{"id":577198,"date":"2022-11-14T04:00:24","date_gmt":"2022-11-14T04:00:24","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/?post_type=issue&#038;p=577198"},"modified":"2025-12-16T11:11:08","modified_gmt":"2025-12-16T11:11:08","slug":"our-enterprise-climate-x-forum-will-take-place-at-the-grand-egyptian-museum","status":"publish","type":"issue","link":"https:\/\/enterpriseam.com\/egypt\/issues\/our-enterprise-climate-x-forum-will-take-place-at-the-grand-egyptian-museum\/","title":{"rendered":"Our Enterprise Climate X Forum will take place at the Grand Egyptian Museum"},"content":{"rendered":"<section id=\"577200\" 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=\"577200\">\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\/14\/this-morning-its-crunch-week-at-cop27-climate-x-is-happening-at-the-gem\/\">\r\n                            THIS MORNING: It\u2019s crunch week at COP27 + Climate X is happening at the GEM                        <\/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\/14\/this-morning-its-crunch-week-at-cop27-climate-x-is-happening-at-the-gem\/\" 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\/14\/this-morning-its-crunch-week-at-cop27-climate-x-is-happening-at-the-gem\/')\">\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\/14\/this-morning-its-crunch-week-at-cop27-climate-x-is-happening-at-the-gem\/\">\n                    Facebook                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/facebook-icon2.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a target=\"_blank\" href=\"https:\/\/x.com\/intent\/post?text=THIS MORNING: It\u2019s crunch week at COP27 + Climate X is happening at the GEM&url=https:\/\/enterpriseam.com\/egypt\/2022\/11\/14\/this-morning-its-crunch-week-at-cop27-climate-x-is-happening-at-the-gem\/\">\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\/14\/this-morning-its-crunch-week-at-cop27-climate-x-is-happening-at-the-gem\/&title=THIS MORNING: It\u2019s crunch week at COP27 + Climate X is happening at the GEM\">\n                    LinkedIn                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/linkedin-icon.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a href=\"https:\/\/api.whatsapp.com\/send?text=THIS+MORNING%3A+It%E2%80%99s+crunch+week+at+COP27+%2B+Climate+X+is+happening+at+the+GEM+https%3A%2F%2Fenterpriseam.com%2Fegypt%2F2022%2F11%2F14%2Fthis-morning-its-crunch-week-at-cop27-climate-x-is-happening-at-the-gem%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\/14\/this-morning-its-crunch-week-at-cop27-climate-x-is-happening-at-the-gem\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-577200\" class=\"content-area-description single-story post-577200 post type-post status-publish format-standard hentry category-what-were-tracking-today tag-al-mansour-auto tag-automotive tag-climate tag-climate-x tag-cop27 tag-enterpriseam tag-evs tag-grand-egyptian-museum tag-state-privatization-program tag-what-were-tracking-today wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<aside>\t\t\t<div\r\n\t\t\t\t\t\t\t\tclass=\"newspack-popup-container newspack-popup hidden  newspack-inline-popup  newspack-lightbox-no-border   \"\r\n\t\t\t\trole=\"button\"\r\n\t\t\t\ttabindex=\"0\"\r\n\t\t\t\tstyle=\"background-color:#FFFFFF;color:#000\"\r\n\t\t\t\tid=\"id_27645\"\r\n\t\t\t\tdata-segments=\"\"\r\n\t\t\t\tdata-frequency=\"0,0,0,month\"\r\n\t\t\t>\r\n\t\t\t\t\n<div class=\"wp-block-group has-light-gray-background-color has-background\" style=\"padding-top:0px;padding-right:0px;padding-bottom:0px;padding-left:0px\"><div class=\"wp-block-group__inner-container is-layout-constrained wp-container-core-group-is-layout-ef38739e wp-block-group-is-layout-constrained\">\n<div class=\"wp-block-group is-content-justification-center is-nowrap is-layout-flex wp-container-core-group-is-layout-94bc23d7 wp-block-group-is-layout-flex\">\n<p class=\"f-graphik\" style=\"font-size:14px\">Together with<\/p>\n\n\n<div class=\"wp-block-image\">\n<figure class=\"aligncenter size-full\"><img decoding=\"async\" src=\"https:\/\/s3.amazonaws.com\/resources.inktankir.com\/internal\/27482.svg\" alt=\"\" class=\"wp-image-27482\"\/><\/figure>\n<\/div><\/div>\n<\/div><\/div>\n\t\t\t<\/div>\r\n\t\t<\/aside>\n<p><strong>Good morning, friends. Before we get started on a very busy news day<\/strong>, we have an announcement to make:<\/p><p class=\"web-image\"><a href=\"https:\/\/climatexforum.enterprise.press\/\"><img data-recalc-dims=\"1\" decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2022\/11\/Venue-reveal-1600-Eng.jpg?ssl=1\" alt=\"enterprise\"><\/a><\/p><p><a id=\"tldr-story-01\" class=\"content-anchor\"><\/a><strong> Our <\/strong><strong><a href=\"https:\/\/climatexforum.enterprise.press\/index.html\">Enterprise Climate X Forum<\/a><\/strong><strong> is happening at the brand new Grand <\/strong><strong>Egyptian Museum: <\/strong>We are delighted to let you all know that the Enterprise Climate X Forum is taking place at the Grand Egyptian Museum on Tuesday, 6 December 2022. We can think no better place to discuss the world\u2019s most important industry than in a world-class museum that stands as a testament to our nation\u2019s ability to persevere (and innovate) for seven millennia.<\/p><p><strong>What\u2019s the Enterprise Climate X Forum? <\/strong>It\u2019s our first industry-specific conference, where CEOs, top execs, investors, bankers and development finance folks have 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. <a href=\"https:\/\/climatexforum.enterprise.press\/index.html\">You can learn more on our conference website here.<\/a><\/p><p><strong>Some of the biggest names in business and finance are on board \u2014 are you? <\/strong>If you\u2019re a C-suite exec, business owner, climate professional, DFI staff, investor or banker, please email us at <a href=\"mailto:climatexrsvp@enterprisemea.com\">climatexrsvp@enterprisemea.com<\/a> to signal your interest, letting us know your name, title and where you work.<\/p><p><strong>Who\u2019s on board?<\/strong> The Enterprise Climate X Forum is taking place with the generous support of our friends, including:<\/p><ul>\n<li>Banking partners: <strong>HSBC<\/strong> | <strong>Mashreq<\/strong> | <strong>Attijariwafa Bank<\/strong><\/li>\n<li>Telecom partner: <strong>Etisalat by e&amp;<\/strong><\/li>\n<li>Event partners: <strong>Hassan Allam Utilities<\/strong> | <strong>Infinity<\/strong><\/li>\n<\/ul><hr class=\"grey-line\"><p><a id=\"tldr-story-08\" class=\"content-anchor\"><\/a> <strong>IT\u2019S A GREAT MORNING FOR: Market nerds, as the EGX30 is finally in the <\/strong><strong>black for the year. <\/strong>The benchmark index is in positive territory year-to-date for the first time since mid-January after gaining 1.9% during trading yesterday. That means the EGX30 is now 0.3% in the green for the year and is at its highest level since 13 January.<\/p><p><strong>Staging a comeback?<\/strong> Buoyed by optimism about an IMF assistance package, the EGX30 has soared more than 38% since early July after tumbling to its lowest level since November 2016.<\/p><p><strong>The EGX has gained further momentum in the past few weeks<\/strong>, rising 8.2% since Egypt and the IMF reached a <a href=\"https:\/\/enterprise.press\/afternoons\/pm-taweem-3-0-sees-egp-at-23-03-against-the-greenback\/\">staff-level agreement<\/a> for a USD 3 bn loan program and the central bank moved to a <a href=\"https:\/\/enterprise.press\/afternoons\/pm-taweem-3-0-sees-egp-at-23-03-against-the-greenback\/\">flexible exchange rate<\/a>.<\/p><hr class=\"grey-line\"><p><a id=\"tldr-story-05\" class=\"content-anchor\"><\/a> <strong>WATCH THIS SPACE #1- <\/strong>The Madbouly government\u2019s <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/0894c99e-e18e-473e-a869-64812c50988b\">state ownership policy<\/a><a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/0894c99e-e18e-473e-a869-64812c50988b\">document<\/a> could go into effect at the end of this year, Vice Minister of Finance Ahmed Kouchouk told the Senate yesterday. The government has finalized the document, which would be ratified at the end of the year to go into effect, the minister said.<\/p><p><strong>REMEMBER<\/strong>- The document is supposed to be a roadmap to more than doubling the private sector\u2019s role in the economy and attract bns of USD in fresh investment. The document will lay out the industries which the government plans to open up to private companies and the ringfenced strategic sectors that will continue to see heavy state involvement.<\/p><p><strong>When are we going to see it?<\/strong> We <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/9cad4496-55ac-4ba8-841f-4aff2a56e5ee\">were expecting<\/a> to get a first glimpse of the final document during last month\u2019s economic conference, but instead were told that the document was \u201cnearly\u201d finished and that we\u2019d need to wait. Little has been said about the document in the three weeks since the conference ended.<\/p><p><strong>Maybe during the National Dialogue?<\/strong> The document is expected to be discussed before the National Dialogue, which could kick off any time after COP27. The document will be discussed by a dedicated subcommittee which will have the power to amend it.<\/p><hr class=\"grey-line\"><p><a id=\"tldr-story-07\" class=\"content-anchor\"><\/a> <strong>WATCH THIS SPACE #2-<\/strong> <strong>Al Mansour Automotive hopes to start assembling <\/strong><strong>electric <\/strong><strong>vehicles in Egypt within the coming year<\/strong> and is close to finishing feasibility studies, our friend Ankush Arora, CEO of Al Mansour Automotive, told <a href=\"https:\/\/www.asharqbusiness.com\/article\/44047\">Bloomberg Asharq<\/a> yesterday. This comes a few days after Mohamed Mansour <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/eb6d96b3-fc0f-466f-8f9b-6d172f77d1fe\">told Bloomberg<\/a> that he intends to produce 15k EVs over the next three years.<\/p><p><strong>But they\u2019re asking for government support: <\/strong>An Egyptian EV industry \u201ccannot succeed or [be] adopted at an appropriate pace commercially without participation and support by the government,\u201d Arora said, expressing hopes that the incentives included in the long-awaited <a href=\"https:\/\/enterprise.press\/industries\/%f0%9f%8f%ad-inside-industry\/\">automotive strategy<\/a> will be announced in the next 3-4 weeks.<\/p><p><strong>It\u2019s also preparing to import electric Cadillacs: <\/strong>Al Mansour Auto will partner with GM to <a href=\"https:\/\/enterprise.press\/am-edition\/#tldr-story-03\">import electric Cadillacs<\/a> to Egypt by the end of 2023. The two companies want to have five models available on the Egyptian market by 2025.<\/p><p><strong>IN SHARM TODAY-<\/strong><\/p><p><strong>It\u2019s crunch time at COP as the second and final week of negotiations gets underway.<\/strong> With the headline-grabbing speeches of the first week out of the way, it\u2019s week two when state delegates really get down to brass tacks and push towards draft agreements.<\/p><p><strong>But will Friday, 18 November be a day of joy or sorry?<\/strong> At the end of week one, delegates aren\u2019t painting an optimistic picture. A <a href=\"https:\/\/www.reuters.com\/business\/cop\/cop27-climate-talks-slow-progress-stokes-worry-over-final-deal-2022-11-13\/\">Reuters<\/a> report suggests an atmosphere of frustration as negotiators fail to make progress on key aspects of the talks.<\/p><p><strong>As expected, trust between developed and developing nations is low amid an impasse <\/strong><strong>on loss and damage:<\/strong> Developing countries are continuing to push for an agreement on new financing mechanisms but these are being blocked by rich nations, negotiators tell the newswire. \u201cWe haven't seen huge solidarity between the developed and developing countries,\u201d one policy analyst said. Instead there have been \u201cdisappointing commitments and action this year, which has dented trust.\u201d<\/p><p><strong>It\u2019s <\/strong><strong><a href=\"https:\/\/cop27.eg\/#\/presidency\/eventsThematicDetails\/water-day\">Water Day<\/a><\/strong><strong> at COP27:<\/strong> Sessions will focus on sustainable water resource management, water scarcity, drought, cross boundary cooperation, and the improvement of early warning systems. We\u2019re expecting the official launch of the <a href=\"https:\/\/enterprise.news\/climate\/en\/news\/story\/db607b02-9fe9-4aa1-8cba-baa10e98c0ad\">AWARE (Action for Water Adaptation and Resilience) initiative<\/a>, in partnership with the World Meteorological Organization.<\/p><p><strong>BACK IN CAIRO- <\/strong><\/p><p><strong>On the legislative agenda:<\/strong> The Senate will discuss and give a final vote to amendments to the 1982 law related to the performance of the country\u2019s diplomatic and consular corps.<\/p><p><strong>It\u2019s day 2 of the Cairo International Film Festival (<\/strong><strong><a href=\"https:\/\/www.ciff.org.eg\/\">CIFF<\/a><\/strong><strong>) today. <\/strong>The CIFF is set to run until Tuesday 22 November.<\/p><p><strong>HAPPENING THIS WEEK-<\/strong><\/p><p><strong>Five to seven agreements will be signed with companies to export renewable energy via <\/strong><strong>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>The G20 summit starts tomorrow: <\/strong>G20 leaders are heading to Indonesia for the 2022 summit which takes place in Bali on Tuesday and Wednesday. US president Joe Biden is already in the country for high-stakes talks with Chinese Premier Xi Jinping. The two leaders will meet face-to-face for the first time today and are expected to discuss a wide range of issues including tensions over Taiwan, the war in Ukraine, climate, and the global food and energy crises, <a href=\"https:\/\/www.reuters.com\/world\/asia-pacific\/us-president-biden-arrives-bali-g20-summit-2022-11-13\/\">Reuters<\/a> writes.<\/p><p><strong>THE BIG STORIES ABROAD-<\/strong><\/p><p><strong>The results from the US midterms continues to be the big story on US front pages<\/strong>, with many speculating about the likelihood of Biden 2024 as well as the future direction of the Republican Party after it failed to capture the Senate: <a href=\"https:\/\/www.reuters.com\/world\/us\/democrats-keep-control-us-senate-crush-republican-red-wave-hopes-2022-11-13\/\">Reuters<\/a> | <a href=\"https:\/\/www.nytimes.com\/2022\/11\/13\/us\/politics\/senate-democrats-republicans.html\">NYT<\/a> | <a href=\"https:\/\/www.washingtonpost.com\/politics\/2022\/11\/13\/trump-republicans-rivals-2024\/\">Washington Post<\/a> | <a href=\"https:\/\/www.wsj.com\/livecoverage\/midterms-elections-results-house-congress-senate\">WSJ<\/a>.<\/p><p><strong>A dark day for Turkey<\/strong>: At least six people were killed and 81 were injured yesterday in a bombing in central Istanbul. The country\u2019s interior minister has said that a person has been arrested in connection with the explosion, which the Turkish government is treating as a terror attack. The Egyptian Foreign Ministry condemned the attack in <a href=\"https:\/\/www.facebook.com\/EgyptianCabinet\/posts\/pfbid0LH2r4EsskwtmCcWMzAw8KmzVZitYKXru9LTZT34WiW6zVMueai47UKPaiyQkyctnl\">a statement<\/a> yesterday evening. (<a href=\"https:\/\/www.reuters.com\/world\/middle-east\/central-istanbul-blast-leaves-multiple-wounded-media-video-2022-11-13\/\">Reuters<\/a> | <a href=\"https:\/\/www.france24.com\/en\/asia-pacific\/20221114-suspect-arrested-over-istanbul-bombing-says-turkey-s-interior-minister\">AFP<\/a> |<a href=\"https:\/\/www.bbc.com\/news\/world-europe-63615076\">BBC<\/a> | <a href=\"https:\/\/www.bloomberg.com\/news\/articles\/2022-11-13\/istanbul-explosion-injured-at-least-11-ntv-reports\">Bloomberg<\/a> | <a href=\"https:\/\/edition.cnn.com\/2022\/11\/13\/europe\/istanbul-turkey-explosion-intl\/index.html\">CNN<\/a> | <a href=\"https:\/\/www.theguardian.com\/world\/2022\/nov\/13\/istanbul-explosion-turkey-dead-injured-official-says\">The Guardian<\/a>)<\/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>PSA #1- The LRT has (again) extended its hours<\/strong>: The new light rail transit system (LRT) has extended its operating hours to 7:30am until 12am starting today, operator RATP Dev <a href=\"https:\/\/www.facebook.com\/MobilityCairo\/posts\/pfbid0NLwnNmaR7FEVAaHGATmD3YVccD4oiZzvZDijHs5qbeGwdz3okcLzH8gnDoLc2nzwl\">said<\/a> yesterday.<\/p><p><strong>SOUND SMART- The all-electric LRT links Cairo to the new administrative Capital and will <\/strong><strong>ultimately go all the way to 10th of Ramadan City.<\/strong> The line starts at the Adly Mansour transport hub near Cairo International Airport, which serves as an exchange for the LRT, Cairo Metro line three, the Cairo-Suez railway line, and two bus lines. The first branch linking Adly Mansour to Badr City by way of El Obour and El Shorouk has been open since July. Two stations on the branch to 10 Ramadan and four on the NAC branch are also open.<\/p><p><strong>PSA #2- If you\u2019re self-employed, you have to register in the Tax Authority\u2019s e-invoice <\/strong><strong>system<\/strong><strong> by 15 December.<\/strong> This includes self-employed doctors, engineers, lawyers, and artists, the Egyptian Tax Authority said in a<a href=\"https:\/\/www.facebook.com\/tax.egypt\/posts\/pfbid02xZQ6g3mVt8xBY53zbkaNSQLfuDKW7Ee28TZcyKJtrM8w2ATZS6X56S74UQLqdcJBl?__cft__%5B0%5D=AZXVBg27tCmAV6V8UTaKct5D9vUtObmHwGpKIRGlr_-bKwdpAvQwJFc_KhX1j74zzW6NZAZZbwstHUM0k2vJpG9RgPAcIjCSkTtkqaNOHbKxXLu4gbAO4F9m9Y5M_P1Ko2yzMmlzqI8BYcK02CDLCl-MfitRXBcoAva7fQicniNi_SrH6qVkgG3IqTi7so9I8w8&amp;__tn__=%2CO%2CP-R\">statement<\/a>. Only e-invoices will be considered for VAT deduction or refunds as of 1 April, 2023.<\/p><p><strong>What e-invoicing system?<\/strong> In late 2020, the Tax Authority launched a pilot program for B2B e-invoicing with 134 companies, before expanding the system to all large taxpayers in July 2021. All B2B and B2C invoices across the country should be fully automated by December. We have a primer on the system, its purpose, the timeline of implementation along with a list of phase one companies <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/99a6ca73-945a-43a8-9bb3-70e01e484a6c\">here<\/a>.<\/p><p><strong>PSA #3- Good news for Upper Egypt startups:<\/strong> Applications for a Uplift4UpperEgypt \u2014 startup program run by Orascom\u2019s <a href=\"https:\/\/geminiafrica.com\/\">Gemini Enterprises Africa<\/a>, in partnership with the Sawiris Foundation, aimed at businesses in Upper Egypt, will open on 17 November, according to <a href=\"https:\/\/bit.ly\/3Ghr7lV\">Al Mal<\/a>.<\/p><p><strong>CORRECTION<\/strong><strong>- <\/strong>We incorrectly wrote in yesterday\u2019s EnterprisePM that Andy Ogletree won USD 1.5 mn after claiming victory in the International Series Egypt golf tournament in Madinaty. The USD 1.5 mn purse is actually divided between all of the participants, with the first-placed player taking 18% of the winnings (equivalent to USD 270k). We have since updated the story <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/1a7f0f63-eba0-4c19-82e0-bab84b7c3308\">on our website<\/a>.<\/p><p><strong>DIPLOMACY WATCH-<\/strong><\/p><p><strong>The US and Russia will hold nuclear talks in Cairo in a few weeks \u2014 but don\u2019t expect a <\/strong><strong>breakthrough<\/strong>, <a href=\"https:\/\/www.reuters.com\/world\/russia-us-meet-new-start-nuclear-arms-treaty-cairo-ria-cites-russian-official-2022-11-11\/\">Reuters<\/a> reports. Washington and Moscow will discuss resuming mutual nuclear inspections in late November or early December in Cairo, Russian Deputy Foreign Minister Sergei Ryabkov told Russian news agencies, though he downplayed expectations of reaching an agreement. Russia halted Inspections under the treaty in August, blaming travel curbs imposed by the US and Western allies on the back of the war in Ukraine.<\/p><p><strong>Xi is visiting Saudi Arabia next month:<\/strong> Chinese President Xi Jinping will make a rare trip overseas next month with a visit to Saudi Arabia for talks with Crown Prince Mohamed bin Salman. Saudi Minister of State for Foreign Affairs Adel Al Jubeir told <a href=\"https:\/\/www.reuters.com\/business\/cop\/trade-security-agenda-xi-visit-saudi-arabia-saudi-minister-2022-11-12\/\">Reuters<\/a> that talks will focus on boosting trade and regional security.<\/p><p><strong>It\u2019s hard to understate the significance of this trip:<\/strong> Washington won\u2019t be pleased about the trip which comes amid growing cooperation between China and US allies in the Gulf. Xi\u2019s decision to visit Riyadh comes as the US-Saudi relationship hits its lowest point in years, and as Washington takes a more assertive stance against China.<\/p><p><strong><a href=\"https:\/\/enterprise.press\/am-edition\/#calendar\">Check out our full calendar on the web<\/a><\/strong> for a comprehensive listing of upcoming news events, national holidays and news triggers.<\/p>\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/al-mansour-auto\/\">Al Mansour Auto<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/automotive\/\">automotive<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <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\/climate-x\/\">Climate X<\/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\/evs\/\">EVs<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/grand-egyptian-museum\/\">Grand Egyptian Museum<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/state-privatization-program\/\">state privatization program<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/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=\"577201\" 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=\"577201\">\r\n            \r\n            <div class=\"story__body\">\r\n\r\n                <a href=\"https:\/\/enterpriseam.com\/egypt\/2022\/11\/14\/577201\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-577201\" class=\"content-area-description single-story post-577201 post type-post status-publish format-standard hentry category-uncategorized wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<p class=\"web-image\"><a href=\"https:\/\/www.ticketsmarche.com\/tickets\/buy-tickets-2-cellos.html\"><img data-recalc-dims=\"1\" decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2022\/10\/2cellos2_1600px.jpg?ssl=1\" alt=\"enterprise\"><\/a><\/p>\n<p><strong>2CELLOS \u2014 LIVE AT SOMABAY on 18 November, 2022:<\/strong> Mark your calendars \u2014 world-renowned and wildly popular cellist duo, 2CELLOS will be performing at Somabay on 18 November, 2022. Having racked up a bn-plus audio streams, countless sold-out concerts, and mns of fans across the globe in their 10 years together as 2CELLOS, the Croatian duo of Luka \u0160uli\u0107 and HAUSER will be visiting Egypt in their long-awaited 2022 Dedicated World Tour. Book your ticket now: <a href=\"https:\/\/www.ticketsmarche.com\/tickets\/buy-tickets-2-cellos.html\">https:\/\/www.ticketsmarche.com\/tickets\/buy-tickets-2-cellos.html<\/a>. Call us 16390.<\/p>\n\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"577202\" 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=\"577202\">\r\n            \r\n                <div class=\"issue-story-header text-center\">\r\n                    <div class=\"index-number\">2<\/div>\r\n\r\n                    <p class=\"f-graphik\">Energy<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2022\/11\/14\/masdar-infinity-hassan-allam-consortium-could-ink-agreements-on-10-gw-wind-farm-by-years-end\/\">\r\n                            Masdar-Infinity-Hassan Allam consortium could ink agreements on 10-GW wind farm by year\u2019s end                        <\/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\/14\/masdar-infinity-hassan-allam-consortium-could-ink-agreements-on-10-gw-wind-farm-by-years-end\/\" 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\/14\/masdar-infinity-hassan-allam-consortium-could-ink-agreements-on-10-gw-wind-farm-by-years-end\/')\">\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\/14\/masdar-infinity-hassan-allam-consortium-could-ink-agreements-on-10-gw-wind-farm-by-years-end\/\">\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=Masdar-Infinity-Hassan Allam consortium could ink agreements on 10-GW wind farm by year\u2019s end&url=https:\/\/enterpriseam.com\/egypt\/2022\/11\/14\/masdar-infinity-hassan-allam-consortium-could-ink-agreements-on-10-gw-wind-farm-by-years-end\/\">\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\/14\/masdar-infinity-hassan-allam-consortium-could-ink-agreements-on-10-gw-wind-farm-by-years-end\/&title=Masdar-Infinity-Hassan Allam consortium could ink agreements on 10-GW wind farm by year\u2019s end\">\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=Masdar-Infinity-Hassan+Allam+consortium+could+ink+agreements+on+10-GW+wind+farm+by+year%E2%80%99s+end+https%3A%2F%2Fenterpriseam.com%2Fegypt%2F2022%2F11%2F14%2Fmasdar-infinity-hassan-allam-consortium-could-ink-agreements-on-10-gw-wind-farm-by-years-end%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\/14\/masdar-infinity-hassan-allam-consortium-could-ink-agreements-on-10-gw-wind-farm-by-years-end\/\">\r\n                    <div class=\"photo photo--above\">\r\n                        <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2022\/11\/214.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"577203\" data-permalink=\"https:\/\/enterpriseam.com\/egypt\/2022\/11\/14\/masdar-infinity-hassan-allam-consortium-could-ink-agreements-on-10-gw-wind-farm-by-years-end\/214-jpg-13\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2022\/11\/214.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"214.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2022\/11\/214.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2022\/11\/214.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-577202\" class=\"content-area-description single-story post-577202 post type-post status-publish format-standard has-post-thumbnail hentry category-energy tag-cop27 tag-energy tag-enterpriseam tag-infinity-power tag-renewables 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>Like the wind: <\/strong>Final contracts for the <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/0d767c54-0faa-4b60-b73f-4ddbb71c90b9\">10 GW Masdar-Infinity-Hassan Allam wind<\/a><a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/0d767c54-0faa-4b60-b73f-4ddbb71c90b9\">farm<\/a> announced last week at COP27 could be signed before the end of the year, Hesham El Gamal, general manager at Infinity, told <a href=\"https:\/\/www.asharqbusiness.com\/article\/44030\">Bloomberg Asharq<\/a>.<\/p>\n<p><strong>The timeline:<\/strong> The consortium aims to complete studies and reach financial close within 18 months of signing the contracts, El Gamal said. Construction will then begin on the first phase of the project, which will produce some 1.5-2 GW of wind power. The entire project could be completed within three years of breaking ground on Phase 1, El Gamal said.<\/p>\n<p><strong>The location: <\/strong>The wind farm will be located in southern Egypt, either in Luxor or Aswan, El Gamal said. The land will be provided by government authorities under a usufruct framework, he added.<\/p>\n<p><strong>Refresher: <\/strong>Our friends at <a href=\"https:\/\/www.weareiph.com\/\">Infinity Power<\/a> and <a href=\"https:\/\/www.hassanallam.com\/utilities\/group-profile\">Hassan Allam Utilities<\/a> together with long-time partner <a href=\"https:\/\/masdar.ae\/\">Masdar<\/a> signed an agreement last week to build a 10-GW onshore wind farm in Egypt, which is set to be one of the largest in the world. The plant \u2014 which will cost at least USD 10-12 bn \u2014 will have the capacity to produce nearly 48k GWh of clean energy a year.<\/p>\n<p><strong>Infinity Power is also about to sign an agreement after COP27 for a separate 320 MW wind project<\/strong> in the Gabal El Zeit farm south of Ras Ghareb, El Gamal said. The company will invest at least USD 320 mn in the project, he added.<\/p>\n<p><strong>Egypt has lined up a 28-GW pipeline of wind projects in recent days:<\/strong> Saudi renewable energy developer ACWA Power has <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/0d767c54-0faa-4b60-b73f-4ddbb71c90b9\">signed up to build a 10-GW facility<\/a>, Orascom Construction, Engie and Toyota Tsusho will <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/ce29a6e4-8653-4954-b817-c38ac8a69aa8\">build a 3-GW farm<\/a>, and Norwegian renewable energy developer Scatec is looking at installing up to 5 GW of fresh wind capacity.<\/p>\n<p><strong>That\u2019s a lot of wind:<\/strong> The combined 28 GW amounts to nearly half of the country\u2019s current installed energy generation capacity and is more than 8x the country\u2019s total renewables generation capacity.<\/p>\n<p><strong>ALL THREE IN ON GREEN H2?<\/strong><\/p>\n<p><strong>WATCH THIS SPACE- Masdar, <\/strong><strong>Hassan Allam<\/strong><strong> Utilities and Infinity will sign a <\/strong><strong>MoU with <\/strong><strong>the government for a USD 2 bn, 2-GW green hydrogen <\/strong>project at COP27 this Wednesday, Hesham El Gamal, general manager at Infinity, told <a href=\"https:\/\/www.asharqbusiness.com\/article\/44030\">Bloomberg Asharq<\/a> yesterday.<\/p>\n<p><strong>BACKGROUND- <\/strong>Masdar and HAU announced plans to establish green hydrogen plants in Egypt <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/37c6713c-597a-4ba6-adb3-ab0228f7231c\">back in April<\/a>. Hassan Allam Holding CEO Amr Allam <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/6af83467-4f2a-4379-a7c8-5ae62622cdb3\">said last month<\/a> that the two companies will invest USD 10 bn in the project, which is expected to produce up to 480k tons of green hydrogen a year.<\/p>\n\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/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\/infinity-power\/\">Infinity Power<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/renewables\/\">renewables<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                    <\/div>\n    <\/div>\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"577204\" 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=\"577204\">\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\">Development finance<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2022\/11\/14\/eib-could-commit-usd-1-5-bn-in-new-financing-to-egypt\/\">\r\n                            EIB could commit USD 1.5 bn in new financing to Egypt                        <\/a>\r\n                    <\/h3>\r\n\r\n                    \r\n\t\t\t\t\t\n<div class=\"cta\">\n    <div class=\"cta__btn share-dropdown-cta dropdown-toggle-btn\" style=\"position:relative\">\n        <img decoding=\"async\" src=\"https:\/\/ent.news\/internal\/408834.svg\" alt=\"\">\n        Share Story\n        <!-- Dropdown Menu -->\n        <ul class=\"share-menu\">\n            <li class=\"list-inline-item\">\n                <a href=\"https:\/\/enterpriseam.com\/egypt\/2022\/11\/14\/eib-could-commit-usd-1-5-bn-in-new-financing-to-egypt\/\" target=\"_blank\">\n                    Open in new tab                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/new-tab.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a href=\"#\" target=\"_blank\" onclick=\"event.preventDefault(); navigator.clipboard.writeText('https:\/\/enterpriseam.com\/egypt\/2022\/11\/14\/eib-could-commit-usd-1-5-bn-in-new-financing-to-egypt\/')\">\n                    Copy Link                <\/a>\n\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a target=\"_blank\" href=\"https:\/\/www.facebook.com\/sharer.php?u=https:\/\/enterpriseam.com\/egypt\/2022\/11\/14\/eib-could-commit-usd-1-5-bn-in-new-financing-to-egypt\/\">\n                    Facebook                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/facebook-icon2.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a target=\"_blank\" href=\"https:\/\/x.com\/intent\/post?text=EIB could commit USD 1.5 bn in new financing to Egypt&url=https:\/\/enterpriseam.com\/egypt\/2022\/11\/14\/eib-could-commit-usd-1-5-bn-in-new-financing-to-egypt\/\">\n                    X                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/twitter-icon.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a target=\"_blank\" href=\"https:\/\/www.linkedin.com\/shareArticle?mini=true&url=https:\/\/enterpriseam.com\/egypt\/2022\/11\/14\/eib-could-commit-usd-1-5-bn-in-new-financing-to-egypt\/&title=EIB could commit USD 1.5 bn in new financing to Egypt\">\n                    LinkedIn                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/linkedin-icon.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a href=\"https:\/\/api.whatsapp.com\/send?text=EIB+could+commit+USD+1.5+bn+in+new+financing+to+Egypt+https%3A%2F%2Fenterpriseam.com%2Fegypt%2F2022%2F11%2F14%2Feib-could-commit-usd-1-5-bn-in-new-financing-to-egypt%2F\">\n                    WhatsApp                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/whatsapp-icon.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n        <\/ul>\n    <\/div>\n        <\/div>\r\n                    \r\n                <\/div>\r\n\r\n            \r\n            <div class=\"story__body\">\r\n\r\n                <a href=\"https:\/\/enterpriseam.com\/egypt\/2022\/11\/14\/eib-could-commit-usd-1-5-bn-in-new-financing-to-egypt\/\">\r\n                    <div class=\"photo photo--above\">\r\n                        <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2022\/11\/215.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"577205\" data-permalink=\"https:\/\/enterpriseam.com\/egypt\/2022\/11\/14\/eib-could-commit-usd-1-5-bn-in-new-financing-to-egypt\/215-jpg-13\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2022\/11\/215.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"215.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2022\/11\/215.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2022\/11\/215.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-577204\" class=\"content-area-description single-story post-577204 post type-post status-publish format-standard has-post-thumbnail hentry category-development-finance tag-african-development-bank tag-banque-misr tag-development-finance tag-enterpriseam tag-eu tag-european-investment-bank tag-infrastructure tag-nwfe tag-smes tag-water wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<p><a class=\"content-anchor\" id=\"tldr-story-03\"><\/a> <strong>EIB could invest in water projects in Egypt:<\/strong> The European Investment Bank (EIB) plans to commit USD 1.5 bn in new financing to Egypt, primarily focusing on water treatment, the bank\u2019s VP, Gelsomina Vigliotti, told <a href=\"https:\/\/www.asharqbusiness.com\/article\/44046\">Bloomberg Asharq<\/a> on the sidelines of the COP27 summit. Vigliotti didn\u2019t provide further information about which projects the bank could target or when the funding might be disbursed.<\/p>\n<p><strong>EIB interest in water projects became clear earlier this year<\/strong> when a bank consultant <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/84b2c1a3-a226-436d-a2d0-d6edd39ab618\">told state news agency MENA<\/a> that it could invest in desalination plants in Egypt.<\/p>\n<p><strong>That\u2019s not all: <\/strong>Vigliotti said that the bank will work with the government to reduce emissions in the transport and energy sectors, the two biggest contributors to Egypt\u2019s emissions. She didn\u2019t disclose further details.<\/p>\n<p><strong>It\u2019s not clear whether these projects are part of the NWFE program:<\/strong> Several development finance institutions including the European Bank for Reconstruction and Development have committed money to Nexus on Water, Food and Energy (<a href=\"https:\/\/www.sis.gov.eg\/Story\/169930\/Egypt-aspires-to-present-success-story-in-COP27?lang=en-us\">NWFE<\/a>) program, an initiative launched by the Egyptian government in July to channel finance into green projects. Agreements signed last week are expected to <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/e40eaa44-2bb4-49a3-9336-af3df3a4d395\">unlock USD 15 bn<\/a> from private investors and DFIs to help Egypt decarbonize its power infrastructure, and strengthen its food and water security.<\/p>\n<p><strong>SME FINANCE COURTESY OF AFDB-<\/strong><\/p>\n<p><strong>The African Development Bank (AfDB) will lend USD 160 mn to state-owned Banque Misr<\/strong> to finance SMEs in priority industries, the multilateral lender <a href=\"https:\/\/www.afdb.org\/en\/news-and-events\/press-releases\/egypt-african-development-bank-extends-160-million-loan-banque-misr-strengthen-private-sector-participation-egypts-economy-56328\">said<\/a> Thursday. The loan will comprise a USD 130 mn line of credit from the bank and an additional USD 30 mn from the China-backed <a href=\"https:\/\/www.afdb.org\/en\/news-and-events\/the-african-development-bank-and-africa-growing-together-fund-to-provide-us-200-million-in-joint-financing-to-support-the-nigeria-electrification-project-18769\">Africa Growing Together Fund<\/a>. It will have a 10-year tenor, the bank said.<\/p>\n<p><strong>Who\u2019s getting the money:<\/strong> The loan will \u201coffer Banque Misr long-term liquidity so it can extend loans to small and medium-sized enterprises and corporates operating in industry, information and communications technology and agriculture\/agribusiness,\u201d AfDB said.<\/p>\n\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/african-development-bank\/\">African Development Bank<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/banque-misr\/\">Banque Misr<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/development-finance\/\">development finance<\/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\/european-investment-bank\/\">European Investment Bank<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/infrastructure\/\">infrastructure<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/nwfe\/\">NWFE<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/smes\/\">SMEs<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <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=\"577206\" 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=\"577206\">\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\">COP WATCH<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2022\/11\/14\/ebrd-to-help-out-some-of-our-most-promising-local-green-startups\/\">\r\n                            EBRD to help out some of our most promising local green startups                        <\/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\/14\/ebrd-to-help-out-some-of-our-most-promising-local-green-startups\/\" 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\/14\/ebrd-to-help-out-some-of-our-most-promising-local-green-startups\/')\">\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\/14\/ebrd-to-help-out-some-of-our-most-promising-local-green-startups\/\">\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=EBRD to help out some of our most promising local green startups&url=https:\/\/enterpriseam.com\/egypt\/2022\/11\/14\/ebrd-to-help-out-some-of-our-most-promising-local-green-startups\/\">\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\/14\/ebrd-to-help-out-some-of-our-most-promising-local-green-startups\/&title=EBRD to help out some of our most promising local green startups\">\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=EBRD+to+help+out+some+of+our+most+promising+local+green+startups+https%3A%2F%2Fenterpriseam.com%2Fegypt%2F2022%2F11%2F14%2Febrd-to-help-out-some-of-our-most-promising-local-green-startups%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\/14\/ebrd-to-help-out-some-of-our-most-promising-local-green-startups\/\">\r\n                    <div class=\"photo photo--above\">\r\n                        <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2022\/11\/216.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"577207\" data-permalink=\"https:\/\/enterpriseam.com\/egypt\/2022\/11\/14\/ebrd-to-help-out-some-of-our-most-promising-local-green-startups\/216-jpg-14\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2022\/11\/216.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"216.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2022\/11\/216.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2022\/11\/216.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-577206\" class=\"content-area-description single-story post-577206 post type-post status-publish format-standard has-post-thumbnail hentry category-cop-watch tag-australia tag-cop-watch tag-cop27 tag-ebrd tag-enterpriseam tag-fao tag-green-hydrogen tag-hisham-badr tag-international-finance-corporation tag-planning-ministry tag-smart-green-governorates tag-tarek-el-molla wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<p><strong>Our friends at the EBRD are taking six Smart Green Governorates startups under their <\/strong><strong>wing: <\/strong>The European Bank for Reconstruction and Development (EBRD) will ink an agreement with the Planning Ministry to provide technical support to <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/93c95ba1-55eb-458c-a718-742546083012\">six of the eighteen startups<\/a> showcased in the ministry\u2019s <a href=\"https:\/\/www.sgg.eg\/Home\/Index\/\">Smart Green Governorates<\/a> initiative, project coordinator Hisham Badr confirmed to Enterprise, following a Planning Ministry <a href=\"https:\/\/www.facebook.com\/EgyptianCabinet\/posts\/pfbid02krsvV3oF84HELw4UeiX7xTLbLUi4XnkBHTDoa2PHpCXY9Gt43Bu8Na4RDyPLJoMCl\">statement<\/a>.<\/p>\n<p><strong>The selected startups: <\/strong>E-scooter startup <a href=\"https:\/\/rabbit-app.com\/\">Rabbit Mobility<\/a>; renewable energy player <a href=\"https:\/\/eg.linkedin.com\/company\/noornation\">NoorNation<\/a>; solar and water firm <a href=\"https:\/\/www.engazaat.com\/\">Engazaat<\/a>; plastics-alternatives company <a href=\"https:\/\/www.banlasticegypt.com\/\">Banlastic<\/a>; Kadet El Mostakbal; and Archtech.<\/p>\n<p><strong>The six companies will get technical support, training, and business advisory services,<\/strong> including access to the EBRD\u2019s pool of more than 400 local business consultants and 1.5k international experts, the statement read.<\/p>\n<p><strong>The chosen projects could also be in line for financing from the EBRD <\/strong>under case-by-case agreements with the lender after the necessary studies have been completed, Badr told Enterprise.<\/p>\n<p><strong>Smart Green Governorates awardees are getting attention at COP: <\/strong>Organizations including the International Finance Corporation, the World Food Programme, and the UN Food and Agriculture Organization expressed interest in supporting the companies, Badr told us. \u201cWe held a few meetings to discuss potential collaboration interventions with representatives from the IFC, FAO, and WFP, where they expressed interest in some of the projects relevant to their mandates,\u201d he said.<\/p>\n<p><strong>What\u2019s next? <\/strong>The initiative will be back for COP28 next year in the UAE with a larger number of smart and green Egyptian projects, Badr added.<\/p>\n<p><strong>REFRESHER- <\/strong>The 18 projects were chosen from more than 6k applicants to be put in front of investors at COP and help them attract finance from global lenders. <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/e8eb443e-1fe6-4c0f-9ce4-3fa2f1ae7b2b\">We sat down with Badr<\/a>to learn more about the initiative in the run-up to COP.<\/p>\n<p><strong>OTHER HIGHLIGHTS FROM COP27-<\/strong><\/p>\n<p><strong>The US is providing USD 10 mn for an Africa-wide climate adaptation center in <\/strong><strong>Cairo<\/strong>, part of more than <a href=\"https:\/\/eg.usembassy.gov\/november-11-2022-fact-sheet-president-biden-announces-new-initiatives-at-cop27-to-strengthen-u-s-leadership-in-tackling-climate-change\/\">USD 150 mn in fresh adaptation support<\/a> pledged by US President Joe Biden to the continent, according to a cabinet <a href=\"https:\/\/www.facebook.com\/EgyptianCabinet\/posts\/pfbid0ECcNsm4xETwvn2PFKZcqvHGgoyMtcLMYoBNJH2KGsebSYbDp367JEq1tmFrmegDgl\">statement<\/a>. The Biden administration is also contributing USD 25 mn to the African Union\u2019s <a href=\"https:\/\/africaadaptationinitiative.org\/\">Africa Adaptation<\/a><a href=\"https:\/\/africaadaptationinitiative.org\/\">Initiative (AAI)<\/a> as part of the fresh pot of funding, cabinet said. .<\/p>\n<p><strong>Morocco and Egypt signed an MoU to strengthen cooperation on sustainable <\/strong><strong>development and environmental protection<\/strong>, according to a cabinet <a href=\"https:\/\/www.facebook.com\/EgyptianCabinet\/posts\/pfbid021LpBfkixoeNJDzAyUCG43hW1HumK9HZg1STSQhuJBuWjuyVVT58U9b1B8x6X4Z4Xl\">statement<\/a>. The agreement covers sectors including renewable energy, climate change adaptation and mitigation, coastal zone management, marine pollution control, waste management, biodiversity conservation, environmental education and technology.<\/p>\n<p><strong>WATCH THIS SPACE- Egypt will launch a program, <\/strong><strong>dubbed Green Star<\/strong><strong>, that will favor <\/strong><strong>low-carbon <\/strong><strong>products for government purchases<\/strong>, Trade and Industry Ministry Ahmed Samir said during Decarbonization Day. (<a href=\"https:\/\/www.facebook.com\/EgyptianCabinet\/posts\/pfbid07zmEXyDZFjDPimSpMMeeyViQ3A86ACpBb9GXCahwVrDSffiBXzSVwwDh3moVdYdpl\">Statement<\/a>)<\/p>\n<p>Other headlines worth knowing about:<\/p>\n<ul>\n<li><strong>Prime Minister Moustafa Madbouly established a business council for sustainable <\/strong><strong>development <\/strong>to pool funding and support for green economy projects. (<a href=\"https:\/\/www.facebook.com\/EgyptianCabinet\/posts\/pfbid0ZReRJzuttDbVv4ie5SwaqYWsyz6oP2JqGDNnne3PzvmD18w72gTpf9vismFMHYJol\">Statement<\/a>)<\/li>\n<li><strong>Egypt\u2019s <\/strong><strong><a href=\"https:\/\/www.engazaat.com\/\">Engazaat<\/a><\/strong><strong> has partnered up with Swedish cleantech firm <\/strong><strong><a href=\"https:\/\/www.azelio.com\/\">Azelio<\/a><\/strong><strong> and French <\/strong><strong>water<\/strong><strong> solutions provider <\/strong><strong><a href=\"https:\/\/www.osmosun.com\/\">Mascara NT<\/a><\/strong><strong> to set up water desalination systems <\/strong>for off-grid desert farmers across Africa, starting in Egypt\u2019s Moghra oasis. (<a href=\"https:\/\/www.marketscreener.com\/quote\/stock\/AZELIO-AB-PUBL-61747217\/news\/Engazaat-Azelio-and-Mascara-NT-launch-the-ldquo-SAVE-Cleantech-Utilities-rdquo-alliance-42241391\/\">Press release<\/a>)<\/li>\n<li><strong>COP27 President and Foreign Minister Sameh Shoukry discussed food <\/strong><strong>security<\/strong> and the US-UAE led <a href=\"https:\/\/www.aimforclimate.org\/\">AIM for Climate<\/a> agriculture investment platform with US Agriculture Secretary Tom Vilsack. (<a href=\"http:\/\/bit.ly\/3tnwwAg\">Statement<\/a>)<\/li>\n<li><strong>Egyptian and Australian authorities discussed upping cooperation on <\/strong><strong>mining and green hydrogen <\/strong>in a meeting between Oil Minister Tarek El Molla and Australian Environment and Climate Action Minister Reece Whitby. (<a href=\"https:\/\/www.facebook.com\/EgyptMOP\/posts\/pfbid0327UomRWd5NJS2fH6ktzf8G8Uyq64fqdgn3vwJFEe3zavW9viKpk3mmevcXMKUT6rl\">Oil Ministry statement<\/a>) <\/li>\n<\/ul>\n\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/australia\/\">Australia<\/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\/ebrd\/\">EBRD<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/fao\/\">FAO<\/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\/hisham-badr\/\">Hisham Badr<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/international-finance-corporation\/\">International Finance Corporation<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/planning-ministry\/\">Planning Ministry<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/smart-green-governorates\/\">Smart Green Governorates<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/tarek-el-molla\/\">Tarek El Molla<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                    <\/div>\n    <\/div>\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"577208\" 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=\"577208\">\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\">A MESSAGE FROM HSBC<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2022\/11\/14\/banks-can-play-an-important-role-in-the-transition-journey-of-smes\/\">\r\n                            Banks can play an important role in the transition journey of SMEs                        <\/a>\r\n                    <\/h3>\r\n\r\n                    \r\n\t\t\t\t\t\n<div class=\"cta\">\n    <div class=\"cta__btn share-dropdown-cta dropdown-toggle-btn\" style=\"position:relative\">\n        <img decoding=\"async\" src=\"https:\/\/ent.news\/internal\/408834.svg\" alt=\"\">\n        Share Story\n        <!-- Dropdown Menu -->\n        <ul class=\"share-menu\">\n            <li class=\"list-inline-item\">\n                <a href=\"https:\/\/enterpriseam.com\/egypt\/2022\/11\/14\/banks-can-play-an-important-role-in-the-transition-journey-of-smes\/\" target=\"_blank\">\n                    Open in new tab                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/new-tab.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a href=\"#\" target=\"_blank\" onclick=\"event.preventDefault(); navigator.clipboard.writeText('https:\/\/enterpriseam.com\/egypt\/2022\/11\/14\/banks-can-play-an-important-role-in-the-transition-journey-of-smes\/')\">\n                    Copy Link                <\/a>\n\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a target=\"_blank\" href=\"https:\/\/www.facebook.com\/sharer.php?u=https:\/\/enterpriseam.com\/egypt\/2022\/11\/14\/banks-can-play-an-important-role-in-the-transition-journey-of-smes\/\">\n                    Facebook                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/facebook-icon2.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a target=\"_blank\" href=\"https:\/\/x.com\/intent\/post?text=Banks can play an important role in the transition journey of SMEs&url=https:\/\/enterpriseam.com\/egypt\/2022\/11\/14\/banks-can-play-an-important-role-in-the-transition-journey-of-smes\/\">\n                    X                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/twitter-icon.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a target=\"_blank\" href=\"https:\/\/www.linkedin.com\/shareArticle?mini=true&url=https:\/\/enterpriseam.com\/egypt\/2022\/11\/14\/banks-can-play-an-important-role-in-the-transition-journey-of-smes\/&title=Banks can play an important role in the transition journey of SMEs\">\n                    LinkedIn                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/linkedin-icon.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a href=\"https:\/\/api.whatsapp.com\/send?text=Banks+can+play+an+important+role+in+the+transition+journey+of+SMEs+https%3A%2F%2Fenterpriseam.com%2Fegypt%2F2022%2F11%2F14%2Fbanks-can-play-an-important-role-in-the-transition-journey-of-smes%2F\">\n                    WhatsApp                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/whatsapp-icon.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n        <\/ul>\n    <\/div>\n        <\/div>\r\n                    \r\n                <\/div>\r\n\r\n            \r\n            <div class=\"story__body\">\r\n\r\n                <a href=\"https:\/\/enterpriseam.com\/egypt\/2022\/11\/14\/banks-can-play-an-important-role-in-the-transition-journey-of-smes\/\">\r\n                    <div class=\"photo photo--above\">\r\n                        <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2022\/11\/217.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"577209\" data-permalink=\"https:\/\/enterpriseam.com\/egypt\/2022\/11\/14\/banks-can-play-an-important-role-in-the-transition-journey-of-smes\/217-jpg-20\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2022\/11\/217.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"217.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2022\/11\/217.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2022\/11\/217.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-577208\" class=\"content-area-description single-story post-577208 post type-post status-publish format-standard has-post-thumbnail hentry category-a-message-from-hsbc tag-a-message-from-hsbc tag-enterpriseam tag-hsbc tag-natalie-blyth tag-smes wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<p>By Natalie Blyth<\/p>\n<p><a class=\"content-anchor\" id=\"tldr-story-06\"><\/a> If the world is to meet its net zero targets by 2050, businesses must contribute by innovating quickly and at scale. Large firms are already in the spotlight in this regard, and many are making good progress. But the role that SMEs need to play in the net zero transition is critical, and needs to be more closely addressed.<\/p>\n<p>SMEs are the backbone of most economies. They make up 90% of global supply chains, which themselves account for nearly 80% of total carbon emissions. <a href=\"https:\/\/www.hsbc.com\/insight\/topics\/seven-steps-to-tackle-a-usd50-trillion-challenge\">Of the USD 100 tn investment required to reach a net zero economy by 2050, USD 25-50 tn must be directed to SMEs.<\/a> These figures are stark, and show that SMEs\u2019 ability to address sustainability is critical to the outcome of climate change.<\/p>\n<p>Yet, compared to large companies and multinationals, SMEs are poorly equipped to make the changes necessary to transition. Unlike larger peers, they often lack the data, resources and know-how to map out detailed ESG plans. And as they navigate an environment shaped by pandemic aftershocks, energy crises, soaring inflation, and volatile geopolitics, SMEs the world over are simply operating in survival mode. They might be forgiven therefore, for focusing on the short term, but if we are to avert the worst impacts of climate change, it is critical that the challenges they face on their transition journey are significantly reduced.<\/p>\n<p>How can this be achieved given the backdrop? While there is no silver bullet, banks are becoming an increasingly significant enabler, because they can play an important role in three key areas \u2014 facilitation, financing, and absorbing risk.<\/p>\n<p>On facilitation, banks can help SMEs take the first step \u2014 developing transparency around their emissions, by providing inexpensive (and sometimes no-cost) tools like carbon calculators and ESG scorers to help identify individual footprints, highlight emissions hotspots, and suggest high-impact reduction measures. They can also provide a range of guidance, thought leadership, and vetted solutions to help customers on their transition journeys.<\/p>\n<p>Bank financing, arguably the most well-known solution, allows for the provision of a range of options, from mechanisms to tie the cost of lending to ESG performance, through to ring-fenced finance such as <a href=\"https:\/\/www.business.hsbc.com.eg\/en-gb\/campaigns\/sme-istidama-programme\">SME funds for funding green companies<\/a>, or where proceeds are earmarked for green purposes. At HSBC we worked with a waste management company to provide financing to restructure its capex. The business was able to invest in modern machinery to recycle materials to sell back to the industry (capitalizing on a revenue stream), establish lower landfill costs, reduce emissions, and thus create a circular economy.<\/p>\n<p>With regards to mitigating risk, banks have acted as intermediaries between trade buyers and sellers for centuries, absorbing the risk and \/ or acting as guarantor, allowing companies to trade with confidence. In the case of supply chain finance, suppliers gain the reassurance of receiving early payment, and when counterparties are new to trading with each other, the intermediation of banks can provide more certainty that the quality or specifications of goods sold are as they should be. This need will grow as businesses look to trade or source more sustainably.<\/p>\n<p>Expecting SMEs to transition in isolation is unfair and unrealistic, and misses how hugely complex and multifaceted solving the climate problem is. It will take collaboration \u2014 not just with banks, but with peers to share knowledge and approach across sectors; buyers to understand their requirements, and the public sector to understand policy and enable access to skills development programs, to name but a few.<\/p>\n<p>The road ahead may look daunting, but tackling this challenge is not beyond SMEs\u2019 reach. Seized now, the transition to net zero can be a huge growth opportunity for small businesses and help increase the pace of change required for the world to achieve net zero targets.<\/p>\n<p><em>Natalie Blyth (<\/em><em><a href=\"https:\/\/www.linkedin.com\/in\/natalie-blyth\">LinkedIn<\/a><\/em><em>) is global head of commercial banking sustainability at HSBC. HSBC\u2019s column on Enterprise appears every second Monday.<\/em><\/p>\n\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/a-message-from-hsbc\/\">A MESSAGE FROM HSBC<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/hsbc\/\">HSBC<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/natalie-blyth\/\">Natalie Blyth<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/smes\/\">SMEs<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                    <\/div>\n    <\/div>\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"577210\" 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=\"577210\">\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\">CLIMATE CEO POLL<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2022\/11\/14\/the-enterprise-climate-ceo-poll-orascom-constructions-osama-bishai\/\">\r\n                            The Enterprise Climate CEO Poll: Orascom Construction\u2019s Osama Bishai                        <\/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\/14\/the-enterprise-climate-ceo-poll-orascom-constructions-osama-bishai\/\" 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\/14\/the-enterprise-climate-ceo-poll-orascom-constructions-osama-bishai\/')\">\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\/14\/the-enterprise-climate-ceo-poll-orascom-constructions-osama-bishai\/\">\n                    Facebook                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/facebook-icon2.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a target=\"_blank\" href=\"https:\/\/x.com\/intent\/post?text=The Enterprise Climate CEO Poll: Orascom Construction\u2019s Osama Bishai&url=https:\/\/enterpriseam.com\/egypt\/2022\/11\/14\/the-enterprise-climate-ceo-poll-orascom-constructions-osama-bishai\/\">\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\/14\/the-enterprise-climate-ceo-poll-orascom-constructions-osama-bishai\/&title=The Enterprise Climate CEO Poll: Orascom Construction\u2019s Osama Bishai\">\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+Enterprise+Climate+CEO+Poll%3A+Orascom+Construction%E2%80%99s+Osama+Bishai+https%3A%2F%2Fenterpriseam.com%2Fegypt%2F2022%2F11%2F14%2Fthe-enterprise-climate-ceo-poll-orascom-constructions-osama-bishai%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\/14\/the-enterprise-climate-ceo-poll-orascom-constructions-osama-bishai\/\">\r\n                    <div class=\"photo photo--above\">\r\n                        <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2022\/11\/218.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"577211\" data-permalink=\"https:\/\/enterpriseam.com\/egypt\/2022\/11\/14\/the-enterprise-climate-ceo-poll-orascom-constructions-osama-bishai\/218-jpg-11\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2022\/11\/218.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"218.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2022\/11\/218.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2022\/11\/218.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-577210\" class=\"content-area-description single-story post-577210 post type-post status-publish format-standard has-post-thumbnail hentry category-climate-ceo-poll tag-climate tag-climate-ceo-poll tag-cop27 tag-enterpriseam tag-orascom-construction 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>Enterprise Climate CEO Poll- Osama Bishai, Orascom Construction:<\/strong> As COP27 rolls on, so does the inaugural Climate CEO Poll from Enterprise Climate and EnterpriseAM. In this series of interviews, we discuss key issues with top CEOs including climate finance, regulation, and the move towards a green economy.<\/p>\n<p><strong>Osama Bishai (<\/strong><strong><a href=\"https:\/\/www.linkedin.com\/in\/osama-bishai-021259140\/\">LinkedIn<\/a><\/strong><strong>) is CEO of Orascom Construction (OC). <\/strong>One of the world\u2019s largest contractors with operations both here and in the US (as well as through its Belgium-based, 50%-owned subsidiary BESIX), OC is among firms leading the push to upscale Egypt\u2019s renewable energy capacity, electrify its transport network, and transform it into a regional hub for green hydrogen.<\/p>\n<p><strong>OC is <\/strong><strong>taking \u201ca very aggressive focus on renewables\u201d with a view to both domestic needs and export<\/strong>, Bishai tells us. The company\u2019s consortium with Toyota Tsusho and Engie now has some 3.8 GW of installed and planned wind capacity here, after announcing plans to build a <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/ce29a6e4-8653-4954-b817-c38ac8a69aa8\">fresh 3 GW wind farm<\/a> and breaking ground on their <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/448f4089-1c32-47d2-b37e-2ab97142d101\">500 MW Ras Ghareb facility<\/a>, both last week during COP. Looking long-term, \u201crenewables and particularly wind will be a major source of electricity for Egyptians and hopefully we are able to export,\u201d he says.<\/p>\n<p><strong>Transport projects including the <\/strong><strong><a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/7edfc1a2-6bda-4dbd-8444-2c67c47ecf4f\">high-speed electric rail network<\/a><\/strong><strong> contribute to the government\u2019s decarbonization efforts<\/strong>, Bishai says. \u201cAs far as the pipeline in Egypt goes, we continue to be involved in heavy infrastructure and construction, whether it\u2019s roads or transportation. Transportation is beginning to be a major part of our portfolio, and most of those projects are driven by electric energy, which is a major step forward for the Transport Ministry to be able to decarbonise or decrease the carbon footprint in their portfolio.\u201d<\/p>\n<p><strong>The company has a first-mover advantage when it comes to green hydrogen: <\/strong>\u201cThe hydrogen projects that we are involved in, we have created a skillset that I believe is unique in this part of the world,\u201d Bishai says. OC is part of the consortium with Scatec, Fertiglobe and the Sovereign Fund of Egypt that is building <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/99ca1d1b-be1a-45fd-99ef-358318449438\">Egypt\u2019s first green hydrogen plant<\/a>, the first phase of which went into commissioning last week.<\/p>\n<p><strong>Water is another focus for OC and a key challenge for the country<\/strong>, Bishai adds. OC will look to grow its already \u201csizable portfolio\u201d of water treatment projects, and is \u201cworking on a treatment plant in the middle of the desert to manage and optimize the use of irrigation and the water wasted from irrigation,\u201d he says.<\/p>\n<p><strong>Sustainable buildings including the Grand Egyptian Museum<\/strong> are another component of the company\u2019s green portfolio, Bishai adds.<\/p>\n<p><strong>Bishai is optimistic about the potential that the green transition creates for contractors<\/strong> \u2014 and thinks there\u2019s no need to wait for fresh policies out of COP to get the ball rolling. \u201cOur business is unlike some of the businesses that will be affected by policies. There is a great pipeline in renewables for developers and contractors like us,\u201d he says. \u201cThere are several opportunities to get into new technologies that could put contractors at the forefront.\u201d<\/p>\n\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/climate\/\">Climate<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/climate-ceo-poll\/\">CLIMATE CEO POLL<\/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\/orascom-construction\/\">Orascom Construction<\/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=\"577212\" 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=\"577212\">\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\">LEGISLATION WATCH<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2022\/11\/14\/fx-for-tax-cuts-plan-earns-senate-approval\/\">\r\n                            FX-for-tax cuts plan earns Senate approval                        <\/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\/14\/fx-for-tax-cuts-plan-earns-senate-approval\/\" 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\/14\/fx-for-tax-cuts-plan-earns-senate-approval\/')\">\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\/14\/fx-for-tax-cuts-plan-earns-senate-approval\/\">\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=FX-for-tax cuts plan earns Senate approval&url=https:\/\/enterpriseam.com\/egypt\/2022\/11\/14\/fx-for-tax-cuts-plan-earns-senate-approval\/\">\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\/14\/fx-for-tax-cuts-plan-earns-senate-approval\/&title=FX-for-tax cuts plan earns Senate approval\">\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=FX-for-tax+cuts+plan+earns+Senate+approval+https%3A%2F%2Fenterpriseam.com%2Fegypt%2F2022%2F11%2F14%2Ffx-for-tax-cuts-plan-earns-senate-approval%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\/14\/fx-for-tax-cuts-plan-earns-senate-approval\/\">\r\n                    <div class=\"photo photo--above\">\r\n                        <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2022\/11\/219.jpeg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"577213\" data-permalink=\"https:\/\/enterpriseam.com\/egypt\/2022\/11\/14\/fx-for-tax-cuts-plan-earns-senate-approval\/219-jpeg\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2022\/11\/219.jpeg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"219.jpeg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2022\/11\/219.jpeg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2022\/11\/219.jpeg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-577212\" class=\"content-area-description single-story post-577212 post type-post status-publish format-standard has-post-thumbnail hentry category-legislation-watch tag-enterpriseam tag-investment-act tag-legislation tag-legislation-watch tag-senate tag-tax wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<p><strong>Senators approve FX-for-tax cuts incentives:<\/strong> The Senate has approved <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/c8212c49-f9f0-4f96-8772-35f7390675bf\">legal<\/a><a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/c8212c49-f9f0-4f96-8772-35f7390675bf\">amendments<\/a> that would grant income tax breaks to investors who use FX to finance at least half of the cost of their projects. Under the proposed amendments to the 2017 Investment Act, companies would receive a tax cut of up to 55% on income generated by projects funded by FX. The changes are part of a package of measures designed to stimulate private investment and bring more FX into the country.<\/p>\n<p><strong>What\u2019s next<\/strong>: The bill will be referred to the House of Representatives for discussion.<\/p>\n<p><strong>FROM THE HOUSE-<\/strong><\/p>\n<p><strong>The government is one step closer to covering contractors\u2019 losses:<\/strong> The House Housing Committee yesterday gave initial approval to <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/827ca907-600a-408a-92cd-862ed7e58191\">amendments<\/a> that would see the government pay compensation to contractors who have suffered losses on the back of recent economic reforms such as the EGP float. The Senate <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/827ca907-600a-408a-92cd-862ed7e58191\">green-lit the move<\/a> at the end of October.<\/p>\n<p><strong>What\u2019s next: <\/strong>The bill will make its way to the plenary session of the House of Representatives for a vote.<\/p>\n<p><strong>More to come:<\/strong> Housing Committee Chairman Emad Hammouda said the committee would discuss a raft of new construction bills in the coming period, including new government-drafted amendments to the <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/46365d61-2678-435c-a7e7-c4e0c31454f6\">Unified Building Law<\/a>.<\/p>\n\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/investment-act\/\">Investment Act<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/legislation\/\">legislation<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/legislation-watch\/\">Legislation Watch<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/senate\/\">Senate<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/tax\/\">tax<\/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=\"577214\" 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=\"577214\">\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\">EARNINGS WATCH<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2022\/11\/14\/raya-cx-net-income-falls-61-in-9m-2022\/\">\r\n                            Raya CX net income falls 61% in 9M 2022                        <\/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\/14\/raya-cx-net-income-falls-61-in-9m-2022\/\" 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\/14\/raya-cx-net-income-falls-61-in-9m-2022\/')\">\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\/14\/raya-cx-net-income-falls-61-in-9m-2022\/\">\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=Raya CX net income falls 61% in 9M 2022&url=https:\/\/enterpriseam.com\/egypt\/2022\/11\/14\/raya-cx-net-income-falls-61-in-9m-2022\/\">\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\/14\/raya-cx-net-income-falls-61-in-9m-2022\/&title=Raya CX net income falls 61% in 9M 2022\">\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=Raya+CX+net+income+falls+61%25+in+9M+2022+https%3A%2F%2Fenterpriseam.com%2Fegypt%2F2022%2F11%2F14%2Fraya-cx-net-income-falls-61-in-9m-2022%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\/14\/raya-cx-net-income-falls-61-in-9m-2022\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-577214\" class=\"content-area-description single-story post-577214 post type-post status-publish format-standard hentry category-earnings-watch tag-earnings tag-earnings-watch tag-enterpriseam tag-gulf-cx tag-outsourcing tag-raya-cx wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<p><strong>Raya Customer Experience (Raya CX) saw its net income decline 61% y-o-y to EGP <\/strong><strong>7.8 mn<\/strong> <strong>in <\/strong><strong>9M 2022<\/strong><strong>, <\/strong>thanks to rising wages and technology costs as the firm expands, according to its latest <a href=\"https:\/\/ent.news\/2022\/11\/RayaCX-2022_9M.pdf\">earni<\/a><a href=\"https:\/\/ent.news\/2022\/11\/RayaCX-2022_9M.pdf\">ngs rele<\/a><a href=\"https:\/\/ent.news\/2022\/11\/RayaCX-2022_9M.pdf\">ase (<\/a><a href=\"https:\/\/ent.news\/2022\/11\/RayaCX-2022_9M.pdf\">pdf<\/a><a href=\"https:\/\/ent.news\/2022\/11\/RayaCX-2022_9M.pdf\">)<\/a>. The company\u2019s top line grew 51% y-o-y to EGP 848.3 mn in the nine-month period, led by the firm\u2019s outsourcing business and offshore revenues, including its growing call center firm Gulf Customer Experience (Gulf CX), CEO Ahmed Refky said.<\/p>\n<p><strong>Raya CX's main source of revenue generation is still contact center outsourcing<\/strong>, which brought in EGP 445.1 mn in the first nine months of the year, or almost 53% of the company's total revenue. The company\u2019s insourcing business came in second place with 30% of total revenue, followed by hosting, which made up the remaining 18%.<\/p>\n<p><strong>Still growing in the Gulf:<\/strong> While the firm\u2019s Egyptian operations continue to account for the bulk of its business (some 80.8%), Raya CX\u2019s Gulf operations saw revenues grow nearly eight-fold y-o-y to EGP 147.7 mn in 9M 2022 as a result of its <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/59745719-d961-4387-b8bd-2d81aa4a6473\">2021 acquisition<\/a> of Gulf CX.<\/p>\n\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/earnings\/\">earnings<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/earnings-watch\/\">earnings watch<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/gulf-cx\/\">Gulf CX<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/outsourcing\/\">outsourcing<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/raya-cx\/\">Raya CX<\/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=\"577215\" 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=\"577215\">\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\">Moves<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2022\/11\/14\/business-france-gets-new-egypt-director\/\">\r\n                            Business France gets new Egypt director                        <\/a>\r\n                    <\/h3>\r\n\r\n                    \r\n\t\t\t\t\t\n<div class=\"cta\">\n    <div class=\"cta__btn share-dropdown-cta dropdown-toggle-btn\" style=\"position:relative\">\n        <img decoding=\"async\" src=\"https:\/\/ent.news\/internal\/408834.svg\" alt=\"\">\n        Share Story\n        <!-- Dropdown Menu -->\n        <ul class=\"share-menu\">\n            <li class=\"list-inline-item\">\n                <a href=\"https:\/\/enterpriseam.com\/egypt\/2022\/11\/14\/business-france-gets-new-egypt-director\/\" target=\"_blank\">\n                    Open in new tab                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/new-tab.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a href=\"#\" target=\"_blank\" onclick=\"event.preventDefault(); navigator.clipboard.writeText('https:\/\/enterpriseam.com\/egypt\/2022\/11\/14\/business-france-gets-new-egypt-director\/')\">\n                    Copy Link                <\/a>\n\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a target=\"_blank\" href=\"https:\/\/www.facebook.com\/sharer.php?u=https:\/\/enterpriseam.com\/egypt\/2022\/11\/14\/business-france-gets-new-egypt-director\/\">\n                    Facebook                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/facebook-icon2.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a target=\"_blank\" href=\"https:\/\/x.com\/intent\/post?text=Business France gets new Egypt director&url=https:\/\/enterpriseam.com\/egypt\/2022\/11\/14\/business-france-gets-new-egypt-director\/\">\n                    X                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/twitter-icon.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a target=\"_blank\" href=\"https:\/\/www.linkedin.com\/shareArticle?mini=true&url=https:\/\/enterpriseam.com\/egypt\/2022\/11\/14\/business-france-gets-new-egypt-director\/&title=Business France gets new Egypt director\">\n                    LinkedIn                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/linkedin-icon.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a href=\"https:\/\/api.whatsapp.com\/send?text=Business+France+gets+new+Egypt+director+https%3A%2F%2Fenterpriseam.com%2Fegypt%2F2022%2F11%2F14%2Fbusiness-france-gets-new-egypt-director%2F\">\n                    WhatsApp                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/whatsapp-icon.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n        <\/ul>\n    <\/div>\n        <\/div>\r\n                    \r\n                <\/div>\r\n\r\n            \r\n            <div class=\"story__body\">\r\n\r\n                <a href=\"https:\/\/enterpriseam.com\/egypt\/2022\/11\/14\/business-france-gets-new-egypt-director\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-577215\" class=\"content-area-description single-story post-577215 post type-post status-publish format-standard hentry category-moves tag-enterpriseam tag-moves tag-romain-guizard wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<p><strong>Romain Guizard<\/strong> (<a href=\"https:\/\/www.linkedin.com\/in\/romainguizard\/\">LinkedIn<\/a>) has been appointed <strong><a href=\"https:\/\/www.businessfrance.fr\/en\/home\">Business France\u2019s<\/a><\/strong> <strong>Egypt director<\/strong> and <strong>commercial counselor<\/strong> of the <strong>French Embassy in Cairo<\/strong>, the organization said in <a href=\"https:\/\/ent.news\/2022\/11\/New-Country-Director-for-Business-Frances-agency-in-Egypt-EN-PRL.pdf\">a statement (pdf)<\/a> last week. Guizard will help French companies expand in Egypt via an export development strategy and will draw up a strategy to help Egypt-based investors do business in France. Guizard has more than 20 years of experience in international trade and investment, and has been at Business France for more than five years. He enters his new role after heading up the organization\u2019s industry department for more than a year.<\/p>\n\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/moves\/\">moves<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/romain-guizard\/\">Romain Guizard<\/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=\"577216\" 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=\"577216\">\r\n            \r\n            <div class=\"story__body\">\r\n\r\n                <a href=\"https:\/\/enterpriseam.com\/egypt\/2022\/11\/14\/577216\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-577216\" class=\"content-area-description single-story post-577216 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\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=\"577217\" 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=\"577217\">\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\/14\/shops-are-about-to-face-a-host-of-new-regulations-in-a-matter-of-days\/\">\r\n                            Shops are about to face a host of new regulations in a matter of days                        <\/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\/14\/shops-are-about-to-face-a-host-of-new-regulations-in-a-matter-of-days\/\" 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\/14\/shops-are-about-to-face-a-host-of-new-regulations-in-a-matter-of-days\/')\">\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\/14\/shops-are-about-to-face-a-host-of-new-regulations-in-a-matter-of-days\/\">\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=Shops are about to face a host of new regulations in a matter of days&url=https:\/\/enterpriseam.com\/egypt\/2022\/11\/14\/shops-are-about-to-face-a-host-of-new-regulations-in-a-matter-of-days\/\">\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\/14\/shops-are-about-to-face-a-host-of-new-regulations-in-a-matter-of-days\/&title=Shops are about to face a host of new regulations in a matter of days\">\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=Shops+are+about+to+face+a+host+of+new+regulations+in+a+matter+of+days+https%3A%2F%2Fenterpriseam.com%2Fegypt%2F2022%2F11%2F14%2Fshops-are-about-to-face-a-host-of-new-regulations-in-a-matter-of-days%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\/14\/shops-are-about-to-face-a-host-of-new-regulations-in-a-matter-of-days\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-577217\" class=\"content-area-description single-story post-577217 post type-post status-publish format-standard hentry category-last-nights-talk-shows tag-enterpriseam tag-last-nights-talk-shows tag-legislation tag-public-stores-law tag-regulation tag-retail tag-turkey wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<p><strong>Luckily for everyone (including us), yesterday was (mostly) a COP-less night,<\/strong> with the nation\u2019s talking heads focusing on the deadly explosion in Turkey and several domestic topics.<\/p>\n<p><strong>Remember that <\/strong><strong><a href=\"https:\/\/enterprise.press\/stories\/2018\/12\/11\/bill-that-would-regulate-egypts-retail-industry-making-its-way-through-the-house-of-representatives\/\">law regulating shops<\/a><\/strong><strong> that was passed way back in 2019? That\u2019s <\/strong><strong>apparently coming into force in a matter of days<\/strong>, Rep. Ahmed El Seginy, who heads the House Local Administration Committee, told Kelma Akhira\u2019s Lamis El Hadid (<a href=\"https:\/\/www.youtube.com\/watch?v=hxah7xwu-JI\">watch, runtime: 13:19<\/a>).<\/p>\n<p><strong>Flashback to 2019:<\/strong> The bill, <a href=\"https:\/\/enterprise.press\/stories\/2019\/07\/16\/egypts-parliament-passes-amended-ngos-act-social-security-and-pensions-act-in-final-rush-before-summer\/\">passed by the House<\/a> in the summer of 2019, aims to bring shops operating without licenses into the formal economy by establishing new licensing requirements, introducing an inspection regime, and specifying ins. requirements among other things.<\/p>\n<p><strong>This is going to impact the vast majority of shops in Egypt<\/strong>, according to El Seginy, who told El Hadidi that 80-90% of stores operate without licenses.<\/p>\n<p><strong>The deadly attack in Istanbul yesterday was discussed everywhere<\/strong>, including on Ala Mas\u2019ouleety (<a href=\"https:\/\/www.youtube.com\/watch?v=HhwzfnDA7OY\">watch, runtime: 11:32<\/a>), El Hekaya (<a href=\"https:\/\/www.youtube.com\/watch?v=-RKrZQuNwok\">watch, runtime: 9:09<\/a>), Kelma Akhira (<a href=\"https:\/\/www.youtube.com\/watch?v=Z8Q5VQCjfHY\">watch, runtime: 2:12<\/a>) and Al Hayah Al Youm, which covered Egypt\u2019s condemnation of the attack (<a href=\"https:\/\/www.youtube.com\/watch?v=a-zOikCiBa4\">watch, runtime: 1:19<\/a>).<\/p>\n<p><strong>Also on the airwaves last night:<\/strong><\/p>\n<ul>\n<li><strong>El Sisi talks green hydrogen:<\/strong> President El Sisi <a href=\"http:\/\/bit.ly\/3UARCab\">held a meeting<\/a> with ministers to follow up on green hydrogen and ammonia projects being implemented in the Suez Canal Economic Zone with foreign companies (Ala Mas\u2019ouleety | <a href=\"https:\/\/www.youtube.com\/watch?v=ZzKf_UgmMcI\">watch, runtime: 2:22<\/a> | Al Hayah Al Youm | <a href=\"https:\/\/www.youtube.com\/watch?v=dSmmuyoGpYo\">watch, runtime: 3:39<\/a>)<\/li>\n<li><strong>Saturday\u2019s deadly bus crash that killed at least 21 people and injured eight others<\/strong> was still getting coverage. (Kelma Akhira | <a href=\"https:\/\/www.youtube.com\/watch?v=rD5-XsIkPqg\">watch, runtime: 5:32<\/a>)<\/li>\n<li><strong>Scenes of a heavy rainfall <\/strong><strong>hitting Alexandria <\/strong><strong>received a mention.<\/strong> (Kelma Akhira | <a href=\"https:\/\/www.youtube.com\/watch?v=BxEZlVn4glM\">watch, runtime: 4:57<\/a>)<\/li>\n<\/ul>\n\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/last-nights-talk-shows\/\">LAST NIGHT\u2019S TALK SHOWS<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/legislation\/\">legislation<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/public-stores-law\/\">Public Stores Law<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/regulation\/\">regulation<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/retail\/\">retail<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/turkey\/\">Turkey<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                    <\/div>\n    <\/div>\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"577218\" 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-9x6fpmy\" data-v=\"4\" data-block-id=\"9x6fpmy\"><div class=\"stk-column-wrapper stk-block-column__content stk-container stk-9x6fpmy-container stk--no-background stk--no-padding\"><div class=\"stk-block-content stk-inner-blocks stk-9x6fpmy-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-z2ksjfb\" data-v=\"4\" data-block-id=\"z2ksjfb\"><div class=\"stk-column-wrapper stk-block-column__content stk-container stk-z2ksjfb-container stk--no-background stk--no-padding\"><div class=\"stk-block-content stk-inner-blocks stk-z2ksjfb-inner-blocks\">\r\n            <div class=\"issue-sponsor-slide\">\r\n                <img data-recalc-dims=\"1\" decoding=\"async\" draggable=\"false\" src=\"https:\/\/i0.wp.com\/ent.news\/internal\/240924.png?ssl=1\">\r\n                <div class=\"overlay\"><\/div>\r\n                <div class=\"content\">\r\n                    <a draggable=\"false\" href=\"https:\/\/www.sodic.com\/\" target=\"_blank\" class=\"logo\" rel=\"noopener\">\r\n                        <img decoding=\"async\" draggable=\"false\" src=\"https:\/\/ent.news\/internal\/27487.svg\" alt=\"\">\r\n                    <\/a>\r\n                    <span>Live More<\/span>\r\n                <\/div>\r\n            <\/div>\r\n            <\/div><\/div><\/div>\r\n        \r\n            <div class=\"wp-block-stackable-column stk-block-column stk-column stk-block stk-pc9im1k\" data-v=\"4\" data-block-id=\"pc9im1k\"><div class=\"stk-column-wrapper stk-block-column__content stk-container stk-pc9im1k-container stk--no-background stk--no-padding\"><div class=\"stk-block-content stk-inner-blocks stk-pc9im1k-inner-blocks\">\r\n            <div class=\"issue-sponsor-slide\">\r\n                <img data-recalc-dims=\"1\" decoding=\"async\" draggable=\"false\" src=\"https:\/\/i0.wp.com\/ent.news\/internal\/240925.png?ssl=1\">\r\n                <div class=\"overlay\"><\/div>\r\n                <div class=\"content\">\r\n                    <a draggable=\"false\" href=\"https:\/\/weareinfinity.com\/\" target=\"_blank\" class=\"logo\" rel=\"noopener\">\r\n                        <img decoding=\"async\" draggable=\"false\" src=\"https:\/\/i0.wp.com\/ent.news\/internal\/27483.png?fit=300%2C300&#038;ssl=1\" alt=\"\">\r\n                    <\/a>\r\n                    <span>Powering with nature<\/span>\r\n                <\/div>\r\n            <\/div>\r\n            <\/div><\/div><\/div>\r\n        \r\n            <div class=\"wp-block-stackable-column stk-block-column stk-column stk-block stk-7fu4z3l\" data-v=\"4\" data-block-id=\"7fu4z3l\"><div class=\"stk-column-wrapper stk-block-column__content stk-container stk-7fu4z3l-container stk--no-background stk--no-padding\"><div class=\"stk-block-content stk-inner-blocks stk-7fu4z3l-inner-blocks\">\r\n            <div class=\"issue-sponsor-slide\">\r\n                <img data-recalc-dims=\"1\" decoding=\"async\" draggable=\"false\" src=\"https:\/\/i0.wp.com\/ent.news\/internal\/240926.jpg?ssl=1\">\r\n                <div class=\"overlay\"><\/div>\r\n                <div class=\"content\">\r\n                    <a draggable=\"false\" href=\"https:\/\/www.qalaaholdings.com\/\" target=\"_blank\" class=\"logo\" rel=\"noopener\">\r\n                        <img decoding=\"async\" draggable=\"false\" src=\"https:\/\/ent.news\/internal\/110691.svg\" alt=\"\">\r\n                    <\/a>\r\n                    <span>Driving growth<\/span>\r\n                <\/div>\r\n            <\/div>\r\n            <\/div><\/div><\/div>\r\n        <\/div><div class=\"stk-block-carousel__buttons\"><button class=\"stk-block-carousel__button stk-block-carousel__button__prev\" aria-label=\"Previous slide\"><svg aria-hidden=\"true\" focusable=\"false\" data-prefix=\"fas\" data-icon=\"chevron-left\" class=\"svg-inline--fa fa-chevron-left\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" viewBox=\"0 0 320 512\" width=\"32\" height=\"32\"><path d=\"M34.52 239.03L228.87 44.69c9.37-9.37 24.57-9.37 33.94 0l22.67 22.67c9.36 9.36 9.37 24.52.04 33.9L131.49 256l154.02 154.75c9.34 9.38 9.32 24.54-.04 33.9l-22.67 22.67c-9.37 9.37-24.57 9.37-33.94 0L34.52 272.97c-9.37-9.37-9.37-24.57 0-33.94z\"><\/path><\/svg><\/button><button class=\"stk-block-carousel__button stk-block-carousel__button__next\" aria-label=\"Next slide\"><svg aria-hidden=\"true\" focusable=\"false\" data-prefix=\"fas\" data-icon=\"chevron-right\" class=\"svg-inline--fa fa-chevron-right\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" viewBox=\"0 0 320 512\" width=\"32\" height=\"32\"><path d=\"M285.476 272.971L91.132 467.314c-9.373 9.373-24.569 9.373-33.941 0l-22.667-22.667c-9.357-9.357-9.375-24.522-.04-33.901L188.505 256 34.484 101.255c-9.335-9.379-9.317-24.544.04-33.901l22.667-22.667c9.373-9.373 24.569-9.373 33.941 0L285.475 239.03c9.373 9.372 9.373 24.568.001 33.941z\"><\/path><\/svg><\/button><\/div><\/div><div class=\"stk-block-carousel__dots\" role=\"list\" data-label=\"Slide %%d\"><\/div><\/div><\/div>\r\n        <\/div>\r\n<\/section> \r\n\r\n\n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"577219\" 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=\"577219\">\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\/14\/cop27-climate-continues-to-dominate-the-conversation-on-egypt\/\">\r\n                            COP27 + climate continues to dominate the conversation on Egypt                        <\/a>\r\n                    <\/h3>\r\n\r\n                    \r\n\t\t\t\t\t\n<div class=\"cta\">\n    <div class=\"cta__btn share-dropdown-cta dropdown-toggle-btn\" style=\"position:relative\">\n        <img decoding=\"async\" src=\"https:\/\/ent.news\/internal\/408834.svg\" alt=\"\">\n        Share Story\n        <!-- Dropdown Menu -->\n        <ul class=\"share-menu\">\n            <li class=\"list-inline-item\">\n                <a href=\"https:\/\/enterpriseam.com\/egypt\/2022\/11\/14\/cop27-climate-continues-to-dominate-the-conversation-on-egypt\/\" target=\"_blank\">\n                    Open in new tab                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/new-tab.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a href=\"#\" target=\"_blank\" onclick=\"event.preventDefault(); navigator.clipboard.writeText('https:\/\/enterpriseam.com\/egypt\/2022\/11\/14\/cop27-climate-continues-to-dominate-the-conversation-on-egypt\/')\">\n                    Copy Link                <\/a>\n\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a target=\"_blank\" href=\"https:\/\/www.facebook.com\/sharer.php?u=https:\/\/enterpriseam.com\/egypt\/2022\/11\/14\/cop27-climate-continues-to-dominate-the-conversation-on-egypt\/\">\n                    Facebook                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/facebook-icon2.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a target=\"_blank\" href=\"https:\/\/x.com\/intent\/post?text=COP27 + climate continues to dominate the conversation on Egypt&url=https:\/\/enterpriseam.com\/egypt\/2022\/11\/14\/cop27-climate-continues-to-dominate-the-conversation-on-egypt\/\">\n                    X                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/twitter-icon.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a target=\"_blank\" href=\"https:\/\/www.linkedin.com\/shareArticle?mini=true&url=https:\/\/enterpriseam.com\/egypt\/2022\/11\/14\/cop27-climate-continues-to-dominate-the-conversation-on-egypt\/&title=COP27 + climate continues to dominate the conversation on Egypt\">\n                    LinkedIn                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/linkedin-icon.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a href=\"https:\/\/api.whatsapp.com\/send?text=COP27+%2B+climate+continues+to+dominate+the+conversation+on+Egypt+https%3A%2F%2Fenterpriseam.com%2Fegypt%2F2022%2F11%2F14%2Fcop27-climate-continues-to-dominate-the-conversation-on-egypt%2F\">\n                    WhatsApp                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/whatsapp-icon.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n        <\/ul>\n    <\/div>\n        <\/div>\r\n                    \r\n                <\/div>\r\n\r\n            \r\n            <div class=\"story__body\">\r\n\r\n                <a href=\"https:\/\/enterpriseam.com\/egypt\/2022\/11\/14\/cop27-climate-continues-to-dominate-the-conversation-on-egypt\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-577219\" class=\"content-area-description single-story post-577219 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-germany tag-history tag-human-rights tag-un wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<p><strong>COP27 might have taken a day off yesterday, but climate is still leading the conversation <\/strong><strong>on Egypt in the <\/strong><strong>foreign press this morning.<\/strong> Environment Minister Yasmine Fouad talks to the <a href=\"https:\/\/www.washingtonpost.com\/world\/midway-through-un-climate-talks-egypt-pushes-to-bridge-gaps\/2022\/11\/12\/5f627ca0-62b6-11ed-a131-e900e4a6336b_story.html\">Associated Press<\/a> about Egypt\u2019s aims for the negotiations, the <a href=\"https:\/\/www.nytimes.com\/2022\/11\/12\/world\/middleeast\/climate-change-and-human-activity-erode-egypts-treasured-antiquities.html\">New York Times<\/a> writes that our antiquities are under threat from the effects of climate change and mass tourism, while <a href=\"https:\/\/apnews.com\/article\/health-africa-business-middle-east-egypt-80a7303cea21c34f9ba9b0679192820d\">the AP<\/a> writes about Egypt\u2019s renewable energy ambitions.<\/p>\n<p><strong>The latest on Alaa Abdel Fattah:<\/strong> <a href=\"https:\/\/www.al-monitor.com\/originals\/2022\/11\/lawyer-egypt-hunger-striker-denied-access-2nd-time\">AFP<\/a> reports that the lawyer of jailed activist Alaa Abdel Fattah has been denied access to visit him for the second time in recent days. Abdel Fattah began a full <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/222da4b8-fa68-4280-8fae-4b5e76ce6d80\">hunger- and water-strike<\/a> last week, raising fears for his health. Meanwhile, Germany and the UN have expressed concerns about alleged surveillance and misconduct at COP27. The German Foreign Ministry called on Egyptian authorities to allow conference delegates to work under safe conditions after a number of attendees at the German pavilion alleged they had been filmed and photographed by unknown people after it hosted <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/93966252-81a2-48ac-9b4f-62c3a890ea51\">a press event<\/a> last week featuring Sanaa Seif, Abdel Fattah\u2019s sister. (<a href=\"https:\/\/www.independent.co.uk\/news\/egypt-ap-germany-foreign-ministry-cop27-b2224203.html\">Associated Press<\/a> | <a href=\"https:\/\/www.reuters.com\/business\/cop\/germany-warns-its-delegation-egyptian-spies-cop27-2022-11-13\/\">Reuters<\/a> | <a href=\"https:\/\/www.washingtonpost.com\/world\/hundreds-protest-for-climate-action-at-un-summit\/2022\/11\/12\/47479110-62a1-11ed-a131-e900e4a6336b_story.html\">Washington Post<\/a> | <a href=\"https:\/\/www.dw.com\/en\/germany-complains-to-egypt-over-cop27-snooping-report\/a-63743183\">Deutsche Welle<\/a>).<\/p>\n<p><strong>There are more two-star ratings:<\/strong> <a href=\"https:\/\/www.rfi.fr\/en\/international-news\/20221112-a-thirsty-cop27-climate-summit-plagued-by-glitches\">AFP<\/a> and <a href=\"https:\/\/www.bloomberg.com\/news\/articles\/2022-11-12\/egypt-s-cop27-climate-summit-marred-by-state-scrutiny-midnight-visits\">Bloomberg<\/a> are the latest outlets with pieces on attendees griping about \u201cscarce drinking water, USD 15 sandwiches and hotel price-gouging.\u201d<\/p>\n\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/alaa-abdel-fattah\/\">Alaa Abdel Fattah<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/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\/germany\/\">Germany<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/history\/\">History<\/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\/un\/\">UN<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                    <\/div>\n    <\/div>\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"577220\" 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=\"577220\">\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\/14\/turkish-industrial-giant-eyes-egypts-auto-sector\/\">\r\n                            Turkish industrial giant eyes Egypt\u2019s auto sector                        <\/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\/14\/turkish-industrial-giant-eyes-egypts-auto-sector\/\" 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\/14\/turkish-industrial-giant-eyes-egypts-auto-sector\/')\">\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\/14\/turkish-industrial-giant-eyes-egypts-auto-sector\/\">\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=Turkish industrial giant eyes Egypt\u2019s auto sector&url=https:\/\/enterpriseam.com\/egypt\/2022\/11\/14\/turkish-industrial-giant-eyes-egypts-auto-sector\/\">\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\/14\/turkish-industrial-giant-eyes-egypts-auto-sector\/&title=Turkish industrial giant eyes Egypt\u2019s auto sector\">\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=Turkish+industrial+giant+eyes+Egypt%E2%80%99s+auto+sector+https%3A%2F%2Fenterpriseam.com%2Fegypt%2F2022%2F11%2F14%2Fturkish-industrial-giant-eyes-egypts-auto-sector%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\/14\/turkish-industrial-giant-eyes-egypts-auto-sector\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-577220\" class=\"content-area-description single-story post-577220 post type-post status-publish format-standard hentry category-also-on-our-radar tag-also-on-our-radar tag-automotive tag-dabaa-nuclear-plant tag-enterpriseam tag-financial-regulatory-authority tag-ma-watch tag-south-korea tag-turkey tag-vodacom tag-vodafone-egypt wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<p><strong>M&A Watch:<\/strong> The Financial Regulatory Authority is examining a voluntary tender offer by Vodacom to acquire 0.05% of Vodafone Egypt for EUR 17.92 a share, it said in <a href=\"https:\/\/ent.news\/2022\/11\/Vodafon-vodacom-AR-PRL.pdf\">a statement (pdf)<\/a> yesterday. The transaction would see the South African subsidiary acquire 124,600 shares in Vodafone Egypt for almost EUR 2.5 mn.<\/p>\n<p><strong>Vodacom is in the process of acquiring Vodafone\u2019s majority stake in its Egypt unit:<\/strong> Earlier this year Vodafone Plc shareholders <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/b47597a0-70d6-4847-8152-a200afcf370b\">approved plans<\/a> to sell its 55% stake in Vodafone Egypt to the South African company. Vodacom was said in late spring to be in the process of <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/ddf581f3-3a73-4923-afbe-96ec2d087583\">raising money<\/a> to fund the transaction, which is yet to be approved by Egyptian regulators.<\/p>\n<p><strong>This Turkish company wants to invest in Egypt\u2019s auto sector:<\/strong> Turkey\u2019s largest industrial group, <a href=\"https:\/\/www.koc.com.tr\/en\">Ko\u00e7 Holding<\/a>, is considering investing in Egypt\u2019s automotive sector, the CEO of its subsidiary company, <a href=\"https:\/\/www.arcelikglobal.com\/en\/\">Ar\u00e7elik<\/a>, told Trade and Industry Minister Ahmed Samir during a meeting at COP27, the ministry said in <a href=\"https:\/\/www.facebook.com\/mift.media\/posts\/pfbid03D9nKFxf24Sx5G2Q5k7nCqTDrH3gt8ABYwMULWNPjDu3zFATcLSYaF6QUQ2G8QMdl\">a statement<\/a>. The company is interested in producing vehicles in Egypt and manufacturing electric-vehicle chargers, Hakan Bulgurlu told the minister.<\/p>\n<p><strong>Ar\u00e7elik is already investing more in Egypt:<\/strong> Ar\u00e7elik is the parent of retailer Beko, which has <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/c8f8bfb1-8c61-45de-8182-dc5fe24aa786\">spent USD 100 mn<\/a> to build a new factory in Tenth of Ramadan City that will produce household appliances.<\/p>\n<p><strong>Other things we\u2019re keeping an eye on this morning:<\/strong><\/p>\n<ul>\n<li>South Korea\u2019s <strong><a href=\"https:\/\/www.doosanenerbility.com\/en\">Doosan Enerbility<\/a><\/strong> was awarded a USD 1.2 bn contract from <strong>Korea Hydro and Nuclear Power (KHNP)<\/strong> to build a turbine island at the <strong>Dabaa nuclear plant<\/strong>. (<a href=\"https:\/\/www.doosanenerbility.com\/en\/about\/news_board_view?id=21000510&page=0&pageSize=9\">Company sta<\/a><a href=\"https:\/\/www.doosanenerbility.com\/en\/about\/news_board_view?id=21000510&page=0&pageSize=9\">teme<\/a><a href=\"https:\/\/www.doosanenerbility.com\/en\/about\/news_board_view?id=21000510&page=0&pageSize=9\">nt<\/a>)<\/li>\n<li>The <strong>Communications Ministry <\/strong>signed an agreement with <strong>Honeywell Egypt<\/strong> to install smart technology in government buildings. (<a href=\"https:\/\/www.facebook.com\/EgyptianCabinet\/posts\/pfbid02xh9rHfzbdt9nF7ejXLHQUt6YiBy71kmEDM8KLfMfXUnqGoJUrBiue9r4CdoJVitUl\">Cabinet statement<\/a>)<\/li>\n<li>Fawry subsidiary <strong>Fawry Microfinance<\/strong> has launched <strong>Tamweelak Fawry<\/strong>, an app for MSMEs to apply for loans. (<a href=\"https:\/\/ent.news\/2022\/11\/Fawry-Microfinance-Launches-Tamweelak-Fawry-Mobile-App.docx.pdf\">Company statement, pdf<\/a>)<\/li>\n<\/ul>\n\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/also-on-our-radar\/\">ALSO ON OUR RADAR<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/automotive\/\">automotive<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/dabaa-nuclear-plant\/\">Dabaa nuclear plant<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/financial-regulatory-authority\/\">Financial Regulatory Authority<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/ma-watch\/\">M&amp;A Watch<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/south-korea\/\">South Korea<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/turkey\/\">Turkey<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/vodacom\/\">Vodacom<\/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=\"577222\" 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\/14\/577222\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-577222\" class=\"content-area-description single-story post-577222 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>13-22 November (Sunday-Tuesday): <a href=\"https:\/\/www.ciff.org.eg\/\">Cairo International Film Festival (CIFF)<\/a>.<\/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 of Representatives is 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>Late November or early December: US and Russia to hold talks on resuming mutual nuclear inspections in 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 December (Saturday): The TriFactory\u2019s <a href=\"https:\/\/www.thetrifactory.com\/pyramidshalfmarathon\">Pyramids Half Marathon<\/a>.<\/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>December: Chinese President Xi Jinping <a href=\"https:\/\/www.reuters.com\/business\/cop\/trade-security-agenda-xi-visit-saudi-arabia-saudi-minister-2022-11-12\/\">visit<\/a>to Saudi Arabia<\/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 Arabia\u2019s Jamjoom Pharma to <a href=\"https:\/\/bit.ly\/3R7SGzP\">inaugurate its EGP 1 bn pharma factory<\/a> in El Obour.<\/p>\n<p>End of 2022: Decent Life first phase scheduled for completion.<\/p>\n<p>End of 2022: e-Aswaaq\u2019s tourism platform will complete the roll out of its ticketing and online booking portal across Egypt.<\/p>\n<p>2023: Egypt <a href=\"https:\/\/www.facebook.com\/EgyptianCabinet\/posts\/380561820780911\">will host<\/a> the Asian Infrastructure Investment Bank\u2019s Annual Meeting of the Board of Governors in 2023.<\/p>\n<p>1Q 2023: Adnoc Distribution\u2019s acquisition of 50% of TotalEnergies Egypt to close.<\/p>\n<p>1Q2023: Internal trade database to <a href=\"https:\/\/hapijournal.com\/?p=212185\">launch<\/a>.<\/p>\n\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n","protected":false},"excerpt":{"rendered":"","protected":false},"featured_media":577199,"menu_order":0,"template":"","categories":[],"tags":[],"class_list":["post-577198","issue","type-issue","status-publish","has-post-thumbnail","hentry","wpautop","entry"],"acf":{"mongo_id":"78976349-2677-4f66-9310-3105d7a94bf7","teaser":"","photo_url":"https:\/\/ent.news\/2022\/11\/212.jpg"},"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v27.1 (Yoast SEO v27.1.1) - https:\/\/yoast.com\/product\/yoast-seo-premium-wordpress\/ -->\n<title>Our Enterprise Climate X Forum will take place at the Grand Egyptian Museum - EnterpriseAM Egypt<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/enterpriseam.com\/egypt\/issues\/our-enterprise-climate-x-forum-will-take-place-at-the-grand-egyptian-museum\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Our Enterprise Climate X Forum will take place at the Grand Egyptian Museum\" \/>\n<meta property=\"og:url\" content=\"https:\/\/enterpriseam.com\/egypt\/issues\/our-enterprise-climate-x-forum-will-take-place-at-the-grand-egyptian-museum\/\" \/>\n<meta property=\"og:site_name\" content=\"EnterpriseAM Egypt\" \/>\n<meta property=\"article:modified_time\" content=\"2025-12-16T11:11:08+00:00\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:image\" content=\"https:\/\/i0.wp.com\/ent.news\/2022\/11\/212.jpg?fit=%2C&ssl=1\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"WebPage\",\"@id\":\"https:\/\/enterpriseam.com\/egypt\/issues\/our-enterprise-climate-x-forum-will-take-place-at-the-grand-egyptian-museum\/\",\"url\":\"https:\/\/enterpriseam.com\/egypt\/issues\/our-enterprise-climate-x-forum-will-take-place-at-the-grand-egyptian-museum\/\",\"name\":\"Our Enterprise Climate X Forum will take place at the Grand Egyptian Museum - EnterpriseAM Egypt\",\"isPartOf\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/#website\"},\"primaryImageOfPage\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/issues\/our-enterprise-climate-x-forum-will-take-place-at-the-grand-egyptian-museum\/#primaryimage\"},\"image\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/issues\/our-enterprise-climate-x-forum-will-take-place-at-the-grand-egyptian-museum\/#primaryimage\"},\"thumbnailUrl\":\"https:\/\/i0.wp.com\/ent.news\/2022\/11\/212.jpg?fit=%2C&ssl=1\",\"datePublished\":\"2022-11-14T04:00:24+00:00\",\"dateModified\":\"2025-12-16T11:11:08+00:00\",\"breadcrumb\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/issues\/our-enterprise-climate-x-forum-will-take-place-at-the-grand-egyptian-museum\/#breadcrumb\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\/\/enterpriseam.com\/egypt\/issues\/our-enterprise-climate-x-forum-will-take-place-at-the-grand-egyptian-museum\/\"]}]},{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/enterpriseam.com\/egypt\/issues\/our-enterprise-climate-x-forum-will-take-place-at-the-grand-egyptian-museum\/#primaryimage\",\"url\":\"https:\/\/i0.wp.com\/ent.news\/2022\/11\/212.jpg?fit=%2C&ssl=1\",\"contentUrl\":\"https:\/\/i0.wp.com\/ent.news\/2022\/11\/212.jpg?fit=%2C&ssl=1\"},{\"@type\":\"BreadcrumbList\",\"@id\":\"https:\/\/enterpriseam.com\/egypt\/issues\/our-enterprise-climate-x-forum-will-take-place-at-the-grand-egyptian-museum\/#breadcrumb\",\"itemListElement\":[{\"@type\":\"ListItem\",\"position\":1,\"name\":\"Home\",\"item\":\"https:\/\/enterpriseam.com\/egypt\/\"},{\"@type\":\"ListItem\",\"position\":2,\"name\":\"Issues\",\"item\":\"https:\/\/enterpriseam.com\/egypt\/AMarchives\/\"},{\"@type\":\"ListItem\",\"position\":3,\"name\":\"Our Enterprise Climate X Forum will take place at the Grand Egyptian Museum\"}]},{\"@type\":\"WebSite\",\"@id\":\"https:\/\/enterpriseam.com\/egypt\/#website\",\"url\":\"https:\/\/enterpriseam.com\/egypt\/\",\"name\":\"EnterpriseAM\",\"description\":\"The State of the Nation\",\"publisher\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/#organization\"},\"potentialAction\":[{\"@type\":\"SearchAction\",\"target\":{\"@type\":\"EntryPoint\",\"urlTemplate\":\"https:\/\/enterpriseam.com\/egypt\/?s={search_term_string}\"},\"query-input\":{\"@type\":\"PropertyValueSpecification\",\"valueRequired\":true,\"valueName\":\"search_term_string\"}}],\"inLanguage\":\"en-US\"},{\"@type\":\"Organization\",\"@id\":\"https:\/\/enterpriseam.com\/egypt\/#organization\",\"name\":\"EnterpriseAM\",\"url\":\"https:\/\/enterpriseam.com\/egypt\/\",\"logo\":{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/enterpriseam.com\/egypt\/#\/schema\/logo\/image\/\",\"url\":\"https:\/\/ent.news\/internal\/240894.svg\",\"contentUrl\":\"https:\/\/ent.news\/internal\/240894.svg\",\"caption\":\"EnterpriseAM\"},\"image\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/#\/schema\/logo\/image\/\"}}]}<\/script>\n<!-- \/ Yoast SEO Premium plugin. -->","yoast_head_json":{"title":"Our Enterprise Climate X Forum will take place at the Grand Egyptian Museum - EnterpriseAM Egypt","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/enterpriseam.com\/egypt\/issues\/our-enterprise-climate-x-forum-will-take-place-at-the-grand-egyptian-museum\/","og_locale":"en_US","og_type":"article","og_title":"Our Enterprise Climate X Forum will take place at the Grand Egyptian Museum","og_url":"https:\/\/enterpriseam.com\/egypt\/issues\/our-enterprise-climate-x-forum-will-take-place-at-the-grand-egyptian-museum\/","og_site_name":"EnterpriseAM Egypt","article_modified_time":"2025-12-16T11:11:08+00:00","twitter_card":"summary_large_image","twitter_image":"https:\/\/i0.wp.com\/ent.news\/2022\/11\/212.jpg?fit=%2C&ssl=1","schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"WebPage","@id":"https:\/\/enterpriseam.com\/egypt\/issues\/our-enterprise-climate-x-forum-will-take-place-at-the-grand-egyptian-museum\/","url":"https:\/\/enterpriseam.com\/egypt\/issues\/our-enterprise-climate-x-forum-will-take-place-at-the-grand-egyptian-museum\/","name":"Our Enterprise Climate X Forum will take place at the Grand Egyptian Museum - EnterpriseAM Egypt","isPartOf":{"@id":"https:\/\/enterpriseam.com\/egypt\/#website"},"primaryImageOfPage":{"@id":"https:\/\/enterpriseam.com\/egypt\/issues\/our-enterprise-climate-x-forum-will-take-place-at-the-grand-egyptian-museum\/#primaryimage"},"image":{"@id":"https:\/\/enterpriseam.com\/egypt\/issues\/our-enterprise-climate-x-forum-will-take-place-at-the-grand-egyptian-museum\/#primaryimage"},"thumbnailUrl":"https:\/\/i0.wp.com\/ent.news\/2022\/11\/212.jpg?fit=%2C&ssl=1","datePublished":"2022-11-14T04:00:24+00:00","dateModified":"2025-12-16T11:11:08+00:00","breadcrumb":{"@id":"https:\/\/enterpriseam.com\/egypt\/issues\/our-enterprise-climate-x-forum-will-take-place-at-the-grand-egyptian-museum\/#breadcrumb"},"inLanguage":"en-US","potentialAction":[{"@type":"ReadAction","target":["https:\/\/enterpriseam.com\/egypt\/issues\/our-enterprise-climate-x-forum-will-take-place-at-the-grand-egyptian-museum\/"]}]},{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/enterpriseam.com\/egypt\/issues\/our-enterprise-climate-x-forum-will-take-place-at-the-grand-egyptian-museum\/#primaryimage","url":"https:\/\/i0.wp.com\/ent.news\/2022\/11\/212.jpg?fit=%2C&ssl=1","contentUrl":"https:\/\/i0.wp.com\/ent.news\/2022\/11\/212.jpg?fit=%2C&ssl=1"},{"@type":"BreadcrumbList","@id":"https:\/\/enterpriseam.com\/egypt\/issues\/our-enterprise-climate-x-forum-will-take-place-at-the-grand-egyptian-museum\/#breadcrumb","itemListElement":[{"@type":"ListItem","position":1,"name":"Home","item":"https:\/\/enterpriseam.com\/egypt\/"},{"@type":"ListItem","position":2,"name":"Issues","item":"https:\/\/enterpriseam.com\/egypt\/AMarchives\/"},{"@type":"ListItem","position":3,"name":"Our Enterprise Climate X Forum will take place at the Grand Egyptian Museum"}]},{"@type":"WebSite","@id":"https:\/\/enterpriseam.com\/egypt\/#website","url":"https:\/\/enterpriseam.com\/egypt\/","name":"EnterpriseAM","description":"The State of the Nation","publisher":{"@id":"https:\/\/enterpriseam.com\/egypt\/#organization"},"potentialAction":[{"@type":"SearchAction","target":{"@type":"EntryPoint","urlTemplate":"https:\/\/enterpriseam.com\/egypt\/?s={search_term_string}"},"query-input":{"@type":"PropertyValueSpecification","valueRequired":true,"valueName":"search_term_string"}}],"inLanguage":"en-US"},{"@type":"Organization","@id":"https:\/\/enterpriseam.com\/egypt\/#organization","name":"EnterpriseAM","url":"https:\/\/enterpriseam.com\/egypt\/","logo":{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/enterpriseam.com\/egypt\/#\/schema\/logo\/image\/","url":"https:\/\/ent.news\/internal\/240894.svg","contentUrl":"https:\/\/ent.news\/internal\/240894.svg","caption":"EnterpriseAM"},"image":{"@id":"https:\/\/enterpriseam.com\/egypt\/#\/schema\/logo\/image\/"}}]}},"jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/issue\/577198","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/issue"}],"about":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/types\/issue"}],"version-history":[{"count":1,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/issue\/577198\/revisions"}],"predecessor-version":[{"id":577233,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/issue\/577198\/revisions\/577233"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/media\/577199"}],"wp:attachment":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/media?parent=577198"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/categories?post=577198"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/tags?post=577198"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}