{"id":577518,"date":"2022-11-27T03:54:24","date_gmt":"2022-11-27T03:54:24","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/?post_type=issue&#038;p=577518"},"modified":"2025-12-16T11:18:59","modified_gmt":"2025-12-16T11:18:59","slug":"is-qia-in-talks-to-develop-and-manage-safaga-port","status":"publish","type":"issue","link":"https:\/\/enterpriseam.com\/egypt\/issues\/is-qia-in-talks-to-develop-and-manage-safaga-port\/","title":{"rendered":"Is QIA in talks to develop and manage Safaga port?"},"content":{"rendered":"<section id=\"577520\" 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=\"577520\">\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\/27\/this-morning-the-enterprise-ceo-poll-on-fdi-and-exports-our-commodities-exchange-launches-today\/\">\r\n                            THIS MORNING: The Enterprise CEO poll on FDI and exports + Our commodities exchange launches today                        <\/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\/27\/this-morning-the-enterprise-ceo-poll-on-fdi-and-exports-our-commodities-exchange-launches-today\/\" 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\/27\/this-morning-the-enterprise-ceo-poll-on-fdi-and-exports-our-commodities-exchange-launches-today\/')\">\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\/27\/this-morning-the-enterprise-ceo-poll-on-fdi-and-exports-our-commodities-exchange-launches-today\/\">\n                    Facebook                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/facebook-icon2.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a target=\"_blank\" href=\"https:\/\/x.com\/intent\/post?text=THIS MORNING: The Enterprise CEO poll on FDI and exports + Our commodities exchange launches today&url=https:\/\/enterpriseam.com\/egypt\/2022\/11\/27\/this-morning-the-enterprise-ceo-poll-on-fdi-and-exports-our-commodities-exchange-launches-today\/\">\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\/27\/this-morning-the-enterprise-ceo-poll-on-fdi-and-exports-our-commodities-exchange-launches-today\/&title=THIS MORNING: The Enterprise CEO poll on FDI and exports + Our commodities exchange launches today\">\n                    LinkedIn                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/linkedin-icon.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a href=\"https:\/\/api.whatsapp.com\/send?text=THIS+MORNING%3A+The+Enterprise+CEO+poll+on+FDI+and+exports+%2B+Our+commodities+exchange+launches+today+https%3A%2F%2Fenterpriseam.com%2Fegypt%2F2022%2F11%2F27%2Fthis-morning-the-enterprise-ceo-poll-on-fdi-and-exports-our-commodities-exchange-launches-today%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\/27\/this-morning-the-enterprise-ceo-poll-on-fdi-and-exports-our-commodities-exchange-launches-today\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-577520\" class=\"content-area-description single-story post-577520 post type-post status-publish format-standard hentry category-what-were-tracking-today tag-egyptian-mercantile-exchange tag-enterpriseam tag-green-hydrogen tag-investment-watch tag-tourism-and-antiquities-ministry tag-what-were-tracking-today tag-world-cup wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<p><strong>Good morning, friends, and welcome to what we think is going to be a very busy week <\/strong>for the business community and policymakers alike as the sprint to the year-end holiday season begins.<\/p>\n<p><strong>As we all look ahead to 2023, we\u2019re more convinced than ever that FDI and exports need <\/strong><strong>to be at the heart of our nation\u2019s economic growth strategy. <\/strong>A little over a month ago, we published <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/edition\/am\/feeda831-c0fd-43df-b197-08ddb74254e7\">a five-step recipe that has the power to transform Egypt into a major global export hub<\/a> by integrating us with the supply chains of major industries and selling into a once-in-a-lifetime energy opportunity. Doing so will also turn us into a magnet for foreign direct investment \u2014 not hot money that leaves the moment it smells risk or an extra 50 bps of return, but long-term capital that creates jobs and brings with it global know-how.<\/p>\n<p><strong>We then held an invite-only breakfast for 20 top CEOs to talk through our plan \u2014 and to a <\/strong><strong>person, they believe it is the way forward. <\/strong>Why? Because it is both focused and commonsense:<\/p>\n<ul>\n<li><strong>Set an audacious long-term goal <\/strong>\u2014 USD 50 bn worth of FDI in the 12 months ending June 2033.<\/li>\n<li><strong>Choose five champion industries. <\/strong>Ultimately, it may have to be more: Five with potential today, five with potential a decade from now. But the point is that it is focused and unchanging.<\/li>\n<li><strong>Make it really, really easy to do business in Egypt. <\/strong>Digitize everything and accept no excuses.<\/li>\n<li><strong>Build an independent investment promotion agency <\/strong>like the one that has been so incredibly successful in India.<\/li>\n<li><strong>Stay focused: <\/strong>Back the plan, the champion industries, and the agency for the long term \u2014 no matter who whines.<\/li>\n<\/ul>\n<p><strong>This morning, we\u2019re kicking off a series that will run through December. <\/strong>In this CEO poll on FDI and exports, we asked each top exec two simple questions: If you could pick just one champion industry, what would it be? And why do you think FDI and exports are the way forward?<\/p>\n<p><strong>SPEAKING TODAY: GSK General Manager Mohamed El Dababy<\/strong>, at the head of our news well, below.<\/p>\n<p><strong>WE\u2019RE NOT THE ONLY ONES WITH FDI ON THE BRAIN- <\/strong>The Senate is back in session today and its financial and economic affairs committee will discuss a report by the pro-government Mostaqbal Watan party that aims to overhaul how we approach FDI. The 190-page report focuses on ways to attract more FDI to six key industries, including agriculture, construction, industry, tourism, transport and oil and natural gas. We\u2019re not saying we necessarily agree with the full list, but the key here, friends, is that it is focused.<\/p>\n<p class='web-image' ><a href='https:\/\/climatexforum.enterprise.press\/'><img decoding=\"async\" data-recalc-dims=\"1\" src=\"https:\/\/i0.wp.com\/ent.news\/2022\/11\/Countdown-Banner-1600-en.jpg?ssl=1\" alt='enterprise'><\/a><\/p>\n<p><a class=\"content-anchor\" id=\"tldr-story-06\"><\/a><strong> MEANWHILE- We\u2019re in the countdown stage for the <\/strong><strong><a href=\"https:\/\/climatexforum.enterprise.press\/index.html#aboutSection\">Enterprise Climate X<\/a><\/strong><strong><a href=\"https:\/\/climatexforum.enterprise.press\/index.html#aboutSection\">Forum<\/a><\/strong><strong> with just nine days to go<\/strong> before we meet with some of you in Cairo at the <strong>Grand Egyptian Museum<\/strong> on Tuesday, 6 December 2022. Invitations are out, and judging by the emails we\u2019ve gotten, it sounds like some of you\u2019re as excited as we are.<\/p>\n<p><strong>*** YOU MUST REGISTER TO ATTEND by clicking the link on your registration email. <\/strong>Attendance is by invitation only and your invite is personalized. You will require a special QR code to gain access to the GEM on event day \u2014 we\u2019ll be sending them out at the end of the week.<\/p>\n<p><strong>Have you not received an invitation?<\/strong> If you\u2019re a C-suite exec, business owner, climate professional, DFI staff, investor, or senior 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><a href=\"https:\/\/climatexforum.enterprise.press\/index.html#agenda\">The agenda:<\/a><\/strong> We get underway with a networking breakfast at 8am CLT. Then we jump right in with live interviews and panels made up of CEOs, execs, bankers, and development finance folks, who will mull over a variety of topics, including:<\/p>\n<ul>\n<li>Is there truly a business case for green hydrogen in Egypt?<\/li>\n<li>What policies, regulation and legislation should the government be looking at to drive investment in the green economy?<\/li>\n<li>Practical advice from industry insiders on how to get your climate-focused business started.<\/li>\n<li>How do we finance our green transition?<\/li>\n<li>How startups and VCs are embracing the green economy.<\/li>\n<\/ul>\n<hr class=\"grey-line\">\n<p><strong>HAPPENING TODAY- <\/strong><\/p>\n<p><strong>The <\/strong><strong><a href=\"http:\/\/www.emx.com.eg\/Default.aspx\">Egyptian Mercantile Exchange (EMX<\/a><\/strong><strong>) goes live today. <\/strong>Egypt has registered 40 mills ahead of the commodity exchange <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/e6643abe-25db-40da-8d74-6cb6574ef7fe\">going live today<\/a>, Ibrahim Ashmawy, the head of the Supply MInistry\u2019s Internal Trade Development Authority (ITDA), told <a href=\"http:\/\/bit.ly\/3EzRtgy\">Reuters<\/a>. Wheat specifications and quantities that would be traded will be made public immediately before first trades. Ashmawy said that oil, sugar and rice trading under the EMX would follow later.<\/p>\n<p><strong>Russian wheat will be traded on the exchange today<\/strong>, Ashmawy, who is also chairman of the EMX, told Ala Mas\u2019ouleety (<a href=\"https:\/\/www.youtube.com\/watch?v=YCrVKlyZ-Wo\">watch, runtime: 5:09<\/a>). State grains buyer GASC will sell the wheat to private mills in an auction lasting from 2pm until 4pm CLT he said, with contracts awarded to bidders at 5pm. <strong>Big ambitions: <\/strong>The EMX could be the biggest commodities exchange in the region within a year or two, Ashmawy added, (<a href=\"https:\/\/www.youtube.com\/watch?v=Yo70UaLhgNc\">watch, runtime: 3:06<\/a>).<\/p>\n<p><strong>Speaking of commodities: <\/strong>Rice producers, sellers and distributors now have until Sunday, 4 December to notify the Supply Ministry of what they\u2019ve stockpiled and where they\u2019re keeping it, according to a <a href=\"http:\/\/bit.ly\/3F6ka6s\">statement<\/a> by the Supply Ministry. Rice has been designated as a \u201cstrategic commodity\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. The 4 December deadline is a one-week extension.<\/p>\n<hr class=\"grey-line\">\n<p><strong>ALSO- The Senate is back from a two-week recess<\/strong> and is expected to discuss <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/3045baa9-e5b2-4a13-a2f2-e1bdab5bc4c6\">legislation<\/a> aimed at accelerating the reconciliation process for illegal buildings. The bill, which is designed to make it easier for owners of unlicensed buildings to go legit, is expected to get a signoff by Senators.<\/p>\n<p><strong>In the House of Representatives, the Economic Committee will reopen debate today of <\/strong><strong>amendments to the Competition Act.<\/strong> Today\u2019s session comes just days after Mahmoud Momtaz, the head of the Egyptian Competition Authority (ECA), <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/11ce99aa-e6a8-4f73-9550-a25235da1870\">answered questions<\/a> from the committee on whether legislation needs to be amended to improve competitive neutrality.<\/p>\n<p><strong>WHY IT MATTERS- <\/strong>Amendments to the existing law, which have been up in the air <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/3582805e-b867-4076-9e5e-bff71e01f886\">since last<\/a><a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/3582805e-b867-4076-9e5e-bff71e01f886\">year<\/a>, would among other things give the ECA more power to regulate M&A. The House discussed the amendments extensively with members of the business and legal communities during the last legislative session, but failed to reach common ground on a handful of contentious articles.<\/p>\n<p><strong>WATCH THIS SPACE-<\/strong><\/p>\n<p><strong>#1:<\/strong> <strong>Egypt will announce its green hydrogen strategy by the end of the year<\/strong>, Electricity Minister Mohamed Shaker <a href=\"http:\/\/bit.ly\/3VoNBWk\">said<\/a>. Shaker reviewed with PM Moustafa Madbouly the long list of new renewable energy and green hydrogen agreements inked at COP27, which together could bring up to <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/7267be18-acb5-4b9f-874a-e36102c2cad5\">USD 119 bn<\/a> in fresh investment. We had been expecting the hydrogen strategy to be unveiled at COP.<\/p>\n<p><strong>#2: More grist for the PIF-Egyptalum rumor mill: <\/strong>EGX-listed Egypt Aluminum (EgyptAlum) could appoint an independent financial advisor to determine its fair value ahead of a potential acquisition by Saudi Arabia\u2019s sovereign wealth fund, <a href=\"https:\/\/www.alborsaanews.com\/2022\/11\/26\/1601954\">Al Borsa<\/a> reports, citing sources it says are in the know. The fair value study could be finalized within weeks, with an approval by the Financial Regulatory Authority on the acquisition by Saudi Arabia\u2019s Public Investment Fund (PIF) expected before the end of the year, the sources are cited as saying.<\/p>\n<p><strong>BACKGROUND-<\/strong> Local media has previously reported that the <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/d7ef0109-f72e-4b5c-a44d-005328a1c284\">PIF is looking to take a position<\/a> in EgyptAlum\u2019s capital increase, which is set to help finance a USD 300 mn overhaul of the company. Then-public enterprises minister Hisham Tawfik said <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/330b3729-74cc-48ec-91f5-1d3276107b0f\">in May<\/a> that the state could sell a 20-25% stake in the company to an unnamed Arab sovereign fund.<\/p>\n<p><strong>#3- EGX boss Ramy El Dokany said the program to <\/strong><strong><a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/341bd556-a758-49d4-9aa9-1852ae8a3d9f\">offer stakes in state-owned firms<\/a><\/strong> <strong>should be \u201cactivated quickly\u201d <\/strong>to take advantage of improving conditions on the EGX, according to a Finance Ministry <a href=\"http:\/\/bit.ly\/3u2tGAZ\">statement<\/a>. El Dokany made the comment in a meeting with Finance Minister Mohamed Maait and officials from the Muscat stock exchange to drum up Omani investment. The EGX30 is now up 7.0% year-to-date in the wake of the float of the EGP.<\/p>\n<p><strong>#4- The company running the new New Administrative Capital could float units on the <\/strong><strong>EGX<\/strong>, Chairman Khalid Abbass <a href=\"https:\/\/bit.ly\/3gA13rZ\">said<\/a>. The company is looking to get more Gulf real estate developers to invest in the new capital and it has plans to start selling plots for phase two of the city by 2H 2023, Abbass added.<\/p>\n<div class=\"row\">\n<div class=\"col-md-12 subscribe-box-panel\">\n<div class=\"\">\n<div class=\"title\">\n<h4 class=\"fw-lighter mb-10\">\n          Get <b style=\"font-weight: 700\">Enterprise<\/b> daily<br \/>\n        <\/h4>\n<\/p><\/div>\n<p class=\"mb-10\">The roundup of news and trends that move your markets and shape corporate agendas delivered straight to your inbox.<\/p>\n<p>      <a href=\"egypt\/en\/user\/NewsLetters\" type=\"button \" class=\"btn-green px-3 d-flex align-items-center\">Subscribe here<\/a>\n    <\/div>\n<\/p><\/div>\n<\/div>\n<p><strong>WORLD CUP UPDATE-<\/strong><\/p>\n<p><strong>It\u2019s day eight of the World Cup: <\/strong>Teams in Group E and F face off today (all times CLT):<\/p>\n<ul>\n<li>Japan v Costa Rica (12pm)<\/li>\n<li>Belgium v Morocco (3pm)<\/li>\n<li>Croatia v Canada (6pm)<\/li>\n<li>Spain v Germany (9pm)<\/li>\n<\/ul>\n<p><strong>France is through to knockouts, and it\u2019s goodbye to Qatar. <\/strong>Defending champion France became the first to reach the FIFA World Cup knockout stage on Saturday, sealing a <a href=\"https:\/\/edition.cnn.com\/2022\/11\/26\/football\/tunisia-australia-saudi-arabia-poland-france-denmark-world-cup-2022-spt-intl\/index.html\">2-1 victory against Denmark<\/a> thanks to a late goal from the magnificent Kylian Mbappe. Host Qatar will be the first team to bid farewell to the tournament after losing <a href=\"https:\/\/www.france24.com\/en\/sport\/20221125-host-qatar-faces-early-world-cup-exit-after-3-1-loss-to-senegal\">1-3 to Senegal on Friday<\/a> in a second straight defeat. The host country plays one more match on Tuesday, taking on the Netherlands.<\/p>\n<p><strong>Elsewhere, Lionel Messi saved Argentina\u2019s World Cup dream yesterday<\/strong>, helping secure a 2-0 victory against Mexico. Poland now leads Group C with 4 points, after beating Saudi Arabia 2-0 yesterday despite a notable performance by the Saudis. Tunisia lost 0-1 against Australia yesterday in Group D, putting its chances to qualify in jeopardy. The Tunisian team will have to beat France to have any chance of qualifying to the knockout stages.<\/p>\n<p><strong>World Cup drama spills off the pitch and onto the business pages:<\/strong> Qatar is reportedly \u201creviewing their current and future investments\u201d in London, after the city\u2019s public transport authority banned adverts by the Gulf country amid criticism of its human rights record, the <a href=\"https:\/\/www.ft.com\/content\/2e9fa908-8a55-4314-bfe0-018e671011c9\">Financial Times<\/a> reports. Qatar is \u201cconsidering investment opportunities in other UK cities and home nations\u201d after taking the ban as \u201ca message from the mayor\u2019s office that Qatari business is not welcome in London,\u201d the FT quotes a Qatari source as saying.<\/p>\n<p><strong>No plans after Qatar? Come pay us a visit. <\/strong>The Tourism Ministry has launched a promotional campaign letting holders of the <a href=\"https:\/\/www.fifa.com\/fifaplus\/en\/articles\/lusail-super-cup-hayya-card-en\">Hayya card<\/a>\u2014 Qatar\u2019s entry permit for World Cup attendees \u2014 know that they can <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/e751f5c9-1b0f-4a2d-a570-34f7f8f674b7\">use the card to enter Egypt<\/a> and get offers on tourist activities (<a href=\"https:\/\/www.facebook.com\/watch\/?v=2084348845099234\">watch, runtime: 0:15<\/a>.)<\/p>\n<p><strong>CIRCLE YOUR CALENDAR-<\/strong><\/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><strong> from today<\/strong> until Wednesday at the Egypt International Exhibition Centre in New Cairo.<\/p>\n<p><strong>The US and Russia will hold nuclear talks in Cairo this 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 class='web-image' ><a href='https:\/\/whatsnext.enterprise.press\/'><img decoding=\"async\" data-recalc-dims=\"1\" src=\"https:\/\/i0.wp.com\/ent.news\/2021\/11\/Whats-Next-Vertical-Banner-En-1600-1.jpg?ssl=1\" alt='enterprise'><\/a><\/p>\n<p><strong>*** It\u2019s What\u2019s Next day:<\/strong> We have our weekly deep-dive into what makes and shapes pre-listed companies and startups in Egypt, the UAE and KSA, touching on investment trends, future sector insights and growth journeys.<\/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-mercantile-exchange\/\">Egyptian Mercantile Exchange<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/green-hydrogen\/\">green hydrogen<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/investment-watch\/\">investment watch<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/tourism-and-antiquities-ministry\/\">Tourism and Antiquities 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                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/world-cup\/\">World Cup<\/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=\"577521\" 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=\"577521\">\r\n            \r\n            <div class=\"story__body\">\r\n\r\n                <a href=\"https:\/\/enterpriseam.com\/egypt\/2022\/11\/27\/577521\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-577521\" class=\"content-area-description single-story post-577521 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=\"577522\" 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=\"577522\">\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\">CEO POLL<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2022\/11\/27\/why-gsks-mohamed-el-dababy-thinks-exports-and-fdi-are-the-way-forward\/\">\r\n                            Why GSK\u2019s Mohamed El Dababy thinks exports and FDI are the way forward                        <\/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\/27\/why-gsks-mohamed-el-dababy-thinks-exports-and-fdi-are-the-way-forward\/\" 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\/27\/why-gsks-mohamed-el-dababy-thinks-exports-and-fdi-are-the-way-forward\/')\">\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\/27\/why-gsks-mohamed-el-dababy-thinks-exports-and-fdi-are-the-way-forward\/\">\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=Why GSK\u2019s Mohamed El Dababy thinks exports and FDI are the way forward&url=https:\/\/enterpriseam.com\/egypt\/2022\/11\/27\/why-gsks-mohamed-el-dababy-thinks-exports-and-fdi-are-the-way-forward\/\">\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\/27\/why-gsks-mohamed-el-dababy-thinks-exports-and-fdi-are-the-way-forward\/&title=Why GSK\u2019s Mohamed El Dababy thinks exports and FDI are the way forward\">\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=Why+GSK%E2%80%99s+Mohamed+El+Dababy+thinks+exports+and+FDI+are+the+way+forward+https%3A%2F%2Fenterpriseam.com%2Fegypt%2F2022%2F11%2F27%2Fwhy-gsks-mohamed-el-dababy-thinks-exports-and-fdi-are-the-way-forward%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\/27\/why-gsks-mohamed-el-dababy-thinks-exports-and-fdi-are-the-way-forward\/\">\r\n                    <div class=\"photo photo--above\">\r\n                        <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2022\/11\/410.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"577523\" data-permalink=\"https:\/\/enterpriseam.com\/egypt\/2022\/11\/27\/why-gsks-mohamed-el-dababy-thinks-exports-and-fdi-are-the-way-forward\/410-jpg-14\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2022\/11\/410.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"410.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2022\/11\/410.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2022\/11\/410.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-577522\" class=\"content-area-description single-story post-577522 post type-post status-publish format-standard has-post-thumbnail hentry category-ceo-poll tag-ceo-poll tag-enterpriseam tag-glaxosmithkline wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<p>\n <a class=\"content-anchor\" id=\"tldr-story-01\"><\/a> <strong>We recently had breakfast with 20 top CEOs to talk about why exports and <\/strong><strong>FDI are key to our economy going forward. <\/strong>After reading our <a href=\"https:\/\/enterprise.press\/issues\/2022\/10\/18\/am-a-five-step-recipe-to-boost-exports-fdi-and-make-sure-egypt-never-has-to-ask-the-imf-for-another-cent\/\">five-step recipe for turning Egypt into a global export hub and FDI magnet<\/a>, participating CEO has agreed to answer to two questions on the record.<\/p>\n<p><strong>Mohamed El Dababy (<\/strong><strong><a href=\"https:\/\/www.linkedin.com\/in\/mohamed-eldababy-754993176\/\">LinkedIn<\/a><\/strong><strong>) is general manager of pharma giant GSK in Egypt.<\/strong> An industry veteran, he has worked in Egypt, the United Arab Emirates, Saudi Arabia, Germany, and Denmark with global names. He has had responsibility for national, regional and global files at names including Boehringer Ingelheim and Novo Nordisk. He returned to Egypt to become country chief for GSK in late 2021.<\/p>\n<p><strong>ENTERPRISE- Which industry would you put on a focused short list \u2014 and why?<\/strong><\/p>\n<p><strong>MOHAMED EL DABABY-<\/strong> In a word: Tourism. It is the only quick fix we have to increase our hard currency inflows, we have whatever it takes to quickly make an economic difference. Other economic reforms, such as increasing FDI, improving the ease of doing business, etc. will pay off (hopefully) in the medium\/long term.<\/p>\n<p><strong>E: Why are exports and FDI the way forward?<\/strong><\/p>\n<p><strong>MD- Exports are a consequence of surplus of supply after the fulfillment of local demand,<\/strong> and Egyptian producers are struggling to meet local demand due to the hard currency crunch. We have to make sure first that local industries are in good health and enabled for expansion to export.<\/p>\n<p><strong>I couldn't agree more that exports are critically important for us<\/strong> to improve the trade balance. In my opinion, it is the only sustainable way for the economy to flourish as other sources of hard currency inflow have a growth ceiling \u2014 particularly sources such as remittances and the Suez Canal.<\/p>\n<p><strong>Foreign direct investment will follow once we have local successful Egyptian industries<\/strong> that have strong export arms.<\/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\/ceo-poll\/\">CEO POLL<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/glaxosmithkline\/\">GlaxoSmithKline<\/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=\"577524\" 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=\"577524\">\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\">Infrastructure<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2022\/11\/27\/has-qatar-chosen-safaga-port\/\">\r\n                            Has Qatar chosen Safaga port?                        <\/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\/27\/has-qatar-chosen-safaga-port\/\" 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\/27\/has-qatar-chosen-safaga-port\/')\">\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\/27\/has-qatar-chosen-safaga-port\/\">\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=Has Qatar chosen Safaga port?&url=https:\/\/enterpriseam.com\/egypt\/2022\/11\/27\/has-qatar-chosen-safaga-port\/\">\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\/27\/has-qatar-chosen-safaga-port\/&title=Has Qatar chosen Safaga port?\">\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=Has+Qatar+chosen+Safaga+port%3F+https%3A%2F%2Fenterpriseam.com%2Fegypt%2F2022%2F11%2F27%2Fhas-qatar-chosen-safaga-port%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\/27\/has-qatar-chosen-safaga-port\/\">\r\n                    <div class=\"photo photo--above\">\r\n                        <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2022\/11\/411.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"577525\" data-permalink=\"https:\/\/enterpriseam.com\/egypt\/2022\/11\/27\/has-qatar-chosen-safaga-port\/411-jpg-18\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2022\/11\/411.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"411.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2022\/11\/411.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2022\/11\/411.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-577524\" class=\"content-area-description single-story post-577524 post type-post status-publish format-standard has-post-thumbnail hentry category-infrastructure tag-enterpriseam tag-infrastructure tag-qatar-investment-authority tag-qatar-egypt-relations 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>Qatar\u2019s sovereign fund wants the port of Safaga:<\/strong> The Qatar Investment Authority (QIA) is reportedly in talks with the Madbouly government to develop and manage the port of Safaga under a 25-year contract, <a href=\"https:\/\/bit.ly\/3GFIoFJ\">Bloomberg Asharq<\/a> quotes two unidentified sources as saying. If the transaction is completed, it would mark Qatar's first entry into Egypt\u2019s ports sector.<\/p>\n<p><strong>The Qataris have been eyeing our ports: <\/strong>Representatives from Maha Capital, the investment arm of QIA, <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/bd3f1189-fe0f-4c6d-914b-7c320d65f001\">visited Damietta port<\/a> last month after signing an MoU with the Transport Ministry <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/a1b0de2d-c348-49f4-842b-4b5f4ff1c21c\">in Septembe<\/a>r to explore investment in Egyptian container terminals. The Sovereign Fund of Egypt (SFE) and the QIA <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/79ce7f1b-589c-431f-9ed7-47f9a283f787\">inked an agreement<\/a> to cooperate on ports during President Abdel Fattah El Sisi\u2019s visit to Doha <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/79ce7f1b-589c-431f-9ed7-47f9a283f787\">earlier in September<\/a><strong>.<\/strong><\/p>\n<p><strong>Gulf investors have shown a significant appetite for Egypt\u2019s Red Sea ports in recent months<\/strong>, though the field has so far been dominated by Emiratis. Dubai\u2019s DP World and Abu Dhabi Ports have acquired several container terminals around the Suez Canal and the Red Sea. ADP has been hired to build and run a terminal at the ports of <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/5e296366-a7ef-480b-9002-958773f10d74\">Safaga<\/a> and <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/5e296366-a7ef-480b-9002-958773f10d74\">Ain Sokhna<\/a>, and recently <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/72ba8ef5-72b9-4980-95a0-3aad6a31d3c7\">bought a majority stake<\/a> in a local shipping and logistics company. DP World has been strengthening its position at Ain Sokhna port, completing a <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/2109d126-3d56-4e83-887b-c962bd51b6a7\">major expansion at the port<\/a> late last year and recently signing an agreement to build a new logistics zone.<\/p>\n<p><strong>We\u2019re expecting more FDI flows to our maritime + logistics sectors: <\/strong>The Madbouly government plans to IPO <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/f071461a-67ca-4eda-97bf-6c10415a375d\">as many as four<\/a> state-owned maritime and land transport companies during 1Q 2023 as it looks to reboot its stalled privatization program, the local press has reported. It\u2019s still unclear whether port owner-operators themselves could be privatized: Transport Minister Kamal El Wazir recently <a href=\"https:\/\/www.almasryalyoum.com\/news\/details\/2725780\">appeared to walk back<\/a> earlier comments that the government was <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/93a18ed8-1bd2-4f78-b6b4-987ff0ecb1c8\">looking to merge seven ports<\/a> into a holding company and possibly offer it on the EGX and \/ or to strategic investors\/<\/p>\n<p><strong>Qatar is gearing up to make some big investments here: <\/strong>QIA earlier this month <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/f72cd713-290a-4932-b374-56c1dbdcc856\">deposited USD 1 bn with the Central Bank of Egypt<\/a> as a stop-gap while it completes due diligence and finalizes agreements to purchase as much as <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/23c6426c-0b5d-4302-aeb2-74226e86a276\">USD 2.5 bn worth of state-held stakes<\/a>in unlisted companies. The two countries have also <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/00b7a282-e808-4e11-bcb5-6f50267107bb\">held talks<\/a> about joint investments in oil and gas and in local listed firms, while Qatar Energy has been <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/c734fc23-c0c0-4322-bf5d-ce3c400e707a\">deepening its presence<\/a> in our oil and gas sector this year.<\/p>\n\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/infrastructure\/\">infrastructure<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/qatar-investment-authority\/\">Qatar Investment Authority<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/qatar-egypt-relations\/\">Qatar-Egypt relations<\/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=\"577526\" 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=\"577526\">\r\n            \r\n                <div class=\"issue-story-header text-center\">\r\n                    <div class=\"index-number\">4<\/div>\r\n\r\n                    <p class=\"f-graphik\">Energy<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2022\/11\/27\/israels-newmed-leaning-towards-floating-lng-terminal-over-fresh-pipeline-to-egypt\/\">\r\n                            Israel\u2019s NewMed \u201cleaning towards\u201d floating LNG terminal over fresh pipeline to Egypt                        <\/a>\r\n                    <\/h3>\r\n\r\n                    \r\n\t\t\t\t\t\n<div class=\"cta\">\n    <div class=\"cta__btn share-dropdown-cta dropdown-toggle-btn\" style=\"position:relative\">\n        <img decoding=\"async\" src=\"https:\/\/ent.news\/internal\/408834.svg\" alt=\"\">\n        Share Story\n        <!-- Dropdown Menu -->\n        <ul class=\"share-menu\">\n            <li class=\"list-inline-item\">\n                <a href=\"https:\/\/enterpriseam.com\/egypt\/2022\/11\/27\/israels-newmed-leaning-towards-floating-lng-terminal-over-fresh-pipeline-to-egypt\/\" target=\"_blank\">\n                    Open in new tab                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/new-tab.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a href=\"#\" target=\"_blank\" onclick=\"event.preventDefault(); navigator.clipboard.writeText('https:\/\/enterpriseam.com\/egypt\/2022\/11\/27\/israels-newmed-leaning-towards-floating-lng-terminal-over-fresh-pipeline-to-egypt\/')\">\n                    Copy Link                <\/a>\n\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a target=\"_blank\" href=\"https:\/\/www.facebook.com\/sharer.php?u=https:\/\/enterpriseam.com\/egypt\/2022\/11\/27\/israels-newmed-leaning-towards-floating-lng-terminal-over-fresh-pipeline-to-egypt\/\">\n                    Facebook                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/facebook-icon2.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a target=\"_blank\" href=\"https:\/\/x.com\/intent\/post?text=Israel\u2019s NewMed \u201cleaning towards\u201d floating LNG terminal over fresh pipeline to Egypt&url=https:\/\/enterpriseam.com\/egypt\/2022\/11\/27\/israels-newmed-leaning-towards-floating-lng-terminal-over-fresh-pipeline-to-egypt\/\">\n                    X                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/twitter-icon.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a target=\"_blank\" href=\"https:\/\/www.linkedin.com\/shareArticle?mini=true&url=https:\/\/enterpriseam.com\/egypt\/2022\/11\/27\/israels-newmed-leaning-towards-floating-lng-terminal-over-fresh-pipeline-to-egypt\/&title=Israel\u2019s NewMed \u201cleaning towards\u201d floating LNG terminal over fresh pipeline to Egypt\">\n                    LinkedIn                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/linkedin-icon.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a href=\"https:\/\/api.whatsapp.com\/send?text=Israel%E2%80%99s+NewMed+%E2%80%9Cleaning+towards%E2%80%9D+floating+LNG+terminal+over+fresh+pipeline+to+Egypt+https%3A%2F%2Fenterpriseam.com%2Fegypt%2F2022%2F11%2F27%2Fisraels-newmed-leaning-towards-floating-lng-terminal-over-fresh-pipeline-to-egypt%2F\">\n                    WhatsApp                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/whatsapp-icon.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n        <\/ul>\n    <\/div>\n        <\/div>\r\n                    \r\n                <\/div>\r\n\r\n            \r\n            <div class=\"story__body\">\r\n\r\n                <a href=\"https:\/\/enterpriseam.com\/egypt\/2022\/11\/27\/israels-newmed-leaning-towards-floating-lng-terminal-over-fresh-pipeline-to-egypt\/\">\r\n                    <div class=\"photo photo--above\">\r\n                        <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2022\/11\/413.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"577527\" data-permalink=\"https:\/\/enterpriseam.com\/egypt\/2022\/11\/27\/israels-newmed-leaning-towards-floating-lng-terminal-over-fresh-pipeline-to-egypt\/413-jpg-16\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2022\/11\/413.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"413.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2022\/11\/413.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2022\/11\/413.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-577526\" class=\"content-area-description single-story post-577526 post type-post status-publish format-standard has-post-thumbnail hentry category-energy tag-capricorn-energy tag-energy tag-eni tag-enterpriseam tag-h2-industries tag-infrastructure tag-israel tag-leviathan tag-newmed tag-oil-and-gas 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>Israel\u2019s NewMed plans floating LNG expansion:<\/strong> Israel\u2019s NewMed will likely build a floating liquefied natural gas (LNG) terminal to boost energy exports to Europe from its Leviathan gas field in Israel, NewMed CEO Yossi Abu told <a href=\"https:\/\/www.reuters.com\/business\/energy\/israels-newmed-energy-leaning-towards-floating-lng-expansion-2022-11-24\/\">Reuters<\/a>. NewMed \u2014 formerly Delek Drilling, a well-known partner in Egypt \u2014 had been mulling a pipeline that links Israeli fields to Egypt\u2019s LNG terminals as an alternative to the floating terminal, as it considers different ways to expand its LNG fields and up exports to the continent.<\/p>\n<p><strong>The floating LNG terminal is \u201creally where we are heading right now,\u201d <\/strong>Abu told the newswire. The company is targeting an annual output of 21 bn cubic meters within this decade, Abu said. NewMed also plans to spend USD 550 mn on a pipeline between the wells and the gas platform at Leviathan to boost its capacity to 14 bcm from a current 12 bcm a year, Abu added.<\/p>\n<p><strong>Final decisions to come early next year:<\/strong> The company plans to \u201ctake an investment decision\u201d early next year, Abu added.<\/p>\n<p><strong>NewMed still wants to grow its business here:<\/strong> \u201cIn 2023 we will significantly speed up Leviathan's expansion and entry into new markets, while strengthening the collaboration with our customers in Israel, Egypt and Jordan,\u201d Abu said. NewMed sent just over a third of the 3 bcm that it pumped from Leviathan in 3Q 2022 to Egypt, according to its latest <a href=\"https:\/\/ent.news\/2022\/11\/NewMed-financials-3Q-2022.pdf\">financial statement (pdf)<\/a>.<\/p>\n<p><strong>REFRESHER- <\/strong>Egypt and Israel <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/613a0e7e-2a74-4d1b-8b28-0c9660944559\">signed<\/a> a landmark gas export agreement in June to ramp up exports to the EU as it looks to phase out reliance on Russian fossil fuels. The agreement allows Israel to send more gas to Egypt\u2019s LNG facilities for export to Europe.<\/p>\n<p><strong>In better news for our energy link-up with Israel: NewMed is hopeful its <\/strong><strong><a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/e20731c9-91e5-4f84-80a8-684f2834b9b5\">Capricorn Energy merger<\/a><\/strong> <strong>will go through. <\/strong>Talks with Capricorn Energy over its merger with NewMed are underway, and the transaction is expected to close in 1Q 2023, Abu said, downplaying <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/2bd16acf-0bc2-4e41-abb4-98ff04e3cb71\">recent objections<\/a> from Capricorn Energy shareholders who threatened to block the transaction. Abu said he expected both companies\u2019 shareholders to ultimately approve the merger.<\/p>\n<p><strong>REMEMBER-<\/strong> The Capricorn-NewMed merger would hand NewMed control of Capricorn\u2019s assets in Egypt, paving the way for closer energy ties between Israel and Egypt and creating what the companies had described as a \u201cMENA gas and energy champion.\u201d That could boost Egyptian ambitions to take Russia\u2019s place as one of Europe\u2019s go-to energy suppliers.<\/p>\n<p style='font-size: 18px;font-weight: bold' >ENI STARTS DRILLING IN EASTMED BLOCK<\/p>\n<p><strong>Italian oil giant Eni has started drilling the Thuraya prospect on its Northeast Aris<\/strong><strong>h block in the Mediterranean, <\/strong>according to a report by oil and gas newsletter <a href=\"https:\/\/www.mees.com\/2022\/11\/25\/power-water\/eni-drills-huge-egypt-gas-prospect\/f1bb2940-6cbe-11ed-8d53-256c7549de6e\">MEES<\/a>. The prospect is estimated to contain over 10 tn cubic feet of gas, according to a 2022 <a href=\"https:\/\/library.seg.org\/doi\/epdfplus\/10.1190\/image2022-3745984.1\">geological report<\/a> \u2014 making it around a third the size of the supergiant Zohr field that turned Egypt into a <a href=\"https:\/\/enterprise.press\/stories\/2018\/09\/30\/egypt-ends-natural-gas-imports\/\">net natural gas and LNG exporter<\/a> in 2018. Thuraya was owned by Dana Gas until earlier this year, according to MEES.<\/p>\n<p><strong>Other energy stories worth mentioning this morning:<\/strong><\/p>\n<ul>\n<li><strong>H2 Industries <\/strong>is discussing offtake agreements for its <strong><a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/c02cc7f9-01d7-4ffc-a66a-e7ab35ddd3fd\">waste-to-hydrogen<\/a><\/strong><strong><a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/c02cc7f9-01d7-4ffc-a66a-e7ab35ddd3fd\">facility<\/a><\/strong>, CEO Michael Stusch reportedly told <a href=\"https:\/\/www.zawya.com\/en\/projects\/industry\/egypt-waste-to-hydrogen-project-offtake-agreements-under-preparation-with-2025-timeline-a9sswfnq\">Zawya<\/a>. The USD 3 bn facility could produce 300k tons of hydrogen each year.<\/li>\n<li><strong>Jordan is still in talks with Egypt over plans to <\/strong><strong><a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/546a4403-361e-469d-9a79-80effb81a81a\">double the capacity<\/a><\/strong><strong> of its<\/strong><strong> existing electricity link with the country<\/strong>, Jordanian Energy Minister Saleh Al Kharabsheh said. (Bloomberg Asharq | <a href=\"https:\/\/twitter.com\/AsharqBusiness\/status\/1596149407375917057\">watch, runtime: 1:50<\/a>)<\/li>\n<\/ul>\n\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/capricorn-energy\/\">Capricorn Energy<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/energy\/\">energy<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/eni\/\">Eni<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/h2-industries\/\">H2 industries<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/infrastructure\/\">infrastructure<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/israel\/\">Israel<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/leviathan\/\">Leviathan<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/newmed\/\">NewMed<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/oil-and-gas\/\">oil and gas<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                    <\/div>\n    <\/div>\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"577528\" 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=\"577528\">\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\">DEBT WATCH<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2022\/11\/27\/btech-could-issue-its-first-securitized-bonds-by-the-end-of-the-year\/\">\r\n                            BTECH could issue its first securitized bonds by the end of the year                        <\/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\/27\/btech-could-issue-its-first-securitized-bonds-by-the-end-of-the-year\/\" 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\/27\/btech-could-issue-its-first-securitized-bonds-by-the-end-of-the-year\/')\">\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\/27\/btech-could-issue-its-first-securitized-bonds-by-the-end-of-the-year\/\">\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=BTECH could issue its first securitized bonds by the end of the year&url=https:\/\/enterpriseam.com\/egypt\/2022\/11\/27\/btech-could-issue-its-first-securitized-bonds-by-the-end-of-the-year\/\">\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\/27\/btech-could-issue-its-first-securitized-bonds-by-the-end-of-the-year\/&title=BTECH could issue its first securitized bonds by the end of the year\">\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=BTECH+could+issue+its+first+securitized+bonds+by+the+end+of+the+year+https%3A%2F%2Fenterpriseam.com%2Fegypt%2F2022%2F11%2F27%2Fbtech-could-issue-its-first-securitized-bonds-by-the-end-of-the-year%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\/27\/btech-could-issue-its-first-securitized-bonds-by-the-end-of-the-year\/\">\r\n                    <div class=\"photo photo--above\">\r\n                        <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2022\/11\/414.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"577529\" data-permalink=\"https:\/\/enterpriseam.com\/egypt\/2022\/11\/27\/btech-could-issue-its-first-securitized-bonds-by-the-end-of-the-year\/414-jpg-10\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2022\/11\/414.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"414.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2022\/11\/414.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2022\/11\/414.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-577528\" class=\"content-area-description single-story post-577528 post type-post status-publish format-standard has-post-thumbnail hentry category-debt-watch tag-cib tag-debt-watch tag-enterpriseam tag-retail tag-securitization tag-tatweer-misr 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>Electronics retailer BTECH is looking to issue more than EGP 1 bn worth of <\/strong><strong>securitized bonds before the end of 2022 <\/strong>to finance its consumer finance operations, BTECH CEO Mahmoud Khattab said (<a href=\"https:\/\/www.youtube.com\/watch?v=LJ3lBYbP1xo\">watch, runtime: 48:36<\/a>) The issuance is part of a plan to issue securitized bonds worth EGP 8-9 bn within the next five years, Khattab said.<\/p>\n<p><strong>Advisors:<\/strong> CIB is managing the issuance.<\/p>\n<p><strong>BTECH still sees plenty of room to grow in the domestic retail market: <\/strong>\u201cWe didn\u2019t even scratch the surface,\u201d Khattab said, adding that the company is focused on geographical expansion within Egypt, maintaining annual sales growth, and diversifying its services portfolio. The electronics giant has no plans to go public on the EGX nor to expand internationally for the foreseeable future, Khattab said, reiterating comments he made to Enterprise in an <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/22b78d62-86d0-4331-878e-0da58c84ce0a\">exclusive interview<\/a> in October.<\/p>\n<p><strong>REMEMBER-<\/strong> Saudi Arabia\u2019s sovereign wealth fund acquired a 34% stake in BTECH from Africa-focused investment firm DPI for an undisclosed sum back in October, Khattab told Enterprise.<\/p>\n<p style='font-size: 18px;font-weight: bold' >TATWEER MISR BORROWS FROM CIB FOR FOUKA BAY<\/p>\n<p><strong>Tatweer <\/strong><strong>Misr <\/strong><strong>has taken out an EGP 400 mn loan from CIB to ramp up construction <\/strong><strong>at its Fouka Bay project, <\/strong>according to a company <a href=\"https:\/\/www.facebook.com\/TatweerMisrDevelopments\/posts\/pfbid0C9UBCQtSp33ZhCbNyGKPhUaQ9qQbnktDYv7nqv7CDfK1obUC478wVZVu8P7tiL9hl\">statement<\/a>. The loan is backed by finished units at the North Coast development. Tatweer Misr expects to complete its third phase next year, and the fourth phase in 2024.<\/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\/cib\/\">CIB<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/debt-watch\/\">debt watch<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/retail\/\">retail<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/securitization\/\">securitization<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/tatweer-misr\/\">Tatweer Misr<\/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=\"577530\" 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=\"577530\">\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\">Transport<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2022\/11\/27\/egyptian-national-railways-lands-funding-from-eib-afd\/\">\r\n                            Egyptian National Railways lands funding from EIB, AFD                        <\/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\/27\/egyptian-national-railways-lands-funding-from-eib-afd\/\" 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 EIB is extending an EUR 221 mn loan, while the AFD will lend EUR 95 mn to the project.<\/p>\n<p><strong>What rail upgrades? <\/strong>The project involves double-tracking a 65-km stretch of the 118 km line and installing an automated signaling system. The upgrades are set to improve reliability and safety for passengers, increase the capacity to transport goods to and from the port of Damietta, and reduce carbon emissions, the AFD statement reads. The two lenders have been considering financing the project since at least 2019 (<a href=\"https:\/\/enterprise.press\/stories\/2019\/10\/28\/eib-considers-eur-90-mn-loan-for-tanta-damietta-railway-upgrade\/\">here<\/a> and <a href=\"https:\/\/enterprise.press\/stories\/2019\/11\/03\/frances-afd-considers-eur-190-mn-loan-for-tanta-damietta-railway-upgrade\/\">here<\/a>.)<\/p>\n<p style='font-size: 18px;font-weight: bold' >ELECTRIC VEHICLES AS A SERVICE?<\/p>\n<p><strong>EV subscription startup eyes our market: <\/strong>Nigerian vehicle subscription startup <a href=\"https:\/\/www.max.ng\/\">Metro<\/a><a href=\"https:\/\/www.max.ng\/\">Africa Xpress (MAX)<\/a> is looking to raise USD 100 mn by the end of 2023 to help it bring electric vehicle (EV) subscription to ten African countries including Egypt, Director of International Expansion David Hoyme told <a href=\"https:\/\/www.bloomberg.com\/news\/articles\/2022-11-25\/ride-hailing-nigeria-startup-to-raise-100-million-in-ev-push\">Bloomberg<\/a>.<\/p>\n<p><strong>About MAX: <\/strong>Launched in 2015, the startup offers commercial drivers subscriptions for low- and no-emission vehicles. The company currently operates in Nigeria and Ghana with a 9k-strong fleet of sedans and tuk-tuks.<\/p>\n<p><strong>Our EV scene has been gaining momentum: <\/strong>Egypt is expected to start working on its first <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/e01712b2-bb02-4e7a-90c0-7ceea783a6e7\">locally manufactured EV next year<\/a>, once state-owned El Nasr Automotive wraps up a <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/35e67d37-9ead-40af-b79d-35c2b00fa423\">protracted search<\/a> for a partner to help produce them. Al Mansour Auto and GM are also looking at partnering to locally <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/eb6d96b3-fc0f-466f-8f9b-6d172f77d1fe\">assemble up to 15k EVs<\/a> in Egypt over the next three years. Meanwhile, the government is working on <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/e2dd65fe-9507-4ee7-90cc-f2e4a53a5da5\">plans to establish a nationwide charging network<\/a> \u2014 with our friends at renewable energy player Infinity to set up 6k vehicle charging points at 3k stations across the country.<\/p>\n<p><strong>REMEMBER- <\/strong>Incentives for the local EV industry will be a part of the long-awaited <a href=\"https:\/\/enterprise.press\/industries\/%f0%9f%8f%ad-inside-industry\/\">automotive strategy<\/a>, which could drop <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/eb6d96b3-fc0f-466f-8f9b-6d172f77d1fe\">within weeks<\/a>.<\/p>\n<p><strong>Other transport stories worth noting this morning:<\/strong><\/p>\n<ul>\n<li><strong>DiDi Egypt introduced<\/strong> <strong>its first motorcycle ride-hailing service<\/strong> as it marks one year of operations in the local market. (<a href=\"https:\/\/bit.ly\/3EubSUe\">Al Mal<\/a>)<\/li>\n<li><strong>Saudi-Egyptian maritime pact<\/strong>: Egypt and Saudi Arabia signed an MoU for mutual recognition of seafarers\u2019 qualifications. (<a href=\"https:\/\/www.zawya.com\/en\/economy\/gcc\/saudi-arabia-and-egypt-sign-mou-on-mutual-recognition-of-maritime-certificates-r53qdqnb\">Statement<\/a>)<\/li>\n<\/ul>\n<p class='web-image' ><a href='https:\/\/climatexforum.enterprise.press\/index.html#aboutSection'><img decoding=\"async\" data-recalc-dims=\"1\" src=\"https:\/\/i0.wp.com\/ent.news\/2022\/11\/Climate-X-topic-banner-2-En-1600x.png?ssl=1\" alt='enterprise'><\/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\/european-investment-bank\/\">European Investment Bank<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/french-development-agency\/\">French Development Agency<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/metro-africa-xpress-max\/\">Metro Africa Xpress (MAX)<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/startup-watch\/\">Startup watch<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/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=\"577532\" 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=\"577532\">\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\">EARNINGS WATCH<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2022\/11\/27\/oc-revenues-up-20-y-o-y-in-9m-2022\/\">\r\n                            OC revenues up 20% y-o-y in 9M 2022                        <\/a>\r\n                    <\/h3>\r\n\r\n                    \r\n\t\t\t\t\t\n<div class=\"cta\">\n    <div class=\"cta__btn share-dropdown-cta dropdown-toggle-btn\" style=\"position:relative\">\n        <img decoding=\"async\" src=\"https:\/\/ent.news\/internal\/408834.svg\" alt=\"\">\n        Share Story\n        <!-- Dropdown Menu -->\n        <ul class=\"share-menu\">\n            <li class=\"list-inline-item\">\n                <a href=\"https:\/\/enterpriseam.com\/egypt\/2022\/11\/27\/oc-revenues-up-20-y-o-y-in-9m-2022\/\" target=\"_blank\">\n                    Open in new tab                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/new-tab.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a href=\"#\" target=\"_blank\" onclick=\"event.preventDefault(); navigator.clipboard.writeText('https:\/\/enterpriseam.com\/egypt\/2022\/11\/27\/oc-revenues-up-20-y-o-y-in-9m-2022\/')\">\n                    Copy Link                <\/a>\n\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a target=\"_blank\" href=\"https:\/\/www.facebook.com\/sharer.php?u=https:\/\/enterpriseam.com\/egypt\/2022\/11\/27\/oc-revenues-up-20-y-o-y-in-9m-2022\/\">\n                    Facebook                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/facebook-icon2.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a target=\"_blank\" href=\"https:\/\/x.com\/intent\/post?text=OC revenues up 20% y-o-y in 9M 2022&url=https:\/\/enterpriseam.com\/egypt\/2022\/11\/27\/oc-revenues-up-20-y-o-y-in-9m-2022\/\">\n                    X                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/twitter-icon.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a target=\"_blank\" href=\"https:\/\/www.linkedin.com\/shareArticle?mini=true&url=https:\/\/enterpriseam.com\/egypt\/2022\/11\/27\/oc-revenues-up-20-y-o-y-in-9m-2022\/&title=OC revenues up 20% y-o-y in 9M 2022\">\n                    LinkedIn                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/linkedin-icon.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a href=\"https:\/\/api.whatsapp.com\/send?text=OC+revenues+up+20%25+y-o-y+in+9M+2022+https%3A%2F%2Fenterpriseam.com%2Fegypt%2F2022%2F11%2F27%2Foc-revenues-up-20-y-o-y-in-9m-2022%2F\">\n                    WhatsApp                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/whatsapp-icon.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n        <\/ul>\n    <\/div>\n        <\/div>\r\n                    \r\n                <\/div>\r\n\r\n            \r\n            <div class=\"story__body\">\r\n\r\n                <a href=\"https:\/\/enterpriseam.com\/egypt\/2022\/11\/27\/oc-revenues-up-20-y-o-y-in-9m-2022\/\">\r\n                    <div class=\"photo photo--above\">\r\n                        <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2022\/11\/419.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"577533\" data-permalink=\"https:\/\/enterpriseam.com\/egypt\/2022\/11\/27\/oc-revenues-up-20-y-o-y-in-9m-2022\/419-jpg-15\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2022\/11\/419.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"419.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2022\/11\/419.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2022\/11\/419.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-577532\" class=\"content-area-description single-story post-577532 post type-post status-publish format-standard has-post-thumbnail hentry category-earnings-watch tag-earnings-watch tag-enterpriseam tag-orascom-construction wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<p><a class=\"content-anchor\" id=\"tldr-story-07\"><\/a> <strong>Orascom Construction (OC) reported a 20.1% y-o-y rise in <\/strong><strong>revenues to USD 3.05 <\/strong><strong>bn in 9M 2022<\/strong>, according to its latest <a href=\"https:\/\/ent.news\/2022\/11\/Orascom-Construction-9M2022.pdf\">earnings release (pdf)<\/a>. Net income recorded USD 57.8 mn in the first nine months of the year (down 24.0% y-o-y.) The construction giant's revenues were up 32.7% y-o-y to post USD 1.1 bn in the third quarter of 2022, while net income during the July-September period was down 15.8% y-o-y at USD 23.9 mn. Earnings were impacted in both 9M and 3Q by the performance of Belgium-based subsidiary Besix, as well as \u201chigher net financing costs,\u201d according to the release.<\/p>\n<p><strong>OC\u2019s consolidated backlog was down 4.9% y-o-y to USD 5.7 bn<\/strong> as of the end of September. OC attributed the dip to the fact that the figure was calculated based on the EGP-USD rate as of 31 October, to account for the devaluation of the EGP by the central bank on <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/60dc5b0c-8c51-4c61-aa04-54e46a86a7c6\">27 October.<\/a> Consolidated new awards increased 10.6% y-o-y to USD 3.1 bn in 9M 2022, despite a 29.6% y-o-y drop in new awards in 3Q. Egypt accounted for 68.4% of the company\u2019s backlog, followed by the US (24.9%) and Saudi Arabia (2.2%). OC\u2019s pro forma backlog including its share in Besix decreased 5.1% y-o-y to USD 8.4 bn at the end of 3Q.<\/p>\n<p><strong>What they said:<\/strong> OC continues to prioritize \u201cproject execution, controls, supply chain and collections as the company is \u201cstill facing a challenging operating climate,\u201d CEO Osama Bishai said in the release. We discussed OC\u2019s moves to expand its renewable energy business, among other topics, when we <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/f47718db-23d9-4ab9-b275-f0c82662f8c4\">sat down with Bishai during COP27<\/a> for the Enterprise Climate CEO poll.<\/p>\n\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/earnings-watch\/\">earnings watch<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/orascom-construction\/\">Orascom Construction<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                    <\/div>\n    <\/div>\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"577534\" 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=\"577534\">\r\n            \r\n            <div class=\"story__body\">\r\n\r\n                <a href=\"https:\/\/enterpriseam.com\/egypt\/2022\/11\/27\/577534\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-577534\" class=\"content-area-description single-story post-577534 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\/11\/1-SODIC-Karokee-1600x1600-1.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=\"577535\" 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=\"577535\">\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\">LAST NIGHT\u2019S TALK SHOWS<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2022\/11\/27\/last-nights-talk-shows-20k-expats-register-on-car-import-scheme-app\/\">\r\n                            Last Night\u2019s Talk Shows: 20k expats register on car import scheme app                        <\/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\/27\/last-nights-talk-shows-20k-expats-register-on-car-import-scheme-app\/\" 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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Around 2k people have obtained a payment order, with total orders estimated at USD 31.5 mn, El Ghatwary said. The government is trying to draw foreign currency into Egypt through the scheme, which allows expats to import cars using foreign currency in exchange for a full rebate on taxes and dues<\/p>\n<p><strong>Is the USD going to climb higher against the EGP?<\/strong> El Hekaya\u2019s Amr Adib expects the USD-EGP FX rate to accelerate \u201cslightly\u201d in the coming days given that a \u201cparallel rate\u201d is now higher than the price set by the CBE and banks (<a href=\"https:\/\/www.youtube.com\/watch?v=5nSmC357WYg\">watch, runtime: 4:26<\/a>). \u201cI hope I\u2019m wrong,\u201d he said.<\/p>\n<p><strong>Also on the airwaves last night:<\/strong><\/p>\n<ul>\n<li><strong>The House\u2019s response to a European Parliament resolution criticizing Egypt\u2019s human rights record was described as \u201cpowerful\u201d<\/strong> with a hashtag against the resolution reportedly trending on local Twitter. (Ala Mas\u2019ouleety | <a href=\"https:\/\/www.youtube.com\/watch?v=uGUmpQMWpt8\">watch, runtime: 3:27<\/a> | Al Hayah Al Youm | <a href=\"https:\/\/www.youtube.com\/watch?v=Mm3V7ejqsKw\">watch, runtime: 5:26<\/a>)<\/li>\n<li><strong>Egypt is working on joining a bid to host the World Cup in 2030 or 2034<\/strong>, Sports Minister Ashraf Sobhy said. The country is not planning to sign up to host the 2025 Africa Cup of Nations. (Ala Mas\u2019ouleety | <a href=\"https:\/\/www.youtube.com\/watch?v=GOzGZeKOOWQ\">watch, runtime: 23:21<\/a>)<\/li>\n<li><strong>The pundits commiserated over Saudi Arabia\u2019s disappointing World Cup loss against Poland. <\/strong>(Ala Mas\u2019ouleety| <a href=\"https:\/\/www.youtube.com\/watch?v=kss66y2aCqQ\">watch, runtime: 4:23<\/a> | Kelma Akhira | <a href=\"https:\/\/www.youtube.com\/watch?v=I_w0OllMoUo\">watch, runtime: 3:13<\/a>)<\/li>\n<\/ul>\n\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/automotive\/\">automotive<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/expat-car-import-scheme\/\">expat car import scheme<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/foreign-exchange\/\">foreign exchange<\/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=\"577537\" 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                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target=\"_blank\" class=\"logo\" rel=\"noopener\">\r\n                        <img decoding=\"async\" draggable=\"false\" src=\"https:\/\/ent.news\/internal\/27488.svg\" alt=\"\">\r\n                    <\/a>\r\n                    <span>Realize More<\/span>\r\n                <\/div>\r\n            <\/div>\r\n            <\/div><\/div><\/div>\r\n        \r\n            <div class=\"wp-block-stackable-column stk-block-column stk-column stk-block stk-fofhzey\" data-v=\"4\" data-block-id=\"fofhzey\"><div class=\"stk-column-wrapper stk-block-column__content stk-container stk-fofhzey-container stk--no-background stk--no-padding\"><div class=\"stk-block-content stk-inner-blocks stk-fofhzey-inner-blocks\">\r\n            <div class=\"issue-sponsor-slide\">\r\n                <img data-recalc-dims=\"1\" decoding=\"async\" draggable=\"false\" src=\"https:\/\/i0.wp.com\/ent.news\/internal\/240924.png?ssl=1\">\r\n                <div class=\"overlay\"><\/div>\r\n                <div 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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=\"577538\" 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=\"577538\">\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\">EGYPT IN THE NEWS<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2022\/11\/27\/egypt-in-the-news-our-economy-not-out-of-the-woods-yet-says-reuters\/\">\r\n                            Egypt in the News: Our economy \u201cnot out of the woods\u201d yet, says Reuters                        <\/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\/27\/egypt-in-the-news-our-economy-not-out-of-the-woods-yet-says-reuters\/\" 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\/27\/egypt-in-the-news-our-economy-not-out-of-the-woods-yet-says-reuters\/')\">\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\/27\/egypt-in-the-news-our-economy-not-out-of-the-woods-yet-says-reuters\/\">\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 in the News: Our economy \u201cnot out of the woods\u201d yet, says Reuters&url=https:\/\/enterpriseam.com\/egypt\/2022\/11\/27\/egypt-in-the-news-our-economy-not-out-of-the-woods-yet-says-reuters\/\">\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\/27\/egypt-in-the-news-our-economy-not-out-of-the-woods-yet-says-reuters\/&title=Egypt in the News: Our economy \u201cnot out of the woods\u201d yet, says Reuters\">\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+in+the+News%3A+Our+economy+%E2%80%9Cnot+out+of+the+woods%E2%80%9D+yet%2C+says+Reuters+https%3A%2F%2Fenterpriseam.com%2Fegypt%2F2022%2F11%2F27%2Fegypt-in-the-news-our-economy-not-out-of-the-woods-yet-says-reuters%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\/27\/egypt-in-the-news-our-economy-not-out-of-the-woods-yet-says-reuters\/\">\r\n                    <div class=\"photo photo--above\">\r\n                        <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2022\/11\/422.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"577539\" data-permalink=\"https:\/\/enterpriseam.com\/egypt\/2022\/11\/27\/egypt-in-the-news-our-economy-not-out-of-the-woods-yet-says-reuters\/422-jpg-15\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2022\/11\/422.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"422.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2022\/11\/422.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2022\/11\/422.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-577538\" class=\"content-area-description single-story post-577538 post type-post status-publish format-standard has-post-thumbnail hentry category-egypt-in-the-news tag-economy tag-enterpriseam tag-imf wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<p><strong><a href=\"https:\/\/www.reuters.com\/markets\/egypt-not-out-woods-after-imf-rescue-deal-2022-11-25\/\">Reuters<\/a><\/strong><strong> is reporting that our economy is still in choppy waters<\/strong> even after reaching an agreement with the IMF for a <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/ddd263a4-f28f-47d4-90e2-e93c3db56a26\">USD 3 bn bailout package<\/a> last month. The newswire says investors remain wary of the Egyptian market given our high debt servicing bill against the backdrop of an FX shortage and further expected weakening of the EGP against the USD.<\/p>\n<p><strong>Also making headlines: <\/strong><\/p>\n<ul>\n<li><strong>More COP critique: <\/strong>Oil executives reportedly engaged in a flurry of fossil-fuel dealmaking on the sidelines of COP27. (<a href=\"https:\/\/www.ft.com\/content\/3fe55c62-9e51-40fc-9b26-77b14d741fae\">FT<\/a>)<\/li>\n<li><strong>The new administrative capital\u2019s landmark Egypt Mosque <\/strong>and the historic Sultan Hassan mosque tell a tale of two Cairos. (<a href=\"https:\/\/www.archpaper.com\/2022\/11\/government-center-under-construction-east-cairo-issues\/\">The Architect\u2019s Newspaper<\/a>)<\/li>\n<li><strong>Greek authorities arrested seven Egyptians <\/strong>suspected of attempting to smuggle migrants on a boat that was rescued in Cretan waters on its way from Libya to Italy. (<a href=\"https:\/\/apnews.com\/article\/europe-middle-east-africa-egypt-arrests-1444550888be9a17142fb812adc7a189\">AP<\/a>)<\/li>\n<\/ul>\n\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/economy\/\">economy<\/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                    <\/div>\n    <\/div>\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"577542\" 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=\"577542\">\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\/27\/european-parliament-local-mps-exchange-harsh-words-over-human-rights\/\">\r\n                            European Parliament, local MPs exchange harsh words over human rights                        <\/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 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href=\"https:\/\/www.linkedin.com\/shareArticle?mini=true&url=https:\/\/enterpriseam.com\/egypt\/2022\/11\/27\/european-parliament-local-mps-exchange-harsh-words-over-human-rights\/&title=European Parliament, local MPs exchange harsh words over human rights\">\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=European+Parliament%2C+local+MPs+exchange+harsh+words+over+human+rights+https%3A%2F%2Fenterpriseam.com%2Fegypt%2F2022%2F11%2F27%2Feuropean-parliament-local-mps-exchange-harsh-words-over-human-rights%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\/27\/european-parliament-local-mps-exchange-harsh-words-over-human-rights\/\">\r\n                    <div class=\"photo photo--above\">\r\n                        <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2022\/11\/424.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"577543\" data-permalink=\"https:\/\/enterpriseam.com\/egypt\/2022\/11\/27\/european-parliament-local-mps-exchange-harsh-words-over-human-rights\/424-jpg-17\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2022\/11\/424.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"424.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2022\/11\/424.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2022\/11\/424.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-577542\" class=\"content-area-description single-story post-577542 post type-post status-publish format-standard has-post-thumbnail hentry category-diplomacy tag-alaa-abdel-fattah tag-diplomacy tag-enterpriseam tag-eu tag-house-of-representatives tag-human-rights 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-10\"><\/a> <strong>The EU isn\u2019t happy with our human rights record: <\/strong>The European Parliament last week released a <a href=\"https:\/\/www.europarl.europa.eu\/doceo\/document\/RC-9-2022-0505_EN.html\">resolution<\/a> criticizing Egypt\u2019s human rights record and calling for a \u201creview of the EU\u2019s relations with Egypt in light of the very limited progress on Egypt\u2019s human rights record and of its crackdown on dissent, despite continuing support from European partners.\u201d The joint motion \u2014 which seems to have already been debated and passed by European lawmakers \u2014 also called for the immediate and unconditional release of a number of political activists, journalists, lawyers and social media influencers, including <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/fc82c6ff-02f5-4f24-8c9e-66112996bf37\">British-Egyptian activist Alaa Abdel Fattah<\/a>.<\/p>\n<p><strong>Egyptian MPs push back: <\/strong>Egyptian parliament members attacked the resolution for being \u201carrogant,\u201d \u201cpoliticized\u201d and full of \u201cmisguided information,\u201d they said in a statement cited by <a href=\"https:\/\/english.ahram.org.eg\/NewsContent\/1\/1234\/480487\/Egypt\/Foreign-Affairs\/Egypt%E2%80%99s-parliament-slams-EP-resolution-on-human-ri.aspx\">Ahram Online<\/a>. They pointed to a number of factual inaccuracies in the statement, including that our years-long state of emergency is still in effect, despite <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/37f9968d-62f1-4803-9c5b-5cd1b4df7a59\">President Abdel Fattah El Sisi ending<\/a> it last year, and that Egypt sentences minors to the death penalty, which the MPs said is banned under legislation protecting children. \u201cLet us advise the EP that instead of using undocumented and misguided information about the situation of human rights in Egypt, it is better for its members to focus on the challenges facing human rights in the European Union countries \u2026 We see there is a systematic violation of human rights among EU countries,\u201d the statement said.<\/p>\n\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/alaa-abdel-fattah\/\">Alaa Abdel Fattah<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/diplomacy\/\">DIPLOMACY<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/eu\/\">EU<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/house-of-representatives\/\">House of Representatives<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/human-rights\/\">human rights<\/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=\"577546\" 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\/27\/577546\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-577546\" class=\"content-area-description single-story post-577546 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>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":577519,"menu_order":0,"template":"","categories":[],"tags":[],"class_list":["post-577518","issue","type-issue","status-publish","has-post-thumbnail","hentry","wpautop","entry"],"acf":{"mongo_id":"e1ee138f-b9aa-44c5-a5fd-d77be7507d2c","teaser":"","photo_url":"https:\/\/ent.news\/2022\/11\/408.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 QIA in talks to develop and manage Safaga port? 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