{"id":581381,"date":"2023-02-09T00:00:00","date_gmt":"2023-02-09T00:00:00","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/?post_type=issue&#038;p=581381"},"modified":"2025-12-16T12:48:34","modified_gmt":"2025-12-16T12:48:34","slug":"privatization-program-2-0-govt-to-sell-stakes-in-32-companies-by-1q-2024","status":"publish","type":"issue","link":"https:\/\/enterpriseam.com\/egypt\/issues\/privatization-program-2-0-govt-to-sell-stakes-in-32-companies-by-1q-2024\/","title":{"rendered":"Privatization program 2.0: Gov\u2019t to sell stakes in 32 companies by 1Q 2024"},"content":{"rendered":"<section id=\"581383\" 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=\"581383\">\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\/02\/09\/this-morning-we-should-be-getting-januarys-inflation-figures-today-google-just-botched-the-launch-of-its-rival-to-chatgpt\/\">\r\n                            We should be getting January\u2019s inflation figures today + Google just botched the launch of its rival to ChatGPT                        <\/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 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\n<article id=\"post-581383\" class=\"content-area-description single-story post-581383 post type-post status-publish format-standard has-post-thumbnail hentry category-what-were-tracking-today tag-ai tag-chatgpt tag-economy tag-electricity tag-enterpriseam tag-google tag-inflation tag-subsidies 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<figure class=\"wp-block-audio mb-0\"><audio controls preload=\"metadata\" src=\"https:\/\/s3.us-east-1.amazonaws.com\/ent.news\/audio\/2023\/2\/.b132ee6b-5552-4487-9335-84a9d3d19b0c.mp3\"><\/audio><\/figure><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:400;\"><\/span><\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:400;\"><\/span><\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:400;\"><\/span><\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:400;\"><\/span><\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:700\">Good morning, ladies and gents:<\/span><span style=\"\"> We have another big issue to close out the week following <\/span><span style=\"font-weight:400;\">yesterday\u2019s presser from the PM on how the state plans to go about rebooting its privatization program. <\/span><\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:700;\">tl;dr:<\/span><\/p><ul>\n<li><span style=\"font-weight:700\">It\u2019s big: <\/span><span style=\"font-weight:400;\">The government now plans to sell shares in 32 companies, 12 more than Madbouly had signaled a week ago. <\/span><\/li>\n<li><span style=\"font-weight:700\">There are plenty of new names:<\/span><span style=\"font-weight:400;\"> Kudos to any of our readers who correctly predicted that Sinai Manganese Company and Salhi Investment and Development Company would feature on the list. <\/span><\/li>\n<li><span style=\"font-weight:700\">And some notable absences:<\/span><span style=\"font-weight:400;\"> Alexbank, eMethanex and Enppi \u2014 recently flagged by the EGX for inclusion \u2014 were all MIA.<\/span><\/li>\n<li><span style=\"font-weight:700\">Some of our questions were answered, but others were not:<\/span><span style=\"font-weight:400;\"> We\u2019re still waiting for clarity on how the government plans to go about the sales for these companies \u2014 whether via strategic sale, a public offering or a combination of the two. The show is supposed to get on the road this quarter so we should expect to hear more details soon.<\/span><\/li>\n<\/ul><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:700;\">^^ We have full coverage of the PM\u2019s presser in this morning\u2019s news well, below.<\/span><\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:400;\"><\/span><\/p><hr style=\"height:2px;border-width:0;color:gray;background-color:gray\"><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"\"> <\/span><span style=\"font-weight:700\">Electricity prices could change on a quarterly or semi-annual basis: <\/span><span style=\"\">The Madbouly <\/span><span style=\"\">government is <\/span><span>looking into adjusting electricity prices every three or six months in response to the devaluation of the EGP and rising gas and diesel prices, <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/www.asharqbusiness.com\/article\/46898\/%D8%A5%D8%B3%D9%88%D8%A9%D9%8B-%D8%A8%D8%A7%D9%84%D9%88%D9%82%D9%88%D8%AF-%D9%85%D8%B5%D8%B1-%D8%AA%D8%AF%D8%B1%D8%B3-%D8%AA%D8%AD%D8%AF%D9%8A%D8%AF-%D8%A3%D8%B3%D8%B9%D8%A7%D8%B1-%D8%A7%D9%84%D9%83%D9%87%D8%B1%D8%A8%D8%A7%D8%A1-%D9%83%D9%84-3-%D8%A3%D9%88-6-%D8%A3%D8%B4%D9%87%D8%B1\/\" style=\"\">Asharq Business<\/a><\/span><span style=\"font-weight:400;\"> reports, citing unnamed government sources. The proposal is modeled after the fuel pricing committee, which reviews fuel prices every quarter. <\/span><\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:700\">REMEMBER #1- Household electricity bills are set to rise come the summer. <\/span><span style=\"\">The current <\/span><span>freeze on household electricity prices is set to expire at the end of the fiscal year in June \u2014 and economic conditions mean the government will have \u201cno choice but to increase prices in July,\u201d Asharq quotes its sources as saying. Residential electricity bills <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/enterprise.press\/stories\/2022\/06\/16\/no-electricity-price-hike-before-2023-73877\/\" style=\"\">had been set to rise<\/a><\/span><span> by as much as 21% last year under government plans to restructure pricing and <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/enterprise.press\/stories\/2022\/04\/26\/electricity-subsidies-live-on-70049\/\" style=\"\">phase out electricity subsidies<\/a><\/span><span style=\"font-weight:400;\"> by 2025. Households in the highest consumption tiers \u2014 which as of 2021 have not received subsidies \u2014 would have seen prices rise by up to 6%.<\/span><\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:700\">REMEMBER #2- We\u2019re still waiting to hear what the government plans to do with fuel <\/span><span style=\"font-weight:700\">prices this quarter.<\/span><span> Its fuel pricing committee was supposed to meet at the beginning of January to set prices for 1Q. The government has increased prices at the pump by <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/enterprise.press\/stories\/2022\/10\/23\/no-quarterly-fuel-price-hike-for-the-first-time-in-18-months-84733\/\" style=\"\">23-28%<\/a><\/span><span style=\"font-weight:400;\"> since April 2021, and decided on a rare fuel oil price hike last July.<\/span><\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:700\">EGP WATCH-<\/span><span style=\"\"> The USD gained another 0.2% against the EGP yesterday to close at<\/span><span style=\"\"> 30.42, <\/span><span style=\"font-weight:400;\">according to central bank figures. The currency hit the 30 mark at the end of January following a sharp devaluation that helped bring fresh foreign inflows and alleviate an FX shortage. The EGP has lost almost half of its value against the greenback over the past year.<\/span><\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:700\">WHAT\u2019S HAPPENING TODAY-<\/span><\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:700\">Inflation:<\/span><span style=\"\"> The CBE and Capmas are expected to publish inflation data for January on Thursday. <\/span><span>The median projection in a <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/www.reuters.com\/markets\/poll-egyptian-inflation-5-year-high-seen-accelerating-january-2023-02-07\/\" style=\"\">Reuters poll<\/a><\/span><span> of analysts is 23.75%, up from <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/enterprise.press\/stories\/2023\/01\/11\/inflation-hits-new-high-on-weaker-egp-93299\/#:~:text=Figures%20released%20yesterday%20by%20state,just%205.9%25%20in%20December%202021.\" style=\"\">21.3%<\/a><\/span><span style=\"font-weight:400;\"> in December. This would be the highest rate since November 2018.<\/span><\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:700\">Hamas + Islamic Jihad in Cairo:<\/span><span style=\"\"> Egypt is currently hosting senior officials from <\/span><span>Palestine\u2019s Hamas and Islamic Jihad in an effort to de-escalate violence between Israelis and Palestinians in the West Bank and Jerusalem, <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/www.thenationalnews.com\/mena\/2023\/02\/08\/palestinian-hamas-and-islamic-jihad-leaders-in-egypt\/\" style=\"\">the National<\/a><\/span><span>reported yesterday, citing Egyptian security officials. Islamic Jihad representatives and Hamas leaders in Gaza have been in Cairo for several days, while its exiled leadership will join later this week. Hamas <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/www.jpost.com\/middle-east\/article-730586\" style=\"\">said recently<\/a><\/span><span style=\"font-weight:400;\"> that its leader, Ismail Haniyeh, will fly from Qatar this week to hold talks with Egyptian intelligence chief Abbas Kamel and other security officials.<\/span><\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:700;\">NEXT WEEK-<\/span><\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:700\">President Abdel Fattah El Sisi will be in Dubai <\/span><span style=\"\">to attend the <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/www.worldgovernmentsummit.org\/events\/world-government-summit-2023\" style=\"\">World Government Summit<\/a><\/span><span style=\"\">, <\/span><span>which runs 13-15 February. Twenty heads of state will be in town for the Davos-like gathering, which will see policymakers from around the world discuss global trends, according to Emirati state news agency <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/wam.ae\/en\/details\/1395303125158\" style=\"\">WAM<\/a><\/span><span style=\"font-weight:400;\">.<\/span><\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:700\">Petro-show next week:<\/span><span style=\"\"> Oil and gas industry figures from Egypt and the region will congregate <\/span><span>at the Egypt International Exhibition Center for the <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/www.egyps.com\/\" style=\"\">Egypt Petroleum Show (Egyps)<\/a><\/span><span style=\"font-weight:400;\"> starting next Monday. The three-day conference runs 13-15 February.<\/span><\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:700\">MPs are back next week: <\/span><span style=\"font-weight:400;\">The House will reconvene on Sunday, 12 February.<\/span><\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:700;\">THE BIG STORIES ABROAD- <\/span><\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:700;\">There are three stories dominating the global front pages this morning:<\/span><\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:700\"> #1 Turkey-Syria quake:<\/span><span style=\"\"> The death toll from Monday\u2019s devastating earthquake in Turkey and <\/span><span>Syria has risen beyond 12k as public anger grows about the Turkish government\u2019s slow response to the crisis. (<\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/apnews.com\/article\/earthquake-syria-aleppo-5dd29e129a81ed96e9e24bdabe3a4a9d?utm_source=homepage&amp;utm_medium=TopNews&amp;utm_campaign=position_01\" style=\"\">AP<\/a><\/span><span> | <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/www.reuters.com\/world\/middle-east\/death-toll-syria-turkey-quake-rises-more-than-8700-2023-02-08\/\" style=\"\">Reuters<\/a><\/span><span> | <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/www.bloomberg.com\/news\/articles\/2023-02-08\/quake-latest-turkish-army-in-rescue-operations-oil-flows-begin?srnd=premium-middle-east\" style=\"\">Bloomberg<\/a><\/span><span> | <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/www.washingtonpost.com\/world\/interactive\/2023\/turkey-syria-before-after-video-photo\/\" style=\"\">Washington Post<\/a><\/span><span> | <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/www.nytimes.com\/2023\/02\/08\/world\/middleeast\/turkey-syria-quake.html\" style=\"\">NYT<\/a><\/span><span> | <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/www.wsj.com\/articles\/under-turkeys-earthquake-wreckage-voices-go-silent-11675900713\" style=\"\">WSJ<\/a><\/span><span>)<\/span><\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:700\"> #2 Somewhere Satya Nadella is laughing:<\/span><span style=\"\"> Shares in Google parent Alphabet plunged almost <\/span><span>8% yesterday after the company appeared to botch the unveiling of its AI chatbot it hopes to rival Microsoft\u2019s powerful ChatGPT. In a presentation yesterday, the company\u2019s Bard engine made a factual error, triggering a sell-off among investors concerned that the company is losing ground to its main rival. This came a day after Microsoft announced the launch of a new version of its Bing search engine and Edge web browser, which will integrate the company\u2019s powerful ChatGPT AI tech which threatens to overturn Google\u2019s search engine dominance. (<\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/www.reuters.com\/technology\/google-ai-chatbot-bard-offers-inaccurate-information-company-ad-2023-02-08\/\" style=\"\">Reuters<\/a><\/span><span> | <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/www.wsj.com\/articles\/google-to-roll-out-ai-search-features-as-microsoft-rivalry-heats-up-11675835792\" style=\"\">WSJ<\/a><\/span><span> | <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/www.ft.com\/content\/2fe6163b-b4c3-413e-b595-8110e328b42d?amp\" style=\"\">Financial Times<\/a><\/span><span> | <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/www.cnbc.com\/2023\/02\/08\/alphabet-shares-slip-following-googles-ai-event-.html\" style=\"\">CNBC<\/a><\/span><span>)<\/span><\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:700\"> #3 A slimmer Mickey:<\/span><span style=\"\"> Disney plans to slash 7k jobs and cut USD 5.5 bn in costs as part of a <\/span><span>company restructure being undertaken by the recently reinstated CEO, Bob Iger. (<\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/www.reuters.com\/business\/disney-earnings-beat-estimates-visitors-crowd-theme-parks-2023-02-08\/\" style=\"\">Reuters<\/a><\/span><span> | <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/www.ft.com\/content\/9582b629-45c5-4d65-aa7d-d1a2ac6e8240\" style=\"\">Financial Times<\/a><\/span><span> | <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/www.wsj.com\/articles\/disney-dis-q1-earnings-report-2023-11675825320\" style=\"\">WSJ<\/a><\/span><span> | <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/www.cnbc.com\/2023\/02\/08\/disney-reorganization.html\" style=\"\">CNBC<\/a><\/span><span style=\"font-weight:400;\">)<\/span><\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:700;\"><\/span><\/p><hr style=\"height:2px;border-width:0;color:gray;background-color:gray\"><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span> <\/span><span style=\"font-weight:700\">IT\u2019S YOUR LAST CHANCE TO <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;font-weight:700;\"><a href=\"https:\/\/www.surveymonkey.com\/r\/FMGPJ3G\" style=\"\">TAKE OUR JANUARY ENTERPRISE READER SURVEY<\/a><\/span><span style=\"font-weight:700\"> and get a chance to break bread with us:<\/span><span style=\"font-weight:400;\"> Give us your thoughts on how 2022 panned out for your business and industry, and what you\u2019re expecting in the year ahead in our Enterprise Reader Survey.<\/span><\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:700\">You can <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;font-weight:700;\"><a href=\"https:\/\/www.surveymonkey.com\/r\/FMGPJ3G\" style=\"\">take the Reader Survey here<\/a><\/span><span style=\"font-weight:400;\"> \u2014 it won\u2019t take more than a few minutes to complete.<\/span><\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:700\">Want to have a meal with us?<\/span><span style=\"font-weight:400;\"> Leave your name, email, mobile number, and where you work in the box for \u201cIs there anything else you want to tell us.\u201d We\u2019ll be inviting eight participating readers to a meal at one of our favorite restaurants. <\/span><\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:700\">THE SURVEY CLOSES <\/span><span style=\"font-weight:700\">TODAY<\/span><span style=\"font-weight:700\"> <\/span><span>\u2014 so jump in now if you want to have a meal with us.<\/span><\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:400;\"><\/span><\/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 style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:700\">Real Madrid was always going to be tough:<\/span><span style=\"\"> Al Ahly\u2019s dream of reaching their first Club World <\/span><span style=\"font-weight:400;\">Cup final came to an end last night after they were handily beaten 4-1 by Real Madrid in Morocco. The Spanish and European champions proved too much for the Egyptian side, who held out until just before halftime when Brazilian winger Vinicious Jr. put Los Blancos 1-0 up. A second goal immediately in the second half made the task that much harder, and though a 62nd minute penalty gave the Red Devils hope, a quick-fire double in injury time sealed victory for the Spaniards.<\/span><\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:700\">Al Ahly will now play Brazilian champions Flamengo on Saturday<\/span><span style=\"\"> at 5:30 pm local time for <\/span><span style=\"font-weight:400;\">the bronze medal.<\/span><\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:700\">The Spaniards will now face Saudi\u2019s Al Hilal in the final on Saturday<\/span><span style=\"\"> at 9:00 pm. The Saudi <\/span><span style=\"font-weight:400;\">side shocked Flamengo with a 3-2 win in the other semi. <\/span><\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:700;\">COME TO OUR NEXT ENTERPRISE FORUM- <\/span><\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:400;\"><img data-recalc-dims=\"1\" decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2023\/2\/Export-FDI-Forum_1600.jpg?ssl=1\"><\/span><\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:700\">We\u2019re excited to unveil our next C-level event: <\/span><span style=\"font-weight:400;\">The Enterprise Exports &amp; FDI Forum, where we will take a deep dive into two of the most critical topics affecting our community.<\/span><\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:700\">Exports and foreign direct investment (FDI) have never been more important to our economy<\/span><span> \u2014 or our businesses \u2014 than in the wake of the float of the EGP. <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/enterprise.press\/issues\/2022\/10\/18\/am-a-five-step-recipe-to-boost-exports-fdi-and-make-sure-egypt-never-has-to-ask-the-imf-for-another-cent\/\" style=\"\">We think we have a once-in-a-lifetime chance to build an export-led economy<\/a><\/span><span> that makes us a magnet for FDI and all the benefits that will come with it for our nation. <\/span><\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:700\">Want to join the conversation? <\/span><span>Drop us a line on <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"mailto:events@enterprisemea.com\" style=\"\">events@enterprisemea.com<\/a><\/span><span>.<\/span><\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:700\">CIRCLE YOUR CALENDAR-<\/span><span style=\"font-weight:400;\"> <\/span><\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:700\">Unis go back this week:<\/span><span style=\"\"> The second semester of the 2022-2023 academic year begins for <\/span><span style=\"font-weight:400;\">public universities on 11 February.<\/span><\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;font-weight:700;\"><a href=\"https:\/\/enterprise.press\/am-edition\/#calendar\" style=\"\">Check out our full calendar on the web<\/a><\/span><span> for a comprehensive listing of upcoming news events, national holidays and news triggers.<\/span><\/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\/ai\/\">AI<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/chatgpt\/\">ChatGPT<\/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\/electricity\/\">electricity<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/google\/\">Google<\/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\/subsidies\/\">subsidies<\/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=\"581385 advertiser\" class=\"issue-section enterprise-adv\">\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=\"581385\">\r\n            \r\n            <div class=\"story__body\">\r\n\r\n                <a href=\"https:\/\/enterpriseam.com\/egypt\/2023\/02\/09\/581385\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-581385\" class=\"content-area-description single-story post-581385 post type-post status-publish format-standard hentry category-advertiser wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<p><span style=\"font-weight:400;\"><a href=\"https:\/\/somabay.com\/\" target=\"_blank\" rel=\"noopener\"><img data-recalc-dims=\"1\" decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2023\/1\/2-Somabay-Escape-1600px.jpg?ssl=1\"><\/a><\/span><\/p><div class=\"grouped-tags\">\n<p><span>Experience a time of serenity and breathtaking views of the Red Sea where you get to enjoy life as it should be, only at Somabay. A gateway for the perfect winter vacation where you can combine all your vacation elements from one place. For more information, kindly contact us at 16390 or <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"http:\/\/www.somabay.com\" style=\"\">www.somabay.com<\/a><\/span><span>.<\/span><\/p>\n<\/div>\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=\"581386\" 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=\"581386\">\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\">Privatization<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2023\/02\/09\/rebooted-privatization-program-to-see-stakes-in-32-companies-sold-to-strategics-public-investors\/\">\r\n                            Rebooted privatization program to see stakes in 32 companies sold to strategics, public investors                        <\/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\/02\/09\/rebooted-privatization-program-to-see-stakes-in-32-companies-sold-to-strategics-public-investors\/\" target=\"_blank\">\n                    Open in new tab                    <!-- 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href=\"https:\/\/enterpriseam.com\/egypt\/2023\/02\/09\/rebooted-privatization-program-to-see-stakes-in-32-companies-sold-to-strategics-public-investors\/\">\r\n                    <div class=\"photo photo--above\">\r\n                        <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2023\/2\/Madbouly-privatizationpresser-8Feb23-1600px.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"581387\" data-permalink=\"https:\/\/enterpriseam.com\/egypt\/2023\/02\/09\/rebooted-privatization-program-to-see-stakes-in-32-companies-sold-to-strategics-public-investors\/madbouly-privatizationpresser-8feb23-1600px-jpg\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2023\/2\/Madbouly-privatizationpresser-8Feb23-1600px.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"Madbouly-privatizationpresser-8Feb23-1600px.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2023\/2\/Madbouly-privatizationpresser-8Feb23-1600px.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2023\/2\/Madbouly-privatizationpresser-8Feb23-1600px.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-581386\" class=\"content-area-description single-story post-581386 post type-post status-publish format-standard has-post-thumbnail hentry category-privatization-watch tag-economy tag-enterpriseam tag-ipo-watch tag-privatization-watch wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<figure class=\"wp-block-audio mb-0\"><audio controls preload=\"metadata\" src=\"https:\/\/s3.us-east-1.amazonaws.com\/ent.news\/audio\/2023\/6\/.52a4264b-a58c-4546-97b4-289ef59ba4d8.mp3\"><\/audio><\/figure>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:400;\"><\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:400;\"><\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:400;\"><\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"\"> <\/span><span style=\"font-weight:700\">The reveal:<\/span><span style=\"\"> The government will sell stakes in 32 state-owned companies over the next <\/span><span>year under a rebooted privatization program designed to pull the country out of its financial crisis and secure much needed FX. In <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/www.facebook.com\/EgyptianCabinet\/posts\/pfbid0zBoqfMsvLMwdAHJyreA8ubBwMnt5tnpAhgEtcqkMCmh4TNoHFNg4jv4Cqk82Ui6Cl\" style=\"\">a press conference<\/a><\/span><span> yesterday (<\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/www.youtube.com\/watch?v=SvLiFalhYDE\" style=\"\">watch, runtime: 16:22<\/a><\/span><span style=\"font-weight:400;\">), Prime Minister Moustafa Madbouly said that the state will offer shares in the companies to strategic investors, via offerings on the EGX and a mix of both over the next 13 months.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:700\">That\u2019s 12 more than last week:<\/span><span style=\"\"> In an address last week, the prime minister said that <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/enterprise.press\/stories\/2023\/02\/02\/well-get-the-names-of-20-companies-in-the-listing-pipeline-next-week-95285\/\" style=\"\">at least<\/a><\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/enterprise.press\/stories\/2023\/02\/02\/well-get-the-names-of-20-companies-in-the-listing-pipeline-next-week-95285\/\" style=\"\">20 companies<\/a><\/span><span style=\"font-weight:400;\"> will be named as part of the state offering program.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:700\">Expect the first sales to take place in the next seven weeks: <\/span><span style=\"\">The ambitious program will <\/span><span style=\"font-weight:400;\">begin during the current quarter and continue through to the end of 1Q 2024, Madbouly said. The government aims to complete at least 25% of the share sales within the first six months of the program, he said.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:700\">Yes, but #1: Strategic or EGX?<\/span><span style=\"\"> It\u2019s still unclear which companies are destined for the EGX and which are being <\/span><span>earmarked for strategics. Madbouly said that the decisions on which way to go have been made by the<\/span><span> investment bank<\/span><span style=\"font-weight:400;\">s working on the transactions, but didn\u2019t provide any further information. <\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:700\">Yes, but #2: Stake sizes and valuations TBA.<\/span><span style=\"\"> The PM also gave no indication of how much of the companies the government <\/span><span>would be willing to sell to strategics. Strategics will want to acquire at least 51% of the companies if they\u2019re going to invest. Press reports in recent weeks have suggested that the government has so far been reluctant to meet the Qatari sovereign wealth fund\u2019s demands for substantial stakes in <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/enterprise.press\/stories\/2023\/02\/08\/el-said-calls-on-qataris-to-invest-adq-said-to-be-mounting-rival-bid-to-qias-vodafone-egypt-acquisition-95853\/\" style=\"\">Vodafone Egypt<\/a><\/span><span> and the <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/enterprise.press\/stories\/2023\/01\/31\/investment-banks-eye-terminal-operator-ipos-and-qatars-swf-is-looking-for-a-strategic-stake-94977\/\" style=\"\">Damietta and Port Said container terminal operators<\/a><\/span><span>. Madbouly told Bloomberg separately that the government doesn\u2019t have a target value for the sales. <\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:700\">REMEMBER-<\/span><span style=\"\"> The privatization push is part of the country\u2019s new <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/enterprise.press\/stories\/2023\/01\/02\/importers-can-now-turn-the-page-on-l-cs-92524\/\" style=\"\">state ownership policy<\/a><\/span><span style=\"\"> which <\/span><span style=\"font-weight:400;\">outlines how the government intends 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. <\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:700;\">WHO\u2019S IN-<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;font-weight:700;\"><a href=\"https:\/\/www.facebook.com\/EgyptianCabinet\/posts\/pfbid02jLU5Sw2NgxGNgHBVkhF2uzEuFZis6fhH4GSG3zkYgoqSJG7tmyTRNGDELNNtpw5el\" style=\"\">The line-up<\/a><\/span><span style=\"font-weight:700;\"> spans a wide variety of sectors including banking, oil and petrochemicals, real estate, ins. and ports.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:700\">Banking and financial services:<\/span><span style=\"\"> <\/span><span style=\"-webkit-text-decoration-skip:none;font-weight:700;text-decoration-skip-ink:none\"><a href=\"https:\/\/enterprise.press\/stories\/2022\/07\/19\/has-banque-du-caire-pushed-its-ipo-back-again-76097\/\" style=\"\">Banque du Caire<\/a><\/span><span style=\"\"> will finally go ahead with its long-awaited IPO, which has been <\/span><span>repeatedly delayed for years <\/span><span>due to poor market conditions. <\/span><span style=\"font-weight:700\">Arab African International Bank (AAIB)<\/span><span> \u2014 whose ownership is evenly split between the Central Bank of Egypt and the Kuwaiti sovereign wealth fund \u2014 is also on the list, as is <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;font-weight:700;\"><a href=\"https:\/\/enterprise.press\/stories\/2022\/12\/13\/saudi-sovereign-wealth-fund-could-finalize-united-bank-acquisition-this-year-91034\/\" style=\"\">United Bank<\/a><\/span><span>, which has been rumored to be subject to a takeover bid by the Saudi sovereign wealth fund. <\/span><span>The privatization plan includes for the first time two ins. companies: <\/span><span style=\"font-weight:700\">Misr Life <\/span><span style=\"font-weight:700\">Ins<\/span><span>. and <\/span><span style=\"font-weight:700\">Misr Ins.<\/span><span>, which were both named by the EGX in its <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/ent.news\/2023\/2\/EGX-annual-report-2022.pdf\" style=\"\">2022 annual report (pdf)<\/a><\/span><span style=\"font-weight:400;\"> as being in the IPO pipeline.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:700\">Oil and chemicals dominate the list:<\/span> \u200eThe <span style=\"font-weight:700\">Egyptian Ethylene and Derivatives Company<\/span> (Ethydco), <span style=\"font-weight:700\">Egyptian Linear Alkyl Benzene<\/span> (Elab), <span style=\"font-weight:700\">Helwan Fertilizers Company<\/span>, the <span style=\"font-weight:700\">Egyptian Polypropylene and Polypropylene Company<\/span> (EPP), the <span style=\"font-weight:700\">Egyptian Drilling Company<\/span> (EDC), and <span style=\"font-weight:700\">Pachin<\/span> are among those tapped in the list. Other industrial and manufacturing firms include <span style=\"font-weight:700\">Misr Concrete Development Company<\/span>, <span style=\"font-weight:700\">Sinai Manganese Company<\/span>, <span style=\"font-weight:700\">El Nasr Mining<\/span>, and the <span style=\"font-weight:700\">Egyptian Ferrous Alloys Company<\/span>. Plastic producer <span style=\"font-weight:700\">Alamal Alsharif Plastics<\/span> and pharma players&nbsp;<span style=\"background-color: transparent; font-weight: 700;\">Chemical Industries Development Company<\/span><span style=\"background-color: transparent;\">&nbsp;<\/span><span style=\"background-color: transparent;\">(CID) and<\/span><span style=\"background-color: transparent;\">&nbsp;<\/span><span style=\"background-color: transparent; font-weight: 700;\">Misr Pharma<\/span><span style=\"background-color: transparent;\"> also made it to the list.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:700\">Military firms to be sold:<\/span><span style=\"\"> As expected, two military-owned firms \u2014 bottled drinks firm <\/span><span style=\"font-weight:700\">Safi<\/span><span style=\"\"> and <\/span><span>fuel retailer <\/span><span style=\"font-weight:700\">Wataniya<\/span><span> \u2014 are included in the list. The two firms were recently <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/enterprise.press\/stories\/2023\/01\/15\/five-state-military-owned-companies-added-to-pre-ipo-fund-93514\/\" style=\"\">added to a pre-IPO fund<\/a><\/span><span style=\"font-weight:400;\"> managed by the Sovereign Fund of Egypt (SFE), which has been restructuring the companies ahead of a share sale. Egypt has committed to reducing the military\u2019s economic footprint under its USD 3 bn loan agreement with the IMF. <\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:700\">Four state-owned real estate players are in:<\/span><span style=\"\"> <\/span><span style=\"font-weight:700\">El Nasr Housing and Development<\/span><span style=\"\">, <\/span><span style=\"font-weight:700\">Maadi for <\/span><span style=\"font-weight:700\">Development and Construction<\/span><span>, <\/span><span style=\"font-weight:700\">El Mostakbal For Urban Development<\/span><span> and <\/span><span style=\"font-weight:700\">Salhia <\/span><span style=\"font-weight:700\">Investment and Development Co<\/span><span>, are all included, as are <\/span><span style=\"font-weight:700\">a <\/span><span style=\"font-weight:700\">number of state-owned hotels<\/span><span style=\"font-weight:400;\"> that will be merged into a single holding company ahead of a sale.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:700\">Ports:<\/span><span style=\"\"> \u064fState-owned <\/span><span style=\"font-weight:700\">Port Said Container &amp; Cargo Handling Co<\/span><span style=\"\">. (PSCCHC) and <\/span><span style=\"font-weight:700\">Damietta <\/span><span style=\"font-weight:700\">Container &amp; Cargo Handling Co<\/span><span> (DCHC) \u2014 which the Qatari Investment Authority is in talks to acquire <\/span><span>\u2014 were named, as was the Suez Canal Authority\u2019s <\/span><span style=\"font-weight:700\">Canal Company for Mooring and Lights<\/span><span style=\"font-weight:400;\">.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:700\">And a lone tech firm:<\/span><span style=\"font-weight:400;\"> Misr Technology Services (MTS) will be put up for sale to investors. <\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:700\">That\u2019s not all, folks:<\/span><span style=\"\"> The plan will also see the state offering some of its assets, including two <\/span><span>of the country\u2019s largest wind farm projects: the 580-MW facility in <\/span><span style=\"font-weight:700\">Gabal El Zeit<\/span><span> and the 545-MW facility in <\/span><span style=\"font-weight:700\">Zafarana<\/span><span>. The Siemens-built, <\/span><span style=\"font-weight:700\">4.8 GW combined-cycle power plant<\/span><span> in Beni Suef will also be up for grabs, with the announcement coming months after it was reported to have been <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/enterprise.press\/stories\/2022\/10\/13\/sfe-gets-the-ball-rolling-on-power-plant-stake-sale-83838\/\" style=\"\">added to the SFE\u2019s pre-IPO fund<\/a><\/span><span style=\"font-weight:400;\">. The Saudi Public Investment Fund (PIF) is among those interested, waving a possibility to invest in all three plants as part of Riyadh\u2019s USD 10 bn investment pledge, SFE head Ayman Soliman said last year. <\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:700;\">WHO\u2019S OUT-<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:700\">There were a few notable absences from the list:<\/span><span style=\"\"> Alexbank, eMethanex, Enppi, Assiut Oil <\/span><span>Refining Company, and MIDOR weren\u2019t among the 32 names announced yesterday. All of these companies were <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/ent.news\/2023\/2\/EGX-annual-report-2022.pdf\" style=\"\">recently named (pdf)<\/a><\/span><span style=\"font-weight:400;\"> by the EGX as being in the government\u2019s privatization plans.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:700\">The government\u2019s announcement got ink from the foreign press:<\/span><span> <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/www.bloomberg.com\/news\/articles\/2023-02-08\/after-devaluation-egypt-eyes-bargain-hunters-with-state-firm-offering?srnd=premium-middle-east\" style=\"\">Bloomberg<\/a><\/span><span> | <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/www.reuters.com\/article\/idUSC6N32R02P\" style=\"\">Reuters<\/a><\/span><span> | <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/www.thenationalnews.com\/business\/2023\/02\/08\/egypt-to-offer-shares-of-32-state-owned-companies-to-private-investors\/\" style=\"\">The National<\/a><\/span><\/p>\n\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/economy\/\">economy<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/ipo-watch\/\">IPO watch<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/privatization-watch\/\">privatization 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=\"581388\" 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=\"581388\">\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\">Economy<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2023\/02\/09\/foreign-investors-want-higher-rates-before-returning-to-egypt\/\">\r\n                            Foreign investors want higher rates before returning to Egypt                        <\/a>\r\n                    <\/h3>\r\n\r\n                    \r\n\t\t\t\t\t\n<div class=\"cta\">\n    <div class=\"cta__btn share-dropdown-cta dropdown-toggle-btn\" style=\"position:relative\">\n        <img decoding=\"async\" src=\"https:\/\/ent.news\/internal\/408834.svg\" alt=\"\">\n        Share Story\n        <!-- Dropdown Menu -->\n        <ul class=\"share-menu\">\n            <li class=\"list-inline-item\">\n                <a href=\"https:\/\/enterpriseam.com\/egypt\/2023\/02\/09\/foreign-investors-want-higher-rates-before-returning-to-egypt\/\" target=\"_blank\">\n                    Open in new tab                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/new-tab.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a href=\"#\" target=\"_blank\" onclick=\"event.preventDefault(); 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data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2022\/12\/CBE-1600.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"CBE-1600.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2022\/12\/CBE-1600.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2022\/12\/CBE-1600.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-581388\" class=\"content-area-description single-story post-581388 post type-post status-publish format-standard has-post-thumbnail hentry category-economy tag-central-bank-of-egypt tag-economy tag-enterpriseam tag-financial-markets tag-inflows tag-interest-rates wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<figure class=\"wp-block-audio mb-0\"><audio controls preload=\"metadata\" src=\"https:\/\/s3.us-east-1.amazonaws.com\/ent.news\/audio\/2023\/2\/.b6cdef15-772f-4ebf-aa62-b2f8adbadd6f.mp3\"><\/audio><\/figure>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:400;\"><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:400;\"><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"\"> <\/span><span style=\"font-weight:700\">Dovish CBE policy leaves EM investors disappointed:<\/span><span style=\"\"> Would-be emerging market <\/span><span>investors looking to return to Egypt after January\u2019s devaluations were disappointed by the Central Bank of Egypt\u2019s decision not to hike interest rates last week, analysts tell <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/www.bnnbloomberg.ca\/egypt-s-policy-mistake-on-rates-disappoints-emerging-market-investors-1.1880884\" style=\"\">Bloomberg<\/a><\/span><span style=\"font-weight:400;\">. <\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:700\">Flashback:<\/span><span> The central bank chose to <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/enterprise.press\/stories\/2023\/02\/05\/cbe-keeps-rates-on-hold-in-surprise-move-95377\/\" style=\"\">leave interest rates<\/a><\/span><span style=\"font-weight:400;\"> unchanged at its policy meeting last week, defying analyst expectations which had forecast rates to rise by at least 100 bps following last month\u2019s currency devaluation. The CBE said it was waiting to see the impact of its huge 300-bps hike in December before increasing the policy rate further.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:700\">Record yields:<\/span><span> Yields on EGP-debt have climbed sharply since <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/enterprise.press\/stories\/2023\/01\/12\/egp-breaks-the-30-barrier-against-the-usd-before-settling-at-29-76-93412\/\" style=\"\">the devaluation<\/a><\/span><span> in early January. Lower demand has caused the yield on one-year t-bills to surge more than 400 bps over the past four weeks to a record high of 22.1%. Currently, al<\/span><span>most the entire yield curve<\/span><span style=\"font-weight:400;\"> is above 22%, with only the extreme short- and long-ends of the curve lower.  <\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:700\">But real rates remain low:<\/span><span> Yields remain low on an inflation-adjusted basis as local prices soar. Annual urban inflation was running at a five-year high of <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/enterprise.press\/stories\/2023\/01\/11\/inflation-hits-new-high-on-weaker-egp-93299\/#:~:text=Figures%20released%20yesterday%20by%20state,just%205.9%25%20in%20December%202021.\" style=\"\">21.3%<\/a><\/span><span style=\"font-weight:400;\"> in December, squeezing real returns for portfolio investors.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:700\">And they could be about to turn negative:<\/span><span> Inflation data is expected to show this week that prices continued accelerating in January, with <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/www.reuters.com\/markets\/poll-egyptian-inflation-5-year-high-seen-accelerating-january-2023-02-07\/\" style=\"\">analysts forecasting<\/a><\/span><span> u<\/span><span style=\"font-weight:400;\">rban inflation to hit 23.75%.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:700\">Investors want higher rates:<\/span><span style=\"font-weight:400;\"> Investors were left disappointed by the central bank\u2019s decision to hold rates, Edwin Gutierrez, head of emerging-market sovereign debt at abrdn, told the news outlet. \u201cWe think it\u2019s a policy mistake and definitely caused some investors to rethink,\u201d he said. <\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:700\">It\u2019s investors\u2019 turn to wait and see:<\/span><span style=\"font-weight:400;\"> \u201cThe dovish surprise can\u2019t help but lead to some second-guessing of the bank\u2019s commitment to inflation and is just one more reason to wait for further clarity before jumping back into the local market,\u201d said an analyst at Columbia Threadneedle Investments.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:700\">Just last month investors were talking of buying bonds again<\/span><span style=\"font-weight:400;\">, but are moving with caution after last week's CBE rate\u2019s policy. The pause \u201cmay have interrupted the recent momentum of policy decisions, which have been tentatively recreating the conditions for an attractive carry trade in the EGP,\u201d Goldman Sachs strategists wrote in a note.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:700\">Don\u2019t expect rates to stay where they are in the coming months:<\/span><span style=\"font-weight:400;\"> Analysts expect the central bank to move on rates in coming meetings in response to rising inflation. Abu Dhabi Commercial Bank thinks rates will rise by another 300 bps over the first six months of the year.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:700\">Downgraded:<\/span><span> The comments come a day after Moody\u2019s <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/enterprise.press\/stories\/2023\/02\/08\/moodys-downgrades-egypts-credit-rating-for-first-time-since-2013-95854\/\" style=\"\">downgraded Egypt\u2019s credit rating<\/a><\/span><span> to B3 <\/span><span style=\"font-size:10.5pt;\">\u2014<\/span><span style=\"font-weight:400;\"> its first cut since 2013 \u2014 warning that transitioning to more sustainable sources of inflows will not reduce the country\u2019s external vulnerabilities overnight. \u201cWhile the situation may stabilize, Moody's does not expect Egypt's liquidity and external positions to rebound quickly,\u201d it said.<\/span><\/p>\n\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/central-bank-of-egypt\/\">Central Bank of Egypt<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/economy\/\">economy<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/financial-markets\/\">Financial Markets<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/inflows\/\">inflows<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/interest-rates\/\">interest rates<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                    <\/div>\n    <\/div>\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"581390\" 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=\"581390\">\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\">Cabinet watch<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2023\/02\/09\/cabinet-scraps-5-development-fee-for-local-mobile-phone-assemblers\/\">\r\n                            Cabinet scraps 5% development fee for local mobile phone assemblers                        <\/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\/02\/09\/cabinet-scraps-5-development-fee-for-local-mobile-phone-assemblers\/\" target=\"_blank\">\n                    Open in new tab                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/new-tab.svg\" alt=\"\"> -->\n           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size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"581391\" data-permalink=\"https:\/\/enterpriseam.com\/egypt\/2023\/02\/09\/cabinet-scraps-5-development-fee-for-local-mobile-phone-assemblers\/smartphone-1600px-jpg\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2022\/2\/Smartphone-1600px.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"Smartphone-1600px.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2022\/2\/Smartphone-1600px.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2022\/2\/Smartphone-1600px.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-581390\" class=\"content-area-description single-story post-581390 post type-post status-publish format-standard has-post-thumbnail hentry category-cabinet-watch tag-cabinet-watch tag-enterpriseam tag-manufacturing tag-tax wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<figure class=\"wp-block-audio mb-0\"><audio controls preload=\"metadata\" src=\"https:\/\/s3.us-east-1.amazonaws.com\/ent.news\/audio\/2023\/2\/.59a9ea20-e488-4e61-8ef0-a53630cca0ad.mp3\"><\/audio><\/figure>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:400;\"><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"\"><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"\"> <\/span><span style=\"font-weight:700\">Local mobile phone assemblers are going to pay one less tax: <\/span><span style=\"\">The Cabinet <\/span><span style=\"\">approved in its weekly meeting exempting a 5% development fee on imported mobile phone components as part of the government\u2019s efforts to localize the industry, it said in <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/www.facebook.com\/EgyptianCabinet\/posts\/pfbid02jRi7pfFZFaxnCJZu2GujEGzZDfAwckqNvTP3zZYUCrWbTUBo3VkGc962nPcgSCAsl\" style=\"\">a statement<\/a><\/span><span style=\"\"> yesterday.<\/span><span style=\"font-weight:400;\"> The exemptions also include the final product, locally manufactured parts and accessories.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:700\">You heard it here first:<\/span><span style=\"\"> A government source told Enterprise <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/enterprise.press\/stories\/2023\/01\/24\/local-mobile-manufacturers-could-soon-catch-a-tax-break-94361\/\" style=\"\">last month<\/a><\/span><span style=\"font-weight:400;\"> the Finance Ministry is considering scrapping the fee. <\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:700\">More privatization on the way?<\/span><span style=\"font-weight:400;\"> The government reviewed an inventory on vacant and built land and untapped hangers in factories and companies affiliated with the Military Production Ministry \u201cto examine the best way to benefit [from them] for an economic return.\u201d The housing minister was tasked with inspecting the areas, and determining which assets could be offered to industrial investors. <\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:700\">Speaking of the military:<\/span><span style=\"font-weight:400;\"> The Cabinet approved a presidential decree allocating 10 feddans of state-owned land in Giza to the National Authority for Military Production to set up a waste-to-energy plant.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:700;\">ALSO FROM THE MEETING: <\/span><\/p>\n<ul>\n<li><span style=\"font-weight:700\">More relay towers:<\/span><span style=\"font-weight:400;\"> Ministers approved proposals submitted by contractors to set up relay towers for mobile phone networks in 20 governorates. <\/span><\/li>\n<li><span style=\"font-weight:700\">One more chance for the informal economy:<\/span><span style=\"font-weight:400;\"> Informal projects will be given an extra year to legalize their statuses starting 6 April. <\/span><\/li>\n<li><span style=\"font-weight:700\">Gosoor gets new state owner: <\/span><span style=\"font-weight:400;\">The Public Enterprise Ministry\u2019s El Nasr Export & Import Co (Gosoor) will have its ownership transferred to the Trade Ministry\u2019s Egypt Expo & Convention Authority (EECA). <\/span><\/li>\n<\/ul>\n\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/cabinet-watch\/\">cabinet watch<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/manufacturing\/\">Manufacturing<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/tax\/\">tax<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                    <\/div>\n    <\/div>\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"581392\" 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=\"581392\">\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\">M&amp;A WATCH<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2023\/02\/09\/sri-lankas-lolc-wants-to-expand-in-egypt\/\">\r\n                            Sri Lanka\u2019s LOLC wants to expand in Egypt                        <\/a>\r\n                    <\/h3>\r\n\r\n                    \r\n\t\t\t\t\t\n<div class=\"cta\">\n    <div class=\"cta__btn share-dropdown-cta dropdown-toggle-btn\" style=\"position:relative\">\n        <img decoding=\"async\" src=\"https:\/\/ent.news\/internal\/408834.svg\" alt=\"\">\n        Share Story\n        <!-- Dropdown Menu -->\n        <ul class=\"share-menu\">\n            <li 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src=\"https:\/\/i0.wp.com\/ent.news\/2023\/2\/lolc-1600px.jpeg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"581393\" data-permalink=\"https:\/\/enterpriseam.com\/egypt\/2023\/02\/09\/sri-lankas-lolc-wants-to-expand-in-egypt\/lolc-1600px-jpeg\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2023\/2\/lolc-1600px.jpeg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"lolc-1600px.jpeg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2023\/2\/lolc-1600px.jpeg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2023\/2\/lolc-1600px.jpeg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-581392\" class=\"content-area-description single-story post-581392 post type-post status-publish format-standard has-post-thumbnail hentry category-ma-watch tag-banff tag-enterpriseam tag-healthcare tag-lolc-group tag-ma-watch tag-non-banking-financial-services tag-textiles wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<figure class=\"wp-block-audio mb-0\"><audio controls preload=\"metadata\" src=\"https:\/\/s3.us-east-1.amazonaws.com\/ent.news\/audio\/2023\/2\/.b40c8463-1f1b-4a31-aaf9-3644d5636ee9.mp3\"><\/audio><\/figure>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:400;\"><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"\"><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"\"> <\/span><span style=\"font-weight:700\">Yesterday in M&A:<\/span><span style=\"\"> A Sri Lankan financial services conglomerate that established a presence <\/span><span style=\"font-weight:400;\">in Egypt last year wants to make new acquisitions, and Nilex-listed medical supplier ICMI has signed a purchase agreement to acquire a textile company.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:700;\">LOLC WANTS MORE LOCAL FIRMS-<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"\">(xxSA) <\/span><span style=\"font-weight:700\">Sri Lankan conglomerate <\/span><span style=\"-webkit-text-decoration-skip:none;font-weight:700;text-decoration-skip-ink:none\"><a href=\"https:\/\/www.lolc.com\/\" style=\"\">LOLC Group<\/a><\/span><span style=\"font-weight:700\"> wants to acquire several unnamed local <\/span><span style=\"font-weight:700\">firms <\/span><span>under a yet-to-be-established holding company in the near future, Shiraz Refai, LOLC head of MENA strategic initiatives, reportedly told <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/bit.ly\/3lm80yQ\" style=\"\">Al Mal<\/a><\/span><span style=\"font-weight:400;\">. The company also wants to add consumer and SME finance to the services offered by its local subsidiary First Microfinance. <\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:700\">LOLC entered the Egyptian market last year<\/span><span style=\"\"> with the EGP 80 mn acquisition of <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/enterprise.press\/stories\/2022\/04\/19\/sri-lankan-nbfi-acquires-100-of-first-microfinance-aims-to-grow-loan-book-and-branch-network-69734\/\" style=\"\">First<\/a><\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/enterprise.press\/stories\/2022\/04\/19\/sri-lankan-nbfi-acquires-100-of-first-microfinance-aims-to-grow-loan-book-and-branch-network-69734\/\" style=\"\">Microfinance<\/a><\/span><span>. The company said <\/span><span style=\"font-weight:400;\">at the time that it would introduce new services including micro ins, micro leasing, and consumer finance starting 2023. LOLC is also planning to expand into a number of countries in the MENA region, Refai is quoted as saying.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:700;\">ICMI GOING AHEAD WITH BANFF BUY-<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:700\">ICMI is paying under the odds for Banff: <\/span><span style=\"\">The International Company for Medical <\/span><span>Industries (ICMI) on Monday signed a purchase agreement to acquire a 72% stake in Mansoura-based <\/span><span style=\"\">medical <\/span><span>textiles company <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/bnonwoven.com\/about-us\/\" style=\"\">Banff Non Wovens<\/a><\/span><span> for EGP 23.4 mn, according to an <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/ent.news\/2023\/2\/ICMI-Banf-07-02-2023.pdf\" style=\"\">EGX disclosure (pdf)<\/a><\/span><span>. The transaction values Banff at some EGP 32.5 mn \u2014 EGP 6.7 mn less than the recent valuation approved by Banff shareholders <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/enterprise.press\/stories\/2023\/02\/06\/aaib-could-exit-palm-hills-in-stake-sale-to-emirati-investor-95587\/\" style=\"\">last week<\/a><\/span><span>. ICMI paid EGP 9.6 mn towards the acquisition upon signing, with the remainder of the acquisition to take place in stages through the rest of 2023.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:700\">What is <\/span><span style=\"font-weight:700\">ICMI \u2014 and what does it want with Banff?<\/span><span style=\"font-weight:700\"> <\/span><span style=\"\">Founded in <\/span><span style=\"\">2004<\/span><span style=\"\">, the <\/span><span style=\"\">Nilex<\/span><span style=\"\">-list<\/span><span style=\"\">ed <\/span><span>healthcare firm manufactures, imports, and exports medical supplies like surgical sutures and nee<\/span><span>dle tips.<\/span><span> It reported a net income of EGP 34k on sales of EGP 2.2 mn in 2020, according to its <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/ent.news\/2023\/2\/ICMI-Financials-2020.pdf\" style=\"\">financials (pdf)<\/a><\/span><span style=\"font-weight:400;\"> for that year. Banff produces materials used by the healthcare industry. Its non-woven fabrics are used for goods like masks, surgical gowns and sterilization wraps.<\/span><\/p>\n\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/banff\/\">Banff<\/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\/lolc-group\/\">LOLC Group<\/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                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/textiles\/\">textiles<\/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=\"581394\" 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=\"581394\">\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\">Energy<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2023\/02\/09\/copelouzos-co-close-to-finalizing-studies-for-greece-egypt-electricity-link\/\">\r\n                            Copelouzos + co. close to finalizing studies for Greece-Egypt electricity link                        <\/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 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to finalizing studies for Greece-Egypt electricity link\">\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=Copelouzos+%2B+co.+close+to+finalizing+studies+for+Greece-Egypt+electricity+link+https%3A%2F%2Fenterpriseam.com%2Fegypt%2F2023%2F02%2F09%2Fcopelouzos-co-close-to-finalizing-studies-for-greece-egypt-electricity-link%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\/02\/09\/copelouzos-co-close-to-finalizing-studies-for-greece-egypt-electricity-link\/\">\r\n                    <div class=\"photo photo--above\">\r\n                        <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2021\/12\/electricity-energy.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"581395\" data-permalink=\"https:\/\/enterpriseam.com\/egypt\/2023\/02\/09\/copelouzos-co-close-to-finalizing-studies-for-greece-egypt-electricity-link\/electricity-energy-jpg-2\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2021\/12\/electricity-energy.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"electricity-energy.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2021\/12\/electricity-energy.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2021\/12\/electricity-energy.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-581394\" class=\"content-area-description single-story post-581394 post type-post status-publish format-standard has-post-thumbnail hentry category-energy tag-copelouzos tag-electricity tag-elica tag-energy tag-enterpriseam tag-gregy tag-infrastructure tag-samaras-group wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<figure class=\"wp-block-audio mb-0\"><audio controls preload=\"metadata\" src=\"https:\/\/s3.us-east-1.amazonaws.com\/ent.news\/audio\/2023\/2\/.2034dcb8-dcfb-4baf-9336-8b40efcae3a9.mp3\"><\/audio><\/figure>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:400;\"><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"\"> <\/span><span style=\"font-weight:700\">GREGY is advancing:<\/span><span style=\"\"> The consortium behind the <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/enterprise.press\/stories\/2022\/06\/01\/the-war-in-ukraine-is-accelerating-plans-to-link-our-electricity-grid-to-greece-72429\/\" style=\"\">3-GW Greece-Egypt Interconnector<\/a><\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/enterprise.press\/stories\/2022\/06\/01\/the-war-in-ukraine-is-accelerating-plans-to-link-our-electricity-grid-to-greece-72429\/\" style=\"\">(GREGY)<\/a><\/span><span> is putting together the final technical and financial surveys ahead of a financial investment decision, Greek outlet <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/www.ekathimerini.com\/economy\/1204275\/greece-egypt-power-link-presented-in-washington\/\" style=\"\">eKathimerini<\/a><\/span><span> reported yesterday. John Karydas, the CEO of the renewables unit of Copelouzos <\/span><span style=\"font-size:10.5pt;\">\u2014 <\/span><span>which together with Samaras Group is drawing up plans for the project <\/span><span style=\"font-size:10.5pt;\">\u2014 <\/span><span style=\"font-weight:400;\">made the statements at a conference in Washington.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:700\">BACKGROUND-<\/span><span> Work on GREGY has <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/enterprise.press\/stories\/2022\/09\/04\/egypt-greece-plot-9-5-gw-renewables-project-plus-private-sector-solar-tender-coming-80167\/\" style=\"\">accelerated last year<\/a><\/span><span style=\"font-weight:400;\"> as the EU steps up its search for new energy supplies following an energy crunch on the back of the Russian invasion of Ukraine.  Renewable energy player Elica \u2014 a 50\/50 joint venture between Copelouzos and Samaras \u2014 is applying to the EU for funding, with the European Investment Bank and a number of Greek banks possibly contributing money to the EUR 3.5 bn project.<\/span><\/p>\n\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/copelouzos\/\">Copelouzos<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/electricity\/\">electricity<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/elica\/\">Elica<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/energy\/\">energy<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/gregy\/\">GREGY<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/infrastructure\/\">infrastructure<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/samaras-group\/\">Samaras Group<\/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=\"581396\" 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=\"581396\">\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\">Commodities<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2023\/02\/09\/could-serbia-supply-us-with-1-mn-tons-of-wheat\/\">\r\n                            Could Serbia supply us with 1 mn tons of wheat?                        <\/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\/02\/09\/could-serbia-supply-us-with-1-mn-tons-of-wheat\/\" 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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Supply Minister Ali El Moselhy discussed the potential direct purchase in a meeting with a Serbian delegation headed by former president Boris Tadic yesterday.<\/span><span style=\"font-weight:700\"> <\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:700\">The details: <\/span><span style=\"\">Serbia would supply us with wheat and corn of <\/span><span>Serbian, Romanian, and Bulgarian origin, which would be transported from the Romanian Port of Constanta to either Alexandia or Damietta Port. The statement didn\u2019t disclose a timeline or the price at which the wheat and corn will be purchased. The potential purchase came after President Abdel Fattah El Sisi <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/enterprise.press\/stories\/2022\/07\/21\/el-sisi-signs-cooperation-agreements-in-first-serbian-trip-76336\/\" style=\"\">last summer visited Serbia<\/a><\/span><span style=\"font-weight:400;\"> for the first time. The Egyptian and Serbian sides have scheduled further meetings to work towards an agreement.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:700\">Is this feasible? <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/www.bloomberg.com\/news\/articles\/2023-02-08\/egypt-in-talks-to-buy-serbian-wheat-in-push-to-expand-suppliers?sref=mmeFTDW1\" style=\"\">Bloomberg<\/a><\/span><span style=\"font-weight:400;\"> notes that Serbia is a relatively minor player among global wheat producers and typically exports no more than 1 mn tons of the grain each season. The country\u2019s wheat exports this year are forecast to come in at some 600k tons, the business news service reports, citing US Department of Agriculture data. <\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:700\">We\u2019ve also been gearing up for more Romanian wheat: <\/span><span>Romania promised to increase wheat exports to Egypt during Romanian Prime Minister Nicolae Ciuc\u0103\u2019s <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/enterprise.press\/stories\/2023\/02\/06\/romania-to-increase-wheat-exports-to-egypt-95598\/\" style=\"\">visit to Egypt<\/a><\/span><span style=\"font-weight:400;\">earlier this week. <\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:700\">REMEMBER- <\/span><span style=\"font-weight:400;\">War in Ukraine sent international grain prices soaring last year, forcing Egypt \u2014 the world\u2019s largest importer of wheat \u2014 to rely more on the local harvest, diversify the source of its imports, and pivot from international tenders to direct purchases on the global markets. <\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:700\">AND- Silo money from the<\/span><span style=\"font-weight:700\"> EIB? <\/span><span>The state is in talks with the European Investment Bank<\/span><span> (EIB) to secure investment to establish a large silo in the Damietta Port with a storage capacity of 200k tons, as well as five 5-k ton silo fields in Sharkiya, Kafr El Sheikh, Dakahlia, Minya, and El Wadi El Gedid, according to the statement. El Moselhy met with EIB director Lionel Rapaille yesterday. <\/span><span>The European lender <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/www.eib.org\/en\/projects\/all\/20220523\" style=\"\">in December approved<\/a><\/span><span> a proposal to provide EUR 150 mn to Egypt to bolster its silo storage capacity.<\/span><\/p>\n\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/ali-el-moselhy\/\">Ali El Moselhy<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/commodities\/\">commodities<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/egypt-serbia-relations\/\">Egypt-Serbia relations<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/supply-ministry\/\">Supply Ministry<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/wheat\/\">wheat<\/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=\"581398\" 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=\"581398\">\r\n            \r\n            <div class=\"story__body\">\r\n\r\n                <a href=\"https:\/\/enterpriseam.com\/egypt\/2023\/02\/09\/raya-cx-ceo-ahmed-refky-resigns\/\">\r\n                    <div class=\"photo photo--above\">\r\n                        <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2023\/2\/refky-raya-1600px-jpeg.jpeg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"581399\" data-permalink=\"https:\/\/enterpriseam.com\/egypt\/2023\/02\/09\/raya-cx-ceo-ahmed-refky-resigns\/refky-raya-1600px-jpeg-jpeg\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2023\/2\/refky-raya-1600px-jpeg.jpeg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"refky-raya-1600px-jpeg.jpeg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2023\/2\/refky-raya-1600px-jpeg.jpeg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2023\/2\/refky-raya-1600px-jpeg.jpeg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-581398\" class=\"content-area-description single-story post-581398 post type-post status-publish format-standard has-post-thumbnail hentry category-uncategorized tag-ahmed-aboulezz tag-enterpriseam tag-moves tag-raya-cx wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<figure class=\"wp-block-audio mb-0\"><audio controls preload=\"metadata\" src=\"https:\/\/s3.us-east-1.amazonaws.com\/ent.news\/audio\/2023\/12\/.1732f2bf-db78-42f1-92af-101c8bba363e.mp3\"><\/audio><\/figure>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:400;\"><\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"\"><\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:700\">Raya<\/span><span style=\"\"> <\/span><span style=\"font-weight:700\">Customer Experience (Raya CX)<\/span><span style=\"\"> has appointed <\/span><span style=\"font-weight:700\">Ahmed Aboulezz<\/span><span style=\"\"> as its new <\/span><span style=\"\">CEO, after <\/span><span style=\"font-weight:700\">Ahmed Refky<\/span><span style=\"\"> (<\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/www.linkedin.com\/in\/ahmedrefky\/\" style=\"\">LinkedIn<\/a><\/span><span style=\"\">) stepped down, the company said in an <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/ent.news\/2023\/2\/RAYA-PR-07-02-2023.pdf\" style=\"\">EGX disclosure (pdf)<\/a><\/span><span style=\"\">. Aboulezz will assume his new role on 19 February when Refky leaves his position.<\/span><\/p>\n\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/ahmed-aboulezz\/\">Ahmed Aboulezz<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/moves\/\">moves<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/raya-cx\/\">Raya CX<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                    <\/div>\n    <\/div>\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"581400 advertiser\" class=\"issue-section enterprise-adv\">\n<div class=\"issue-section__content\">\n<div class=\"stories\">            <!-- Show divider before story section -->\r\n        <div \r\n            class=\"\r\n                            \"\r\n            id=\"581400\">\r\n            \r\n            <div class=\"story__body\">\r\n\r\n                <a href=\"https:\/\/enterpriseam.com\/egypt\/2023\/02\/09\/581400\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-581400\" class=\"content-area-description single-story post-581400 post type-post status-publish format-standard hentry category-advertiser wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<p><span style=\"font-weight:400;\"><a href=\"https:\/\/www.sodic.com\/\" target=\"_blank\" rel=\"noopener\"><img data-recalc-dims=\"1\" decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2023\/2\/SODIC-Forty-West-1600px.jpg?ssl=1\"><\/a><\/span><\/p>\n\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"581401\" 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=\"581401\">\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\/02\/09\/the-state-offering-program-and-the-turkey-syria-earthquake-feature-on-the-talk-shows\/\">\r\n                            The state offering program and the Turkey-Syria earthquake feature on the talk shows                        <\/a>\r\n                    <\/h3>\r\n\r\n                    \r\n\t\t\t\t\t\n<div class=\"cta\">\n    <div class=\"cta__btn share-dropdown-cta dropdown-toggle-btn\" style=\"position:relative\">\n        <img decoding=\"async\" src=\"https:\/\/ent.news\/internal\/408834.svg\" alt=\"\">\n        Share Story\n        <!-- Dropdown Menu -->\n        <ul class=\"share-menu\">\n            <li class=\"list-inline-item\">\n                <a href=\"https:\/\/enterpriseam.com\/egypt\/2023\/02\/09\/the-state-offering-program-and-the-turkey-syria-earthquake-feature-on-the-talk-shows\/\" target=\"_blank\">\n                    Open in new tab                    <!-- <img decoding=\"async\" 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           <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2023\/2\/privatizationpresser-MasaaDMC-8Feb23-1600px.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"581402\" data-permalink=\"https:\/\/enterpriseam.com\/egypt\/2023\/02\/09\/the-state-offering-program-and-the-turkey-syria-earthquake-feature-on-the-talk-shows\/privatizationpresser-masaadmc-8feb23-1600px-jpg\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2023\/2\/privatizationpresser-MasaaDMC-8Feb23-1600px.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"privatizationpresser-MasaaDMC-8Feb23-1600px.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2023\/2\/privatizationpresser-MasaaDMC-8Feb23-1600px.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2023\/2\/privatizationpresser-MasaaDMC-8Feb23-1600px.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-581401\" class=\"content-area-description single-story post-581401 post type-post status-publish format-standard has-post-thumbnail hentry category-last-nights-talk-shows tag-enterpriseam tag-ipo-watch tag-last-nights-talk-shows tag-moustafa-madbouly tag-osama-rabie tag-privatization-watch tag-suez-canal-authority wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<figure class=\"wp-block-audio mb-0\"><audio controls preload=\"metadata\" src=\"https:\/\/s3.us-east-1.amazonaws.com\/ent.news\/audio\/2023\/2\/.f55adf4e-349b-4fe6-ad7a-2912e261c99e.mp3\"><\/audio><\/figure>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:400;\"><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"\"><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:700\">It was surprisingly a quiet night on talk shows yesterday: <\/span><span style=\"\">With Lamees El Hadidi, <\/span><span style=\"font-weight:400;\">Amr Adib and Ahmed Moussa all having the night off, and Al Hayah Al Youm scaling back its evening show, Ramy Radwan on Masaa DMC and Yahduth Fi Masr\u2019s Sherif Amer more or less had the airwaves to themselves. <\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:700\">Privatization was the big story at home<\/span><span style=\"\">, though Masaa DMC was the only show to give <\/span><span style=\"\">Madbouly\u2019s presser some airtime last night (<\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/www.youtube.com\/watch?v=fMxmVe0y34c\" style=\"\">watch, runtime: 2:33<\/a><\/span><span style=\"\"> | <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/www.youtube.com\/watch?v=b0IkDTm1B-s\" style=\"\">watch, runtime: 1:51<\/a><\/span><span style=\"\">). Gehan Saleh, an economic advisor to the PM, phoned into the show, telling Radwan that the state offering program will help to attract more foreign direct investment into the country. \u201cBoth ways, whether through strategic investors or the bourse, would empower the private sector participation. It\u2019s all in the hands of hired investment banks and IPO advisors to decide on the size of the stake being offered depending on firms\u2019 financial results,\u201d Saleh said (<\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/www.youtube.com\/watch?v=mLl7vNHnu5E\" style=\"\">watch, runtime: 9:14<\/a><\/span><span style=\"font-weight:400;\">). <\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:700\">The aftermath of the deadly earthquake in Turkey and Syria was still getting a lot of <\/span><span style=\"font-weight:700\">attention on the airwaves. <\/span><span style=\"\">Yahduth Fi Masr\u2019s Sherif Amer spoke with two Egyptians rescued from under the rubble, including an engineering freshman who was rescued in Turkey\u2019s Iskenderun (<\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/www.youtube.com\/watch?v=BubgJcKvgIk\" style=\"\">watch, runtime 8:09<\/a><\/span><span style=\"\">). The student recounted horrific scenes from the devastating earthquake after her five-storey building collapsed. Masaa DMC also had coverage (watch, runtime: <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/www.youtube.com\/watch?v=jUFw-WdU134\" style=\"\">2:50<\/a><\/span><span style=\"\"> | <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/www.youtube.com\/watch?v=UtI5ISDLKyc\" style=\"\">1:50<\/a><\/span><span style=\"font-weight:400;\">).<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:700\">Al Hayah Al Youm sat down with Suez Canal Authority Chairman Osama Rabie<\/span><span style=\"\">, who <\/span><span style=\"\">talked about the recent incidents of vessels running aground in the canal, and refuted recent rumors of government plans to sell management rights of the canal to foreign companies (<\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/www.youtube.com\/watch?v=4NpB_GW2QkM\" style=\"\">watch, runtime: 13:53<\/a><\/span><span style=\"font-weight:400;\">).<\/span><\/p>\n\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/ipo-watch\/\">IPO watch<\/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\/moustafa-madbouly\/\">Moustafa Madbouly<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/osama-rabie\/\">Osama Rabie<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/privatization-watch\/\">privatization watch<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/suez-canal-authority\/\">Suez Canal Authority<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                    <\/div>\n    <\/div>\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"581403\" 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 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class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2023\/02\/09\/nigerian-fintech-flutterwave-enters-egypt\/\">\r\n                            Nigerian fintech Flutterwave enters 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\/02\/09\/nigerian-fintech-flutterwave-enters-egypt\/\" target=\"_blank\">\n                    Open in new tab                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/new-tab.svg\" alt=\"\"> -->\n                <\/a>\n           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data-permalink=\"https:\/\/enterpriseam.com\/egypt\/2023\/02\/09\/nigerian-fintech-flutterwave-enters-egypt\/flutterwave-1600px-jpg\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2023\/2\/flutterwave-1600px.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"flutterwave-1600px.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2023\/2\/flutterwave-1600px.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2023\/2\/flutterwave-1600px.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-581405\" class=\"content-area-description single-story post-581405 post type-post status-publish format-standard has-post-thumbnail hentry category-also-on-our-radar tag-agriculture tag-also-on-our-radar tag-automotive tag-bmw tag-contact-financial tag-digitization tag-e-finance tag-enterpriseam tag-fertilizers tag-fintech tag-law tag-non-banking-financial-services tag-startup-watch wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:400;\"><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"\"><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:700;\">STARTUPS-<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:700\">Flutterwave comes to Egypt<\/span><span style=\"\">: Nigerian fintech startup <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/flutterwave.com\/gb\/blog\" style=\"\">Flutterwave<\/a><\/span><span style=\"\"> has obtained <\/span><span>licenses to set up shop in Egypt, it said in a <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/flutterwave.com\/gb\/blog\/flutterwave-expands-into-north-africa-with-new-egypt-payments-licenses\" style=\"\">press release<\/a><\/span><span> yesterday. The approvals will allow Flutterwave \u201cto act as an official payment service provided in the country\u201d by collecting and setting payments locally and abroad. \u201cWe are proud to have been granted the Payment Services Provider and Payment Facilitator licenses in Egypt, which forms part of our international expansion strategy,\u201d Flutterwave CEO Olugbenga Agboola said.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:700;\">NBFS- <\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:700\">Contact partners with BMW\u2019s local agent:<\/span><span style=\"\"> Contact Financial will offer car financing <\/span><span style=\"\">and <\/span><span>ins. to customers of Global Auto Group, BMW\u2019s new agent and importer in Egypt, according to statements out yesterday <\/span><span>(<\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/ent.news\/2023\/2\/Global-Auto-Contact-Financial.pdf\" style=\"\">here<\/a><\/span><span> and <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/ent.news\/2023\/2\/Contact-Financial-Global-Auto-2.8.23.pdf\" style=\"\">here<\/a><\/span><span> \u2014 pdfs<\/span><span>)<\/span><span style=\"font-weight:400;\">.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:700\">REFRESHER-<\/span><span> Global Auto in January <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/enterprise.press\/stories\/2023\/01\/19\/local-bmw-assembly-is-back-courtesy-of-global-auto-group-93973\/\" style=\"\">started assembling BMWs<\/a><\/span><span> in Egypt for the first time in five years,<\/span><span style=\"font-weight:700\"> <\/span><span>soon after BMW Group <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/enterprise.press\/stories\/2022\/11\/30\/the-new-face-of-bmw-in-egypt-89691\/\" style=\"\">handed the firm<\/a><\/span><span> the exclusive rights to import and assemble BMW and Mini cars in the local market. Global Auto<\/span><span> is a joint venture between Kuwait\u2019s Ali Alghanim & Sons Automotive, Saudi Arabia\u2019<\/span><span style=\"font-weight:400;\">s Mohamed Yousuf Naghi Motors and local firms Organi Group and Al Safi Group.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:700;\">INFRASTRUCTURE-<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:700\">e-Finance to spearhead digitization of the fertilizer trade:<\/span><span style=\"\"> EGX-listed fintech player <\/span><span>e-Finance has been chosen by the Agriculture Ministry to operate an electronic system to manage the trade of fertilizers, the company said in <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/ent.news\/2023\/2\/e-finance-Agriculture.pdf\" style=\"\">a statement (pdf)<\/a><\/span><span> yesterday<\/span><span style=\"font-weight:400;\">. The system will automate fertilizer distribution procedures for more than 5.7k agricultural coops, and fertilizer factories and outlets run by the Egyptian Company for Agricultural and Rural Development.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:700;\">LAW- <\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:700\">Clyde & Co lands in Egypt: <\/span><span style=\"\">London-based corporate law firm <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/www.clydeco.com\/en\" style=\"\">Clyde & Co<\/a><\/span><span style=\"\"> has set up <\/span><span>shop in Cairo through its new associate office <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/www.clydeco.com\/en\/locations\/africa\/cairo\" style=\"\">Barakat, Maher & Partners Advocates & Legal Consultants<\/a><\/span><span>, it said in a <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/www.clydeco.com\/en\/about\/news\/2023\/02\/clyde-co-opens-an-associated-office-in-egypt\" style=\"\">statement<\/a><\/span><span> yesterday. The new firm will be headed by Clyde & Co Managing Partner Mohamed Barakat (<\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/www.linkedin.com\/in\/mohamed-barakat-57941a180\/\" style=\"\">LinkedIn<\/a><\/span><span style=\"font-weight:400;\">), who has nearly two decades of experience in the legal profession in the US, Egypt, and Saudi Arabia. It will handle capital markets, corporate and M&A, commercial, arbitration, employment, finance, regulatory, and restructuring cases. <\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:700;\">POLITICS-<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:700\">Authorities have released all detainees arrested during clashes in the Cairo island <\/span><span style=\"font-weight:700\">of El Warraq in 2017<\/span><span>, Rep. Tarek El Kholy, a member of the Presidential Pardons Committee <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/www.facebook.com\/khouly85\/posts\/pfbid0zJ9FJMHx26o67mWzjecuNBVf5MgrDgiTL4nE2YDqyxmXjYASu5Y3QFFBBkabWijxl\" style=\"\">said<\/a><\/span><span> yesterday<\/span><span>. <\/span><span>A number of the island\u2019s<\/span><span style=\"font-weight:400;\"> inhabitants have been detained in recent years following clashes with security forces for opposing the government\u2019s plans to demolish their homes and redevelop the island.<\/span><\/p>\n\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/agriculture\/\">agriculture<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n   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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=\"581407\" class=\"issue-section markets\">\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=\"581407\">\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\">PLANET FINANCE<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2023\/02\/09\/turkey-suspends-stock-market-after-earthquake-triggers-major-sell-off\/\">\r\n                            Turkey suspends stock market after earthquake triggers major sell-off                        <\/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\/02\/09\/turkey-suspends-stock-market-after-earthquake-triggers-major-sell-off\/\" target=\"_blank\">\n                    Open in new tab                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/new-tab.svg\" alt=\"\"> -->\n   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post-581407 post type-post status-publish format-standard hentry category-planet-finance tag-capital-markets tag-enterpriseam tag-financial-markets tag-planet-finance tag-totalenergies tag-trade 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_408150\"\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\/408151.svg\" alt=\"\" class=\"wp-image-408151\"\/><\/figure>\n<\/div><\/div>\n<\/div><\/div>\n\t\t\t<\/div>\r\n\t\t<\/aside>\n<figure class=\"wp-block-audio mb-0\"><audio controls preload=\"metadata\" src=\"https:\/\/s3.us-east-1.amazonaws.com\/ent.news\/audio\/2023\/2\/.bd558adc-d70d-4510-8744-f3d73ceed022.mp3\"><\/audio><\/figure><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:400;\"><\/span><\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:400;\"><\/span><\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:400;\"><\/span><\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:400;\"><\/span><\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:700\">Maersk expects a major correction this year after bumper earnings in 2022: <\/span><span style=\"\">Danish <\/span><span>shipping giant Maersk, widely considered a barometer for global trade,<\/span><span style=\"font-weight:700\"> <\/span><span>forecasts that underlying operating profits (EBIT) will plunge to USD 2-5 bn this year from a record USD 31 bn in 2022 as the shipping boom ends, the<\/span><span><a href=\"https:\/\/www.ft.com\/content\/85837f5d-4416-4069-be39-8ec8e6b0255e\" style=\"\"><\/a><\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/www.ft.com\/content\/85837f5d-4416-4069-be39-8ec8e6b0255e\" style=\"\">Financial Times<\/a><\/span><span> reports. Last year\u2019s earnings \u2014 <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/www.cnbc.com\/2023\/02\/08\/maersk-q4-earnings-2022.html#:~:text=Maersk%20projects%20that%20the%20global,and%20%2411%20billion%20in%202023.\" style=\"\">the highest in the company\u2019s history<\/a><\/span><span> \u2014<\/span><span> were buoyed by soaring freight rates triggered by pandemic-related supply chain snarls. But a massive correction is now expected as freight rates normalize and demand for global containers falls, with clients now dealing with oversupply. \u201cWhen this congestion goes away, you get more goods, your warehouses are full, your inventory is high,\u201d Maersk CEO Vincent Clerc told the FT.<\/span><\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:700\">Turkey\u2019s bourse suspended trading yesterday for the first time in 24 years <\/span><span style=\"\">as <\/span><span>stocks plummeted in the wake of this week\u2019s devastating earthquakes.<\/span><span style=\"font-weight:700\"> <\/span><span>The exchange will be closed for five days after a selloff erased USD 35 bn from the main equities gauge, according to <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/www.bloomberg.com\/news\/articles\/2023-02-08\/turkey-suspends-trading-in-stock-market-as-rout-deepened#xj4y7vzkg\" style=\"\">Bloomberg<\/a><\/span><span style=\"font-weight:400;\">.<\/span><\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:700;\">ALSO WORTH NOTING<\/span><\/p><ul>\n<li><span style=\"font-weight:700\">TotalEnergies is the latest energy firm to register bumper earnings in 2022: <\/span><span>Oil and gas giant TotalEnergies\u2019 adjusted bottom line doubled y-o-y to USD 36.2 bn in 2022 on higher oil and gas prices. (<\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/ent.news\/2023\/2\/TotalEnergies_4Q22_Results.pdf\" style=\"\">Statement, pdf<\/a><\/span><span style=\"font-weight:400;\">)<\/span><\/li>\n<li><span style=\"font-weight:700\">Uber beats estimates:<\/span><span style=\"\"> Uber\u2019s revenues rose 47% to USD 8.6 bn in 4Q 2022, <\/span><span>beating an estimate of USD 8.49 bn. The company\u2019s shares rose 5.5% on the news. (<\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/www.businesswire.com\/news\/home\/20230208005139\/en\/Uber-Announces-Results-for-Fourth-Quarter-and-Full-Year-2022\" style=\"\">Statement<\/a><\/span><span style=\"font-weight:400;\">)<\/span><\/li>\n<li><span style=\"font-weight:700\">The UK could torpedo the biggest gaming acquisition ever: <\/span><span style=\"\">Microsoft\u2019s USD <\/span><span>75 bn acquisition of Call of Duty maker Activision Blizzard would hurt competition in the gaming market, the UK\u2019s competition watchdog said yesterday. (<\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/www.gov.uk\/government\/news\/microsoft-activision-deal-could-harm-uk-gamers\" style=\"\">Statement<\/a><\/span><span style=\"font-weight:400;\">)<\/span><\/li>\n<\/ul><p><a id=\"t.46ad3b0c271914570aea8b50d17fcdb2ecc4c84f\"><\/a><a id=\"t.0\"><\/a><\/p><div class=\"stock-ticker-panel\">\n<table class=\"table stock-ticker-table table-striped markets-table\">\n<tr class=\"tr-row-up\">\n<td class=\"td-list-up\">\n<p><svg class=\"e-icon e-TypeMarkets11\"><use xlink:href=\"#e-TypeMarkets11\"><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.0;text-align:left\"><span style=\"font-weight:700\">EGX30 <\/span><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.0;text-align:left\"><span style=\"font-weight:400;\">16,948<\/span><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.0;text-align:left\"><span style=\"font-weight:400;\">+0.3% (YTD: +16.1%)<\/span><\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-up\">\n<td class=\"td-list-up\">\n<p><svg class=\"e-icon e-TypeMarkets11\"><use xlink:href=\"#e-TypeMarkets11\"><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.0;text-align:left\"><span style=\"font-weight:700\">USD (CBE)<\/span><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.0;text-align:left\"><span style=\"font-weight:400;\">Buy 30.33<\/span><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.0;text-align:left\"><span style=\"font-weight:400;\">Sell 30.43<\/span><\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-up\">\n<td class=\"td-list-up\">\n<p><svg class=\"e-icon e-TypeMarkets11\"><use xlink:href=\"#e-TypeMarkets11\"><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.0;text-align:left\"><span style=\"font-weight:700\">USD at CIB<\/span><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.0;text-align:left\"><span style=\"font-weight:400;\">Buy 30.32<\/span><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.0;text-align:left\"><span style=\"font-weight:400;\">Sell 30.42<\/span><\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-none\">\n<td class=\"td-list-none\">\n<p><svg class=\"e-icon e-TypeMarkets\"><use xlink:href=\"#e-TypeMarkets\"><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.0;text-align:left\"><span style=\"font-weight:700;\">Interest rates CBE<\/span><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.0;text-align:left\"><span style=\"font-weight:400;\">16.25% deposit<\/span><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.0;text-align:left\"><span style=\"font-weight:400;\">17.25% lending<\/span><\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-up\">\n<td class=\"td-list-up\">\n<p><svg class=\"e-icon e-TypeMarkets11\"><use xlink:href=\"#e-TypeMarkets11\"><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.0;text-align:left\"><span style=\"font-weight:700\">Tadawul<\/span><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.0;text-align:left\"><span style=\"font-weight:400;\">10,508<\/span><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.0;text-align:left\"><span style=\"font-weight:400;\">+0.4% (YTD: +0.3%)<\/span><\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-none\">\n<td class=\"td-list-none\">\n<p><svg class=\"e-icon e-TypeMarkets\"><use xlink:href=\"#e-TypeMarkets\"><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.0;text-align:left\"><span style=\"font-weight:700\">ADX<\/span><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.0;text-align:left\"><span style=\"font-weight:400;\">10,008<\/span><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.0;text-align:left\"><span style=\"font-weight:400;\">0.0% (YTD: -2.0%)<\/span><\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-up\">\n<td class=\"td-list-up\">\n<p><svg class=\"e-icon e-TypeMarkets11\"><use xlink:href=\"#e-TypeMarkets11\"><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.0;text-align:left\"><span style=\"font-weight:700\">DFM<\/span><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.0;text-align:left\"><span style=\"font-weight:400;\">3,417<\/span><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.0;text-align:left\"><span style=\"font-weight:400;\">+0.4% (YTD: +2.4%)<\/span><\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-down\">\n<td class=\"td-list-down\">\n<p><svg class=\"e-icon e-TypeMarkets1\"><use xlink:href=\"#e-TypeMarkets1\"><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.0;text-align:left\"><span style=\"font-weight:700\">S&amp;P 500<\/span><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.0;text-align:left\"><span style=\"font-weight:400;\">4,118<\/span><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.0;text-align:left\"><span style=\"font-weight:400;\">-1.1% (YTD: +7.3%)<\/span><\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-up\">\n<td class=\"td-list-up\">\n<p><svg class=\"e-icon e-TypeMarkets11\"><use xlink:href=\"#e-TypeMarkets11\"><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.0;text-align:left\"><span style=\"font-weight:700\">FTSE 100<\/span><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.0;text-align:left\"><span style=\"font-weight:400;\">7,885<\/span><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.0;text-align:left\"><span style=\"font-weight:400;\">+0.3% (YTD: +5.8%)<\/span><\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-none\">\n<td class=\"td-list-none\">\n<p><svg class=\"e-icon e-TypeMarkets\"><use xlink:href=\"#e-TypeMarkets\"><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.0;text-align:left\"><span style=\"font-weight:700\">Euro Stoxx 50<\/span><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.0;text-align:left\"><span style=\"font-weight:400;\">4,209<\/span><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.0;text-align:left\"><span style=\"font-weight:400;\">0.0% (YTD: +11.0%)<\/span><\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-up\">\n<td class=\"td-list-up\">\n<p><svg class=\"e-icon e-TypeMarkets11\"><use xlink:href=\"#e-TypeMarkets11\"><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.0;text-align:left\"><span style=\"font-weight:700\">Brent crude<\/span><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.0;text-align:left\"><span style=\"font-weight:400;\">USD 85.13        <\/span><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.0;text-align:left\"><span style=\"font-weight:400;\">+1.7%<\/span><\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-down\">\n<td class=\"td-list-down\">\n<p><svg class=\"e-icon e-TypeMarkets1\"><use xlink:href=\"#e-TypeMarkets1\"><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.0;text-align:left\"><span style=\"font-weight:700\">Natural gas <\/span><span style=\"font-weight:400;\">(Nymex)<\/span><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.0;text-align:left\"><span style=\"font-weight:400;\">USD 2.41<\/span><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.0;text-align:left\"><span style=\"font-weight:400;\">-6.6%<\/span><\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-up\">\n<td class=\"td-list-up\">\n<p><svg class=\"e-icon e-TypeMarkets11\"><use xlink:href=\"#e-TypeMarkets11\"><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.0;text-align:left\"><span style=\"font-weight:700;\">Gold<\/span><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.0;text-align:left\"><span style=\"font-weight:400;\">USD 1,888.10<\/span><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.0;text-align:left\"><span style=\"font-weight:400;\">+0.2%<\/span><\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-down\">\n<td class=\"td-list-down\">\n<p><svg class=\"e-icon e-TypeMarkets1\"><use xlink:href=\"#e-TypeMarkets1\"><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.0;text-align:left\"><span style=\"font-weight:700\">BTC<\/span><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.0;text-align:left\"><span style=\"font-weight:400;\">USD 22,962<\/span><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.0;text-align:left\"><span style=\"font-weight:400;\">-1.0% (YTD: +38.5%)<\/span><\/p>\n<\/td>\n<\/tr>\n<\/table>\n<\/div><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:700\">THE CLOSING BELL-<\/span><\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:700\">The EGX30 rose 0.3% at yesterday\u2019s close<\/span><span style=\"\"> on turnover of EGP 1.93 bn (5.1% above the <\/span><span style=\"\">90-day<\/span><span style=\"font-weight:400;\"> average). Regional investors were net buyers. The index is up 16.1% YTD.<\/span><\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:700\">In the green: <\/span><span style=\"font-weight:400;\">Mopco (+3.0%), Abu Qir Fertilizers (+2.1%) and CIB (+1.9%).<\/span><\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:700\">In the red: <\/span><span>Abu Dhabi Islamic Bank Egypt (-5.2%), Juhayna (-5.1%) and Qalaa Holdings (-3.9%).<\/span><\/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\/capital-markets\/\">capital markets<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/financial-markets\/\">Financial Markets<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/planet-finance\/\">Planet Finance<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/totalenergies\/\">TotalEnergies<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/trade\/\">trade<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                    <\/div>\n    <\/div>\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"581409\" 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=\"581409\">\r\n            \r\n                <div class=\"issue-story-header text-center\">\r\n                    <div class=\"index-number\">11<\/div>\r\n\r\n                    <p class=\"f-graphik\">Diplomacy<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2023\/02\/09\/breakthrough-in-talks-on-libya-foreign-fighters\/\">\r\n                            Breakthrough in talks on Libya foreign fighters                        <\/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\/02\/09\/breakthrough-in-talks-on-libya-foreign-fighters\/\" 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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Under the Egypt-brokered agreement, the 5+5 Joint Military Commission \u2014 composed of leaders from opposing sides of the country\u2019s recent civil war \u2014 will coordinate on the withdrawal of mercenary groups. \u201cWhat you have achieved here is an important step toward achieving sustainable stability and peace in Libya, in neighboring countries and the region in general,\u201d UN Libya envoy Abdoulaye Bathily said.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:700\">Reminder: The US has been pushing for Russian mercenaries to leave the country.<\/span><span style=\"\"> <\/span><span style=\"font-weight:400;\">Washington has been putting pressure on Egypt to push Libyan officials to cut ties with Russia\u2019s Wagner Group, a private military contractor with close ties to the Kremlin. Wagner fighters have been in Libya for several years where they have reportedly been deployed to assist forces linked to eastern military commander, Khalifa Haftar.<\/span><\/p>\n\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/diplomacy\/\">DIPLOMACY<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/libya\/\">Libya<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/politics\/\">politics<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                    <\/div>\n    <\/div>\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"581411\" 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=\"581411\">\r\n            \r\n                <div class=\"issue-story-header text-center\">\r\n                    <div class=\"index-number\">12<\/div>\r\n\r\n                    <p class=\"f-graphik\">My Morning Routine<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2023\/02\/09\/my-morning-routine-karim-el-deeb-coo-bosta\/\">\r\n                            My Morning Routine: Karim El Deeb, COO, Bosta                        <\/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\/02\/09\/my-morning-routine-karim-el-deeb-coo-bosta\/\" 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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Speaking to us this week is Karim El Deeb (<\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/www.linkedin.com\/in\/karim-eldeeb-a963a138\/\" style=\"\">LinkedIn<\/a><\/span><span style=\"\">), chief operating officer of logistics startup <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/bosta.co\/\" style=\"\">Bosta<\/a><\/span><span style=\"\">. <\/span><span>Edited excerpts from our conversation:<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:700\">My name is Karim El Deeb, and I am the COO of Bosta.<\/span><span style=\"font-weight:400;\"> I'm a telecom engineer, so I graduated and started working in telecoms immediately in the technology department. Then I joined Huawei in Dubai. Over time, I realized that tech isn't my thing and that I'm better at operations, commercial, and other areas that require business skills.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:700\">I wanted to try a different field, which is tricky when your entire experience has been in a single specialization.<\/span><span style=\"font-weight:400;\"> You're not a junior because you have nine years of experience, but companies won\u2019t hire you as a senior because you lack relevant experience. So I was fortunate when Careem decided to hire me in 2017.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:700\">Startups are a new experience for everyone<\/span><span style=\"font-weight:400;\">, and you end up working with a diverse group of people who may have little in common. I started working at Careem and advanced through the ranks, eventually becoming the director of operations for Egypt. That's when I went from being a telecom engineer to a business guy. Then, in July 2020, I joined Bosta.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:700\">Bosta's goal is to empower e-commerce players. <\/span><span style=\"font-weight:400;\">While a traditional courier company is looking to serve the big players, there are many smaller players. According to research, Egypt has between 300k-600k e-commerce sellers. So who looks after these people? Not only as a courier service but also in all other capacities \u2014 creating their websites, handling their payments, tracking deliveries, storing their products, getting products from abroad, inventory management, and other services. We help smaller sellers with technology and also offer courier services to the big players. We currently operate in Egypt and Saudi Arabia.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:700\">My job is to ensure the implementation of this vision through the team. <\/span><span style=\"font-weight:400;\">My targets are revenue and bottom lines. But my main responsibility is ensuring everyone does their part to meet these targets by giving directions and making decisions. I lead the commercial and operational aspects, as well as the customer service and data teams. I couldn't function without the data team; I speak with them every morning.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:700\">I wake up around 7.30-8am, have a small snack, and then head to the gym next to my house.<\/span><span style=\"font-weight:400;\"> I work out for 45 minutes, and then I start work immediately. I work from home on Sundays and Thursdays and in the office on Mondays, Tuesdays, and Wednesdays \u2014 that's when we have face-to-face meetings and brainstorming sessions. Sunday and Thursday are reserved for Zoom meetings with the team abroad.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:700\">I don't drive to work; I take Careem \u2014 out of loyalty to my former company [laughs].<\/span><span style=\"font-weight:400;\"> If I don't have morning calls or emails to address, I read Enterprise or catch up on the previous day's Bloomberg Technology, which gives you a market brief and always has an interesting interview. <\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:700\">At startups, no two days are alike.<\/span><span style=\"font-weight:400;\"> The company grows and changes every year, with new problems and a new team structure. During the initial growth stage we needed teams focused on new products. Now the focus is on profitability, so we need a structure focused on efficiency. It varies depending on the priorities at the time.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:700\">The one constant in my day is that I have to look at a snapshot of how the previous day closed<\/span><span style=\"font-weight:400;\"> in terms of volumes, active merchants, leads, signups, pickups, and KPIs in Egypt and Saudi.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:700\">Writing helps me stay focused and organized.<\/span><span style=\"font-weight:400;\"> I'm old school, and I keep a notebook. I used to write my tasks daily, but I found out that weekly lists are more efficient. I prepare it every Sunday morning or Saturday night, and whenever a new action point arises, I add it to the list. I then review my tasks daily to see what has been accomplished and is yet to be done.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:700\">On a professional level, I want to see Bosta become a recognized regional brand.<\/span><span style=\"font-weight:400;\"> You know how certain brands come to mind when you think of shipping or e-commerce? I want Bosta to be the first thing people think of if they want to start an e-commerce business.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:700\">On a personal level, all I want is for my son, Ali, to be happy and healthy. <\/span><span style=\"font-weight:400;\">If he's good, I'm good.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:700\">I had a bad work-life balance experience until I realized its importance.<\/span><span style=\"font-weight:400;\"> People believe balance is beneficial only for their quality of life, but it is also essential for their quality of work. If you don't disconnect, you won't be able to function at your best. I divide my time into slots. Specific slots are reserved for my son when I leave work no matter what's going on \u2014 unless there's a crisis. For example, on Wednesdays and Thursdays, I switch off from work at around 5-6pm, and spend time with Ali. We watch movies or play video games together. On other days like Sundays, I can work until 8-9pm.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:700\">It's also crucial for me to catch up with my friends.<\/span><span style=\"font-weight:400;\"> I need a slot on Thursday or Friday to meet up with friends. If I miss this one day, the entire following week will be miserable. On Saturday mornings, for example, we have to go outdoors and get some sun.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:700\">I don't turn on my laptop during the weekend. <\/span><span style=\"font-weight:400;\">I work out daily on weekdays, track my calories on my watch, and try to eat healthy. Then, at midnight on Thursday, I set a weekly alarm to turn off my watch for the weekend \u2014 no notifications, no calorie-tracking, and no exercise. Fridays and Saturdays are my rest days.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:700\">When I'm done with work, I go out or watch shows on Netflix.<\/span><span style=\"\"> I've started listening to a new podcast called <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/podcasts.apple.com\/us\/podcast\/you-are-not-so-smart\/id521594713\" style=\"\">You Are Not So Smart,<\/a><\/span><span style=\"\"> and I love the documentary series <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/www.imdb.com\/title\/tt8420184\/\" style=\"\">The Last Dance<\/a><\/span><span style=\"\"> \u2014 I\u2019ve watched it three times.<\/span><span style=\"font-weight:400;\"> I really enjoy documentaries, but I only watch them in the morning. At night, I like to watch simple shows that require no thinking, so I can truly disconnect.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:700\">Nothing is permanent, good or bad.<\/span><span style=\"\"> I believe it was my grandmother who gave me this advice. Don't take your current health for granted; it may not last forever. If you're down or something isn't working, don't worry, it won't last forever, and things will get better soon. In the end, nothing is permanent.<\/span><\/p>\n\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/bosta\/\">Bosta<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/my-morning-routine\/\">MY MORNING ROUTINE<\/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=\"581413\" 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\/02\/09\/581413\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-581413\" class=\"content-area-description single-story post-581413 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> <\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:700\">FEBRUARY<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:400;\">11 February (Saturday): Second semester of 2022-2023 academic year begins for public universities.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:400;\">12 February (Sunday): The House reconvenes.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span>13-15 February (Monday-Wednesday): The <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/www.egyps.com\/\" style=\"\">Egypt Petroleum Show (Egyps)<\/a><\/span><span style=\"font-weight:400;\">, Egypt International Exhibition Center, Cairo.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span>13-15 (Monday-Wednesday): <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/www.worldgovernmentsummit.org\/events\/world-government-summit-2023\" style=\"\">World Government Summit<\/a><\/span><span style=\"font-weight:400;\">, Dubai.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:400;\">19 February (Sunday): Senate reconvenes. <\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:400;\">23-27 February (Thursday-Monday): Annual Business Women of Egypt\u2019s Women for Success conference. <\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:700;\">MARCH <\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:400;\">March: 4Q2022 earnings season.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span>3 March (Friday): Journalists\u2019 Syndicate midterm elections.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span>5 March (Sunday) <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/nef.nub.edu.eg\/\" style=\"\">Nahda Economic Forum<\/a><\/span><span>, <\/span><span>Intercontinental Cairo Semiramis<\/span><span style=\"font-weight:400;\">. <\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:400;\">6-9 March (Monday-Thursday): EFG Hermes One-on-One conference, Atlantis, Dubai.  <\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:400;\">21-22 March (Tuesday-Wednesday): Federal Reserve interest rate meeting. <\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:400;\">23 March (Thursday): First day of Ramadan (TBC). Maghreb will be at 6:08pm CLT.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:400;\">30 March (Thursday): Central Bank of Egypt\u2019s Monetary Policy Committee meeting.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:700;\">APRIL <\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span>April: GAFI<\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/www.alborsaanews.com\/2023\/01\/20\/1623257\" style=\"\">to launch<\/a><\/span><span style=\"font-weight:400;\"> the country\u2019s first integrated electronic platform to facilitate setting up a business.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:400;\">1 April (Saturday): Deadline for banks to establish sustainability units.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:400;\">10-16 April (Monday-Sunday): IMF \/ World Bank Spring Meetings, Marrakesh, Morocco.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:400;\">16 April (Sunday): Coptic Easter<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:400;\">17 April (Monday): Sham El Nessim. <\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:400;\">21 April (Friday): Eid El Fitr (TBC).<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:400;\">25 April (Tuesday): Sinai Liberation Day.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:400;\">27 April (Thursday): National holiday in observance of Sinai Liberation Day (TBC).<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:400;\">30 April (Sunday): Deadline for self-employed to register for e-invoicing. <\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:400;\">30 April (Sunday): End of Mediterranean, Nile Delta oil + gas exploration tender. <\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:400;\">Late April \u2013 15 May: 1Q2023 earnings season.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:700;\">MAY <\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:400;\">1 May (Monday): Labor Day.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:400;\">2-3 May (Tuesday-Wednesday): Federal Reserve interest rate meeting. <\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:400;\">4 May (Thursday): National holiday in observance of Labor Day (TBC). <\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span>4 May (Thursday): <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/www.ief.org\/events\/8th-ief-igu-ministerial-gas-forum\" style=\"\">IEF-IGU Ministerial Gas Forum<\/a><\/span><span style=\"font-weight:400;\">, Cairo. <\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span>16-18 May (Tuesday-Thursday): Egypt will host <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/ent.news\/2023\/2\/CDIS-Press-Release-EN.pdf\" style=\"\">its first conference<\/a><\/span><span style=\"font-weight:400;\">on cybersecurity and defense intelligence systems (CDIS-Egypt).<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:400;\">18 May (Thursday): Central Bank of Egypt\u2019s Monetary Policy Committee meeting.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span>20-21 May (Saturday-Sunday): <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/www.eglobexpo.com\/\" style=\"\">eGlob Expo<\/a><\/span><span style=\"font-weight:400;\">, St. Regis Almasa Hotel, Cairo.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span>22-26 May (Monday-Friday): Egypt <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/www.afdb.org\/en\/news-and-events\/press-releases\/african-development-bank-group-concludes-annual-meetings-governors-endorse-banks-vision-next-10-years-51974#:~:text=The%20new%20Board%20of%20Governors,from%2022%2D26%20May%202023.\" style=\"\">will host<\/a><\/span><span style=\"font-weight:400;\"> the African Development Bank (AfDB) annual meetings in Sharm El Sheikh.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:700;\">JUNE <\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:400;\">7-10 (Wednesday-Saturday): The second edition of Africa Health Excon. <\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span>10 June (Saturday): Thanaweya Amma examinations <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/moe.gov.eg\/what-s-on\/news\/dates-for-the-exams\/\" style=\"\">begin<\/a><\/span><span style=\"font-weight:400;\">.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:400;\">13-14 June (Tuesday-Wednesday): Federal Reserve interest rate meeting. <\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span>19-21 June (Monday-Wednesday): Egypt Infrastructure and Water Expo <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/ent.news\/2022\/9\/Announcement__EGYPT_INFRASTRUCTURE_AND_WATER_EXPO_LAUNCHES_JUNE_2023.pdf\" style=\"\">debuts<\/a><\/span><span style=\"font-weight:400;\"> at the Egypt International Exhibition Center. <\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:400;\">22 June (Thursday): Central Bank of Egypt\u2019s Monetary Policy Committee meeting.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:400;\">28 June-2 July (Wednesday-Sunday): Eid El Adha (TBC).<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:400;\">30 June (Friday): June 30 Revolution Day.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:700\">JULY <\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:400;\">18 July (Tuesday): Islamic New Year.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:400;\">20 July (Thursday): National holiday in observance of Islamic New Year (TBC).<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:400;\">23 July (Sunday): Revolution Day. <\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:400;\">25-26 July (Tuesday-Wednesday): Federal Reserve interest rate meeting. <\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:400;\">27 July (Thursday): National holiday in observance of Revolution Day.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:400;\">Late July-14 August: 2Q2023 earnings season.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:700;\">AUGUST <\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:400;\">3 August (Thursday): Central Bank of Egypt\u2019s Monetary Policy Committee meeting.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:700\">SEPTEMBER <\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:400;\">19-20 September (Tuesday-Wednesday): Federal Reserve interest rate meeting. <\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:400;\">21 September (Thursday): Central Bank of Egypt\u2019s Monetary Policy Committee meeting.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:400;\">26 September (Tuesday): Prophet Muhammad\u2019s birthday (TBC).<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:400;\">28 September (Thursday): National holiday in observance of Prophet Muhammad\u2019s birthday (TBC).<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:700;\">OCTOBER <\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:400;\">6 October (Friday): Armed Forces Day.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:400;\">Late October-14 November: 3Q2023 earnings season.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:400;\">31 October - 1 November (Tuesday-Wednesday): Federal Reserve interest rate meeting. <\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:700;\">NOVEMBER <\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:400;\">2 November (Thursday): Central Bank of Egypt\u2019s Monetary Policy Committee meeting.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:700;\">DECEMBER <\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:400;\">12-13 December (Tuesday-Wednesday): Federal Reserve interest rate meeting. <\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:400;\">21 December (Thursday): Central Bank of Egypt\u2019s Monetary Policy Committee meeting.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:700\">EVENTS WITH NO SET DATE <\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"\">2023: The inauguration of the Grand Egyptian Museum.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span>2023: Egypt <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/www.facebook.com\/EgyptianCabinet\/posts\/380561820780911\" style=\"\">will host<\/a><\/span><span style=\"font-weight:400;\"> the Asian Infrastructure Investment Bank\u2019s Annual Meeting of the Board of Governors in 2023. <\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:400;\">1Q 2023: Adnoc Distribution\u2019s acquisition of 50% of TotalEnergies Egypt to close.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:400;\">1Q 2023: Egypt + Qatar to launch joint business forum. <\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span>1Q 2023: FRA to introduce <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/enterprise.press\/stories\/2022\/12\/05\/this-morning-the-enterprise-climate-x-forum-is-happening-tomorrow-its-pmi-today-90236\/\" style=\"\">new rules<\/a><\/span><span style=\"font-weight:400;\"> for short selling.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span>1Q 2023: Internal trade database to <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/hapijournal.com\/?p=212185\" style=\"\">launch<\/a><\/span><span style=\"font-weight:400;\">.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span>1Q 2023: The Madbouly government <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/enterprise.press\/stories\/2023\/01\/25\/govt-to-decide-on-hotel-privatization-within-two-months-94552\/\" style=\"\">will choose<\/a><\/span><span style=\"font-weight:400;\"> which state-owned hotels will be merged into a new hotels company ahead of an offering to foreign and Gulf investors.<\/span><\/p>\n\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n","protected":false},"excerpt":{"rendered":"","protected":false},"featured_media":581382,"menu_order":0,"template":"","categories":[],"tags":[],"class_list":["post-581381","issue","type-issue","status-publish","has-post-thumbnail","hentry","wpautop","entry"],"acf":{"mongo_id":"063958e5-3b37-411f-b571-0cc550bc253e","teaser":"","photo_url":"https:\/\/ent.news\/2023\/2\/160.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>Privatization program 2.0: Gov\u2019t to sell stakes in 32 companies by 1Q 2024 - 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\/privatization-program-2-0-govt-to-sell-stakes-in-32-companies-by-1q-2024\/\" \/>\n<meta property=\"og:locale\" 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