{"id":577405,"date":"2022-11-22T04:05:50","date_gmt":"2022-11-22T04:05:50","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/?post_type=issue&#038;p=577405"},"modified":"2025-12-16T11:16:19","modified_gmt":"2025-12-16T11:16:19","slug":"the-states-massive-desalination-program-gets-started-investment-banking-drama","status":"publish","type":"issue","link":"https:\/\/enterpriseam.com\/egypt\/issues\/the-states-massive-desalination-program-gets-started-investment-banking-drama\/","title":{"rendered":"The state\u2019s massive desalination program gets started + investment banking drama"},"content":{"rendered":"<section id=\"577407\" 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=\"577407\">\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\/22\/this-morning-govt-in-no-hurry-to-restart-ipo-program-nafezas-air-freight-rollout-pushed-back-indefinitely\/\">\r\n                            THIS MORNING: Gov\u2019t in no hurry to restart IPO program + Nafeza\u2019s air freight rollout pushed back indefinitely                        <\/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\/22\/this-morning-govt-in-no-hurry-to-restart-ipo-program-nafezas-air-freight-rollout-pushed-back-indefinitely\/\" target=\"_blank\">\n                    Open in new tab                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/new-tab.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a href=\"#\" target=\"_blank\" onclick=\"event.preventDefault(); 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Cabinet spokesperson Nader Saad emphasized the ministers were closely monitoring economic and market conditions globally and locally.<\/p>\n<p><strong>REFRESHER<\/strong>- The government is looking at how and when to <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/341bd556-a758-49d4-9aa9-1852ae8a3d9f\">reboot its privatization program<\/a> with recent listing changes and a new <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/eaa81cae-e4e2-4c66-963d-b806c4ed812b\">pre-IPO fund<\/a> set up by the Sovereign Fund of Egypt in September. The fund will offer stakes in state-owned companies to strategic investors and sovereign funds ahead of listing them on the bourse.<\/p>\n<p><strong>Banque du Caire doesn\u2019t appear to be in a rush to restart its plans<\/strong>, last week gaining approval from the FRA to <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/e107adf1-0206-4eff-b9f5-6b0fdabc39b9\">push the deadline<\/a> for finishing IPO procedures to the end of 1Q 2023.<\/p>\n<p><strong>Conditions in the Egyptian financial markets have improved in recent weeks<\/strong> with the return of foreign investors following the central bank\u2019s decision to float the currency and the announcement of a staff-level agreement with the IMF for a new loan program at the end of last month. The benchmark EGX30 index has gained almost 18% since the end of October, putting it up 4.2% year-to-date. This is a stark reversal of fortunes from just four months ago when shares had fallen to their lowest level since November 2016.<\/p>\n<p><strong>GO DEEPER- EFG Hermes investment banking boss Mostafa Gad thinks there are <\/strong><strong><a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/96431341-1d12-4f5b-ae38-6047887bf679\">two(ish) ways for the state to kickstart the IPO program<\/a><\/strong> by taking a page from the playbook that the UAE has very successfully used to build one of the hottest IPO markets in the world right now.<\/p>\n<hr class=\"grey-line\" \/>\n<p><a id=\"tldr-story-05\" class=\"content-anchor\"><\/a> <strong>Nafeza rollout to air freight pushed \u201cuntil economic conditions <\/strong><strong>stabilize\u201d: <\/strong>The rollout of the Advance Customs Information (ACI) customs system to air freight has been pushed for a <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/51297e58-1b4a-4a5a-b432-b09924c7dba8\">second time<\/a> to give importers, customs brokers, shipping agents and overseas companies more time to get used to the system amid volatility in the global economy, the Finance Ministry <a href=\"https:\/\/bit.ly\/3UUJBNH\">said in a statement<\/a>. Use of the ACI for air freight was due to become compulsory on 1 January, having already been pushed back from an original October start date. The ministry will now extend the trial period until local and global conditions are stable, the ministry said.<\/p>\n<p><strong>ALSO- One of the world\u2019s oldest<\/strong><strong> still-used Jewish cemeteries reopened in Cairo on <\/strong><strong>Sunday <\/strong>after three years of restoration work supported by our friends at the US embassy. The Bassatine cemetery was restored with funding from the State Department, and US Charge d\u2019affaires David Rubinstein was on hand for the event. <a href=\"https:\/\/eg.usembassy.gov\/united-states-preserves-egyptian-history-in-bassatine\/\">There\u2019s plenty more detail in this statement from the folks at the embassy.<\/a> More of this, please.<\/p>\n<p><strong>HAPPENING TODAY-<\/strong><\/p>\n<p><strong>It\u2019s day 3 of the World Cup:<\/strong> Teams in groups C and D play their first games of the tournament today, with two of the favorites in action (all times CLT):<\/p>\n<ul>\n<li>Argentina v Saudi Arabia (12pm)<\/li>\n<li>Denmark v Tunisia (3pm)<\/li>\n<li>Mexico v Poland (6pm)<\/li>\n<li>France v Australia (9pm)<\/li>\n<\/ul>\n<p><strong>The tournament came to life yesterday<\/strong> after a tedious opener on Sunday, with a flurry of goals \u2060\u2014 and plenty of controversies \u2060\u2014 as teams in groups A and B played their opening games. Iran\u2019s 6-2 thrashing by England made the day\u2019s headlines (as much for the number of goals as for the political undercurrents), while a closely fought game between Wales and the US ended 1-1. Senegal and the Netherlands closed out Group A in a game that saw the \u201c<a href=\"https:\/\/www.newstatesman.com\/culture\/sport\/2015\/02\/life-and-times-iron-tulip-who-louis-van-gaal\">Iron Tulip\u2019s<\/a>\u201d Dutchmen grab two late goals against the west African side that struggled without their injured talisman, Sadio Mane.<\/p>\n<p><strong>After only four games played, there are already plenty of talking points<\/strong>, many of them not football-related:<\/p>\n<ul>\n<li><strong>Armbanned:<\/strong> Fifa\u2019s decision to ban team captains wearing the OneLove anti-discrimination armbands is not being received warmly by European teams. Amid a wave of Western criticism of the tournament\u2019s hosts, football\u2019s governing body moved to prevent political messaging from making it onto the pitch, threatening to book players who wore the rainbow armband. (<a href=\"https:\/\/www.espn.co.uk\/football\/fifa-world-cup\/story\/4808018\/world-cup-teams-abandon-onelove-armband-amid-fifa-row\">ESPN<\/a>)<\/li>\n<li><strong>To sing or not to sing:<\/strong> Much is being made in the media by the decision by the Iranian players not to sing the national anthem, which is being interpreted as a show of support for anti-government protests. (<a href=\"https:\/\/www.bbc.co.uk\/sport\/football\/63706487\">BBC<\/a>)<\/li>\n<li><strong>Fifa\u2019s concussion rules are in the spotlight<\/strong> after Iranian goalkeeper Ali Beiranvand was allowed to continue playing despite suffering a head injury. Clearly unable to continue, the 30-year-old was eventually stretchered off the field. (<a href=\"https:\/\/theathletic.com\/3919258\/2022\/11\/21\/fifa-iran-beiranvand-england-concussion-protocol\/\">The Athletic<\/a>)<\/li>\n<li><strong>VAR:<\/strong> Where a football game is played, there will be complaints about <a href=\"https:\/\/www.sportingnews.com\/in\/soccer\/news\/what-is-var-football-video-review-replays-referees-soccer\/yx2c27klj5clvijx3bunggyp\">VAR<\/a>. <a href=\"https:\/\/www.independent.co.uk\/sport\/football\/world-cup\/ecuador-goal-qatar-disallowed-offside-b2229175.html\">Ecuador\u2019s<\/a><a href=\"https:\/\/www.independent.co.uk\/sport\/football\/world-cup\/ecuador-goal-qatar-disallowed-offside-b2229175.html\">disallowed goal<\/a> against Qatar and a couple of <a href=\"https:\/\/www.espn.com\/soccer\/fifa-world-cup\/story\/4807433\/var-review-why-iran-got-a-penalty-but-harry-maguire-was-not\">odd penalty decisions<\/a> in yesterday\u2019s England-Iran game stirred controversy.<\/li>\n<\/ul>\n<p><strong>AND- Egypt may not be in Qatar, but our balls are:<\/strong> A chunk of the official match balls being kicked around in Qatar are proudly made at home by Forward Egypt, according to a <a href=\"http:\/\/bit.ly\/3tMeIPB\">statement<\/a> by the cabinet.<\/p>\n<p><strong>MEANWHILE-<\/strong><\/p>\n<p><strong>In the House today:<\/strong> Tourism Minister Ahmed Eissa will answer questions from MPs on the ministry\u2019s tourism promotion program and its plans to restore antiquities.<\/p>\n<p><strong>The two-day <\/strong><strong><a href=\"http:\/\/thefingerprintsummit.org\/#\/about\">Fingerprint Summit<\/a><\/strong><strong> starts today<\/strong> at the Nile Ritz Carlton Hotel. Speakers include Finance Minister Mohamed Maait and Planning Minister Hala El Said.<\/p>\n<p><strong>THE BIG STORY ABROAD-<\/strong><\/p>\n<p><strong>The crypto world is continuing to reel from the demise of FTX:<\/strong><\/p>\n<ul>\n<li><strong>Shares in Coinbase are tanking:<\/strong> Coinbase saw its share price fall more than 8% yesterday, continuing a sell-off that has seen the crypto exchange hit its lowest level since it IPOed in April 2021. The company\u2019s shares have tumbled more than 25% during the past four trading sessions as fears of contagion from the FTX collapse continue to stalk the markets. (<a href=\"https:\/\/www.cnbc.com\/2022\/11\/21\/coinbase-shares-drop-as-bitcoin-slides-ftx-related-concerns-mount.html\">CNBC<\/a>)<\/li>\n<li><strong>Genesis is warning of bankruptcy:<\/strong> Crypto investment bank Genesis has said it could file for bankruptcy if it doesn\u2019t secure fresh funds for its lending unit. The company needs to raise at least USD 1 bn to prevent it from going under, but several days of talks have yet to bear fruit. (<a href=\"https:\/\/www.bloomberg.com\/news\/articles\/2022-11-21\/crypto-firm-genesis-warns-of-possible-bankruptcy-without-funding?sref=mmeFTDW1\">Bloomberg<\/a>)<\/li>\n<\/ul>\n<p><strong>Never run promotion for shady crypto bros:<\/strong> The Golden State Warriors are the latest to learn this lesson the hard way after they were hit by a class-action lawsuit from an FTX customer alleging they had fraudulently promoted the now-bankrupt crypto exchange, according to <a href=\"https:\/\/www.reuters.com\/legal\/nba-champions-golden-state-warriors-are-sued-over-ftx-collapse-2022-11-21\/\">Reuters<\/a>. The NBA champions follow NFL quarterback Tom Brady and tennis star Naomi Osaka to face legal issues for their ties to FTX founder Sam Bankman-Fried, who \u2018earned\u2019 his USD bns and gained mainstream legitimacy by big-time speculation in the crypto markets. SBF and others at the company now face a wave of lawsuits for allegedly misusing customer funds.<\/p>\n<p class=\"web-image\"><a href=\"https:\/\/climatexforum.enterprise.press\/index.html#contactUs\"><img data-recalc-dims=\"1\" decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2022\/11\/Registration-web-E.jpg?ssl=1\" alt=\"enterprise\" \/><\/a><\/p>\n<p><strong>Are you a C-suite executive or investor and want to attend our <\/strong><strong><a href=\"https:\/\/climatexforum.enterprise.press\/index.html#aboutSection\">Enterprise Climate X Forum<\/a><\/strong><strong>? <\/strong>Drop us a note on <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>\n<p>The event takes place on Tuesday, 6 December 2022 at the <strong>Grand Egyptian Museum.<\/strong><\/p>\n<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<\/p><\/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    <\/div>\n<\/p><\/div>\n<\/div>\n<p><strong>CIRCLE YOUR CALENDAR-<\/strong><\/p>\n<p><strong>The US and Russia will hold nuclear talks in Cairo next week: <\/strong>Washington and Moscow will discuss <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/d75c978f-3cad-43f3-ac0d-44e5d5ab2b0b\">resuming mutual nuclear inspections<\/a> during week-long talks from Tuesday, 29 November through to 6 December, Russian Deputy Foreign Minister Sergei Ryabkov said, according to <a href=\"https:\/\/edition.cnn.com\/2022\/11\/18\/politics\/new-start-talks-cairo-2022\/index.html\">CNN<\/a>. Ryabkov last week downplayed expectations of reaching an agreement in the Cairo talks, which will look into re-implementing the<a href=\"https:\/\/www.state.gov\/new-start\/\">New START Treaty<\/a> that allows Washington and Moscow to inspect each other\u2019s weapons stocks. Inspections came to a pause in 2020 thanks to the pandemic.<\/p>\n<p><strong>The deadline to apply for the <\/strong><strong><a href=\"https:\/\/www.chicagobooth.edu\/executiveeducation\/programs\/management\/executive-program-el-gouna?fbclid=IwAR2P3G51SElb7ZQin8CZ8hE1o-Qi5d0_p5srOo0ADNI9a1v131AkMFQfmEE\">Chicago Booth Executive Program in El Gouna<\/a><\/strong><strong> is <\/strong><strong>Sunday, 27 November.<\/strong> The two-week program, which kicks off in March 2023, offers executives from Egyptian public and private sector the skills to help them \u201cbecome a better leader for your organization and support Egypt\u2019s growth in the years ahead.\u201d<\/p>\n<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<p class=\"web-image\"><img data-recalc-dims=\"1\" decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2021\/3\/INFINITY-Top-banner-EN-1600x675-v2-02.png?ssl=1\" alt=\"enterprise\" \/><\/p>\n<p><strong>*** It\u2019s Going Green day \u2014 your weekly briefing of all things green in Egypt:<\/strong> Enterprise\u2019s green economy vertical focuses each Tuesday on the business of renewable energy and sustainable practices in Egypt, everything from solar and wind energy through to water, waste management, sustainable building practices and how you can make your business greener, whatever the sector.<\/p>\n<p><strong>In today\u2019s issue: <\/strong>We take a closer look at the Sharm El Sheikh Guidebook for Just Financing, the landmark climate finance roadmap for developing countries launched by the International Cooperation Ministry during COP27.<\/p>\n<p><em>CORRECTED ON 28 NOVEMBER<\/em><br \/>\n<em>A previous version of the story had incorrectly concluded that the cabinet would likely delay the state privatization program. The statement from Cabinet Spokesperson Nader Saad had said only that ministers were closely monitoring economic and market conditions globally and locally. The statement did not mention a delay in the program.\u00a0<\/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\/aci\/\">ACI<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/cryptocurrency\/\">cryptocurrency<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/finance-ministry\/\">Finance Ministry<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/ftx\/\">FTX<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/ipo-watch\/\">IPO watch<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/nafeza\/\">Nafeza<\/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=\"577408\" 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=\"577408\">\r\n            \r\n            <div class=\"story__body\">\r\n\r\n                <a href=\"https:\/\/enterpriseam.com\/egypt\/2022\/11\/22\/577408\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-577408\" class=\"content-area-description single-story post-577408 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:\/\/somabay.com\/'><img decoding=\"async\" data-recalc-dims=\"1\" src=\"https:\/\/i0.wp.com\/ent.news\/2022\/11\/Somabay-Stayr-1600px.jpg?ssl=1\" alt='enterprise'><\/a><\/p>\n<p>Enjoy renting with home comfort, privacy, exclusive privileges, and tailor-made packages for an unforgettable guest experience. A signature collection of handpicked serviced villas, chalets, apartments, and studios to transform your vacation into an exceptional experience, and to discover the magic of Somabay in luxury bliss. For booking inquiries, contact us by phone at +20155 600 5693, by email at <a href=\"mailto:info@stayr.somabay.com\">info@stayr.somabay.com<\/a>, or through our website <a href=\"http:\/\/holidays.somabay.com\/stayr\/\">holidays.somabay.com<\/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=\"577409\" 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=\"577409\">\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\">Infrastructure<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2022\/11\/22\/govt-to-start-receiving-offers-on-water-desalination-projects-on-thursday\/\">\r\n                            Gov\u2019t to start receiving offers on water desalination projects on Thursday                        <\/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\/22\/govt-to-start-receiving-offers-on-water-desalination-projects-on-thursday\/\" target=\"_blank\">\n                    Open in new tab                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/new-tab.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a href=\"#\" target=\"_blank\" onclick=\"event.preventDefault(); 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Both local and international infrastructure operators and investors are expected to apply<\/p>\n<p><strong>What\u2019s the program? <\/strong>Back in April, <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/ff082112-e478-487b-a0c2-e199f2c1acad\">we reported<\/a> that the state plans to to offer 19 desalination projects to investors with a combined capacity of 3.3 mn cubic meters per day. The construction cost at the time was estimated at EGP 72 bn, Assem Shukr, the vice president of the Holding Company for Drinking Water and Sanitation, told us. <strong>Expect the price tag to have ballooned: <\/strong>Shukr was speaking immediately after the March float of the EGP, and we\u2019ve had a second devaluation (and plenty of additional inflation) since then.<\/p>\n<p><strong>The plan has now changed, but we\u2019re not exactly sure how: <\/strong>One of the sources told us that the government has updated the plan but wouldn\u2019t disclose any of the key details about the projects, how many will be on offer, or over what time frame they could be built.<\/p>\n<p><strong>What we do know:<\/strong> Project developers will be bidding to build, operate and manage the plants, which will be powered by renewable energy, one of the sources said, adding that the government will prioritize companies that help localize the manufacturing of desalination equipment. The plants will be located on the Red Sea and Mediterranean coasts, including at El Hammam in Matrouh Governorate and El Quseir near Safaga.<\/p>\n<p><strong>Expect the usual suspects to show lots of interest:<\/strong> Hassan Allam Holding will participate, as will a <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/44a539f3-c42a-4fab-a71f-57fb82a7b44f\">consortium<\/a> made up of Metito Holdings, Scatec, and Orascom Construction. Acwa Power, Al Nowais and Schneider Electric have also reportedly <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/2b75b641-bb5e-436c-940d-99f0175103c7\">shown interest<\/a> in bidding.<\/p>\n<p><strong>The government has been saying it will bring private-sector investors for more than three <\/strong><strong>years<\/strong> after launching a <a href=\"https:\/\/enterprise.press\/stories\/2019\/08\/05\/govt-plans-for-new-desalination-treatment-plants-unveiled-as-part-of-water-conservation-strategy\/\">water conservation strategy<\/a> back in 2019. This initial plan envisioned setting up 39 plants with a capacity to process a combined 1.4 mn cbm\/d. This was made more ambitious the following year when the Housing Ministry <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/64f6386d-108e-41cd-872e-ace09bcbf196\">unveiled a 30-year, five-phase plan<\/a> that would provide another 6.4 mn cbm\/d of potable water by 2050. Egypt currently has a total desalination capacity of less than 1 mn cbm\/d.<\/p>\n<p><strong>A second phase already planned<\/strong>: The second phase of the plan would be offered next year, with the government set to determine the number of plants to be offered in phase two once it gets a handle on how the first phase rolls out in the coming months.<\/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\/infrastructure\/\">infrastructure<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/investment-watch\/\">investment watch<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/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=\"577411\" 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=\"577411\">\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\">FINANCIAL SERVICES<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2022\/11\/22\/the-finance-industry-should-be-cheering-the-upheaval-at-beltone\/\">\r\n                            The finance industry should be cheering the \u2018upheaval\u2019 at Beltone                        <\/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\/22\/the-finance-industry-should-be-cheering-the-upheaval-at-beltone\/\" target=\"_blank\">\n                    Open in new tab                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/new-tab.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a href=\"#\" target=\"_blank\" onclick=\"event.preventDefault(); 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The newspaper claims staff at Beltone\u2019s SME unit handed in their notices after new Beltone Financial owner Chimera Investment kicked off a restructuring plan. Neither company responded to Asharq\u2019s request for comment.<\/p>\n<p><strong>Other departures:<\/strong> There has also been upheaval at Beltone\u2019s consumer financing arm BelCash, whose managing director resigned two weeks ago, and at the parent company, whose HR director and IT chiefs have both left, according to one of the sources.<\/p>\n<p><strong>Refresher:<\/strong> Abu Dhabi-based Chimera Investments <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/40303139-6bd0-4c73-a30a-57bb74e74a45\">acquired a 56% stake<\/a> in Beltone Financial in October, replacing Orascom Financial Holding as the company\u2019s controlling shareholder. The new owners went ahead with a boardroom shake-up a few weeks later, <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/44f91721-ade2-4520-8b3c-37c5c702c338\">replacing the CEO<\/a> and the chairman, and appointing two new non-executive board members.<\/p>\n<p><strong>See it all in context: <\/strong>\u201cBack in the day\u201d there was a three-way investment banking horse race between EFG Hermes, CI Capital, and Beltone \u2014 they fought tooth and nail for AUM, IPOs, M&A mandates, brokerage market share, and research supremacy.<\/p>\n<p><strong>What we have now is a duopoly: <\/strong>EFG Hermes has since emerged as a major global frontier and emerging markets player \u2014 and pioneered the NBFS strategy now popular across the industry here in Egypt. CI Capital has become a formidable national player and lined up new firepower through its tie-up with Banque Misr as it now looks to go regional. Soon after the 2011 revolution, Beltone lost its storied investment banking team (which walked out to form M&A shop <a href=\"https:\/\/enterprise.press\/issues\/2016\/03\/22\/the-great-investment-banking-shake-out-of-2016-continues-arqaam-acquires-akanar-while-naeem-and-mubasher-eye-at-brokerage\/\">Akanar Partners<\/a> after a sale to Goldman Sachs fell through). It then drifted under previous ownership, losing market share and talent, particularly after a <a href=\"https:\/\/enterprise.press\/stories\/2018\/11\/14\/heres-what-egypts-market-regulator-claims-beltone-investment-banking-did-wrong\/\">bungled 2018 IPO<\/a>.<\/p>\n<p><strong>Expect more upheaval \u2014 and that\u2019s frankly a good thing: <\/strong>Beltone has a storied name, but the company needs restructuring, a clear vision, and a reason for being if it is to challenge today\u2019s duopoly. Chimera and new Beltone Financial CEO Dalia Khorshid will be looking to bring in hard chargers with a mission to remake the company, suggesting it isn\u2019t unreasonable to expect a bit more drama before a stable (and hopefully ambitious) team takes shape to write the company\u2019s next chapter.<\/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\/belcash\/\">Belcash<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/beltone-financial\/\">Beltone Financial<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/chimera-investments\/\">Chimera Investments<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/ci-capital\/\">CI Capital<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/efg-hermes\/\">EFG Hermes<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/financial-services\/\">financial services<\/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                    <\/div>\n    <\/div>\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"577413\" 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=\"577413\">\r\n            \r\n                <div class=\"issue-story-header text-center\">\r\n                    <div class=\"index-number\">4<\/div>\r\n\r\n                    <p class=\"f-graphik\">M&amp;A WATCH<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2022\/11\/22\/actis-backed-honoris-acquisition-of-merit-university-is-off\/\">\r\n                            Actis-backed Honoris\u2019 acquisition of Merit University is off                        <\/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\/22\/actis-backed-honoris-acquisition-of-merit-university-is-off\/\" 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\/22\/actis-backed-honoris-acquisition-of-merit-university-is-off\/')\">\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\/22\/actis-backed-honoris-acquisition-of-merit-university-is-off\/\">\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=Actis-backed Honoris\u2019 acquisition of Merit University is off&url=https:\/\/enterpriseam.com\/egypt\/2022\/11\/22\/actis-backed-honoris-acquisition-of-merit-university-is-off\/\">\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\/22\/actis-backed-honoris-acquisition-of-merit-university-is-off\/&title=Actis-backed Honoris\u2019 acquisition of Merit University is off\">\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=Actis-backed+Honoris%E2%80%99+acquisition+of+Merit+University+is+off+https%3A%2F%2Fenterpriseam.com%2Fegypt%2F2022%2F11%2F22%2Factis-backed-honoris-acquisition-of-merit-university-is-off%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\/22\/actis-backed-honoris-acquisition-of-merit-university-is-off\/\">\r\n                    <div class=\"photo photo--above\">\r\n                        <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2022\/11\/335.png?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"577414\" data-permalink=\"https:\/\/enterpriseam.com\/egypt\/2022\/11\/22\/actis-backed-honoris-acquisition-of-merit-university-is-off\/335-png\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2022\/11\/335.png?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"335.png\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2022\/11\/335.png?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2022\/11\/335.png?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-577413\" class=\"content-area-description single-story post-577413 post type-post status-publish format-standard has-post-thumbnail hentry category-ma-watch tag-actis tag-education tag-enterpriseam tag-honoris-united-universities tag-ma-watch wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<p><a class=\"content-anchor\" id=\"tldr-story-01\"><\/a> <strong>Honoris won\u2019t be acquiring Merit University after all:<\/strong> Actis-backed <a href=\"https:\/\/honoris.net\/\">Honoris<\/a><a href=\"https:\/\/honoris.net\/\">United Universities<\/a>\u2019 acquisition of <a href=\"https:\/\/www.merit.edu.eg\/\">Merit University<\/a> in New Sohag City has fallen through after the two sides failed to reach an agreement, Seddik Afifi, chairman of Merit University\u2019s board of trustees, told <a href=\"https:\/\/bit.ly\/3tMfCvj\">Al Mal<\/a>. Afifi confirmed the news when we spoke with him yesterday afternoon. The pan-African private higher education operator last year <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/fc453b39-a1d9-4967-8f81-fb5280b47582\">signed final agreements<\/a> that would have seen it acquire a controlling stake in Merit, but the two have now walked away from the transaction, Al Mal reports. Afifi declined to disclose specific reasons why the transaction fell through, though the newspaper notes that the final agreement was contingent on getting permission from the Higher Education Ministry.<\/p>\n<p><strong>Merit is open to new suitors\u2026 <\/strong>The university is open to new investors, Afifi said.<\/p>\n<p><strong>\u2026and is investing in new faculties: <\/strong>The university is also investing some EGP 2 bn to launch three new faculties next year, Afifi told us when we reached out yesterday, adding that the company doesn\u2019t see the need to take on debt to finance the investment.<\/p>\n<p><strong>Who are Honoris? <\/strong>Honoris owns and operates 70 campuses and learning centers in 10 African countries and 32 cities catering to around 71k students. It operates 15 institutions ranging from multidisciplinary universities, to specialized schools, to technical and vocational institutes. It is Actis\u2019 main education platform in Africa.<\/p>\n<p><strong>Advisors:<\/strong> Compass Capital acted as advisor to Merit, with Al Tamimi & Co providing counsel on the sell-side. Honoris was represented locally by Matouk Bassiouny & Hennawy, while Clifford Chance acted as international counsel, with PwC having conducted financial and tax due diligence for Honoris.<\/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\/actis\/\">Actis<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/education\/\">Education<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/honoris-united-universities\/\">Honoris United Universities<\/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                    <\/div>\n    <\/div>\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"577415\" 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=\"577415\">\r\n            \r\n                <div class=\"issue-story-header text-center\">\r\n                    <div class=\"index-number\">5<\/div>\r\n\r\n                    <p class=\"f-graphik\">Startup watch<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2022\/11\/22\/local-pharma-startup-closes-usd-8-mn-round-klivvr-gets-cbe-nod\/\">\r\n                            Local pharma startup closes USD 8 mn round + Klivvr gets CBE nod                        <\/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\/22\/local-pharma-startup-closes-usd-8-mn-round-klivvr-gets-cbe-nod\/\" 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\/22\/local-pharma-startup-closes-usd-8-mn-round-klivvr-gets-cbe-nod\/')\">\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\/22\/local-pharma-startup-closes-usd-8-mn-round-klivvr-gets-cbe-nod\/\">\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=Local pharma startup closes USD 8 mn round + Klivvr gets CBE nod&url=https:\/\/enterpriseam.com\/egypt\/2022\/11\/22\/local-pharma-startup-closes-usd-8-mn-round-klivvr-gets-cbe-nod\/\">\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\/22\/local-pharma-startup-closes-usd-8-mn-round-klivvr-gets-cbe-nod\/&title=Local pharma startup closes USD 8 mn round + Klivvr gets CBE nod\">\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=Local+pharma+startup+closes+USD+8+mn+round+%2B+Klivvr+gets+CBE+nod+https%3A%2F%2Fenterpriseam.com%2Fegypt%2F2022%2F11%2F22%2Flocal-pharma-startup-closes-usd-8-mn-round-klivvr-gets-cbe-nod%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\/22\/local-pharma-startup-closes-usd-8-mn-round-klivvr-gets-cbe-nod\/\">\r\n                    <div class=\"photo photo--above\">\r\n                        <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2022\/11\/338.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"577416\" data-permalink=\"https:\/\/enterpriseam.com\/egypt\/2022\/11\/22\/local-pharma-startup-closes-usd-8-mn-round-klivvr-gets-cbe-nod\/338-jpg-8\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2022\/11\/338.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"338.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2022\/11\/338.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2022\/11\/338.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-577415\" class=\"content-area-description single-story post-577415 post type-post status-publish format-standard has-post-thumbnail hentry category-startup-watch tag-edtech tag-education tag-edventures tag-enterpriseam tag-fintech tag-grinta tag-jeel tag-klivvr tag-orascom-financial-holding tag-pharma tag-startup-watch wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<p><a class=\"content-anchor\" id=\"tldr-story-07\"><\/a> <strong>Local B2B pharma platform <\/strong><strong><a href=\"https:\/\/grinta.ai\/home\">Grinta<\/a><\/strong><strong> has closed a USD 8 mn seed round <\/strong>led by MENA-focused VC <a href=\"https:\/\/www.linkedin.com\/company\/raedvc\/\">Raed Ventures<\/a> and local fintech fund <a href=\"https:\/\/www.linkedin.com\/company\/ncludefund\/?trk=public_profile_experience-item_profile-section-card_subtitle-click&originalSubdomain=eg\">Nclude<\/a>, with participation from <a href=\"https:\/\/endeavor.org\/\">Endeavor Catalyst<\/a> and <a href=\"https:\/\/500.co\/\">500 Global<\/a>, it said in a <a href=\"https:\/\/ent.news\/2022\/11\/Grinta-Press-release-final-ENG-.pdf\">press release (pdf)<\/a> yesterday. The capital raised will help the company expand locally, growing its team and scaling its platform.<\/p>\n<p><strong>About Grinta: <\/strong>Founded last year by Mohamed Azab (<a href=\"https:\/\/www.linkedin.com\/in\/mohamed-azab-114a8417\/\">LinkedIn<\/a>), Hamza Tag (<a href=\"https:\/\/www.linkedin.com\/in\/hamza-tag-a8751579\/\">LinkedIn<\/a>), Yosra Badr (<a href=\"https:\/\/www.linkedin.com\/in\/yosra-badr-95a0354a\/\">LinkedIn<\/a>) and Ali Youssef (<a href=\"https:\/\/www.linkedin.com\/in\/ali-youssef-a1aab929\/\">LinkedIn<\/a>), the company\u2019s one-stop platform allows pharma retailers to order inventory as well as providing fulfillment, planning, and financing services. Over the past year, Grinta has acquired local competitor <a href=\"https:\/\/www.linkedin.com\/company\/ph-store\/?originalSubdomain=eg\">PH Store<\/a><a href=\"https:\/\/www.linkedin.com\/company\/ph-store\/?originalSubdomain=eg\"><\/a>and software development company EME.<\/p>\n<p><strong>The numbers: <\/strong>The company currently serves over 14k pharmacies in seven governorates with over 20k SKUs, and has so far delivered over 100k orders, Azab said.<\/p>\n<p><strong>EDVENTURES TARGETS FRESH INVESTMENTS-<\/strong><\/p>\n<p><strong>Education-focused VC EdVentures is looking to deploy USD 1.1 mn in <\/strong><strong>Egypt-born<\/strong> <strong>preschool<\/strong> <strong><a href=\"https:\/\/jeelapp.com\/EN\/\">education platform Jeel<\/a><\/strong>, it said in <a href=\"https:\/\/ent.news\/2022\/11\/EdVentures-Eng_Regional-PRL.pdf\">a statement (pdf)<\/a> yesterday. EdVentures is Nahdet Misr for Publishing\u2019s VC arm. \u201cMoving forward, EdVentures is seeking more investments in edtech startups, while expanding globally,\u201d said Dalia Ibrahim, Nahdet Misr CEO and founder of EdVentures.<\/p>\n<p><strong>This would be the VC\u2019s fifth investment in 2022<\/strong>, by our count. EdVentures made a six-figure USD investment in student career advising startup OBM Education <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/ea2b832c-90f3-41fb-85ed-8a635660ea38\">in August<\/a>, and opened the year by investing in <a href=\"https:\/\/www.obmeg.com\/\">OBM Education<\/a>, <a href=\"https:\/\/superfny.com\/\">Super Fny<\/a>, and <a href=\"https:\/\/www.facebook.com\/crafty.workshop.arab\/\">Crafty Workshop<\/a> alongside the Academy of Scientific Research and Technology. It also participated in Sprints\u2019 <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/93d91f6b-9241-4be0-8e47-4e8c8a6dfa0c\">USD 1.2 mn series A round<\/a> which closed in April.<\/p>\n<p><strong>EdVentures portfolio includes<\/strong> <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/93d91f6b-9241-4be0-8e47-4e8c8a6dfa0c\">online training provider Sprints<\/a> as well as <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/b29c8c7c-cb1b-4536-b132-4a0b9edcd20b\">Akhdar, Career180,<\/a><a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/b29c8c7c-cb1b-4536-b132-4a0b9edcd20b\">OTO Courses, and iSchool<\/a>.<\/p>\n<p><strong>Egyptian edtech is doing well:<\/strong> Egypt has the largest chunk of the region\u2019s growing edtech sector, which is now home to 1.5k edtech companies, according to <a href=\"https:\/\/www.holoniq.com\/notes\/2022-middle-east-north-africa-edtech-50\">data from HolonIQ<\/a>. Almost half of the education technology based in the region is represented by workforce and corporate training innovations, followed by K-12 and higher education. Pre-K\u2019s contribution is very limited to the overall edtech sector.<\/p>\n<p><strong>KLIVVR GETS THE ALL-CLEAR-<\/strong><\/p>\n<p><strong>OFH\u2019s Klivvr payment card gets CBE approval: <\/strong>Orascom Financial Holding\u2019s (OFH) fintech arm <a href=\"https:\/\/www.klivvr.com\/\">Klivvr<\/a> has received its license from the Central Bank of Egypt to launch its mobile app and payment cards, the company <a href=\"https:\/\/www.linkedin.com\/feed\/update\/urn:li:activity:7000384300852383745\/\">announced<\/a> yesterday.<\/p>\n<p><strong>When\u2019s the launch?<\/strong> OFH CEO Nils Bachtler declined to commit to a timeframe when we asked yesterday, saying only that the company expects to launch them soon.<\/p>\n<p><strong>Klivvr\u2019s card and payment app will allow users to make online and in-store purchases<\/strong>, withdraw cash from local ATMs, and receive payments. It\u2019s launching its services in partnership with Arab African International Bank, Visa and <a href=\"https:\/\/www.mdp-eg.com\/\">Misr Digital Payments<\/a>.<\/p>\n<p><strong>Background: <\/strong>We\u2019ve seen a steady stream of new prepaid cards hit the local market this year, with the central bank recently approving cards from Banque du Caire, <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/fef0998d-6737-4708-a4ed-777c791ea946\">Telda<\/a>, ADIB and <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/3d67b6a4-6a2f-4645-b7a5-3f553e013b15\">Khazna<\/a>.<\/p>\n<p><strong>MORE STARTUP NEWS-<\/strong><\/p>\n<ul>\n<li>Cashback services startup <strong><a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/87676c31-3ee7-49e0-afbf-f4332e3fd47d\">WaffarX<\/a><\/strong> partnered with <strong>CIB <\/strong>to offer incentives and other perks to CIB customers who shop through its new <strong>joint app<\/strong>. (<a href=\"https:\/\/www.zawya.com\/en\/business\/retail-and-consumer\/egypt-waffarx-collaborates-with-cib-to-boost-cash-back-through-joint-app-tc1oiot5\">Zawya<\/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\/edtech\/\">edtech<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/education\/\">Education<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/edventures\/\">EdVentures<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/fintech\/\">Fintech<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/grinta\/\">Grinta<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/jeel\/\">Jeel<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/klivvr\/\">Klivvr<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/orascom-financial-holding\/\">Orascom Financial Holding<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/pharma\/\">pharma<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/startup-watch\/\">Startup watch<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                    <\/div>\n    <\/div>\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"577417\" 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=\"577417\">\r\n            \r\n                <div class=\"issue-story-header text-center\">\r\n                    <div class=\"index-number\">6<\/div>\r\n\r\n                    <p class=\"f-graphik\">LEGISLATION WATCH<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2022\/11\/22\/house-gives-preliminary-approval-to-tighter-controls-on-telecom-equipment\/\">\r\n                            House gives preliminary approval to tighter controls on telecom equipment                        <\/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\/22\/house-gives-preliminary-approval-to-tighter-controls-on-telecom-equipment\/\" target=\"_blank\">\n                    Open in new tab                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/new-tab.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a href=\"#\" target=\"_blank\" onclick=\"event.preventDefault(); 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Amendments to the 2003 Telecommunications Act <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/ddca62b3-07a3-48e2-b026-0e49792dffb3\">approved by the Senate<\/a> last month would ban the possession, use, manufacture of any telecom equipment without a prior approval from the National Telecom Regulatory Authority (NTRA).<\/p>\n<p><strong>We\u2019re still in the dark about which types of equipment could land us in jail: <\/strong>Many MPs complained that the amendments fell short of specifying what types of equipment would be banned by the legislation. \u201cAs the bill doesn't specify what kind of telecom equipment would be banned, we have fears that this ban could extend to include personal computers, laptops, watches, and even stethoscopes,\u201d said Rep. Ayman Abul Ela, an opposition MP from the Reform and Development Party. House Deputy Speaker and businessman Rep. Mohamed Abul Enein also shared similar concerns and called on the NTRA to release a list specifying which equipment would be banned.<\/p>\n<p><strong>Our elected representatives seized the opportunity to complain about telecom <\/strong><strong>companies<\/strong>, accusing them of poor performance while asking the NTRA to press them to improve services.<\/p>\n<p><strong>Harsh penalties for violators:<\/strong> Those who import, manufacture, assemble and market the equipment without a license from the NTRA would be at risk of jail terms ranging from one to five years and a fine of EGP 2 mn to EGP 5 mn. A one-year jail term and a fine ranging between EGP 100k and EGP 200k would be handed to people convicted of possessing, installing or operating any of the equipment without the regulator\u2019s approval.<\/p>\n<p><strong>What\u2019s next? <\/strong>The bill will be put up for a final vote in an upcoming session, House Speaker Hanafi El Gebali said. If passed, it will be signed into law by President El Sisi.<\/p>\n<p><strong>ALSO GETTING A NOD<\/strong>- MPs approved yesterday a EUR 250 mn <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/736a249b-4301-4930-99e9-74b669ef90a6\">loan agreement<\/a> between Egypt and the European Bank for Reconstruction and Development to upgrade Cairo Metro Line 2. The money will be used to purchase new rolling stock and refurbish existing trains.<\/p>\n<p><strong>FROM THE COMMITTEES-<\/strong><\/p>\n<p><strong>#1- Senate + House get down to business on wildcat builders:<\/strong> The House and Senate housing committees began yesterday discussing a <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/3045baa9-e5b2-4a13-a2f2-e1bdab5bc4c6\">new government-drafted bill<\/a> that would allow for more illegal buildings to get their status reconciled. The Housing Committee at the Senate approved the draft bill in principle yesterday during a meeting attended by representatives from the government, according to <a href=\"http:\/\/bit.ly\/3OtCnxS\">local press<\/a>. Legislation passed in 2019 put in place a framework to settle building code violations but <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/ce9b82bd-8c20-41ad-af9a-d32e6d01ba45\">didn\u2019t impose unified rules<\/a> across the county, meaning that governorates have been implementing the law differently. The government has also been slow to respond to reconciliation requests.<\/p>\n<p><strong>#2- <\/strong><strong>House econ committee quizzes competition chief:<\/strong> Mahmoud Momtaz, head of the Egyptian Competition Authority (ECA), answered questions from the House Economic Committee on whether legislation needs to be amended to improve competitive neutrality (i.e. ensuring that state-owned enterprises and private-sector firms are operating on a level playing field).<\/p>\n<p><strong>The government has said it is interested in leveling the playing field for private <\/strong><strong>companies<\/strong>, and pledged that the ECA would be <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/0894c99e-e18e-473e-a869-64812c50988b\">handed new powers<\/a> to block state-owned enterprises from engaging in monopolistic practices as part of its new privatization strategy.<\/p>\n<p><strong>A QUICK REMINDER- <\/strong>The government has not said when it will publish the final version of its state ownership document, which was supposed to be unveiled at the Egypt Economic Conference almost a month ago.<\/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\/cit\/\">CIT<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/house-of-representatives\/\">House of Representatives<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/legislation-watch\/\">Legislation Watch<\/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                    <\/div>\n    <\/div>\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"577419\" 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=\"577419\">\r\n            \r\n            <div class=\"story__body\">\r\n\r\n                <a href=\"https:\/\/enterpriseam.com\/egypt\/2022\/11\/22\/577419\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-577419\" class=\"content-area-description single-story post-577419 post type-post status-publish format-standard hentry category-uncategorized wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<p class='web-image'><a href='https:\/\/www.sodic.com\/'><img decoding=\"async\" data-recalc-dims=\"1\" src=\"https:\/\/i0.wp.com\/ent.news\/2022\/7\/Sodic-25_DESIGNS_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=\"577420\" 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=\"577420\">\r\n            \r\n                <div class=\"issue-story-header text-center\">\r\n                    <div class=\"index-number\">7<\/div>\r\n\r\n                    <p class=\"f-graphik\">LAST NIGHT\u2019S TALK SHOWS<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2022\/11\/22\/the-viral-outbreak-the-world-cup-were-topics-du-jour-on-the-airwaves-last-night\/\">\r\n                            The viral outbreak + the World Cup were topics du jour on the airwaves last night                        <\/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\/22\/the-viral-outbreak-the-world-cup-were-topics-du-jour-on-the-airwaves-last-night\/\" 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\/22\/the-viral-outbreak-the-world-cup-were-topics-du-jour-on-the-airwaves-last-night\/')\">\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\/22\/the-viral-outbreak-the-world-cup-were-topics-du-jour-on-the-airwaves-last-night\/\">\n                    Facebook                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/facebook-icon2.svg\" alt=\"\"> -->\n                <\/a>\n           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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+viral+outbreak+%2B+the+World+Cup+were+topics+du+jour+on+the+airwaves+last+night+https%3A%2F%2Fenterpriseam.com%2Fegypt%2F2022%2F11%2F22%2Fthe-viral-outbreak-the-world-cup-were-topics-du-jour-on-the-airwaves-last-night%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\/22\/the-viral-outbreak-the-world-cup-were-topics-du-jour-on-the-airwaves-last-night\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-577420\" class=\"content-area-description single-story post-577420 post type-post status-publish format-standard hentry category-last-nights-talk-shows tag-enterpriseam tag-health tag-last-nights-talk-shows wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<p><strong>COP27 and climate change barely got a look-in on the airwaves last night for the <\/strong><strong>first time in what seems like a lifetime:<\/strong> Replacing it were RSV, the World Cup and yesterday\u2019s earthquake in the Mediterranean.<\/p>\n<p><strong>This story went viral on the airwaves:<\/strong> Everyone and their mothers were talking about the respiratory virus currently infecting kids across the country after Health Minister Khaled Abdel Ghaffer\u2019s presser yesterday. The RSV (\u201crespiratory syncytial virus\u201d) has infected around 1.6k people since October, Kelma Akhira\u2019s Lamees El Hadidi said (<a href=\"https:\/\/www.youtube.com\/watch?v=5-lhh4GAJFU\">watch, runtime: 1:48<\/a>), urging people to wear mask to curb its spread (<a href=\"https:\/\/www.youtube.com\/watch?v=GFxqGZyrS_k\">watch, runtime: 0:33<\/a>). Abdel Ghaffar made an appearance on El Hekaya (<a href=\"https:\/\/www.youtube.com\/watch?v=JXCdzEjWsow\">watch, runtime: 10:00<\/a>) to assuage public concerns, telling show host Amr Adib that health authorities are used to dealing with RSV. There\u2019s no specific medication or vaccine for the RSV globally, given that it\u2019s a mild infection despite it being highly-transmissive, he added. The virus and the minister\u2019s press conference also received coverage from Al Hayah Al Youm (<a href=\"https:\/\/www.youtube.com\/watch?v=65rQ_N0_cag\">watch, runtime: 10:16<\/a>) and Ala Mas\u2019ouleety (<a href=\"https:\/\/www.youtube.com\/watch?v=V7-TygmE_4Q\">watch, runtime: 11:37<\/a>)<\/p>\n<p><strong>Background<\/strong>: The spread of the RSV has raised concerns among parents due to its being highly contagious and disproportionately affecting children. Its symptoms are similar to flu, including higher body temperatures and a sore throat.<\/p>\n<p><strong>The footie-less coverage of the World Cup continues:<\/strong> Egypt\u2019s talking heads continued to give Qatar\u2019s hosting of the tournament glowing reviews yesterday, while El Hadidi dedicated time to praising Fifa\u2019s decision yesterday to ban players from wearing rainbow armbands in solidarity with LGBTQ people. \u201cImplementing such a decision comes under respect to the hosting country\u2019s Arab and Islamic traditions,\u201d El Hadidi said, describing it as \u201cthe right call\u201d (<a href=\"https:\/\/www.youtube.com\/watch?v=GKlXIZ5eL0I\">watch, runtime: 3:22<\/a>). Meanwhile, Ala Mas\u2019ouleety (<a href=\"https:\/\/www.youtube.com\/watch?v=vQgAX6Oue3s\">watch, runtime: 6:53<\/a>) dedicated more airtime to covering the handshake between El Sisi and Erdogan on Sunday, and Al Hayah Al Youm took note of El Sisi\u2019s phone call to Qatari Emir Sheikh Tamim bin Hamad Al Thani to congratulate the latter on a successful opening ceremony (<a href=\"https:\/\/www.youtube.com\/watch?v=u9LspSdJLyA\">watch, runtime: 2:08<\/a>).<\/p>\n<p><strong><a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/f19d96c3-4e7a-429d-a48c-1fdf11b4478a\">Yesterday\u2019s earthquake<\/a><\/strong><strong> got most of them talking:<\/strong> El Hekaya, (<a href=\"https:\/\/www.youtube.com\/watch?v=WbcJXugAr4E\">watch, runtime: 5:18<\/a>), Masaa DMC (<a href=\"https:\/\/www.youtube.com\/watch?v=tu55IfFEp5I\">watch, runtime: 5:45<\/a>) and Ala Mas\u2019ouleety (<a href=\"https:\/\/www.youtube.com\/watch?v=z-uqoKIsEZw\">watch, runtime: 4:47<\/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\/health\/\">health<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/last-nights-talk-shows\/\">LAST NIGHT\u2019S TALK SHOWS<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                    <\/div>\n    <\/div>\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"577421\" 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  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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=\"577422\" 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=\"577422\">\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\">EGYPT IN THE NEWS<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2022\/11\/22\/bloomberg-looks-askance-at-our-development-plan\/\">\r\n                            Bloomberg looks askance at our development plan                        <\/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\/22\/bloomberg-looks-askance-at-our-development-plan\/\" target=\"_blank\">\n                    Open in new tab                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/new-tab.svg\" alt=\"\"> -->\n                <\/a>\n            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plan&url=https:\/\/enterpriseam.com\/egypt\/2022\/11\/22\/bloomberg-looks-askance-at-our-development-plan\/\">\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\/22\/bloomberg-looks-askance-at-our-development-plan\/&title=Bloomberg looks askance at our development plan\">\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=Bloomberg+looks+askance+at+our+development+plan+https%3A%2F%2Fenterpriseam.com%2Fegypt%2F2022%2F11%2F22%2Fbloomberg-looks-askance-at-our-development-plan%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\/22\/bloomberg-looks-askance-at-our-development-plan\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-577422\" class=\"content-area-description single-story post-577422 post type-post status-publish format-standard hentry category-egypt-in-the-news tag-ancient-egypt tag-archaeology tag-enterpriseam tag-history tag-tourism tag-zahi-hawass wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<p><strong>After more than two weeks of non-stop COP27 + human rights coverage, the global <\/strong><strong>media isn\u2019t completely \u2018Egypted\u2019 out.<\/strong> Though there\u2019s no single story dominating the conversation this morning, there are a number of stories floating around the interwebs, mostly focusing on the country\u2019s historical monuments and various tourism initiatives:<\/p>\n<p><strong><a href=\"https:\/\/www.bloomberg.com\/news\/articles\/2022-11-21\/as-cop27-ends-egypt-labors-with-costly-vision-for-future?leadSource=uverify%20wall\">Bloomberg<\/a><\/strong><strong> is calling the government\u2019s ambitious development plans into <\/strong><strong>question<\/strong>, which it says are under threat from tougher economic conditions at home and abroad, demographic challenges, and climate change.<\/p>\n<p><strong>Also getting ink:<\/strong><\/p>\n<ul>\n<li><strong>Karnak Temple is getting a face lift: <\/strong>Restoration works are underway at the Great Hypostyle Hall of Luxor\u2019s Karnak Temple ahead of the winter tourist season. (<a href=\"https:\/\/www.al-monitor.com\/originals\/2022\/11\/egypt-restores-great-hypostyle-hall-karnak-temple\">Al Monitor<\/a>)<\/li>\n<li><strong>The Rosetta Stone repatriation campaign continues:<\/strong> Former Antiquities Minister Zahi Hawass has so far collected 100k signatures out of the 1 mn target for a<a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/59751d4e-cce9-4d1e-862b-ae185e26da15\">petition to repatriate the Rosetta Stone<\/a> from the British Museum. (<a href=\"https:\/\/www.thenationalnews.com\/world\/2022\/11\/21\/petition-to-return-rosetta-stone-to-egypt-seeks-a-million-signatures\/\">The National<\/a>)<\/li>\n<li><strong>The Tourism Ministry recently launched the <\/strong><strong><a href=\"https:\/\/www.blessedegypt.com\/\">Holy Family Trail<\/a><\/strong>, which links together 25 destinations along the route said to have been walked by Jesus, Mary, and Joseph. (<a href=\"https:\/\/www.bbc.com\/travel\/article\/20221116-holy-family-trail-a-new-path-though-egypts-holiest-sites\">BBC<\/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\/ancient-egypt\/\">Ancient Egypt<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/archaeology\/\">archaeology<\/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\/tourism\/\">tourism<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/zahi-hawass\/\">Zahi Hawass<\/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=\"577423\" class=\"issue-section \">\n<div class=\"issue-section__content\">\n<div class=\"stories\">    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"577424\" 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=\"577424\">\r\n            \r\n                <div class=\"issue-story-header text-center\">\r\n                    <div class=\"index-number\">9<\/div>\r\n\r\n                    <p class=\"f-graphik\">Also on our Radar<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2022\/11\/22\/15-egyptian-arab-consortiums-could-bid-for-ppp-school-project\/\">\r\n                            15 Egyptian + Arab consortiums could bid for PPP school project                        <\/a>\r\n                    <\/h3>\r\n\r\n                    \r\n\t\t\t\t\t\n<div class=\"cta\">\n    <div class=\"cta__btn share-dropdown-cta dropdown-toggle-btn\" style=\"position:relative\">\n        <img decoding=\"async\" src=\"https:\/\/ent.news\/internal\/408834.svg\" alt=\"\">\n        Share Story\n        <!-- Dropdown Menu -->\n        <ul class=\"share-menu\">\n            <li class=\"list-inline-item\">\n                <a href=\"https:\/\/enterpriseam.com\/egypt\/2022\/11\/22\/15-egyptian-arab-consortiums-could-bid-for-ppp-school-project\/\" target=\"_blank\">\n                    Open in new tab                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/new-tab.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a href=\"#\" target=\"_blank\" onclick=\"event.preventDefault(); navigator.clipboard.writeText('https:\/\/enterpriseam.com\/egypt\/2022\/11\/22\/15-egyptian-arab-consortiums-could-bid-for-ppp-school-project\/')\">\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\/22\/15-egyptian-arab-consortiums-could-bid-for-ppp-school-project\/\">\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=15 Egyptian + Arab consortiums could bid for PPP school project&url=https:\/\/enterpriseam.com\/egypt\/2022\/11\/22\/15-egyptian-arab-consortiums-could-bid-for-ppp-school-project\/\">\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\/22\/15-egyptian-arab-consortiums-could-bid-for-ppp-school-project\/&title=15 Egyptian + Arab consortiums could bid for PPP school project\">\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=15+Egyptian+%2B+Arab+consortiums+could+bid+for+PPP+school+project+https%3A%2F%2Fenterpriseam.com%2Fegypt%2F2022%2F11%2F22%2F15-egyptian-arab-consortiums-could-bid-for-ppp-school-project%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\/22\/15-egyptian-arab-consortiums-could-bid-for-ppp-school-project\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-577424\" class=\"content-area-description single-story post-577424 post type-post status-publish format-standard hentry category-also-on-our-radar tag-also-on-our-radar tag-education tag-enterpriseam tag-finance tag-infrastructure tag-public-private-partnership tag-renewables wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<p>Among the other stories we\u2019re paying attention to this morning:<\/p>\n<p><strong>EDUCATION- <\/strong><\/p>\n<ul>\n<li><strong>As many as 15 consortiums have qualified to submit bids to build 1k <\/strong><strong>language schools by 2030 <\/strong>under public-private partnership (PPP) framework, Atter Hannoura, director of the Finance Ministry\u2019s PPP unit, reportedly told <a href=\"http:\/\/bit.ly\/3hNVhTA\">Hapi Journal<\/a>. The terms of the tender are expected to be released before the end of the year.<\/li>\n<\/ul>\n<p><strong>INFRASTRUCTURE- <\/strong><\/p>\n<ul>\n<li><strong>Alexandria Port Authority<\/strong> signed a MoU with a <strong>Chinese consortium<\/strong> to plan the construction, management and operation of the <strong>logistics zone at Alexandria Port<\/strong>. (<a href=\"http:\/\/bit.ly\/3gopoR9\">Transport Ministry statement<\/a>)<\/li>\n<li>The <strong>Irrigation Ministry<\/strong> signed four contracts worth EGP 225 mn for its <a href=\"https:\/\/enterprise.press\/stories\/2018\/02\/28\/ebrd-to-lend-egypt-eur-210-mn-for-kitchener-drain-depollution-project\/\">Kitchener<\/a><a href=\"https:\/\/enterprise.press\/stories\/2018\/02\/28\/ebrd-to-lend-egypt-eur-210-mn-for-kitchener-drain-depollution-project\/\">Drain depollution project<\/a>, which is being supervised by the <strong>European Bank for Reconstruction and Development<\/strong>. The contracts were estimated at EUR 10.3 mn before tax, with the project set to be finalized by 24 January 2024. (<a href=\"https:\/\/www.alborsaanews.com\/2022\/11\/20\/1599760\">Al Borsa<\/a>)<\/li>\n<\/ul>\n<p><strong>RENEWABLES-<\/strong><\/p>\n<ul>\n<li>Three<strong> Qatari companies<\/strong> are mulling investing in <strong>new and renewable energy<\/strong> production materials in Egypt, Muharram Helal, the chairman of the <strong>Egypt-Qatar Business Council<\/strong>, reportedly said. <a href=\"https:\/\/www.alborsaanews.com\/2022\/11\/20\/1599714\">(Al Borsa<\/a>)<\/li>\n<\/ul>\n<p><strong>FINANCE-<\/strong><\/p>\n<ul>\n<li><strong>Pioneers Properties for Urban Development raised EGP 292.5 mn in a <\/strong><strong>securitized bond issuance<\/strong>, the third in a wider EGP 3 bn program, according to <a href=\"https:\/\/ent.news\/2022\/11\/EFG-Hermes-x-Pioneers-Third-Issuance-English.pdf\">a statement (pdf)<\/a> from our friends at EFG Hermes, which managed the sale.<\/li>\n<li>The <strong>Ins. Federation of Egypt<\/strong> has finalized drafting the first <strong>ins. policy <\/strong>for <strong>EVs<\/strong> in the country. (<a href=\"https:\/\/www.alborsaanews.com\/2022\/11\/19\/1599270\">Al Borsa<\/a>)<\/li>\n<li><strong>EFG-Hermes\u2019 BNPL platform ValU <\/strong>will offer payment solutions to shoppers at <strong>Talaat Moustafa Group\u2019s<\/strong> flagship Open Air Mall in Madinaty and Gateway Mall in Rehab. (<a href=\"https:\/\/ent.news\/2022\/11\/valU-x-TMG.pdf\">Statement, pdf<\/a>)<\/li>\n<li><strong>Banque du Caire<\/strong> has launched a <strong>foreign exchange company<\/strong> dubbed Cairo Exchange after receiving approval from the Central Bank of Egypt. (<a href=\"https:\/\/bit.ly\/3Av7MKo\">Al Mal<\/a>)<\/li>\n<\/ul>\n<p><strong>ALSO-<\/strong><\/p>\n<ul>\n<li>e-Finance\u2019s e-commerce subsidiary<strong> eAswaaq<\/strong> is set to start selling <strong>Schneider <\/strong><strong>Electric<\/strong> products on its platform. (<a href=\"https:\/\/ent.news\/2022\/11\/eAswaaq-MOU-Schneider-AR-PRL.pdf\">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\/education\/\">Education<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/finance\/\">Finance<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/infrastructure\/\">infrastructure<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/public-private-partnership\/\">public-private partnership<\/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=\"577426\" 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=\"577426\">\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\">Diplomacy<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2022\/11\/22\/el-sisi-erdogan-voice-optimism-about-turning-a-new-page\/\">\r\n                            El Sisi + Erdogan voice optimism about turning a new page                        <\/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\/22\/el-sisi-erdogan-voice-optimism-about-turning-a-new-page\/\" 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\/22\/el-sisi-erdogan-voice-optimism-about-turning-a-new-page\/')\">\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\/22\/el-sisi-erdogan-voice-optimism-about-turning-a-new-page\/\">\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=El Sisi + Erdogan voice optimism about turning a new page&url=https:\/\/enterpriseam.com\/egypt\/2022\/11\/22\/el-sisi-erdogan-voice-optimism-about-turning-a-new-page\/\">\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\/22\/el-sisi-erdogan-voice-optimism-about-turning-a-new-page\/&title=El Sisi + Erdogan voice optimism about turning a new page\">\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=El+Sisi+%2B+Erdogan+voice+optimism+about+turning+a+new+page+https%3A%2F%2Fenterpriseam.com%2Fegypt%2F2022%2F11%2F22%2Fel-sisi-erdogan-voice-optimism-about-turning-a-new-page%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\/22\/el-sisi-erdogan-voice-optimism-about-turning-a-new-page\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-577426\" class=\"content-area-description single-story post-577426 post type-post status-publish format-standard hentry category-diplomacy tag-abdel-fattah-el-sisi tag-diplomacy tag-electricity tag-enterpriseam tag-green-hydrogen tag-politics tag-recep-tayyip-erdogan tag-turkey tag-world-bank wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<p><a class=\"content-anchor\" id=\"tldr-story-06\"><\/a> <strong>A new era for Egypt-Turkey ties?<\/strong> Both President El Sisi and his Turkish counterpart Recep Tayyip Erdogan have spoken of the need to improve ties following Monday\u2019s surprise meeting between the regional foes in Qatar. Ankara released photos of the two leaders <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/f19d96c3-4e7a-429d-a48c-1fdf11b4478a\">shaking hands<\/a> on the sidelines of the World Cup opening ceremony in Doha in their first face-to-face meeting since El Sisi came to power in 2013.<\/p>\n<ul>\n<li><strong>From Cairo:<\/strong> Ittihadiya said in <a href=\"https:\/\/www.facebook.com\/Egy.Pres.Spokesman\/posts\/pfbid025kopBdVtyapD9xQcDdNDN4Cqg1qWAnHmcBGfBrgqKq8ppgJdiAZfdy81gREhx5xJl\">a statement<\/a> yesterday that the two leaders \u201cconfirmed the depth of historical ties between the two countries\u201d and agreed that the meeting would serve as a starting point for improving relations.<\/li>\n<li><strong>From Ankara:<\/strong> \u201cWe said that a process can begin. A step has been taken here to start such a process, and we have had discussions. I hope we can move the process, which started with our ministers, to a good point later, hopefully to the high-level meetings,\u201d <a href=\"https:\/\/www.hurriyetdailynews.com\/erdogan-meets-sisi-at-world-cup-ceremony-178682\">Turkish media<\/a> reported Erdogan as saying following the meeting.<\/li>\n<\/ul>\n<p><strong>Ending a decade of hostility:<\/strong> Egypt and Turkey have been at each other\u2019s throats over Turkey\u2019s meddling in Egyptian politics, particularly after cutting ties in the aftermath of the 2013 revolution, which overthrew the Islamist regime that Ankara backed. Officials tentatively began discussions about dialing back tensions, which have risen further in recent years due to rivalry in Libya. The two sides have not been able to come to a compromise over Turkey\u2019s role in Libya or its support for the Ikhwan, which led to the talks being suspended after only two rounds.<\/p>\n\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/abdel-fattah-el-sisi\/\">Abdel Fattah El Sisi<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/diplomacy\/\">DIPLOMACY<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/electricity\/\">electricity<\/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\/politics\/\">politics<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/recep-tayyip-erdogan\/\">Recep Tayyip Erdogan<\/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\/world-bank\/\">World Bank<\/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=\"577428\" 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\/22\/577428\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-577428\" class=\"content-area-description single-story post-577428 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>13-22 November (Sunday-Tuesday): <a href=\"https:\/\/www.ciff.org.eg\/\">Cairo International Film Festival (CIFF)<\/a>.<\/p>\n<p>20 November-18 December (Sunday-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 November (Sunday): Senate in session.<\/p>\n<p>27-28 November (Sunday-Monday): 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> and Pafix, Egypt International Exhibition Center, New Cairo.<\/p>\n<p>29 November - 6 December (Tuesday-Tuesday): US and Russia <a href=\"https:\/\/edition.cnn.com\/2022\/11\/18\/politics\/new-start-talks-cairo-2022\/index.html\">to hold talks<\/a> 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>5-7 December (Monday-Wednesday): <a href=\"https:\/\/foodafrica-expo.com\/\">Food Africa 2022<\/a> kicks off at Egypt International Exhibitions Center.<\/p>\n<p>6 December (Tuesday): <a href=\"https:\/\/climatexforum.enterprise.press\/\">Enterprise Climate X Forum<\/a>, Grand Egyptian Museum.<\/p>\n<p>7 December (Wednesday): <a href=\"https:\/\/events.euromoney.com\/event\/3bd9d782-7c1b-47db-85de-840ccd977928\/summary\">Euromoney Egypt 2022<\/a>conference<\/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>January: Infinity + Africa Finance Corporation to close acquisition of Lekela Power.<\/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>End of December\/early January: SFE\u2019s pre-IPO fund <a href=\"https:\/\/www.alborsaanews.com\/2022\/11\/20\/1599698\">to kick off<\/a>roadshow.<\/p>\n<p>4Q 2022: Electricity Ministry to tender six solar projects in Aswan Governorate.<\/p>\n<p>4Q 2022: 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>1Q 2023: 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":577406,"menu_order":0,"template":"","categories":[],"tags":[],"class_list":["post-577405","issue","type-issue","status-publish","has-post-thumbnail","hentry","wpautop","entry"],"acf":{"mongo_id":"1288e416-6906-45c1-b8b6-147608370bf1","teaser":"","photo_url":"https:\/\/ent.news\/2022\/11\/332.jpg"},"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v27.1 (Yoast SEO v27.1.1) - 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