{"id":577799,"date":"2022-12-06T04:01:46","date_gmt":"2022-12-06T04:01:46","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/?post_type=issue&#038;p=577799"},"modified":"2025-12-16T11:25:18","modified_gmt":"2025-12-16T11:25:18","slug":"the-enterprise-climate-x-forum-is-happening-today","status":"publish","type":"issue","link":"https:\/\/enterpriseam.com\/egypt\/issues\/the-enterprise-climate-x-forum-is-happening-today\/","title":{"rendered":"The Enterprise Climate X Forum is happening today"},"content":{"rendered":"<section id=\"577801\" 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=\"577801\">\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\/12\/06\/this-morning-the-enterprise-climate-x-forum-takes-place-today\/\">\r\n                            THIS MORNING: The Enterprise Climate X Forum takes place 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\/12\/06\/this-morning-the-enterprise-climate-x-forum-takes-place-today\/\" target=\"_blank\">\n                    Open in new tab            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class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"577802\" data-permalink=\"https:\/\/enterpriseam.com\/egypt\/2022\/12\/06\/this-morning-the-enterprise-climate-x-forum-takes-place-today\/88-jpg-21\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2022\/12\/88.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"88.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2022\/12\/88.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2022\/12\/88.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-577801\" class=\"content-area-description single-story post-577801 post type-post status-publish format-standard has-post-thumbnail hentry category-what-were-tracking-today tag-abdel-fattah-el-sisi tag-china tag-diplomacy tag-enterpriseam tag-financial-markets tag-gold tag-insurance tag-ma-watch tag-misr-insurance-holding tag-saudi-arabia tag-what-were-tracking-today wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<aside>\t\t\t<div\r\n\t\t\t\t\t\t\t\tclass=\"newspack-popup-container newspack-popup hidden  newspack-inline-popup  newspack-lightbox-no-border   \"\r\n\t\t\t\trole=\"button\"\r\n\t\t\t\ttabindex=\"0\"\r\n\t\t\t\tstyle=\"background-color:#FFFFFF;color:#000\"\r\n\t\t\t\tid=\"id_27645\"\r\n\t\t\t\tdata-segments=\"\"\r\n\t\t\t\tdata-frequency=\"0,0,0,month\"\r\n\t\t\t>\r\n\t\t\t\t\n<div class=\"wp-block-group has-light-gray-background-color has-background\" style=\"padding-top:0px;padding-right:0px;padding-bottom:0px;padding-left:0px\"><div class=\"wp-block-group__inner-container is-layout-constrained wp-container-core-group-is-layout-ef38739e wp-block-group-is-layout-constrained\">\n<div class=\"wp-block-group is-content-justification-center is-nowrap is-layout-flex wp-container-core-group-is-layout-94bc23d7 wp-block-group-is-layout-flex\">\n<p class=\"f-graphik\" style=\"font-size:14px\">Together with<\/p>\n\n\n<div class=\"wp-block-image\">\n<figure class=\"aligncenter size-full\"><img decoding=\"async\" src=\"https:\/\/s3.amazonaws.com\/resources.inktankir.com\/internal\/27482.svg\" alt=\"\" class=\"wp-image-27482\"\/><\/figure>\n<\/div><\/div>\n<\/div><\/div>\n\t\t\t<\/div>\r\n\t\t<\/aside>\n<p><a id=\"tldr-story-01\" class=\"content-anchor\"><\/a><strong> Good morning, friends. We\u2019re really looking forward to seeing many of you <\/strong><strong>in a couple of hours\u2019 time at our Enterprise Climate X Forum<\/strong>, which gets underway this morning at 8am at the Grand Egyptian Museum.<\/p><p><strong>Please join us in thanking the wonderful people who made all this possible:<\/strong> USAID, HSBC, Mashreq, Attijariwafa Bank, Etisalat by e&amp;, Hassan Allam Utilities, and Infinity.<\/p><p><strong>If you\u2019re attending: Please plan to arrive on time.<\/strong> Our standing networking breakfast is one of the hallmarks of the event. It gets underway at 8am CLT sharp. Traffic in the area surrounding the GEM has been heavy of late, so you will likely want to leave a few minutes early.<\/p><p><strong>** You will need a special QR code <\/strong>to gain admission to the GEM. Everyone who received and completed our online registration form got their QR code by email on Sunday.<\/p><p><strong>We regret that overwhelming demand from the community meant we could not welcome everyone <\/strong>who expressed interest in attending.<\/p><p><strong>STAY TUNED- <\/strong>The Enterprise Climate X Forum is our first large-scale event, but it\u2019s not our last. We look forward to welcoming many more of you at our slate of Enterprise X Forums coming up in 2023.<\/p><p><strong>** We\u2019re taking a day off from the PM edition today.<\/strong> EnterprisePM will be back in your inboxes at the normal time on Wednesday.<\/p><hr class=\"grey-line\"><p><strong>WHAT\u2019S HAPPENING TODAY-<\/strong><\/p><p><strong>It\u2019s day two of <\/strong><strong><a href=\"https:\/\/foodafrica-expo.com\/\">Food Africa 2022<\/a><\/strong><strong> at the Egypt International Exhibitions Center.<\/strong> More than 440 exhibitors from 28 countries will be at the food expo, which runs through to tomorrow.<\/p><p><strong>Samir in the hot seat:<\/strong> Trade and Industry Minister Ahmed Samir will face questions from MPs today on issues facing manufacturers, including on licensing and exports, as well as what the ministry is doing to solve the crisis in the automotive industry.<\/p><p><strong>LATER THIS WEEK-<\/strong><\/p><p><strong>President Abdel Fattah El Sisi is in Riyadh later this week<\/strong> to attend the China-Arab summit that will coincide with Chinese President Xi Jinping\u2019s visit to the kingdom, Ala Mas\u2019ouleety\u2019s Ahmed Moussa said last night (<a href=\"https:\/\/www.youtube.com\/watch?v=1Ar0RJ5dWro\">watch, runtime: 3:40<\/a>). Some 12-14 Arab leaders are expected to attend the summit which will take place on Friday. The visit by Xi, who is set to arrive in the kingdom tomorrow for talks with King Salman and Crown Prince Mohamed bin Salman, comes amid fraying US-Saudi ties over energy policy and growing nerves in Washington about rising Chinese power in the region.<\/p><hr class=\"grey-line\"><p><a id=\"tldr-story-06\" class=\"content-anchor\"><\/a> <strong>WATCH THIS SPACE #1- Some gold merchants have stopped pricing the precious metal<\/strong> amid confusion about the USD price in the wake of October\u2019s devaluation. Local gold prices have surged to record highs this week, with 21 carat gold reaching EGP 1.8k. Demand for gold has surged in the wake of October\u2019s EGP devaluation which has seen the currency fall almost 25% against the USD.<\/p><p><strong>WATCH THIS SPACE<\/strong><strong> #2- Misr Ins. Holding is in advanced talks to acquire a <\/strong><strong>controlling stake in a healthcare third-party administrator<\/strong><strong> (TPA<\/strong><strong>)<\/strong>, Chairman Basel El Hini told Enterprise yesterday. The company is hoping to close the acquisition within a month, he said. El Hini did not disclose the exact size or value of the stake. The news was originally reported by <a href=\"https:\/\/bit.ly\/3iEwpyb\">Al Mal<\/a>.<\/p><p><strong>SOUND SMART- <\/strong>A TPA is typically an organization that helps streamline admin processes and can help make the ins. process more efficient.<\/p><p><strong>PSA- Rice hoarders have until Christmas Day to come forward: <\/strong>Rice producers, sellers and distributors now have until 25 December to notify the Supply Ministry of how much rice they\u2019ve stockpiled and where they\u2019re keeping it, the ministry <a href=\"https:\/\/www.facebook.com\/EgyptianCabinet\/posts\/pfbid0RSwDRMHpa1UMEjGup6MNdgt4jiwpT3kZqpq2RTrVsxfLTwd6CRjYRLk1ERrYcbVol\">said<\/a> yesterday. The ministry has pushed the deadline from the previously announced <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/a3c8bf0f-0f62-45ff-9ba1-9a3edd9b892e\">4 December<\/a>.<\/p><p><strong>REMEMBER- <\/strong>Rice has been designated as a \u201c<a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/087516ce-2d80-407c-a539-7782ac0a6a8b\">strategic commodity<\/a>\u201d for at least three months under efforts to deter traders who try to exploit the shortage of commodities.<\/p><p class=\"web-image\"><img data-recalc-dims=\"1\" decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2022\/12\/Brazil-v-South-Korea-World-Cup-1600px.jpg?ssl=1\" alt=\"enterprise\"><\/p><p><strong>WORLD CUP-<\/strong><\/p><p><strong>Brazil set for Croatia clash in the World Cup quarter-final: <\/strong>Brazil danced its way to the quarter finals of the World Cup last night, sweeping aside South Korea with an impressive 4-1 win. Richarlison bagged one of the goals of the tournament, Neymar converted a penalty, while Vinicius Jr and Lucas Paqueta also got on the scoresheet in the first half. Croatia also booked their place in the next round yesterday, beating Japan on penalties.<\/p><p><strong>Up today:<\/strong> It\u2019s the final batch of R16 games (all times CLT):<\/p><ul>\n<li>The Arab world will be cheering on <strong>Morocco<\/strong> when they meet <strong>Spain<\/strong> this evening at <strong>5pm<\/strong>.<\/li>\n<li><strong>Portugal<\/strong> play <strong>Switzerland<\/strong> at <strong>9pm<\/strong>.<\/li>\n<\/ul><p><strong>THE BIG STORIES ABROAD-<\/strong><\/p><p><strong>No single story is dominating the global front pages this morning:<\/strong><\/p><ul>\n<li><strong>The UK is readying \u201csweeping\u201d crypto regulations<\/strong> in the wake of FTX\u2019s collapse last month. (<a href=\"https:\/\/www.ft.com\/content\/481d45d8-943e-484b-84ca-3b11f02c0ee4\">FT<\/a>)<\/li>\n<li><strong>Pepsico will cut hundreds of jobs<\/strong> in North America. (<a href=\"https:\/\/www.wsj.com\/articles\/pepsico-to-lay-off-hundreds-of-workers-in-headquarters-roles-11670276051?mod=hp_lead_pos1\">WSJ<\/a>)<\/li>\n<li><strong>Ukraine has hit air bases deep into Russian territory<\/strong> while a new wave of missile strikes on the Ukrainian electricity grid has Kyiv warning of emergency blackouts. (<a href=\"https:\/\/apnews.com\/article\/russia-ukraine-zelenskyy-united-states-europe-european-union-a1a82a936964ee01b86e3502e16e9ff4?utm_source=homepage&amp;utm_medium=TopNews&amp;utm_campaign=position_03\">Associated Press<\/a> | <a href=\"https:\/\/www.reuters.com\/world\/europe\/ukraine-warns-emergency-blackouts-after-more-missile-hits-2022-12-05\/\">Reuters<\/a>)<\/li>\n<\/ul><div class=\"row\">\n<div class=\"col-md-12 subscribe-box-panel\">\n<div class=\"\">\n<div class=\"title\">\n<h4 class=\"fw-lighter mb-10\">\n          Get <b style=\"font-weight: 700\">Enterprise<\/b> daily<br>\n        <\/h4>\n<\/div>\n<p class=\"mb-10\">The roundup of news and trends that move your markets and shape corporate agendas delivered straight to your inbox.<\/p>\n<p>      <a href=\"egypt\/en\/user\/NewsLetters\" type=\"button \" class=\"btn-green px-3 d-flex align-items-center\">Subscribe here<\/a>\n    <\/p><\/div>\n<\/div>\n<\/div><p><strong>MARKET WATCH-<\/strong><\/p><p><strong>US stocks fell and bond yields rose yesterday after unexpectedly strong economic data <\/strong><strong>raised concerns that the Federal Reserve will continue to raise interest rates to quell inflation<\/strong>, <a href=\"https:\/\/www.bloomberg.com\/news\/articles\/2022-12-04\/dollar-edges-up-amid-focus-on-jobs-report-china-markets-wrap?srnd=premium&amp;sref=mmeFTDW1\">Bloomberg<\/a> reported. The S&amp;P 500 was down 1.8%, with 95% of the benchmark index\u2019s companies in red, while the tech-heavy Nasdaq lost 1.7%. A pullback in US debt markets led 10-year yields to advance 3.6%. \u201cGood economic news is bad news for stocks as it will keep the risk elevated that rates might have to end up higher later next year,\u201d one analyst told the news outlet.<\/p><p><strong>It\u2019s a mixed picture in Asia this morning:<\/strong> Shares in China are continuing to gain as authorities ease covid-19 curbs, but bourses elsewhere are feeling the impact of yesterday\u2019s Wall Street sell-off, with the Hang Seng falling 1.0%, the Kospi down 0.4%, the ASX losing 0.1%.<\/p><p><strong>More volatility in Europe + New York today:<\/strong> Markets across Europe are expected to open in the red later this morning while US stock futures are currently flat.<\/p><p><strong>CIRCLE YOUR CALENDAR-<\/strong><\/p><p><strong>Key news triggers to keep an eye on this week and beyond:<\/strong><\/p><ul>\n<li><strong>Inflation:<\/strong> Inflation data for November will land on Thursday, 8 December.<\/li>\n<li><strong>Foreign reserves figures<\/strong> for November should be out sometime this week.<\/li>\n<li><strong>Interest rates:<\/strong> The Central Bank of Egypt\u2019s Monetary Policy Committee meets on Thursday, 22 December to review interest rates.<\/li>\n<\/ul><p><strong>The cabinet\u2019s Information and Decision Support Center (IDSC) will kick off the<\/strong><strong> first session of its new intellectual forum on Thursday, 8 December<\/strong>, according to a <a href=\"https:\/\/www.facebook.com\/EgyptianCabinet\/posts\/pfbid02tGCH35w2D7RNNtWMJP7LD8nThnMWSu7m3uK2DDby5gcAmJ9x7iDsPK7qcBga3MR3l\">statement<\/a>. The weekly forum will see experts including government officials, academics, representatives of multilateral institutions, MPs, and national dialogue members meet to discuss key policy questions and make recommendations on them to the prime minister.<\/p><p><strong>Thursday\u2019s session will cover fiscal discipline and sustainability.<\/strong> The remainder of the December sessions will focus on our investment environment; ways to support sustainable agriculture in line with Europe\u2019s <a href=\"https:\/\/ec.europa.eu\/info\/strategy\/priorities-2019-2024\/european-green-deal_en\">Green Deal<\/a>; and the latest in Ukraine.<\/p><p><strong><a href=\"https:\/\/enterprise.press\/am-edition\/#calendar\">Check out our full calendar on the web<\/a><\/strong> for a comprehensive listing of upcoming news events, national holidays and news triggers.<\/p><p class=\"web-image\"><img data-recalc-dims=\"1\" decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2021\/3\/INFINITY-Top-banner-EN-1600x675-v2-02.png?ssl=1\" alt=\"enterprise\"><\/p><p><strong>*** It\u2019s Going Green day \u2014 your weekly briefing of all things green in Egypt:<\/strong> Enterprise\u2019s green economy vertical focuses each Tuesday on the business of renewable energy and sustainable practices in Egypt, everything from solar and wind energy through to water, waste management, sustainable building practices and how you can make your business greener, whatever the sector.<\/p>\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/abdel-fattah-el-sisi\/\">Abdel Fattah El Sisi<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/china\/\">China<\/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\/financial-markets\/\">Financial Markets<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/gold\/\">gold<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/insurance\/\">insurance<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/ma-watch\/\">M&amp;A Watch<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/misr-insurance-holding\/\">Misr Insurance Holding<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/saudi-arabia\/\">Saudi Arabia<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/what-were-tracking-today\/\">What We&#039;re Tracking Today<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                    <\/div>\n    <\/div>\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"577803\" 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=\"577803\">\r\n            \r\n            <div class=\"story__body\">\r\n\r\n                <a href=\"https:\/\/enterpriseam.com\/egypt\/2022\/12\/06\/577803\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-577803\" class=\"content-area-description single-story post-577803 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 +20 155 600 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=\"577804\" 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=\"577804\">\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\">Economy<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2022\/12\/06\/private-sector-contraction-deepens-following-egp-devaluation\/\">\r\n                            Private-sector contraction deepens following EGP devaluation                        <\/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\/12\/06\/private-sector-contraction-deepens-following-egp-devaluation\/\" 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\/12\/06\/private-sector-contraction-deepens-following-egp-devaluation\/')\">\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\/12\/06\/private-sector-contraction-deepens-following-egp-devaluation\/\">\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=Private-sector contraction deepens following EGP devaluation&url=https:\/\/enterpriseam.com\/egypt\/2022\/12\/06\/private-sector-contraction-deepens-following-egp-devaluation\/\">\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\/12\/06\/private-sector-contraction-deepens-following-egp-devaluation\/&title=Private-sector contraction deepens following EGP devaluation\">\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=Private-sector+contraction+deepens+following+EGP+devaluation+https%3A%2F%2Fenterpriseam.com%2Fegypt%2F2022%2F12%2F06%2Fprivate-sector-contraction-deepens-following-egp-devaluation%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\/12\/06\/private-sector-contraction-deepens-following-egp-devaluation\/\">\r\n                    <div class=\"photo photo--above\">\r\n                        <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2022\/12\/89.png?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"577805\" data-permalink=\"https:\/\/enterpriseam.com\/egypt\/2022\/12\/06\/private-sector-contraction-deepens-following-egp-devaluation\/89-png\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2022\/12\/89.png?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"89.png\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2022\/12\/89.png?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2022\/12\/89.png?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-577804\" class=\"content-area-description single-story post-577804 post type-post status-publish format-standard has-post-thumbnail hentry category-economy tag-devaluation tag-economy tag-enterpriseam tag-inflation tag-pmi 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>Private sector activity takes a hit following devaluation:<\/strong> The contraction in Egypt\u2019s private sector deepened in November as the <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/60dc5b0c-8c51-4c61-aa04-54e46a86a7c6\">depreciation of the EGP<\/a> triggered a surge in inflation, according to S&P Global\u2019s <a href=\"https:\/\/ent.news\/2022\/12\/8d4cc80812f04131b0d7a3f04ab4e743.pdf\">purchasing managers\u2019 index (pdf)<\/a>. The PMI index fell to 45.4 from 47.7 in <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/73e5e94d-9c27-44ed-8a54-c8efb58292a7\">October<\/a>, falling further below the 50.0 threshold that separates growth from contraction to hit its lowest level <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/45596e8c-f127-4f62-b1cb-402f45ae4a0b\">since June<\/a>.<\/p>\n<p><strong>Inflation at 4+ year high:<\/strong> Purchase price inflation rose at its fastest rate in more than four years, with more than 42% of businesses reporting an increase in overall costs. That is 3x higher than those who saw an increase in selling prices, suggesting that \u201cmost firms were shouldering the burden of rising costs as demand continues to worsen,\u201d S&P Global economist David Owen said. The central bank will release November\u2019s inflation figures on Thursday, 8 December.<\/p>\n<p><strong>Thanks, EGP:<\/strong> \u201cEgyptian firms faced an immediate hit to demand from a rapid depreciation of the EGP since late October,\u201d David Owen, economist at S&P Global, wrote. The currency has tumbled 24.6% against the USD since late October when the central bank moved to a flexible exchange rate. This \u201cled to a marked increase in prices paid for raw materials, which have already been exacerbated by import restrictions since early-2022,\u201d Owen wrote.<\/p>\n<p><strong>Output + demand at lowest levels since pandemic peak:<\/strong> Businesses suffered the worst falls in output and new orders since the height of the pandemic shock in May 2020. Outside of covid-19, this was the most severe downturn since January 2017.<\/p>\n<p><strong>Import restrictions are not letting up either:<\/strong> Firms also reported continuing supply disruptions amid <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/f672467e-6883-4598-b682-514b16c303de\">ongoing import restrictions<\/a>, which were exacerbated by the rising costs of raw materials on the back of the devaluation, the survey notes. This prompted companies to cut input buying levels and utilize existing stocks, slightly affecting inventory levels, it added. The central bank is now in the process of <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/ddd263a4-f28f-47d4-90e2-e93c3db56a26\">rolling back<\/a> the import curbs it put in place <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/f1237459-2827-438d-96c3-8fe7a8dce26e\">earlier this year<\/a>, with plans to phase them out completely by the end of the year.<\/p>\n<p><strong>On the bright side: <\/strong>Companies expanded their headcount at the quickest rate in more than three years, as business sentiment recovered slightly from an all-time-low in October. Owen also signaled a potential relief on price pressures in the medium- to long-term on the back of slowing demand and falling commodity prices.<\/p>\n<p><strong>Two years and counting:<\/strong> The last time the PMI was in the green was all the way back <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/17d5b6b4-283f-4d7b-aba6-e4c960b0042e\">in<\/a><a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/17d5b6b4-283f-4d7b-aba6-e4c960b0042e\">November 2020<\/a>.<\/p>\n<p><strong>The release got coverage internationally:<\/strong> <a href=\"https:\/\/www.reuters.com\/world\/middle-east\/egypt-private-sector-shrinks-november-after-devaluation-pmi-2022-12-05\/\">Reuters<\/a> | <a href=\"https:\/\/www.bloomberg.com\/news\/articles\/2022-12-05\/egypt-devaluation-sends-business-conditions-into-deeper-declines?srnd=premium-middle-east\">Bloomberg<\/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\/devaluation\/\">devaluation<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/economy\/\">economy<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/inflation\/\">inflation<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/pmi\/\">PMI<\/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=\"577806\" 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=\"577806\">\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\">IPO<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2022\/12\/06\/egx-greenlights-listing-of-state-owned-ports-company-ahead-of-ipo\/\">\r\n                            EGX greenlights listing of state-owned ports company ahead of IPO                        <\/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\/12\/06\/egx-greenlights-listing-of-state-owned-ports-company-ahead-of-ipo\/\" 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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Local media has reported that the company is looking to sell a <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/76937c25-3c19-442b-995a-5cf50812c220\">25% stake<\/a> in 1Q 2023. Trading on its shares will eventually take place under the ticker POCO.CA.<\/p>\n<p><strong>Will<\/strong> <strong><a href=\"http:\/\/dchc.com.eg\/\">Damietta Container & Cargo Handling Company (DCHC)<\/a><\/strong><strong> be next? <\/strong>The EGX approval comes the day after reports that the ordinary general assemblies of PSCCHC and sister company DCHC both approved IPO plans. Both subsidiaries of the Holding Company for Maritime Transport are eyeing 25% stake sales, according to the domestic press. The Madbouly government is reportedly <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/f071461a-67ca-4eda-97bf-6c10415a375d\">planning to IP<\/a><a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/f071461a-67ca-4eda-97bf-6c10415a375d\">O<\/a> the two companies in 1Q 2023, along with a Nilex listing for the <a href=\"https:\/\/www.martrans-egypt.com\/\">Egyptian Company For Maritime Transport<\/a> (Martrans) and <a href=\"http:\/\/www.egywarehouses.com\/&sa=D&source=docs&ust=1667440662559107&usg=AOvVaw3kvidIqPJyqSYqorqDGGXQ\">General Egyptian Warehouse Company<\/a>.<\/p>\n<p><strong>The EGX is gearing up for at least five listings \u201cin the coming period,\u201d <\/strong><a href=\"https:\/\/bit.ly\/3VzfRX1\">Al Mal<\/a> quotes EGX boss Ramy El Dokany as saying at a conference yesterday. Finance Minister Mohamed Maait <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/76937c25-3c19-442b-995a-5cf50812c220\">also said<\/a> earlier this week that the government could sell stakes in companies in the banking and oil sectors before March 2023.<\/p>\n<p><strong>In the pipeline: <\/strong>Banque du Caire (BdC) was planning to make its debut this year but decided in July to <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/004a2209-c482-4067-af0e-5ba87566e2d4\">postpone the sale<\/a> until market conditions improve; It now has until <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/e107adf1-0206-4eff-b9f5-6b0fdabc39b9\">31 March 2023<\/a> to finish the IPO procedures. The Suez Canal Authority (SCA) <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/a8713af9-263c-47e8-83ae-b448caf106bc\">had also been planning<\/a> to IPO the <a href=\"https:\/\/www.cml-egypt.com\/index.html\">Canal Mooring & Lights Company<\/a> on the EGX at the end of the year.<\/p>\n<p><strong>Market conditions have staged a recovery from an intense sell-off on the back of the crisis in Ukraine<\/strong>, helped by last month\u2019s <a href=\"https:\/\/enterprise.press\/afternoons\/pm-taweem-3-0-sees-egp-at-23-03-against-the-greenback\/\">currency float<\/a> and the announcement of a USD 3 bn IMF bailout package. The sell-offs had led to the postponement of at least two IPOs and forced the government to rethink its privatization plans, which at the beginning of the year envisaged <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/341bd556-a758-49d4-9aa9-1852ae8a3d9f\">as many as 10 state-owned companies<\/a> selling shares on the bourse.<\/p>\n<p><strong>The bourse is currently in talks with Arab investors to help attract large firms to the EGX, <\/strong>El Dokany is quoted as saying at yesterday\u2019s conference. The EGX recently kickstarted a series of roadshows across the GCC that has taken it to Oman and the UAE to help drum up investments in our bourse.<\/p>\n\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/egx\/\">EGX<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/ipo-watch\/\">IPO watch<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/port-said-container-cargo-handling-company\/\">Port Said Container &amp; Cargo Handling Company<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/ramy-el-dokany\/\">Ramy El Dokany<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/state-ipo-program\/\">state IPO program<\/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=\"577808\" 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=\"577808\">\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\">Tax<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2022\/12\/06\/tax-authority-tells-self-employed-to-register-for-e-invoicing-amid-growing-protests\/\">\r\n                            Tax Authority tells self-employed to register for e-invoicing amid growing protests                        <\/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\/12\/06\/tax-authority-tells-self-employed-to-register-for-e-invoicing-amid-growing-protests\/\" 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\/12\/06\/tax-authority-tells-self-employed-to-register-for-e-invoicing-amid-growing-protests\/')\">\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\/12\/06\/tax-authority-tells-self-employed-to-register-for-e-invoicing-amid-growing-protests\/\">\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=Tax Authority tells self-employed to register for e-invoicing amid growing protests&url=https:\/\/enterpriseam.com\/egypt\/2022\/12\/06\/tax-authority-tells-self-employed-to-register-for-e-invoicing-amid-growing-protests\/\">\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\/12\/06\/tax-authority-tells-self-employed-to-register-for-e-invoicing-amid-growing-protests\/&title=Tax Authority tells self-employed to register for e-invoicing amid growing protests\">\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=Tax+Authority+tells+self-employed+to+register+for+e-invoicing+amid+growing+protests+https%3A%2F%2Fenterpriseam.com%2Fegypt%2F2022%2F12%2F06%2Ftax-authority-tells-self-employed-to-register-for-e-invoicing-amid-growing-protests%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\/12\/06\/tax-authority-tells-self-employed-to-register-for-e-invoicing-amid-growing-protests\/\">\r\n                    <div class=\"photo photo--above\">\r\n                        <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2022\/12\/91.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"577809\" data-permalink=\"https:\/\/enterpriseam.com\/egypt\/2022\/12\/06\/tax-authority-tells-self-employed-to-register-for-e-invoicing-amid-growing-protests\/91-jpg-24\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2022\/12\/91.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"91.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2022\/12\/91.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2022\/12\/91.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-577808\" class=\"content-area-description single-story post-577808 post type-post status-publish format-standard has-post-thumbnail hentry category-tax tag-enterpriseam tag-tax tag-tax-authority wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<p><a id=\"tldr-story-03\" class=\"content-anchor\"><\/a> <strong>The taxman isn\u2019t backing down on e-invoicing:<\/strong> Lawyers will not be granted an exemption from registering on the government\u2019s e-invoicing system, the head of the Tax Authority <a href=\"https:\/\/www.alborsaanews.com\/2022\/12\/05\/1605415\">said yesterday<\/a> in the wake of <a href=\"https:\/\/bit.ly\/3VXYE9z\">rare protests<\/a> in several parts of the country. Hundreds of lawyers <a href=\"https:\/\/bit.ly\/3VXYE9z\">gathered<\/a> outside syndicates in Cairo, Alexandria, Assiut and elsewhere yesterday in opposition to the rules, which they say will hit them with huge fees.<\/p>\n<p><strong>REMEMBER-<\/strong> The Tax Authority is requiring self-employed professionals, including doctors, engineers, lawyers and artists to register on the e-invoicing system by 15 December.<\/p>\n<p><strong>This was the second protest in a week<\/strong>, with a smaller one taking place last Thursday. In statements to <a href=\"https:\/\/www.barrons.com\/news\/egypt-lawyers-hold-rare-protest-in-central-cairo-01670252707?tesla=y\">AFP<\/a>, lawyer Tarek Al Awady claimed that \u201cthousands\u201d of lawyers turned out yesterday to oppose e-invoicing, which he said could impose fees exceeding what an average law firm makes in four months.<\/p>\n<p><strong>Taxman takes no [redacted]:<\/strong> Tawfik said that the authority will impose penalties on everyone who fails to register on the system by 15 December. Sources at the authority said that those who don\u2019t meet the deadline could be fined between EGP 20k and EGP 100k. They will also be included in a \u201cblacklist\u201d of those who have not registered, and won\u2019t be able to claim VAT and other tax rebates.<\/p>\n<p><strong>It\u2019s not just lawyers who aren\u2019t happy:<\/strong> The decision has recently <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/f4811d17-4f27-4d5b-afef-3cbec01f797b\">sparked backlash<\/a> among a number of self-employed professions, including doctors and pharmacists who are calling on the Finance Ministry to scrap or delay the 15 December deadline.<\/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\/tax\/\">tax<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/tax-authority\/\">Tax Authority<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                    <\/div>\n    <\/div>\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"577810\" 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=\"577810\">\r\n            \r\n                <div class=\"issue-story-header text-center\">\r\n                    <div class=\"index-number\">5<\/div>\r\n\r\n                    <p class=\"f-graphik\">Startup watch<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2022\/12\/06\/oneorder-closes-usd-3-mn-round-sideup-raises-usd-1-2-mn\/\">\r\n                            OneOrder closes USD 3 mn round + SideUp raises USD 1.2 mn                        <\/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\/12\/06\/oneorder-closes-usd-3-mn-round-sideup-raises-usd-1-2-mn\/\" 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\/12\/06\/oneorder-closes-usd-3-mn-round-sideup-raises-usd-1-2-mn\/')\">\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\/12\/06\/oneorder-closes-usd-3-mn-round-sideup-raises-usd-1-2-mn\/\">\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=OneOrder closes USD 3 mn round + SideUp raises USD 1.2 mn&url=https:\/\/enterpriseam.com\/egypt\/2022\/12\/06\/oneorder-closes-usd-3-mn-round-sideup-raises-usd-1-2-mn\/\">\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\/12\/06\/oneorder-closes-usd-3-mn-round-sideup-raises-usd-1-2-mn\/&title=OneOrder closes USD 3 mn round + SideUp raises USD 1.2 mn\">\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=OneOrder+closes+USD+3+mn+round+%2B+SideUp+raises+USD+1.2+mn+https%3A%2F%2Fenterpriseam.com%2Fegypt%2F2022%2F12%2F06%2Foneorder-closes-usd-3-mn-round-sideup-raises-usd-1-2-mn%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\/12\/06\/oneorder-closes-usd-3-mn-round-sideup-raises-usd-1-2-mn\/\">\r\n                    <div class=\"photo photo--above\">\r\n                        <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2022\/12\/92.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"577811\" data-permalink=\"https:\/\/enterpriseam.com\/egypt\/2022\/12\/06\/oneorder-closes-usd-3-mn-round-sideup-raises-usd-1-2-mn\/92-jpg-16\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2022\/12\/92.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"92.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2022\/12\/92.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2022\/12\/92.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-577810\" class=\"content-area-description single-story post-577810 post type-post status-publish format-standard has-post-thumbnail hentry category-startup-watch tag-e-commerce tag-enterpriseam tag-fb tag-logistics tag-oneorder tag-sideup tag-startup-watch tag-startups 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-05\"><\/a> <strong>One Orde<\/strong><strong>r raises USD 3 mn in Nclude-led seed round: <\/strong>Tech-enabled F&B logistics platform <a href=\"https:\/\/www.oneorder.net\/\">OneOrder<\/a> has closed a USD 3 mn seed round led by local fintech fund <a href=\"https:\/\/www.nclude.com\/\">Nclude<\/a>, with participation from follow-on investor <a href=\"https:\/\/www.a15.com\/\">A15<\/a>, and <a href=\"https:\/\/dhventures.vc\/\">Delivery Hero\u2019s VC arm<\/a>, <a href=\"https:\/\/techcrunch.com\/2022\/12\/05\/with-3m-new-funding-egyptian-startup-oneorder-sets-out-on-growth-drive\/\">Techcrunch<\/a> reports.<\/p>\n<p><strong>About OneOrder: <\/strong>Founded earlier this year by restaurateur Tamer Amer (<a href=\"https:\/\/www.linkedin.com\/in\/tamer-amer-529668210\/\">LinkedIn<\/a>), the company offers a one-stop shop for restaurants to source all their produce and equipment. It seeks to address inefficiencies and fragmentation in the restaurant supply chain and standardize quality, prices and delivery times. OneOrder <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/1fce3958-8452-4138-a302-2683a4cf95c5\">secured a USD 1 mn funding round<\/a> led by A15 in tandem with its launch in February.<\/p>\n<p><strong>Expansion on the horizon: <\/strong>The startup aims to use the capital to increase its network of local warehouses. It will also explore regional expansion opportunities across Africa and the GCC, including in Saudi Arabia.<\/p>\n<p><strong>Read more: <\/strong>Amer was our <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/4e5dc813-1e7e-4cf1-8741-f94af81a850d\">Founder of the Week<\/a> earlier this year.<\/p>\n<hr class=\"grey-line\">\n<p><strong>VOO rebrands as SideUp + closes USD 1.2 mn seed round ahead of move to Riyadh: <\/strong>E-commerce platform <a href=\"https:\/\/www.getvoo.com\/\">SideUp<\/a> (formerly known as VOO) raised USD 1.2 mn in a seed round from <a href=\"https:\/\/launchafrica.vc\/\">Launch Africa Ventures<\/a>, <a href=\"https:\/\/500.co\/\">500 Global<\/a>, <a href=\"https:\/\/riyadhangels.com\/home-default\">Riyadh Angel Investors<\/a>, <a href=\"https:\/\/www.alexandriaangels.com\/\">Alexandria Angels<\/a>, Al Tuwaijri Fund and Saudi angel investor Faisal Al-Abdulsalam (<a href=\"https:\/\/www.linkedin.com\/in\/faisal-al-abdulsalam\/\">LinkedIn<\/a>), the company said in <a href=\"https:\/\/www.zawya.com\/en\/press-release\/companies-news\/egypts-sideup-raises-12mln-seed-round-from-global-and-regional-investors-sk2jve3v\">a statement<\/a> yesterday.<\/p>\n<p><strong>About SideUp:<\/strong> The startup was founded as logistics and on-demand delivery app VOO in 2019 before <a href=\"https:\/\/www.linkedin.com\/feed\/update\/urn:li:activity:7000112402478325760\/\">rebranding as SideUp<\/a> last month. SideUp connects e-commerce players with B2B services companies who provide payment gateways, API integration, warehousing, fulfillment, and advisory. The company currently works with over 2k e-commerce businesses.<\/p>\n<p><strong>Why the rebrand? <\/strong>\u201cVOO was indicative of the speed with which we moved \u2026 as we grew, and expanded our services to payment gateways, API integration for shipping, warehousing, fulfillment, advisory and much more, there was a need to highlight our role in empowering e-commerce business owners,\u201d founder and CEO Waleed Rashed (<a href=\"https:\/\/www.linkedin.com\/in\/waleedrashed\/\">LinkedIn<\/a>) told Enterprise. The SideUp name highlights the company\u2019s ability to work side by side with entrepreneurs, he said.<\/p>\n<p><strong>SideUp is moving its HQ from Egypt to Riyadh amid regional expansion plans: <\/strong>With its newly secured funding, SideUp plans to launch in Saudi Arabia over the next 12 months, and relocate its HQ from Egypt to Riyadh. Despite this, the startup says it will \u201cdouble down\u201d on its Egyptian operations, as well as target one other country in the GCC or Africa. \u201cBeing in Saudi also gives us access to new markets in the GCC as well as the rest of Africa \u2026 Here in Saudi Arabia, we have access to a young population, digital infrastructure, and small business owners who want to benefit from the e-commerce industry,\u201d Rashed told us.<\/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\/e-commerce\/\">e-commerce<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/fb\/\">F&amp;B<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/logistics\/\">logistics<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/oneorder\/\">OneOrder<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/sideup\/\">SideUp<\/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\/startups\/\">startups<\/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=\"577812\" 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=\"577812\">\r\n            \r\n                <div class=\"issue-story-header text-center\">\r\n                    <div class=\"index-number\">6<\/div>\r\n\r\n                    <p class=\"f-graphik\">LEGISLATION WATCH<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2022\/12\/06\/a-new-look-competition-act-is-one-step-closer\/\">\r\n                            A new-look Competition Act is one step closer                        <\/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\/12\/06\/a-new-look-competition-act-is-one-step-closer\/\" 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\/12\/06\/a-new-look-competition-act-is-one-step-closer\/')\">\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\/12\/06\/a-new-look-competition-act-is-one-step-closer\/\">\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=A new-look Competition Act is one step closer&url=https:\/\/enterpriseam.com\/egypt\/2022\/12\/06\/a-new-look-competition-act-is-one-step-closer\/\">\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\/12\/06\/a-new-look-competition-act-is-one-step-closer\/&title=A new-look Competition Act is one step closer\">\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=A+new-look+Competition+Act+is+one+step+closer+https%3A%2F%2Fenterpriseam.com%2Fegypt%2F2022%2F12%2F06%2Fa-new-look-competition-act-is-one-step-closer%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\/12\/06\/a-new-look-competition-act-is-one-step-closer\/\">\r\n                    <div class=\"photo photo--above\">\r\n                        <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2022\/12\/93.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"577813\" data-permalink=\"https:\/\/enterpriseam.com\/egypt\/2022\/12\/06\/a-new-look-competition-act-is-one-step-closer\/93-jpg-15\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2022\/12\/93.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"93.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2022\/12\/93.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2022\/12\/93.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-577812\" class=\"content-area-description single-story post-577812 post type-post status-publish format-standard has-post-thumbnail hentry category-legislation-watch tag-competition-act tag-energy tag-enterpriseam tag-house-of-representatives tag-legislation-watch tag-oil-and-gas wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<p><strong>One step closer to a new-look Competition Act:<\/strong> The House of Representatives approved amendments to the Competition Act yesterday, with a final vote on the bill delayed to an upcoming session. The <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/3582805e-b867-4076-9e5e-bff71e01f886\">amendments<\/a>, which got a preliminary approval by the House earlier this week, would give the Egyptian Competition Authority (ECA) sharper teeth to regulate M&As.<\/p>\n<p><strong>Also getting a nod by MPs:<\/strong> MPs approved three oil exploration agreements in the Western Desert signed with Energean and Croatia-based INA, Kuwait Energy Egypt, and the Egyptian National Petroleum for Exploration and Development Company (Enpedco).<\/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\/competition-act\/\">Competition Act<\/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\/house-of-representatives\/\">House of Representatives<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/legislation-watch\/\">Legislation Watch<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/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=\"577814\" 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=\"577814\">\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\">Moves<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2022\/12\/06\/the-ex-cfo-of-kingdom-holding-was-just-made-an-assistant-minister-at-the-tourism-ministry\/\">\r\n                            The ex-CFO of Kingdom Holding was just made an assistant minister at the Tourism Ministry                        <\/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\/12\/06\/the-ex-cfo-of-kingdom-holding-was-just-made-an-assistant-minister-at-the-tourism-ministry\/\" 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\/12\/06\/the-ex-cfo-of-kingdom-holding-was-just-made-an-assistant-minister-at-the-tourism-ministry\/')\">\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\/12\/06\/the-ex-cfo-of-kingdom-holding-was-just-made-an-assistant-minister-at-the-tourism-ministry\/\">\n                    Facebook                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/facebook-icon2.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a target=\"_blank\" href=\"https:\/\/x.com\/intent\/post?text=The ex-CFO of Kingdom Holding was just made an assistant minister at the Tourism Ministry&url=https:\/\/enterpriseam.com\/egypt\/2022\/12\/06\/the-ex-cfo-of-kingdom-holding-was-just-made-an-assistant-minister-at-the-tourism-ministry\/\">\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\/12\/06\/the-ex-cfo-of-kingdom-holding-was-just-made-an-assistant-minister-at-the-tourism-ministry\/&title=The ex-CFO of Kingdom Holding was just made an assistant minister at the Tourism Ministry\">\n                    LinkedIn                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/linkedin-icon.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a href=\"https:\/\/api.whatsapp.com\/send?text=The+ex-CFO+of+Kingdom+Holding+was+just+made+an+assistant+minister+at+the+Tourism+Ministry+https%3A%2F%2Fenterpriseam.com%2Fegypt%2F2022%2F12%2F06%2Fthe-ex-cfo-of-kingdom-holding-was-just-made-an-assistant-minister-at-the-tourism-ministry%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\/12\/06\/the-ex-cfo-of-kingdom-holding-was-just-made-an-assistant-minister-at-the-tourism-ministry\/\">\r\n                    <div class=\"photo photo--above\">\r\n                        <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2022\/12\/94.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"577815\" data-permalink=\"https:\/\/enterpriseam.com\/egypt\/2022\/12\/06\/the-ex-cfo-of-kingdom-holding-was-just-made-an-assistant-minister-at-the-tourism-ministry\/94-jpg-25\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2022\/12\/94.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"94.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2022\/12\/94.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2022\/12\/94.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-577814\" class=\"content-area-description single-story post-577814 post type-post status-publish format-standard has-post-thumbnail hentry category-moves tag-enterpriseam tag-kingdom-holding tag-moves tag-palm-hills-developments tag-tourism tag-tourism-and-antiquities-ministry wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<p><strong>Mohamed Fahmy<\/strong> (<a href=\"https:\/\/www.linkedin.com\/in\/mohamed-fahmy-85875525\/\">LinkedIn<\/a>) has been appointed <strong>assistant tourism minister for economic <\/strong><strong>affairs<\/strong>, the ministry <a href=\"https:\/\/bit.ly\/3Bb50du\">said<\/a> yesterday. Fahmy holds over 30 years of experience in several local and global banks and companies, where he worked as a specialist in M&As. He has served as the CFO for Prince Alwaleed bin Talal\u2019s Kingdom Holding, and was previously both the COO and the CFO at Palm Hills Developments.<\/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\/kingdom-holding\/\">Kingdom Holding<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/moves\/\">moves<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/palm-hills-developments\/\">Palm Hills Developments<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/tourism\/\">tourism<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/tourism-and-antiquities-ministry\/\">Tourism and Antiquities Ministry<\/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=\"577816\" 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=\"577816\">\r\n            \r\n            <div class=\"story__body\">\r\n\r\n                <a href=\"https:\/\/enterpriseam.com\/egypt\/2022\/12\/06\/577816\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-577816\" class=\"content-area-description single-story post-577816 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\/2-SODIC-Startup-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=\"577817\" 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=\"577817\">\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\/12\/06\/infrastructure-fest\/\">\r\n                            Infrastructure-fest                        <\/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\/12\/06\/infrastructure-fest\/\" 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\/12\/06\/infrastructure-fest\/')\">\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\/12\/06\/infrastructure-fest\/\">\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=Infrastructure-fest&url=https:\/\/enterpriseam.com\/egypt\/2022\/12\/06\/infrastructure-fest\/\">\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\/12\/06\/infrastructure-fest\/&title=Infrastructure-fest\">\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=Infrastructure-fest+https%3A%2F%2Fenterpriseam.com%2Fegypt%2F2022%2F12%2F06%2Finfrastructure-fest%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\/12\/06\/infrastructure-fest\/\">\r\n                    <div class=\"photo photo--above\">\r\n                        <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2022\/12\/95.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"577818\" data-permalink=\"https:\/\/enterpriseam.com\/egypt\/2022\/12\/06\/infrastructure-fest\/95-jpg-15\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2022\/12\/95.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"95.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2022\/12\/95.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2022\/12\/95.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-577817\" class=\"content-area-description single-story post-577817 post type-post status-publish format-standard has-post-thumbnail hentry category-last-nights-talk-shows tag-automotive tag-bmw tag-enterpriseam tag-infrastructure tag-last-nights-talk-shows wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<p><strong>Government infrastructure projects are awesome:<\/strong> That was the main message delivered by the talking heads last night, who couldn\u2019t stop talking about the state\u2019s development plans. The trigger was yesterday\u2019s inauguration of the Fouad Abu Zekry axis in Alexandria, but praise was also heaped on the revamp of the 19th century Al Montazah gardens in Alexandria (<a href=\"https:\/\/www.youtube.com\/watch?v=_ojVg1RjVJ8\">watch, runtime: 2:41<\/a>), the development of Alexandria train station (<a href=\"https:\/\/www.youtube.com\/watch?v=CtlfCYrKeRc\">watch, runtime: 2:11<\/a>), and a new social housing project in the city (<a href=\"https:\/\/www.youtube.com\/watch?v=NOPMoOzs53Y\">watch, runtime: 4:17<\/a>). The axis received coverage from all quarters, including Ala Mas\u2019ouleety (<a href=\"https:\/\/www.youtube.com\/watch?v=uryG0sSBZ1E\">watch, runtime: 9:40<\/a>), Masaa DMC (<a href=\"https:\/\/www.youtube.com\/watch?v=SaCCLKukTfM\">watch, runtime: 5:26<\/a>), Kelma Akhira (<a href=\"https:\/\/www.youtube.com\/watch?v=a8DEKW3Ayts\">watch, runtime: 1:53<\/a>), Al Hayah Al Youm (<a href=\"https:\/\/www.youtube.com\/watch?v=xcm6HMcCsYo\">watch, runtime: 1:47<\/a>) and others.<\/p>\n<p><strong>Traders won\u2019t be allowed to snap up BMWs:<\/strong> A decision by the <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/feba3115-5fdb-4cdf-bf31-aa0284dd48b0\">new BMW agent<\/a> Global Auto Group to have car seekers pre-order cars online to \u201cprevent speculation\u201d in the market got Kelma Akhira El Hadidi\u2019s attention (<a href=\"https:\/\/www.youtube.com\/watch?v=sdDiMYR1mok\">watch, runtime: 10:06<\/a>). The agent acknowledged that many of those standing in <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/ea0802b8-40f2-4eee-b2fc-e42fb3c4f3e4\">long queues<\/a>seen earlier this week were actually speculators looking to get their hands on most pre-order forms, adding that it would have the right to call off pre-booking requests if they determine that the vehicles being used are not for personal use. Automotive expert Mahmoud Khairy reiterated earlier statements on talk shows this week that most of the line standard were actually traders looking to resell the cars at higher prices.<\/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\/automotive\/\">automotive<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/bmw\/\">BMW<\/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\/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=\"577819\" class=\"issue-section \">\n<div class=\"issue-section__content\">\n<div class=\"stories\">      \r\n<section id=\"advertiser\" class=\"enterprise-adv issue-section\">\r\n    <div class=\"issue-section__content\" style=\"flex-direction: column;\">\r\n  \r\n                <h4 class=\"wp-block-heading has-text-align-center has-normal-font-size\">\r\n                <span class=\"has-primary-color stk-highlight\">This publication is proudly sponsored by<\/span><\/h4>\r\n                \r\n\r\n                \r\n                <div class=\"wp-block-stackable-carousel alignwide stk-block-carousel stk--is-slide stk--infinite-scroll 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draggable=\"false\" src=\"https:\/\/i0.wp.com\/ent.news\/internal\/27483.png?fit=300%2C300&#038;ssl=1\" alt=\"\">\r\n                    <\/a>\r\n                    <span>Powering with nature<\/span>\r\n                <\/div>\r\n            <\/div>\r\n            <\/div><\/div><\/div>\r\n        \r\n            <div class=\"wp-block-stackable-column stk-block-column stk-column stk-block stk-1hl2jui\" data-v=\"4\" data-block-id=\"1hl2jui\"><div class=\"stk-column-wrapper stk-block-column__content stk-container stk-1hl2jui-container stk--no-background stk--no-padding\"><div class=\"stk-block-content stk-inner-blocks stk-1hl2jui-inner-blocks\">\r\n            <div class=\"issue-sponsor-slide\">\r\n                <img data-recalc-dims=\"1\" decoding=\"async\" draggable=\"false\" src=\"https:\/\/i0.wp.com\/ent.news\/internal\/240926.jpg?ssl=1\">\r\n                <div class=\"overlay\"><\/div>\r\n                <div class=\"content\">\r\n                    <a draggable=\"false\" 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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=\"577820\">\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\/12\/06\/dior-pyramids-show-is-getting-international-attention\/\">\r\n                            Dior Pyramids show is getting international attention                        <\/a>\r\n                    <\/h3>\r\n\r\n                    \r\n\t\t\t\t\t\n<div class=\"cta\">\n    <div class=\"cta__btn share-dropdown-cta dropdown-toggle-btn\" style=\"position:relative\">\n        <img decoding=\"async\" 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<\/div>\r\n\r\n            \r\n            <div class=\"story__body\">\r\n\r\n                <a href=\"https:\/\/enterpriseam.com\/egypt\/2022\/12\/06\/dior-pyramids-show-is-getting-international-attention\/\">\r\n                    <div class=\"photo photo--above\">\r\n                        <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2022\/12\/96.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"577821\" data-permalink=\"https:\/\/enterpriseam.com\/egypt\/2022\/12\/06\/dior-pyramids-show-is-getting-international-attention\/96-jpg-13\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2022\/12\/96.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"96.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2022\/12\/96.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2022\/12\/96.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-577820\" class=\"content-area-description single-story post-577820 post type-post status-publish format-standard has-post-thumbnail hentry category-egypt-in-the-news tag-abdel-fattah-el-sisi tag-dior tag-diplomacy tag-enterpriseam tag-fashion tag-recep-tayyip-erdogan tag-turkey wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<p><strong>Dior\u2019s show at the Giza pyramids is continuing to lead coverage on Egypt internationally <\/strong><strong>this morning<\/strong>, with <a href=\"https:\/\/www.france24.com\/en\/live-news\/20221205-egypt-dusts-off-pyramids-for-fashion-pop-and-art-shows\">AFP<\/a>, the <a href=\"https:\/\/www.ft.com\/content\/1ce195b5-9ff8-4679-b03a-c8295ab5200a\">Financial Times<\/a>, and <a href=\"https:\/\/www.thenationalnews.com\/lifestyle\/fashion\/2022\/12\/04\/dior-puts-on-star-studded-celestial-show-at-egypts-pyramids-of-giza\/\">the National<\/a> all covering Kim Jones\u2019 spectacular event on Saturday.<\/p>\n<p><strong>MEANWHILE-<\/strong><\/p>\n<ul>\n<li><strong><a href=\"https:\/\/www.bloomberg.com\/opinion\/articles\/2022-12-05\/why-turkey-s-erdogan-and-egypt-s-sisi-are-making-nice#xj4y7vzkg\">Bloomberg\u2019s<\/a><\/strong><strong> Bobby Ghosh is out with an opinion piece on the potential for <\/strong><strong>Erdogan and El Sisi to mend ties<\/strong> following last month\u2019s <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/f19d96c3-4e7a-429d-a48c-1fdf11b4478a\">handshake<\/a> in Qatar.<\/li>\n<li><strong>An investigation has been launched into a video showing an Egyptian air force <\/strong><strong>officer <\/strong>and his brother attacking nurses at a hospital in Menoufia. (<a href=\"https:\/\/www.thenationalnews.com\/mena\/2022\/12\/04\/egyptian-air-force-officer-faces-investigation-after-attack-on-hospital-nurses\/\">The National<\/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\/abdel-fattah-el-sisi\/\">Abdel Fattah El Sisi<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/dior\/\">Dior<\/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\/fashion\/\">fashion<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/recep-tayyip-erdogan\/\">Recep Tayyip Erdogan<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/turkey\/\">Turkey<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                    <\/div>\n    <\/div>\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"577822\" class=\"issue-section \">\n<div class=\"issue-section__content\">\n<div class=\"stories\">    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"577823\" 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=\"577823\">\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\">Also on our Radar<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2022\/12\/06\/egx-will-be-biggest-shareholder-in-future-exchanges-benya-borrows-big\/\">\r\n                            EGX will be biggest shareholder in future exchanges + Benya borrows big                        <\/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\/12\/06\/egx-will-be-biggest-shareholder-in-future-exchanges-benya-borrows-big\/\" 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 bourse is in talks with several financial institutions over the next steps, he said, adding that it aims to finalize the exchange\u2019s ownership structure in 1Q 2023.<\/p>\n<p><strong>DEBT-<\/strong><\/p>\n<p><strong>Benya borrows big to fund infrastructure projects:<\/strong> CIB and Banque Misr have agreed to lend EGP 6.35 bn to IT infrastructure contractor Benya Group, the state-owned bank said in <a href=\"https:\/\/ent.news\/2022\/12\/CIB-Bank-MISR-Benia-Group-AR-PRL.pdf\">a statement (pdf)<\/a> yesterday. The financing, split 50-50 between the two banks, will be used to fund the company\u2019s telecoms infrastructure projects.<\/p>\n<p><strong>\u064fEGOTH borrows EGP 393 mn from NBE for Winter Palace revamp:<\/strong> The National Bank of Egypt (NBE) is lending the Egyptian General Company for Tourism and Hotels (EGOTH) EGP 393 mn to renovate the Sofitel Winter Palace hotel in Luxor, it said in <a href=\"https:\/\/ent.news\/2022\/12\/NBE-Sofitel.pdf\">a statement (pdf)<\/a>.<\/p>\n<p><strong>ENERGY-<\/strong><\/p>\n<p><strong>A new player in the power sector:<\/strong> Emaar Misr for Development has received regulatory approval to sell and distribute electricity, the Financial Regulatory Authority <a href=\"https:\/\/ent.news\/2022\/12\/EMAAR-MAST-AR-PRL.pdf\">said (pdf)<\/a> yesterday.<\/p>\n\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/also-on-our-radar\/\">ALSO ON OUR RADAR<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/banking\/\">banking<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/banque-misr\/\">Banque Misr<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/capital-markets\/\">capital markets<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/cib\/\">CIB<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/debt-watch\/\">debt watch<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/egx\/\">EGX<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                    <\/div>\n    <\/div>\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"577827\" 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=\"577827\">\r\n            \r\n                <div class=\"issue-story-header text-center\">\r\n                    <div class=\"index-number\">11<\/div>\r\n\r\n                    <p class=\"f-graphik\">AROUND THE WORLD<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2022\/12\/06\/day-one-of-the-russia-oil-price-cap\/\">\r\n                            Day one of the Russia oil price cap                        <\/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\/12\/06\/day-one-of-the-russia-oil-price-cap\/\" 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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Nineteen ships are now waiting to transit through the Turkish straits in a potential sign of the disruption to come as the world responds to what the <a href=\"https:\/\/www.ft.com\/content\/66e8faee-9cfa-4017-b0fd-6f884a672e76\">FT editorial board<\/a> calls \u201cone of the most forceful interventions in the global oil market ever.\u201d<\/p>\n<p><strong>FYI-<\/strong> Under the sanctions, oil tankers are prevented from buying Western maritime ins. if the oil is sold above the USD 60 price cap.<\/p>\n<p><strong>Meanwhile, on the other side of the world:<\/strong> Russia was selling its ESPO blend from the port of Kozmino on the Sea of Japan for USD 79 a barrel, significantly above the USD 60 cap, <a href=\"https:\/\/www.reuters.com\/business\/energy\/russian-oil-selling-79barrel-asia-monday-well-above-price-cap-2022-12-05\/\">Reuters<\/a> reported yesterday.<\/p>\n<hr class=\"grey-line\">\n<p><strong>Breakthrough in Sudan?<\/strong> Sudan\u2019s ruling military leaders have signed an agreement with the country\u2019s main pro-democracy group that lays the foundations for a return to a civilian-led administration following last year\u2019s military coup, according to <a href=\"https:\/\/apnews.com\/article\/middle-east-africa-sudan-khartoum-651a0be9bf731d32df41d493a191418e\">the Associated Press<\/a>. Under the framework agreement \u2014 signed by General Abdel Fattah Burhan, General Mohammed Hamdan Dagalo and the leaders of the Forces for the Declaration of Freedom and Change \u2014 the military vowed to eventually reduce its involvement in politics and allow for the creation of a new transitional government.<\/p>\n<p><strong>Yes, but:<\/strong> The agreement doesn\u2019t commit the military to a timetable or specify how it would share power with civilian leaders ahead of national elections. Other anti-military protest groups and rebel leaders rejected the pact.<\/p>\n<p><strong>Egypt has voiced support for the agreement:<\/strong> The Foreign Ministry <a href=\"https:\/\/www.facebook.com\/EgyptianCabinet\/posts\/pfbid02WAHeYe8egsbspHTg1jQPE2NPFbFNSPpUSSYQTMKC8e6s8ob6qCSJcipkLaT1rMNsl\">called it<\/a> an \u201cimportant and pivotal step\u201d for addressing the political crisis in the country.<\/p>\n<hr class=\"grey-line\">\n<p><strong>China to keep easing covid curbs: <\/strong>China is set to relax more of its strict covid-19 measures as early as tomorrow, as investors react positively to the recent easing of some restrictions, two sources familiar with the matter told <a href=\"https:\/\/www.reuters.com\/world\/china\/china-may-announce-10-new-covid-measures-wednesday-sources-2022-12-05\/\">Re<\/a><a href=\"https:\/\/www.reuters.com\/world\/china\/china-may-announce-10-new-covid-measures-wednesday-sources-2022-12-05\/\">uters<\/a>. The CNY <a href=\"https:\/\/www.ft.com\/content\/e332c5a7-4cda-4773-8782-89faccadc35f\">rose to it<\/a><a href=\"https:\/\/www.ft.com\/content\/e332c5a7-4cda-4773-8782-89faccadc35f\">s highest<\/a><a href=\"https:\/\/www.ft.com\/content\/e332c5a7-4cda-4773-8782-89faccadc35f\">level<\/a> against the greenback since mid-September and Chinese stocks rose on investor hopes that easing restrictions will boost global economic growth and increase demand for commodities. Apple was also given a boost yesterday after its main supplier Foxconn <a href=\"https:\/\/www.reuters.com\/world\/china\/foxconn-expects-full-production-covid-hit-china-plant-late-december-early-2022-12-05\/\">said<\/a> that its covid-hit \u201ciPhone City\u201d in Zhengzhou could be back running at full capacity later this month.<\/p>\n<p><strong>Iran is trying to appease protesters:<\/strong> Iran\u2019s attorney-general has said that the country\u2019s morality police are being disbanded in an apparent olive branch to anti-government protests that have raged since September following the death of a woman in police custody. The religious police are responsible for enforcing the country\u2019s strict Islamic dress code and have been blamed for the death of Mahsa Amini, who was arrested for allegedly failing to cover her head. The official\u2019s statements have not been officially confirmed by the government.<\/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\/around-the-world\/\">Around the World<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/china\/\">China<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/covid-19\/\">covid-19<\/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\/iran\/\">Iran<\/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                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/politics\/\">politics<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/russia\/\">Russia<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/sudan\/\">Sudan<\/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=\"577831\" 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\/12\/06\/577831\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-577831\" class=\"content-area-description single-story post-577831 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><strong>DECEMBER<\/strong><\/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>19-20 December (Monday-Tuesday): The Arab Administrative Development Organization\u2019s<a href=\"https:\/\/www.arado.org\/Activity\/Details?Id=537954\">conference on Modern Methods in Hospital Management<\/a>, Cairo.<\/p>\n<p>20 December (Tuesday): EGX-listed Pachin will <a href=\"https:\/\/ent.news\/2022\/11\/Pachin-general-assembly.pdf\">brief shareholders<\/a> on offers received to acquire the company in an ordinary general assembly.<\/p>\n<p>22 December (Thursday): Central Bank of Egypt\u2019s Monetary Policy Committee meeting.<\/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): President El Sisi will visit India as <a href=\"https:\/\/www.mea.gov.in\/press-releases.htm?dtl\/35927\/Chief_Guest_at_Indias_Republic_Day_Celebrations_2023\">\u201cchief guest\u201d at celebrations<\/a>to mark the 74th anniversary of Indian independence.<\/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":577800,"menu_order":0,"template":"","categories":[],"tags":[],"class_list":["post-577799","issue","type-issue","status-publish","has-post-thumbnail","hentry","wpautop","entry"],"acf":{"mongo_id":"279279fb-9e90-4ab8-998f-92b2bd6f8952","teaser":"","photo_url":"https:\/\/ent.news\/2022\/12\/86.jpg"},"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v27.1 (Yoast SEO v27.1.1) - 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