{"id":577477,"date":"2022-11-24T04:03:31","date_gmt":"2022-11-24T04:03:31","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/?post_type=issue&#038;p=577477"},"modified":"2025-12-16T11:18:05","modified_gmt":"2025-12-16T11:18:05","slug":"is-the-qatari-sovereign-fund-closing-in-on-a-20-stake-in-vodafone-egypt","status":"publish","type":"issue","link":"https:\/\/enterpriseam.com\/egypt\/issues\/is-the-qatari-sovereign-fund-closing-in-on-a-20-stake-in-vodafone-egypt\/","title":{"rendered":"Is the Qatari sovereign fund closing in on a 20% stake in Vodafone Egypt?"},"content":{"rendered":"<section id=\"577479\" 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=\"577479\">\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\/24\/this-morning-happy-thanksgiving-everyone\/\">\r\n                            THIS MORNING: Happy Thanksgiving, everyone                        <\/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\/24\/this-morning-happy-thanksgiving-everyone\/\" 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 EBA, which is also in talks with the Federation of Egyptian Industries and the Chambers of Commerce, plans to appeal to the president to water down the decision.<\/p>\n<p><strong>^^ We have more on this story in this morning\u2019s news well, below. <\/strong><\/p>\n<p><strong>Emigration Minister <\/strong><strong>Soha Gendy<\/strong><strong> is in Riyadh <\/strong>to open the <a href=\"https:\/\/www.nilepropertyexpo.com\/\">Nile Property Expo<\/a>, according to a <a href=\"http:\/\/bit.ly\/3OzTgHe\">ministry statement<\/a>.<\/p>\n<p class='web-image'><img decoding=\"async\" data-recalc-dims=\"1\" src=\"https:\/\/i0.wp.com\/ent.news\/2022\/11\/neuer-1600px.jpg?ssl=1\" alt='enterprise'><\/p>\n<p><strong>It\u2019s day five of the World Cup<\/strong>: Teams in groups G and H play their openers today (all times CLT):<\/p>\n<ul>\n<li>Switzerland v Cameroon (12pm)<\/li>\n<li>Uruguay v South Korea (3pm)<\/li>\n<li>Portugal v Ghana (6pm)<\/li>\n<li>Brazil v Serbia (9pm)<\/li>\n<\/ul>\n<p><strong>The big story out of Doha on day four: Japan did a Saudi Arabia yesterday<\/strong>, coming from behind to beat Germany. An impressive late comeback handed the Japanese a famous 2-1 victory against the four-time winners.<\/p>\n<p><strong>Could Germany be heading out of the competition after just 180 minutes?<\/strong> Yesterday\u2019s loss means Germany will likely have to win their next game against Spain to have a chance of making it to the knockouts. But with the Germans looking toothless in front of goal and the Spanish thrashing Costa Rica 7-0 yesterday, the smart money is now on them making a shock exit from the competition in the group stage.<\/p>\n<p><strong>Germany\u2019s pre-game protest is getting almost as much attention in the press as their <\/strong><strong>shock defeat:<\/strong> Before kickoff, Germany\u2019s players covered their mouths with their hands in a jab at Fifa\u2019s decision to <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/44b5170e-4c27-4073-a613-659765a80dc7\">ban team captains<\/a> from wearing the OneLove armband.<\/p>\n<p><strong>In yesterday\u2019s other games:<\/strong><\/p>\n<ul>\n<li><strong>Belgium<\/strong> snatched a 1-0 win against a lively <strong>Canadian<\/strong> team;<\/li>\n<li><strong>Morocco<\/strong> and <strong>Croatia<\/strong> played out a goalless draw.<\/li>\n<\/ul>\n<p><strong>GROUP E <\/strong><\/p>\n<table class=\"markets-table\">\n<tbody>\n<tr class=\"gray-table\">\n<td> <\/td>\n<td>\n<p><strong>P<\/strong><\/p>\n<\/td>\n<td>\n<p><strong>W<\/strong><\/p>\n<\/td>\n<td>\n<p><strong>D<\/strong><\/p>\n<\/td>\n<td>\n<p><strong>L<\/strong><\/p>\n<\/td>\n<td>\n<p><strong>GD<\/strong><\/p>\n<\/td>\n<td>\n<p><strong>Points<\/strong><\/p>\n<\/td>\n<\/tr>\n<tr>\n<td>\n<p>?? Spain<\/p>\n<\/td>\n<td>\n<p>1<\/p>\n<\/td>\n<td>\n<p>1<\/p>\n<\/td>\n<td>\n<p>0<\/p>\n<\/td>\n<td>\n<p>0<\/p>\n<\/td>\n<td>\n<p>7<\/p>\n<\/td>\n<td>\n<p>3<\/p>\n<\/td>\n<\/tr>\n<tr class=\"gray-table\">\n<td>\n<p>?? Japan<\/p>\n<\/td>\n<td>\n<p>1<\/p>\n<\/td>\n<td>\n<p>1<\/p>\n<\/td>\n<td>\n<p>0<\/p>\n<\/td>\n<td>\n<p>0<\/p>\n<\/td>\n<td>\n<p>1<\/p>\n<\/td>\n<td>\n<p>3<\/p>\n<\/td>\n<\/tr>\n<tr>\n<td>\n<p>?? Germany<\/p>\n<\/td>\n<td>\n<p>1<\/p>\n<\/td>\n<td>\n<p>0<\/p>\n<\/td>\n<td>\n<p>0<\/p>\n<\/td>\n<td>\n<p>1<\/p>\n<\/td>\n<td>\n<p>-1<\/p>\n<\/td>\n<td>\n<p>0<\/p>\n<\/td>\n<\/tr>\n<tr class=\"gray-table\">\n<td>\n<p>?? Costa Rica<\/p>\n<\/td>\n<td>\n<p>1<\/p>\n<\/td>\n<td>\n<p>0<\/p>\n<\/td>\n<td>\n<p>0<\/p>\n<\/td>\n<td>\n<p>1<\/p>\n<\/td>\n<td>\n<p>-7<\/p>\n<\/td>\n<td>\n<p>0<\/p>\n<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<p><strong>GROUP F<\/strong><\/p>\n<table class=\"markets-table\">\n<tbody>\n<tr class=\"gray-table\">\n<td> <\/td>\n<td>\n<p><strong>P<\/strong><\/p>\n<\/td>\n<td>\n<p><strong>W<\/strong><\/p>\n<\/td>\n<td>\n<p><strong>D<\/strong><\/p>\n<\/td>\n<td>\n<p><strong>L<\/strong><\/p>\n<\/td>\n<td>\n<p><strong>GD<\/strong><\/p>\n<\/td>\n<td>\n<p><strong>Points<\/strong><\/p>\n<\/td>\n<\/tr>\n<tr>\n<td>\n<p>?? Belgium<\/p>\n<\/td>\n<td>\n<p>1<\/p>\n<\/td>\n<td>\n<p>1<\/p>\n<\/td>\n<td>\n<p>0<\/p>\n<\/td>\n<td>\n<p>0<\/p>\n<\/td>\n<td>\n<p>1<\/p>\n<\/td>\n<td>\n<p>3<\/p>\n<\/td>\n<\/tr>\n<tr class=\"gray-table\">\n<td>\n<p>?? Croatia<\/p>\n<\/td>\n<td>\n<p>1<\/p>\n<\/td>\n<td>\n<p>0<\/p>\n<\/td>\n<td>\n<p>1<\/p>\n<\/td>\n<td>\n<p>0<\/p>\n<\/td>\n<td>\n<p>0<\/p>\n<\/td>\n<td>\n<p>1<\/p>\n<\/td>\n<\/tr>\n<tr>\n<td>\n<p>?? Morocco<\/p>\n<\/td>\n<td>\n<p>1<\/p>\n<\/td>\n<td>\n<p>0<\/p>\n<\/td>\n<td>\n<p>1<\/p>\n<\/td>\n<td>\n<p>0<\/p>\n<\/td>\n<td>\n<p>0<\/p>\n<\/td>\n<td>\n<p>1<\/p>\n<\/td>\n<\/tr>\n<tr class=\"gray-table\">\n<td>\n<p>?? Canada<\/p>\n<\/td>\n<td>\n<p>1<\/p>\n<\/td>\n<td>\n<p>0<\/p>\n<\/td>\n<td>\n<p>0<\/p>\n<\/td>\n<td>\n<p>1<\/p>\n<\/td>\n<td>\n<p>-1<\/p>\n<\/td>\n<td>\n<p>0<\/p>\n<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<hr class=\"grey-line\">\n<p><strong>PSA #1- Egyptian companies and nonprofits can now apply for funding from KfW <\/strong><strong>to undertake projects that will create jobs<\/strong>, the German development bank <a href=\"https:\/\/ent.news\/2022\/11\/Launch-Regional-Call-2022-EN.pdf\">announced (pdf)<\/a> yesterday. Projects will receive between EUR 1 mn and EUR 10 mn to deliver projects that \u201ccontribute to sustainable job creation in the private sector,\u201d it said. Applicants have until Thursday 22 December to submit their concept notes.<\/p>\n<p><strong>PSA #2- Flat6Labs have partnered with SIAC and Dar El Handasah to launch \u2018Makers\u2019<\/strong>, a construction-tech focused innovation program to support startups operating in construction technology solutions, it said in <a href=\"https:\/\/ent.news\/2022\/11\/Press-Release-Flat6Labs-in-partnership-with-SIAC-and-Dar-Al-Handasah-launch-Makers-ConTech-Innovation-Program-to-foster-construction-startups-across-Egypt.pdf\">a press release (pdf)<\/a> yesterday. The program includes a pre-accelerator for early-stage businesses and an accelerator program for more advanced startups. Head <a href=\"https:\/\/www.flat6labs.com\/program\/makers-contech-entrepreneurship-innovation-program\/\">here<\/a> for more information and to apply for the program.<\/p>\n<p><strong>PSA #3- Rice race:<\/strong> Cabinet <a href=\"https:\/\/www.facebook.com\/EgyptianCabinet\/posts\/pfbid02JdLQbcGYa6Zk6k8yG57xYKPZZwgrArP187h4sDpdKbKG797XAKY6SXF4m4FdadWl\">is reminding<\/a> rice producers, sellers and distributors to notify the Supply Ministry directorates of their stockpiled rice and storage areas by the end of a <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/bb70af9c-1b6d-4443-b53d-804ef6b64405\">one-week notice period<\/a> on Sunday. Rice has been designated as a \u201c<a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/087516ce-2d80-407c-a539-7782ac0a6a8b\">strategic commodity<\/a>\u201d for at least three months under efforts to deter traders who try to exploit the opportunity to hoard rice amid a global shortage of commodities.<\/p>\n<p class='web-image'><img decoding=\"async\" data-recalc-dims=\"1\" src=\"https:\/\/i0.wp.com\/ent.news\/2018\/11\/Jerome-Powell-web.jpg?ssl=1\" alt='enterprise'><\/p>\n<p><strong>THE BIG STORIES ABROAD-<\/strong><\/p>\n<p><a class=\"content-anchor\" id=\"tldr-story-07\"><\/a> <strong>Leading in the global business press this morning: The Fed just gave its <\/strong><strong>clearest indication yet that it plans to ease rate hikes.<\/strong> A majority of Federal Reserve officials came out in support of slowing the pace of interest rate hikes at its policy meeting earlier this month, according to minutes released yesterday. (<a href=\"https:\/\/www.reuters.com\/markets\/rates-bonds\/substantial-majority-fed-officials-see-rate-hikes-slowing-soon-minutes-show-2022-11-23\/\">Reuters<\/a> | <a href=\"https:\/\/www.bloomberg.com\/news\/articles\/2022-11-23\/most-fed-officials-saw-slower-pace-of-hikes-appropriate-soon?srnd=premium&sref=mmeFTDW1\">Bloomberg<\/a> | <a href=\"https:\/\/www.ft.com\/content\/422c0466-94e4-4d89-85e3-b1006a0d3feb\">Financial Times<\/a> | <a href=\"https:\/\/www.wsj.com\/articles\/fed-minutes-show-most-officials-favored-slowing-rate-rises-soon-11669230432\">Wall Street Journal<\/a> | <a href=\"https:\/\/www.cnbc.com\/2022\/11\/23\/fed-minutes-november-2022.html\">CNBC<\/a>)<\/p>\n<p><strong>There\u2019s still room for disappointment, though:<\/strong> \u201cA substantial majority of participants judged that a slowing in the pace of increase would likely <strong>soon<\/strong> be appropriate,\u201d the minutes read, meaning that a fifth straight 75-bps hike is by no means off the table when officials meet next month.<\/p>\n<p><strong>All will depend on November\u2019s inflation data:<\/strong> US inflation has been on a downward trend in recent months, raising optimism in the markets that the central bank could soon start to take its foot off the gas.<\/p>\n<p><strong>The markets greeted the news with a cheer:<\/strong> US stocks extended gains on the news yesterday with the S&P 500 rising 0.6% to reach its highest level since mid-September, and the Nasdaq rising 1.0. The USD continued to fall back while bonds rose.<\/p>\n<p><strong>The rally is continuing in Asia:<\/strong> Shares across the region are in the green in early trading this morning, while markets in Europe are poised for gains later today. <strong>The US markets are closed today for the Thanksgiving holiday<\/strong>, and will close early tomorrow for Black Friday.<\/p>\n<p><strong>MEANWHILE- Russia sends Ukraine into darkness:<\/strong> A barrage of Russian airstrikes have knocked out most of Ukraine\u2019s energy grid, cutting off power in many cities and sending much of the country into darkness. Yesterday\u2019s strikes are the latest in a weeks-long Russian offensive targeting the war-torn country\u2019s power infrastructure. The story\u2019s getting ink from: <a href=\"https:\/\/apnews.com\/article\/russia-ukraine-europe-40fcb95d1940825b99188256ee218d0d\">AP<\/a> | <a href=\"https:\/\/www.reuters.com\/world\/europe\/ukraine-setting-up-invincibility-centres-help-provide-heat-water-2022-11-22\/\">Reuters<\/a> | <a href=\"https:\/\/www.bbc.com\/news\/live\/world-europe-63733673\">BBC<\/a> | <a href=\"https:\/\/www.google.com\/search?q=new+york+times+russia+ukraine&rlz=1C5CHFA_enEG981EG981&oq=new+york+times+russia+ukraine&aqs=chrome..69i57j69i59j69i60l2j69i65l3j69i60.6868j0j4&sourceid=chrome&ie=UTF-8\">NYT<\/a>.<\/p>\n<p><strong>MARKET WATCH-<\/strong><\/p>\n<p><strong>Europe can\u2019t agree on Russia oil price cap:<\/strong> EU members aren\u2019t seeing eye-to-eye on how to implement the proposed price cap on Russian crude, with negotiations on where to set the cap set to continue today or tomorrow. The EU Commission has proposed setting the cap at USD 65 a barrel, a price dismissed by the Baltics and Poland for being too high and rejected by others with large shipping industries \u2014 Greece, Cyprus and Malta \u2014 for being too high. \u201cPoland say they can't go above $30 per barrel. Cyprus wants compensation. Greece wants more time. It is not going to happen tonight,\u201d one diplomat told <a href=\"https:\/\/www.reuters.com\/business\/energy\/g7-looking-russian-oil-price-cap-65-70-per-barrel-eu-diplomat-2022-11-23\/\">Reuters<\/a>. The price cap on Russia\u2019s seaborne crude is expected to come into force on 5 December. <a href=\"https:\/\/www.bloomberg.com\/news\/articles\/2022-11-23\/eu-talks-stall-over-price-level-for-proposed-russian-oil-cap?srnd=premium-europe&sref=mmeFTDW1\">Bloomberg<\/a> also covered the talks.<\/p>\n<p><strong>Oil prices plunged by over 3% yesterday <\/strong>on the back of a proposed Russian oil price cap and a build-up of US gasoline stocks, according to <a href=\"https:\/\/www.reuters.com\/business\/energy\/oil-prices-climb-big-drop-us-crude-stocks-russia-supply-uncertainty-2022-11-23\/\">the newswire<\/a>. Brent futures for January were down 3.3% to close at USD 85.41 per barrel, while US crude fell 3.7% to USD 77.94. US gasoline inventories were up by 3.1 mn barrels, exceeding analysts predictions of a 383k barrel build.<\/p>\n<p class='web-image' ><a href='https:\/\/climatexforum.enterprise.press\/index.html#contactUs'><img decoding=\"async\" data-recalc-dims=\"1\" src=\"https:\/\/i0.wp.com\/ent.news\/2022\/11\/Climate-X-new-registration-En-1600x.jpg?ssl=1\" alt='enterprise'><\/a><\/p>\n<p><a class=\"content-anchor\" id=\"tldr-story-06\"><\/a><strong> The <\/strong><strong><a href=\"https:\/\/climatexforum.enterprise.press\/index.html#aboutSection\">Enterprise Climate X Forum<\/a><\/strong><strong> is fast approaching, <\/strong>and we\u2019re incredibly excited to meet with some of you in Cairo at the <strong>Grand Egyptian Museum<\/strong> on Tuesday, 6 December 2022. We get underway with a networking breakfast at 8am CLT.<\/p>\n<p><strong>What\u2019s on the table?<\/strong> CEOs, execs, bankers and development finance folks will mull over a variety of topics, including:<\/p>\n<ul>\n<li>What\u2019s this green hydrogen mumbo-jumbo you speak of?<\/li>\n<li>How are leaders building green businesses \u2014 from scratch, or as retrofits to decades-old family enterprises?<\/li>\n<li>How do we pay for it all?<\/li>\n<li>What do you really think of the green economy?<\/li>\n<\/ul>\n<p><strong>With that in mind, we\u2019ll be dropping little notices in stories and topics we intend to explore more of at the forum.<\/strong> Study up if you\u2019re coming.<\/p>\n<p><strong>Some of the biggest names in business and finance are on board \u2014 are you?<\/strong> If you\u2019re a C-suite exec, business owner, climate professional, DFI staff, investor or banker, please email us at <a href=\"mailto:climatexrsvp@enterprisemea.com\">climatexrsvp@enterprisemea.com<\/a> to signal your interest, letting us know your name, title and where you work. You can learn more on our conference website <a href=\"https:\/\/climatexforum.enterprise.press\/index.html#aboutSection\">here<\/a>.<\/p>\n<p><strong>*** YOU MUST REGISTER TO ATTEND by clicking the link on your registration email. <\/strong>Attendance is by invitation only. You\u2019ll need a special QR code to gain access to the GEM on event day.<\/p>\n<hr class=\"grey-line\">\n<p><strong>CIRCLE YOUR CALENDAR-<\/strong><\/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<\/a><\/strong><strong> in El Gouna is Sunday, <\/strong><strong>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>Payment and fintech conference Pafix will be held as part of <\/strong><strong><a href=\"https:\/\/cairoict.com\/\">Cairo ICT 2022<\/a><\/strong> from 27-30 November at the Egypt International Exhibition Centre in New Cairo.<\/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>.<\/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\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\/commodities\/\">commodities<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/egyptian-businessmens-association\/\">Egyptian Businessmen&#039;s Association<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/germany\/\">Germany<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/industry\/\">industry<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/interest-rates\/\">interest rates<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/japan\/\">Japan<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/policy\/\">policy<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/supply-ministry\/\">Supply Ministry<\/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=\"577481\" 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=\"577481\">\r\n            \r\n            <div class=\"story__body\">\r\n\r\n                <a href=\"https:\/\/enterpriseam.com\/egypt\/2022\/11\/24\/577481\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-577481\" class=\"content-area-description single-story post-577481 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 data-recalc-dims=\"1\" decoding=\"async\" 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=\"577482\" 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=\"577482\">\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\">M&amp;A WATCH<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2022\/11\/24\/is-the-qatari-sovereign-fund-closing-in-on-a-20-stake-in-vodafone-egypt\/\">\r\n                            Is the Qatari sovereign fund closing in on a 20% stake in Vodafone Egypt?                        <\/a>\r\n                    <\/h3>\r\n\r\n                    \r\n\t\t\t\t\t\n<div class=\"cta\">\n    <div class=\"cta__btn share-dropdown-cta dropdown-toggle-btn\" style=\"position:relative\">\n        <img decoding=\"async\" src=\"https:\/\/ent.news\/internal\/408834.svg\" alt=\"\">\n        Share Story\n        <!-- Dropdown Menu -->\n        <ul class=\"share-menu\">\n            <li class=\"list-inline-item\">\n                <a href=\"https:\/\/enterpriseam.com\/egypt\/2022\/11\/24\/is-the-qatari-sovereign-fund-closing-in-on-a-20-stake-in-vodafone-egypt\/\" target=\"_blank\">\n                    Open in new tab                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/new-tab.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a href=\"#\" target=\"_blank\" onclick=\"event.preventDefault(); navigator.clipboard.writeText('https:\/\/enterpriseam.com\/egypt\/2022\/11\/24\/is-the-qatari-sovereign-fund-closing-in-on-a-20-stake-in-vodafone-egypt\/')\">\n                    Copy Link                <\/a>\n\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a target=\"_blank\" href=\"https:\/\/www.facebook.com\/sharer.php?u=https:\/\/enterpriseam.com\/egypt\/2022\/11\/24\/is-the-qatari-sovereign-fund-closing-in-on-a-20-stake-in-vodafone-egypt\/\">\n                    Facebook                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/facebook-icon2.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a target=\"_blank\" href=\"https:\/\/x.com\/intent\/post?text=Is the Qatari sovereign fund closing in on a 20% stake in Vodafone Egypt?&url=https:\/\/enterpriseam.com\/egypt\/2022\/11\/24\/is-the-qatari-sovereign-fund-closing-in-on-a-20-stake-in-vodafone-egypt\/\">\n                    X                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/twitter-icon.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a target=\"_blank\" href=\"https:\/\/www.linkedin.com\/shareArticle?mini=true&url=https:\/\/enterpriseam.com\/egypt\/2022\/11\/24\/is-the-qatari-sovereign-fund-closing-in-on-a-20-stake-in-vodafone-egypt\/&title=Is the Qatari sovereign fund closing in on a 20% stake in Vodafone Egypt?\">\n                    LinkedIn                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/linkedin-icon.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a href=\"https:\/\/api.whatsapp.com\/send?text=Is+the+Qatari+sovereign+fund+closing+in+on+a+20%25+stake+in+Vodafone+Egypt%3F+https%3A%2F%2Fenterpriseam.com%2Fegypt%2F2022%2F11%2F24%2Fis-the-qatari-sovereign-fund-closing-in-on-a-20-stake-in-vodafone-egypt%2F\">\n                    WhatsApp                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/whatsapp-icon.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n        <\/ul>\n    <\/div>\n        <\/div>\r\n                    \r\n                <\/div>\r\n\r\n            \r\n            <div class=\"story__body\">\r\n\r\n                <a href=\"https:\/\/enterpriseam.com\/egypt\/2022\/11\/24\/is-the-qatari-sovereign-fund-closing-in-on-a-20-stake-in-vodafone-egypt\/\">\r\n                    <div class=\"photo photo--above\">\r\n                        <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2022\/11\/381.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"577483\" data-permalink=\"https:\/\/enterpriseam.com\/egypt\/2022\/11\/24\/is-the-qatari-sovereign-fund-closing-in-on-a-20-stake-in-vodafone-egypt\/381-jpg-15\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2022\/11\/381.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"381.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2022\/11\/381.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2022\/11\/381.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-577482\" class=\"content-area-description single-story post-577482 post type-post status-publish format-standard has-post-thumbnail hentry category-ma-watch tag-adq tag-enterpriseam tag-ma-watch tag-pif tag-qia tag-saudi-telecom-company tag-telecom-egypt tag-vodafone-egypt 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>Are talks between TE and Qatar\u2019s sovereign fund over Vodafone Egypt <\/strong><strong>hotting <\/strong><strong>up? <\/strong>The Qatar Investment Authority\u2019s (QIA) talks with Telecom Egypt over the potential purchase of a 20% stake in Vodafone Egypt have \u201caccelerated\u201d and could close \u201cvery soon,\u201d <a href=\"https:\/\/bit.ly\/3V2Ge7c\">Bloomberg Asharq<\/a> reports, citing two sources it says are in the know.<\/p>\n<p><strong>The Qataris are reportedly offering more than USD 1 bn for the 20% stake<\/strong>, according to the news outlet, valuing Vodafone Egypt at USD 5 bn at least. That\u2019s more than South Africa\u2019s Vodacom is paying for its <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/b47597a0-70d6-4847-8152-a200afcf370b\">ongoing acquisition of a 55% stake<\/a> in Vodafone Egypt from Vodafone Plc, which values the company at around EUR 4.25 bn (USD 4.4 bn). That transaction is still <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/87f9688c-5c34-4868-a9bb-8feffce19782\">waiting on approval<\/a> from Egyptian regulators.<\/p>\n<p><strong>REFRESHER- <\/strong>QIA and the national telecoms provider have reportedly been in talks over the transaction since September, as the Qatari sovereign fund looks to invest <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/23c6426c-0b5d-4302-aeb2-74226e86a276\">as much as USD 2.5 bn<\/a> to purchase state-held stakes in unlisted companies. The EGX-listed telecoms giant holds a 45% stake in Vodafone Egypt and the government owns 80% of TE.<\/p>\n<p><strong>QIA isn\u2019t the only interested party: <\/strong>TE is in talks with three Arab sovereign funds to divest part of its stake in Vodafone Egypt, though the telecoms giant has yet to receive any official bids, a source close to the matter previously confirmed to Enterprise. We\u2019ve previously <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/c348db4f-7247-4ed9-a87a-4020be90920e\">reported<\/a> that QIA, Saudi Arabia\u2019s Public Investment Fund, and Abu Dhabi\u2019s ADQ are all in talks with the government over a piece of Vodafone Egypt. TE could come to an agreement with one of the Arab sovereign funds by the end of the year, our source said.<\/p>\n<p><strong>This could still take some time: <\/strong>QIA earlier this month <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/f72cd713-290a-4932-b374-56c1dbdcc856\">deposited USD 1 bn<\/a> with the Central Bank of Egypt as a stop-gap while it completes due diligence and finalizes agreements on potential stake buys.<\/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\/adq\/\">ADQ<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/ma-watch\/\">M&amp;A Watch<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/pif\/\">PIF<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/qia\/\">QIA<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/saudi-telecom-company\/\">Saudi Telecom Company<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/telecom-egypt\/\">Telecom Egypt<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/vodafone-egypt\/\">Vodafone Egypt<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                    <\/div>\n    <\/div>\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"577484\" 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=\"577484\">\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\">Policy<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2022\/11\/24\/the-cbes-exit-from-the-subsidized-loan-programs-isnt-going-down-well-with-some-industry-figures\/\">\r\n                            The CBE\u2019s exit from the subsidized loan programs isn\u2019t going down well with some industry figures                        <\/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\/24\/the-cbes-exit-from-the-subsidized-loan-programs-isnt-going-down-well-with-some-industry-figures\/\" 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\/24\/the-cbes-exit-from-the-subsidized-loan-programs-isnt-going-down-well-with-some-industry-figures\/')\">\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\/24\/the-cbes-exit-from-the-subsidized-loan-programs-isnt-going-down-well-with-some-industry-figures\/\">\n                    Facebook                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/facebook-icon2.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a target=\"_blank\" href=\"https:\/\/x.com\/intent\/post?text=The CBE\u2019s exit from the subsidized loan programs isn\u2019t going down well with some industry figures&url=https:\/\/enterpriseam.com\/egypt\/2022\/11\/24\/the-cbes-exit-from-the-subsidized-loan-programs-isnt-going-down-well-with-some-industry-figures\/\">\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\/24\/the-cbes-exit-from-the-subsidized-loan-programs-isnt-going-down-well-with-some-industry-figures\/&title=The CBE\u2019s exit from the subsidized loan programs isn\u2019t going down well with some industry figures\">\n                    LinkedIn                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/linkedin-icon.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a href=\"https:\/\/api.whatsapp.com\/send?text=The+CBE%E2%80%99s+exit+from+the+subsidized+loan+programs+isn%E2%80%99t+going+down+well+with+some+industry+figures+https%3A%2F%2Fenterpriseam.com%2Fegypt%2F2022%2F11%2F24%2Fthe-cbes-exit-from-the-subsidized-loan-programs-isnt-going-down-well-with-some-industry-figures%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\/24\/the-cbes-exit-from-the-subsidized-loan-programs-isnt-going-down-well-with-some-industry-figures\/\">\r\n                    <div class=\"photo photo--above\">\r\n                        <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2022\/11\/382.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"577485\" data-permalink=\"https:\/\/enterpriseam.com\/egypt\/2022\/11\/24\/the-cbes-exit-from-the-subsidized-loan-programs-isnt-going-down-well-with-some-industry-figures\/382-jpg-13\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2022\/11\/382.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"382.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2022\/11\/382.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2022\/11\/382.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-577484\" class=\"content-area-description single-story post-577484 post type-post status-publish format-standard has-post-thumbnail hentry category-policy tag-egyptian-businessmens-association tag-enterpriseam tag-imf tag-industry tag-policy wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<p><a class=\"content-anchor\" id=\"tldr-story-02\"><\/a> <strong>A decision by the government to end the central bank\u2019s role in subsidizing loans has not <\/strong><strong>been received well by some sections of the business community<\/strong>, with the Egyptian Businessmen\u2019s Association (EBA) and some MPs calling on ministers to rethink their plans.<\/p>\n<p><strong>Refresher:<\/strong> <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/bc99d570-aa53-468e-b000-60de8fa427ff\">A decree<\/a> issued by Prime Minister Moustafa Madbouly earlier this week will see the CBE stop providing funding for subsidized loans, and pass the responsibility to the housing, finance and tourism ministries. The central bank currently backs soft loans for key areas of the economy, including <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/1c4009cb-4933-43f0-a374-f0f317ad5a4a\">construction<\/a>, industry, <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/8feab5ae-e114-4fe8-a488-858b799befa6\">agriculture<\/a> and <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/7556d5f4-f4be-40a0-b383-00d317400ee5\">tourism<\/a>, as well as <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/4250ebc9-8475-4870-a563-a456f694e7f6\">mortgages<\/a> and <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/2b32a76e-edee-488e-bb81-5700f30f1229\">some cars<\/a>. It has allocated hundreds of bns of EGP to financing borrowers in these sectors with loans at an interest rate of 8%.<\/p>\n<p><strong>The IMF wants this to stop:<\/strong> In the weeks leading up to <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/ddd263a4-f28f-47d4-90e2-e93c3db56a26\">last month\u2019s loan agreement<\/a> with the IMF, reports in the press had suggested that ending subsidized loans was one of the conditions attached to fresh financing. Under its 2020 standby loan program, the central bank had <a href=\"https:\/\/www.imf.org\/en\/Publications\/CR\/Issues\/2021\/07\/22\/Arab-Republic-of-Egypt-2021-Article-IV-Consultation-Second-Review-Under-the-Stand-By-462545\">pledged not to renew the programs<\/a> past FY2021-2022 but still hasn\u2019t pulled its support. The IMF argues that providing loans at below-market rates complicates monetary policy, but is willing to allow them to continue provided the costs are borne by the government and not the central bank.<\/p>\n<p><strong>Industry figures aren\u2019t happy:<\/strong> \u201cThe export-led industrial and agricultural sectors will be the ones most negatively impacted by the decision,\u201d said EBA chairman Ali Eissa. \u201cThis decision will push the export-led sectors out from competition on the world markets, cut industrial investments and compel most industrial businesses to lay off workers.\u201d<\/p>\n<p><strong>The EBA appears to have sympathizers in the House:<\/strong> Rep. Mahmoud Essam, who sits on the House Industrial Committee, has called on the government to listen to the industrial committee\u2019s concerns. \u201cMany start-up industrial projects depend on subsidized loans and the halt of these will put them in a serious mess,\u201d he said.<\/p>\n<p><strong>Cue an appeal to the president:<\/strong> The EBA\u2019s industrial, agricultural and tourism committees will meet today to discuss their response to the decree, and will draft a memorandum that will be submitted to the Supreme Investment Council, which is chaired by President El Sisi. The industry body will propose setting up a fund at the Finance Ministry to help fund the loans, and phasing out the central bank\u2019s involvement over the next five years, said Mageddin El Manzlawy, chairman of the EBA\u2019s industrial committee. \u201cMost of the loans are directed to buying raw materials and production inputs and a sudden halt of them will throw companies into a state of disarray,\u201d he said.<\/p>\n<p><strong>They want others on board:<\/strong> The EBA is in talks with the Federation of Egyptian Industries (FEI) and the Chambers of Commerce to form a unified position. The FEI, led by businessman Mohamed El Sewedy, is yet to reveal his position on the issue.<\/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\/egyptian-businessmens-association\/\">Egyptian Businessmen&#039;s Association<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/imf\/\">IMF<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/industry\/\">industry<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/policy\/\">policy<\/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=\"577486\" 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=\"577486\">\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\">Economy<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2022\/11\/24\/egp-most-vulnerable-em-currency-says-nomura\/\">\r\n                            EGP most vulnerable EM currency, says Nomura                        <\/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\/24\/egp-most-vulnerable-em-currency-says-nomura\/\" 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\/24\/egp-most-vulnerable-em-currency-says-nomura\/')\">\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\/24\/egp-most-vulnerable-em-currency-says-nomura\/\">\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=EGP most vulnerable EM currency, says Nomura&url=https:\/\/enterpriseam.com\/egypt\/2022\/11\/24\/egp-most-vulnerable-em-currency-says-nomura\/\">\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\/24\/egp-most-vulnerable-em-currency-says-nomura\/&title=EGP most vulnerable EM currency, says Nomura\">\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=EGP+most+vulnerable+EM+currency%2C+says+Nomura+https%3A%2F%2Fenterpriseam.com%2Fegypt%2F2022%2F11%2F24%2Fegp-most-vulnerable-em-currency-says-nomura%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\/24\/egp-most-vulnerable-em-currency-says-nomura\/\">\r\n                    <div class=\"photo photo--above\">\r\n                        <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2022\/11\/383.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"577487\" data-permalink=\"https:\/\/enterpriseam.com\/egypt\/2022\/11\/24\/egp-most-vulnerable-em-currency-says-nomura\/383-jpg-12\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2022\/11\/383.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"383.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2022\/11\/383.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2022\/11\/383.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-577486\" class=\"content-area-description single-story post-577486 post type-post status-publish format-standard has-post-thumbnail hentry category-economy tag-currencies tag-economy tag-egp tag-emerging-markets tag-enterpriseam wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<p><a class=\"content-anchor\" id=\"tldr-story-03\"><\/a> <strong>The EGP might not be out of the woods yet:<\/strong> Japanese bank <a href=\"https:\/\/www.nomura.com\">Nomura<\/a> thinks that Egypt is the most vulnerable emerging-market country to a currency crisis over the next 12 months, according to a <a href=\"https:\/\/www.nomuraconnects.com\/focused-thinking-posts\/damocles-our-early-warning-indicator-of-em-exchange-rate-crises-2\/\">report<\/a>. Egypt is ranked highest of the 32 EM nations included on the bank\u2019s Damocles Index, indicating a strong chance that the country will suffer an exchange-rate crisis in the coming months.<\/p>\n<p><strong>The sword:<\/strong> Nomura describes its Damocles Index as an \u201cearly warning model of EM exchange rate crises.\u201d It uses eight indicators \u2014 focusing on FX reserves, debt levels, the exchange rate and capital inflows \u2014 to produce a score. Anything over 100 signifies a 64% chance that the will experience an exchange rate crisis in the following 12 months, the bank says.<\/p>\n<p><strong>Egypt is currently significantly higher than that:<\/strong> Nomura gave Egypt a score of 165 in the latest index, joining six other countries on the bank\u2019s most-vulnerable list, among which are Romania (145), Sri Lanka (138),Turkey (138) and Pakistan (120). \u201cThough the currencies of Egypt, Sri Lanka, Turkey and Pakistan have depreciated sharply in the last 12 months, Damocles indicates that they are not yet out of the woods due to their still-weak economic fundamentals including high inflation,\u201d the bank wrote.<\/p>\n<p><strong>The EGP has already seen a significant drop in value this year:<\/strong> The EGP has fallen to a record low against the USD this year as tightening financial conditions and spillover effects from the war in Ukraine hit Egypt\u2019s external position. The currency has been one of the world\u2019s worst-performing currencies, tumbling 56% against the USD since March after the central bank twice devalued the currency. Since the central bank <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/ddd263a4-f28f-47d4-90e2-e93c3db56a26\">announced a floating exchange rate<\/a> at the end of October, the currency has fallen 24.5% and has continued to gradually slide through November.<\/p>\n<p><strong>The float, together with the reassurance of a new IMF program, has begun to bring <\/strong><strong>foreign currency back into the country<\/strong> \u2014 at least into the stock market, which has surged almost 20% since the central bank\u2019s announcement last month. Data released in the coming months will give us an idea of the impact on the local bond market and the current account.<\/p>\n<p><strong>The Damocles Index doesn\u2019t paint a good picture for EM:<\/strong> Most countries listed on the index saw their currency risks rise, with the aggregate score rising sharply to 2,234 from 1,744 in the previous update in May. \u201cThis is the highest aggregate score since July 1999 and is not too far from the peak of 2,692 during the height of the Asian crisis, an ominous warning sign of the growing broad-based risk in EM currencies,\u201d the bank wrote.<\/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\/currencies\/\">currencies<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/economy\/\">economy<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/egp\/\">EGP<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/emerging-markets\/\">emerging markets<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                    <\/div>\n    <\/div>\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"577488\" 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=\"577488\">\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\">Cabinet watch<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2022\/11\/24\/cabinet-approves-plans-for-ip-authority\/\">\r\n                            Cabinet approves plans for IP Authority                        <\/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\/24\/cabinet-approves-plans-for-ip-authority\/\" 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\/24\/cabinet-approves-plans-for-ip-authority\/')\">\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\/24\/cabinet-approves-plans-for-ip-authority\/\">\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=Cabinet approves plans for IP Authority&url=https:\/\/enterpriseam.com\/egypt\/2022\/11\/24\/cabinet-approves-plans-for-ip-authority\/\">\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\/24\/cabinet-approves-plans-for-ip-authority\/&title=Cabinet approves plans for IP Authority\">\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=Cabinet+approves+plans+for+IP+Authority+https%3A%2F%2Fenterpriseam.com%2Fegypt%2F2022%2F11%2F24%2Fcabinet-approves-plans-for-ip-authority%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\/24\/cabinet-approves-plans-for-ip-authority\/\">\r\n                    <div class=\"photo photo--above\">\r\n                        <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2022\/11\/384.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"577489\" data-permalink=\"https:\/\/enterpriseam.com\/egypt\/2022\/11\/24\/cabinet-approves-plans-for-ip-authority\/384-jpg-4\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2022\/11\/384.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"384.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2022\/11\/384.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2022\/11\/384.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-577488\" class=\"content-area-description single-story post-577488 post type-post status-publish format-standard has-post-thumbnail hentry category-cabinet-watch tag-building-code tag-cabinet-watch tag-egyptian-intellectual-property-authority tag-enterpriseam tag-intellectual-property tag-legislation tag-policy wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<p><a class=\"content-anchor\" id=\"tldr-story-04\"><\/a> <strong>Ministers approved a draft bill that would establish the Egyptian Intellectual <\/strong><strong>Property Authority<\/strong>, a public body to regulate and protect intellectual property rights in the country, cabinet said in <a href=\"http:\/\/bit.ly\/3V5yDoA\">a statement<\/a> following its weekly meeting yesterday.<\/p>\n<p><strong>The authority is key to the government\u2019s new five-year intellectual property strategy<\/strong> which was <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/69a333e7-9848-43ac-bff4-717a4c97f3e9\">announced in September<\/a> as part of broader efforts to improve business conditions, strengthen the private sector and boost innovation. The authority would be tasked with preparing and overseeing the implementation of the strategy, coordinating policy making, and raising awareness of IP rights among businesses and researchers. The authority is expected to launch in 2024.<\/p>\n<p><strong>Also approved at yesterday\u2019s meeting:<\/strong><\/p>\n<p><strong>#1- Tougher measures to curb building violations:<\/strong> Cabinet approved legal amendments that would allow authorities to disconnect electricity, water and gas connections to buildings illegally built on agricultural or state land.<\/p>\n<p><strong>#2- The mystery Forward Egypt company that is manufacturing footballs for the World <\/strong><strong>Cup is getting its own freezone in Tenth of Ramadan city.<\/strong> The zone will have three factories for the manufacture of footballs, sports shoes, and sportswear with a capital of USD 10 mn and investment costs estimated at USD 22 mn. We\u2019ve been unable to find any information about this company but according to the government it is the only factory approved by Adidas in the Middle East.<\/p>\n<p><strong>#3- More power for the EMA:<\/strong> Ministers approved a draft bill to restructure the Egyptian Meteorological Authority (EMA) as a public body that manages and provides meteorological services and provides general policy in the field nationwide.<\/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\/building-code\/\">building code<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/cabinet-watch\/\">cabinet watch<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/egyptian-intellectual-property-authority\/\">Egyptian Intellectual Property Authority<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/intellectual-property\/\">intellectual property<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/legislation\/\">legislation<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/policy\/\">policy<\/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=\"577490\" 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=\"577490\">\r\n            \r\n                <div class=\"issue-story-header text-center\">\r\n                    <div class=\"index-number\">6<\/div>\r\n\r\n                    <p class=\"f-graphik\">Moves<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2022\/11\/24\/hisham-ezz-al-arab-resigns-as-cbe-advisor-following-cib-return\/\">\r\n                            Hisham Ezz Al Arab resigns as CBE advisor following CIB return                        <\/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\/24\/hisham-ezz-al-arab-resigns-as-cbe-advisor-following-cib-return\/\" 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\/24\/hisham-ezz-al-arab-resigns-as-cbe-advisor-following-cib-return\/')\">\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\/24\/hisham-ezz-al-arab-resigns-as-cbe-advisor-following-cib-return\/\">\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=Hisham Ezz Al Arab resigns as CBE advisor following CIB return&url=https:\/\/enterpriseam.com\/egypt\/2022\/11\/24\/hisham-ezz-al-arab-resigns-as-cbe-advisor-following-cib-return\/\">\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\/24\/hisham-ezz-al-arab-resigns-as-cbe-advisor-following-cib-return\/&title=Hisham Ezz Al Arab resigns as CBE advisor following CIB return\">\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=Hisham+Ezz+Al+Arab+resigns+as+CBE+advisor+following+CIB+return+https%3A%2F%2Fenterpriseam.com%2Fegypt%2F2022%2F11%2F24%2Fhisham-ezz-al-arab-resigns-as-cbe-advisor-following-cib-return%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\/24\/hisham-ezz-al-arab-resigns-as-cbe-advisor-following-cib-return\/\">\r\n                    <div class=\"photo photo--above\">\r\n                        <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2022\/11\/387.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"577491\" data-permalink=\"https:\/\/enterpriseam.com\/egypt\/2022\/11\/24\/hisham-ezz-al-arab-resigns-as-cbe-advisor-following-cib-return\/387-jpg-7\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2022\/11\/387.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"387.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2022\/11\/387.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2022\/11\/387.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-577490\" class=\"content-area-description single-story post-577490 post type-post status-publish format-standard has-post-thumbnail hentry category-moves tag-banking tag-capgemini tag-cib tag-cit tag-enterpriseam tag-hisham-ezz-al-arab tag-moves wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<p><strong>Our friend Hisham Ezz Al Arab has resigned from his post as an advisor to CBE <\/strong><strong>Governor Hassan Abdalla<\/strong> in the wake of his <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/5d8cb4de-36f5-4e54-bf9c-6b2c2bd34b6f\">return to CIB\u2019s board<\/a> as non-executive director, he told <a href=\"http:\/\/bit.ly\/3AHpGd0\">Al Arabiya<\/a>. Ezz Al Arab said he plans to help CIB implement the bank\u2019s plans in the coming period. Asked about media reports suggesting he could return to the top job next year, he said he cannot talk about his future and stressed his focus on his duties as a board member.<\/p>\n<p><strong>Communications platform provider <\/strong><strong><a href=\"https:\/\/www.cequens.com\">Cequens<\/a><\/strong><strong> has hired five new executives <\/strong>as part of a five-year expansion plan, according to a <a href=\"https:\/\/ent.news\/2022\/11\/CEQUENS-New-Hires-Press-Release.pdf\">company statement (pdf)<\/a>:<\/p>\n<ul>\n<li><strong>Ahmed Shabrawy <\/strong>(<a href=\"https:\/\/www.linkedin.com\/in\/ahmedelshabrawy\">LinkedIn<\/a>) was appointed <strong>chief research and innovation officer<\/strong>; <\/li>\n<li><strong>Hussein Malhas <\/strong>(<a href=\"https:\/\/www.linkedin.com\/in\/hussein-malhas-484ba031\/\">LinkedIn<\/a>) is the company\u2019s new <strong>VP of growth and revenue operations<\/strong>;<\/li>\n<li><strong>Yara Milbes<\/strong> (<a href=\"https:\/\/www.linkedin.com\/in\/yara-milbes-96734917\/\">LinkedIn<\/a>) was appointed <strong>VP of global marketing<\/strong>; <\/li>\n<li><strong>Nermeen Sobhy <\/strong>(<a href=\"https:\/\/www.linkedin.com\/in\/nermeen-sobhy-55255510\/\">LinkedIn<\/a>) is the new <strong>VP of carrier relations<\/strong>; <\/li>\n<li><strong>Muhammed Nauman <\/strong>(<a href=\"https:\/\/www.linkedin.com\/in\/muhammadnauman01\/\">LinkedIn<\/a>) was appointed <strong>VP of operations. <\/strong><\/li>\n<\/ul>\n<p><strong>Hossam Seifeldin<\/strong> was appointed the <strong>Egypt CEO<\/strong> of French consulting firm <strong>Capgemini<\/strong>, according to a <a href=\"https:\/\/ent.news\/2022\/11\/Press-Release-Capgemini-New-CEO-Egypt-GDC.pdf\">company statement (pdf)<\/a>. Seifeldin has years of experience in the tech sector, and worked at IBM for 27 years prior to joining the firm.<\/p>\n<p><strong>Amany El Wesal<\/strong> was appointed to head the <strong>Trade Ministry\u2019s anti-dumping policy unit<\/strong>, sources at the ministry reportedly told <a href=\"https:\/\/www.alborsaanews.com\/2022\/11\/23\/1601049\">Al Borsa<\/a>. El Wesal, who heads the Export Development Fund, will replace Ibrahim El Seginy, who will maintain his position as assistant minister for economic affairs and the head of the trade remedies sector.<\/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\/banking\/\">banking<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/capgemini\/\">Capgemini<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/cib\/\">CIB<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/cit\/\">CIT<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/hisham-ezz-al-arab\/\">Hisham Ezz Al Arab<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/moves\/\">moves<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                    <\/div>\n    <\/div>\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"577492\" 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=\"577492\">\r\n            \r\n            <div class=\"story__body\">\r\n\r\n                <a href=\"https:\/\/enterpriseam.com\/egypt\/2022\/11\/24\/577492\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-577492\" class=\"content-area-description single-story post-577492 post type-post status-publish format-standard hentry category-uncategorized wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<p class=\"web-image\"><a href=\"https:\/\/www.sodic.com\/\"><img data-recalc-dims=\"1\" decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2022\/7\/Sodic-25_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=\"577493\" 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=\"577493\">\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\/24\/japans-stunning-win-against-germany-gets-attention-on-the-airwaves\/\">\r\n                            Japan\u2019s stunning win against Germany gets attention on the airwaves                        <\/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\/24\/japans-stunning-win-against-germany-gets-attention-on-the-airwaves\/\" 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\/24\/japans-stunning-win-against-germany-gets-attention-on-the-airwaves\/')\">\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\/24\/japans-stunning-win-against-germany-gets-attention-on-the-airwaves\/\">\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=Japan\u2019s stunning win against Germany gets attention on the airwaves&url=https:\/\/enterpriseam.com\/egypt\/2022\/11\/24\/japans-stunning-win-against-germany-gets-attention-on-the-airwaves\/\">\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\/24\/japans-stunning-win-against-germany-gets-attention-on-the-airwaves\/&title=Japan\u2019s stunning win against Germany gets attention on the airwaves\">\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=Japan%E2%80%99s+stunning+win+against+Germany+gets+attention+on+the+airwaves+https%3A%2F%2Fenterpriseam.com%2Fegypt%2F2022%2F11%2F24%2Fjapans-stunning-win-against-germany-gets-attention-on-the-airwaves%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\/24\/japans-stunning-win-against-germany-gets-attention-on-the-airwaves\/\">\r\n                    <div class=\"photo photo--above\">\r\n                        <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2022\/11\/388.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"577494\" data-permalink=\"https:\/\/enterpriseam.com\/egypt\/2022\/11\/24\/japans-stunning-win-against-germany-gets-attention-on-the-airwaves\/388-jpg-16\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2022\/11\/388.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"388.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2022\/11\/388.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2022\/11\/388.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-577493\" class=\"content-area-description single-story post-577493 post type-post status-publish format-standard has-post-thumbnail hentry category-last-nights-talk-shows tag-enterpriseam tag-germany tag-japan 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>Football continued to dominate proceedings on the airwaves last night<\/strong> \u2014 and expect this to continue all the way through to 18 December when the tournament ends.<\/p>\n<p><strong>Most of the talking heads focused on Germany\u2019s shock defeat by Japan:<\/strong> Comparisons with Saudi Arabia\u2019s stunning win against Argentina on Tuesday were made, and most of the hosts didn't try to hide their happiness at the German loss. Ala Mas\u2019ouleety (<a href=\"https:\/\/www.youtube.com\/watch?v=lzQzfdaDW_8\">watch, runtime: 4:04<\/a>) and Al Hayah Al Youm (<a href=\"https:\/\/www.youtube.com\/watch?v=Y8d3lbbkRuw\">watch, runtime: 8:59<\/a>) both recapped the game, while Masaa DMC dedicated airtime both to the Japanese fans cleaning seats after the game (<a href=\"https:\/\/www.youtube.com\/watch?v=71ONWqZCLzA\">watch, runtime: 9:28<\/a>) and the German team\u2019s pre-match <a href=\"https:\/\/www.politico.eu\/article\/germanys-football-players-cover-mouths-during-team-photo-to-protest-fifas-ban-of-pro-lgbtq-armband\/\">silent protest<\/a> against Fifa\u2019s decision to <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/44b5170e-4c27-4073-a613-659765a80dc7\">ban the OneLove armbands<\/a>. \u201cI don\u2019t understand why there\u2019s an abnormal Western push for such a thing,\u201d show host Ramy Radwan said, voicing opposition to LGBTQ rights (<a href=\"https:\/\/www.youtube.com\/watch?v=TvBYhK69gAo\">watch, runtime: 4:03<\/a>).<\/p>\n<p><strong>MEANWHILE- Not many businesses have signed up to the government\u2019s e-invoicing <\/strong><strong>system: <\/strong>Only 150k companies have registered on the e-invoice system ahead of a 15 December <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/9bddae94-3bbf-4df8-8679-636e904e6e91\">deadline<\/a>, Tax Authority Deputy Head Rasha Abd El Aal told Al Hayah Al Youm (<a href=\"https:\/\/www.youtube.com\/watch?v=SXzrJnSjOHs\">watch, runtime: 11:25<\/a>). Around 1 mn companies will be required to start issuing electronic invoices for B2B and B2C transactions via the government portal from the middle of next month.<\/p>\n<p><strong>What e-invoicing system? <\/strong>The government is working to digitize all B2B and B2C invoices, a move designed to give the government greater oversight over tax and reduce the size of the informal economy. The Tax Authority<a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/99a6ca73-945a-43a8-9bb3-70e01e484a6c\"><\/a><a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/99a6ca73-945a-43a8-9bb3-70e01e484a6c\">launched a pilot<\/a> in late 2020 and has been gradually extending the system since then. All B2B and B2C invoices across the country are expected to be fully automated by<a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/18d53df7-c601-478e-8d52-5674b63b988f\"><\/a><a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/18d53df7-c601-478e-8d52-5674b63b988f\">December<\/a>.<\/p>\n<p><strong>Almost 20k expats have registered on the government\u2019s app to <\/strong><strong><a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/d46b1f72-d632-41ab-bab8-364dacf0db4a\">import cars to Egypt<\/a><\/strong> since it launched on 15 November, Tax Authority spokesperson Ali Galal told Masaa DMC (<a href=\"https:\/\/www.youtube.com\/watch?v=ot0DbA5FJTM\">watch, runtime: 9:09<\/a>). Some 1.7k people have obtained a payment order, with total orders estimated at USD 25.8 mn, Galal said, adding that USD 1.3 mn has been already transferred to a set up bank account by the government.<\/p>\n<p><strong>ICYMI-<\/strong> The government is trying to draw more foreign currency into Egypt by incentivizing expats to import cars. Expats will receive rebates on all customs and import taxes within five years provided they pay them up from in hard currency. The scheme has a four-month window, with expats allowed to import cars within a year of obtaining necessary approvals on USD payments. The government had originally said the scheme will pave the way for 300k-500k cars being imported, drawing USD 2.5 bn in foreign currency in the process, yet officials have <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/288d3d66-9d20-4217-8bac-8d86c37865c1\">recently backtracked<\/a>on the<a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/30f774c7-53ed-44fb-b8cc-2cbd3b37fa9e\">ambitious targets<\/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\/germany\/\">Germany<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/japan\/\">Japan<\/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=\"577495\" class=\"issue-section \">\n<div class=\"issue-section__content\">\n<div class=\"stories\">      \r\n<section id=\"advertiser\" class=\"enterprise-adv issue-section\">\r\n    <div class=\"issue-section__content\" style=\"flex-direction: column;\">\r\n  \r\n                <h4 class=\"wp-block-heading has-text-align-center has-normal-font-size\">\r\n                <span class=\"has-primary-color stk-highlight\">This publication is proudly sponsored by<\/span><\/h4>\r\n                \r\n\r\n                \r\n                <div class=\"wp-block-stackable-carousel alignwide stk-block-carousel stk--is-slide stk--infinite-scroll stk--arrows-justify-space-between stk--arrows-align-center stk-block stk-a38cfb2 sponsor-slider-container mb-0\" data-slides-to-show=\"3\" data-block-id=\"a38cfb2\"><style>.stk-a38cfb2 {--slides-to-show:3 !important;}.stk-a38cfb2 .stk-block-carousel__button{background:#00000099 !important;fill:#FFFFFF !important;border-radius:4px !important;}.stk-a38cfb2 .stk-block-carousel__button svg.ugb-custom-icon :is(g, path, rect, polygon, ellipse){fill:#FFFFFF !important;}<\/style>\r\n                <div class=\"stk-block-carousel__content-wrapper\">\r\n                <div class=\"stk-row stk-inner-blocks stk-block-content stk-block-carousel__slider-wrapper stk-content-align stk-a38cfb2-column alignwide\">\r\n                <div class=\"stk-block-carousel__slider\" role=\"list\" data-autoplay=\"4000\" data-label-slide-of=\"Slide %%d of %%d\">\r\n            <div class=\"wp-block-stackable-column stk-block-column stk-column stk-block stk-46c5f99\" data-v=\"4\" 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draggable=\"false\" src=\"https:\/\/i0.wp.com\/ent.news\/internal\/27483.png?fit=300%2C300&#038;ssl=1\" alt=\"\">\r\n                    <\/a>\r\n                    <span>Powering with nature<\/span>\r\n                <\/div>\r\n            <\/div>\r\n            <\/div><\/div><\/div>\r\n        \r\n            <div class=\"wp-block-stackable-column stk-block-column stk-column stk-block stk-hazxudb\" data-v=\"4\" data-block-id=\"hazxudb\"><div class=\"stk-column-wrapper stk-block-column__content stk-container stk-hazxudb-container stk--no-background stk--no-padding\"><div class=\"stk-block-content stk-inner-blocks stk-hazxudb-inner-blocks\">\r\n            <div class=\"issue-sponsor-slide\">\r\n                <img data-recalc-dims=\"1\" decoding=\"async\" draggable=\"false\" src=\"https:\/\/i0.wp.com\/ent.news\/internal\/240926.jpg?ssl=1\">\r\n                <div class=\"overlay\"><\/div>\r\n                <div class=\"content\">\r\n                    <a draggable=\"false\" href=\"https:\/\/www.qalaaholdings.com\/\" target=\"_blank\" class=\"logo\" rel=\"noopener\">\r\n                        <img decoding=\"async\" draggable=\"false\" src=\"https:\/\/ent.news\/internal\/110691.svg\" alt=\"\">\r\n                    <\/a>\r\n                    <span>Driving growth<\/span>\r\n                <\/div>\r\n            <\/div>\r\n            <\/div><\/div><\/div>\r\n        <\/div><div class=\"stk-block-carousel__buttons\"><button class=\"stk-block-carousel__button stk-block-carousel__button__prev\" aria-label=\"Previous slide\"><svg aria-hidden=\"true\" focusable=\"false\" data-prefix=\"fas\" data-icon=\"chevron-left\" class=\"svg-inline--fa fa-chevron-left\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" viewBox=\"0 0 320 512\" width=\"32\" height=\"32\"><path d=\"M34.52 239.03L228.87 44.69c9.37-9.37 24.57-9.37 33.94 0l22.67 22.67c9.36 9.36 9.37 24.52.04 33.9L131.49 256l154.02 154.75c9.34 9.38 9.32 24.54-.04 33.9l-22.67 22.67c-9.37 9.37-24.57 9.37-33.94 0L34.52 272.97c-9.37-9.37-9.37-24.57 0-33.94z\"><\/path><\/svg><\/button><button class=\"stk-block-carousel__button stk-block-carousel__button__next\" aria-label=\"Next slide\"><svg aria-hidden=\"true\" focusable=\"false\" data-prefix=\"fas\" data-icon=\"chevron-right\" class=\"svg-inline--fa fa-chevron-right\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" viewBox=\"0 0 320 512\" width=\"32\" height=\"32\"><path d=\"M285.476 272.971L91.132 467.314c-9.373 9.373-24.569 9.373-33.941 0l-22.667-22.667c-9.357-9.357-9.375-24.522-.04-33.901L188.505 256 34.484 101.255c-9.335-9.379-9.317-24.544.04-33.901l22.667-22.667c9.373-9.373 24.569-9.373 33.941 0L285.475 239.03c9.373 9.372 9.373 24.568.001 33.941z\"><\/path><\/svg><\/button><\/div><\/div><div class=\"stk-block-carousel__dots\" role=\"list\" data-label=\"Slide %%d\"><\/div><\/div><\/div>\r\n        <\/div>\r\n<\/section> \r\n\r\n\n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"577496\" 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=\"577496\">\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\/24\/egx-melt-up-receives-coverage-in-bloomberg\/\">\r\n                            EGX melt-up receives coverage in Bloomberg                        <\/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\/24\/egx-melt-up-receives-coverage-in-bloomberg\/\" 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\/24\/egx-melt-up-receives-coverage-in-bloomberg\/')\">\n                    Copy Link                <\/a>\n\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a target=\"_blank\" 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class=\"story__body\">\r\n\r\n                <a href=\"https:\/\/enterpriseam.com\/egypt\/2022\/11\/24\/egx-melt-up-receives-coverage-in-bloomberg\/\">\r\n                    <div class=\"photo photo--above\">\r\n                        <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2022\/11\/389.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"577497\" data-permalink=\"https:\/\/enterpriseam.com\/egypt\/2022\/11\/24\/egx-melt-up-receives-coverage-in-bloomberg\/389-jpg-12\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2022\/11\/389.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"389.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2022\/11\/389.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2022\/11\/389.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-577496\" class=\"content-area-description single-story post-577496 post type-post status-publish format-standard has-post-thumbnail hentry category-egypt-in-the-news tag-egx tag-enterpriseam tag-financial-markets wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<p><strong>On a slow morning in the foreign press, the EGX\u2019s bull run is getting attention<\/strong> from <a href=\"https:\/\/www.bloomberg.com\/news\/articles\/2022-11-23\/egypt-s-devalued-pound-and-rescue-funds-trigger-stock-frenzy?leadSource=uverify%20wall\">Bloomberg<\/a>, which notes that the benchmark EGX30 has soared 47% from its July low, helped by last month\u2019s <a href=\"https:\/\/enterprise.press\/afternoons\/pm-taweem-3-0-sees-egp-at-23-03-against-the-greenback\/\">currency float<\/a> and announcement of a USD 3 bn IMF bailout.<\/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\/egx\/\">EGX<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/financial-markets\/\">Financial Markets<\/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=\"577498\" class=\"issue-section \">\n<div class=\"issue-section__content\">\n<div class=\"stories\">    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"577499\" 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=\"577499\">\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\/24\/transmin-wants-eur-2-bn-french-loan-to-fund-metro-line-6\/\">\r\n                            TransMin wants EUR 2 bn French loan to fund Metro Line 6                        <\/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\" 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href=\"https:\/\/www.facebook.com\/sharer.php?u=https:\/\/enterpriseam.com\/egypt\/2022\/11\/24\/transmin-wants-eur-2-bn-french-loan-to-fund-metro-line-6\/\">\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=TransMin wants EUR 2 bn French loan to fund Metro Line 6&url=https:\/\/enterpriseam.com\/egypt\/2022\/11\/24\/transmin-wants-eur-2-bn-french-loan-to-fund-metro-line-6\/\">\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\/24\/transmin-wants-eur-2-bn-french-loan-to-fund-metro-line-6\/&title=TransMin wants EUR 2 bn French loan to fund Metro Line 6\">\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=TransMin+wants+EUR+2+bn+French+loan+to+fund+Metro+Line+6+https%3A%2F%2Fenterpriseam.com%2Fegypt%2F2022%2F11%2F24%2Ftransmin-wants-eur-2-bn-french-loan-to-fund-metro-line-6%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\/24\/transmin-wants-eur-2-bn-french-loan-to-fund-metro-line-6\/\">\r\n                    <div class=\"photo photo--above\">\r\n                        <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2022\/11\/392.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"577500\" data-permalink=\"https:\/\/enterpriseam.com\/egypt\/2022\/11\/24\/transmin-wants-eur-2-bn-french-loan-to-fund-metro-line-6\/392-jpg-16\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2022\/11\/392.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"392.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2022\/11\/392.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2022\/11\/392.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-577499\" class=\"content-area-description single-story post-577499 post type-post status-publish format-standard has-post-thumbnail hentry category-also-on-our-radar tag-also-on-our-radar tag-alstom tag-cit tag-enterpriseam tag-legislation-watch tag-senate tag-transport wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<p><strong>Among the other stories we\u2019re paying attention to this morning:<\/strong><\/p>\n<p><a class=\"content-anchor\" id=\"tldr-story-05\"><\/a> <strong>TRANSPORT-<\/strong> The <strong>Transport Ministry<\/strong> is in talks with three unnamed French financial institutions for a <strong>concessional EUR 2 bn loan<\/strong> to fund development works for <strong>Cairo Metro Line 6<\/strong>, sources familiar with the matter reportedly told <a href=\"http:\/\/bit.ly\/3AHtXgp\">Al Mal<\/a>. They said the financing represents half of the line\u2019s total cost, with the remainder being funded by the state budget. The report comes less than a week after French rolling stock manufacturer Alstom <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/0f81d3e2-7d8d-4a5c-af87-5aafcd023056\">signed a framework agreement<\/a> on the sidelines of COP27 with the National Authority for Tunnels to design, build and maintain the line. The French firm didn\u2019t disclose which other companies will work on the project or the value of the contract.<\/p>\n<p><strong>TECH- The <\/strong><strong><a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/28b96e2a-cedc-4100-97fe-69e8fd907e38\">2Africa subsea cable<\/a><\/strong><strong> being laid around Africa has made its first <\/strong><strong>landing in Egypt <\/strong>at Ras Ghareb with another landing set to follow in Port Said, Meta and Telecom Egypt said in a <a href=\"https:\/\/ent.news\/2022\/11\/2Africa-METATE.pdf\">joint press release (pdf)<\/a> Tuesday. The subsea cable, which will be the longest in the world, is being laid by a consortium of global telecom companies, and will significantly upgrade Africa\u2019s broadband and mobile connectivity when it\u2019s finished in 2024. The 45k-km cable will link 46 locations across Africa, Europe and Asia.<\/p>\n<table class=\"subscribe-button\" width=\"98%\" border=\"0\" cellpadding=\"0\" cellspacing=\"0\" style=\"border-spacing:0;border-collapse:collapse;mso-table-lspace:0;mso-table-rspace:0;\">\n<tr>\n<td align=\"center\" style=\"padding-bottom:20px;padding-top:20px;border-collapse:collapse;mso-table-lspace:0;mso-table-rspace:0;\">\n<table border=\"0\" align=\"center\" cellpadding=\"0\" cellspacing=\"0\" style=\"border-spacing:0;border-collapse:collapse;mso-table-lspace:0;mso-table-rspace:0;\">\n<tbody>\n<tr>\n<td align=\"center\" style=\"border-collapse:collapse;mso-table-lspace:0;mso-table-rspace:0;\">\n<table border=\"0\" cellpadding=\"0\" cellspacing=\"0\" style=\"width:220px;border-spacing:0;border-collapse:collapse;mso-table-lspace:0;mso-table-rspace:0;\">\n<tr>\n<td align=\"center\" class=\"button1\" style=\"border-collapse:collapse;mso-table-lspace:0;mso-table-rspace:0;background-color:#299a0b;-moz-border-radius:4px;-webkit-border-radius:4px;border-radius:4px;word-break:break-word;word-wrap:break-word;\"> <a href=\"egypt\/en\/user\/NewsLetters\" style=\"display:block;border-width:1px;padding-top:10px;padding-bottom:10px;padding-right:10px;padding-left:10px;font-family:Arial, sans-serif;font-size:14px;color:#ffffff;font-weight:bold;line-height:16px;text-decoration:none;text-align:center;background-color:#299a0b;background-image:none;background-repeat:repeat;background-position:top left;background-attachment:scroll;border-style:solid;border-color:#299a0b;-moz-border-radius:4px;-webkit-border-radius:4px;border-radius:4px;\">Subscribe to Enterprise<\/a> <\/td>\n<\/tr>\n<\/table>\n<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<\/td>\n<\/tr>\n<\/table>\n<p><strong>BANKING-<\/strong> <strong>The Financial Regulatory Authority<\/strong> has approved <strong>Abu Dhabi Islamic <\/strong><strong>Bank Egypt\u2019<\/strong>s proposed <strong>EGP 1 bn capital increase<\/strong>, it said in <a href=\"https:\/\/ent.news\/2022\/11\/ADIB-Capital-Increase.pdf\">a statement (pdf)<\/a> Monday, allowing the bank to publish an invitation to subscription for existing shareholders. ADIB will offer an additional 100 mn shares at EGP 10 per share to existing investors.<\/p>\n<p><strong>FINANCIAL SERVICES-<\/strong> Jordan trading platform <strong><a href=\"https:\/\/cfifinancial.com\/en-jo\">CFI Financial Group<\/a><\/strong> has acquired Egyptian brokerage <strong><a href=\"https:\/\/www.mahroosa.com\/etrade\/About.aspx\">El Mahrousa for Securities Trading<\/a><\/strong> and plans to launch CFI in Egypt in early 2023, <a href=\"https:\/\/www.alborsaanews.com\/2022\/11\/23\/1601185\">Al Borsa<\/a> reports.<\/p>\n<p><strong>LEGISLATION- <\/strong><strong>The Senate Housing Committee<\/strong> approved <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/3045baa9-e5b2-4a13-a2f2-e1bdab5bc4c6\">legislation<\/a> designed to <strong>accelerate the reconciliation process for illegal buildings<\/strong>.<\/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\/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\/alstom\/\">Alstom<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/cit\/\">CIT<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/legislation-watch\/\">Legislation Watch<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/senate\/\">Senate<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/transport\/\">transport<\/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=\"577503\" 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=\"577503\">\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\/24\/egypt-expresses-concern-at-syria-iraq-strikes\/\">\r\n                            Egypt expresses concern at Syria, Iraq strikes                        <\/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\/24\/egypt-expresses-concern-at-syria-iraq-strikes\/\" 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\/24\/egypt-expresses-concern-at-syria-iraq-strikes\/')\">\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\/24\/egypt-expresses-concern-at-syria-iraq-strikes\/\">\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=Egypt expresses concern at Syria, Iraq strikes&url=https:\/\/enterpriseam.com\/egypt\/2022\/11\/24\/egypt-expresses-concern-at-syria-iraq-strikes\/\">\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\/24\/egypt-expresses-concern-at-syria-iraq-strikes\/&title=Egypt expresses concern at Syria, Iraq strikes\">\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=Egypt+expresses+concern+at+Syria%2C+Iraq+strikes+https%3A%2F%2Fenterpriseam.com%2Fegypt%2F2022%2F11%2F24%2Fegypt-expresses-concern-at-syria-iraq-strikes%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\/24\/egypt-expresses-concern-at-syria-iraq-strikes\/\">\r\n                    <div class=\"photo photo--above\">\r\n                        <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2022\/11\/394.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"577504\" data-permalink=\"https:\/\/enterpriseam.com\/egypt\/2022\/11\/24\/egypt-expresses-concern-at-syria-iraq-strikes\/394-jpg-11\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2022\/11\/394.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"394.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2022\/11\/394.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2022\/11\/394.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-577503\" class=\"content-area-description single-story post-577503 post type-post status-publish format-standard has-post-thumbnail hentry category-diplomacy tag-diplomacy tag-enterpriseam tag-iran tag-politics tag-syria tag-turkey wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<p><strong>Egypt has expressed \u201cgreat concern\u201d at recent attacks on Kurdish groups by <\/strong><strong>Turkey and Iran. <\/strong>In <a href=\"http:\/\/bit.ly\/3Ow3pEx\">a statement<\/a> yesterday, Foreign Ministry spokesperson Ahmed Abu Zeid called on the two countries to halt the attacks which he said were violating the sovereignty of Iraq and Syria. The Turkish military has targeted YPG units in northern Syria in the wake of <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/d75c978f-3cad-43f3-ac0d-44e5d5ab2b0b\">last week\u2019s terror attack<\/a> in Istanbul while Iran has <a href=\"https:\/\/www.reuters.com\/world\/middle-east\/iran-targets-dissident-sites-iraqi-kurdistan-with-missiles-drones-fars-2022-11-21\/\">hit targets<\/a> in Iraqi Kurdistan.<\/p>\n<p><strong>Turkey to launch ground incursion into Syria:<\/strong> Turkish President Recep Tayyip Erdogan yesterday threatened to launch a ground offensive into northern Syria to push the militia back from the border, saying that the recent wave of airstrikes were \u201conly the beginning,\u201d according to <a href=\"https:\/\/www.aa.com.tr\/en\/turkiye\/turkiye-to-launch-syria-ground-operation-against-terrorists-when-convenient-president\/2746092\">Turkish state media<\/a>.<\/p>\n<p><strong>The handshake:<\/strong> This comes just days after President Abdel Fattah El Sisi and Erdogan expressed hopes that the two countries could improve ties after meeting for the first time since El Sisi came to power in 2013. The two <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/f19d96c3-4e7a-429d-a48c-1fdf11b4478a\">were pictured shaking hands<\/a> and conversing on the sidelines of the World Cup in Qatar on Sunday, and the day after both said the meeting could serve as a starting point for improving relations.<\/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\/diplomacy\/\">DIPLOMACY<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/iran\/\">Iran<\/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\/syria\/\">Syria<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/turkey\/\">Turkey<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                    <\/div>\n    <\/div>\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"577505\" 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=\"577505\">\r\n            \r\n                <div class=\"issue-story-header text-center\">\r\n                    <div class=\"index-number\">11<\/div>\r\n\r\n                    <p class=\"f-graphik\">My Morning Routine<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2022\/11\/24\/karim-rogers-executive-director-of-el-alsson-british-and-american-school\/\">\r\n                            Karim Rogers, executive director of El Alsson British and American School                        <\/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\/24\/karim-rogers-executive-director-of-el-alsson-british-and-american-school\/\" 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\/24\/karim-rogers-executive-director-of-el-alsson-british-and-american-school\/')\">\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\/24\/karim-rogers-executive-director-of-el-alsson-british-and-american-school\/\">\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=Karim Rogers, executive director of El Alsson British and American School&url=https:\/\/enterpriseam.com\/egypt\/2022\/11\/24\/karim-rogers-executive-director-of-el-alsson-british-and-american-school\/\">\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\/24\/karim-rogers-executive-director-of-el-alsson-british-and-american-school\/&title=Karim Rogers, executive director of El Alsson British and American School\">\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=Karim+Rogers%2C+executive+director+of+El+Alsson+British+and+American+School+https%3A%2F%2Fenterpriseam.com%2Fegypt%2F2022%2F11%2F24%2Fkarim-rogers-executive-director-of-el-alsson-british-and-american-school%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\/24\/karim-rogers-executive-director-of-el-alsson-british-and-american-school\/\">\r\n                    <div class=\"photo photo--above\">\r\n                        <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2022\/11\/395.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"577506\" data-permalink=\"https:\/\/enterpriseam.com\/egypt\/2022\/11\/24\/karim-rogers-executive-director-of-el-alsson-british-and-american-school\/395-jpg-10\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2022\/11\/395.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"395.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2022\/11\/395.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2022\/11\/395.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-577505\" class=\"content-area-description single-story post-577505 post type-post status-publish format-standard has-post-thumbnail hentry category-my-morning-routine tag-education tag-el-alsson-british-and-american-school tag-enterpriseam tag-my-morning-routine 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-09\"><\/a><strong> Karim Rogers, executive director of El Alsson British and American School:<\/strong> Each week, My Morning Routine looks at how a successful member of the community starts their day \u2014 and then throws in a couple of random business questions just for fun. Speaking to us this week is El Alsson British and American School Executive Director Karim Rogers (<a href=\"https:\/\/www.linkedin.com\/in\/karim-rogers-90930238\/\">LinkedIn<\/a>). Edited excerpts from our conversation:<\/p>\n<p><strong>I'm a father of four. <\/strong>I'm a people person who enjoys being social and active. I enjoy food and travel. Every day at work is different for me; there is no such thing as a routine. There's always something going on at school, and I'm constantly learning new things alongside the students.<\/p>\n<p><strong>I am in charge of all school operations.<\/strong> I have two principals who handle daily education operations with their teams, while I handle operations. I am involved in education, but not in its administration. My responsibilities include finances, human resources, licensing, admissions, buses, medical care, and all operations and resources required to keep the school running. My team includes the CFO, the head of human resources, the marketing and business development teams, as well as the buses and clinics. These are the people I work with every day.<\/p>\n<p><strong>In many schools, the principal is also in charge of operations. <\/strong>We don\u2019t have that. The principal comes into my office and tells me what they require, and I handle it, so they aren't preoccupied with logistics that have nothing to do with them, such as licensing for operations or foreign employees, or where to get the money. Instead, they focus on education quality assurance.<\/p>\n<p><strong>My morning routine is determined by how well I slept the night before because of the kids. <\/strong> I get up and spend some time alone in the morning. I'll go to the club at 6am and do some kind of sport, either jogging, swimming, or going to the gym. I drop my youngest child at the nursery, and my other children take the bus. Then I'm in work mode.<\/p>\n<p><strong>I arrive at the office between 8-8:30am. <\/strong>My favorite thing in the morning is to drink my espresso. I have my own espresso machine and coffee blends. Then my assistant usually has a stack of documents for me to sign. I handle my finances, then I follow up on different departments and our weekly tasks. For example, right now it is admissions season, so I would be dealing with the registrar. I'm not involved in the nitty-gritty of operations. I try to delegate and empower others so that they can get on with the job.<\/p>\n<p><strong>The highlights at school for me are the activities, whether sports, arts, or theater \u2014 I like being a part of it.<\/strong> I try to schedule an hour-long walk around the school every day. I'll go floor by floor through all of the buildings \u2014 early years, primary, and secondary. I have my meet and greet and get to see everyone.<\/p>\n<p><strong>I\u2019m generally a well-organized person. <\/strong>I'm the type who prepares my clothes for the next day at night so I don't have to worry about it in the morning. I keep a to-do list and keep track of what I've accomplished and what I haven't. If I haven't completed all of my tasks, \u200b\u200bI'm disciplined. I'll return home to complete it. I believe that being organized is a requirement of our job. We also need to be easily accessible.<\/p>\n<p><strong>In my line of work. I'm always looking for ways to improve myself.<\/strong> My professional development is a top priority for me and I enjoy attending conferences and taking courses. I always look at the half-empty cup and try to fill it up. I like to think about how I can improve and learn from others. I try my hardest to provide the best possible outcome for our students.<\/p>\n<p><strong>Work-life balance, in my opinion, is a conscious decision that must be made.<\/strong> If I have any work obligations when I return home, I\u2019ll do them. If not, it's either family time or alone time for me. It\u2019s essential for everyone, whether they\u2019re a father, a mother, or a director, to have their alone time. You require time to reflect. Work-life balance is essential to me. I don't believe you should work until 7-8pm every night. I won\u2019t respond to emails or work matters after 5pm unless it\u2019s really urgent.<\/p>\n<p><strong>I enjoy going for a walk in the club after I finish work, <\/strong>or watching my children at their sports training. If it's the weekend, we have our family breakfast or lunch. At night, I catch up on Netflix. I can't keep up with all of the shows, but there are a few that I'm currently watching, like House of Dragons and Suits, and I enjoy cooking shows. I also keep up with my social media, which is fun. I'm not a book reader; I prefer to read articles and journals. I enjoy watching National Geographic and the Discovery channel.<\/p>\n<p><strong>I enjoy both cooking and eating.<\/strong> When I travel, I always research cuisines and the best places to eat before going. I make a point of not only focusing on Michelin-starred restaurants, but also on street food. One of my favorite ways to unwind is to take my wife out to eat, which is great because Egypt has recently become a foodie entertainment hotspot.<\/p>\n<p><strong>The best piece of advice I've always followed is to be patient, listen, and learn. <\/strong>You must be patient because everyone eventually gets their slice of the pie. And in order to lead, you must be an excellent listener. You must also learn from others.<\/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\/education\/\">Education<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/el-alsson-british-and-american-school\/\">El Alsson British and American School<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/my-morning-routine\/\">MY MORNING ROUTINE<\/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=\"577507\" 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\/24\/577507\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-577507\" class=\"content-area-description single-story post-577507 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>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>4 December (Sunday): House back in session.<\/p>\n<p>4 December (Sunday): OPEC+ meeting.<\/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":577478,"menu_order":0,"template":"","categories":[],"tags":[],"class_list":["post-577477","issue","type-issue","status-publish","has-post-thumbnail","hentry","wpautop","entry"],"acf":{"mongo_id":"4ef6233b-cf0e-47da-91e9-9e231d76f858","teaser":"","photo_url":"https:\/\/ent.news\/2022\/11\/376.jpg"},"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v27.1 (Yoast SEO v27.1.1) - https:\/\/yoast.com\/product\/yoast-seo-premium-wordpress\/ -->\n<title>Is the Qatari sovereign fund closing in on a 20% stake in Vodafone Egypt? 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