{"id":578261,"date":"2022-12-21T04:04:30","date_gmt":"2022-12-21T04:04:30","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/?post_type=issue&#038;p=578261"},"modified":"2025-12-16T11:35:38","modified_gmt":"2025-12-16T11:35:38","slug":"the-imf-is-watching-what-happens-in-january","status":"publish","type":"issue","link":"https:\/\/enterpriseam.com\/egypt\/issues\/the-imf-is-watching-what-happens-in-january\/","title":{"rendered":"The IMF is watching what happens in January"},"content":{"rendered":"<section id=\"578263\" 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=\"578263\">\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\/21\/this-morning-another-year-with-no-state-funded-hajj-trips-sbf-extradition-today\/\">\r\n                            THIS MORNING: Another year with no state-funded Hajj trips + SBF extradition 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\/21\/this-morning-another-year-with-no-state-funded-hajj-trips-sbf-extradition-today\/\" target=\"_blank\">\n                    Open in new tab                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/new-tab.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a href=\"#\" target=\"_blank\" onclick=\"event.preventDefault(); 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Here in Egypt we have a crucial central bank policy meeting tomorrow and \u2014 as the IMF\u2019s Egypt mission chief reminds us \u2014 the probable unwinding of the dreaded L\/C requirement by next week (more on that in the news well, below). Meanwhile abroad, the Bank of Japan just breathed new life into the 2022 rollercoaster ride that is the global financial markets \u2014 check out this morning\u2019s Planet Finance for more on that.<\/p>\n<hr class=\"grey-line\" \/>\n<p><strong>THIS WEEK-<\/strong><\/p>\n<p><strong>It\u2019s the Central Bank of Egypt\u2019s final policy meeting of the year on Thursday:<\/strong> Most analysts in a <a href=\"https:\/\/www.reuters.com\/markets\/rates-bonds\/egypts-central-bank-seen-raising-interest-rates-by-200-bps-2022-12-20\/\">Reuters poll<\/a> are expecting policymakers to close out 2022 with another king-size 200-bps rate hike to support the currency and tackle rising inflation \u2014 chiming with the majority of <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/f634c395-5dfb-40bf-a4fe-388c6fe8a1b5\">those we surveyed<\/a> last week. Seven of the nine analysts and economists we spoke to are forecasting the central bank to raise rates, five of which see a 200-bps hike. This would take the policy rate to 15.25%, its highest level since early 2019.<\/p>\n<p><strong>PSA #1- MPs are now on a two-week break:<\/strong> The House of Representatives will be back in session on 2 January.<\/p>\n<p><strong>PSA #2- Another year with no state-funded Hajj trips: <\/strong>The Awqaf Ministry is once again <a href=\"https:\/\/ar.awkafonline.com\/?p=92669\">suspending<\/a> state-funded Hajj pilgrimages, making this the third consecutive year that the government has canceled its annual free Hajj trips. The action was <a href=\"https:\/\/english.ahram.org.eg\/News\/365823.aspx\">first taken in<\/a><a href=\"https:\/\/english.ahram.org.eg\/News\/365823.aspx\">2020<\/a> when the ministry decided to redirect those funds to support those affected by the pandemic.<\/p>\n<p class=\"web-image\"><img data-recalc-dims=\"1\" decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2022\/12\/Trump-tax-returns-1600px.jpg?ssl=1\" alt=\"enterprise\" \/><\/p>\n<p><strong>THERE ARE THREE BIG STORIES ABROAD THIS MORNING-<\/strong><\/p>\n<p><strong>#1- Trump\u2019s tax returns are finally going public<\/strong> after a House committee yesterday voted to release them. (<a href=\"https:\/\/apnews.com\/article\/business-donald-trump-richard-neal-c697c4e300948a9e2638d0d9fbbe2f96?utm_source=homepage&utm_medium=TopNews&utm_campaign=position_02\">AP<\/a> | <a href=\"https:\/\/www.reuters.com\/article\/usa-trump-taxes-congress\/u-s-house-committee-to-release-redacted-trump-tax-filings-idUSKBN2T40O6\">Reuters<\/a> | <a href=\"https:\/\/www.wsj.com\/livecoverage\/donald-trump-tax-returns-release-house-committee\">WSJ<\/a> | <a href=\"https:\/\/www.washingtonpost.com\/politics\/2022\/12\/20\/trump-tax-returns-house-democrats\/\">Washington Post<\/a> | <a href=\"https:\/\/www.nytimes.com\/live\/2022\/12\/20\/us\/trump-taxes-news\">NYT<\/a>)<\/p>\n<p><strong>#2- Sam Bankman-Fried will be extradited to the US from the Bahamas today<\/strong> to face a range of criminal charges related to the collapse of crypto exchange FTX. (<a href=\"https:\/\/www.bloomberg.com\/news\/articles\/2022-12-21\/bankman-fried-to-fly-to-us-on-wednesday-escorted-by-fbi-agents?srnd=premium-middle-east&sref=mmeFTDW1\">Bloomberg<\/a> | <a href=\"https:\/\/www.cnbc.com\/2022\/12\/20\/indicted-ftx-founder-sam-bankman-fried-to-return-to-us-after-hearing.html\">CNBC<\/a>)<\/p>\n<p><strong>#3- Elon Musk will abide by the results of this week\u2019s poll<\/strong> and will appoint a new CEO to take charge at Twitter as soon as one is found. (<a href=\"https:\/\/apnews.com\/article\/elon-musk-spacex-twitter-inc-technology-business-c99e4be605cd867d44879768059b5e7a?utm_source=homepage&utm_medium=TopNews&utm_campaign=position_04\">AP<\/a> | <a href=\"https:\/\/www.reuters.com\/technology\/musk-says-hell-step-down-twitter-ceo-after-finding-replacement-2022-12-21\/\">Reuters<\/a> | <a href=\"https:\/\/www.bloomberg.com\/news\/articles\/2022-12-21\/musk-to-run-twitter-software-servers-teams-after-new-ceo-found?srnd=premium&sref=mmeFTDW1\">Bloomberg<\/a>)<\/p>\n<div class=\"row\">\n<div class=\"col-md-12 subscribe-box-panel\">\n<div class=\"\">\n<div class=\"title\">\n<h4 class=\"fw-lighter mb-10\">\n          Get <b style=\"font-weight: 700\">Enterprise<\/b> daily<br \/>\n        <\/h4>\n<\/p><\/div>\n<p class=\"mb-10\">The roundup of news and trends that move your markets and shape corporate agendas delivered straight to your inbox.<\/p>\n<p>      <a href=\"egypt\/en\/user\/NewsLetters\" type=\"button \" class=\"btn-green px-3 d-flex align-items-center\">Subscribe here<\/a>\n    <\/div>\n<\/p><\/div>\n<\/div>\n<p><a id=\"tldr-story-06\" class=\"content-anchor\"><\/a> <strong>SIGN OF THE TIMES- Tech startups are scrambling amid funding drought: <\/strong>Silicon Valley tech startups are working overtime to keep themselves afloat and are turning to alternative sources of finance following a steep decline in VC funding, the <a href=\"https:\/\/www.ft.com\/content\/d12a4baa-53c6-4256-b125-d25622f9555f\">Financial Times<\/a> reports. Companies are looking at bridge loans and structured equity in efforts to avoid being forced to cut their valuations in <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/ea5eb9c7-6b0c-428f-a102-78b147e5f7c9\">down<\/a><a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/ea5eb9c7-6b0c-428f-a102-78b147e5f7c9\">rounds<\/a>.<\/p>\n<p class=\"web-image\"><img data-recalc-dims=\"1\" decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2020\/1\/Web-view-01.jpg?ssl=1\" alt=\"enterprise\" \/><\/p>\n<p><strong>*** It\u2019s Hardhat day \u2014 your weekly briefing of all things infrastructure in Egypt:<\/strong> Enterprise\u2019s industry vertical focuses each Wednesday on infrastructure, covering everything from energy, water, transportation, and urban development, as well as social infrastructure such as health and education.<\/p>\n<p><strong>In today\u2019s issue: <\/strong>2022: A year of headwinds for infrastructure players.<\/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\/central-bank-of-egypt\/\">Central Bank of Egypt<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/cryptocurrency\/\">cryptocurrency<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/donald-trump\/\">Donald Trump<\/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\/elon-musk\/\">Elon Musk<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/ftx\/\">FTX<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/hajj\/\">hajj<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/interest-rates\/\">interest rates<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/social-media\/\">social media<\/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                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/twitter\/\">Twitter<\/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=\"578265\" 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=\"578265\">\r\n            \r\n            <div class=\"story__body\">\r\n\r\n                <a href=\"https:\/\/enterpriseam.com\/egypt\/2022\/12\/21\/578265\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-578265\" class=\"content-area-description single-story post-578265 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\/12\/Simply-Somabay-2-1600px.jpg?ssl=1\" alt=\"enterprise\"><\/a><\/p>\n<p>Somabay brings out the best in majestic natural elements where raw beauty and endless activities reign supreme. Immerse yourself into a picturesque getaway all year long. This is simply Somabay. For more information, call 16390 or visit <a href=\"http:\/\/www.somabay.com\">www.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=\"578266\" 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=\"578266\">\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\/21\/the-imf-is-watching-what-happens-to-the-egp-in-january\/\">\r\n                            The IMF is watching what happens to the EGP in January                        <\/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\/21\/the-imf-is-watching-what-happens-to-the-egp-in-january\/\" 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\/21\/the-imf-is-watching-what-happens-to-the-egp-in-january\/')\">\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\/21\/the-imf-is-watching-what-happens-to-the-egp-in-january\/\">\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 IMF is watching what happens to the EGP in January&url=https:\/\/enterpriseam.com\/egypt\/2022\/12\/21\/the-imf-is-watching-what-happens-to-the-egp-in-january\/\">\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\/21\/the-imf-is-watching-what-happens-to-the-egp-in-january\/&title=The IMF is watching what happens to the EGP in January\">\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+IMF+is+watching+what+happens+to+the+EGP+in+January+https%3A%2F%2Fenterpriseam.com%2Fegypt%2F2022%2F12%2F21%2Fthe-imf-is-watching-what-happens-to-the-egp-in-january%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\/21\/the-imf-is-watching-what-happens-to-the-egp-in-january\/\">\r\n                    <div class=\"photo photo--above\">\r\n                        <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2022\/12\/446.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"578267\" data-permalink=\"https:\/\/enterpriseam.com\/egypt\/2022\/12\/21\/the-imf-is-watching-what-happens-to-the-egp-in-january\/446-jpg-17\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2022\/12\/446.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"446.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2022\/12\/446.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2022\/12\/446.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-578266\" class=\"content-area-description single-story post-578266 post type-post status-publish format-standard has-post-thumbnail hentry category-economy tag-central-bank-of-egypt tag-economy tag-egp tag-enterpriseam tag-imf tag-state-privatization-program wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<p><a class=\"content-anchor\" id=\"tldr-story-01\"><\/a> <strong>The IMF will be keeping a beady eye on what happens to the exchange rate when the <\/strong><strong>central bank ends import restrictions at the end of the month. <\/strong>Egypt has committed to permanently switching to a floating exchange rate in return for a <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/c374319e-e849-44f6-bf5a-8179fb41caf5\">USD 3 bn loan<\/a> from the IMF, but is yet to cancel its requirement to use letters of credit to finance imports. \u201cWe know that the central bank has not intervened to inject reserves into the foreign exchange market since we reached staff level agreement. But we also know that the backlog of imports has not been cleared,\u201d Ivanna Vladkova Hollar, the IMF mission chief for Egypt, told <a href=\"https:\/\/www.reuters.com\/markets\/currencies\/imf-looks-egyptian-currency-flexibility-after-end-december-official-says-2022-12-19\/\">Reuters<\/a> this week.<\/p>\n<p><strong>Import restrictions?<\/strong> Since March the central bank has required businesses to use letters of credit to finance most imports, a move designed to stem outflows of foreign currency amid a shortage triggered by the war in Ukraine. The decision has caused widespread economic disruption as imports have slowed to a crawl but has helped to support the EGP which has fallen sharply due to two devaluations this year.<\/p>\n<p><strong>Mandatory L\/Cs should be a thing of the past by the end of the month: <\/strong>Egypt <a href=\"https:\/\/enterprise.press\/afternoons\/pm-taweem-3-0-sees-egp-at-23-03-against-the-greenback\/\">agreed to fully phase out mandatory L\/Cs<\/a> by the end of the year under the agreement made with the IMF in October, which committed them to adopting a \u201cdurably flexible exchange rate.\u201d In its statement last week, the Fund\u2019s executive board changed its language, and now specifies that Egypt must \u201cpermanently\u201d shift to a floating rate.<\/p>\n<p><strong>What happens next is key:<\/strong> Following the lifting of the restrictions, the IMF will be looking for \u201cdaily volatility in the exchange rate that is similar to the volatility observed in truly floating exchange rate regimes\u201d, Vladkova Hollar said. \u201cWe will be looking very closely at how the FX market is functioning, which would then give us the ability to have a conversation with the authorities and our board as to [whether] what we are seeing is really consistent with a flexible exchange rate regime.\u201d<\/p>\n<p><strong>A smaller first tranche than expected:<\/strong> The IMF agreed to disburse USD 347 mn immediately after the executive board signed off on the loan, less than half of the <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/76937c25-3c19-442b-995a-5cf50812c220\">USD 750 mn<\/a> the Finance Ministry was expecting in the first tranche.<\/p>\n<p><strong>The <\/strong><strong><a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/a7263582-f660-4f87-b0b9-4d8f7a113480\">state ownership policy<\/a><\/strong><strong> will be key:<\/strong> The long-awaited document, which will lay out which areas of the economy the state will divest from, will be the \u201cfirst critical document that we need jointly to be able to develop a more concrete action plan,\u201d Vladkova Hollar said.<\/p>\n<p><strong>Privatization and leveling the playing field for private companies are key conditions of the new loan:<\/strong> Egypt has committed to undertaking \u201cwide-ranging\u201d structural reforms to reduce state involvement in the economy and increase transparency. These <a href=\"https:\/\/www.imf.org\/en\/Countries\/EGY\/Egypt-qandas\">include<\/a> opening the books of state-owned enterprises, publishing audit reports done by the Central Auditing Organization, and making public information relating to government contracts worth more than EGP 20 mn.<\/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\/central-bank-of-egypt\/\">Central Bank of Egypt<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/economy\/\">economy<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/egp\/\">EGP<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/imf\/\">IMF<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/state-privatization-program\/\">state privatization program<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                    <\/div>\n    <\/div>\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"578268\" 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=\"578268\">\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\">LEGISLATION WATCH<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2022\/12\/21\/suez-canal-fund-not-privatization-via-the-back-door-govt-says-amid-controversy\/\">\r\n                            Suez Canal fund not privatization via the back door, gov\u2019t says amid controversy                        <\/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\/21\/suez-canal-fund-not-privatization-via-the-back-door-govt-says-amid-controversy\/\" 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\/21\/suez-canal-fund-not-privatization-via-the-back-door-govt-says-amid-controversy\/')\">\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\/21\/suez-canal-fund-not-privatization-via-the-back-door-govt-says-amid-controversy\/\">\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=Suez Canal fund not privatization via the back door, gov\u2019t says amid controversy&url=https:\/\/enterpriseam.com\/egypt\/2022\/12\/21\/suez-canal-fund-not-privatization-via-the-back-door-govt-says-amid-controversy\/\">\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\/21\/suez-canal-fund-not-privatization-via-the-back-door-govt-says-amid-controversy\/&title=Suez Canal fund not privatization via the back door, gov\u2019t says amid controversy\">\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=Suez+Canal+fund+not+privatization+via+the+back+door%2C+gov%E2%80%99t+says+amid+controversy+https%3A%2F%2Fenterpriseam.com%2Fegypt%2F2022%2F12%2F21%2Fsuez-canal-fund-not-privatization-via-the-back-door-govt-says-amid-controversy%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\/21\/suez-canal-fund-not-privatization-via-the-back-door-govt-says-amid-controversy\/\">\r\n                    <div class=\"photo photo--above\">\r\n                        <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2022\/12\/448.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"578269\" data-permalink=\"https:\/\/enterpriseam.com\/egypt\/2022\/12\/21\/suez-canal-fund-not-privatization-via-the-back-door-govt-says-amid-controversy\/448-jpg-13\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2022\/12\/448.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"448.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2022\/12\/448.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2022\/12\/448.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-578268\" class=\"content-area-description single-story post-578268 post type-post status-publish format-standard has-post-thumbnail hentry category-legislation-watch tag-enterpriseam tag-hanafi-el-gibaly tag-house-of-representatives tag-legislation-watch tag-suez-canal 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>The government is moving to stem controversy over the new Suez Canal fund:<\/strong> The Madbouly government yesterday <a href=\"https:\/\/www.facebook.com\/EgyptianCabinet\/posts\/pfbid0QTPcpUyhwxNdsLGaqZ4v496buS58tK6iv8JmFj4Za7f46uhejM6DsYSxq3xKKG8al\">denied<\/a> claims that a proposal to set up a fund for the Suez Canal Authority will enable it to privatize assets by the back door.<\/p>\n<p><strong>ICYMI-<\/strong> MPs this week <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/14232de6-f528-47d8-a5ff-e3b32b637c43\">gave initial approval<\/a> to legal amendments that would allow the SCA to \u201cbuy, sell, lease, exploit and benefit from fixed and movable assets\u201d owned by the authority in order to capitalize a new EGP 10 bn fund. It would also allow it to use its own financial resources and revenues. It\u2019s not clear whether this includes canal revenues, a key source of FX income for the public purse.<\/p>\n<p><strong>Cue controversy:<\/strong> A large number of MPs voted against the law on Monday, voicing concerns that it will pave the way for the SCA to sell assets without parliamentary oversight. \u201cEstablishing a fund in the Suez Canal is tantamount to emptying Egypt of its funds, and turning public money into private money,\u201d <a href=\"https:\/\/bit.ly\/3G6qJq0\">said<\/a> Mohamed Abdel Alim Daoud, a Wafd Party MP. It also triggered a storm on social media, with speculation about whether the amendments would allow the SCA to sell the canal trending all day.<\/p>\n<p><strong>The cabinet moved to calm fears over transparency<\/strong>, saying yesterday that the fund\u2019s accounts will be supervised by the Central Auditing Organization and that the SCA would not sell off its assets by the back door. It did not acknowledge complaints about the lack of parliamentary supervision.<\/p>\n<p><strong>The canal is not for sale, says House Speaker:<\/strong> The fund will only be able to sell fixed and moveable assets, not the canal itself, House Speaker Hanafi Gebali <a href=\"https:\/\/ent.news\/2022\/12\/Suez-Canal-Fund-Hanafi-El-Gebaly.pdf\">said (pdf)<\/a> during yesterday\u2019s session, suggesting that selling the canal would be unconstitutional. \u201cThe fund will do what all funds do in terms of buying, selling, and leasing assets, but it says nothing at all that it will sell Suez Canal.\u201d<\/p>\n\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/hanafi-el-gibaly\/\">Hanafi El Gibaly<\/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\/suez-canal\/\">Suez Canal<\/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=\"578270\" 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=\"578270\">\r\n            \r\n                <div class=\"issue-story-header text-center\">\r\n                    <div class=\"index-number\">4<\/div>\r\n\r\n                    <p class=\"f-graphik\">Energy<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2022\/12\/21\/we-could-be-getting-usd-4-bn-from-chinese-and-japanese-investors-for-renewables-projects\/\">\r\n                            We could be getting USD 4 bn from Chinese and Japanese investors for renewables projects                        <\/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\/21\/we-could-be-getting-usd-4-bn-from-chinese-and-japanese-investors-for-renewables-projects\/\" 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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It\u2019s not clear whether the firms would invest in plants already in the pipeline, or look to build fresh projects.<\/p>\n<p><strong>The companies are also in talks with five Egyptian contractors and electricity firms <\/strong>who could partner with them to build the projects, the sources are quoted as saying. The talks should advance in 1H 2023, the sources said.<\/p>\n<p><strong>How will they get the funds? <\/strong>The companies have reached initial agreements with lenders in both China and Japan to finance the projects, the sources said, adding that they will negotiate the financing details once they get the final project approvals from the Electricity Ministry<\/p>\n<p><strong>REMEMBER- <\/strong>Egypt <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/7267be18-acb5-4b9f-874a-e36102c2cad5\">signed<\/a> initial agreements for some 29.5 GW worth of wind power projects worth up to USD 34 bn during COP27, equivalent to nearly half of the country\u2019s total installed power generation capacity. We have also set an ambitious target of sourcing <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/46eb0c0b-2e62-47e0-8423-05c5359f3275\">42% of our energy<\/a> from renewables by 2030.<\/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\/china\/\">China<\/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\/investment-watch\/\">investment watch<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/japan\/\">Japan<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/renewables\/\">renewables<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                    <\/div>\n    <\/div>\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"578272\" 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=\"578272\">\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\">Infrastructure<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2022\/12\/21\/abu-dhabi-ports-mwani-in-talks-with-govt-to-run-ain-sokhna-safaga-ports-el-wazir-confirms\/\">\r\n                            Abu Dhabi Ports + Mwani in talks with gov\u2019t to run Ain Sokhna, Safaga ports, El Wazir confirms                        <\/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\/21\/abu-dhabi-ports-mwani-in-talks-with-govt-to-run-ain-sokhna-safaga-ports-el-wazir-confirms\/\" 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 Gulf logistics companies are interested in acquiring contracts to run the Ain Sokhna and Safaga ports, he said.<\/p>\n<p><strong>Gulf companies could soon be in charge of many of Egypt\u2019s Red Sea terminals:<\/strong> ADP has already been hired to build and run a terminal at the <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/5e296366-a7ef-480b-9002-958773f10d74\">port of Sokhna<\/a> and is bidding to build <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/8f9b5225-7806-4fa4-bdf2-ea3b7dbbd903\">a new terminal at Safaga port<\/a>, while local media has reported that the <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/b25dff95-58b6-4c52-ad41-2a0d694c3251\">Qatar Investment Authority (QIA)<\/a> is in talks with the Madbouly government to develop and manage the port of Safaga under a 25-year contract. DP World has been strengthening its position at Ain Sokhna port, completing a <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/2109d126-3d56-4e83-887b-c962bd51b6a7\">major expansion<\/a> at the port late last year and recently signing an agreement to build a new logistics zone.<\/p>\n<p><strong>MEANWHILE- An Egyptian-Dutch JV will build and manage a grain logistics hub at <\/strong><strong>Alexandria <\/strong><strong>port, <\/strong>under an MoU signed yesterday between the two companies and Alexandria Port Authority, the Transport Ministry <a href=\"https:\/\/m.facebook.com\/story.php?story_fbid=pfbid02rwsCbMofuk8RxVTwfevcqGZ5NtAPZ5CxLpRqMcbcTQ94xpR5R6inxLicK4h7dAjZl&id=100068611971858&mibextid=Nif5oz\">said<\/a>. Egyptian-Dutch Shipping Company (EDSCO) is a joint venture between a Dutch firm named Vitra and Egypt\u2019s El Fateh, according to the statement. We weren\u2019t able to find an online presence for either firm or their joint venture.<\/p>\n<p><strong>Our ports are not up for sale: <\/strong>Amid a backlash from some opposition MPs over government privatization plans, Transport Minister Kamel El Wazir reiterated that the government is not selling ports, but is rather entering partnerships with both local and foreign private-sector players to manage and operate them.<\/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\/abu-dhabi-ports\/\">Abu Dhabi Ports<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/edesco\/\">EDESCO<\/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\/kamel-el-wazir\/\">Kamel El Wazir<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/mwani\/\">Mwani<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/transport-ministry\/\">Transport 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=\"578274\" 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=\"578274\">\r\n            \r\n            <div class=\"story__body\">\r\n\r\n                <a href=\"https:\/\/enterpriseam.com\/egypt\/2022\/12\/21\/578274\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-578274\" class=\"content-area-description single-story post-578274 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.youtube.com\/watch?v=Tw7QiXSzD7Y\"><img data-recalc-dims=\"1\" decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2022\/12\/Otrivin-second-insertion-web-specs.png?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=\"578275\" 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=\"578275\">\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\">Startup watch<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2022\/12\/21\/local-healthtech-startup-checkme-acquires-doctor-online\/\">\r\n                            Local healthtech startup CheckMe acquires Doctor Online                        <\/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\/21\/local-healthtech-startup-checkme-acquires-doctor-online\/\" 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\/21\/local-healthtech-startup-checkme-acquires-doctor-online\/')\">\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\/21\/local-healthtech-startup-checkme-acquires-doctor-online\/\">\n                    Facebook                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/facebook-icon2.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a target=\"_blank\" href=\"https:\/\/x.com\/intent\/post?text=Local healthtech startup CheckMe acquires Doctor Online&url=https:\/\/enterpriseam.com\/egypt\/2022\/12\/21\/local-healthtech-startup-checkme-acquires-doctor-online\/\">\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\/21\/local-healthtech-startup-checkme-acquires-doctor-online\/&title=Local healthtech startup CheckMe acquires Doctor Online\">\n                    LinkedIn                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/linkedin-icon.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a href=\"https:\/\/api.whatsapp.com\/send?text=Local+healthtech+startup+CheckMe+acquires+Doctor+Online+https%3A%2F%2Fenterpriseam.com%2Fegypt%2F2022%2F12%2F21%2Flocal-healthtech-startup-checkme-acquires-doctor-online%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\/21\/local-healthtech-startup-checkme-acquires-doctor-online\/\">\r\n                    <div class=\"photo photo--above\">\r\n                        <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2022\/12\/452.jpeg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"578276\" data-permalink=\"https:\/\/enterpriseam.com\/egypt\/2022\/12\/21\/local-healthtech-startup-checkme-acquires-doctor-online\/452-jpeg\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2022\/12\/452.jpeg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"452.jpeg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2022\/12\/452.jpeg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2022\/12\/452.jpeg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-578275\" class=\"content-area-description single-story post-578275 post type-post status-publish format-standard has-post-thumbnail hentry category-startup-watch tag-checkme tag-doctor-online tag-enterpriseam tag-healthcare tag-ma-watch tag-startup-watch wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<p><a class=\"content-anchor\" id=\"tldr-story-05\"><\/a> <strong>Healthtech startup <\/strong><strong><a href=\"https:\/\/checkmehealth.com\/\">CheckMe<\/a><\/strong><strong> has acquired a majority stake in virtual clinic app <\/strong><strong><a href=\"https:\/\/doctoronline-app.com\/\">Doctor Online<\/a><\/strong> in a transaction that gives CheckMe a total market value of USD 20 mn, <a href=\"https:\/\/ent.news\/2022\/12\/CheckME-DoctorOnline-PR-ENG-1.pdf\">a statement (pdf)<\/a>. The acquisition will help CheckMe tap into more verticals to create the next \u201chealthtech superapp\u201d in Egypt and across the region, Ahella El Saban, co-founder of sell-side advisor Exits, told Enterprise. El Saban declined to disclose the size of the stake or the value of the transaction.<\/p>\n<p><strong>About the startups: <\/strong>Founded in 2020 by Adham Youssef (<a href=\"https:\/\/www.linkedin.com\/in\/adham-youssef-15b45329\/\">LinkedIn<\/a>) and its CEO Nesma El Talawy (<a href=\"https:\/\/www.linkedin.com\/in\/nesma-el-talawy-ba289048\/\">LinkedIn<\/a>), <a href=\"https:\/\/checkmehealth.com\/\">CheckMe\u2019s<\/a> app provides on-demand lab services. <a href=\"https:\/\/doctoronline-app.com\/\">Doctor Online<\/a>, founded by CEO Mahmoud Abdelhakim (<a href=\"https:\/\/www.linkedin.com\/in\/mahmoud-abdelhakim-a68165204\/\">LinkedIn<\/a>), is a virtual clinic mobile app offering various online medical services.<\/p>\n<p><strong>The acquisition will allow CheckMe to expand to comprehensively cover patients\u2019 needs<\/strong>, and to tap Doctor Online\u2019s database of both users and clinicians, El Saban said.<\/p>\n\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/checkme\/\">CheckMe<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/doctor-online\/\">Doctor Online<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/healthcare\/\">healthcare<\/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\/startup-watch\/\">Startup watch<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                    <\/div>\n    <\/div>\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"578277\" 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=\"578277\">\r\n            \r\n            <div class=\"story__body\">\r\n\r\n                <a href=\"https:\/\/enterpriseam.com\/egypt\/2022\/12\/21\/578277\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-578277\" class=\"content-area-description single-story post-578277 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\/4-SODIC-Saxophone-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=\"578278\" 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=\"578278\">\r\n            \r\n                <div class=\"issue-story-header text-center\">\r\n                    <div class=\"index-number\">7<\/div>\r\n\r\n                    <p class=\"f-graphik\">LAST NIGHT\u2019S TALK SHOWS<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2022\/12\/21\/suez-canal-controversy-was-everywhere-on-the-talk-shows\/\">\r\n                            Suez Canal controversy was everywhere on the talk shows                        <\/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\/21\/suez-canal-controversy-was-everywhere-on-the-talk-shows\/\" target=\"_blank\">\n                    Open in new tab                    <!-- <img decoding=\"async\" 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data-attachment-id=\"578279\" data-permalink=\"https:\/\/enterpriseam.com\/egypt\/2022\/12\/21\/suez-canal-controversy-was-everywhere-on-the-talk-shows\/453-jpg-10\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2022\/12\/453.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"453.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2022\/12\/453.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2022\/12\/453.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-578278\" class=\"content-area-description single-story post-578278 post type-post status-publish format-standard has-post-thumbnail hentry category-last-nights-talk-shows tag-abdel-fattah-el-sisi tag-automotive tag-diplomacy tag-enterpriseam tag-last-nights-talk-shows tag-politics tag-suez-canal wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<p><strong>No canals for sale here: <\/strong>The nation\u2019s talking heads spoke in unison last night carrying the government\u2019s message about the proposed Suez Canal fund, which has generated controversy among MPs and on social media about the privatization of assets owned by the Suez Canal Authority. The government yesterday denied accusations from some lawmakers that the fund will enable the sale of assets by the back door while House Speaker Hanafi Gebali sought to dampen rumors that the amendments will pave the way for the sale of the canal itself. More on this in Legislation Watch, above.<\/p>\n<p>Kelma Akhira (<a href=\"https:\/\/www.youtube.com\/watch?v=9xRHi5oByFU\">watch, runtime: 13:04<\/a>), Masaa DMC (<a href=\"https:\/\/www.youtube.com\/watch?v=x-C3uSiyH48\">watch, runtime:7:52<\/a>) and Al Hayah Al Youm (<a href=\"https:\/\/www.youtube.com\/watch?v=0W0Jc7_38bA\">watch, runtime: 5:03<\/a>) all covered the story. Yahduth Fi Masr\u2019s Sherif Amer talked to former SCA boss Mohab Mamish <a href=\"https:\/\/www.youtube.com\/watch?v=jnvcE1P7s-M\">(watch, runtime: 4:30<\/a>) and Khaled Abu Bakr, an advisor to the SCA chairman, appeared on Ala Mas\u2019ouleety to deny the claims (<a href=\"https:\/\/www.youtube.com\/watch?v=ed2ideAQDBA\">watch, runtime: 5:40<\/a>).<\/p>\n<p><strong>The expat car import scheme is yet to take off:<\/strong> In the first five weeks since its launch, around 4k expats have submitted requests to import vehicles under the government scheme, which will likely net the state just USD 62 mn, Kelma Akhira\u2019s Lamees El Hadidi said (<a href=\"https:\/\/www.youtube.com\/watch?v=9MrN8tb-V3Y\">watch, runtime: 3:13<\/a>). The government was originally hoping to draw <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/30f774c7-53ed-44fb-b8cc-2cbd3b37fa9e\">USD 2.5 bn in FX<\/a> from the scheme, which expires at the end of February.<\/p>\n<p><strong>\u201cThese low numbers are an indication that this initiative has issues,\u201d<\/strong> El Hadidi said, blaming the fluctuating EGP\/USD exchange rate and the timing of the initiative for the slow demand.<\/p>\n<p><strong>ELSEWHERE ON THE AIRWAVES- President Abdel Fattah El Sisi\u2019s participation in the <\/strong><strong>Baghdad II gathering in Jordan yesterday got attention<\/strong> from Masaa DMC (<a href=\"https:\/\/www.youtube.com\/watch?v=3DkRuqHgAYs\">watch, runtime: 9:20<\/a>) and Al Hayah Al Youm (<a href=\"https:\/\/www.youtube.com\/watch?v=8uEWCcLkLlE\">watch, runtime: 4:05<\/a>). More on that in Diplomacy, below.<\/p>\n\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/abdel-fattah-el-sisi\/\">Abdel Fattah El Sisi<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/automotive\/\">automotive<\/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\/last-nights-talk-shows\/\">LAST NIGHT\u2019S TALK SHOWS<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/politics\/\">politics<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/suez-canal\/\">Suez Canal<\/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=\"578280\" 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 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role=\"list\" data-label=\"Slide %%d\"><\/div><\/div><\/div>\r\n        <\/div>\r\n<\/section> \r\n\r\n\n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"578281\" 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=\"578281\">\r\n            \r\n                <div class=\"issue-story-header text-center\">\r\n                    <div class=\"index-number\">8<\/div>\r\n\r\n                    <p class=\"f-graphik\">EGYPT IN THE NEWS<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2022\/12\/21\/the-soaring-cost-of-living-and-sinai-hiking-trails-are-getting-ink-in-the-foreign-press\/\">\r\n                            The soaring cost of living and Sinai hiking trails are getting ink in the foreign press                        <\/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\/21\/the-soaring-cost-of-living-and-sinai-hiking-trails-are-getting-ink-in-the-foreign-press\/\" 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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src=\"https:\/\/i0.wp.com\/ent.news\/2022\/12\/454.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"578282\" data-permalink=\"https:\/\/enterpriseam.com\/egypt\/2022\/12\/21\/the-soaring-cost-of-living-and-sinai-hiking-trails-are-getting-ink-in-the-foreign-press\/454-jpg-14\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2022\/12\/454.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"454.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2022\/12\/454.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2022\/12\/454.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-578281\" class=\"content-area-description single-story post-578281 post type-post status-publish format-standard has-post-thumbnail hentry category-egypt-in-the-news tag-economy tag-enterpriseam tag-health tag-inflation tag-new-administrative-capital tag-tourism wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<p><strong>It\u2019s another mixed morning in the international press<\/strong>, with no single story grabbing the attention of foreign journos. Among the headlines:<\/p>\n<ul>\n<li><strong><a href=\"https:\/\/www.thenationalnews.com\/mena\/2022\/12\/20\/three-kids-two-jobs-and-an-aborted-writing-career-the-trials-of-a-mans-life-in-cairo\/\">The National<\/a><\/strong><strong> takes a look at the soaring cost of living <\/strong>and how some Egyptians are finding it hard to make ends meet.<\/li>\n<li><strong>The <\/strong><strong><a href=\"https:\/\/www.nytimes.com\/2022\/12\/19\/travel\/egypt-hiking-trails.html\">New York Times<\/a><\/strong><strong> takes a tour of South Sinai\u2019s overlooked hiking trails <\/strong>managed by Bedouin.<\/li>\n<li><strong>50 doctors, 14 hours, three operating theaters: <\/strong>A woman received a life-saving lung transplant from her two brothers in the country\u2019s first operation of its kind to use live donors. (<a href=\"https:\/\/www.thenationalnews.com\/mena\/egypt\/2022\/12\/20\/egyptian-woman-given-parts-of-two-brothers-lungs-in-landmark-live-donor-surgery\/\">The National<\/a>)<\/li>\n<li><strong>Antiquities alarm:<\/strong> MP Doha Assy tells the <a href=\"https:\/\/www.thenationalnews.com\/mena\/egypt\/2022\/12\/20\/egyptian-mp-doha-assy-sounds-warning-over-threats-to-heritage-sites\/\">National<\/a> that unchecked construction and waste dumping are damaging the country\u2019s heritage sites.<\/li>\n<li><strong>China is the new capital\u2019s biggest funder but this year the country <\/strong><strong>has become <\/strong><strong>more circumspect about lending to Egypt<\/strong> amid concerns about the country\u2019s debt sustainability. (<a href=\"https:\/\/www.al-monitor.com\/originals\/2022\/12\/china-emerges-lead-funder-egypts-new-administrative-city\">Al Monitor<\/a>)<\/li>\n<\/ul>\n\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/economy\/\">economy<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/health\/\">health<\/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\/new-administrative-capital\/\">new administrative capital<\/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                    <\/div>\n    <\/div>\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"578283\" class=\"issue-section \">\n<div class=\"issue-section__content\">\n<div class=\"stories\">    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"578284\" 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=\"578284\">\r\n            \r\n                <div class=\"issue-story-header text-center\">\r\n                    <div class=\"index-number\">9<\/div>\r\n\r\n                    <p class=\"f-graphik\">Also on our Radar<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2022\/12\/21\/rameda-obtains-exclusive-rights-to-sell-physiomer-nasal-spray-in-egypt\/\">\r\n                            Rameda obtains exclusive rights to sell Physiomer nasal spray in Egypt                        <\/a>\r\n                    <\/h3>\r\n\r\n                    \r\n\t\t\t\t\t\n<div class=\"cta\">\n    <div class=\"cta__btn share-dropdown-cta dropdown-toggle-btn\" style=\"position:relative\">\n        <img decoding=\"async\" src=\"https:\/\/ent.news\/internal\/408834.svg\" alt=\"\">\n        Share Story\n        <!-- Dropdown Menu -->\n        <ul class=\"share-menu\">\n            <li class=\"list-inline-item\">\n                <a href=\"https:\/\/enterpriseam.com\/egypt\/2022\/12\/21\/rameda-obtains-exclusive-rights-to-sell-physiomer-nasal-spray-in-egypt\/\" target=\"_blank\">\n                    Open in new tab                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/new-tab.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a href=\"#\" target=\"_blank\" onclick=\"event.preventDefault(); 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The company recently raised its capital from EGP 250 mn to 300 mn via a private subscription of shares, El Gammal said.<\/p>\n<p><strong>About Watania Kuwatia: <\/strong>Established by a consortium of unnamed Kuwaiti and Egyptian investors in 2017, the company owns a sheep farm in Matrouh governorate and is building an EGP 60 mn brick factory in Ain Sokhna, according to Al Borsa.<\/p>\n<p><strong>#2- Amer demerger: <\/strong>Amer Group shareholders approved a plan to spin off some of the company\u2019s activities into a separate firm dubbed A Capital Holding with the intention of listing it on the bourse, it said in an <a href=\"https:\/\/ent.news\/2022\/12\/Amer-Group-20-Dec-22.pdf\">EGX disclosure (pdf)<\/a>.<\/p>\n<p><strong>MANUFACTURING\u2013<\/strong><\/p>\n<p><strong>China\u2019s Jushi has started operations at its new USD 320 mn fiberglass production <\/strong><strong>line<\/strong>, upping the capacity of its factory in the TEDA trade zone to 250k tons from 50k tons, the Suez Canal Economic Zone said in <a href=\"https:\/\/www.facebook.com\/story.php?story_fbid=pfbid0JfTY8uDT5yLbvDeqPSqiGvwbUsMHkLsBr9DxuGbBeisT1RGxbhjy7TBWoqa9QJu8l&id=100068021865220&mibextid=Nif5oz&paipv=0&eav=AfaasnHxBQp8IXkEnggUXZip5ZPdQLHDpbI2NAbNg7lKfWkTnLIN36RcbcQZnyxC-0A&_rdr\">a statement<\/a> Friday.<\/p>\n<p><strong>SCZone head Walid Gamal El Din plans to visit China in 1H 2023 to promote investment in local green fuel feeder industries<\/strong>, he told Chinese Ambassador to Cairo Liao Liqiang at the inauguration of the Jushi production line.<\/p>\n<p><strong>Cooperation with Malaysia on our <\/strong><strong><a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/93d37289-8852-4828-8ea7-7492121a7187\">vegetable oil localization drive<\/a><\/strong><strong>: <\/strong>The<a href=\"http:\/\/ecs.gov.eg\/English\/Pages\/default.aspx\">Egyptian<\/a><a href=\"http:\/\/ecs.gov.eg\/English\/Pages\/default.aspx\">Commercial Service<\/a> is in talks with Malaysian authorities to build a USD 30 mn palm oil processing factory in the Suez Canal Economic Zone for export to the African continent, <a href=\"https:\/\/www.alborsaanews.com\/2022\/12\/18\/1610419\">Al Borsa<\/a> reports. A USD 10 mn bottling plant would be built in a first phase, with a USD 20 mn refinery to follow. Malaysia is one of the world\u2019s biggest producers of palm oil.<\/p>\n<p><strong>PHARMA-<\/strong><\/p>\n<p><strong>Rameda Pharma acquired the exclusive rights to sell nasal decongestant spray <\/strong><strong>Physiomer<\/strong> in Egypt, in what it says is a \u201cstrategic entry point into the medical devices segment,\u201d according to <a href=\"https:\/\/ent.news\/2022\/12\/Rameda-NR-Physiomer-Acquisition-E-Final.pdf\">a statement (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\/amer-group\/\">Amer Group<\/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                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/manufacturing\/\">Manufacturing<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/pharma\/\">pharma<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/rameda-pharma\/\">Rameda Pharma<\/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=\"578288\" 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=\"578288\">\r\n            \r\n                <div class=\"issue-story-header text-center\">\r\n                    <div class=\"index-number\">10<\/div>\r\n\r\n                    <p class=\"f-graphik\">Diplomacy<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2022\/12\/21\/egypt-rejects-foreign-interference-in-iraq-el-sisi-tells-middle-east-summit\/\">\r\n                            Egypt rejects foreign interference in Iraq, El Sisi tells Middle East summit                        <\/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\/21\/egypt-rejects-foreign-interference-in-iraq-el-sisi-tells-middle-east-summit\/\" 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 Baghdad II gathering follows a similar meeting in Iraq last year, and aims to \u201cprovide support for the stability, security and prosperity of Iraq,\u201d the French presidency said in a statement picked up by <a href=\"https:\/\/www.france24.com\/en\/middle-east\/20221220-jordan-hosts-baghdad-ii-summit-aiming-to-defuse-regional-tensions\">AFP<\/a>.<\/p>\n<p><strong>On the sidelines:<\/strong><\/p>\n<ul>\n<li><strong>Egypt x Jordan x Iraq:<\/strong> Leaders from the three countries discussed regional issues including instability in Iraq, and issues of trilateral cooperation including energy and food security. (<a href=\"https:\/\/www.facebook.com\/Egy.Pres.Spokesman\/posts\/pfbid02y2wedpW9AkH5SCK5AGsUSDodBZTJuJRKn5kQjdPLS3PdrK6p6uwZ9n2tEoHpDbhQl\">Ittihadiya<\/a> | <a href=\"https:\/\/petra.gov.jo\/Include\/InnerPage.jsp?ID=47112&lang=en&name=en_news&cat=en_news\">Jordan News Agency<\/a>)<\/li>\n<li><strong>El Sisi x Abdullah:<\/strong> The two leaders discussed recent developments in Palestine and other regional issues. (<a href=\"https:\/\/petra.gov.jo\/Include\/InnerPage.jsp?ID=47113&lang=en&name=en_news&cat=en_news\">Jordan News Agency<\/a>)<\/li>\n<li><strong>El Sisi x Macron:<\/strong> The president held talks with Macron on supporting Iraq, \u201cbilateral relations \u2026 and regional and international issues,\u201d <a href=\"https:\/\/www.facebook.com\/Egy.Pres.Spokesman\/posts\/pfbid0XdvCqTY8kauYwckfVBq7R5k2Y6L16JWxYvpNNqNePdSfwk2k2U5ex9w5wSSc3wsLl\">Ittihadiya<\/a> said without providing further information.<\/li>\n<\/ul>\n<p><strong>** Baghdad III will be held in Egypt<\/strong>, Jordanian Foreign Minister Ayman Safadi <a href=\"https:\/\/petra.gov.jo\/Include\/InnerPage.jsp?ID=47110&lang=en&name=en_news&cat=en_news\">said<\/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\/abdel-fattah-el-sisi\/\">Abdel Fattah El Sisi<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/diplomacy\/\">DIPLOMACY<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/politics\/\">politics<\/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=\"578290\" 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=\"578290\">\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\/21\/tunisia-to-hold-parliamentary-runoff-ballot-next-year-following-dismal-turnout\/\">\r\n                            Tunisia to hold parliamentary runoff ballot next year following dismal turnout                        <\/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\/21\/tunisia-to-hold-parliamentary-runoff-ballot-next-year-following-dismal-turnout\/\" 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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Almost 90% of eligible voters refused to cast ballots in the vote, triggering fresh calls by opposition groups for the resignation of President Kais Saied, who they accuse of a power grab.<\/p>\n<p><strong>EU-Qatar <\/strong><strong>bribery scandal spreads to global trade union body:<\/strong> The head of the International Trade Union Confederation (ITUC) has resigned less than a month after entering office after admitting to receiving cash donations from a former MEP at the center of <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/3fa71ef5-a161-4019-8ffb-b183f952ca63\">a corruption scandal<\/a>, according to the <a href=\"https:\/\/www.ft.com\/content\/50390b9e-3ac5-4898-a5a2-f2f9062bd174\">Financial Times<\/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\/around-the-world\/\">Around the World<\/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                    <\/div>\n    <\/div>\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"578294\" 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\/21\/578294\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-578294\" class=\"content-area-description single-story post-578294 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>DECEMBER<\/strong><\/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>25 December (Sunday): Senate back in session.<\/p>\n<p>31 December (Saturday): E-invoicing registration deadline.<\/p>\n<p>December: Egypt to <a href=\"https:\/\/bit.ly\/3bVoWYy\">expand Sudan electricity link capacity<\/a> to 300 MW.<\/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>2 January (Monday): House back in session.<\/p>\n<p>7 January (Saturday): Coptic Christmas.<\/p>\n<p>24 January-6 February: 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>30 April (Sunday): Deadline for self-employed to register for e-invoicing.<\/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>4 May (Thursday): <a href=\"https:\/\/www.ief.org\/events\/8th-ief-igu-ministerial-gas-forum\">IEF-IGU Ministerial Gas Forum<\/a>, Cairo.<\/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>10 June (Saturday): Thanaweya Amma examinations <a href=\"https:\/\/moe.gov.eg\/what-s-on\/news\/dates-for-the-exams\/\">begin<\/a>.<\/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>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>End of 2022: Decent Life first phase scheduled for completion.<\/p>\n<p>2023: The inauguration of the Grand Egyptian Museum.<\/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":578262,"menu_order":0,"template":"","categories":[],"tags":[],"class_list":["post-578261","issue","type-issue","status-publish","has-post-thumbnail","hentry","wpautop","entry"],"acf":{"mongo_id":"faba286e-ca3a-4520-b7a7-f870bc8be689","teaser":"","photo_url":"https:\/\/ent.news\/2022\/12\/443.jpg"},"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v27.1 (Yoast SEO v27.1.1) - 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