{"id":578511,"date":"2023-01-03T03:41:32","date_gmt":"2023-01-03T03:41:32","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/?post_type=issue&#038;p=578511"},"modified":"2025-12-16T11:41:07","modified_gmt":"2025-12-16T11:41:07","slug":"gb-auto-to-sell-45-of-gb-lease-to-the-uaes-chimera","status":"publish","type":"issue","link":"https:\/\/enterpriseam.com\/egypt\/issues\/gb-auto-to-sell-45-of-gb-lease-to-the-uaes-chimera\/","title":{"rendered":"GB Auto to sell 45% of GB Lease to the UAE\u2019s Chimera"},"content":{"rendered":"<section id=\"578513\" 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=\"578513\">\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\/2023\/01\/03\/this-morning-tired-of-2023-already-take-another-long-weekend\/\">\r\n                            THIS MORNING: Tired of 2023 already? Take another long weekend                        <\/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\/2023\/01\/03\/this-morning-tired-of-2023-already-take-another-long-weekend\/\" 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\/2023\/01\/03\/this-morning-tired-of-2023-already-take-another-long-weekend\/')\">\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\/2023\/01\/03\/this-morning-tired-of-2023-already-take-another-long-weekend\/\">\n                    Facebook                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/facebook-icon2.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a target=\"_blank\" href=\"https:\/\/x.com\/intent\/post?text=THIS MORNING: Tired of 2023 already? Take another long weekend&url=https:\/\/enterpriseam.com\/egypt\/2023\/01\/03\/this-morning-tired-of-2023-already-take-another-long-weekend\/\">\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\/2023\/01\/03\/this-morning-tired-of-2023-already-take-another-long-weekend\/&title=THIS MORNING: Tired of 2023 already? 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Any school and university exams will continue as scheduled, the statement reads. You can expect the central bank and EGX to follow suit with announcements soon.<\/p>\n<p><strong>Today is the first \u201cfull\u201d trading day of 2023 worldwide<\/strong> as traders return to their desks in the US, UK and elsewhere \u2014 many global markets were closed yesterday in observance of the New Year. Here at home, the EGX started the year in the green, with the benchmark EGX30 closing up 2.5%.<\/p>\n<p><strong>Your next holiday here in Omm El Donia <\/strong>will be at the end of the month, when we observe Revolution \/ Police Day on Thursday, 26 January.<\/p>\n<p><strong>THE BIG STORY here at home: GB Auto has agreed to sell 45% of subsidiary GB Lease <\/strong>to our friends at Au Dhabi-based Chimera Investments for EGP 855 mn, valuing the company above the figure given in a fair value study.<\/p>\n<p><strong>THE BIG STORY ABROAD: Scores of Russian soldiers were killed in a Ukrainian <\/strong><strong>strike<\/strong> on a military barracks in eastern Donetsk in the first hours of 2023, in one of the deadliest attacks on Russian forces since the war began. Moscow said 63 of its troops were killed, while the Ukrainian military put the death toll at some 400. (<a href=\"https:\/\/www.wsj.com\/articles\/ukraine-strikes-russian-forces-in-donbas-as-kyiv-repels-more-drone-swarms-11672665144?mod=world_lead_story\">WSJ<\/a> | <a href=\"https:\/\/www.theguardian.com\/world\/2023\/jan\/02\/ukraine-strike-russian-held-makiivka-reportedly-kills-troops\">Guardian<\/a> | <a href=\"https:\/\/edition.cnn.com\/2023\/01\/02\/europe\/ukraine-makiivka-strike-intl\/index.html\">CNN<\/a> | <a href=\"https:\/\/www.washingtonpost.com\/world\/2023\/01\/02\/ukraine-russia-war-donetsk-strike\/\">WaPo<\/a> | <a href=\"https:\/\/apnews.com\/article\/kyiv-russia-ukraine-war-vitali-klitschko-86fd573ab5703957663fd40a5ec8d2a6?utm_source=homepage&utm_medium=TopNews&utm_campaign=position_02\">AP<\/a> | <a href=\"https:\/\/www.reuters.com\/world\/europe\/defiant-ukrainians-cheer-new-year-drones-blasted-skies-2023-01-01\/\">Reuters<\/a> | <a href=\"https:\/\/www.ft.com\/content\/075cf243-eae5-48ab-9e8c-bf1f108d299d\">FT<\/a>)<\/p>\n<p><strong>IN MEMORIAM-<\/strong><\/p>\n<p><strong>Our friend Karim Ragab (<\/strong><strong><a href=\"https:\/\/www.linkedin.com\/in\/karimragab\/\">LinkedIn<\/a><\/strong><strong>) has died in a car accident on the Red Sea coast.<\/strong> Karim was a well-known entrepreneur, executive coach, business advisor, school builder, and investor who co-founded <a href=\"https:\/\/tabibi247.com\/\">Tabibi 24\/7<\/a> and, with his wife, Carmen, <a href=\"https:\/\/kompasseducation.com\/\">Kompass Education<\/a>. In recent years, Karim worked as a part-time operations advisor to the private equity firm Ezdehar, as well as with leadership transformation outfit Aberkyn, a unit of McKinsey. We\u2019ve known Karim since his days at Qalaa Holding (when it was called Citadel Capital) and have always admired his passion for his family and for building businesses that could put a dent in the universe. In addition to Carmen, Karim leaves behind three wonderful boys. God rest your soul.<\/p>\n<p><strong>WHAT\u2019S HAPPENING TODAY-<\/strong><\/p>\n<p><strong>IN THE HOUSE-<\/strong> Supply Minister Ali El Moselhy faces questions from MPs on how the ministry plans to ensure the availability of key commodities in the lead-up to Ramadan amid soaring prices, as well as on bread subsidies and ration cards.<\/p>\n<p><strong>No price sticker? Big problem:<\/strong> The two-week <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/1055320c-e8cc-40c0-903e-bd379e4c4bc3\">grace period<\/a> that was given to retailers to clearly display prices on their products has elapsed, Alaa Ezz, secretary-general of the Federation of Egyptian Chambers of Commerce (FEDCOC), reportedly <a href=\"https:\/\/www.alborsaanews.com\/2023\/01\/02\/1616105\">confirmed<\/a> to Al Borsa.<\/p>\n<p><strong>REFRESHER- <\/strong>Under new rules introduced last month to tamp down on food price inflation, retailers who don\u2019t comply with pricing rules are now at risk of having their shops shut down and their stock confiscated and sold to citizens. In parallel, we\u2019re still waiting to hear more on the suggested price list the government is drawing up for certain essential foods.<\/p>\n<div class=\"row\">\n<div class=\"col-md-12 subscribe-box-panel\">\n<div class=\"\">\n<div class=\"title\">\n<h4 class=\"fw-lighter mb-10\">\n          Get <b style=\"font-weight: 700\">Enterprise<\/b> daily<br \/>\n        <\/h4>\n<\/p><\/div>\n<p class=\"mb-10\">The roundup of news and trends that move your markets and shape corporate agendas delivered straight to your inbox.<\/p>\n<p>      <a href=\"egypt\/en\/user\/NewsLetters\" type=\"button \" class=\"btn-green px-3 d-flex align-items-center\">Subscribe here<\/a>\n    <\/div>\n<\/p><\/div>\n<\/div>\n<p><strong>WATCH THIS SPACE #1- Egypt plans to operate its two gas liquefaction plants at <\/strong><strong>full capacity throughout the year<\/strong>, Oil Minister Tarek El Molla reportedly <a href=\"https:\/\/www.asharqbusiness.com\/article\/45651\/\u0648\u0632\u064a\u0631-\u0627\u0644\u0628\u062a\u0631\u0648\u0644-\u0644\u0640\u0627\u0644\u0634\u0631\u0642-\u0645\u0635\u0631-\u062a\u0633\u0639\u0649-\u0644\u062a\u0634\u063a\u064a\u0644-\u0645\u062d\u0637\u062a\u064a-\u0625\u0633\u0627\u0644\u0629-\u0627\u0644\u063a\u0627\u0632-\u0628\u0643\u0627\u0645\u0644-\u0637\u0627\u0642\u062a\u0647\u0627-\u0639\u0644\u0649-\u0645\u062f\u0627\u0631-\u0627\u0644\u0639\u0627\u0645\/\">said<\/a>. We still had <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/19bcd142-b49c-46b3-8775-463c056ee38e\">spare capacity<\/a> at the Idku and Damietta liquefaction facilities as of June last year, El Molla said at the time.<\/p>\n<p><strong>REMEMBER- <\/strong>The value of our natural gas exports <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/55a208f8-3511-4be5-a205-79af803793dd\">jumped 140% y-o-y<\/a> to reach USD 8.4 bn in 2022, while volume was up 14% to hit 8 mn tons \u2014 90% of which was directed to Europe. Maximum capacity for LNG exports could reach 12 mn tons per annum in the next three years, El Molla said in May. The government has been working to up production in a bid to boost LNG exports, as the country looks to capitalize on hot markets amid the loss of Russian fossil fuel supply to Europe and cement itself as a <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/613a0e7e-2a74-4d1b-8b28-0c9660944559\">regional energy export hub<\/a>.<\/p>\n<p><strong>WATCH THIS SPACE #2- A <\/strong><strong>boost<\/strong><strong> for North Coast tourism in time for summer? <\/strong>El Alamein International Airport will start receiving scheduled flights starting in March, Civil Aviation Minister Mohamed Abbas told reporters yesterday at a presser, according to <a href=\"https:\/\/english.ahram.org.eg\/NewsContent\/1\/1235\/483561\/Egypt\/Urban--Transport\/Egypt\u2019s-Alamein-airport-ready-to-receive-regular-f.aspx\">Ahram Online<\/a>. The North Coast airport started receiving charter flights in August last year, according to the news outlet.<\/p>\n<p><strong>CIRCLE YOUR CALENDAR-<\/strong><\/p>\n<p><strong>The key news triggers as we start a new month:<\/strong><\/p>\n<ul>\n<li>December\u2019s <strong>Purchasing Managers\u2019 Index<\/strong> for <strong>Egypt<\/strong> will land on <strong>Wednesday, 4 January.<\/strong><\/li>\n<li><strong>Foreign reserves<\/strong> figures for <strong>December<\/strong> should be out later this week.<\/li>\n<li><strong>Inflation<\/strong> figures for <strong>December<\/strong> will be released on <strong>Tuesday, 10 January<\/strong>.<\/li>\n<li>The<strong> national dialogue<\/strong> will kick off on <strong>Saturday, 14 January<\/strong>.<\/li>\n<li>The government\u2019s <strong>fuel pricing committee <\/strong>will meet this month to <strong>decide quarterly fuel prices<\/strong>.<\/li>\n<li>Global movers and shakers will descend on <strong>Davos<\/strong> for the<strong> World Economic Forum\u2019s annual meetings<\/strong> on <strong>16-20 January<\/strong>.<\/li>\n<li>The <strong>IMF<\/strong> will publish an <strong>updated World Economic Outlook<\/strong> towards the end of the month.<\/li>\n<\/ul>\n<p><strong>The EGX will be <\/strong><strong><a href=\"https:\/\/ent.news\/2022\/12\/Screen-Shot-2022-12-27-at-3.27.08-PM.png\">trialing an update (pdf)<\/a><\/strong><strong> to its trading platform on Wednesday, 4 January <\/strong><strong>and Thursday, 5 January<\/strong> from 3pm to 4:30pm. The update includes changes to the way stocks\u2019 daily closing price is calculated and approved.<\/p>\n<p><strong><a href=\"https:\/\/enterprise.press\/am-edition\/#calendar\">Check out our full calendar on the web<\/a><\/strong> for a comprehensive listing of upcoming news events, national holidays and news triggers.<\/p>\n<div class=\"stand-out\"><strong>ENTERPRISE IS LOOKING FOR SMART, TALENTED PEOPLE of all backgrounds to help us build some very cool new things.<\/strong> <a href=\"https:\/\/enterprise.press\/\">Enterprise<\/a> \u2014 the essential daily read on what\u2019s happening in business, finance, economics and policy in Egypt and the wider region \u2014 is looking for writers, reporters, and editors to help us build new publications. Today, we run three daily publications, five weekly industry verticals, and a monthly newsletter designed to make our readers feel just a bit smarter.<\/p>\n<p><strong>We have tons more in the pipeline \u2014 and we want you to join us.<\/strong> We offer the chance to work in a fast-paced newsroom on a broad range of topics and in a variety of formats. Our goal is simple: To create value for our growing community of well over readers by telling stories that matter.<\/p>\n<p><strong>We're looking for gifted story-tellers from all walks of life and across all professions<\/strong>, as long as they show a keen interest in learning to write about the stories, topics, businesses, and ideas moving markets. Egyptian and foreign nationals alike are welcome to apply. So are job-switchers: If you\u2019re an equities analyst tired of the rat race, we\u2019re a great place to come work.<\/p>\n<p><strong>NEVER WORKED IN A NEWSROOM BEFORE?<\/strong> We have the Enterprise Business Writing Development Program. Whether you are a recent graduate, an industry vet, or looking to switch careers, the Enterprise Business Writing Development Program will give you the tools you need to tell the most important stories to our audience of C-suite officials, government ministers, diplomats, financiers, investors, and entrepreneurs.<\/p>\n<p><strong>During the program you will learn:<\/strong><\/p>\n<ul>\n<li><strong>The key news stories and trends shaping business<\/strong> and the economy in Egypt and the region, across various sectors;<\/li>\n<li><strong>Business and finance for non-finance people:<\/strong> Whether it's industry jargon, key concepts, or simply how to read a balance sheet;<\/li>\n<li><strong>How to construct an Enterprise story:<\/strong> From idea formulation down to the structure, style, and tone of writing;<\/li>\n<li><strong>How to develop sources<\/strong> that will give you the key insights needed to tell a complete story;<\/li>\n<li><strong>How to communicate these stories<\/strong> with the confidence and language of an insider.<\/li>\n<\/ul>\n<p><strong>Not an internship program \u2014 a career:<\/strong> The four-month program will see full-time, paid participants take part in workshops and lectures from veteran business journalists, while also working on and filing stories that will run in our publications. <strong>Those who successfully complete the program will then be offered full-time positions on staff.<\/strong><\/p>\n<p><strong>Apply directly to <\/strong><strong><a href=\"mailto:jobs@enterprisemea.com\">jobs@enterprisemea.com<\/a><\/strong><strong> and mention \"I want to be a journalist\" in your subject line.<\/strong><\/div>\n<\/p>\n<p class=\"web-image\"><img data-recalc-dims=\"1\" decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2021\/3\/INFINITY-Top-banner-EN-1600x675-v2-02.png?ssl=1\" alt=\"enterprise\" \/><\/p>\n<p><strong>*** It\u2019s Going Green day \u2014 your weekly briefing of all things green in Egypt:<\/strong> Enterprise\u2019s green economy vertical focuses each Tuesday on the business of renewable energy and sustainable practices in Egypt, everything from solar and wind energy through to water, waste management, sustainable building practices and how you can make your business greener, whatever the sector.<\/p>\n<p><strong>In today\u2019s issue: The year ahead.<\/strong> What can we expect from the green economy in 2023?<\/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\/ali-el-moselhy\/\">Ali El Moselhy<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/commodities\/\">commodities<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/el-alamein-international-airport\/\">El Alamein International Airport<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/tarek-el-molla\/\">Tarek El Molla<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/trade\/\">trade<\/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=\"578515\" 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=\"578515\">\r\n            \r\n            <div class=\"story__body\">\r\n\r\n                <a href=\"https:\/\/enterpriseam.com\/egypt\/2023\/01\/03\/578515\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-578515\" class=\"content-area-description single-story post-578515 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\/2023\/1\/Simply-Somabay-3-1600px.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=\"578516\" 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=\"578516\">\r\n            \r\n                <div class=\"issue-story-header text-center\">\r\n                    <div class=\"index-number\">2<\/div>\r\n\r\n                    <p class=\"f-graphik\">M&amp;A WATCH<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2023\/01\/03\/gb-auto-agrees-to-sell-45-of-its-leasing-business-to-chimera-investments\/\">\r\n                            GB Auto agrees to sell 45% of its leasing business to Chimera Investments                        <\/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\/2023\/01\/03\/gb-auto-agrees-to-sell-45-of-its-leasing-business-to-chimera-investments\/\" 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\/2023\/01\/03\/gb-auto-agrees-to-sell-45-of-its-leasing-business-to-chimera-investments\/')\">\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\/2023\/01\/03\/gb-auto-agrees-to-sell-45-of-its-leasing-business-to-chimera-investments\/\">\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=GB Auto agrees to sell 45% of its leasing business to Chimera Investments&url=https:\/\/enterpriseam.com\/egypt\/2023\/01\/03\/gb-auto-agrees-to-sell-45-of-its-leasing-business-to-chimera-investments\/\">\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\/2023\/01\/03\/gb-auto-agrees-to-sell-45-of-its-leasing-business-to-chimera-investments\/&title=GB Auto agrees to sell 45% of its leasing business to Chimera Investments\">\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=GB+Auto+agrees+to+sell+45%25+of+its+leasing+business+to+Chimera+Investments+https%3A%2F%2Fenterpriseam.com%2Fegypt%2F2023%2F01%2F03%2Fgb-auto-agrees-to-sell-45-of-its-leasing-business-to-chimera-investments%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\/2023\/01\/03\/gb-auto-agrees-to-sell-45-of-its-leasing-business-to-chimera-investments\/\">\r\n                    <div class=\"photo photo--above\">\r\n                        <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2023\/1\/35.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"578517\" data-permalink=\"https:\/\/enterpriseam.com\/egypt\/2023\/01\/03\/gb-auto-agrees-to-sell-45-of-its-leasing-business-to-chimera-investments\/35-jpg-19\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2023\/1\/35.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"35.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2023\/1\/35.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2023\/1\/35.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-578516\" class=\"content-area-description single-story post-578516 post type-post status-publish format-standard has-post-thumbnail hentry category-ma-watch tag-chimera-investments tag-enterpriseam tag-gb-auto tag-gb-lease tag-leasing tag-ma-watch tag-non-banking-financial-services wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<p><a id=\"tldr-story-01\" class=\"content-anchor\"><\/a> <strong>GB Auto approves GB Lease stake sale: <\/strong>GB Auto\u2019s board has approved plans to sell a 45% stake in GB Lease to our friends at Abu Dhabi-based investment firm Chimera Investments for EGP 855 mn, after approving the results of a <a href=\"https:\/\/ent.news\/2023\/1\/GB-Auto-Fair-value-study.pdf\">fair value study (pdf)<\/a>, the company said in an <a href=\"https:\/\/ent.news\/2023\/1\/GB-Auto-board-MA-02-01-2022.pdf\">EGX disclosure (pdf)<\/a> yesterday.<\/p>\n<p><strong>REMEMBER-<\/strong> GB Auto unit GB Capital <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/148c0cd3-7e12-4e7a-86bf-24b8540f2621\">last month greenlit the transaction<\/a>, which will see it retain the remaining 55% stake in the company. We were expecting the acquisition to wrap up before the end of the year.<\/p>\n<p><strong>Chimera's offer is generous<\/strong>, as you\u2019d expect it to be in seeking a stake of that size in a large, high-margin business, with Baker Tilly\u2019s fair value study suggesting Chimera\u2019s offer is at a double-digit premium.<\/p>\n<p><strong>Not their first rodeo: GB and Chimera are already partners <\/strong>after GB Auto <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/62633330-583e-48e5-aa0e-388dfee91e7d\">sold<\/a> a 7.5% stake in MNT Investments to Chimera in November as part of a <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/c95034ed-0327-4eef-8d94-7329f3f97e13\">larger agreement<\/a> that will see Chimera acquire a 21.7% stake in the Netherlands-based payments company.<\/p>\n<p><strong>BACKGROUND- <\/strong>Chimera <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/3d95db4f-30ad-4c19-be74-c430dc796d97\">has been in talks<\/a> with GB Auto to acquire the shares since September. GB Capital has been considering a <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/607f07dc-39e5-41e8-92e6-e07275e4c2e7\">partial sell-down<\/a> in its leasing business for over a year, during which time the company had received offers from several firms.<\/p>\n<p><strong>Advisors: <\/strong>Arqaam Capital is acting as the sell-side advisor to GB Capital, while Matouk Bassiouny & Hennawy are legal counsel. Adsero-Ragy Soliman and Partners are buy-side counsel.<\/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\/chimera-investments\/\">Chimera Investments<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/gb-auto\/\">GB Auto<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/gb-lease\/\">GB Lease<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/leasing\/\">leasing<\/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\/non-banking-financial-services\/\">non-banking financial services<\/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=\"578518\" 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=\"578518\">\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\">Energy<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2023\/01\/03\/egypt-set-to-hedge-against-rising-oil-prices\/\">\r\n                            Egypt set to hedge against rising oil prices                        <\/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\/2023\/01\/03\/egypt-set-to-hedge-against-rising-oil-prices\/\" 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\/2023\/01\/03\/egypt-set-to-hedge-against-rising-oil-prices\/')\">\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\/2023\/01\/03\/egypt-set-to-hedge-against-rising-oil-prices\/\">\n                    Facebook                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/facebook-icon2.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a target=\"_blank\" href=\"https:\/\/x.com\/intent\/post?text=Egypt set to hedge against rising oil prices&url=https:\/\/enterpriseam.com\/egypt\/2023\/01\/03\/egypt-set-to-hedge-against-rising-oil-prices\/\">\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\/2023\/01\/03\/egypt-set-to-hedge-against-rising-oil-prices\/&title=Egypt set to hedge against rising oil prices\">\n                    LinkedIn                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/linkedin-icon.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a href=\"https:\/\/api.whatsapp.com\/send?text=Egypt+set+to+hedge+against+rising+oil+prices+https%3A%2F%2Fenterpriseam.com%2Fegypt%2F2023%2F01%2F03%2Fegypt-set-to-hedge-against-rising-oil-prices%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\/2023\/01\/03\/egypt-set-to-hedge-against-rising-oil-prices\/\">\r\n                    <div class=\"photo photo--above\">\r\n                        <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2023\/1\/36.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"578519\" data-permalink=\"https:\/\/enterpriseam.com\/egypt\/2023\/01\/03\/egypt-set-to-hedge-against-rising-oil-prices\/36-jpg-23\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2023\/1\/36.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"36.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2023\/1\/36.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2023\/1\/36.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-578518\" class=\"content-area-description single-story post-578518 post type-post status-publish format-standard has-post-thumbnail hentry category-energy tag-commodities tag-energy tag-enterpriseam tag-oil-and-gas wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<p><a class=\"content-anchor\" id=\"tldr-story-02\"><\/a> The Madbouly government agreed in December to purchase hedging contracts to guard against volatility in the oil markets, <a href=\"https:\/\/bit.ly\/3WAsdhY\">Bloomberg Asharq<\/a> reported yesterday, citing two government sources. \u201cThe oil and finance ministries are waiting for the appropriate timing to contract and implement hedging contracts,\u201d one of the sources told the news outlet.<\/p>\n<p><strong>The move comes after oil prices saw extreme volatility in 2022 <\/strong>on the back of a supply squeeze thanks to the war in Ukraine, dwindling demand from the world\u2019s largest crude importer China, and fears of global recession. Brent climbed to its highest level since 2008 in the wake of the war\u2019s outbreak but has since fallen back to around USD 86 per barrel. (Read more on what swings in the markets meant for Egypt in 2022 in our <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/e0924942-d112-4dc1-9d44-4618c4dd9026\">year in review<\/a> on the energy sector.)<\/p>\n<p><strong>Why this matters:<\/strong> As a net oil importer, higher crude prices are putting pressure on public finances.<\/p>\n<ul>\n<li><strong>The state is spending more on imports than it anticipated:<\/strong> The price of Brent spent most of the first half of FY 2022-2023 above the <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/59023cb0-be71-414c-9041-8118c08c2965\">USD 80 per barrel be<\/a><a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/59023cb0-be71-414c-9041-8118c08c2965\">nchmark<\/a> used for the state budget.<\/li>\n<li><strong>The subsidy bill is rising:<\/strong> The government spent EGP 31 bn on fuel subsidies during 1Q FY 2022-2023, more than 4x its spend during the same period in FY 2021-2022, a source at the Egyptian General Petroleum Corporation (EGPC) told <a href=\"https:\/\/bit.ly\/3Z6X2fK\">Bloomberg Asharq<\/a> in November. The fuel subsidy bill for FY 2021-2022 was up to EGP 59.6 bn, more than triple the EGP 18.4 bn estimated in the budget.<\/li>\n<\/ul>\n<p><strong>This isn\u2019t a one-off<\/strong>: Hedging against oil price risks has become a common practice by the government in recent years. It <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/ba4fcfcf-f2b6-47fc-b460-9cd8760fcb59\">took out hedging contracts<\/a> with international banks in FY 2019-2020.<\/p>\n\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/commodities\/\">commodities<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/energy\/\">energy<\/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=\"578520\" 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=\"578520\">\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\">DEBT WATCH<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2023\/01\/03\/misr-italia-closes-second-securitized-bond-issuance\/\">\r\n                            Misr Italia closes second securitized bond issuance                        <\/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\/2023\/01\/03\/misr-italia-closes-second-securitized-bond-issuance\/\" 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\/2023\/01\/03\/misr-italia-closes-second-securitized-bond-issuance\/')\">\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\/2023\/01\/03\/misr-italia-closes-second-securitized-bond-issuance\/\">\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=Misr Italia closes second securitized bond issuance&url=https:\/\/enterpriseam.com\/egypt\/2023\/01\/03\/misr-italia-closes-second-securitized-bond-issuance\/\">\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\/2023\/01\/03\/misr-italia-closes-second-securitized-bond-issuance\/&title=Misr Italia closes second securitized bond issuance\">\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=Misr+Italia+closes+second+securitized+bond+issuance+https%3A%2F%2Fenterpriseam.com%2Fegypt%2F2023%2F01%2F03%2Fmisr-italia-closes-second-securitized-bond-issuance%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\/2023\/01\/03\/misr-italia-closes-second-securitized-bond-issuance\/\">\r\n                    <div class=\"photo photo--above\">\r\n                        <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2023\/1\/38.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"578521\" data-permalink=\"https:\/\/enterpriseam.com\/egypt\/2023\/01\/03\/misr-italia-closes-second-securitized-bond-issuance\/38-jpg-14\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2023\/1\/38.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"38.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2023\/1\/38.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2023\/1\/38.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-578520\" class=\"content-area-description single-story post-578520 post type-post status-publish format-standard has-post-thumbnail hentry category-debt-watch tag-debt-watch tag-efg-hermes tag-enterpriseam tag-misr-italia-properties tag-real-estate tag-securitization 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>Misr Italia Properties has closed its second EGP 986 mn securitized <\/strong><strong>bond <\/strong><strong>issu<\/strong><strong>ance<\/strong>, transaction advisor EFG Hermes said in a <a href=\"https:\/\/ent.news\/2023\/1\/EFG-Hermes-Misr-Italia-Securitization-Second-Issuance-English.pdf\">statement (pdf)<\/a> yesterday.<\/p>\n<p><strong>The details: <\/strong>The issuance is backed by a receivables portfolio from two of the real estate developer\u2019s subsidiaries. Its three tranches received ratings ranging from AA+ to A from Middle East Rating and Investors Service, according to the release.<\/p>\n<p><strong>This is the second issuance in an EGP 2.5 bn securitization program<\/strong>, which kicked off early last year with an <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/efbbdfcf-0c4c-4fe1-85ed-1b68623ff028\">EGP 794 mn bond sale<\/a>. The money raised in the first issuance helped the company \u201cachieve its project development objectives in 2022, having constructed over 2.5k units and delivered units with a total value of EGP 3.1 bn,\u201d Misr Italia CEO Mohamed El Assal said.<\/p>\n<p><strong>2022 was a <\/strong><strong>record-breaking year:<\/strong> The issuance takes the total value of bonds sold in 2022 to EGP 46.4 bn, up from EGP 15.8 bn in 2021, by our count.<\/p>\n<p><strong>Advisors: <\/strong>EFG Hermes acted as the sole financial advisor, bookrunner, and underwriter for the issuance. Al Ahly Pharos was the lead arranger, while CIB and the National Bank of Egypt were underwriters. Dreny and Partners was lead advisor and KPMG was the auditor.<\/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\/debt-watch\/\">debt watch<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/efg-hermes\/\">EFG Hermes<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/misr-italia-properties\/\">Misr Italia Properties<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/real-estate\/\">real estate<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/securitization\/\">securitization<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                    <\/div>\n    <\/div>\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"578522\" 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=\"578522\">\r\n            \r\n            <div class=\"story__body\">\r\n\r\n                <a href=\"https:\/\/enterpriseam.com\/egypt\/2023\/01\/03\/578522\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-578522\" class=\"content-area-description single-story post-578522 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.57357.org\/en\/donation\/donation-ways\/\"><img data-recalc-dims=\"1\" decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2022\/12\/Moharram-Partners-57357-Web-ENG.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=\"578523\" 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=\"578523\">\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\">LEGISLATION WATCH<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2023\/01\/03\/house-signs-off-on-green-hydrogen-infrastructure-oil-exploration-bills\/\">\r\n                            House signs off on green hydrogen, infrastructure, oil exploration bills                        <\/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\/2023\/01\/03\/house-signs-off-on-green-hydrogen-infrastructure-oil-exploration-bills\/\" 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\/2023\/01\/03\/house-signs-off-on-green-hydrogen-infrastructure-oil-exploration-bills\/')\">\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\/2023\/01\/03\/house-signs-off-on-green-hydrogen-infrastructure-oil-exploration-bills\/\">\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=House signs off on green hydrogen, infrastructure, oil exploration bills&url=https:\/\/enterpriseam.com\/egypt\/2023\/01\/03\/house-signs-off-on-green-hydrogen-infrastructure-oil-exploration-bills\/\">\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\/2023\/01\/03\/house-signs-off-on-green-hydrogen-infrastructure-oil-exploration-bills\/&title=House signs off on green hydrogen, infrastructure, oil exploration bills\">\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=House+signs+off+on+green+hydrogen%2C+infrastructure%2C+oil+exploration+bills+https%3A%2F%2Fenterpriseam.com%2Fegypt%2F2023%2F01%2F03%2Fhouse-signs-off-on-green-hydrogen-infrastructure-oil-exploration-bills%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\/2023\/01\/03\/house-signs-off-on-green-hydrogen-infrastructure-oil-exploration-bills\/\">\r\n                    <div class=\"photo photo--above\">\r\n                        <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2023\/1\/39.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"578524\" data-permalink=\"https:\/\/enterpriseam.com\/egypt\/2023\/01\/03\/house-signs-off-on-green-hydrogen-infrastructure-oil-exploration-bills\/39-jpg-20\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2023\/1\/39.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"39.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2023\/1\/39.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2023\/1\/39.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-578523\" class=\"content-area-description single-story post-578523 post type-post status-publish format-standard has-post-thumbnail hentry category-legislation-watch tag-dabaa-nuclear-plant tag-egyptian-general-petroleum-corporation tag-energy tag-eni tag-enterpriseam tag-french-development-agency tag-green-hydrogen tag-house-of-representatives tag-infrastructure tag-legislation-watch tag-oil-and-gas tag-tax wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<p><a class=\"content-anchor\" id=\"tldr-story-04\"><\/a> <strong>MPs greenlight port development, oil exploration + green hydrogen bills:<\/strong> MPs signed off on several bills yesterday, including legislation paving the way for the government to bring in private companies to develop container terminals and Eni to explore for oil in the Western Desert. Among the bills approved yesterday:<\/p>\n<p><strong>#1- Ports: <\/strong><a href=\"http:\/\/www.parliament.gov.eg\/News_Show.aspx?frm=4612\">Two bills<\/a> that would allow the government to grant a concession to a consortium of foreign and local companies to develop two container terminals at the ports of <strong>Ain Sokhna<\/strong> and <strong>Dekheila<\/strong>. Hutchison Ports last year <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/fc19dd65-0333-4fdb-b35e-3078501b2edf\">signed initial agreements<\/a> with the government to build new container terminals at the two ports alongside COSCO, CMA CMG, and MSC. The container terminals would be built on a build, operate, transfer (BOT) basis, said Alaa Abed, head of the House Transport Committee.<\/p>\n<p><strong>#2-<\/strong> <strong>Oil exploration: <\/strong>A bill to <a href=\"http:\/\/www.parliament.gov.eg\/News_Show.aspx?frm=4614\">allow oil exploration<\/a> by the Egyptian General Petroleum Company (EGPC) and Eni\u2019s local subsidiary in the Western Desert.<\/p>\n<p><strong>#3- Hydrogen: <\/strong>A presidential decree approving a EUR 500k grant agreement from the French Development Agency (AFD) to develop our green hydrogen sector.<\/p>\n<p><strong>#4- Railways: <\/strong>Amendments to a <a href=\"https:\/\/enterprise.press\/stories\/2019\/12\/15\/egypt-signs-eur-1-bn-loan-agreement-for-transmashholding-railcar-purchase-8435\/\">2019 agreement<\/a> that would see the Hungarian Export-Import Bank <a href=\"http:\/\/www.parliament.gov.eg\/News_Show.aspx?frm=4613\">supply<\/a><a href=\"http:\/\/www.parliament.gov.eg\/News_Show.aspx?frm=4613\">1.4k railcars<\/a> to Egypt.<\/p>\n<p><strong>AND-<\/strong> <strong>Tax breaks inch clo<\/strong><strong>ser for the builders of Dabaa: <\/strong>The House Energy Committee gave its final approval to <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/0db6db4b-d0a7-42d5-ad0e-45b67777a22c\">amendments to the law regulating the Nuclear Power Plants Authority (NPPA)<\/a>, which would fully exempt from taxes all parties involved in building and operating nuclear projects. The legislation comes to speed up the implementation of Rosatom-built Dabaa, the country\u2019s first nuclear plant.<\/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\/dabaa-nuclear-plant\/\">Dabaa nuclear plant<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/egyptian-general-petroleum-corporation\/\">Egyptian General Petroleum Corporation<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/energy\/\">energy<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/eni\/\">Eni<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/french-development-agency\/\">French Development Agency<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/green-hydrogen\/\">green hydrogen<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/house-of-representatives\/\">House of Representatives<\/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\/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                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/tax\/\">tax<\/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=\"578525\" 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=\"578525\">\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\">Manufacturing<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2023\/01\/03\/elsewedy-electric-proposes-egp-20-bn-industrial-zone-west-of-cairo\/\">\r\n                            Elsewedy Electric proposes EGP 20 bn industrial zone west of Cairo                        <\/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\/2023\/01\/03\/elsewedy-electric-proposes-egp-20-bn-industrial-zone-west-of-cairo\/\" 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 three-phase project could attract investments worth EGP 20 bn, create 150k jobs, and add EGP 5 bn to the country\u2019s annual GDP once complete, Elsewedy Electric CEO Ahmed El Sewedy said in the statement, without giving a potential timeline for its construction.<\/p>\n<p><strong>The details: <\/strong>The 5-mn-square-meter industrial zone would be among the country\u2019s largest, housing more than 400 factories, 100 logistics and commercial facilities, a park, and a technical training academy, according to Elsewedy. It would be located near the 6 October dry port, which <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/457c2436-decc-4107-b965-5818e87c431f\">began trial operations in November<\/a>, and linked by railway to Alexandria port. The company set up to build and operate the 6 October dry port is <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/0ab5eaaa-91d0-45f5-a884-103468011eaf\">70% owned<\/a> by Elsewedy Electric.<\/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\/ahmed-el-sewedy\/\">Ahmed El Sewedy<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/construction\/\">construction<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/elsewedy-electric\/\">Elsewedy Electric<\/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\/investment-watch\/\">investment watch<\/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\/new-6-october-city\/\">New 6 October City<\/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=\"578527\" 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=\"578527\">\r\n            \r\n            <div class=\"story__body\">\r\n\r\n                <a href=\"https:\/\/enterpriseam.com\/egypt\/2023\/01\/03\/578527\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-578527\" class=\"content-area-description single-story post-578527 post type-post status-publish format-standard hentry category-uncategorized wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<p class=\"web-image\"><a href=\"https:\/\/www.sodic.com\/\"><img data-recalc-dims=\"1\" decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2022\/11\/1-SODIC-Karokee-1600x1600-1.jpg?ssl=1\" alt=\"enterprise\"><\/a><\/p>\n\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"578528\" 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=\"578528\">\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\/2023\/01\/03\/the-grand-egyptian-museum-is-to-be-inaugurated-in-months\/\">\r\n                            The Grand Egyptian Museum is to be inaugurated in \u201cmonths\u201d                        <\/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\/2023\/01\/03\/the-grand-egyptian-museum-is-to-be-inaugurated-in-months\/\" 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\/2023\/01\/03\/the-grand-egyptian-museum-is-to-be-inaugurated-in-months\/')\">\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\/2023\/01\/03\/the-grand-egyptian-museum-is-to-be-inaugurated-in-months\/\">\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 Grand Egyptian Museum is to be inaugurated in \u201cmonths\u201d&url=https:\/\/enterpriseam.com\/egypt\/2023\/01\/03\/the-grand-egyptian-museum-is-to-be-inaugurated-in-months\/\">\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\/2023\/01\/03\/the-grand-egyptian-museum-is-to-be-inaugurated-in-months\/&title=The Grand Egyptian Museum is to be inaugurated in \u201cmonths\u201d\">\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+Grand+Egyptian+Museum+is+to+be+inaugurated+in+%E2%80%9Cmonths%E2%80%9D+https%3A%2F%2Fenterpriseam.com%2Fegypt%2F2023%2F01%2F03%2Fthe-grand-egyptian-museum-is-to-be-inaugurated-in-months%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\/2023\/01\/03\/the-grand-egyptian-museum-is-to-be-inaugurated-in-months\/\">\r\n                    <div class=\"photo photo--above\">\r\n                        <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2023\/1\/41.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"578529\" data-permalink=\"https:\/\/enterpriseam.com\/egypt\/2023\/01\/03\/the-grand-egyptian-museum-is-to-be-inaugurated-in-months\/41-jpg-17\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2023\/1\/41.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"41.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2023\/1\/41.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2023\/1\/41.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-578528\" class=\"content-area-description single-story post-578528 post type-post status-publish format-standard has-post-thumbnail hentry category-last-nights-talk-shows tag-ancient-egypt tag-enterpriseam tag-grand-egyptian-museum tag-last-nights-talk-shows tag-osama-rabie tag-suez-canal tag-tourism wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<p><strong>It was a mixed bag on the talk shows last night, <\/strong>as the pundits celebrated the repatriation of a looted sarcophagus as well as another record-breaking year for Suez Canal revenues.<\/p>\n<p><a class=\"content-anchor\" id=\"tldr-story-06\"><\/a> <strong>The Grand Egyptian Museum will be inaugurated \u201cwithin a few months,\u201d <\/strong>Secretary-General of the Supreme Council of Antiquities Mostafa Waziri told Ala Mas\u2019ouleety\u2019s Ahmed Moussa in a phone call (<a href=\"https:\/\/www.youtube.com\/watch?v=QHYMNt92Pl4\">watch, runtime: 3:24<\/a>). Waziri did the rounds on the talk shows last night to talk about the successful repatriation of a looted sarcophagus to Egypt from the US (more on that in our Egypt in the News section, below.)<\/p>\n<p><strong>Suez Canal registers record revenues in 2022<\/strong><strong>:<\/strong> Revenues from the Suez Canal increased 25% y-o-y in 2022 to reach around USD 8 bn, while the number of transiting ships increased by 14% y-o-y to 23.6k vessels, according to an <a href=\"https:\/\/www.facebook.com\/Egy.Pres.Spokesman\/posts\/729578595197538?_rdc=1&_rdr\">Ittihadiya statement<\/a>. Suez Canal Authority boss Osama Rabie phoned in to Al Hayah Al Youm to discuss the record results, as well as ongoing plans to <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/4efd47f2-548c-4454-aaed-14c2016ce56e\">develop the canal<\/a> and offer new services (<a href=\"https:\/\/www.youtube.com\/watch?v=yb5hl7Hm-eI\">watch, runtime: 7:55<\/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\/ancient-egypt\/\">Ancient Egypt<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/grand-egyptian-museum\/\">Grand Egyptian Museum<\/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\/osama-rabie\/\">Osama Rabie<\/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                            <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=\"578530\" class=\"issue-section \">\n<div class=\"issue-section__content\">\n<div class=\"stories\">      \r\n<section id=\"advertiser\" class=\"enterprise-adv issue-section\">\r\n    <div class=\"issue-section__content\" style=\"flex-direction: column;\">\r\n  \r\n                <h4 class=\"wp-block-heading has-text-align-center has-normal-font-size\">\r\n                <span class=\"has-primary-color stk-highlight\">This publication is proudly sponsored by<\/span><\/h4>\r\n                \r\n\r\n                \r\n                <div class=\"wp-block-stackable-carousel alignwide stk-block-carousel stk--is-slide stk--infinite-scroll stk--arrows-justify-space-between stk--arrows-align-center stk-block stk-a38cfb2 sponsor-slider-container mb-0\" data-slides-to-show=\"3\" data-block-id=\"a38cfb2\"><style>.stk-a38cfb2 {--slides-to-show:3 !important;}.stk-a38cfb2 .stk-block-carousel__button{background:#00000099 !important;fill:#FFFFFF !important;border-radius:4px !important;}.stk-a38cfb2 .stk-block-carousel__button svg.ugb-custom-icon :is(g, path, rect, polygon, ellipse){fill:#FFFFFF 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draggable=\"false\" src=\"https:\/\/i0.wp.com\/ent.news\/internal\/240923.png?ssl=1\">\r\n                <div class=\"overlay\"><\/div>\r\n                <div class=\"content\">\r\n                    <a draggable=\"false\" href=\"https:\/\/efghldg.com\/en\" target=\"_blank\" class=\"logo\" rel=\"noopener\">\r\n                        <img decoding=\"async\" draggable=\"false\" src=\"https:\/\/ent.news\/internal\/27488.svg\" alt=\"\">\r\n                    <\/a>\r\n                    <span>Realize More<\/span>\r\n                <\/div>\r\n            <\/div>\r\n            <\/div><\/div><\/div>\r\n        \r\n            <div class=\"wp-block-stackable-column stk-block-column stk-column stk-block stk-xyj79ar\" data-v=\"4\" data-block-id=\"xyj79ar\"><div class=\"stk-column-wrapper stk-block-column__content stk-container stk-xyj79ar-container stk--no-background stk--no-padding\"><div class=\"stk-block-content stk-inner-blocks stk-xyj79ar-inner-blocks\">\r\n            <div 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class=\"stk-block-carousel__buttons\"><button class=\"stk-block-carousel__button stk-block-carousel__button__prev\" aria-label=\"Previous slide\"><svg aria-hidden=\"true\" focusable=\"false\" data-prefix=\"fas\" data-icon=\"chevron-left\" class=\"svg-inline--fa fa-chevron-left\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" viewBox=\"0 0 320 512\" width=\"32\" height=\"32\"><path d=\"M34.52 239.03L228.87 44.69c9.37-9.37 24.57-9.37 33.94 0l22.67 22.67c9.36 9.36 9.37 24.52.04 33.9L131.49 256l154.02 154.75c9.34 9.38 9.32 24.54-.04 33.9l-22.67 22.67c-9.37 9.37-24.57 9.37-33.94 0L34.52 272.97c-9.37-9.37-9.37-24.57 0-33.94z\"><\/path><\/svg><\/button><button class=\"stk-block-carousel__button stk-block-carousel__button__next\" aria-label=\"Next slide\"><svg aria-hidden=\"true\" focusable=\"false\" data-prefix=\"fas\" data-icon=\"chevron-right\" class=\"svg-inline--fa fa-chevron-right\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" viewBox=\"0 0 320 512\" width=\"32\" height=\"32\"><path d=\"M285.476 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NEWS<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2023\/01\/03\/looted-sarcophagus-back-on-home-soil\/\">\r\n                            Looted sarcophagus back on home soil                        <\/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\/2023\/01\/03\/looted-sarcophagus-back-on-home-soil\/\" target=\"_blank\">\n                    Open in new tab                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/new-tab.svg\" alt=\"\"> -->\n            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data-permalink=\"https:\/\/enterpriseam.com\/egypt\/2023\/01\/03\/looted-sarcophagus-back-on-home-soil\/42-jpg-16\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2023\/1\/42.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"42.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2023\/1\/42.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2023\/1\/42.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-578531\" class=\"content-area-description single-story post-578531 post type-post status-publish format-standard has-post-thumbnail hentry category-egypt-in-the-news tag-ancient-egypt tag-enterpriseam wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<p><a class=\"content-anchor\" id=\"tldr-story-07\"><\/a> <strong>A looted ancient sarcophagus displayed at the Houston Museum of Natural <\/strong><strong>Sciences was handed over to Egypt by the US<\/strong>, the <a href=\"https:\/\/apnews.com\/article\/science-politics-egypt-government-manhattan-21fe41acdce6ba04b8183c0cda9afa3f\">Associated Press<\/a> reports. The sarcophagus was returned last week, more than three months after an investigation by the Manhattan District Attorney\u2019s Office revealed that it was illegally smuggled into the country from Abusir Necropolis in Cairo back in 2008. The sarcophagus will be moved to the Egyptian Museum in Tahrir Square to undergo restoration work, Secretary-General of the Supreme Council of Antiquities Mostafa Waziri said in a phone call with Al Hadath Al Youm (<a href=\"https:\/\/www.youtube.com\/watch?v=U7B_Ca8EY4o\">watch, runtime: 5:02<\/a>.)<\/p>\n<p><strong>This is the latest success in repatriating stolen artifacts back to the country:<\/strong> Egyptian authorities managed to get 5.3k antiquities returned to the country in 2021.<\/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\/ancient-egypt\/\">Ancient Egypt<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                    <\/div>\n    <\/div>\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"578533\" class=\"issue-section \">\n<div class=\"issue-section__content\">\n<div class=\"stories\">    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"578536\" 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=\"578536\">\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\">AROUND THE WORLD<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2023\/01\/03\/dubai-scraps-alcohol-sales-tax-personal-liquor-license-fees\/\">\r\n                            Dubai scraps alcohol sales tax, personal liquor license fees                        <\/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\/2023\/01\/03\/dubai-scraps-alcohol-sales-tax-personal-liquor-license-fees\/\" 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 move was announced in ads (<a href=\"https:\/\/www.instagram.com\/reel\/Cm3LXyfDmvk\/?igshid=MDJmNzVkMjY=\">here<\/a> and <a href=\"https:\/\/www.instagram.com\/reel\/Cm4ND7hjdFc\/?utm_source=ig_web_copy_link\">here<\/a>) by the city\u2019s two state-linked alcohol distributors and official suppliers of police-issued <a href=\"https:\/\/retail.mmidubai.com\/liquor-licence\/\">liquor licenses<\/a> that non-Muslims are legally required to hold in order to purchase alcohol. <a href=\"https:\/\/apnews.com\/article\/politics-dubai-united-arab-emirates-government-qatar-national-soccer-team-taxes-c347c105d9230bb0bdbedd065d8e2d04\">The AP<\/a> has more.<\/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\/dubai\/\">Dubai<\/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=\"578540\" 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\/2023\/01\/03\/578540\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-578540\" class=\"content-area-description single-story post-578540 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>JANUARY<\/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>January: Global Auto to <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/feba3115-5fdb-4cdf-bf31-aa0284dd48b0\">restart BMW assembly<\/a> in Egypt.<\/p>\n<p>2 January (Monday): House back in session.<\/p>\n<p>7 January (Saturday): Coptic Christmas.<\/p>\n<p>16-20 January (Monday-Friday): <a href=\"https:\/\/www.weforum.org\/events\/\">Davos 2023<\/a>.<\/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<\/strong><\/p>\n<p>2 February (Thursday): Central Bank of Egypt\u2019s Monetary Policy Committee meeting.<\/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 <\/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>30 March (Thursday): Central Bank of Egypt\u2019s Monetary Policy Committee meeting.<\/p>\n<p><strong>APRIL <\/strong><\/p>\n<p>1 April (Saturday): Deadline for banks to establish sustainability units.<\/p>\n<p>10-16 April (Monday-Sunday): IMF \/ World Bank Spring Meetings, Marrakesh, Morocco.<\/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>30 April (Sunday): End of Mediterranean, Nile Delta oil + gas exploration tender.<\/p>\n<p>Late April \u2013 15 May: 1Q2023 earnings season.<\/p>\n<p><strong>MAY <\/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>18 May (Thursday): Central Bank of Egypt\u2019s Monetary Policy Committee meeting.<\/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 new Board of Governors,from 22-26 May 2023.\">will host<\/a> the African Development Bank (AfDB) annual meetings in Sharm El Sheikh.<\/p>\n<p><strong>JUNE <\/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>22 June (Thursday): Central Bank of Egypt\u2019s Monetary Policy Committee meeting.<\/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 <\/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>AUGUST <\/strong><\/p>\n<p>3 August (Thursday): Central Bank of Egypt\u2019s Monetary Policy Committee meeting.<\/p>\n<p><strong>SEPTEMBER <\/strong><\/p>\n<p>21 September (Thursday): Central Bank of Egypt\u2019s Monetary Policy Committee meeting.<\/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 <\/strong><\/p>\n<p>6 October (Friday): Armed Forces Day.<\/p>\n<p>Late October-14 November: 3Q2023 earnings season.<\/p>\n<p><strong>NOVEMBER <\/strong><\/p>\n<p>2 November (Thursday): Central Bank of Egypt\u2019s Monetary Policy Committee meeting.<\/p>\n<p><strong>DECEMBER <\/strong><\/p>\n<p>21 December (Thursday): Central Bank of Egypt\u2019s Monetary Policy Committee meeting.<\/p>\n<p><strong>EVENTS WITH NO SET DATE <\/strong><\/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: Egypt + Qatar to launch joint business forum.<\/p>\n<p>1Q 2023: FRA to introduce <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/677d7076-0142-4ba8-9bee-b1d82926f380\">new rules<\/a> for short selling.<\/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":578512,"menu_order":0,"template":"","categories":[],"tags":[],"class_list":["post-578511","issue","type-issue","status-publish","has-post-thumbnail","hentry","wpautop","entry"],"acf":{"mongo_id":"1cf80fcd-58ec-456c-9a37-969bee8ed3f3","teaser":"","photo_url":"https:\/\/ent.news\/2023\/1\/31.jpg"},"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v27.1 (Yoast SEO v27.1.1) - https:\/\/yoast.com\/product\/yoast-seo-premium-wordpress\/ -->\n<title>GB Auto to sell 45% of GB Lease to the UAE\u2019s Chimera - EnterpriseAM Egypt<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/enterpriseam.com\/egypt\/issues\/gb-auto-to-sell-45-of-gb-lease-to-the-uaes-chimera\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta 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