bishai said. \u201cWe are proud to have set the stage for the development and the transformation of Egypt\u2019s renewable energy sector.\u201d<\/p>\n<p><strong>LOTS MORE GIGAWATTS COULD BE ON THEIR WAY-<\/strong><\/p>\n<p><strong>Egypt and the US will soon announce a mechanism for installing another 10 GW of <\/strong><strong>renewable power generation capacity<\/strong>, Environment Minister Yasmine Fouad <a href=\"https:\/\/bit.ly\/3EkK3it\">said<\/a> yesterday, without providing further details on the project. The project will be announced under an Egypt-US cooperation framework, she said during a meeting with John Podesta, Biden\u2019s chief clean energy advisor.<\/p>\n<p><strong>EU + Egypt working on green hydrogen cooperation:<\/strong> The EU and Egypt are currently working on setting up a \u201clong-term partnership on renewable hydrogen\u201d to support the decarbonization of the two sides\u2019 energy systems by relying on renewable hydrogen (including green hydrogen), according to <a href=\"https:\/\/ent.news\/2022\/11\/Joint-Statement-on-the-EU-Egypt-Renewable-Hydrogen-Partnership.pdf\">a joint statement (pdf)<\/a>. The partnership will see the two sides facilitating access to finance and investment along the green hydrogen value chain. It will also see them work on setting up policy and regulatory frameworks to support the nascent industry.<\/p>\n<p><strong>Al Nowais has green ammonia offtakers?<\/strong> Al Nowais subsidiary AMEA Power has reached an agreement to sell the green ammonia it will produce from the <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/99ca1d1b-be1a-45fd-99ef-358318449438\">500-MW Ain Sokhna facility<\/a> it is establishing with the Sovereign Fund of Egypt (SFE) and other government agencies, CEO Hussain Al Nowais reportedly told <a href=\"https:\/\/bit.ly\/3NQ2kqZ\">Al Mal<\/a>.<\/p>\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/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\/engie\/\">Engie<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/orascom-construction\/\">Orascom Construction<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/renewables\/\">renewables<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/toyota-tsusho\/\">Toyota Tsusho<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                    <\/div>\n    <\/div>\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"577128\" 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=\"577128\">\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\">COP WATCH<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2022\/11\/10\/the-developing-world-takes-center-stage-on-cop27-finance-day\/\">\r\n                            The developing world takes center stage on COP27 Finance Day                        <\/a>\r\n                    <\/h3>\r\n\r\n                    \r\n\t\t\t\t\t\n<div class=\"cta\">\n    <div class=\"cta__btn 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<a target=\"_blank\" href=\"https:\/\/www.linkedin.com\/shareArticle?mini=true&url=https:\/\/enterpriseam.com\/egypt\/2022\/11\/10\/the-developing-world-takes-center-stage-on-cop27-finance-day\/&title=The developing world takes center stage on COP27 Finance Day\">\n                    LinkedIn                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/linkedin-icon.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a href=\"https:\/\/api.whatsapp.com\/send?text=The+developing+world+takes+center+stage+on+COP27+Finance+Day+https%3A%2F%2Fenterpriseam.com%2Fegypt%2F2022%2F11%2F10%2Fthe-developing-world-takes-center-stage-on-cop27-finance-day%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\/10\/the-developing-world-takes-center-stage-on-cop27-finance-day\/\">\r\n                    <div class=\"photo photo--above\">\r\n                        <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2022\/11\/169.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"577129\" data-permalink=\"https:\/\/enterpriseam.com\/egypt\/2022\/11\/10\/the-developing-world-takes-center-stage-on-cop27-finance-day\/169-jpg-18\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2022\/11\/169.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"169.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2022\/11\/169.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2022\/11\/169.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-577128\" class=\"content-area-description single-story post-577128 post type-post status-publish format-standard has-post-thumbnail hentry category-cop-watch tag-africa tag-cop-watch tag-cop27 tag-debt tag-emerging-markets tag-enterpriseam tag-eu tag-green-hydrogen tag-mitigation tag-mohamed-maait tag-multilateral-development-banks 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-08\"><\/a> <strong>The theme for Finance Day at COP27 was clear: The world needs to scale up <\/strong><strong>climate financing to developing countries \u2014 and do it fast. <\/strong>Finance Minister Mohamed Maait was a persistent and passionate preacher on behalf of African and other emerging markets during many of yesterday\u2019s sessions, calling for clear green financing frameworks that can take the debt burden off emerging markets\u2019 shoulders, and for innovative financial tools to accelerate the progress of green projects.<\/p>\n<p><strong>Only 5% of global green finance goes to Africa<\/strong>, Maait said during one of the sessions \u2014 a miniscule figure for countries that are already carrying the burden of high debt in a high interest-rate and high inflation environment.<\/p>\n<p><strong>Climate change costs \u201ctns, not bns\u201d: <\/strong>Maait called on development finance institutions to step up with \u201cmore financing at a reasonable cost and on reasonable terms\u201d to climate-exposed countries, in an interview with <a href=\"https:\/\/www.bloomberg.com\/news\/articles\/2022-11-09\/affordable-debt-would-be-a-cop27-success-egypt-s-maait-says?leadSource=uverify%20wall\">Bloomberg<\/a>. A successful COP27 will drum up affordable financing for emerging markets, and will explore a ratings agency approved model that could tie sovereign debt to climate goals, he said. \u201cThe amounts required for implementation are huge,\u201d Maait said. \u201cNow, we are talking tns, not bns\u201d of USD.<\/p>\n<p><strong>Egypt\u2019s mitigation and adaptation policies will cost us some USD 250 bn<\/strong>, with USD 200 bn of that going to mitigation and USD 50 bn to adaptation, Maait said, without specifying the timeline for this target. We know that by 2050, the government <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/84b2c1a3-a226-436d-a2d0-d6edd39ab618\">aims to spend<\/a> USD 211 bn on mitigation and USD 113 bn on adaptation, through key sectors like energy, transport, agriculture, and water.<\/p>\n<p><strong>The move from bns to tns was a key point of discussion yesterday:<\/strong> Everyone acknowledged that climate finance to emerging markets should be in the tns \u2014 not the bns \u2014 in the coming years, following a <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/edition\/am\/04b93de8-325e-4317-a5a2-5404755e237e\">report<\/a> yesterday that showed that developing countries will need USD 1 tn a year in external financing by the end of the decade to combat climate change.<\/p>\n<p><strong>HOW DO WE MOVE FROM \u201cBNS TO TNS\u201d?<\/strong><\/p>\n<p><strong>Green bond issuances are important, but not feasible without guarantees: <\/strong>Maait pointed to the lack of guarantees offered by DFIs for green bonds as one of the key issues standing in the way of more green finance during one of the sessions. Some \u201c95% of MDBs\u2019 (multilateral development banks) flows are direct funding, and only 5% is directed towards guarantees,\u201d he said, adding that this is \u201cmaking our lives more difficult just because we\u2019re African countries.\u201d Hanan Morsy, economist and director of macroeconomic policy, forecasting, and research at the African Development Bank also pointed to the need for guarantees as well as credit enhancement for debtor countries to help them attract more green finance.<\/p>\n<p><strong>Carbon pricing is another crucial puzzle piece: <\/strong>A fixed carbon credit price is essential for the continent, a handful of speakers said, on the same day that the EGX announced it would set up Africa\u2019s first carbon trading market (more on that in this morning\u2019s Capital Markets section, above). IMF chief Kristalina Georgieva told <a href=\"https:\/\/www.reuters.com\/business\/cop\/exclusive-cop27-imf-chief-says-75ton-carbon-price-needed-by-2030-2022-11-07\/\">Reuters<\/a> on Monday that we need to put a minimum price tag of USD 75 a ton globally on carbon by the end of the decade for global climate goals to succeed.<\/p>\n<p><strong>Maait proposed a specialized green finance market:<\/strong> \u201cLet\u2019s work on creating a specialized market for green financing with all the tools \u2014 green bonds, green loans, green facilities \u2014 needed from MDBs to accelerate the transition,\u201d he said. Diversifying green finance was a key talking point during yesterday\u2019s sessions, with many officials calling for new tools to accelerate green finance to emerging markets \u2014 from debt swaps to debt-for-nature investments and blended finance programs.<\/p>\n<p><strong>We now have a debt coalition to help keep the conversation going:<\/strong> Maait yesterday launched the <a href=\"https:\/\/cop27.eg\/#\/presidency\/initiative\/sustainable\">Sustainable Debt Coalition Initiative<\/a>, a platform bringing together debtor and creditor countries, ratings agencies, DFIs, and MDBs in a bid to increase access to affordable green finance, reduce the cost of green debt and encourage fresh green investments among developing countries. The global coalition will work on \u201ca set of new crucial commitments to alleviate the debt burden [on emerging markets], and launch consultations at the intersection of debt, climate, and development.\u201d<\/p>\n<p><strong>A lot of the burden falls on MDBs:<\/strong> \u201cWe need MDBs to increase their capital, enhance and channel special drawing rights, and increase the level of risk-taking in their balance sheets,\u201d Morsy said. Several speakers yesterday made the point that MDBs will need to stretch themselves to allow emerging markets to help meet global sustainable development goals.<\/p>\n<p><strong>But don\u2019t underestimate the power of capital markets: \u201c<\/strong>We rely on the sovereign wealth funds and the multilateral development institutions to support us, but given the scale needed, the only debt you will get is through capital markets,\u201d Standard Chartered Middle East CEO Boutros Klink said. \u201cThis is the space that will provide green financing for the future.\u201d<\/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\/africa\/\">Africa<\/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\/debt\/\">debt<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/emerging-markets\/\">emerging markets<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/eu\/\">EU<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/green-hydrogen\/\">green hydrogen<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/mitigation\/\">mitigation<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/mohamed-maait\/\">Mohamed Maait<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/multilateral-development-banks\/\">multilateral development banks<\/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=\"577130\" 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=\"577130\">\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\">Economy<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2022\/11\/10\/qatar-deposits-usd-1-bn-with-the-cbe-as-acquisition-talks-stretch-out\/\">\r\n                            Qatar deposits USD 1 bn with the CBE as acquisition talks stretch out                        <\/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\/10\/qatar-deposits-usd-1-bn-with-the-cbe-as-acquisition-talks-stretch-out\/\" 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\/10\/qatar-deposits-usd-1-bn-with-the-cbe-as-acquisition-talks-stretch-out\/')\">\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\/10\/qatar-deposits-usd-1-bn-with-the-cbe-as-acquisition-talks-stretch-out\/\">\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=Qatar deposits USD 1 bn with the CBE as acquisition talks stretch out&url=https:\/\/enterpriseam.com\/egypt\/2022\/11\/10\/qatar-deposits-usd-1-bn-with-the-cbe-as-acquisition-talks-stretch-out\/\">\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\/10\/qatar-deposits-usd-1-bn-with-the-cbe-as-acquisition-talks-stretch-out\/&title=Qatar deposits USD 1 bn with the CBE as acquisition talks stretch out\">\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=Qatar+deposits+USD+1+bn+with+the+CBE+as+acquisition+talks+stretch+out+https%3A%2F%2Fenterpriseam.com%2Fegypt%2F2022%2F11%2F10%2Fqatar-deposits-usd-1-bn-with-the-cbe-as-acquisition-talks-stretch-out%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\/10\/qatar-deposits-usd-1-bn-with-the-cbe-as-acquisition-talks-stretch-out\/\">\r\n                    <div class=\"photo photo--above\">\r\n                        <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2022\/11\/170.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"577131\" data-permalink=\"https:\/\/enterpriseam.com\/egypt\/2022\/11\/10\/qatar-deposits-usd-1-bn-with-the-cbe-as-acquisition-talks-stretch-out\/170-jpg-22\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2022\/11\/170.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"170.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2022\/11\/170.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2022\/11\/170.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-577130\" class=\"content-area-description single-story post-577130 post type-post status-publish format-standard has-post-thumbnail hentry category-economy tag-central-bank-of-egypt tag-economy tag-enterpriseam tag-fdi tag-investment-watch tag-qatar tag-qatar-investment-authority wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<p><a class=\"content-anchor\" id=\"tldr-story-04\"><\/a> <strong>Qatar\u2019s sovereign wealth fund has deposited USD 1 bn with the Central Bank of Egypt (CBE) as it negotiates to acquire stakes in major companies<\/strong> owned by the government, <a href=\"https:\/\/www.bloomberg.com\/news\/articles\/2022-11-09\/qatar-wealth-fund-transfers-1-billion-to-egypt-s-central-bank?srnd=economics-v2&leadSource=uverify%20wall\">Bloomberg<\/a> reports, citing sources familiar with the matter.<\/p>\n<p><strong>Due diligence and negotiations are dragging on:<\/strong> The deposit comes as a stop-gap as the Qatar Investment Authority (QIA) completes due diligence on the companies and finalizes agreements, which could still take some time, the people said. Officials from the two countries have been <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/79ce7f1b-589c-431f-9ed7-47f9a283f787\">in talks for months<\/a> over potential investments from the QIA and <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/86e5c98f-26ec-4505-a0c3-3f85a5264bc8\">Qatari firms<\/a>.<\/p>\n<p><strong>Qatar has now deposited USD 4 bn at the central bank this year:<\/strong> Official figures show that Doha earlier this year provided USD 3 bn to the CBE. The country has pledged to make <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/c734fc23-c0c0-4322-bf5d-ce3c400e707a\">USD 5 bn<\/a> in central bank deposits and investments as part of a wider effort from our Gulf neighbors to prevent Egypt from sliding into an economic and financial crisis triggered by tightening financial conditions and the war in Ukraine.<\/p>\n<p><strong>Gulf money now accounts for almost all of Egypt\u2019s foreign reserves<\/strong>, as Bloomberg economist Ziad Daoud <a href=\"https:\/\/twitter.com\/ZiadMDaoud\/status\/1589904809397833730?cxt=HHwWhMC-7YOAvZAsAAAA\">pointed out yesterday<\/a>. CBE figures show that Qatar, the UAE, Saudi Arabia and Kuwait have deposited USD 28 bn at the central bank, accounting for almost 85% of Egypt\u2019s <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/57492fc5-123c-46c8-bd4f-a0e62ddb399b\">USD 33.4 bn FX stockpile<\/a>.<\/p>\n<p><strong>Where could the Qataris invest? <\/strong>The Qatari wealth fund is reportedly lining up some USD 2.5 bn worth of investment in stake-held stakes in unlisted firms, including <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/23c6426c-0b5d-4302-aeb2-74226e86a276\">advanced talks to buy 20% of Vodafone Egypt<\/a> from minority shareholder Telecom Egypt. The telecoms giant is in talks with three Arab sovereign funds to divest part of its stake in Vodafone Egypt and could come to an agreement with one of the funds by the end of the year, a source close to the matter previously confirmed to Enterprise. QIA has also been linked to a <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/3738a1bf-c4cc-428e-91f9-00bc2354984d\">potential USD 1 bn<\/a> green hydrogen and ammonia plant in the Suez Canal Economic Zone and an<a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/bd3f1189-fe0f-4c6d-914b-7c320d65f001\">investment in Damietta Port<\/a>.<\/p>\n<p><strong>Listed firms are also in the fund\u2019s sights,<\/strong> with local media <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/16d8e297-b643-4497-9e65-4ad4fef63817\">reporting<\/a> its interest in EGX-listed firms from state-owned Alexandria Containers, Eastern Company, and e-Finance, to private e-payments giant Fawry.<\/p>\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/central-bank-of-egypt\/\">Central Bank of Egypt<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/economy\/\">economy<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/fdi\/\">FDI<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/investment-watch\/\">investment watch<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/qatar\/\">Qatar<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/qatar-investment-authority\/\">Qatar Investment Authority<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                    <\/div>\n    <\/div>\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"577132\" 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=\"577132\">\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\">M&amp;A WATCH<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2022\/11\/10\/sipes-abandons-bid-for-pachin-paving-way-for-emirati-takeover\/\">\r\n                            Sipes abandons bid for Pachin, paving way for Emirati takeover                        <\/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\/10\/sipes-abandons-bid-for-pachin-paving-way-for-emirati-takeover\/\" 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\/10\/sipes-abandons-bid-for-pachin-paving-way-for-emirati-takeover\/')\">\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\/10\/sipes-abandons-bid-for-pachin-paving-way-for-emirati-takeover\/\">\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=Sipes abandons bid for Pachin, paving way for Emirati takeover&url=https:\/\/enterpriseam.com\/egypt\/2022\/11\/10\/sipes-abandons-bid-for-pachin-paving-way-for-emirati-takeover\/\">\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\/10\/sipes-abandons-bid-for-pachin-paving-way-for-emirati-takeover\/&title=Sipes abandons bid for Pachin, paving way for Emirati takeover\">\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=Sipes+abandons+bid+for+Pachin%2C+paving+way+for+Emirati+takeover+https%3A%2F%2Fenterpriseam.com%2Fegypt%2F2022%2F11%2F10%2Fsipes-abandons-bid-for-pachin-paving-way-for-emirati-takeover%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\/10\/sipes-abandons-bid-for-pachin-paving-way-for-emirati-takeover\/\">\r\n                    <div class=\"photo photo--above\">\r\n                        <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2022\/11\/172.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"577133\" data-permalink=\"https:\/\/enterpriseam.com\/egypt\/2022\/11\/10\/sipes-abandons-bid-for-pachin-paving-way-for-emirati-takeover\/172-jpg-14\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2022\/11\/172.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"172.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2022\/11\/172.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2022\/11\/172.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-577132\" class=\"content-area-description single-story post-577132 post type-post status-publish format-standard has-post-thumbnail hentry category-ma-watch tag-enterpriseam tag-ma-watch tag-national-paints tag-sipes tag-uae wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<p><a id=\"tldr-story-05\" class=\"content-anchor\"><\/a> <strong>The way is clear for the UAE\u2019s National Paints to acquire Paint and Chemical In<\/strong><strong>dustries (Pachin)<\/strong> after Universal Building Materials and Chemicals (Sipes) dropped its rival bid to take over the EGX-listed company. Pachin announced the development in <a href=\"https:\/\/ent.news\/2022\/11\/Pachin.pdf\">a disclosure to the EGX (pdf)<\/a> yesterday, leaving the Dubai-based company the only one left in the race for the state-owned paint company.<\/p>\n<p><strong>National Paints\u2019 offer has blown its competitors out of the water:<\/strong> The Emirati company last week <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/2bd16acf-0bc2-4e41-abb4-98ff04e3cb71\">submitted an initial takeover bid<\/a> that valued Pachin at almost EGP 700 mn. This is comfortably above the two rival bids from Sipes \u2014 which put Pachin at EGP 444 mn \u2014 and Saybad Industrial Investment, which <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/282c2d10-3962-4fe7-9d62-eb7036227f7b\">withdrew its offer<\/a> last month.<\/p>\n<p><strong>REMEMBER-<\/strong> The play for Pachin comes amid the government\u2019s privatization push, which should see it reduce its involvement in or exit certain industries to make way for the private sector. Pachin is currently approximately 54% owned by state-owned companies and banks.<\/p>\n<p><strong>Advisors:<\/strong> <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/909710c8-a40a-443a-88dc-4d46174fe426\">Al Ahly Pharos<\/a>is providing financial advice to Pachin while Adsero-Ragy Soliman & Partners is counsel.<\/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\/ma-watch\/\">M&amp;A Watch<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/national-paints\/\">National Paints<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/sipes\/\">Sipes<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/uae\/\">UAE<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                    <\/div>\n    <\/div>\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"577134\" 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=\"577134\">\r\n            \r\n                <div class=\"issue-story-header text-center\">\r\n                    <div class=\"index-number\">8<\/div>\r\n\r\n                    <p class=\"f-graphik\">Investment Watch<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2022\/11\/10\/schneider-electric-to-supply-electric-power-equipment-for-real-estate-developers\/\">\r\n                            Schneider Electric to supply electric power equipment for real estate developers                        <\/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\/10\/schneider-electric-to-supply-electric-power-equipment-for-real-estate-developers\/\" 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\/10\/schneider-electric-to-supply-electric-power-equipment-for-real-estate-developers\/')\">\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\/10\/schneider-electric-to-supply-electric-power-equipment-for-real-estate-developers\/\">\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=Schneider Electric to supply electric power equipment for real estate developers&url=https:\/\/enterpriseam.com\/egypt\/2022\/11\/10\/schneider-electric-to-supply-electric-power-equipment-for-real-estate-developers\/\">\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\/10\/schneider-electric-to-supply-electric-power-equipment-for-real-estate-developers\/&title=Schneider Electric to supply electric power equipment for real estate developers\">\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=Schneider+Electric+to+supply+electric+power+equipment+for+real+estate+developers+https%3A%2F%2Fenterpriseam.com%2Fegypt%2F2022%2F11%2F10%2Fschneider-electric-to-supply-electric-power-equipment-for-real-estate-developers%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\/10\/schneider-electric-to-supply-electric-power-equipment-for-real-estate-developers\/\">\r\n                    <div class=\"photo photo--above\">\r\n                        <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2022\/11\/173.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"577135\" data-permalink=\"https:\/\/enterpriseam.com\/egypt\/2022\/11\/10\/schneider-electric-to-supply-electric-power-equipment-for-real-estate-developers\/173-jpg-16\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2022\/11\/173.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"173.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2022\/11\/173.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2022\/11\/173.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-577134\" class=\"content-area-description single-story post-577134 post type-post status-publish format-standard has-post-thumbnail hentry category-investment-watch tag-beko tag-enterpriseam tag-investment-watch tag-manufacturing tag-real-estate tag-schneider-electric tag-suez-canal-economic-zone 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>Schneider Electric + real estate players to sign EGP 1 bn in <\/strong><strong>contracts:<\/strong> France\u2019s Schneider Electric is expected to sign nine contracts worth more than EGP 1 bn with leading real estate developers to supply electric power equipment, Schneider MENA President Walid Sheta told Bloomberg Asharq in an interview (<a href=\"https:\/\/www.asharqbusiness.com\/article\/43883\">watch, runtime: 9:07<\/a>). Sheta told the broadcaster that the companies would put pens to paper yesterday but we hadn\u2019t heard anything by this morning.<\/p>\n<p><strong>Schneider is considering setting up a logistics center in the Suez Canal Economic Zone (SCZone)<\/strong> within the next two years \u201cto benefit from the zone\u2019s strategic location in supplying equipment from one place to another globally,\u201d Sheta said. The company\u2019s total investments in Egypt were estimated at more than EUR 300 mn as of last year, he said.<\/p>\n<p><strong>ALSO- Turkish retailer Beko plans to break ground on its <\/strong><strong><a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/e37a9c1a-0a2a-4b03-8262-f38319d05977\">new Tenth of Ramadan factory<\/a><\/strong> <strong>on 7 December<\/strong>, <a href=\"https:\/\/bit.ly\/3EfKnyK\">cabinet said<\/a> yesterday. The company has invested USD 100 mn in the facility, which is expected to come online during 4Q 2023, the statement said.<\/p>\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/beko\/\">Beko<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/investment-watch\/\">investment watch<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/manufacturing\/\">Manufacturing<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/real-estate\/\">real estate<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/schneider-electric\/\">Schneider Electric<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/suez-canal-economic-zone\/\">Suez Canal Economic Zone<\/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=\"577136\" 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=\"577136\">\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\">DEBT WATCH<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2022\/11\/10\/consumer-finance-player-blnk-sells-egp-202-mn-in-securitized-bonds\/\">\r\n                            Consumer finance player Blnk sells EGP 202 mn in securitized bonds                        <\/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\/10\/consumer-finance-player-blnk-sells-egp-202-mn-in-securitized-bonds\/\" 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\/10\/consumer-finance-player-blnk-sells-egp-202-mn-in-securitized-bonds\/')\">\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\/10\/consumer-finance-player-blnk-sells-egp-202-mn-in-securitized-bonds\/\">\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=Consumer finance player Blnk sells EGP 202 mn in securitized bonds&url=https:\/\/enterpriseam.com\/egypt\/2022\/11\/10\/consumer-finance-player-blnk-sells-egp-202-mn-in-securitized-bonds\/\">\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\/10\/consumer-finance-player-blnk-sells-egp-202-mn-in-securitized-bonds\/&title=Consumer finance player Blnk sells EGP 202 mn in securitized bonds\">\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=Consumer+finance+player+Blnk+sells+EGP+202+mn+in+securitized+bonds+https%3A%2F%2Fenterpriseam.com%2Fegypt%2F2022%2F11%2F10%2Fconsumer-finance-player-blnk-sells-egp-202-mn-in-securitized-bonds%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\/10\/consumer-finance-player-blnk-sells-egp-202-mn-in-securitized-bonds\/\">\r\n                    <div class=\"photo photo--above\">\r\n                        <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2022\/11\/175.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"577137\" data-permalink=\"https:\/\/enterpriseam.com\/egypt\/2022\/11\/10\/consumer-finance-player-blnk-sells-egp-202-mn-in-securitized-bonds\/175-jpg-14\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2022\/11\/175.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"175.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2022\/11\/175.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2022\/11\/175.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-577136\" class=\"content-area-description single-story post-577136 post type-post status-publish format-standard has-post-thumbnail hentry category-debt-watch tag-banque-misr tag-blnk tag-ci-capital tag-debt-watch tag-enterpriseam tag-non-banking-financial-services tag-securitization wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<p><a id=\"tldr-story-07\" class=\"content-anchor\"><\/a> <strong>BNPL lender<\/strong> <strong><a href=\"https:\/\/www.blnk.ai\/\">Blnk<\/a><\/strong><strong> has closed a EGP 202 mn securitized bond issuance, <\/strong>the first in a three-year, EGP 2 bn program, financial advisor CI Capital said in <a href=\"https:\/\/ent.news\/2022\/11\/CI-Capital-blnk-AR-PRL.pdf\">a statement<\/a><a href=\"https:\/\/ent.news\/2022\/11\/CI-Capital-blnk-AR-PRL.pdf\">(pdf)<\/a> yesterday.<\/p>\n<p><strong>Advisors<\/strong>:The National Bank of Egypt and Banque du Caire were co-underwriters. Matouk Bassiouny & Hennawy acted as counsel, while Baker Tilly Wahid Abdel Ghaffar & Co served as auditors and the Egyptian Securitization Co. as issuers. Banque Misr acted as custodian.<\/p>\n<p><strong>2022 so far:<\/strong> This brings the total value of securitized bonds brought to market so far this year to almost EGP 43 bn, according to data tracked by Enterprise. That dwarfs the <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/d63bde8a-8f94-4b1b-9508-527c3143b1c3\">EGP 15.8 bn<\/a> taken to market during the whole of 2021.<\/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\/banque-misr\/\">Banque Misr<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/blnk\/\">Blnk<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/ci-capital\/\">CI Capital<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/debt-watch\/\">debt watch<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/non-banking-financial-services\/\">non-banking financial services<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/securitization\/\">securitization<\/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=\"577138\" 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=\"577138\">\r\n            \r\n            <div class=\"story__body\">\r\n\r\n                <a href=\"https:\/\/enterpriseam.com\/egypt\/2022\/11\/10\/577138\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-577138\" class=\"content-area-description single-story post-577138 post type-post status-publish format-standard hentry category-uncategorized wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<p class=\"web-image\"><a href=\"https:\/\/www.sodic.com\/\"><img data-recalc-dims=\"1\" decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2022\/7\/Sodic-25_CONNECTIONS_1600px.jpg?ssl=1\" alt=\"enterprise\"><\/a><\/p>\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"577139\" 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=\"577139\">\r\n            \r\n                <div class=\"issue-story-header text-center\">\r\n                    <div class=\"index-number\">10<\/div>\r\n\r\n                    <p class=\"f-graphik\">LAST NIGHT\u2019S TALK SHOWS<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2022\/11\/10\/cop27-finance-day-alaa-abdel-fattah-dominate-the-talk-shows\/\">\r\n                            COP27 Finance Day + Alaa Abdel Fattah dominate the talk shows                        <\/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\/10\/cop27-finance-day-alaa-abdel-fattah-dominate-the-talk-shows\/\" 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\/10\/cop27-finance-day-alaa-abdel-fattah-dominate-the-talk-shows\/')\">\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\/10\/cop27-finance-day-alaa-abdel-fattah-dominate-the-talk-shows\/\">\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=COP27 Finance Day + Alaa Abdel Fattah dominate the talk shows&url=https:\/\/enterpriseam.com\/egypt\/2022\/11\/10\/cop27-finance-day-alaa-abdel-fattah-dominate-the-talk-shows\/\">\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\/10\/cop27-finance-day-alaa-abdel-fattah-dominate-the-talk-shows\/&title=COP27 Finance Day + Alaa Abdel Fattah dominate the talk shows\">\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=COP27+Finance+Day+%2B+Alaa+Abdel+Fattah+dominate+the+talk+shows+https%3A%2F%2Fenterpriseam.com%2Fegypt%2F2022%2F11%2F10%2Fcop27-finance-day-alaa-abdel-fattah-dominate-the-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\/10\/cop27-finance-day-alaa-abdel-fattah-dominate-the-talk-shows\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-577139\" class=\"content-area-description single-story post-577139 post type-post status-publish format-standard hentry category-last-nights-talk-shows tag-alaa-abdel-fattah tag-carbon-footprint tag-cop27 tag-enterpriseam tag-finance tag-green-hydrogen tag-human-rights tag-last-nights-talk-shows wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<p><strong>Yesterday on COPTV\u2026<\/strong><\/p>\n<p><strong>Human rights got plenty of attention as talk show hosts continued to push back against <\/strong><strong>criticism<\/strong> of our rights record by Western diplomats, journalists and NGOs. The back-and-forth unfolded as imprisoned activist Alaa Abdel Fattah ended his fourth day without water.<\/p>\n<p><strong>COP27 President and Foreign Minister Sameh Shoukry<\/strong> told Ahmed Moussa (<a href=\"https:\/\/www.youtube.com\/watch?v=I6JkB_RAQdY\">watch,<\/a><a href=\"https:\/\/www.youtube.com\/watch?v=I6JkB_RAQdY\">runtime: 5:05<\/a>) that the Abdel Fattah case is an \u201cattempt to deflect attention\u201d from COP27 and climate change in general.<\/p>\n<p><strong>Someone turned the dial on Ahmed Moussa up to 11:<\/strong> The firebrand talk show host accused UN human rights chief Volker Turk of \u201cdefending terrorists and criminals\u201d and called the UK \u201cthe capital of terrorism\u201d (<a href=\"https:\/\/www.youtube.com\/watch?v=gzd1X1AiQbQ\">w<\/a><a href=\"https:\/\/www.youtube.com\/watch?v=gzd1X1AiQbQ\">atch, runtime: 4:44<\/a>). Turk on Tuesday issued a public statement <a href=\"https:\/\/news.un.org\/en\/story\/2022\/11\/1130327\">urging the government<\/a> to release Abdel Fattah. Meanwhile, Al Hayah Al Youm (<a href=\"https:\/\/www.youtube.com\/watch?v=5GmlEq3L0NU\">watch, runtime: 5:50<\/a>) and Masaa DMC (<a href=\"https:\/\/www.youtube.com\/watch?v=RBPjrh3I_o0\">watch, runtime: 5:00<\/a>) had coverage of our UN ambassador, who yesterday replied to Turk in a <a href=\"https:\/\/ent.news\/2022\/11\/IMG_0354.jpg\">public letter<\/a> sent to Geneva.<\/p>\n<p><strong>Rep. Amr Darwish is still trying to drum up support after getting <\/strong><strong><a href=\"https:\/\/www.nytimes.com\/2022\/11\/08\/climate\/cop27-egypt-activist-alaa-abd-el-fattah.html\">booted out of a press<\/a><\/strong><strong><a href=\"https:\/\/www.nytimes.com\/2022\/11\/08\/climate\/cop27-egypt-activist-alaa-abd-el-fattah.html\">conference on Tuesday<\/a><\/strong> for shouting at Abdel Fattah\u2019s sister, Sanaa Seif, while she was talking to journalists about her brother\u2019s case. Al Hayah Al Youm (<a href=\"https:\/\/www.youtube.com\/watch?v=R-mzyWH9BTU\">watch, runtime: 2:12<\/a>) and Masaa DMC (<a href=\"https:\/\/www.youtube.com\/watch?v=EZO_5n4rncs\">watch, runtime: 5:11<\/a>) had the story.<\/p>\n<p><strong>MEANWHILE- Al Hayah Al Youm had a full run-down on events on day four of the <\/strong><strong>global climate summit, Finance Day<\/strong> (<a href=\"https:\/\/www.youtube.com\/watch?v=y7unkrMVnTQ\">watch, runtime: 3:47<\/a>), covering Prime Minister Moustafa Madbouly\u2019s statements on securing finance to fight climate change (<a href=\"https:\/\/www.youtube.com\/watch?v=y7unkrMVnTQ\">watch, runtime: 2:23<\/a>), the EGX\u2019s announcement of a pan-African voluntary carbon market (<a href=\"https:\/\/www.youtube.com\/watch?v=wQn0FvyqI5c\">watch, runtime: 0:30<\/a>), and the joint statement from Egypt and the EU on establishing a new green hydrogen partnership (<a href=\"https:\/\/www.youtube.com\/watch?v=BbgX4h4zr-o\">watch, runtime: 5:27<\/a>). We have more on all of this in this morning\u2019s news well, above.<\/p>\n<p><strong>A panel discussion by the World Youth Forum on how entrepreneurship can help <\/strong><strong>achieve Egypt\u2019s sustainable development goals <\/strong>got coverage from Masaa DMC (<a href=\"https:\/\/www.youtube.com\/watch?v=F4JQSMvOODg\">watch, runtime: 0:57<\/a>). Masaa DMC also has a clip of COP27 President and FM Sameh Shoukry enthusiastically talking to children about the importance of combating climate change (<a href=\"https:\/\/www.youtube.com\/watch?v=Q8Kx7WnyfLU\">watch, runtime: 1:53<\/a>).<\/p>\n<p><strong>MOVERS + SHAKERS-<\/strong><\/p>\n<ul>\n<li>Surging interest rates + rising inflation + decelerating economic growth + crunching living expenses for the public = a bad mix, our friend <strong>Qalaa Chairman Ahmed Heikal<\/strong> told Yahduth Fi Masr (<a href=\"https:\/\/www.youtube.com\/watch?v=a3TTz-G3Uzo\">watch, runtime: 3:30<\/a>)<\/li>\n<li>Increased temperatures on the back of climate change could result in the spread of several diseases, <strong>Health Minister Khaled Abdel Ghaffar<\/strong> told Moussa (<a href=\"https:\/\/www.youtube.com\/watch?v=EMkcw6PM-wg\">watch, runtime: 3:42<\/a>)<\/li>\n<\/ul>\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/alaa-abdel-fattah\/\">Alaa Abdel Fattah<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/carbon-footprint\/\">carbon footprint<\/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\/finance\/\">Finance<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/green-hydrogen\/\">green hydrogen<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/human-rights\/\">human rights<\/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                    <\/div>\n    <\/div>\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"577140\" class=\"issue-section \">\n<div class=\"issue-section__content\">\n<div class=\"stories\">      \r\n<section id=\"advertiser\" class=\"enterprise-adv issue-section\">\r\n    <div class=\"issue-section__content\" style=\"flex-direction: column;\">\r\n  \r\n                <h4 class=\"wp-block-heading has-text-align-center has-normal-font-size\">\r\n                <span class=\"has-primary-color stk-highlight\">This publication is proudly sponsored by<\/span><\/h4>\r\n                \r\n\r\n                \r\n                <div class=\"wp-block-stackable-carousel alignwide stk-block-carousel stk--is-slide stk--infinite-scroll stk--arrows-justify-space-between stk--arrows-align-center stk-block stk-a38cfb2 sponsor-slider-container mb-0\" data-slides-to-show=\"3\" data-block-id=\"a38cfb2\"><style>.stk-a38cfb2 {--slides-to-show:3 !important;}.stk-a38cfb2 .stk-block-carousel__button{background:#00000099 !important;fill:#FFFFFF !important;border-radius:4px !important;}.stk-a38cfb2 .stk-block-carousel__button svg.ugb-custom-icon :is(g, path, rect, polygon, ellipse){fill:#FFFFFF !important;}<\/style>\r\n                <div class=\"stk-block-carousel__content-wrapper\">\r\n                <div class=\"stk-row stk-inner-blocks stk-block-content stk-block-carousel__slider-wrapper stk-content-align stk-a38cfb2-column alignwide\">\r\n                <div class=\"stk-block-carousel__slider\" role=\"list\" data-autoplay=\"4000\" data-label-slide-of=\"Slide %%d of %%d\">\r\n            <div class=\"wp-block-stackable-column stk-block-column stk-column stk-block stk-46c5f99\" data-v=\"4\" data-block-id=\"46c5f99\"><div class=\"stk-column-wrapper stk-block-column__content stk-container stk-46c5f99-container stk--no-background stk--no-padding\"><div class=\"stk-block-content stk-inner-blocks stk-46c5f99-inner-blocks\">\r\n            <div class=\"issue-sponsor-slide\">\r\n                <img data-recalc-dims=\"1\" decoding=\"async\" draggable=\"false\" src=\"https:\/\/i0.wp.com\/ent.news\/internal\/240922.png?ssl=1\">\r\n                <div class=\"overlay\"><\/div>\r\n                <div class=\"content\">\r\n                    <a draggable=\"false\" href=\"https:\/\/www.hsbc.com.eg\/\" target=\"_blank\" class=\"logo\" rel=\"noopener\">\r\n                        <img decoding=\"async\" draggable=\"false\" src=\"https:\/\/ent.news\/internal\/27489.svg\" alt=\"\">\r\n                    <\/a>\r\n                    <span>Opening up a world of opportunity<\/span>\r\n                <\/div>\r\n            <\/div>\r\n            <\/div><\/div><\/div>\r\n        \r\n            <div class=\"wp-block-stackable-column stk-block-column stk-column stk-block stk-lefp6g2\" data-v=\"4\" data-block-id=\"lefp6g2\"><div class=\"stk-column-wrapper stk-block-column__content stk-container stk-lefp6g2-container stk--no-background stk--no-padding\"><div class=\"stk-block-content stk-inner-blocks stk-lefp6g2-inner-blocks\">\r\n            <div class=\"issue-sponsor-slide\">\r\n                <img data-recalc-dims=\"1\" decoding=\"async\" draggable=\"false\" src=\"https:\/\/i0.wp.com\/ent.news\/internal\/240923.png?ssl=1\">\r\n                <div class=\"overlay\"><\/div>\r\n                <div class=\"content\">\r\n                    <a draggable=\"false\" href=\"https:\/\/efghldg.com\/en\" target=\"_blank\" class=\"logo\" rel=\"noopener\">\r\n                        <img decoding=\"async\" draggable=\"false\" src=\"https:\/\/ent.news\/internal\/27488.svg\" alt=\"\">\r\n                    <\/a>\r\n                    <span>Realize More<\/span>\r\n                <\/div>\r\n            <\/div>\r\n            <\/div><\/div><\/div>\r\n        \r\n            <div class=\"wp-block-stackable-column stk-block-column stk-column stk-block stk-24v6qpl\" data-v=\"4\" data-block-id=\"24v6qpl\"><div class=\"stk-column-wrapper stk-block-column__content stk-container stk-24v6qpl-container stk--no-background stk--no-padding\"><div class=\"stk-block-content stk-inner-blocks stk-24v6qpl-inner-blocks\">\r\n            <div class=\"issue-sponsor-slide\">\r\n                <img data-recalc-dims=\"1\" decoding=\"async\" draggable=\"false\" src=\"https:\/\/i0.wp.com\/ent.news\/internal\/240924.png?ssl=1\">\r\n                <div class=\"overlay\"><\/div>\r\n                <div 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src=\"https:\/\/i0.wp.com\/ent.news\/internal\/240925.png?ssl=1\">\r\n                <div class=\"overlay\"><\/div>\r\n                <div class=\"content\">\r\n                    <a draggable=\"false\" href=\"https:\/\/weareinfinity.com\/\" target=\"_blank\" class=\"logo\" rel=\"noopener\">\r\n                        <img decoding=\"async\" draggable=\"false\" src=\"https:\/\/i0.wp.com\/ent.news\/internal\/27483.png?fit=300%2C300&#038;ssl=1\" alt=\"\">\r\n                    <\/a>\r\n                    <span>Powering with nature<\/span>\r\n                <\/div>\r\n            <\/div>\r\n            <\/div><\/div><\/div>\r\n        \r\n            <div class=\"wp-block-stackable-column stk-block-column stk-column stk-block stk-iohd9np\" data-v=\"4\" data-block-id=\"iohd9np\"><div class=\"stk-column-wrapper stk-block-column__content stk-container stk-iohd9np-container stk--no-background stk--no-padding\"><div class=\"stk-block-content stk-inner-blocks stk-iohd9np-inner-blocks\">\r\n            <div class=\"issue-sponsor-slide\">\r\n                <img data-recalc-dims=\"1\" decoding=\"async\" draggable=\"false\" src=\"https:\/\/i0.wp.com\/ent.news\/internal\/240926.jpg?ssl=1\">\r\n                <div class=\"overlay\"><\/div>\r\n                <div class=\"content\">\r\n                    <a draggable=\"false\" href=\"https:\/\/www.qalaaholdings.com\/\" target=\"_blank\" class=\"logo\" rel=\"noopener\">\r\n                        <img decoding=\"async\" draggable=\"false\" src=\"https:\/\/ent.news\/internal\/110691.svg\" alt=\"\">\r\n                    <\/a>\r\n                    <span>Driving growth<\/span>\r\n                <\/div>\r\n            <\/div>\r\n            <\/div><\/div><\/div>\r\n        <\/div><div class=\"stk-block-carousel__buttons\"><button class=\"stk-block-carousel__button stk-block-carousel__button__prev\" aria-label=\"Previous slide\"><svg aria-hidden=\"true\" focusable=\"false\" data-prefix=\"fas\" 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33.941 0L285.475 239.03c9.373 9.372 9.373 24.568.001 33.941z\"><\/path><\/svg><\/button><\/div><\/div><div class=\"stk-block-carousel__dots\" role=\"list\" data-label=\"Slide %%d\"><\/div><\/div><\/div>\r\n        <\/div>\r\n<\/section> \r\n\r\n\n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"577141\" 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=\"577141\">\r\n            \r\n                <div class=\"issue-story-header text-center\">\r\n                    <div class=\"index-number\">11<\/div>\r\n\r\n                    <p class=\"f-graphik\">EGYPT IN THE NEWS<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2022\/11\/10\/human-rights-is-still-in-the-spotlight-at-cop27\/\">\r\n                            Human rights is still in the spotlight 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\/10\/human-rights-is-still-in-the-spotlight-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(); navigator.clipboard.writeText('https:\/\/enterpriseam.com\/egypt\/2022\/11\/10\/human-rights-is-still-in-the-spotlight-at-cop27\/')\">\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\/10\/human-rights-is-still-in-the-spotlight-at-cop27\/\">\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=Human rights is still in the spotlight at COP27&url=https:\/\/enterpriseam.com\/egypt\/2022\/11\/10\/human-rights-is-still-in-the-spotlight-at-cop27\/\">\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\/10\/human-rights-is-still-in-the-spotlight-at-cop27\/&title=Human rights is still in the spotlight at COP27\">\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=Human+rights+is+still+in+the+spotlight+at+COP27+https%3A%2F%2Fenterpriseam.com%2Fegypt%2F2022%2F11%2F10%2Fhuman-rights-is-still-in-the-spotlight-at-cop27%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\/10\/human-rights-is-still-in-the-spotlight-at-cop27\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-577141\" class=\"content-area-description single-story post-577141 post type-post status-publish format-standard hentry category-egypt-in-the-news tag-alaa-abdel-fattah tag-ancient-egypt tag-climate tag-cop27 tag-diplomacy tag-enterpriseam tag-human-rights tag-new-administrative-capital tag-water wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<p><strong>Day four of jailed activist Alaa Abdel Fattah\u2019s hunger- and water-strike continues to make <\/strong><strong>human rights one of the big issues in Sharm El Sheikh<\/strong><strong>:<\/strong> The leaders of France, Germany and the UK have all called on authorities to release Abdel Fattah this week and <a href=\"https:\/\/www.politico.com\/news\/2022\/11\/08\/biden-to-press-human-rights-in-meeting-with-egyptian-president-00065715\">Politico<\/a> reports that US President Joe Biden will bring up the issue when he arrives here tomorrow.<\/p>\n<p><strong>Abdel Fattah\u2019s hunger strike is the singular issue in the conversation on Egypt<\/strong> (as opposed to climate change) in the international press. See: <a href=\"https:\/\/www.france24.com\/en\/live-news\/20221109-egypt-dissident-abdel-fattah-s-family-demands-proof-of-life\">AFP<\/a> | <a href=\"https:\/\/www.bbc.com\/news\/world-middle-east-63567581\">BBC<\/a> | <a href=\"https:\/\/www.washingtonpost.com\/world\/2022\/11\/09\/cop27-climate-alaa-prison-strike-sissi\/\">Washington Post<\/a> | <a href=\"https:\/\/foreignpolicy.com\/2022\/11\/09\/egypt-human-rights-cop27-activist-hunger-strike\/\">Foreign Policy<\/a> | <a href=\"https:\/\/www.dw.com\/en\/egypt-alaa-abdel-fattah-close-to-dying-says-sister\/a-63681507\">Deutsche Welle<\/a> | <a href=\"https:\/\/thehill.com\/policy\/energy-environment\/3725442-thunberg-calls-on-egypt-to-release-political-prisoners-amid-climate-summit\/\">The Hill<\/a> | <a href=\"https:\/\/www.economist.com\/the-economist-explains\/2022\/11\/09\/who-is-alaa-abd-el-fattah\">The Economist<\/a> | <a href=\"https:\/\/www.vice.com\/en\/article\/jgpnqp\/egypt-cop27-greenwash\">Vice<\/a> | <a href=\"https:\/\/www.theguardian.com\/world\/2022\/nov\/09\/britain-does-not-know-if-alaa-abd-el-fattah-still-alive-minister-admits\">Guardian<\/a><\/p>\n<p><strong>Also making headlines: <\/strong><\/p>\n<ul>\n<li><strong>The cost of the green river:<\/strong> Egypt is one of the most water-stressed countries in the world but is planning to pump bns of liters of water into the desert to create a \u201cgreen river\u201d in the heart of the new administrative capital. (<a href=\"https:\/\/edition.cnn.com\/2022\/11\/08\/middleeast\/egypt-water-scarcity-climate-cop27-intl-cmd\/index.html\">CNN<\/a>)<\/li>\n<li><strong>A rare find: Non-COP news. <\/strong>Archaeologists discovered a hidden tunnel underneath a tomb near Alexandria that they say could lead to the long-lost tomb of Queen Cleopatra. (<a href=\"https:\/\/www.newsweek.com\/cleopatra-tomb-tunnel-possibly-discovered-egypt-1757829\">Newsweek<\/a>)<\/li>\n<\/ul>\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/alaa-abdel-fattah\/\">Alaa Abdel Fattah<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/ancient-egypt\/\">Ancient Egypt<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/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\/diplomacy\/\">DIPLOMACY<\/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\/new-administrative-capital\/\">new administrative capital<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/water\/\">water<\/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=\"577142\" 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=\"577142\">\r\n            \r\n                <div class=\"issue-story-header text-center\">\r\n                    <div class=\"index-number\">12<\/div>\r\n\r\n                    <p class=\"f-graphik\">Also on our Radar<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2022\/11\/10\/ybg-acquitted-of-corruption-charges\/\">\r\n                            YBG acquitted of corruption charges                        <\/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\/10\/ybg-acquitted-of-corruption-charges\/\" 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\/10\/ybg-acquitted-of-corruption-charges\/')\">\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\/10\/ybg-acquitted-of-corruption-charges\/\">\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=YBG acquitted of corruption charges&url=https:\/\/enterpriseam.com\/egypt\/2022\/11\/10\/ybg-acquitted-of-corruption-charges\/\">\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\/10\/ybg-acquitted-of-corruption-charges\/&title=YBG acquitted of corruption charges\">\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=YBG+acquitted+of+corruption+charges+https%3A%2F%2Fenterpriseam.com%2Fegypt%2F2022%2F11%2F10%2Fybg-acquitted-of-corruption-charges%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\/10\/ybg-acquitted-of-corruption-charges\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-577142\" class=\"content-area-description single-story post-577142 post type-post status-publish format-standard hentry category-also-on-our-radar tag-adib-egypt tag-also-on-our-radar tag-cit tag-corruption tag-e-finance tag-enterpriseam tag-ibm tag-microfinance tag-orange-egypt tag-vodafone-egypt wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<aside>\t\t\t<div\r\n\t\t\t\t\t\t\t\tclass=\"newspack-popup-container newspack-popup hidden  newspack-inline-popup  newspack-lightbox-no-border   \"\r\n\t\t\t\trole=\"button\"\r\n\t\t\t\ttabindex=\"0\"\r\n\t\t\t\tstyle=\"background-color:#FFFFFF;color:#000\"\r\n\t\t\t\tid=\"id_408146\"\r\n\t\t\t\tdata-segments=\"\"\r\n\t\t\t\tdata-frequency=\"0,0,0,month\"\r\n\t\t\t>\r\n\t\t\t\t\n<div class=\"wp-block-group has-light-gray-background-color has-background\" style=\"padding-top:0px;padding-right:0px;padding-bottom:0px;padding-left:0px\"><div class=\"wp-block-group__inner-container is-layout-constrained wp-container-core-group-is-layout-ef38739e wp-block-group-is-layout-constrained\">\n<div class=\"wp-block-group is-content-justification-center is-nowrap is-layout-flex wp-container-core-group-is-layout-94bc23d7 wp-block-group-is-layout-flex\"><div class=\"wp-block-image\">\n<figure class=\"aligncenter size-full\"><img decoding=\"async\" src=\"https:\/\/ent.news\/internal\/408144.svg\" alt=\"\" class=\"wp-image-408144\"\/><\/figure>\n<\/div><\/div>\n<\/div><\/div>\n\t\t\t<\/div>\r\n\t\t<\/aside>\n<p><strong>A Cairo Criminal Court acquitted Mubarak-era finance minister Youssef Boutros Ghali of <\/strong><strong>(frankly unjust) <\/strong><strong>corruption charges<\/strong> in a retrial, according to the <a href=\"http:\/\/bit.ly\/3hukF0E\">local press<\/a>. This is the most recent acquittal in the case, dubbed the \u201clicense plates\u201d case by the domestic press. Former prime minister Ahmed Nazif and interior minister Habib El Adly were both convicted in related cases; their convictions were later reversed in retrials.<\/p><p><strong>Dr. Youssef is one of the good guys. <\/strong>It would be good to see him back home and able to contribute once again to public life.<\/p><p><strong>Other things we\u2019re keeping an eye on this morning:<\/strong><\/p><ul>\n<li><strong>e-Finance\u2019s<\/strong> new <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/e4d1d582-5f76-49a4-b09e-806568954a57\">cloud computing service<\/a> will run on <strong>IBM servers<\/strong> under an agreement announced yesterday. (<a href=\"https:\/\/ent.news\/2022\/11\/e-finance-ENG-09-11-2022.pdf\">Company statement, pdf)<\/a><\/li>\n<li><strong>Shell <\/strong>will <strong>start drilling for gas<\/strong> in some of its <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/a15d1e88-c557-4195-98d8-6bb32f29cafb\">new concessions<\/a> in<strong> 1Q 2023<\/strong>. (<a href=\"https:\/\/www.facebook.com\/EgyptMOP\/posts\/pfbid0229LRZv3T6DcL7nMgzCb2G95XX72f1oYiyN3rfsTGg69Pffrs4Nrk5oYGYhL12XQQl\">Oil Ministry statement<\/a>)<\/li>\n<li>Egyptian auto marketplace <strong>Contact Cars<\/strong> will develop an <strong>automated pricing <\/strong><strong>tool <\/strong>for<strong> Toyota Egypt\u2019s<\/strong> pre-owned vehicle arm<strong> Automark<\/strong>. (<a href=\"https:\/\/ent.news\/2022\/11\/Toyota-Egypt-taps-contactcars.com-for-a-used-cars-project-EN-PRL.pdf\">Company statement, pdf<\/a>)<\/li>\n<li><strong>ADIB Egypt<\/strong> has set up a new <strong>microfinance firm<\/strong> that will begin providing <strong>services <\/strong>starting January. (<a href=\"http:\/\/bit.ly\/3AoRMK3\">Al Mal<\/a>)<\/li>\n<\/ul>\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/adib-egypt\/\">ADIB Egypt<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/also-on-our-radar\/\">ALSO ON OUR RADAR<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/cit\/\">CIT<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/corruption\/\">Corruption<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/e-finance\/\">e-finance<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/ibm\/\">IBM<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/microfinance\/\">microfinance<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/orange-egypt\/\">Orange Egypt<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/vodafone-egypt\/\">Vodafone Egypt<\/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=\"577144\" 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=\"577144\">\r\n            \r\n                <div class=\"issue-story-header text-center\">\r\n                    <div class=\"index-number\">13<\/div>\r\n\r\n                    <p class=\"f-graphik\">Diplomacy<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2022\/11\/10\/more-high-level-talks-on-the-sidelines-of-cop27\/\">\r\n                            More high-level talks on the sidelines of 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\/10\/more-high-level-talks-on-the-sidelines-of-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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(<a href=\"https:\/\/www.facebook.com\/Egy.Pres.Spokesman\/posts\/pfbid023nZrosp2UFoc2A9QZQb9uXDGAhKZtSjYchsmfjiZwucFvb73q7iD2ScssZFzMYFNl\">Statement<\/a>)<\/li>\n<\/ul>\n<ul>\n<li><strong>Madbouly was invited by Jordanian Prime Minister Bisher Al Khasawn<\/strong><strong>eh<\/strong> to head a bilateral Egyptian delegation to Amman in 1H 2023 (<a href=\"https:\/\/www.facebook.com\/EgyptianCabinet\/posts\/pfbid0zqsW3sXBaw33geMEyyWibMr7AYBN1fcWdvNMadbFBTk32wKKFYhDAqrngo6MH53Kl\">Statement<\/a>);<\/li>\n<li><strong>Madbouly reaffirmed Egypt\u2019s support for the Palestinian cause<\/strong> with Palestinian Authority Prime Minister Mohammad Shtayyeh (<a href=\"https:\/\/www.facebook.com\/EgyptianCabinet\/posts\/pfbid0E6bu5fzwp4fgEV6k4dPVbtpshsommPFG86kEbMAwTp6eeBnndQCeb8bckn1UPyPTl\">Statement<\/a>);<\/li>\n<li><strong>Madbouly thanked Vatican Prime Minister Cardinal Pietro Parolin<\/strong> for the hospital Pope Francis\u2019 <a href=\"https:\/\/humanfraternity-eg.com\/\/index_en.php?lang=en\">Human Fraternity Foundation<\/a> is building in the new administrative capital (<a href=\"https:\/\/www.facebook.com\/EgyptianCabinet\/posts\/pfbid02AqT2bRu8Sipbd5b37aeitnUTRSZKuuD6MiUkqzcKALXvq11tb2w2wLKaPXdx5RpNl\">Statement<\/a>).<\/li>\n<\/ul>\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/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\/diplomacy\/\">DIPLOMACY<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/moustafa-madbouly\/\">Moustafa Madbouly<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                    <\/div>\n    <\/div>\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"577145\" 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\/10\/577145\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-577145\" class=\"content-area-description single-story post-577145 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>6-18 November (Sunday-Friday): Egypt will host <a href=\"https:\/\/cop27.eg\/\">COP27<\/a> in 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>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>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\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":577119,"menu_order":0,"template":"","categories":[],"tags":[],"class_list":["post-577118","issue","type-issue","status-publish","has-post-thumbnail","hentry","wpautop","entry"],"acf":{"mongo_id":"314007d5-dbbc-4a5f-8a87-6c1c97184db7","teaser":"","photo_url":"https:\/\/ent.news\/2022\/11\/162.jpg"},"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v27.1 (Yoast SEO v27.1.1) - 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