{"id":581645,"date":"2023-02-19T00:00:00","date_gmt":"2023-02-19T00:00:00","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/?post_type=issue&#038;p=581645"},"modified":"2025-12-16T12:54:08","modified_gmt":"2025-12-16T12:54:08","slug":"investment-banks-to-wrap-up-sukuk-roadshow-tomorrow","status":"publish","type":"issue","link":"https:\/\/enterpriseam.com\/egypt\/issues\/investment-banks-to-wrap-up-sukuk-roadshow-tomorrow\/","title":{"rendered":"Investment banks to wrap up sukuk roadshow tomorrow"},"content":{"rendered":"<section id=\"581647\" 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=\"581647\">\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\/19\/this-morning-investors-to-wrap-up-sukuk-roadshow-tomorrow\/\">\r\n                            Egypt to wrap up sukuk roadshow tomorrow                        <\/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\/19\/this-morning-investors-to-wrap-up-sukuk-roadshow-tomorrow\/\" target=\"_blank\">\n                    Open in new tab                    <!-- <img 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tag-enterpriseam tag-infrastructure tag-ma-watch tag-sukuk tag-what-were-tracking-today 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\/.c5d2d1ee-babb-4d52-b752-6a50a7ad8195.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;\"><\/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=\"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=\"font-weight:700\">Good morning, wonderful people, and happy Sunday. <\/span><span>We hope your weekend was relaxing and that you\u2019re looking forward to a productive week. <\/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\">We\u2019re very happy this morning to welcome <\/span><span style=\"-webkit-text-decoration-skip:none;font-weight:700;text-decoration-skip-ink:none\"><a href=\"https:\/\/www.grantthornton.global\/en\/locations\/Egypt\/\" style=\"\">Saleh, Barsoum & Abdel Aziz (Grant<\/a><\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;font-weight:700;\"><a href=\"https:\/\/www.grantthornton.global\/en\/locations\/Egypt\/\" style=\"\">Thornton)<\/a><\/span><span style=\"font-weight:700\"> to EnterpriseAM<\/span><span> as the sponsor of our popular Also on Our Radar section, which offers an essential roundup of headlines you need to know across a wide range of industries. Saleh, Barsoum & Abdel Aziz was established by three school friends in 1953 and have transformed from a traditional auditor into a full-fledged regional advisory firm. In 2022, the firm <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/www.grantthornton.global\/en\/press-releases\/press-releases-2022\/Grant-Thornton-strengthens-capabilities-in-Egypt\/\" style=\"\">partnered with global major Grant Thornton International<\/a><\/span><span style=\"font-weight:400;\"> to expand its services and footprint. Saleh, Barsoum & Abdel Aziz (Grant Thornton)\u2019s practice areas include bespoke advisory, audit, and tax services. <\/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\">EnterpriseAM remains available without charge to more than 300k readers thanks to the <\/span><span style=\"font-weight:700\">generous financial support of our advertisers<\/span><span style=\"font-weight:400;\">, including our friends at Saleh, Barsoum & Abdel Aziz (Grant Thornton).<\/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\">PSA #1- Did you catch the <\/span><span style=\"-webkit-text-decoration-skip:none;font-weight:700;text-decoration-skip-ink:none\"><a href=\"https:\/\/enterprise.press\/weekends\/enterprise-weekend-want-to-buy-a-car-heres-whats-actually-available\/\" style=\"\">Enterprise Weekend Edition<\/a><\/span><span style=\"font-weight:700\"> on Friday? <\/span><span style=\"\">This past weekend\u2019s <\/span><span>edition includes our essential <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/enterprise.press\/stories\/2023\/02\/16\/today-lots-of-investment-and-oil-and-gas-and-news-look-out-for-our-first-sovereign-sukuk-97236\/\" style=\"\">three-minute rundown<\/a><\/span><span> on last week\u2019s big stories, a look at <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/enterprise.press\/stories\/2023\/02\/16\/so-you-want-to-buy-a-new-car-do-you-have-any-options-at-all-right-now-heres-the-state-of-play-as-of-february-2023-97237\/\" style=\"\">which<\/a><\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/enterprise.press\/stories\/2023\/02\/16\/so-you-want-to-buy-a-new-car-do-you-have-any-options-at-all-right-now-heres-the-state-of-play-as-of-february-2023-97237\/\" style=\"\">2023 model year cars you can actually buy<\/a><\/span><span> in Egypt right now, and a wonderful rant about the need for us all to <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/enterprise.press\/stories\/2023\/02\/16\/shit-and-run-or-why-you-need-to-stop-worrying-and-learn-to-love-the-pooper-scooper-97240\/\" style=\"\">pick up after our fur babies<\/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;\"><\/p>\n<hr style=\"height:2px;border-width:0;color:gray;background-color:gray\">\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\">PSA #2- It doesn\u2019t seem likely you\u2019re going to get access this week to Microsoft\u2019s new <\/span><span style=\"font-weight:700\">Bing AI chatbot-powered search \u2014 if only because it seems likely Bing loves you \/ wants to hurt you \/ is plotting to divorce you from your spouse. <\/span><span style=\"font-weight:400;\">Microsoft admitted over the weekend that long interactions with its Bing chatbot (powered by an advanced version of the large language model behind ChatGPT) can start to go sideways \u2014 particularly if you ask Bing nasty questions or otherwise prompt it to talk to you as \u201cSydney,\u201d its dark alter ego. <\/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, dark alter ego. We\u2019re not joking. <\/span><span style=\"font-weight:400;\">Check out:<\/span><\/p>\n<ul>\n<li><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/stratechery.com\/2023\/from-bing-to-sydney-search-as-distraction-sentient-ai\/\" style=\"\">Ben Thompson gets Bing to reveal Sydney and Venom<\/a><\/span><\/li>\n<li><span>Bing\u2019s AI Chat tells the NYT\u2019s Kevin Roose, <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/www.nytimes.com\/2023\/02\/16\/technology\/bing-chatbot-microsoft-chatgpt.html\" style=\"\">\u201cI Want to Be Alive. ?\u201d<\/a><\/span><span> (You can <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/www.nytimes.com\/2023\/02\/16\/technology\/bing-chatbot-transcript.html\" style=\"\">read the full, kinda creepy chat here<\/a><\/span><span style=\"font-weight:400;\">)<\/span><\/li>\n<li><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/www.theverge.com\/2023\/2\/15\/23599072\/microsoft-ai-bing-personality-conversations-spy-employees-webcams\" style=\"\">Microsoft\u2019s Bing is an emotionally manipulative liar, and people love it<\/a><\/span><span style=\"font-weight:400;\"> (The Verge)<\/span><\/li>\n<\/ul>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:700\">PSA #3- Does the idea of a life of subservience to our AI overlords have you down? This <\/span><span style=\"font-weight:700\">is the perfect palate cleanser: <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/appleinsider.com\/articles\/23\/02\/14\/ted-lasso-returns-to-apple-tv-on-march-15?utm_source=pocket_reader\" style=\"\">Ted Lasso is due back on 15 March<\/a><\/span><span style=\"font-weight:400;\"> for season three on Apple TV+ \u2014 and there\u2019s growing chatter in the entertainment press that it may not be the last season, after all.<\/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;\">THREE STORIES TO KEEP AN EYE ON-<\/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\">#1- A decision on our maiden sukuk issuance could come tomo<\/span><span style=\"font-weight:700\">rrow:<\/span><span style=\"\"> <\/span><span>Investment banks<\/span><span> a<\/span><span>re expected to finish three days of calls with investors regarding <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/enterprise.press\/stories\/2023\/02\/16\/today-lots-of-investment-and-oil-and-gas-and-news-look-out-for-our-first-sovereign-sukuk-97236\/\" style=\"\">a potential<\/a><\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/enterprise.press\/stories\/2023\/02\/16\/today-lots-of-investment-and-oil-and-gas-and-news-look-out-for-our-first-sovereign-sukuk-97236\/\" style=\"\">sukuk issuance<\/a><\/span><span> by Egypt on Monday, <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/www.bloomberg.com\/news\/articles\/2023-02-17\/egypt-to-start-investor-meetings-for-debut-islamic-bond-sale\" style=\"\">Bloomberg<\/a><\/span><span> reports, citing unnamed sources it says are familiar with the transaction. The business information service says it understands that the country is planning to sell a benchmark-sized USD-denominated sukuk \u2014 usually at least around USD 500 mn \u2014 with a three-year tenor. Anonymous sources had <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/www.bloomberg.com\/news\/articles\/2023-02-15\/egypt-mulls-selling-up-to-1-5-billion-in-debut-sukuk-next-week\" style=\"\">told Bloomberg<\/a><\/span><span> last week that the government was looking to raise up to USD 1.5 bn from the issuance, <\/span><span style=\"\">while Moody\u2019s has rated <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/enterprise.press\/stories\/2023\/02\/16\/this-morning-sovereign-sukuk-as-soon-as-next-week-and-worth-up-to-usd-5-bn-97056\/\" style=\"\">a potential offering up to USD 5 bn<\/a><\/span><span style=\"font-weight:400;\">, we noted on Thursday. A final decision about the sale will be made after gauging investor demand.  <\/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 working on the issuance: <\/span><span>Our friends at HSBC are acting as lead managers and bookrunners along with Citigroup, Credit Agricole, Emirates NBD Capital, First Abu Dhabi Bank and Abu Dhabi Islamic <\/span><span>Ban<\/span><span style=\"font-weight:400;\">k.<\/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\">Why this is important #1:<\/span><span> Egypt has been unable to turn to the international capital market for fresh finance over the past year due to the spillover effects from the war in Ukraine and tightening global financial conditions. A successful sukuk issuance would be Egypt\u2019s first international debt sale <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/enterprise.press\/stories\/2022\/03\/27\/we-made-our-samurai-bond-debut-phd-closes-its-egp-3-25-bn-sukuk-offering-67678\/\" style=\"\">since last March<\/a><\/span><span style=\"font-weight:400;\">, potentially signaling improving investor confidence in the direction of the country\u2019s economy.<\/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\">Why this is important #2:<\/span><span> A successful issuance will help the government meet a major eurobond repayment on Tuesday. The government is due to repay USD 1.25 bn in five-year eurobonds that mature on 21 February, according to <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/www.zawya.com\/en\/markets\/fixed-income\/egypt-hires-banks-for-debut-dollar-sukuk-as-eurobonds-mature-ps564pdn\" style=\"\">Reuters<\/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;\"><\/p>\n<hr style=\"height:2px;border-width:0;color:gray;background-color:gray\">\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:700\">#2- Does Chimera <\/span><span style=\"font-weight:700\">want more of EFG Hermes?<\/span><span style=\"\"> Fresh off its investment in EFG Hermes <\/span><span style=\"\">last <\/span><span>week, Abu Dhabi-based investment firm Chimera could look to increase its stake, <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/dailynewsegypt.com\/2023\/02\/16\/chimera-aims-to-expand-in-non-banking-financial-activity-in-egypt\/\" style=\"\">Daily News<\/a><\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/dailynewsegypt.com\/2023\/02\/16\/chimera-aims-to-expand-in-non-banking-financial-activity-in-egypt\/\" style=\"\">Egypt<\/a><\/span><span> reports, citing unnamed sources. Chimera bought <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/enterprise.press\/stories\/2023\/02\/15\/ripplewood-flips-big-part-of-its-efg-hermes-stake-to-chimera-others-96900\/\" style=\"\">30.5 mn shares (2.62%)<\/a><\/span><span> for EGP 590.6 mn last week via its newly-acquired local financial services firm<\/span><span> Beltone <\/span><span style=\"font-weight:400;\">Financial.<\/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 Chimera eyeing a piece of the privatization program?<\/span><span> Beltone is planning to make offers to local NBFS players,<\/span><span> <\/span><span>including in a state-owned <\/span><span>company, the news outlet reports<\/span><span>.<\/span><span> Among the <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/enterprise.press\/stories\/2023\/02\/09\/rebooted-privatization-program-to-see-stakes-in-32-companies-sold-to-strategics-public-investors-96067\/\" style=\"\">32 companies<\/a><\/span><span style=\"font-weight:400;\"> in the state\u2019s privatization pipeline, two are in the NBFS sector: Misr Life Ins. and Misr Ins. <\/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- Chimera is buying big in Egypt:<\/span><span> The firm recently invested USD 200 mn in local super-app <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/enterprise.press\/stories\/2023\/02\/02\/mnt-halan-on-its-way-to-unicorn-status-with-major-chimera-investment-95288\/\" style=\"\">MNT-Halan<\/a><\/span><span>, and <\/span><span>acquired 45% of NBFS outfit <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/enterprise.press\/stories\/2023\/01\/22\/gb-capital-sells-a-45-stake-in-gb-lease-to-chimera-investments-94052\/\" style=\"\">GB Lease<\/a><\/span><span> in January. <\/span><span style=\"font-weight:700\">Chimera is led by our friend Seif Fikry<\/span><span style=\"font-weight:400;\">, an 18-year veteran of EFG Hermes who came up through the ranks on the brokerage side of the business and led the firm in the lower GCC. <\/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<hr style=\"height:2px;border-width:0;color:gray;background-color:gray\">\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\"> <\/span><span style=\"font-weight:700\">#3- <\/span><span style=\"font-weight:700\">\u0650Egypt and Italy could sign MoUs on a 3-GW interconnector project in <\/span><span style=\"font-weight:700\">June<\/span><span>, <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/www.dostor.org\/4314598\" style=\"\">Al Dostor<\/a><\/span><span style=\"font-weight:400;\">reported Thursday, citing an Electricity Ministry source. The source said that the two countries are currently in talks to bring a third country into the project to help span the distance between the two countries. The Italian offer includes funding from unnamed Italian and European lenders for the USD 3.5 bn project, the source added. <\/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 first heard of this project <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;font-weight:700;\"><a href=\"https:\/\/enterprise.press\/stories\/2023\/01\/05\/italy-proposes-a-usd-2-8-bn-electrical-interconnection-project-with-egypt-92918\/\" style=\"\">last month<\/a><\/span><span style=\"font-weight:400;\"> after Italy reportedly submitted a proposal on the electricity interconnection project between the two countries to the Egyptian Electricity Transmission Company (EETC). <\/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=\"\"> Italy\u2019s proposal comes as Europe continues a massive reorientation of its energy <\/span><span>security policy to eliminate its reliance on Russian natural gas. Egypt has been preparing to link its electricity grids with Greece and Cyprus through a subsea cable as part of the USD 4 bn <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/enterprise.press\/stories\/2018\/03\/12\/egypt-cyprus-greece-begin-working-to-implement-usd-4-bn-electricity-interconnection-project\/\" style=\"\">EuroAfrica Interconnector project<\/a><\/span><span> since 2018,<\/span><span style=\"font-weight:400;\"> while two direct Egypt-Greece links \u2014 the<\/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;\"><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=\"\"> (GREGY) and the 2-GW <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/enterprise.press\/stories\/2023\/02\/02\/us-contractor-mcdermott-to-work-on-greece-africa-power-interconnector-95290\/\" style=\"\">Greece\u2013Africa Power Interconnector<\/a><\/span><span style=\"\"> (GAP) \u2014<\/span><span> are both being studied. Our grid is currently linked with Jordan, Palestine, Libya, and most recently Sudan<\/span><span>, and will link up with Saudi via a<\/span><span> <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/enterprise.press\/stories\/2022\/10\/20\/egypt-saudi-electricity-interconnection-finally-has-a-timeline-84594\/\" style=\"\">3-GW interconnection<\/a><\/span><span> in 2025.<\/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<div class=\"row\">\n<div class=\"col-md-12 subscribe-box-panel\">\n<div class=\"\">\n<div class=\"title\">\n<h4 class=\"fw-lighter mb-10\">\n          Get <b style=\"font-weight: 700\">Enterprise<\/b> daily<br \/>\n        <\/h4>\n<\/p><\/div>\n<p class=\"mb-10\">The roundup of news and trends that move your markets and shape corporate agendas delivered straight to your inbox.<\/p>\n<p>     <a href=\"egypt\/en\/user\/NewsLetters\" type=\"button \" class=\"btn-green px-3 d-flex align-items-center\">Subscribe here<\/a>\n    <\/div>\n<\/p><\/div>\n<\/div>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:700\">WATCH THIS SPACE- Could Minouche Shafik succeed David Malpass as head of the <\/span><span style=\"font-weight:700\">World Bank?<\/span><span> The <\/span><span>Egypt-born economist is one of several people being floated by <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/www.reuters.com\/business\/who-could-replace-world-bank-president-david-malpass-2023-02-15\/\" style=\"\">Reuters<\/a><\/span><span> for the top job at the bank following <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/enterprise.press\/stories\/2023\/02\/16\/this-morning-sovereign-sukuk-as-soon-as-next-week-and-worth-up-to-usd-5-bn-97056\/\" style=\"\">Malpass\u2019s surprise resignation<\/a><\/span><span> last week. Shafik, who was recently <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/enterprise.press\/stories\/2023\/01\/19\/columbia-university-names-egypt-born-nemat-shafik-its-first-woman-president-93970\/\" style=\"\">named president of Columbia University<\/a><\/span><span>, is being mentioned alongside current WTO head <\/span><span style=\"font-weight:700\">Ngozi Okonjo-Iweala<\/span><span>, former USAID administrator <\/span><span style=\"font-weight:700\">Gayle Smith<\/span><span>, and former US ambassador to the UN <\/span><span style=\"font-weight:700\">Samantha Power<\/span><span>.<\/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;\">HAPPENING TODAY-<\/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 Senate is back in session:<\/span><\/p>\n<ul>\n<li><span>Senators will discuss and vote <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/enterprise.press\/stories\/2023\/02\/06\/senate-committee-greenlights-bill-allowing-informal-industrial-projects-to-get-temp-licenses-95590\/\" style=\"\">on a bill<\/a><\/span><span> handing <\/span><span style=\"font-weight:700\">temporary licenses<\/span><span style=\"font-weight:400;\"> to \u201cinformal\u201d industrial projects; <\/span><\/li>\n<\/ul>\n<ul>\n<li><span>The Finance and Economic Affairs Committee will resume discussions of a <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/enterprise.press\/stories\/2022\/11\/28\/this-morning-more-of-us-are-banked-than-ever-before-89232\/\" style=\"\">report<\/a><\/span><span> <\/span><span>by the pro-government Mostaqbal Watan party on the problems the country faces attracting <\/span><span style=\"font-weight:700\">foreign direct investment<\/span><span style=\"font-weight:400;\">; <\/span><\/li>\n<li><span>The Industry Committee will review the impact of the implementation of the <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;font-weight:700;\"><a href=\"https:\/\/enterprise.press\/stories\/2022\/12\/12\/day-1-and-the-public-shops-law-is-sparking-controversy-90915\/\" style=\"\">Public Shops Law<\/a><\/span><span style=\"font-weight:400;\"> on SMEs; <\/span><\/li>\n<li><span>The Energy Committee will discuss the technical and economic feasibility of developing and <\/span><span style=\"font-weight:700\">upgrading the country\u2019s <\/span><span style=\"font-weight:700\">LNG plants<\/span><span style=\"font-weight:400;\">;<\/span><\/li>\n<li><span>The Defense and National Security Committee will discuss upgrading the country's <\/span><span style=\"font-weight:700\">cyber security defenses<\/span><span style=\"font-weight:400;\">.<\/span><\/li>\n<\/ul>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:700\">ALSO-<\/span><span style=\"font-weight:400;\"> Fish farms are on the agenda at the Agriculture Committee, transport infrastructure serving the tourism industry is up for discussion at the Culture Committee, and the Education Committee will discuss unemployment among grads of the nation\u2019s pharma schools. <\/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;font-size:10.5pt;\"><\/p>\n<hr style=\"height:2px;border-width:0;color:gray;background-color:gray\">\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:700;\">THE BIG STORY 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\">US-China tensions are everywhere in the global front pages this morning:<\/span><span style=\"\"> US <\/span><span>Secretary of State Antony Blinken has warned China against supporting Russia\u2019s war in Ukraine and sending more balloons into US airspace during talks with Chinese Foreign Minister Wang Yi in Munich. (<\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/apnews.com\/article\/politics-district-of-columbia-wang-yi-china-beijing-0f726ea0cd24731658412da3cae9adbf\" 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\/china-swipes-hysterical-us-global-security-gathering-2023-02-18\/\" 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\/2023-02-18\/blinken-met-china-s-wang-yi-in-first-post-balloon-face-to-face?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.ft.com\/content\/48258368-df63-4ec6-8077-697dd48b8e88\" style=\"\">FT<\/a><\/span><span> | <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"http:\/\/v\" 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\/live\/2023\/02\/17\/world\/russia-ukraine-war\" 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\/chinas-top-diplomat-criticizes-u-s-as-two-sides-seek-bilateral-talks-4aef93e\" style=\"\">WSJ<\/a><\/span><span>)<\/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 latest from Turkey-Syria:<\/span><span style=\"\"> <\/span><span style=\"\">The death toll from the deadly earthquake that hit <\/span><span>Turkey and Syria earlier this month has surpassed 46k, with the tally expected to rise, <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/www.reuters.com\/world\/middle-east\/teenager-rescued-rubble-turkey-10-days-after-quake-2023-02-16\/\" style=\"\">Reuters<\/a><\/span><span> reported. Fatalities in Turkey currently stand at 40.6k, while Syria has over 5.8k deaths. A UN official told <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/apnews.com\/article\/politics-earthquakes-united-nations-syria-damascus-9df56ed1b3ecff3b438a9763aca45f82\" style=\"\">Associated Press<\/a><\/span><span style=\"font-weight:400;\"> that the full scope of fatalities in Syria may take time to establish, with figures by the UN higher than those announced by the Syrian government. <\/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\">Another Egyptian victim:<\/span><span style=\"\"> The body of an Egyptian woman was found under <\/span><span>rubble in Turkey's Iskenderun, the Foreign Ministry <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/bit.ly\/3k6M4r1\" style=\"\">said<\/a><\/span><span style=\"font-weight:400;\">yesterday.<\/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 can now donate to Syria through the Tahya Misr Fund:<\/span><span style=\"\"> The state fund has set up a <\/span><span>donations account for Syria. Details on how to donate were outlined in a <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/www.facebook.com\/EgyptianCabinet\/posts\/pfbid03AhATkvKmdJWL5hVFo3QP1BpPUuAmienMEqpf8ecGoYSH5AbpworSKhsZPLcKrMMl\" style=\"\">statement<\/a><\/span><span> by the fund. <\/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;\">COME TO OUR NEXT ENTERPRISE FORUM- <\/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;\"><img data-recalc-dims=\"1\" decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2023\/2\/Export-FDI-Forum_1600.jpg?ssl=1\"\/><\/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\u2019re excited to unveil our next C-level event: <\/span><span style=\"font-weight:400;\">The Enterprise Exports & FDI Forum, where we will take a deep dive into two of the most critical topics affecting our community.<\/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\">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 style=\"font-weight:400;\"> that makes us a magnet for FDI and all the benefits that will come with it for our nation.<\/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\">CIRCLE YOUR CALENDAR-<\/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=\"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\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/chimera-investments\/\">Chimera Investments<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" 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            <\/a>\r\n\r\n                \n<article id=\"post-581649\" class=\"content-area-description single-story post-581649 post type-post status-publish format-standard hentry category-advertiser wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<p><span style=\"font-weight:400;\"><a href=\"https:\/\/somabay.com\/\" target=\"_blank\" rel=\"noopener\"><img data-recalc-dims=\"1\" decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2023\/2\/Simply-Somabay-8-1600px.jpg?ssl=1\"><\/a><\/span><\/p><div class=\"grouped-tags\">\n<p><span>Somabay brings out the best in majestic natural elements where raw beauty and endless activities reign supreme. Immerse yourself into a picturesque getaway all year long. This is simply Somabay. For more information, call 16390 or visit <\/span><span>www.somabay.com<\/span><span>.<\/span><\/p>\n<\/div>\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"581650\" 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=\"581650\">\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\/19\/state-pharma-firms-could-offer-minority-stakes-within-six-months\/\">\r\n                            State pharma firms could offer minority stakes within six months                        <\/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\/19\/state-pharma-firms-could-offer-minority-stakes-within-six-months\/\" target=\"_blank\">\n                    Open in new tab                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/new-tab.svg\" alt=\"\"> -->\n                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href=\"https:\/\/api.whatsapp.com\/send?text=State+pharma+firms+could+offer+minority+stakes+within+six+months+https%3A%2F%2Fenterpriseam.com%2Fegypt%2F2023%2F02%2F19%2Fstate-pharma-firms-could-offer-minority-stakes-within-six-months%2F\">\n                    WhatsApp                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/whatsapp-icon.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n        <\/ul>\n    <\/div>\n        <\/div>\r\n                    \r\n                <\/div>\r\n\r\n            \r\n            <div class=\"story__body\">\r\n\r\n                <a href=\"https:\/\/enterpriseam.com\/egypt\/2023\/02\/19\/state-pharma-firms-could-offer-minority-stakes-within-six-months\/\">\r\n                    <div class=\"photo photo--above\">\r\n                        <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2019\/8\/pharma-1600-px.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"581651\" data-permalink=\"https:\/\/enterpriseam.com\/egypt\/2023\/02\/19\/state-pharma-firms-could-offer-minority-stakes-within-six-months\/pharma-1600-px-jpg\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2019\/8\/pharma-1600-px.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"pharma-1600-px.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2019\/8\/pharma-1600-px.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2019\/8\/pharma-1600-px.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-581650\" class=\"content-area-description single-story post-581650 post type-post status-publish format-standard has-post-thumbnail hentry category-privatization-watch tag-chemical-industries-development-company tag-enterpriseam tag-holdipharma tag-ipo-watch tag-misr-pharma tag-pharma 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\/2\/.dc1071a0-8c60-4a9f-a7d3-5a2bbd86fafe.mp3\"><\/audio><\/figure><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=\"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\">Two state-owned pharma firms to sell minority stakes within six months?<\/span><span style=\"\"> The <\/span><span style=\"\">government wants to sell sizable minority stakes in two state-owned pharma companies earmarked for privatization in the coming six months, <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/bit.ly\/3xp8Ygo\" style=\"\">Al Mal<\/a><\/span><span style=\"\"> reports, citing unnamed sources it says are familiar with the matter. Between 30-40% of Chemical Industries Development Company (<\/span><span style=\"\">CID<\/span><span style=\"\">) and <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"http:\/\/www.misrpharma.com.eg\/\" style=\"\">Misr Pharma<\/a><\/span><span style=\"\"> will be offered to investors, likely in an IPO on the EGX, according to the sources. Both companies are on <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/enterprise.press\/stories\/2023\/02\/09\/rebooted-privatization-program-to-see-stakes-in-32-companies-sold-to-strategics-public-investors-96067\/\" style=\"\">the list<\/a><\/span><span style=\"font-weight:400;\"> of the 32 state-owned companies in which the government plans to sell stakes within the next 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\">The government is in talks with several investment banks to lead the offerings<\/span><span style=\"font-weight:400;\"> and fair value studies are being conducted, according to Al Mal\u2019s sources. <\/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\">State to remain in control:<\/span><span style=\"\"> Both companies are subsidiaries of the Holding Company for Pharma Industries (<\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"http:\/\/www.holdipharma.com\/en\/home\/pages\/default.aspx\" style=\"\">HoldiPharma<\/a><\/span><span style=\"font-weight:400;\">), which plans to maintain its controlling interests.<\/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\">No interest from strategics:<\/span><span style=\"\"> No strategic investors have shown interest in acquiring the shares, according to the sources.<\/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- Strategics tend to look to buy majority stakes. <\/span><span style=\"font-weight:400;\">Most strategic investors have strong preferences for majority stakes (to ensure they can fully consolidate the results of their new investment) with clear management control (to make sure they can drive performance improvements.) This theme will run throughout the privatization program \u2014 doubly so when we\u2019re talking about well-managed, well-governed companies that aren\u2019t already listed on the EGX.<\/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\/chemical-industries-development-company\/\">Chemical Industries Development Company<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/holdipharma\/\">HoldiPharma<\/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\/misr-pharma\/\">Misr Pharma<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/pharma\/\">pharma<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/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=\"581652\" 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=\"581652\">\r\n            \r\n                <div class=\"issue-story-header text-center\">\r\n                    <div class=\"index-number\">3<\/div>\r\n\r\n                    <p class=\"f-graphik\">M&amp;A WATCH<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2023\/02\/19\/egypt-weathered-the-global-ma-slowdown-last-year\/\">\r\n                            Egypt weathered the global M&#038;A slowdown last year                        <\/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\/19\/egypt-weathered-the-global-ma-slowdown-last-year\/\" target=\"_blank\">\n                    Open in new tab                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/new-tab.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a href=\"#\" target=\"_blank\" onclick=\"event.preventDefault(); navigator.clipboard.writeText('https:\/\/enterpriseam.com\/egypt\/2023\/02\/19\/egypt-weathered-the-global-ma-slowdown-last-year\/')\">\n                    Copy Link                <\/a>\n\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a target=\"_blank\" href=\"https:\/\/www.facebook.com\/sharer.php?u=https:\/\/enterpriseam.com\/egypt\/2023\/02\/19\/egypt-weathered-the-global-ma-slowdown-last-year\/\">\n                    Facebook                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/facebook-icon2.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a target=\"_blank\" href=\"https:\/\/x.com\/intent\/post?text=Egypt weathered the global M&#038;A slowdown last year&url=https:\/\/enterpriseam.com\/egypt\/2023\/02\/19\/egypt-weathered-the-global-ma-slowdown-last-year\/\">\n                    X                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/twitter-icon.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a target=\"_blank\" href=\"https:\/\/www.linkedin.com\/shareArticle?mini=true&url=https:\/\/enterpriseam.com\/egypt\/2023\/02\/19\/egypt-weathered-the-global-ma-slowdown-last-year\/&title=Egypt weathered the global M&#038;A slowdown last year\">\n                    LinkedIn                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/linkedin-icon.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a href=\"https:\/\/api.whatsapp.com\/send?text=Egypt+weathered+the+global+M%26%23038%3BA+slowdown+last+year+https%3A%2F%2Fenterpriseam.com%2Fegypt%2F2023%2F02%2F19%2Fegypt-weathered-the-global-ma-slowdown-last-year%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\/19\/egypt-weathered-the-global-ma-slowdown-last-year\/\">\r\n                    <div class=\"photo photo--above\">\r\n                        <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2023\/2\/cairo-view-1600px.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"581653\" data-permalink=\"https:\/\/enterpriseam.com\/egypt\/2023\/02\/19\/egypt-weathered-the-global-ma-slowdown-last-year\/cairo-view-1600px-jpg\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2023\/2\/cairo-view-1600px.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"cairo-view-1600px.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2023\/2\/cairo-view-1600px.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2023\/2\/cairo-view-1600px.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-581652\" class=\"content-area-description single-story post-581652 post type-post status-publish format-standard has-post-thumbnail hentry category-ma-watch tag-baker-mckenzie tag-enterpriseam tag-investment-watch tag-ma-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\/2\/.4410e3d7-2e5c-49ec-9270-e84abd03569c.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;\"><\/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=\"\"><\/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\">M&A in Egypt took a slight dip in 2022<\/span><span style=\"\"> amid a sharper downturn in <\/span><span style=\"\">transactions <\/span><span style=\"\">across the Middle East and the world, accordin<\/span><span style=\"\">g to a <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/ent.news\/2023\/2\/HHP-Press-Release-H2-2022-and-FY-2022-Egypt-MA-Report-Feb-2023_ENG.pdf\" style=\"\">report by Baker McKenzie (pdf)<\/a><\/span><span style=\"\">. T<\/span><span style=\"\">he total value of Egyptian M&A transactions dipped some<\/span><span style=\"\"> 9%<\/span><span style=\"\"> to USD 8.2 bn last year, dealcount remained more or less flat at <\/span><span style=\"\">242<\/span><span style=\"font-weight:400;\"> transactions, according to the report, which is based on Refinitiv 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\">Egypt remained attractive in the face of global headwinds: <\/span><span style=\"font-weight:400;\">\u201cDespite increased global and domestic market uncertainties generally and significant devaluation of the EGP, we continue to see reasonably strong interest and opportunities in the Egyptian market,\u201d said Mohamed Ghannam, managing partner at Helmy, Hamza & Partners, Baker McKenzie Cairo, who singled out defensive sectors including tech and telecoms, energy, healthcare, education, and financial services as among the most resilient. <\/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 fewer transactions in 2H 2022, but total values remained steady: <\/span><span style=\"\">The second half of the year saw 115 M&As, down from 127 in the first half of 2022 and <\/span><span style=\"\">126<\/span><span style=\"\"> in 2H 2021. Total transaction value came in at USD 4.2 bn, compared with USD 4 bn in the previous half and <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/www.google.com\/url?q=https:\/\/enterprise.press\/stories\/2022\/02\/13\/2021-was-big-for-ma-and-tech-education-and-healthcare-should-drive-activity-this-year-64788\/&sa=D&source=docs&ust=1676761182746808&usg=AOvVaw2fCtPa8_XNp2kejbZ49R_6\" style=\"\">US<\/a><\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/www.google.com\/url?q=https:\/\/enterprise.press\/stories\/2022\/02\/13\/2021-was-big-for-ma-and-tech-education-and-healthcare-should-drive-activity-this-year-64788\/&sa=D&source=docs&ust=1676761182746808&usg=AOvVaw2fCtPa8_XNp2kejbZ49R_6\" style=\"\">D 4.3 bn<\/a><\/span><span style=\"font-weight:400;\"> in 2H 2021. <\/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 outperformed the region \u2014 and everyone else: <\/span><span style=\"font-weight:400;\">Middle East dealmaking dipped 46% by value to USD 40.4 bn in 2022 despite a 4% rise in the number of transactions. Globally, the number of M&A transactions fell 16% for the year. Total M&A value globally was down 37% to USD 3.6 tn as the market cooled from 2021, when M&A volumes surged to record levels following the pandemic.<\/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\">Cross-border transactions<\/span><span style=\"font-weight:700\"> accounted for the bulk of our M&A activity <\/span><span style=\"\">as foreign companies continue to look to expand into emerging markets. The value of domestic transactions fell by half y-o-y to make <\/span><span style=\"\">up just 17%<\/span><span style=\"font-weight:400;\"> of the total transaction value in 2022. Cross-border transactions, meanwhile, rose in value by 7%. <\/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\">Thank our friends in the Gulf: <\/span><span style=\"\">The UAE <\/span><span style=\"\">led the inbound buying spree in 2022, <\/span><span style=\"\">with 24 transactions <\/span><span style=\"\">worth USD 2.3 bn, followed by the KSA with 27 transactions worth USD 1.7 bn. <\/span><span style=\"\">Gulf sovereign wealth funds contributed significantly to inbound M&A last year as they moved to support our economy and shore up the country\u2019s dwindling FX reserves amid the fallout of the war in Ukraine. Abu Dhabi\u2019s <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/enterprise.press\/stories\/2022\/04\/13\/adq-makes-grand-entry-into-the-egx-with-usd-1-8-bn-buy-launches-first-mena-spac-with-chimera-69147\/\" style=\"\">ADQ<\/a><\/span><span style=\"\"> and Saudi Arabia\u2019s <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/enterprise.press\/stories\/2022\/08\/11\/the-saudis-have-arrived-77636\/\" style=\"\">Public Investment Fund<\/a><\/span><span style=\"font-weight:400;\"> spent some USD 3.1 bn to acquire significant minority stakes in some of the EGX\u2019s strongest companies from the government.<\/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\">Our take<\/span><span style=\"\">: We recorded <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/enterprise.press\/stories\/2022\/12\/27\/the-2022-downturn-in-global-ma-wasnt-felt-in-egypt-92281\/#:~:text=Dealogic%20data%20reported%20by%20Reuters,role%20in%20the%20Egyptian%20economy.\" style=\"\">twice the amount of M&A<\/a><\/span><span style=\"\"> in Egypt last year compared to 2021, led by inbound M&A on the <\/span><span style=\"font-weight:400;\">Gulf buying spree, per our internal trackers.<\/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\/baker-mckenzie\/\">Baker McKenzie<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/investment-watch\/\">investment watch<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/ma-watch\/\">M&amp;A Watch<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                    <\/div>\n    <\/div>\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"581654\" 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=\"581654\">\r\n            \r\n                <div class=\"issue-story-header text-center\">\r\n                    <div class=\"index-number\">4<\/div>\r\n\r\n                    <p class=\"f-graphik\">DEBT WATCH<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2023\/02\/19\/palm-hills-closes-egp-638-mn-securitization\/\">\r\n                            Palm Hills closes EGP 638 mn securitization                        <\/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\/19\/palm-hills-closes-egp-638-mn-securitization\/\" 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 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href=\"https:\/\/api.whatsapp.com\/send?text=Palm+Hills+closes+EGP+638+mn+securitization+https%3A%2F%2Fenterpriseam.com%2Fegypt%2F2023%2F02%2F19%2Fpalm-hills-closes-egp-638-mn-securitization%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\/19\/palm-hills-closes-egp-638-mn-securitization\/\">\r\n                    <div class=\"photo photo--above\">\r\n                        <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2023\/2\/house-row-1600px.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"581655\" data-permalink=\"https:\/\/enterpriseam.com\/egypt\/2023\/02\/19\/palm-hills-closes-egp-638-mn-securitization\/house-row-1600px-jpg\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2023\/2\/house-row-1600px.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"house-row-1600px.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2023\/2\/house-row-1600px.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2023\/2\/house-row-1600px.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-581654\" class=\"content-area-description single-story post-581654 post type-post status-publish format-standard has-post-thumbnail hentry category-debt-watch tag-debt-watch tag-efg-hermes tag-enterpriseam tag-palm-hills-developments tag-real-estate tag-securitization 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\/.1dd712b7-e012-4df9-a1fc-4ed55263f052.mp3\"><\/audio><\/figure><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=\"\"><\/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\">Palm Hills Developments (PHD) has closed an EGP 638 mn securitized bond <\/span><span style=\"font-weight:700\">issuance<\/span><span style=\"\">, according to <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/ent.news\/2023\/2\/PHD-Press-Release-16-Feb-2023-English.pdf\" style=\"\">a joint statement (pdf)<\/a><\/span><span style=\"\"> from Palm Hills and EFG Hermes, the sole financial advisor on the sale.<\/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\">About the issuance: <\/span><span style=\"font-weight:400;\">The issuance\u2019s three tranches have tenors of 13, 36, and 84 months and ratings ranging from AA+ to A from the Middle East Rating & Investors Service (MERIS).  The issuance brings PHD\u2019s securitized gross receivables to a total of EGP 7.2 bn since its securitization program began in 2016, co-CEO and Managing Director Tarek Tantawy said in the statement.<\/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 bought in? <\/span><span style=\"font-weight:400;\">Al Baraka Bank was the only named subscriber to have bought into the issuance in the statement. <\/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\">Advisors: Our friends at EFG Hermes ran the show<\/span><span style=\"\">, acting as sole financial advisor, lead arranger, bookrunner, and underwriter on the issuance. National Bank of Egypt and Banque du Caire acted as underwriting banks, with BdC also acting as the subscription bank. Banque Misr acted as transaction custodian. <\/span><span style=\"font-weight:700\">Our friends at ALC Alieldean Weshahi & Partners acted as legal advisors<\/span><span style=\"font-weight:400;\"> while KPMG acted as the auditor.<\/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 than <\/span><span style=\"font-weight:700\">EGP 6.8 bn worth of bonds<\/span><span style=\"font-weight:700\"> have been sold so far in 2023<\/span><span style=\"\">,<\/span><span style=\"\"> down from <\/span><span style=\"\">EGP 7.2 bn<\/span><span style=\"\"> in the same period last year<\/span><span style=\"\">, according to data tracked by Enterprise. Among other firms planning issuances for this quarter are <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/enterprise.press\/stories\/2023\/01\/23\/valu-to-kick-off-fresh-egp-5-bn-securitization-program-this-quarter-94221\/\" style=\"\">EFG Hermes\u2019 ValU<\/a><\/span><span style=\"\"> and <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/enterprise.press\/stories\/2023\/01\/12\/us-based-softlight-acquires-local-cloud-computing-company-digitech-93424\/\" style=\"\">Contact Financial Holding<\/a><\/span><span style=\"font-weight:400;\">. Companies raised EGP 45.4 bn from securitized bond issuances in 2022, almost three times the EGP 15.8 bn sold the year prior.<\/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\/debt-watch\/\">debt watch<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/efg-hermes\/\">EFG Hermes<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/palm-hills-developments\/\">Palm Hills Developments<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/real-estate\/\">real estate<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/securitization\/\">securitization<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                    <\/div>\n    <\/div>\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"581656\" 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=\"581656\">\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\">Energy<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2023\/02\/19\/chevron-is-trying-to-figure-out-a-way-of-exporting-cypriot-gas-via-egypt\/\">\r\n                            Chevron is trying to figure out a way of exporting Cypriot gas via 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\/19\/chevron-is-trying-to-figure-out-a-way-of-exporting-cypriot-gas-via-egypt\/\" target=\"_blank\">\n                    Open in new tab                    <!-- <img decoding=\"async\" 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src=\"https:\/\/i0.wp.com\/ent.news\/2023\/2\/israel-gas-1600px.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"581657\" data-permalink=\"https:\/\/enterpriseam.com\/egypt\/2023\/02\/19\/chevron-is-trying-to-figure-out-a-way-of-exporting-cypriot-gas-via-egypt\/israel-gas-1600px-jpg\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2023\/2\/israel-gas-1600px.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"israel-gas-1600px.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2023\/2\/israel-gas-1600px.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2023\/2\/israel-gas-1600px.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-581656\" class=\"content-area-description single-story post-581656 post type-post status-publish format-standard has-post-thumbnail hentry category-energy tag-chevron tag-energy tag-enterpriseam tag-oil-and-gas tag-shell 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\/5\/.5d44da38-8571-4003-b72e-1afa184b06ed.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>\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\">Chevron takes a step forward on plans to process Cypriot gas here: <\/span>Chevron has officially requested permission from Shell to use its underutilized West Delta Deep Marine (WDDM) facilities on Egypt\u2019s Mediterranean coast to process gas from Cyprus\u2019 Aphrodite field, oil and gas publication <span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/www.mees.com\/2023\/2\/17\/oil-gas\/chevron-eying-egypt-tie-in-for-cyprus-aphrodite\/8e850bd0-aece-11ed-af98-83f6ed02c1e5\" style=\"\">MEES<\/a><\/span> <span style=\"font-weight:400;\">reports. Chevron is a 35% partner in the Aphrodite field, along with Shell (35%) and Israel\u2019s NewMed Energy (<font face=\"Arial\">3<\/font>0%). \u201cWe are committed to finding a way to develop the Aphrodite reservoir via the Egyptian infrastructure and the liquefaction facilities there,\u201d MEES reports NewMed CEO Yossi Abu as saying during the Egypt Petroleum Show (EGYPS) last 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\">Half of the field\u2019s output is slated for exports: <\/span><span style=\"font-weight:400;\">Chevron has reached an agreement with local authorities on behalf of its Aphrodite partners to export at least 50% of the field\u2019s planned output, MEES reported, citing unnamed sources. The rest of the output will serve the country\u2019s domestic needs. <\/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>Egypt and Cyprus <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/enterprise.press\/stories\/2022\/05\/26\/egypt-cyprus-to-break-ground-on-gas-pipeline-this-year-el-molla-72050\/\" style=\"\">are planning<\/a><\/span><span style=\"font-weight:400;\"> to lay a pipeline connecting the Aphrodite field to Egypt\u2019s LNG facilities, where natural gas is liquified and exported to Europe, which is expected to be up and running by 2025. Egypt is the only country with LNG facilities in the Eastern Mediterranean, putting us in pole position to fill Europe\u2019s energy supply gap as it rapidly transitions away from Russian fossil fuels.<\/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:<\/span><span> Cairo is reportedly unwilling to allow Cypriot gas to take up a sizable portion of its export capacity. State gas company Egas is currently the sole exporter of LNG from Egypt and raked in a huge USD 8.4 bn in 2022 on the back of soaring international prices, according to MEES.<\/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\/chevron\/\">Chevron<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/energy\/\">energy<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/oil-and-gas\/\">oil and gas<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/shell\/\">Shell<\/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=\"581658 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=\"581658\">\r\n            \r\n            <div class=\"story__body\">\r\n\r\n                <a href=\"https:\/\/enterpriseam.com\/egypt\/2023\/02\/19\/581658\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-581658\" class=\"content-area-description single-story post-581658 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\/1\/1-SODIC-Allegria-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=\"581659\" 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=\"581659\">\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\">LAST NIGHT\u2019S TALK SHOWS<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2023\/02\/19\/govt-lifts-price-cap-on-rice\/\">\r\n                            Gov\u2019t lifts price cap on rice                        <\/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\/19\/govt-lifts-price-cap-on-rice\/\" target=\"_blank\">\n                    Open in new tab                    <!-- <img 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data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2023\/2\/rice-talkshows-1600px.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"rice-talkshows-1600px.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2023\/2\/rice-talkshows-1600px.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2023\/2\/rice-talkshows-1600px.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-581659\" class=\"content-area-description single-story post-581659 post type-post status-publish format-standard has-post-thumbnail hentry category-last-nights-talk-shows tag-commodities tag-economy tag-emx tag-enterpriseam tag-ibrahim-ashmawy tag-inflation tag-last-nights-talk-shows 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\/.adff1d6e-cb5d-4146-be5b-318da11a2780.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;\"><\/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=\"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\">Last night\u2019s talk shows:<\/span><span style=\"\"> Food prices and news of the release of six Egyptians <\/span><span style=\"font-weight:400;\">kidnapped in Libya got a lot of attention on the talk shows, while the aftermath of the Syria-Turkey earthquakes continued to get coverage.<\/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 looks like the government has ended its price cap on rice a month early:<\/span><span style=\"\"> <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/ent.news\/2023\/2\/Rice-price-cap-directive-Feb23.jpeg\" style=\"\">A<\/a><\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/ent.news\/2023\/2\/Rice-price-cap-directive-Feb23.jpeg\" style=\"\">decree<\/a><\/span><span style=\"\"> by <\/span><span>Prime M<\/span><span>inister Moustafa Madbouly signed last week has ended the government\u2019s rice price cap despite <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/enterprise.press\/stories\/2022\/12\/15\/egypt-approves-usd-5-5-bn-green-ammonia-plant-91315\/\" style=\"\">the three-month extension<\/a><\/span><span>approved by ministers in mid-December. The lifting of the measure \u2014 which since September has capped rice prices at EGP 12-18 per kg \u2014 will allow producers to sell the staple food at higher prices and fuel further food inflation which is already <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/enterprise.press\/stories\/2023\/02\/12\/food-prices-hit-record-high-on-january-devaluation-96498\/\" style=\"\">accelerating at a record rate<\/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\">What sort of prices are we looking at?<\/span><span style=\"\"> Ragab Shehata, the head of the Federation of <\/span><span>Egyptian Industries\u2019 rice division, expects big rice brands to <\/span><span style=\"font-weight:700\">raise prices to EGP 25 per kg<\/span><span>, he told Kelma Akhira last night (<\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/www.youtube.com\/watch?v=4X_Pmdk1jbY\" style=\"\">watch, runtime: 6:32<\/a><\/span><span>). The price per-ton of barley rice spiked <\/span><span>more than 7%<\/span><span> to a record high of EGP 15k, <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"http:\/\/bit.ly\/3EiJs04\" style=\"\">Al Mal<\/a><\/span><span>reported yesterday, citing sources in the FEI\u2019s rice division.<\/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\">Why is the government lifting the cap? It didn\u2019t <\/span><span style=\"font-weight:700\">stabilize<\/span><span style=\"font-weight:700\"> the market or lower prices<\/span><span>, Assistant Supply Minister Ib<\/span><span>rahim <\/span><span>Ashmawy told Kelma Akhira (<\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/www.youtube.com\/watch?v=_x8lmMCL4zE\" style=\"\">watch, runtime: 13:04<\/a><\/span><span>). \u201cThis signals the need for other approaches [towards the crisis],\u201d he said, suggesting that this could involve increasing rice imports and reimposing the caps. The FEI\u2019s Shehata told El Hekaya on Friday (<\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/www.youtube.com\/watch?v=HHFVm7yR0hM\" style=\"\">watch, runtime: 3:50<\/a><\/span><span style=\"font-weight:400;\">) that \u201cthe government capped prices without taking into consideration that it doesn't have access to the raw material.\u201d Rice producers were not in favor of the set prices and withheld supply from the market, he explained. <\/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\">Watch this space:<\/span><span style=\"\"> Rice will be offered on the <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/enterprise.press\/stories\/2022\/12\/13\/gold-could-be-coming-to-the-emx-in-1q-2023-91037\/\" style=\"\">Egyptian Mercantile Exchange<\/a><\/span><span style=\"\"> (EMX) by the <\/span><span style=\"font-weight:400;\">beginning of March, said Ashmawy, who heads the exchange. This would lead to an increase in supply, 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\">The poultry crisis also got coverage<\/span><span style=\"\">, with Abdel Aziz Al Sayed, head of the Poultry Division at <\/span><span>the Cairo Chamber of Com<\/span><span>merce, telling El Hekaya that increased poultry imports would he<\/span><span>lp in narrowing the gap between supply and demand (<\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/www.youtube.com\/watch?v=RNdettwx5dU\" style=\"\">watch, runtime: 4:27<\/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 release of six Egyptians abducted and then illegally detained earlier this month in <\/span><span style=\"font-weight:700\">Libya also got coverage:<\/span><span> In an interview on Kelma Akhira, Khaled Okasha, general manager of the Egyptian Center for Strategic Studies, blamed the kidnapping on insecurity in the west of the country <\/span><span>(<\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/www.youtube.com\/watch?v=O4bmYy4-XRU\" style=\"\">watch, runtime: 9:10<\/a><\/span><span>). \u201cThey are victims to [high levels] of insecurity in some parts of Libya\u2019s west,\u201d he said, urging Egyptians traveling to Libya for work to abide by the country\u2019s strict instructions on residing in the east of the country, which is under the control of Cairo-backed Khalifa Haftar\u2019s forces. <\/span><span>Their release also got attention from Al<\/span><span>a Mas\u2019ouleety (<\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/www.youtube.com\/watch?v=C5PM_ntEWIA\" style=\"\">watch, runtime: 17:46<\/a><\/span><span>) and Masa\u2019a DMC (<\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/www.youtube.com\/watch?v=jwLD5OXtLiU\" style=\"\">watch, runtime: 0:35<\/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 earthquake in Syria + Turkey was still being talked about on the airwaves<\/span><span style=\"\"> as the death <\/span><span>toll from the disaster surpassed 46k. El Hekaya\u2019s Amr Adib accused Western nations of double standards<\/span><span> in their decisions to supply bns of USD and military equipment to Ukraine but refuse to provide proper relief to Syria (<\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/www.youtube.com\/watch?v=bEA2XBdbtew\" style=\"\">watch, runtime: 4:27<\/a><\/span><span>). The rising death toll of the deadly quake in Turkey and Syria also got a mention from Masa\u2019a DMC (<\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/www.youtube.com\/watch?v=Xn2Yx-C8TOk%5C\" style=\"\">watch, runtime: 2:18<\/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\/commodities\/\">commodities<\/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\/emx\/\">EMX<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/ibrahim-ashmawy\/\">Ibrahim Ashmawy<\/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\/last-nights-talk-shows\/\">LAST NIGHT\u2019S TALK SHOWS<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                    <\/div>\n    <\/div>\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"581661\" class=\"issue-section \">\n<div class=\"issue-section__content\">\n<div class=\"stories\">      \r\n<section 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NEWS<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2023\/02\/19\/the-economic-crisis-is-topic-du-jour-in-the-international-press\/\">\r\n                            The economic crisis is topic du jour in the international press                        <\/a>\r\n                    <\/h3>\r\n\r\n                    \r\n\t\t\t\t\t\n<div class=\"cta\">\n    <div class=\"cta__btn share-dropdown-cta dropdown-toggle-btn\" style=\"position:relative\">\n        <img decoding=\"async\" src=\"https:\/\/ent.news\/internal\/408834.svg\" alt=\"\">\n        Share Story\n        <!-- Dropdown Menu -->\n        <ul class=\"share-menu\">\n            <li class=\"list-inline-item\">\n                <a href=\"https:\/\/enterpriseam.com\/egypt\/2023\/02\/19\/the-economic-crisis-is-topic-du-jour-in-the-international-press\/\" target=\"_blank\">\n                    Open in new tab                    <!-- <img 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class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"581663\" data-permalink=\"https:\/\/enterpriseam.com\/egypt\/2023\/02\/19\/the-economic-crisis-is-topic-du-jour-in-the-international-press\/discount-markets-1600px-jpg\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2023\/2\/discount-markets-1600px.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"discount-markets-1600px.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2023\/2\/discount-markets-1600px.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2023\/2\/discount-markets-1600px.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-581662\" class=\"content-area-description single-story post-581662 post type-post status-publish format-standard has-post-thumbnail hentry category-egypt-in-the-news tag-economy tag-egypt-italy-relations tag-enterpriseam tag-giulio-regeni tag-human-rights tag-tourism tag-travel 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\/.b3a3f22b-302b-47b8-b839-f1cf373887be.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=\"\"><\/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 economic crisis is driving the conversation on Egypt in the foreign press this <\/span><span style=\"font-weight:700\">morning:<\/span><span> The <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/www.ft.com\/content\/13286c00-e0ca-46d7-92d5-83319372cbde#comments-anchor\" style=\"\">Financial Times<\/a><\/span><span> reports on how soaring inflation is hurting the poor and well-off alike, while <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/www.bloomberg.com\/news\/articles\/2023-02-16\/how-to-know-where-egypt-s-once-in-decade-crisis-is-heading?srnd=premium-middle-east#xj4y7vzkg\" style=\"\">Bloomberg<\/a><\/span><span> and <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/www.dw.com\/en\/egypt-president-el-sissis-difficult-economic-makeover\/a-64709726\" style=\"\">Deutsche Welle<\/a><\/span><span style=\"font-weight:400;\"> are both out with pieces asking whether the government will deliver on its pledges to reform the economy in favor of the private sector.<\/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\">A long way to Cairo:<\/span><span style=\"\"> Western airlines are having to take detours to avoid <\/span><span>Russian and Belarusian airspace, while the EU\u2019s ban on airlines from these nations overflying its territory has forced them to take strange prolonged routes to several holiday destinations, including Egypt\u2019s Red Sea, leading to increased costs and carbon emissions. (<\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/www.independent.co.uk\/travel\/news-and-advice\/russia-belarus-flight-paths-turkey-egypt-b2281889.html\" style=\"\">The Independent<\/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\">Six<\/span><span style=\"font-weight:700\"> Egyptians released from detention in Libya:<\/span><span style=\"\"> Six Egyptian Christians who were <\/span><span>kidnapped earlier this month in western Libya have been released, according to the <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/twitter.com\/MfaEgypt\/status\/1626644784638050304?s=20\" style=\"\">Foreign Ministry<\/a><\/span><span>. The men were abducted after they traveled to Libya in search of work. (<\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/apnews.com\/article\/politics-libya-government-egypt-tripoli-ff3d406c4582536089c1886d63f0cf9a\" style=\"\">Associated Press<\/a><\/span><span> | <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/www.ucanews.com\/news\/egypt-says-six-coptic-christians-held-in-libya-released\/100414\" style=\"\">AFP<\/a><\/span><span> | <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/english.aawsat.com\/home\/article\/4165971\/egypt-says-six-copts-held-libya-released\" style=\"\">Asharq Al Awsat<\/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\">MEANWHILE-<\/span><span style=\"\"> <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/apnews.com\/article\/politics-egypt-government-cairo-471b32e0f7edcfdc9664179c8e32ec00\" style=\"\">AP<\/a><\/span><span style=\"\"> reports that former anti-graft chief Hisham Genena was released from prison after serving a five-year sentence<\/span><span style=\"\">, while civil engineer Mamdouh Hamza has reportedly returned to Egypt <\/span><span style=\"\">(<\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/www.facebook.com\/mamdouh.hamza.77\/posts\/pfbid02ndoijRA8EUa1vGYqMebo4LLGswFhW1tPMRd1RFfYyZ9ePHrVYbBECBQEAHVCBGNEl?_rdc=1&_rdr\" style=\"\">watch, runtime: 2:38<\/a><\/span><span style=\"\">)<\/span><span style=\"\">, <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/www.shorouknews.com\/news\/view.aspx?cdate=13022023&id=8505c394-cb04-4c3b-b82e-718482b072c8\" style=\"\">Al Shorouk<\/a><\/span><span style=\"font-weight:400;\"> says. <\/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-<\/span><span style=\"\"> The new Badr prison gets ink from <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/www.reuters.com\/world\/africa\/egypts-model-prison-rife-with-abuses-inmates-families-activists-say-2023-02-15\/\" style=\"\">Reuters<\/a><\/span><span style=\"\">, <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/apnews.com\/article\/surgery-trauma-egypt-health-religion-3557cd557f5061c0e416aa3b68d4fb44\" style=\"\">AP<\/a><\/span><span style=\"\"> is talking about FGM, and the <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/www.theguardian.com\/world\/2023\/feb\/14\/giulio-regeni-court-calls-italys-pm-and-foreign-minister-as-witnesses\" style=\"\">Guardian<\/a><\/span><span style=\"\"> has a report from Rome on the unresolved murder of Giulio Regeni. <\/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\/egypt-italy-relations\/\">Egypt-Italy relations<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/giulio-regeni\/\">Giulio Regeni<\/a>\n                <!-- <span 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data-image-title=\"carla-slim-egp-1600px.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2023\/2\/carla-slim-egp-1600px.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2023\/2\/carla-slim-egp-1600px.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-581665\" class=\"content-area-description single-story post-581665 post type-post status-publish format-standard has-post-thumbnail hentry category-also-on-our-radar tag-also-on-our-radar tag-commodities tag-economy tag-egp tag-energy tag-enterpriseam tag-foreign-exchange tag-gasc tag-google tag-investment-watch tag-oman tag-renewables tag-transport tag-travel tag-wheat 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><\/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=\"font-weight:700;\">ECONOMY-<\/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\">Uncertainty over privatization could put more pressure on the EGP \u2013StanChart <\/span><span style=\"font-weight:700\">analyst:<\/span><span> <\/span><span>The EGP could decline to 33-35 against the greenback if expected inflows from the state privatization program are delayed, Carla Slim, MENA economist at Standard Chartered, told Bloomberg on Friday (<\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/www.bloomberg.com\/news\/videos\/2023-02-17\/slim-don-t-rule-out-more-pressure-to-egp\" style=\"\">watch, runtime: 5:55<\/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 market expects a significant decline against the USD:<\/span><span style=\"font-weight:400;\"> Currency forwards have again begun to widen against the spot rate, with 12-month non-deliverable forwards trading at 36 on Friday against the 30.48 current market price. <\/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 are waiting for \u201csignificant and clear signals\u201d that the government will deliver on its privatization pledges<\/span><span style=\"font-weight:400;\"> and that the GCC states respond with bns of USD in investment. Until this, sentiment is remaining \u201cundecided\u201d with some investors expressing cautious optimism and others maintaining a bearish outlook over the short, medium and long-term, Slim 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;\">INVESTMENT-<\/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 Omanis are considering investing in Egypt:<\/span><span style=\"\"> Oman\u2019s sovereign wealth fund, the <\/span><span>Oman Investment Authority (OIA), is mulling investment opportunities in several sectors in the country, <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/www.shorouknews.com\/news\/view.aspx?cdate=18022023&id=91360738-26d6-4b04-8f2e-d32d3593da41\" style=\"\">Al Shorouk<\/a><\/span><span> reported, citing sources <\/span><span style=\"\">it says<\/span><span> are in the know. <\/span><span style=\"\">The newspaper\u2019s sources <\/span><span>tell it a delegation from the OIA expressed interest in acquiring shares in companies operating in energy and renewables, tech, healthcare, food and beverage and logistics during a visit to Cairo earlier this month. <\/span><span style=\"\">The OIA could execute its first transaction if talks pan out.<\/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\">REMEMBER-<\/span><span> <\/span><span style=\"font-weight:700\">Egypt wants as much Gulf money as possible:<\/span><span> Senior Egyptian officials have been marketing state-owned companies and projects to Gulf investors in recent days as the government tries to drum up interest in its rebooted privatization program. Oman was one of the countries <\/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=\"\">visited by<\/a><\/span><span style=\"font-weight:400;\"> Planning Minister Hala El Said and Sovereign Fund of Egypt CEO Ayman Soliman earlier this month.<\/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;\">COMMODITIES- <\/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\">GASC just launched the <\/span><span style=\"-webkit-text-decoration-skip:none;font-weight:700;text-decoration-skip-ink:none\"><a href=\"https:\/\/enterprise.press\/stories\/2023\/02\/05\/suez-canal-receives-record-monthly-revenues-95387\/\" style=\"\">third<\/a><\/span><span style=\"font-weight:700\"> World Bank-backed wheat tender:<\/span><span style=\"\"> <\/span><span style=\"\">GASC announced an <\/span><span style=\"\">international wheat tender backed by the World Bank, according to <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/sa.investing.com\/news\/stock-market-news\/article-2378736\" style=\"\">Reuters<\/a><\/span><span style=\"\">, <\/span><span style=\"font-weight:400;\">citing a statement from the state grains buyer. The tender is inviting offers to supply 30k, 40k, 50k, 55k or 60k tons  on a cost and freight basis for shipment from 1 to 15 April. The deadline for offers is Wednesday 22 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:700\">REMEMBER<\/span><span style=\"\">- The purchases<\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/enterprise.press\/stories\/2023\/01\/09\/a-fresh-gasc-tender-for-wheat-backed-by-the-world-bank-93057\/\" style=\"\">are funded<\/a><\/span><span style=\"\">with a portion of the <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/enterprise.press\/stories\/2022\/07\/03\/gasc-makes-huge-wheat-buy-world-bank-approves-usd-500-mn-loan-75097\/\" style=\"\">USD 500 mn loan<\/a><\/span><span style=\"\"> the World Bank agreed to extend the country last summer. The loan is geared towards boosting our food security.<\/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;\">TRAVEL-<\/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 flights between Dubai and Cairo from October: <\/span><span style=\"\">Emirates will add an additional two daily flights <\/span><span>from Dubai to Cairo and two on the return trip from 29 October, according to <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/ent.news\/2023\/2\/Emirates-boosts-operations-to-Cairo.pdf\" style=\"\">a statement (pd<\/a><\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/ent.news\/2023\/2\/Emirates-boosts-operations-to-Cairo.pdf\" style=\"\">f)<\/a><\/span><span>. <\/span><span style=\"font-weight:400;\">The airline will operate four daily flights.<\/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;\">TRANSPORT-<\/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\">A new Israeli shuttle service:<\/span><span style=\"\"> <\/span><span style=\"\">Japanese <\/span><span style=\"\">container line Ocean Network Express (ONE) <\/span><span>announced a new weekly Israel shuttle service connecting Damietta to Israel\u2019s Haifa and Ashdod ports, it said in a <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/www.one-line.com\/sites\/g\/files\/lnzjqr776\/files\/2023-02\/EN_Press%20Release_ONE%20Unveils%20New%20Israel%20Shuttle%20Service%20%28ILX%29.pdf\" style=\"\">statement (pdf)<\/a><\/span><span> Friday<\/span><span style=\"font-weight:400;\">. \u201cThis new shuttle service was created in response to the growing demand for both import and export cargo from Israel,\u201d the statement said. The Israel Express (ILX) service will launch starting 29 March, the statement 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\">More eco-friendly buses:<\/span><span style=\"\"> The Local Development Ministry plans to purchase 200 <\/span><span>electric and gas-powered buses in April at an estimated cost of EGP 1 bn, according to <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/www.alborsaanews.com\/2023\/02\/18\/1634115\" style=\"\">Al Borsa<\/a><\/span><span>.<\/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;\">TECH-<\/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\">Could Google expand its cloud + data center footprint in Egypt? <\/span><span style=\"\">This was the <\/span><span>subject of a meeting between the company\u2019s MENA directors and Communications Minister Amr Talaat on the sidelines of last week\u2019s World Government Summit in Dubai, according to a <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/bit.ly\/3YzvXBp\" style=\"\">ministry statement<\/a><\/span><span>.<\/span><span style=\"font-weight:700\"> <\/span><span style=\"font-weight:400;\">The minister also met with regional Meta execs to discuss cooperation on the metaverse and AI, according to the statement.<\/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- There was big news on data centers out of Dubai last week: <\/span><span>El Sewedy Data Centers and Emirati firm Gulf Data Hub signed an agreement to invest USD 2.1 bn to build <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/enterprise.press\/stories\/2023\/02\/15\/we-could-host-africas-largest-data-center-complex-96901\/\" style=\"\">three data center complexes<\/a><\/span><span style=\"font-weight:400;\"> in Egypt at the Dubai summit, pushing forward government ambitions to turn the country into a regional data hub.<\/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;\">ENERGY-<\/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\">Cairo Airport solar facility?<\/span><span style=\"\"> The civil aviation and environment ministries are in talks <\/span><span>with the UN to fund a USD 15 mn solar installation at Cairo International Airport, Magdy Ishak, chairman of the Cairo Airport Company, reportedly told <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/www.shorouknews.com\/news\/view.aspx?cdate=18022023&id=44e0d134-aba8-41fa-bfae-ce91e788ef63\" style=\"\">Al Shorouk<\/a><\/span><span>. He said the ministries are seeking a grant from the United Nations Development Programme to finance the plant by 2027. His statements come weeks after a 300-KWh, EGP 4.5 mn solar facility was inaugurated at the airport\u2019s multi-storey car park last month. The UNDP provided EGP 3.5 mn of the finance.<\/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\/also-on-our-radar\/\">ALSO ON OUR RADAR<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/commodities\/\">commodities<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/economy\/\">economy<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/egp\/\">EGP<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n               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              <\/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\/19\/adnoc-gas-on-course-to-be-one-of-the-worlds-largest-listed-gas-firms\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-581667\" class=\"content-area-description single-story post-581667 post type-post status-publish format-standard hentry category-planet-finance tag-adnoc tag-capital-markets tag-enterpriseam tag-financial-markets tag-gaming tag-ipo-watch tag-pif tag-planet-finance 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\/.129775cc-a20e-4e86-94e7-ffc5c6fe8cf0.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=\"\"><\/span><\/p><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\">Adnoc Gas is set to raise some USD 2 bn in its upcoming IPO<\/span><span style=\"\">, valuing the company <\/span><span>at USD 50 bn and making it <\/span><span>one of t<\/span><span>he world\u2019s largest<\/span><span> listed gas compan<\/span><span>ies, <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/www.bloomberg.com\/news\/articles\/2023-02-17\/abu-dhabi-s-adnoc-to-sell-4-stake-in-gas-business-via-ipo?srnd=premium-middle-east\" style=\"\">Bloomberg<\/a><\/span><span> reports, citing sources close to the transaction. <\/span><span>The natural gas arm of the UAE\u2019s national energy company will sell some 4% (3 bn shares) to investors, according to an <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/ent.news\/2023\/2\/UAE-Public-Announcement-The-National.pdf\" style=\"\">announcement (pdf)<\/a><\/span><span>. The IPO\u2019s offer period kicks off next Thursday, 23 February, with shares set to hit the ADX on 13 March<\/span><span>. It will mark the first major listing in the Gulf in 2023, after last year\u2019s <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/enterprise.press\/stories\/2022\/04\/13\/dubai-becomes-a-top-five-ipo-destination-as-dewa-shares-soar-on-debut-69163\/\" style=\"\">red-hot market<\/a><\/span><span> saw the region raise almost USD 23 bn, according to Bloomberg.<\/span><\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:700\">Another bad week for the S&amp;P 500:<\/span><span style=\"\"> Investors continued to ditch US stocks in fear that <\/span><span>the Federal Reserve will continue to raise rates, pushing the benchmark S&amp;P 500 index to record its second consecutive week of losses, the <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/www.ft.com\/content\/473e461b-f8e9-4769-88a6-2f04b252b612\" style=\"\">Financial Times wrote<\/a><\/span><span>. <\/span><span>The index slipped 0.3% on Friday, for a net loss of 0.3% for the week<\/span><span style=\"font-weight:400;\">, as a rally that began in the new year continued to lose steam. <\/span><\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:700\">A return to bigger rate hikes from the Fed? <\/span><span>A number of officials at the US Fed last week threw their weight behind maintaining a hawkish stance to raise rates by 50 bps when it next meets on 21-22 March, on the back of strong jobs data and persistently high inflation. The US central bank in January <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/enterprise.press\/stories\/2023\/02\/02\/this-morning-the-fed-hiked-rates-yesterday-will-the-cbe-follow-today-95283\/\" style=\"\">hiked rates by 2<\/a><\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/enterprise.press\/stories\/2023\/02\/02\/this-morning-the-fed-hiked-rates-yesterday-will-the-cbe-follow-today-95283\/\" style=\"\">5 b<\/a><\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/enterprise.press\/stories\/2023\/02\/02\/this-morning-the-fed-hiked-rates-yesterday-will-the-cbe-follow-today-95283\/\" style=\"\">ps<\/a><\/span><span> \u2014 a comparatively smaller increase \u2014 to a target range of 4.5-4.75%.<\/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><span style=\"\"> <\/span><span style=\"font-weight:700\">PIF becomes Nintendo\u2019s largest outside shareholder:<\/span><span style=\"\"> T<\/span><span style=\"\">he <\/span><span style=\"\">Saudi <\/span><span>wealth fund in<\/span><span>creased its stake in Japanese gaming company Nintendo to 8.3%, becoming the company\u2019s biggest outside shareholder after Nintendo\u2019s own holding, according to <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/www.bloomberg.com\/news\/articles\/2023-02-17\/saudi-arabia-becomes-largest-outside-shareholder-of-nintendo?srnd=premium-middle-east\" style=\"\">Bloomberg<\/a><\/span><span>.<\/span><\/p><p><a id=\"t.f0b7ea075fc1dc54ffdea11bdfb79c2bb3a9f360\"><\/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:1.15;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:1.15;text-align:left\"><span style=\"font-weight:400;\">17,489<\/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:1.15;text-align:left\"><span style=\"font-weight:400;\">-0.2% (YTD: +19.8%)<\/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:1.15;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:1.15;text-align:left\"><span style=\"font-weight:400;\">Buy 30.51<\/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:1.15;text-align:left\"><span style=\"font-weight:400;\">Sell 30.60<\/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:1.15;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:1.15;text-align:left\"><span style=\"font-weight:400;\">Buy 30.52<\/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:1.15;text-align:left\"><span style=\"font-weight:400;\">Sell 30.62<\/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:1.15;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:1.15;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:1.15;text-align:left\"><span style=\"font-weight:400;\">17.25% lending<\/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:1.15;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:1.15;text-align:left\"><span style=\"font-weight:400;\">10,548<\/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:1.15;text-align:left\"><span style=\"font-weight:400;\">-0.2% (YTD: +0.7%)<\/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:1.15;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:1.15;text-align:left\"><span style=\"font-weight:400;\">9,977<\/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:1.15;text-align:left\"><span style=\"font-weight:400;\">+0.2% (YTD: -2.3%)<\/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:1.15;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:1.15;text-align:left\"><span style=\"font-weight:400;\">3,458<\/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:1.15;text-align:left\"><span style=\"font-weight:400;\">-0.3% (YTD: +3.7%)<\/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:1.15;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:1.15;text-align:left\"><span style=\"font-weight:400;\">4,079<\/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:1.15;text-align:left\"><span style=\"font-weight:400;\">-0.3% (YTD: +6.2%)<\/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:1.15;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:1.15;text-align:left\"><span style=\"font-weight:400;\">8,004<\/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:1.15;text-align:left\"><span style=\"font-weight:400;\">-0.1% (YTD: +7.4%)<\/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:1.15;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:1.15;text-align:left\"><span style=\"font-weight:400;\">4,275<\/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:1.15;text-align:left\"><span style=\"font-weight:400;\">-0.5% (YTD: +12.7%)<\/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:1.15;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:1.15;text-align:left\"><span style=\"font-weight:400;\">USD 83.00<\/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:1.15;text-align:left\"><span style=\"font-weight:400;\">-2.5%<\/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:1.15;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:1.15;text-align:left\"><span style=\"font-weight:400;\">USD 2.28<\/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:1.15;text-align:left\"><span style=\"font-weight:400;\">-4.8%<\/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:1.15;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:1.15;text-align:left\"><span style=\"font-weight:400;\">USD 1,850.20<\/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:1.15;text-align:left\"><span style=\"font-weight:400;\">-0.1%<\/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:1.15;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:1.15;text-align:left\"><span style=\"font-weight:400;\">USD 24,620<\/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:1.15;text-align:left\"><span style=\"font-weight:400;\">+0.6% (YTD: +49.0%)<\/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 fell 0.2% at Thursday\u2019s close<\/span><span style=\"\"> on turnover of EGP 2.5 bn (29.8% above the 90-day <\/span><span style=\"font-weight:400;\">average). Foreign investors were net sellers. The index is up 19.8% 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;\">Alexandria Mineral Oils Company (+7.3%), Elsewedy Electric (+5.9%) and Qalaa Holdings (+3.8%).<\/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>Rameda Pharma (-2.7%), Juhayna (-1.8%) and Telecom Egypt (-1.7%).<\/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\/adnoc\/\">ADNOC<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" 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Finance<\/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=\"581669\" 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=\"581669\">\r\n            \r\n                <div class=\"issue-story-header text-center\">\r\n                    <div class=\"index-number\">10<\/div>\r\n\r\n                    <p class=\"f-graphik\">Diplomacy<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2023\/02\/19\/shoukry-attends-2023-african-union-summit-in-ethiopia\/\">\r\n                            Shoukry attends 2023 African Union summit in Ethiopia 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data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2023\/2\/African-Union-summit-2023-1600px.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"African-Union-summit-2023-1600px.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2023\/2\/African-Union-summit-2023-1600px.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2023\/2\/African-Union-summit-2023-1600px.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-581669\" class=\"content-area-description single-story post-581669 post type-post status-publish format-standard has-post-thumbnail hentry category-diplomacy tag-african-continental-free-trade-area tag-african-union tag-cyprus tag-diplomacy tag-enterpriseam tag-foreign-ministry tag-gerd tag-politics tag-sameh-shoukry 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\/.11341275-249f-4063-a488-b824b7556a93.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=\"font-weight:700\">Shoukry attends AU summit:<\/span><span style=\"\"> Foreign Minister Sameh Shoukry was in Addis Ababa <\/span><span>yesterday for the annual <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/au.int\/en\/pressreleases\/20230218\/36th-au-summit-urges-member-states-double-spirit-pan-africanism-solidarity\" style=\"\">African Union (AU) summit<\/a><\/span><span>, which brought the continent\u2019s 55 countries together to discuss food and energy security, climate change and the African Continental Trade Agreement. The session also saw Senegal <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/au.int\/en\/pressreleases\/20230218\/president-azali-assoumani-union-comoros-takes-over-new-chairperson\" style=\"\">hand the AU presidency<\/a><\/span><span style=\"font-weight:400;\"> to the Comoros. During the summit, Shoukry discussed:<\/span><\/p>\n<ul>\n<li><span>the situation in Libya with <\/span><span>Tunisian<\/span><span> foreign minister <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/www.facebook.com\/EgyptianCabinet\/posts\/pfbid02vqXcGtG75yERx2wLHx3rXSKhMFsfEVvy67Q2zijtTMNruwT4B9sRgpZeYSjg3GtTl\" style=\"\">Nabil Ammar<\/a><\/span><span style=\"font-weight:400;\">;<\/span><\/li>\n<li><span>the dispute over the Grand Ethiopian Renaissance Dam (GERD) with the UN\u2019s envoy to the Horn of Africa, <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/www.facebook.com\/EgyptianCabinet\/posts\/pfbid036EpBBa1ibWP1Aqb5kgFbkmB3xgR9bUYreZfUSEfBwBHxictKuYrQWVfrUVSZc9ncl\" style=\"\">Hanna Tetteh<\/a><\/span><span style=\"font-weight:400;\">;<\/span><\/li>\n<li><span>the new AU presidency with his Comorian counterpart <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/www.facebook.com\/MFAEgypt\/posts\/pfbid02MXGka9BE5tTMH4QQBe5mAj7e9xffvLGvUBBcjGpc73wTuwftQ6ES95qH1CwVsc9el\" style=\"\">Dhoihir Dhoulkamal<\/a><\/span><span>.<\/span><\/li>\n<\/ul>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:700\">The attending Israeli delegation didn\u2019t make it past the opening ceremony:<\/span><span style=\"\"> The senior <\/span><span>diplomat representing Israel \u2014 which was <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/au.int\/en\/pressreleases\/20220206\/remarks-chairperson-granting-observer-state-israel\" style=\"\">granted AU observer status<\/a><\/span><span> in 2021 \u2014 was ejected from the summit\u2019s opening ceremony yesterday. An AU spokesperson <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/www.reuters.com\/world\/africa\/top-israeli-diplomat-ejected-au-summit-row-escalates-2023-02-18\/\" style=\"\">said<\/a><\/span><span> the diplomat was removed because she was not the accredited Israeli ambassador to Ethiopia, b<\/span><span>ut the Israeli foreign ministry <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/www.france24.com\/en\/africa\/20230218-israel-condemns-expulsion-of-its-diplomat-from-african-union-summit\" style=\"\">blamed<\/a><\/span><span style=\"font-weight:400;\"> \u201cextremist states\u201d Algeria and South Africa, as well as Iran. <\/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 Israel:<\/span><\/p>\n<ul>\n<li><span style=\"font-weight:700\">Int\u2019l leaders condemn new Israeli settlements: <\/span><span style=\"\">The decision by Israel\u2019s new far-right <\/span><span>government to legalize nine settlement outposts in the occupied West Bank has drawn <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/www.state.gov\/joint-statement-of-the-foreign-ministers-of-france-germany-italy-the-united-kingdom-and-the-united-states-on-the-israeli-settlement-announcement\/\" style=\"\">international condemnation<\/a><\/span><span style=\"font-weight:400;\">. <\/span><\/li>\n<li><span style=\"font-weight:700\">Israeli president issues stark warning:<\/span><span style=\"\"> Israeli president Isaac Herzog last week <\/span><span>warned of the country\u2019s \u201csocietal and constitutional collapse\u201d as protests against the new far-right government\u2019s judicial reforms grew. (<\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/www.timesofisrael.com\/herzog-warns-of-looming-societal-collapse-lays-out-compromise-on-legal-overhaul\/\" style=\"\">Times of Israel<\/a><\/span><span style=\"font-weight:400;\">)<\/span><\/li>\n<\/ul>\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 DIPLOSPHERE-<\/span><\/p>\n<ul>\n<li><span style=\"font-weight:700\">Kenya has asked for Egypt\u2019s backing for its efforts to \u201cactivate\u201d the African <\/span><span style=\"font-weight:700\">Continental Trade Agreement (AfCFTA)<\/span><span>, in a letter sent by Kenyan President William Ruto to President El Sisi, according to a <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/www.facebook.com\/Egy.Pres.Spokesman\/posts\/pfbid02A8mbNQYHJpYaeMHRu4e6Lcrw6jK9ZYj9t4g9AFx9Nz1311QrYyUf7nGh2JsqJz8Al\" style=\"\">statement<\/a><\/span><span style=\"font-weight:400;\"> by Ittihadiya.<\/span><\/li>\n<li><span style=\"font-weight:700\">A new president in Nicosia:<\/span><span style=\"\"> El Sisi congratulated Nikos Christodoulides on his <\/span><span>victory in the Cypriot presidential elections last week, Ittihadiya <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/www.facebook.com\/Egy.Pres.Spokesman\/posts\/pfbid02ZrP6v9jtQZTuh2z91NTczV3xSXv9p1xs2ETyJzRuFgwWSaVynTnHTin73T7dLrDbl\" style=\"\">said<\/a><\/span><span>.<\/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\/african-continental-free-trade-area\/\">African Continental Free Trade Area<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/african-union\/\">African Union<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/cyprus\/\">Cyprus<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/diplomacy\/\">DIPLOMACY<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/foreign-ministry\/\">Foreign Ministry<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/gerd\/\">GERD<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/politics\/\">politics<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/sameh-shoukry\/\">Sameh Shoukry<\/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=\"581671\" 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\/19\/581671\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-581671\" class=\"content-area-description single-story post-581671 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;\">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>23 February (Thursday): Telecom Egypt to <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"\" style=\"\">announce<\/a><\/span><span style=\"font-weight:400;\"> its 2022 results.<\/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;\">24-26 February (Friday-Sunday): The Egyptian Private Equity Association and the African Private Equity and Venture Capital Association are hosting a three-day private capital funds masterclass.<\/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>March: Gov\u2019t to <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/www.shorouknews.com\/news\/view.aspx?cdate=09022023&id=215b7f00-5e2e-4a3a-889f-b43e1d66cd39\" style=\"\">launch<\/a><\/span><span> the <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/www.sis.gov.eg\/Story\/174696\/Planning-minister-follows-up-on-plan-for-National-Governance-Index?lang=en-us\" style=\"\">National Governance Index<\/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>Beginning of March: Rice to be added to the EMX.<\/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 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 style=\"font-weight:400;\">, Intercontinental Cairo Semiramis. <\/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":581646,"menu_order":0,"template":"","categories":[],"tags":[],"class_list":["post-581645","issue","type-issue","status-publish","has-post-thumbnail","hentry","wpautop","entry"],"acf":{"mongo_id":"ba3d4d2d-745e-49bf-9661-ecfd8a2e16a9","teaser":"","photo_url":"https:\/\/ent.news\/2023\/2\/164.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>Investment banks to wrap up sukuk roadshow tomorrow - 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\/investment-banks-to-wrap-up-sukuk-roadshow-tomorrow\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" 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