{"id":578985,"date":"2023-01-22T04:15:13","date_gmt":"2023-01-22T04:15:13","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/?post_type=issue&#038;p=578985"},"modified":"2025-12-16T11:51:48","modified_gmt":"2025-12-16T11:51:48","slug":"foreign-investors-eye-egyptian-debt-amid-higher-yields-weaker-egp","status":"publish","type":"issue","link":"https:\/\/enterpriseam.com\/egypt\/issues\/foreign-investors-eye-egyptian-debt-amid-higher-yields-weaker-egp\/","title":{"rendered":"Foreign investors eye Egyptian debt amid higher yields, weaker EGP"},"content":{"rendered":"<section id=\"578987\" 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=\"578987\">\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\/22\/this-morning-introducing-the-enterprise-fdi-exports-forum\/\">\r\n                            THIS MORNING: Introducing the Enterprise FDI + Exports Forum                        <\/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\/22\/this-morning-introducing-the-enterprise-fdi-exports-forum\/\" 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class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"578988\" data-permalink=\"https:\/\/enterpriseam.com\/egypt\/2023\/01\/22\/this-morning-introducing-the-enterprise-fdi-exports-forum\/353-jpg-14\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2023\/1\/353.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"353.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2023\/1\/353.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2023\/1\/353.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-578987\" class=\"content-area-description single-story post-578987 post type-post status-publish format-standard has-post-thumbnail hentry category-what-were-tracking-today tag-enterprise-fdi-exports-forum tag-enterpriseam tag-fdi tag-state-privatization-program tag-tourism tag-what-were-tracking-today wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<aside>\t\t\t<div\r\n\t\t\t\t\t\t\t\tclass=\"newspack-popup-container newspack-popup hidden  newspack-inline-popup  newspack-lightbox-no-border   \"\r\n\t\t\t\trole=\"button\"\r\n\t\t\t\ttabindex=\"0\"\r\n\t\t\t\tstyle=\"background-color:#FFFFFF;color:#000\"\r\n\t\t\t\tid=\"id_27645\"\r\n\t\t\t\tdata-segments=\"\"\r\n\t\t\t\tdata-frequency=\"0,0,0,month\"\r\n\t\t\t>\r\n\t\t\t\t\n<div class=\"wp-block-group has-light-gray-background-color has-background\" style=\"padding-top:0px;padding-right:0px;padding-bottom:0px;padding-left:0px\"><div class=\"wp-block-group__inner-container is-layout-constrained wp-container-core-group-is-layout-ef38739e wp-block-group-is-layout-constrained\">\n<div class=\"wp-block-group is-content-justification-center is-nowrap is-layout-flex wp-container-core-group-is-layout-94bc23d7 wp-block-group-is-layout-flex\">\n<p class=\"f-graphik\" style=\"font-size:14px\">Together with<\/p>\n\n\n<div class=\"wp-block-image\">\n<figure class=\"aligncenter size-full\"><img decoding=\"async\" src=\"https:\/\/s3.amazonaws.com\/resources.inktankir.com\/internal\/27482.svg\" alt=\"\" class=\"wp-image-27482\"\/><\/figure>\n<\/div><\/div>\n<\/div><\/div>\n\t\t\t<\/div>\r\n\t\t<\/aside>\n<p><strong>Good morning, folks, and a very warm welcome to the <\/strong><strong><a href=\"https:\/\/www.nbcnews.com\/news\/asian-america\/year-rabbit-symbolize-rcna65578\">Year of the Rabbit<\/a><\/strong><strong>. <\/strong>To our friends and readers celebrating the Lunar New Year, we wish you health and happiness.<\/p><p><strong>We\u2019re wishing particularly happy holidays to those choosing to spend them in Egypt: <\/strong>Cairo International Airport welcomed a group of Chinese tourists on board a Sichuan Airlines flight on Friday, the first Chinese-flagged flight to land in Egypt in years, the Civil Aviation Ministry said in <a href=\"https:\/\/web.facebook.com\/moca123\/posts\/pfbid02K36ourpPw8d5TnQEmaSLQuZ7bCXYjqMs1gqr1S5gGgFcFhyxdysCofUBbb4RnoZPl\">a statement<\/a>.<\/p><p><strong>And more Chinese tourists could arrive soon: <\/strong>EgyptAir will resume flights to China in March after Beijing <a href=\"https:\/\/www.ft.com\/content\/eb8530d3-414f-4e65-8ce5-09fba3dbee14\">eased its covid-19 travel curbs<\/a>, CEO Yehia Zakaria said during a presser on Friday, according to <a href=\"https:\/\/www.shorouknews.com\/news\/view.aspx?cdate=20012023&amp;id=24b15c21-475f-443a-bc5a-8969d6efc5d5\">Al Shorouk<\/a>. The flag carrier will operate 13 flights a week to cities including Beijing, Hangzhou, and Guangzhou, he said. Flights to and from China have been on a three-year hiatus due to the pandemic.<\/p><p><strong>We have a holiday of our own this week: <\/strong>Thursday is a paid holiday for private sector employees to <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/fdcc17cc-20ff-42ec-8d95-fff5c85b8d0a\">mark Police Day and the 25 January revolution<\/a>, the Manpower Ministry confirmed in a <a href=\"https:\/\/bit.ly\/3XPmiFQ\">statement<\/a> on Friday, following an announcement by <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/fdcc17cc-20ff-42ec-8d95-fff5c85b8d0a\">Prime Minister Moustafa Madbouly<\/a> last week. We\u2019re still waiting on similar announcements from the central bank and stock exchange.<\/p><hr class=\"grey-line\"><p><strong>EGP WATCH- The EGP slipped another 0.6% against the greenback on Thursday<\/strong> to 29.89 from 29.70 from the day before, according to the official central bank exchange rate. The EGP started the year at 24.70 to the greenback.<\/p><p><strong>PRIVATIZATION WATCH-<\/strong> Prime Minister Moustafa Madbouly headed the first meeting of a committee <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/d041e1e1-1f9c-4271-8391-d6c3b10e965f\">formed to implement<\/a> the state ownership policy document on Thursday, cabinet said in <a href=\"https:\/\/bit.ly\/3kzfM88\">a statement<\/a>. Attendees included everyone from the good folks at the Sovereign Fund of Egypt to the ministers of planning, finance, electricity, housing, agriculture, local development, industry, as well as the heads of GAFI and the military\u2019s NSPO. The committee heard that the Cabinet\u2019s Information and Decision Support Center is building a database of state-owned companies.<\/p><p><strong>REMEMBER-<\/strong> Released<a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/d041e1e1-1f9c-4271-8391-d6c3b10e965f\">in December,<\/a> the final version of the privatization strategy charts how the government aims to more than double the private sector\u2019s role in the economy to 65% and attract USD 40 bn in private investment by 2026. The government says it will reduce its involvement in a number of sectors via public share offerings, stake sales to strategic investors, and expanding public-private partnerships.<\/p><p><strong>WATCH THIS SPACE- GAFI wants to make it easier to set up a new company:<\/strong> GAFI plans to launch in early April an electronic platform to make it easier to set up a business, CEO Hossam Heiba was quoted as saying by <a href=\"https:\/\/www.alborsaanews.com\/2023\/01\/20\/1623257\">Al Borsa<\/a>. The platform will provide investors with the services to establish companies, authenticate contracts at notary offices, and register using electronic signatures among other services.<\/p><p><strong>AND- We\u2019re through to the quarter-finals of the International Handball Federation\u2019s 202<\/strong><strong>3 World Championship: <\/strong>The national handball team came through the group stage on top after beating Belgium <a href=\"https:\/\/www.ihf.info\/media-center\/news\/egypt-make-huge-step-forward-malmo\">33-28 on Thursday<\/a> and <a href=\"https:\/\/www.ihf.info\/media-center\/news\/egypt-through-quarter-finals-questions-remain\">Bahrain 26-22<\/a> on Friday. We have one last showdown in the group stage with Denmark tomorrow at 9:30 pm CLT, but the result won't affect our chances. Details of the final fixtures are yet to be announced.<\/p><p><strong>COME TO OUR NEXT ENTERPRISE FORUM- <\/strong><\/p><p class=\"web-image\"><img data-recalc-dims=\"1\" decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2023\/1\/Enterprise-FDI-Exports_1600.jpg?ssl=1\" alt=\"enterprise\"><\/p><p><strong>We\u2019re excited to unveil our next C-level event: The Enterprise FDI + Exports Forum,<\/strong> where we will take a deep dive into two of the most critical topics affecting our community.<\/p><p><strong>Exports and foreign direct investment (FDI) have never been more important to our economy<\/strong> \u2014 or our businesses \u2014 than in the wake of the float of the EGP. <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/edition\/am\/feeda831-c0fd-43df-b197-08ddb74254e7\">We think we have a once-in-a-lifetime chance to build an export-led economy<\/a> that makes us a magnet for FDI and all the benefits that will come with it for our nation.<\/p><p><strong>The Enterprise FDI + Exports Forum asks a simple question: Where do we go from here? <\/strong><\/p><p><strong>The Enterprise FDI + Exports Forum is the latest in our series of must-attend, invitation-only gatherings for C-suite-level business leaders<\/strong>, where they can talk openly and honestly about important issues in key parts of the economy. The gathering, which will take place in May 2023, will focus on how to start making moves across continents, including:<\/p><ul>\n<li>What do we have to sell to global markets, including products <em>and <\/em>services? What should our priority industries be?<\/li>\n<li>How can you break into an export market? How can you make your business a component of the global supply chain? Hear from directly from potential partners and buyers about what they\u2019re looking for.<\/li>\n<li>How to leverage big domestic trends \u2014 and turn them into even massive export opportunities. <\/li>\n<li>How to climb the value-add ladder in a way that matches up with trends in key export markets.<\/li>\n<li>How do you choose an export market? What countries should Egyptian businesses be looking at as export targets \u2014 and why?<\/li>\n<li>What are foreign investors looking for? How can you pitch them on a JV \u2014 or on investing in your business?<\/li>\n<\/ul><p><strong>Think of the Enterprise FDI + Exports Forum as a hands-on lab for how to turn the float of the EGP into something that will turbocharge your company. <\/strong><\/p><p><strong>COMING IN MAY<\/strong> \u2014 stay tuned for updates.<\/p><p><strong>Want to partner with us on the conference?<\/strong> Ping a note to Moustafa Taalab, our head of commercial, <a href=\"mailto:mtaalab@inktankir.com\">here<\/a>.<\/p><hr class=\"grey-line\"><p><strong>HAPPENING TODAY- <\/strong><\/p><p><strong>The Senate is back in session today and tomorrow<\/strong> to discuss this year\u2019s tourism promotion strategy, taxing teachers on their private tutoring income, and legislation to boost exports.<\/p><ul>\n<li><strong>The <\/strong><strong>Senate\u2019s Financial and Economic Committee will debate amendments to the 2017 investment law<\/strong> that would boost export-led industries, as well as ways to remove obstacles to upping meds and pharma exports across the African continent.<\/li>\n<li><strong>Tourism Minister Ahmed Issa will explain how the government plans to more than double tourist revenues and the number of visitors to Egypt. <\/strong> We\u2019re hoping to attract as many as 30 mn tourists to the country by 2028, Tourism Minister Ahmed Issa said <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/b252d5fc-e5e3-41f9-a8ca-8c9cf8c17127\">last week<\/a>. The government plans to launch a new tourism strategy later this quarter to bring more people to the country.<\/li>\n<\/ul><p><strong>AND <\/strong><strong>TOMORROW- <\/strong><strong>Time to tax private tutors? <\/strong>Senators are set to discuss the possibility of imposing a 10% income tax on teachers who provide <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/cfb52c12-f239-487e-8c57-c05cf2395787\">private tutoring<\/a>, with the proceeds to be spent on improving public schools. Education Minister Reda Hegazy will also deliver a statement on education reform.<\/p><p><strong>Hani Sonbol, CEO of the International Islamic Trade Finance Corporation (ITFC), is <\/strong><strong>in Cairo<\/strong>, <a href=\"https:\/\/bit.ly\/3J9emv8\">Al Mal<\/a> reports. Sonbol will meet with government ministers to discuss the organization\u2019s work in Egypt.<\/p><p><strong>HAPPENING THIS WEEK-<\/strong><\/p><p><strong>El Sisi heads to India on Tuesday: <\/strong>President Abdel Fattah El Sisi will lead a delegation including ministers and other officials on a three-day visit from Tuesday, 24 January to Thursday, 26 January at the invitation of Indian Prime Minister Narendra Modi, according to an Indian Foreign Ministry <a href=\"https:\/\/www.mea.gov.in\/incoming-visit-detail.htm?36139\/State%20Visit%20of%20President%20of%20Egypt%20to%20India%20January%202426%202023\">statement<\/a>. El Sisi will hold bilateral meetings with Indian officials, meet with representatives of the local business community, and be honored as \u201cchief guest\u201d at celebrations to mark the 74th anniversary of Indian independence, the statement reads.<\/p><p><strong>THE BIG STORY ABROAD- More goodies have been unearthed in the ongoing Easter Egg <\/strong><strong>hunt<\/strong> that is the US Justice Department\u2019s search for classified documents President Joe Biden has left places. The <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/d041e1e1-1f9c-4271-8391-d6c3b10e965f\">Financial Times<\/a>, <a href=\"https:\/\/www.reuters.com\/world\/us\/justice-department-found-more-classified-documents-search-biden-home-lawyer-says-2023-01-22\/\">Reuters<\/a>, <a href=\"https:\/\/apnews.com\/article\/biden-politics-delaware-0827b59ee141b33af95023377713e075?utm_source=homepage&amp;utm_medium=TopNews&amp;utm_campaign=position_01\">AP News<\/a>, the <a href=\"https:\/\/www.wsj.com\/articles\/more-classified-documents-found-at-bidens-delaware-home-11674346611?mod=hp_lead_pos1\">Wall Street Journal<\/a>, the <a href=\"https:\/\/www.washingtonpost.com\/politics\/2023\/01\/21\/biden-classified-documents\/?itid=hp-top-table-main_p001_f001\">Washington Post<\/a>, and the <a href=\"https:\/\/www.nytimes.com\/2023\/01\/21\/us\/politics\/biden-documents.html\">New York Times<\/a> are all splashing the news.<\/p><p><strong>In the business press, it\u2019s going to be a busy \u2014 and likely brutal \u2014 week for tech <\/strong><strong>earnings: <\/strong>US equity investors are entering the week with gritted teeth as Microsoft and Tesla headline a flurry of major earnings releases that will help reveal the state of the economy as many gird for a recession this year. In the tech sector at least, a recent wave of job cuts at major firms means hopes are not high. <a href=\"https:\/\/www.bloomberg.com\/news\/articles\/2023-01-21\/microsoft-kicks-off-tech-earnings-set-to-slump-most-since-2016?sref=mmeFTDW1\">Bloomberg<\/a> and the <a href=\"https:\/\/www.wsj.com\/articles\/tesla-microsoft-are-headlining-first-busy-earnings-week-of-2023-11674276881?mod=hp_lead_pos5\">WSJ<\/a> have more.<\/p><p><strong>Having over-hired when times were good, tech giants are now slashing jobs hard and <\/strong><strong>fast: <\/strong>At least 200k people have lost their jobs at US-based tech giants since the start of the year, including:<\/p><ul>\n<li>Amazon \u2014 18k<\/li>\n<li>Google \u2014 12k<\/li>\n<li>Meta \u2014 11k<\/li>\n<li>Microsoft \u2014 10k<\/li>\n<li>Salesforce \u2014 8k<\/li>\n<li>Twitter \u2014 4k<\/li>\n<\/ul><hr class=\"grey-line\"><p><strong>MORNING MUST READ- <\/strong><\/p><p><strong>We, for one, will welcome our new robot overlords:<\/strong> <s>Tyrell Corp<\/s> Boston Dynamics over the weekend showed off the latest moves of its humanoid robot. Terrifying, yes. But that 360\u00b0 backflip? (<a href=\"https:\/\/youtu.be\/-e1_QhJ1EhQ\">watch, runtime: 1:20<\/a>)<\/p><p><strong>AND- Add \u201cgetting a Wharton MBA\u201d to the <\/strong><strong><a href=\"https:\/\/www.ft.com\/content\/7229ba86-142a-49f6-9821-f55c07536b7c\">growing list of things AI sensation<\/a><\/strong><strong><a href=\"https:\/\/www.ft.com\/content\/7229ba86-142a-49f6-9821-f55c07536b7c\">ChatGPT can do<\/a><\/strong> at least as well as you.<\/p><p><strong>WATCH THIS SPACE-<\/strong><\/p><p><strong>European Investment Bank President Werner Hoyer met I<\/strong><strong>nternational Cooperation <\/strong><strong>Minister Rania Al Mashat<\/strong> to discuss next steps in the lender\u2019s role as \u201cmain development partner\u201d for the government\u2019s landmark Nexus on Water, Food and Energy (NWFE) climate program, according to a cabinet <a href=\"https:\/\/www.facebook.com\/EgyptianCabinet\/posts\/pfbid032WtbiRsez8mt6MeuGpJotcPNkLTUhXLooCzHQH87sEf4QZxaZPpTDGbm6pATUxaql\">statement<\/a>. The pair met on the sidelines of the World Economic Forum in Davos, which wrapped last week.<\/p><p><strong>REMEMBER- The government managed to secure some <\/strong><strong><a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/78d954b3-0d56-460d-af13-2358656a7958\">USD 10.3 bn<\/a><\/strong><strong> worth of climate funding agreements at COP27 for NWFE<\/strong>, which seeks to implement some USD 15 bn worth of projects to turbocharge the country\u2019s green transition, including an energy project worth USD 10 bn and eight food security, agriculture, and irrigation and water projects.<\/p><p><strong>MORE ON CLIMATE FINANCE OUT OF DAVOS- ESG is getting far too personal for <\/strong><strong>Mr. Fink. <\/strong>BlackRock CEO Larry Fink wants those on all sides of the ESG debate to put down the pitchforks, saying at a <a href=\"https:\/\/www.bloomberg.com\/news\/articles\/2023-01-17\/blackrock-s-fink-says-esg-narrative-has-become-ugly-personal?sref=mmeFTDW1\">Bloomberg<\/a> event in Davos that the \u201cnarrative\u201d around socially and environmentally responsible investing \u201cis ugly, the narrative is creating this huge polarization\u2026 It\u2019s hard because it\u2019s not business any more, they\u2019re doing it in a personal way.\u201d BlackRock has found itself between a rock and a hard place trying to appease those on both ends of the US political spectrum over environmental standards, Bloomberg reports. The giant asset manager is trying to \u201cchange the narrative\u201d on ESG and green investments to focus on \u201cthe concept of hope,\u201d Fink said.<\/p><div class=\"row\">\n<div class=\"col-md-12 subscribe-box-panel\">\n<div class=\"\">\n<div class=\"title\">\n<h4 class=\"fw-lighter mb-10\">\n          Get <b style=\"font-weight: 700\">Enterprise<\/b> daily<br>\n        <\/h4>\n<\/div>\n<p class=\"mb-10\">The roundup of news and trends that move your markets and shape corporate agendas delivered straight to your inbox.<\/p>\n<p>      <a href=\"egypt\/en\/user\/NewsLetters\" type=\"button \" class=\"btn-green px-3 d-flex align-items-center\">Subscribe here<\/a>\n    <\/p><\/div>\n<\/div>\n<\/div><p><strong>CIRCLE YOUR CALENDAR-<\/strong><\/p><p><strong>The Cairo International Book Fair <\/strong>will open its doors to the public at the International Exhibition Center in New Cairo this Thursday, 26 January. The event runs until 6 February.<\/p><p><strong><a href=\"https:\/\/enterprise.press\/am-edition\/#calendar\">Check out our full calendar on the web<\/a><\/strong> for a comprehensive listing of upcoming news events, national holidays and news triggers.<\/p><p class=\"web-image\"><a href=\"https:\/\/whatsnext.enterprise.press\/\"><img data-recalc-dims=\"1\" decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2021\/11\/Whats-Next-Vertical-Banner-En-1600-1.jpg?ssl=1\" alt=\"enterprise\"><\/a><\/p><p><strong>*** It\u2019s What\u2019s Next day:<\/strong> We have our weekly deep-dive into what makes and shapes pre-listed companies and startups in Egypt, the UAE and KSA, touching on investment trends, future sector insights and growth journeys.<\/p><p><strong>In today\u2019s issue:<\/strong> Why some Egyptian startups prefer to set up shop abroad.<\/p>\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\/enterprise-fdi-exports-forum\/\">Enterprise FDI + Exports Forum<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/fdi\/\">FDI<\/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                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/tourism\/\">tourism<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/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=\"578989\" 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=\"578989\">\r\n            \r\n            <div class=\"story__body\">\r\n\r\n                <a href=\"https:\/\/enterpriseam.com\/egypt\/2023\/01\/22\/578989\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-578989\" class=\"content-area-description single-story post-578989 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-6-1600px.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\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=\"578990\" 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=\"578990\">\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\/2023\/01\/22\/higher-yields-a-weaker-egp-have-foreign-investors-looking-at-egypt\/\">\r\n                            Higher yields + a weaker EGP have foreign investors looking at 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\/2023\/01\/22\/higher-yields-a-weaker-egp-have-foreign-investors-looking-at-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 spread between most EGP treasury bills and other emerging-market debt last week widened to its highest on record, while authorities\u2019 commitment to a flexible exchange rate has removed some of the currency risk and made EGP more attractive to foreign investors, the business newswire reports.<\/p>\n<p><strong>Inflows have picked up this month<\/strong> after the central bank allowed the currency to depreciate further against the greenback. Some <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/82413afa-8ce0-4f25-a595-8a9db3523771\">USD 925 mn entered Egypt\u2019s foreign exchange market<\/a> in the three days following the devaluation on 11 January, which saw the EGP fall to <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/63a7ec65-1966-4d8f-9b11-181cbd0f12b6\">a record low of 32.20<\/a> against the greenback during trading before rebounding.The EGP has continued to slip slightly against the USD in the days since and closed last Thursday at some 29.89 against the USD, according to the official central bank rate.<\/p>\n<p><strong>Conditions are improving:<\/strong> \u201cAfter holding an underweight position for much of 2022, I finally see the conditions for re-entering the local market,\u201d an analyst at Columbia Threadneedle Investments told Bloomberg. Columbia Threadneedle believes that the EGP is up to 25% undervalued when measured by its real effective exchange rate. \u201cIt does feel like we are closer to the end of the FX devaluation process now than the beginning,\u201d said a fund manager at Fidelity International. \u201cWe can expect demand to resume, especially in an environment where global inflation, global yields and the USD are all now pushing lower.\u201d<\/p>\n<p><strong>More to be done?<\/strong> \u201cWith inflation spiking to close to 30% in the coming months and no FX anchor given the change in regime, we still think the CBE has to show more mettle,\u201d a London-based portfolio manager at FIM Partners said. The central bank has <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/b3b7b9a2-2fe4-419d-a713-f9655e5f5a22\">raised interest rates 800 bps<\/a> over the last year, pushing its key rate to 16.25% \u2014 its highest level since early 2019. Others say the EGP still has further to fall against the greenback before they are ready to re-enter the market, with Deutsche Bank among those predicting the EGP to weaken further to USD 33 before it stabilizes.<\/p>\n<p><strong>The state has been trying to bring investors back to the country <\/strong>to quell a foreign-currency shortage. Investors pulled some <a href=\"https:\/\/www.bloomberg.com\/news\/articles\/2022-09-22\/egypt-explores-china-japan-loans-imf-deal-needs-month-or-two?sref=mmeFTDW1\">USD 22 bn<\/a> from EGP-denominated debt between March and September last year on the back of the war in Ukraine, tightening financial conditions, and soaring inflation, which pushed real interest rates deep into negative territory.<\/p>\n<p><strong>FX shortage in the rear-view mirror? <\/strong>President Abdel Fattah El Sisi presented the USD shortage as a thing of the past over the weekend in a speech (<a href=\"https:\/\/www.youtube.com\/watch?v=eBCyhkFRDP4\">watch, runtime: 3:42<\/a>) aimed at reassuring the public amid soaring prices. \u201cWe had an issue securing USDs over the past couple of months \u2026 but at the moment we have no issues related to the USD,\u201d El Sisi said, defending his government\u2019s record on the economy. \u201cThings are hard but thankfully we have them under control and we will be able to surpass them and move forward together,\u201d he said.<\/p>\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/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\/debt\/\">debt<\/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                    <\/div>\n    <\/div>\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"578992\" 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=\"578992\">\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\">M&amp;A WATCH<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2023\/01\/22\/gb-capital-sells-a-45-stake-in-gb-lease-to-chimera-investments\/\">\r\n                            GB Capital sells a 45% stake in GB Lease 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\/22\/gb-capital-sells-a-45-stake-in-gb-lease-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(); 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This comes two weeks after GB Auto\u2019s board <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/7e58c8e4-7278-4cad-bf74-7da1bed3815d\">greenlit the stake sale<\/a> to the Abu Dhabi-based investment firm. GB Capital will a controling 55% stake in the company, which the transaction values at EGP 1.9 bn according to our math.<\/p>\n<p><strong>Refresher:<\/strong> GB Capital <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/3d95db4f-30ad-4c19-be74-c430dc796d97\">in September<\/a> said it had entered talks with Chimera regarding a potential sale. The GB Auto subsidiary has been <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/607f07dc-39e5-41e8-92e6-e07275e4c2e7\">considering a partial selldown<\/a> of its leasing business for over a year to bring in a strategic partner, during which time the company received proposals from several companies.<\/p>\n<p><strong>This isn\u2019t the first time the two companies have partnered:<\/strong> In November, <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/62633330-583e-48e5-aa0e-388dfee91e7d\">GB Auto sold<\/a><a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/62633330-583e-48e5-aa0e-388dfee91e7d\">Chimera a 7.5% stake<\/a> in Netherlands-based MNT Investments as part of a larger agreement that would see Chimera purchase a 21.7% stake in the tech-enabled lender, which focuses on Egypt\u2019s large unbanked population.<\/p>\n<p><strong>Advisors:<\/strong> Arqaam Capital acted as sell-side advisor to GB Capital, while Matouk Bassiouny & Hennawy acted as legal counsel. Adsero-Ragy Soliman and Partners acted as buy-side counsel to Chimera.<\/p>\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/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-capital\/\">GB Capital<\/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=\"578994\" 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=\"578994\">\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\">M&amp;A WATCH<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2023\/01\/22\/flush-after-exits-b-investments-targets-healthcare-food-sectors\/\">\r\n                            Flush after exits, B Investments targets healthcare, food sectors                        <\/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\/22\/flush-after-exits-b-investments-targets-healthcare-food-sectors\/\" 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 hopes to close an acquisition of a healthcare company in 1Q 2023, while the transaction in the food sector is expected to be completed in 2Q, he is quoted as saying.<\/p>\n<p><strong>Exits are funding the acquisitions:<\/strong> B Investments will reportedly fund the new investments with some of the proceeds of its exit from TotalEnergies Egypt and Giza Systems. The company is <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/c36b7a05-9d2e-4244-bb23-a48d8d0e4880\">selling down its 44.7% stake<\/a> in Giza Systems to a subsidiary of Saudi Telecom (STC) for <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/61603c02-7a34-48d4-8022-abfb1ebce04e\">USD 128 mn<\/a>, and last month <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/33e3757d-a1c9-4ef9-9f8f-76a5f7bee4cf\">agreed<\/a> to offload its 6.4% stake in TotalEnergies Egypt to TotalEnergies Marketing Afique (TEMA) for USD 27.6 mn.<\/p>\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/b-investments\/\">B Investments<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/food\/\">food<\/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                    <\/div>\n    <\/div>\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"578996\" 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=\"578996\">\r\n            \r\n            <div class=\"story__body\">\r\n\r\n                <a href=\"https:\/\/enterpriseam.com\/egypt\/2023\/01\/22\/578996\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-578996\" class=\"content-area-description single-story post-578996 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\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=\"578997\" 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=\"578997\">\r\n            \r\n                <div class=\"issue-story-header text-center\">\r\n                    <div class=\"index-number\">5<\/div>\r\n\r\n                    <p class=\"f-graphik\">Startup watch<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2023\/01\/22\/swvl-hit-with-a-second-nasdaq-delisting-notice-will-unwind-volt-lines-acquisition\/\">\r\n                            Swvl hit with a second Nasdaq delisting notice, will unwind Volt Lines acquisition                        <\/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\/22\/swvl-hit-with-a-second-nasdaq-delisting-notice-will-unwind-volt-lines-acquisition\/\" 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 has until 10 July to raise its market value to more than USD 50 mn for 10 consecutive days or else it will be delisted from the Nasdaq. This would require the company to more than double its current market cap, which as of Friday\u2019s close stood at almost USD 22.9 mn.<\/p>\n<p><strong>This is the <\/strong><strong><a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/762754de-c039-4c7c-b845-6b0bc96eb9c9\">second delisting warning<\/a><\/strong><strong> Swvl has <\/strong><strong>received in recent months<\/strong> following a tough start to life as a public company. The company has traded below USD 1.00 a share since mid-September, triggering a warning from the Nasdaq in November that it would be delisted from the bourse if it failed to bring its shares above USD 1.00 for a 10-day stretch before 1 May.<\/p>\n<p><strong>Swvl\u2019s share price has collapsed by more than 98% since its IPO last <\/strong><strong>April<\/strong> when it was <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/a69885d2-afc6-4a1c-8aef-016b926777d5\">taken public via a SPAC merger<\/a> that originally valued the company at USD 1.5 bn. The company debuted on the tech-heavy exchange at USD 10.00 a share and is currently trading at just USD 0.17.<\/p>\n<p><strong>It\u2019s not just market volatility: <\/strong>Despite solid revenue growth, Swvl\u2019s <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/1d434ef6-458f-4052-b961-ec4449a6e149\">losses doubled<\/a> during the first six months of 2022 due to rising expenses and costs relating to its Nasdaq listing, and in July the company <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/51e97c71-5a8b-463a-9397-53449e0d78a2\">was forecasting<\/a> losses to double to USD 90 mn for the year. The company is yet to publish its 3Q financials.<\/p>\n<p><strong>Swvl<\/strong><strong> is considering all of its options: <\/strong>Swvl <a href=\"https:\/\/investors.swvl.com\/node\/7996\/html\">said<\/a> last month that it had formed a strategic committee \u201cto explore and evaluate potential strategic alternatives.\u201d The company said it was considering \u201ccorporate sale, merger or other business combination, a sale of all or a portion of the company\u2019s assets, strategic investment, new debt or equity financings or other significant transactions.\u201d<\/p>\n<p><strong>Cut costs wherever possible: <\/strong>Swvl was forced into making <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/ffd2a6b9-3154-44b3-b23f-18d802441873\">large-scale layoffs<\/a> last year in a bid to steady the ship. It has reduced headcount <a href=\"https:\/\/www.wamda.com\/2022\/11\/swvl-slashes-50-cent-workforce-shuts-operations-pakistan\">by more than 50%<\/a>, cut back on executive pay and closed some of its less profitable routes. It has also recently shuttered its operations in Pakistan, Pakistani media reported late last year.<\/p>\n<p><strong>Volte face:<\/strong> Swvl will unwind its acquisition of Turkish mobility business <a href=\"https:\/\/www.voltlines.com\/\">Volt Lines<\/a>, which it completed last year, it said in last week\u2019s filing. The former Volt Lines shareholders who traded their shares for Swvl shares \u201care not obligated to retransfer or cancel the tranche of their Swvl shares already received,\u201d the disclosure said. Representatives from Swvl and Volt Lines didn\u2019t respond to requests for comment when we reached out yesterday.<\/p>\n<p><strong>This is the second acquisition to fall through in recent months:<\/strong> Swvl and UK startup Zeelo <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/1244cec5-2c32-46d7-9636-38891e20c962\">called off a planned merger<\/a> in July, citing turmoil in the financial markets.<\/p>\n<p><strong>Swvl went on an acquisition spree last year: <\/strong>The company <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/af5d2162-bf47-45d2-b982-46314e364512\">acquired mobility platform Shotl<\/a>, a Spanish firm that operates in 10 countries including Brazil and Japan. In November 2021 it took a controlling stake in South American <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/9ff7b137-c8e9-4f0f-b7d8-1eccf7e7cf63\">transit company Viapool<\/a> and last year entered Central Europe with its <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/a69885d2-afc6-4a1c-8aef-016b926777d5\">acquisition of German company Door2Door<\/a>.<\/p>\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/nasdaq\/\">Nasdaq<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/ride-hailing\/\">ride-hailing<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/startup-watch\/\">Startup watch<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/swvl\/\">Swvl<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/transport\/\">transport<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/volt-lines\/\">Volt Lines<\/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=\"578999\" 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=\"578999\">\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\/2023\/01\/22\/ex-beltone-execs-launch-sme-finance-outfit-invia\/\">\r\n                            Ex-Beltone execs launch SME finance outfit Invia                        <\/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\/22\/ex-beltone-execs-launch-sme-finance-outfit-invia\/\" 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\/22\/ex-beltone-execs-launch-sme-finance-outfit-invia\/')\">\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\/22\/ex-beltone-execs-launch-sme-finance-outfit-invia\/\">\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=Ex-Beltone execs launch SME finance outfit Invia&url=https:\/\/enterpriseam.com\/egypt\/2023\/01\/22\/ex-beltone-execs-launch-sme-finance-outfit-invia\/\">\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\/22\/ex-beltone-execs-launch-sme-finance-outfit-invia\/&title=Ex-Beltone execs launch SME finance outfit Invia\">\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=Ex-Beltone+execs+launch+SME+finance+outfit+Invia+https%3A%2F%2Fenterpriseam.com%2Fegypt%2F2023%2F01%2F22%2Fex-beltone-execs-launch-sme-finance-outfit-invia%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\/22\/ex-beltone-execs-launch-sme-finance-outfit-invia\/\">\r\n                    <div class=\"photo photo--above\">\r\n                        <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2023\/1\/360.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"579000\" data-permalink=\"https:\/\/enterpriseam.com\/egypt\/2023\/01\/22\/ex-beltone-execs-launch-sme-finance-outfit-invia\/360-jpg-7\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2023\/1\/360.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"360.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2023\/1\/360.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2023\/1\/360.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-578999\" class=\"content-area-description single-story post-578999 post type-post status-publish format-standard has-post-thumbnail hentry category-startup-watch tag-beltone-financial tag-enterpriseam tag-invia tag-non-banking-financial-services tag-smes 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>Former Beltone Financial executives are launching new fintech startup <\/strong><strong><a href=\"https:\/\/inviacap.com\/\">Invia<\/a><\/strong>, which will provide financial services to informal small businesses that have limited access to financing, <a href=\"https:\/\/www.thenationalnews.com\/business\/start-ups\/2023\/01\/19\/former-beltone-executives-launch-egyptian-fintech-start-up-invia\/\">the National<\/a> reports.<\/p>\n<p><strong>Behind the company:<\/strong> Yehia Ashour (<a href=\"https:\/\/www.linkedin.com\/in\/yehia-ashour-70825038\/\">LinkedIn<\/a>), former CEO and co-founder of Beltone\u2019s SME unit; Ahmed Zeinhom (<a href=\"https:\/\/www.linkedin.com\/in\/ahmedzeinhom9\/\">LinkedIn<\/a>), Beltone SME\u2019s former chief investment officer; and Omar Aboulmagd (<a href=\"https:\/\/www.linkedin.com\/in\/omar-aboulmagd-6a7a14bb\/\">LinkedIn<\/a>), Beltone SME\u2019s former investment director.<\/p>\n<p><strong>What they said:<\/strong> \u201cWe want to localize the value chain and develop the companies that will make this country less dependent on imports,\u201d Ashour told the newspaper. \u201cWith the economic conditions in Egypt, specifically, the solution we need is to make the small businesses bigger, and especially the small manufacturing businesses.\u201d<\/p>\n<p><strong>Funding on the way: <\/strong>Invia is currently raising a pre-seed round which the National says will be announced in the coming months.<\/p>\n<p><strong>REMEMBER- Beltone is adjusting to new ownership. <\/strong>Employees at Beltone SME reportedly <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/f40172f6-6b97-41b4-86fe-ec3501799b87\">resigned en masse<\/a> late last year, while top execs departed other branches of Beltone Financial. The company is now recruiting talent at multiple levels after Abu Dhabi-based Chimera brought in a <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/44f91721-ade2-4520-8b3c-37c5c702c338\">new CEO and chairman<\/a> at Beltone Financial and appointed two new non-executive board members. Chimera <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/40303139-6bd0-4c73-a30a-57bb74e74a45\">acquired a 56%<\/a> stake in the company in October, replacing Orascom Financial Holding as Beltone Financial\u2019s controlling shareholder.<\/p>\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/beltone-financial\/\">Beltone Financial<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/invia\/\">Invia<\/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                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/smes\/\">SMEs<\/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=\"579001\" 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=\"579001\">\r\n            \r\n                <div class=\"issue-story-header text-center\">\r\n                    <div class=\"index-number\">7<\/div>\r\n\r\n                    <p class=\"f-graphik\">Moves<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2023\/01\/22\/mih-has-a-new-chairman-md-after-basel-el-hini-steps-down\/\">\r\n                            MIH has a new chairman + MD after Basel El Hini steps down                        <\/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\/22\/mih-has-a-new-chairman-md-after-basel-el-hini-steps-down\/\" 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\/22\/mih-has-a-new-chairman-md-after-basel-el-hini-steps-down\/')\">\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\/22\/mih-has-a-new-chairman-md-after-basel-el-hini-steps-down\/\">\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=MIH has a new chairman + MD after Basel El Hini steps down&url=https:\/\/enterpriseam.com\/egypt\/2023\/01\/22\/mih-has-a-new-chairman-md-after-basel-el-hini-steps-down\/\">\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\/22\/mih-has-a-new-chairman-md-after-basel-el-hini-steps-down\/&title=MIH has a new chairman + MD after Basel El Hini steps down\">\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=MIH+has+a+new+chairman+%2B+MD+after+Basel+El+Hini+steps+down+https%3A%2F%2Fenterpriseam.com%2Fegypt%2F2023%2F01%2F22%2Fmih-has-a-new-chairman-md-after-basel-el-hini-steps-down%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\/22\/mih-has-a-new-chairman-md-after-basel-el-hini-steps-down\/\">\r\n                    <div class=\"photo photo--above\">\r\n                        <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2023\/1\/362.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"579002\" data-permalink=\"https:\/\/enterpriseam.com\/egypt\/2023\/01\/22\/mih-has-a-new-chairman-md-after-basel-el-hini-steps-down\/362-jpg-16\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2023\/1\/362.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"362.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2023\/1\/362.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2023\/1\/362.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-579001\" class=\"content-area-description single-story post-579001 post type-post status-publish format-standard has-post-thumbnail hentry category-moves tag-basel-el-hini tag-enterpriseam tag-financial-services tag-insurance tag-misr-insurance-holding tag-mohamed-mahran tag-moves 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-06\"><\/a> <strong>Mohamed Mahran<\/strong> (<a href=\"https:\/\/www.linkedin.com\/in\/mohamed-mahran-bcom-ctp-au-9865a0a\/\">LinkedIn<\/a>) has been appointed <strong>executive chairman<\/strong> and <strong>managing <\/strong><strong>director<\/strong> of <strong>Misr Ins. Holding<\/strong> (MIH) after Basel El Hini submitted his resignation as MD and non-exec chair of the state-owned company, the Public Enterprises Ministry <a href=\"https:\/\/ent.news\/2023\/1\/New-MIH.pdf\">said (pdf)<\/a> over the weekend. Mahran has some 35 years of experience in the ins. industry and has been the managing director of Allianz Egypt for more than a decade.The ministry also appointed <strong>Assem Ragab<\/strong> (<a href=\"https:\/\/www.linkedin.com\/in\/assem-ragab-b5985770\/\">LinkedIn<\/a>) as the company\u2019s non-executive chairman. Ragab, the Mubarak-era head of GAFI, has been vice chairman of QNB Al Ahli since May 2022.<\/p>\n<p><strong>Kelma Akhira\u2019s Lamees El Hadidy had high praise for El Hini\u2019s accomplishments<\/strong> during his tenure at MIH (<a href=\"https:\/\/www.youtube.com\/watch?v=daJgNGHoa-k\">watch, runtime: 5:08<\/a>). He was <a href=\"https:\/\/enterprise.press\/stories\/2018\/10\/29\/egypts-mihc-appoints-basel-el-hiny-as-chairman-and-md\/\">appointed<\/a> in 2018. Catch our interviews with him <a href=\"https:\/\/enterprise.press\/stories\/2018\/12\/16\/meet-mihc-chairman-basel-el-hini\/\">here<\/a> and <a href=\"https:\/\/enterprise.press\/stories\/2019\/02\/06\/basel-el-hini-chairman-and-managing-director-misr-insurance-holding-company-mihc\/\">here<\/a> \u2014 he\u2019s one of the good guys.<\/p>\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/basel-el-hini\/\">Basel El Hini<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/financial-services\/\">financial services<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/insurance\/\">insurance<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/misr-insurance-holding\/\">Misr Insurance Holding<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/mohamed-mahran\/\">Mohamed Mahran<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/moves\/\">moves<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                    <\/div>\n    <\/div>\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"579003\" 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=\"579003\">\r\n            \r\n            <div class=\"story__body\">\r\n\r\n                <a href=\"https:\/\/enterpriseam.com\/egypt\/2023\/01\/22\/579003\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-579003\" class=\"content-area-description single-story post-579003 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\/2023\/1\/2-SODIC-Polygon-1600px.jpg?ssl=1\" alt=\"enterprise\"><\/a><\/p>\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=\"579004\" 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=\"579004\">\r\n            \r\n                <div class=\"issue-story-header text-center\">\r\n                    <div class=\"index-number\">8<\/div>\r\n\r\n                    <p class=\"f-graphik\">LAST NIGHT\u2019S TALK SHOWS<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2023\/01\/22\/tub-tubs-for-moscows-trade-move\/\">\r\n                            Tub-tubs for Moscow\u2019s trade move                        <\/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\/22\/tub-tubs-for-moscows-trade-move\/\" 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\/22\/tub-tubs-for-moscows-trade-move\/')\">\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\/22\/tub-tubs-for-moscows-trade-move\/\">\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=Tub-tubs for Moscow\u2019s trade move&url=https:\/\/enterpriseam.com\/egypt\/2023\/01\/22\/tub-tubs-for-moscows-trade-move\/\">\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\/22\/tub-tubs-for-moscows-trade-move\/&title=Tub-tubs for Moscow\u2019s trade move\">\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=Tub-tubs+for+Moscow%E2%80%99s+trade+move+https%3A%2F%2Fenterpriseam.com%2Fegypt%2F2023%2F01%2F22%2Ftub-tubs-for-moscows-trade-move%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\/22\/tub-tubs-for-moscows-trade-move\/\">\r\n                    <div class=\"photo photo--above\">\r\n                        <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2023\/1\/364.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"579005\" data-permalink=\"https:\/\/enterpriseam.com\/egypt\/2023\/01\/22\/tub-tubs-for-moscows-trade-move\/364-jpg-14\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2023\/1\/364.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"364.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2023\/1\/364.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2023\/1\/364.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-579004\" class=\"content-area-description single-story post-579004 post type-post status-publish format-standard has-post-thumbnail hentry category-last-nights-talk-shows tag-egp tag-egypt-russia-relations tag-enterpriseam tag-last-nights-talk-shows tag-rub 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 quiet night on the airwaves last night, <\/strong>with the pundits praising the <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/ef757b31-8042-413d-b3df-4fa9b8756ce7\">Bank of Russia\u2019s<\/a><a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/ef757b31-8042-413d-b3df-4fa9b8756ce7\">move last week<\/a> to approve the EGP as a trade currency, as well as the arrival of the first flight to Egypt from China in years.<\/p>\n<p><strong>Moscow\u2019s inclusion of the EGP as a currency of trade will make it easier for us to import from Russia without putting any pressure on our USD reserves<\/strong>, Amr Al Samdouni, secretary-general of the Federation of Egyptian Chamber of Commerce\u2019s international transport and logistics division, told Salet El Tahrir in a phone call (<a href=\"https:\/\/www.youtube.com\/watch?v=jNkCEkjKu4s\">watch, runtime: 7:43.)<\/a> Importers will now be able to open letters of credit in EGP to release shipments coming from Russia, Al Samdouni clarified.<\/p>\n<p><strong>Can we do the same with China?<\/strong> Market watcher Hany Aboul Fotouh was also keen on the agreement, calling for a similar pact with China (<a href=\"https:\/\/www.youtube.com\/watch?v=h1C7eqAaTMs\">watch, runtime: 7:01<\/a>.) This was echoed by Yomn El Hamaky, economics professor at Ain Shams University, who called on the Egyptian and Chinese central banks to agree on mechanisms to activate an already existing agreement that allows for trade in local currencies in a phone call to Al Hadath Al Youm (<a href=\"https:\/\/www.youtube.com\/watch?v=0fnd2vHN18Y\">watch, runtime: 8:31<\/a>.)<\/p>\n<p><strong>Price wars in the tourism sector? <\/strong>A yearslong pricing war between local tourism companies has decreased quality in the sector and spooked potential visitors, Egyptian Tourism Federation member Ali Ghoneim told Al Hadath Al Youm in a phone call (<a href=\"https:\/\/www.youtube.com\/watch?v=mBCaBhfbVpk\">watch, runtime: 9:35<\/a>.) Ghoneim was invited to speak as part of a segment on the return of Chinese tourists to the local market after Beijing lifted strict covid restrictions (more on that in What We\u2019re Tracking Today, above.)<\/p>\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/egp\/\">EGP<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/egypt-russia-relations\/\">Egypt-Russia relations<\/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\/rub\/\">RUB<\/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=\"579006\" class=\"issue-section \">\n<div class=\"issue-section__content\">\n<div class=\"stories\">      \r\n<section id=\"advertiser\" class=\"enterprise-adv issue-section\">\r\n    <div class=\"issue-section__content\" style=\"flex-direction: column;\">\r\n  \r\n                <h4 class=\"wp-block-heading has-text-align-center has-normal-font-size\">\r\n                <span class=\"has-primary-color stk-highlight\">This publication is proudly sponsored by<\/span><\/h4>\r\n                \r\n\r\n                \r\n                <div class=\"wp-block-stackable-carousel alignwide stk-block-carousel stk--is-slide stk--infinite-scroll stk--arrows-justify-space-between stk--arrows-align-center stk-block stk-a38cfb2 sponsor-slider-container mb-0\" data-slides-to-show=\"3\" data-block-id=\"a38cfb2\"><style>.stk-a38cfb2 {--slides-to-show:3 !important;}.stk-a38cfb2 .stk-block-carousel__button{background:#00000099 !important;fill:#FFFFFF !important;border-radius:4px !important;}.stk-a38cfb2 .stk-block-carousel__button svg.ugb-custom-icon :is(g, path, rect, polygon, ellipse){fill:#FFFFFF !important;}<\/style>\r\n                <div class=\"stk-block-carousel__content-wrapper\">\r\n                <div class=\"stk-row stk-inner-blocks stk-block-content stk-block-carousel__slider-wrapper stk-content-align stk-a38cfb2-column alignwide\">\r\n                <div class=\"stk-block-carousel__slider\" role=\"list\" data-autoplay=\"4000\" data-label-slide-of=\"Slide %%d of %%d\">\r\n            <div class=\"wp-block-stackable-column stk-block-column stk-column stk-block stk-46c5f99\" data-v=\"4\" data-block-id=\"46c5f99\"><div class=\"stk-column-wrapper stk-block-column__content stk-container stk-46c5f99-container stk--no-background stk--no-padding\"><div class=\"stk-block-content stk-inner-blocks stk-46c5f99-inner-blocks\">\r\n            <div class=\"issue-sponsor-slide\">\r\n                <img data-recalc-dims=\"1\" decoding=\"async\" draggable=\"false\" src=\"https:\/\/i0.wp.com\/ent.news\/internal\/240922.png?ssl=1\">\r\n                <div class=\"overlay\"><\/div>\r\n                <div class=\"content\">\r\n                    <a draggable=\"false\" href=\"https:\/\/www.hsbc.com.eg\/\" target=\"_blank\" class=\"logo\" rel=\"noopener\">\r\n                        <img decoding=\"async\" draggable=\"false\" src=\"https:\/\/ent.news\/internal\/27489.svg\" alt=\"\">\r\n                    <\/a>\r\n                    <span>Opening up a world of opportunity<\/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-gedulfr\" data-v=\"4\" data-block-id=\"gedulfr\"><div class=\"stk-column-wrapper stk-block-column__content stk-container stk-gedulfr-container stk--no-background stk--no-padding\"><div class=\"stk-block-content stk-inner-blocks stk-gedulfr-inner-blocks\">\r\n            <div class=\"issue-sponsor-slide\">\r\n                <img data-recalc-dims=\"1\" decoding=\"async\" draggable=\"false\" src=\"https:\/\/i0.wp.com\/ent.news\/internal\/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-jkeamyv\" data-v=\"4\" data-block-id=\"jkeamyv\"><div class=\"stk-column-wrapper stk-block-column__content stk-container stk-jkeamyv-container stk--no-background stk--no-padding\"><div class=\"stk-block-content stk-inner-blocks stk-jkeamyv-inner-blocks\">\r\n            <div class=\"issue-sponsor-slide\">\r\n                <img data-recalc-dims=\"1\" decoding=\"async\" draggable=\"false\" src=\"https:\/\/i0.wp.com\/ent.news\/internal\/240924.png?ssl=1\">\r\n                <div class=\"overlay\"><\/div>\r\n                <div class=\"content\">\r\n                    <a draggable=\"false\" href=\"https:\/\/www.sodic.com\/\" target=\"_blank\" class=\"logo\" rel=\"noopener\">\r\n                        <img decoding=\"async\" draggable=\"false\" src=\"https:\/\/ent.news\/internal\/27487.svg\" alt=\"\">\r\n                    <\/a>\r\n                    <span>Live 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-0xzdgjs\" data-v=\"4\" data-block-id=\"0xzdgjs\"><div class=\"stk-column-wrapper stk-block-column__content stk-container stk-0xzdgjs-container stk--no-background stk--no-padding\"><div class=\"stk-block-content stk-inner-blocks stk-0xzdgjs-inner-blocks\">\r\n            <div class=\"issue-sponsor-slide\">\r\n                <img data-recalc-dims=\"1\" decoding=\"async\" draggable=\"false\" src=\"https:\/\/i0.wp.com\/ent.news\/internal\/240925.png?ssl=1\">\r\n                <div class=\"overlay\"><\/div>\r\n                <div class=\"content\">\r\n                    <a draggable=\"false\" href=\"https:\/\/weareinfinity.com\/\" target=\"_blank\" class=\"logo\" rel=\"noopener\">\r\n                        <img decoding=\"async\" draggable=\"false\" src=\"https:\/\/i0.wp.com\/ent.news\/internal\/27483.png?fit=300%2C300&#038;ssl=1\" alt=\"\">\r\n                    <\/a>\r\n                    <span>Powering with nature<\/span>\r\n                <\/div>\r\n            <\/div>\r\n            <\/div><\/div><\/div>\r\n        \r\n            <div class=\"wp-block-stackable-column stk-block-column stk-column stk-block stk-ovep93f\" data-v=\"4\" data-block-id=\"ovep93f\"><div class=\"stk-column-wrapper stk-block-column__content stk-container stk-ovep93f-container stk--no-background stk--no-padding\"><div class=\"stk-block-content stk-inner-blocks stk-ovep93f-inner-blocks\">\r\n            <div class=\"issue-sponsor-slide\">\r\n                <img data-recalc-dims=\"1\" decoding=\"async\" draggable=\"false\" src=\"https:\/\/i0.wp.com\/ent.news\/internal\/240926.jpg?ssl=1\">\r\n                <div class=\"overlay\"><\/div>\r\n                <div class=\"content\">\r\n                    <a draggable=\"false\" href=\"https:\/\/www.qalaaholdings.com\/\" target=\"_blank\" class=\"logo\" rel=\"noopener\">\r\n                        <img decoding=\"async\" draggable=\"false\" src=\"https:\/\/ent.news\/internal\/110691.svg\" alt=\"\">\r\n                    <\/a>\r\n                    <span>Driving growth<\/span>\r\n                <\/div>\r\n            <\/div>\r\n            <\/div><\/div><\/div>\r\n        <\/div><div class=\"stk-block-carousel__buttons\"><button class=\"stk-block-carousel__button stk-block-carousel__button__prev\" aria-label=\"Previous slide\"><svg aria-hidden=\"true\" focusable=\"false\" data-prefix=\"fas\" data-icon=\"chevron-left\" class=\"svg-inline--fa fa-chevron-left\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" viewBox=\"0 0 320 512\" width=\"32\" height=\"32\"><path d=\"M34.52 239.03L228.87 44.69c9.37-9.37 24.57-9.37 33.94 0l22.67 22.67c9.36 9.36 9.37 24.52.04 33.9L131.49 256l154.02 154.75c9.34 9.38 9.32 24.54-.04 33.9l-22.67 22.67c-9.37 9.37-24.57 9.37-33.94 0L34.52 272.97c-9.37-9.37-9.37-24.57 0-33.94z\"><\/path><\/svg><\/button><button class=\"stk-block-carousel__button stk-block-carousel__button__next\" aria-label=\"Next slide\"><svg aria-hidden=\"true\" focusable=\"false\" data-prefix=\"fas\" data-icon=\"chevron-right\" class=\"svg-inline--fa fa-chevron-right\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" viewBox=\"0 0 320 512\" width=\"32\" height=\"32\"><path d=\"M285.476 272.971L91.132 467.314c-9.373 9.373-24.569 9.373-33.941 0l-22.667-22.667c-9.357-9.357-9.375-24.522-.04-33.901L188.505 256 34.484 101.255c-9.335-9.379-9.317-24.544.04-33.901l22.667-22.667c9.373-9.373 24.569-9.373 33.941 0L285.475 239.03c9.373 9.372 9.373 24.568.001 33.941z\"><\/path><\/svg><\/button><\/div><\/div><div class=\"stk-block-carousel__dots\" role=\"list\" data-label=\"Slide %%d\"><\/div><\/div><\/div>\r\n        <\/div>\r\n<\/section> \r\n\r\n\n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"579007\" 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=\"579007\">\r\n            \r\n                <div class=\"issue-story-header text-center\">\r\n                    <div class=\"index-number\">9<\/div>\r\n\r\n                    <p class=\"f-graphik\">EGYPT IN THE NEWS<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2023\/01\/22\/juhayna-founder-son-released-from-prison\/\">\r\n                            Juhayna founder + son released from prison                        <\/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\/22\/juhayna-founder-son-released-from-prison\/\" 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\/22\/juhayna-founder-son-released-from-prison\/')\">\n                    Copy Link                <\/a>\n\n            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                   <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-579007\" class=\"content-area-description single-story post-579007 post type-post status-publish format-standard has-post-thumbnail hentry category-egypt-in-the-news tag-archaeology tag-economy tag-enterpriseam tag-inflation tag-juhayna tag-safwan-thabet tag-seif-thabet 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>Juhayna founding family released from prison: <\/strong><a href=\"https:\/\/www.reuters.com\/article\/idUSC6N32V001\">Reuters<\/a> is reporting that the founder and former CEO of dairy foods giant Juhayna, Safwan Thabet, and his son Seif Thabet (who has long been active in the business and was CEO after his father\u2019s arrest) have been released from prison. Safwan\u2019s daughter Mariam Thabet also announced their release yesterday in a <a href=\"https:\/\/twitter.com\/mariamthabet\/status\/1616861005912350720?s=20&t=1SN43vb9dA74WTZ29vNRhg\">tweet<\/a>. Safwan and Seif were detained within months of each other <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/692e0dbb-bdc8-40ba-9fba-fb2926de93e9\">in late 2020<\/a> and <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/97cd926c-9da0-496b-b89d-f3d1474c7a2c\">early 2021<\/a> after being accused of joining and funding a terror organization. The family has consistently denied any wrongdoing. No official statement has yet been issued regarding the Thabets\u2019 release and a prison source reportedly told Reuters that their case has not yet been closed.<\/p>\n<p><strong>Our economic crisis is getting yet more ink:<\/strong> Several outlets are out with new pieces on the economic crisis spurred by accelerating inflation and a currency crunch. <a href=\"https:\/\/www.reuters.com\/world\/middle-east\/egypts-soaring-prices-drive-home-economic-pain-2023-01-19\/\">Reuters<\/a> looks at the impact of soaring prices on the public and the growing demand for charities, while Haaretz is running two pieces (<a href=\"https:\/\/www.haaretz.com\/middle-east-news\/2023-01-20\/ty-article\/.premium\/egypt-is-scrabbling-for-dollars-and-fears-that-netanyahu-will-set-its-streets-ablaze\/00000185-cf28-d3a8-a3cf-cf38f7380000\">here<\/a> and <a href=\"https:\/\/www.haaretz.com\/middle-east-news\/2023-01-19\/ty-article\/.premium\/egypt-and-jordan-grapple-with-fallout-from-the-war-in-ukraine\/00000185-c9ae-dbd2-afe5-dffe44ea0000\">here<\/a>).<\/p>\n<p><strong>Also making headlines: <\/strong><\/p>\n<ul>\n<li><strong>Salut, Ramses II<\/strong>: The sarcophagus of Ramses II will travel to the US, France and Australia as part of a five-month exhibition that starts in April. This will be the first time in 50 years that the artifact has gone on display in Paris. (<a href=\"https:\/\/www.thenationalnews.com\/mena\/2023\/01\/19\/egypts-ramses-ii-sarcophagus-in-paris-for-first-time-in-50-years\/\">The National<\/a>)<\/li>\n<li><strong>The <\/strong><strong><a href=\"https:\/\/www.washingtonpost.com\/books\/2023\/01\/19\/shubeik-lubeik-deena-mohamed-review\/\">Washington Post<\/a><\/strong><strong> is <\/strong><strong><a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/0a1d3d93-5cf7-439d-bcdb-6948e7764572\">the latest<\/a><\/strong><strong> to review <\/strong><strong>awardwinning<\/strong><strong> graphic novel <\/strong><strong><a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/a9c5d8e6-2c7e-4657-815c-bdaf162c9651\">Shubeik Lubeik<\/a><\/strong> by Egyptian author Deena Mohamed.<\/li>\n<\/ul>\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\/archaeology\/\">archaeology<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/economy\/\">economy<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/inflation\/\">inflation<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/juhayna\/\">Juhayna<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/safwan-thabet\/\">Safwan Thabet<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/seif-thabet\/\">Seif Thabet<\/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=\"579009\" class=\"issue-section \">\n<div class=\"issue-section__content\">\n<div class=\"stories\">    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"579010\" 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=\"579010\">\r\n            \r\n                <div class=\"issue-story-header text-center\">\r\n                    <div class=\"index-number\">10<\/div>\r\n\r\n                    <p class=\"f-graphik\">Also on our Radar<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2023\/01\/22\/forbes-international-tower-coming-to-a-new-administrative-capital-near-you\/\">\r\n                            Forbes International Tower: Coming to a new administrative capital near you                        <\/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\/22\/forbes-international-tower-coming-to-a-new-administrative-capital-near-you\/\" target=\"_blank\">\n                    Open in new tab                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/new-tab.svg\" 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src=\"https:\/\/i0.wp.com\/ent.news\/2023\/1\/368.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"579011\" data-permalink=\"https:\/\/enterpriseam.com\/egypt\/2023\/01\/22\/forbes-international-tower-coming-to-a-new-administrative-capital-near-you\/368-jpg-9\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2023\/1\/368.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"368.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2023\/1\/368.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2023\/1\/368.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-579010\" class=\"content-area-description single-story post-579010 post type-post status-publish format-standard has-post-thumbnail hentry category-also-on-our-radar tag-also-on-our-radar tag-commodities tag-customs tag-debt tag-egyptian-bar-association tag-enterpriseam tag-forbes tag-gasc tag-law tag-nafeza tag-national-bank-of-egypt tag-new-administrative-capital tag-rawabi-holding tag-real-estate wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<aside>\t\t\t<div\r\n\t\t\t\t\t\t\t\tclass=\"newspack-popup-container newspack-popup hidden  newspack-inline-popup  newspack-lightbox-no-border   \"\r\n\t\t\t\trole=\"button\"\r\n\t\t\t\ttabindex=\"0\"\r\n\t\t\t\tstyle=\"background-color:#FFFFFF;color:#000\"\r\n\t\t\t\tid=\"id_408146\"\r\n\t\t\t\tdata-segments=\"\"\r\n\t\t\t\tdata-frequency=\"0,0,0,month\"\r\n\t\t\t>\r\n\t\t\t\t\n<div class=\"wp-block-group has-light-gray-background-color has-background\" style=\"padding-top:0px;padding-right:0px;padding-bottom:0px;padding-left:0px\"><div class=\"wp-block-group__inner-container is-layout-constrained wp-container-core-group-is-layout-ef38739e wp-block-group-is-layout-constrained\">\n<div class=\"wp-block-group is-content-justification-center is-nowrap is-layout-flex wp-container-core-group-is-layout-94bc23d7 wp-block-group-is-layout-flex\"><div class=\"wp-block-image\">\n<figure class=\"aligncenter size-full\"><img decoding=\"async\" src=\"https:\/\/ent.news\/internal\/408144.svg\" alt=\"\" class=\"wp-image-408144\"\/><\/figure>\n<\/div><\/div>\n<\/div><\/div>\n\t\t\t<\/div>\r\n\t\t<\/aside>\n<p><strong>REAL ESTATE-<\/strong><\/p><p><a class=\"content-anchor\" id=\"tldr-story-10\"><\/a> <strong>Magnom + Forbes to build tower in new capital:<\/strong> Magnom Properties, a unit of Saudi Arabia\u2019s Rawabi Holding, signed a MoU with business magazine Forbes to build the zero-carbon Forbes International Tower in the new capital, Magnom said in <a href=\"https:\/\/ent.news\/2023\/1\/Magnom-Forbes-Tower-PR-Eng-FINAL-20-Jan-23.pdf\">a statement (pdf)<\/a>. The agreement was signed on the sidelines of the World Economic Forum in Davos last week.<\/p><p><strong>COMMODITIES-<\/strong><\/p><p><strong>Offers roll in for GASC\u2019s first corn tender:<\/strong> The lowest offer in our <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/991426a8-1f58-441f-8d4e-4e5e151fdfb5\">first international<\/a><a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/991426a8-1f58-441f-8d4e-4e5e151fdfb5\">corn<\/a><a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/991426a8-1f58-441f-8d4e-4e5e151fdfb5\">tender<\/a> was USD 336 per ton for 30k tons of Ukrainian corn on a cost and freight basis (C&amp;F), traders said Thursday, <a href=\"https:\/\/www.reuters.com\/article\/idUSKBN2TY0W9\">Reuters<\/a> reports. Suppliers offering corn from Argentina, Brazil, Romania, and the US also bid in the tender, which sought offers on a C&amp;F or cost, ins. and freight (CIF) basis. The shipment will be delivered between 10-25 February. The International Islamic Trade Finance Corporation will finance the purchase and the corn will be used for feed.<\/p><p><strong>CUSTOMS-<\/strong><\/p><p><strong>No more long trips on ACID: <\/strong>The Finance Ministry has decided to stop granting importers extensions on the validity of their <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/e9e2f68a-8c99-4750-b736-cbcdd6f65839\">ACID numbers<\/a>, a unique ID number that importers obtain through the digital Nafeza customs window at least 48 hours before their goods are shipped, according to <a href=\"https:\/\/bit.ly\/3kwAs0t\">Al Mal<\/a>. ACIDs are usually valid for a six-month period and are sometimes extended for an additional six months.<\/p><p><strong>DEBT-<\/strong><\/p><p><strong>NBE to finance Magic Land redevelopment:<\/strong> The National Bank of Egypt will finance two-thirds of Magic Land Al Hokair\u2019s EGP 1.1 bn redevelopment of Magic Land, it said in <a href=\"https:\/\/ent.news\/2023\/1\/Magic-Land-Al-Hokair-the-NBE.pdf\">a statement (pdf)<\/a> last week. The state-owned bank agreed to lend the Al Hokair Group subsidiary EGP 723.5 mn over seven years for the project.<\/p><p><strong>LAW-<\/strong><\/p><p><strong>Lawyers strike in protest at colleagues' imprisonment: <\/strong>The Egyptian Bar Association <a href=\"https:\/\/web.facebook.com\/EgyLS1912\/posts\/pfbid0FDx7mSjqaLBGPsEnSVrGpQQwtzmuUUVRcu8akvhLJb1ruH4DXfEwdMsuP8v97HfQl\">announced<\/a> an indefinite strike starting last Thursday in protest at the imprisonment of six colleagues last week, the association said in a <a href=\"https:\/\/web.facebook.com\/EgyLS1912\/posts\/pfbid0FDx7mSjqaLBGPsEnSVrGpQQwtzmuUUVRcu8akvhLJb1ruH4DXfEwdMsuP8v97HfQl\">statement<\/a>. Last week, the Marsa Matrouh criminal court sentenced six lawyers to two years in prison after they clashed with court clerks, <a href=\"https:\/\/bit.ly\/3H0uzQu\">Masrawy<\/a> reported. The news got attention from <a href=\"https:\/\/www.africanews.com\/2023\/01\/19\/egypt-lawyers-strike-to-protest-the-imprisonment-of-six-colleagues\/\">AFP<\/a>.<\/p>\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\/commodities\/\">commodities<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/customs\/\">customs<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/debt\/\">debt<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/egyptian-bar-association\/\">Egyptian Bar Association<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/forbes\/\">Forbes<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/gasc\/\">GASC<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/law\/\">law<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/nafeza\/\">Nafeza<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/national-bank-of-egypt\/\">National Bank of Egypt<\/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\/rawabi-holding\/\">Rawabi Holding<\/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                    <\/div>\n    <\/div>\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"579016\" 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\/22\/579016\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-579016\" class=\"content-area-description single-story post-579016 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: 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>25 January (Wednesday): 25 January revolution anniversary \/ Police Day.<\/p>\n<p>26 January-6 February (Thursday-Monday): Cairo International Book Fair, Egypt International Exhibition Center.<\/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>31 January (Tuesday): The IMF will release its World Economic Outlook Update.<\/p>\n<p><strong>FEBRUARY<\/strong><\/p>\n<p>1 February (Wednesday): Capricorn Energy will hold a vote on its merger with Israel\u2019s NewMed.<\/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>April: GAFI<a href=\"https:\/\/www.alborsaanews.com\/2023\/01\/20\/1623257\">to launch<\/a> the country\u2019s first integrated electronic platform to facilitate setting up a business.<\/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>16 April (Sunday): Coptic Easter<\/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>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\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":578986,"menu_order":0,"template":"","categories":[],"tags":[],"class_list":["post-578985","issue","type-issue","status-publish","has-post-thumbnail","hentry","wpautop","entry"],"acf":{"mongo_id":"1ff40669-924e-461b-b4f8-e97857139eb2","teaser":"","photo_url":"https:\/\/ent.news\/2023\/1\/351.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>Foreign investors eye Egyptian debt amid higher yields, weaker EGP - 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\/foreign-investors-eye-egyptian-debt-amid-higher-yields-weaker-egp\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" 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