{"id":582233,"date":"2023-03-05T00:00:00","date_gmt":"2023-03-05T00:00:00","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/?post_type=issue&#038;p=582233"},"modified":"2025-12-16T13:06:40","modified_gmt":"2025-12-16T13:06:40","slug":"el-sisi-announces-egp-150-bn-package-targeting-state-workers-pensioners-amid-soaring-inflation","status":"publish","type":"issue","link":"https:\/\/enterpriseam.com\/egypt\/issues\/el-sisi-announces-egp-150-bn-package-targeting-state-workers-pensioners-amid-soaring-inflation\/","title":{"rendered":"El Sisi announces EGP 150 bn package targeting state workers, pensioners amid soaring inflation"},"content":{"rendered":"<section id=\"582235\" 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=\"582235\">\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\/03\/05\/this-morning-its-pmi-day-uber-fares-hiked-again\/\">\r\n                            It\u2019s PMI day in Egypt + Uber fares hiked (again)                        <\/a>\r\n                    <\/h3>\r\n\r\n                    \r\n\t\t\t\t\t\n<div class=\"cta\">\n    <div class=\"cta__btn share-dropdown-cta dropdown-toggle-btn\" style=\"position:relative\">\n        <img decoding=\"async\" src=\"https:\/\/ent.news\/internal\/408834.svg\" alt=\"\">\n        Share Story\n        <!-- Dropdown Menu -->\n        <ul class=\"share-menu\">\n            <li class=\"list-inline-item\">\n                <a 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decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2022\/10\/inflation-1600.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"582236\" data-permalink=\"https:\/\/enterpriseam.com\/egypt\/2023\/03\/05\/this-morning-its-pmi-day-uber-fares-hiked-again\/inflation-1600-jpg\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2022\/10\/inflation-1600.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"inflation-1600.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2022\/10\/inflation-1600.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2022\/10\/inflation-1600.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-582235\" class=\"content-area-description single-story post-582235 post type-post status-publish format-standard has-post-thumbnail hentry category-what-were-tracking-today tag-data tag-diplomacy tag-economy tag-egp tag-egypt-us-relations tag-enterpriseam tag-foreign-exchange tag-inflation tag-pmi tag-politics tag-ride-hailing tag-senate tag-supply-chains tag-transport tag-uber tag-what-were-tracking-today wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<aside>\t\t\t<div\r\n\t\t\t\t\t\t\t\tclass=\"newspack-popup-container newspack-popup hidden  newspack-inline-popup  newspack-lightbox-no-border   \"\r\n\t\t\t\trole=\"button\"\r\n\t\t\t\ttabindex=\"0\"\r\n\t\t\t\tstyle=\"background-color:#FFFFFF;color:#000\"\r\n\t\t\t\tid=\"id_27645\"\r\n\t\t\t\tdata-segments=\"\"\r\n\t\t\t\tdata-frequency=\"0,0,0,month\"\r\n\t\t\t>\r\n\t\t\t\t\n<div class=\"wp-block-group has-light-gray-background-color has-background\" style=\"padding-top:0px;padding-right:0px;padding-bottom:0px;padding-left:0px\"><div class=\"wp-block-group__inner-container is-layout-constrained wp-container-core-group-is-layout-ef38739e wp-block-group-is-layout-constrained\">\n<div class=\"wp-block-group is-content-justification-center is-nowrap is-layout-flex wp-container-core-group-is-layout-94bc23d7 wp-block-group-is-layout-flex\">\n<p class=\"f-graphik\" style=\"font-size:14px\">Together with<\/p>\n\n\n<div class=\"wp-block-image\">\n<figure class=\"aligncenter size-full\"><img decoding=\"async\" src=\"https:\/\/s3.amazonaws.com\/resources.inktankir.com\/internal\/27482.svg\" alt=\"\" class=\"wp-image-27482\"\/><\/figure>\n<\/div><\/div>\n<\/div><\/div>\n\t\t\t<\/div>\r\n\t\t<\/aside>\n<figure class=\"wp-block-audio mb-0\"><audio controls preload=\"metadata\" src=\"https:\/\/s3.us-east-1.amazonaws.com\/ent.news\/audio\/2023\/3\/.2dadbf63-382d-4d9e-9b7e-7ccc3ff8b3e8.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><\/span><\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:400;\"><\/span><\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:700\">Good morning, friends, and welcome to a very brisk news morning <\/span><span style=\"font-weight:400;\">as we start this first full week of March.<\/span><\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:700\">EGP WATCH- EGP undervalued by 30% says Credit Suisse:<\/span><span style=\"\"> Credit Suisse thinks the <\/span><span>fair value of the EGP is 30% higher than current levels, setting the real USD exchange rate at 23.8, according to <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/bit.ly\/3T4Bs9r\" style=\"\">Al Mal<\/a><\/span><span>, <\/span><span>which <\/span><span style=\"\">says it <\/span><span>obtained a copy of the note from the Swiss bank. The<\/span><span> <\/span><span>official exchange rate<\/span><span> on Thursday put the EGP at 30.78 after slipping another 0.3% during the day. <\/span><span style=\"\">By contrast, Societe Generale says it sees the EGP at 34.00 by the end of the month, according to a <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/www.bloomberg.com\/news\/articles\/2023-02-24\/egypt-likely-to-devalue-currency-again-societe-generale-says?sref=mmeFTDW1\" style=\"\">Bloomberg<\/a><\/span><span style=\"font-weight:400;\"> report.<\/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\">Net foreign assets deteriorate in January:<\/span><span style=\"\"> The net foreign liability position of the Egyptian <\/span><span>banking system widened to USD 21.7 bn in January from USD 20 bn the month before following <\/span><span>two mont<\/span><span>hs of <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/enterprise.press\/stories\/2023\/02\/01\/this-morning-the-new-month-should-bring-big-privatization-news-95138\/\" style=\"\">improvement<\/a><\/span><span style=\"font-weight:400;\">, according to an EFG Hermes client note, which picked up central bank data. Commercial banks were responsible for much of the decline, with their liabilities growing by USD 1.4 bn to USD 13.1 bn.<\/span><\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:700\">PSA #1- Your Uber just got pricier: <\/span><span style=\"\">Ride-hailing app Uber has raised its prices for the <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/enterprise.press\/stories\/2023\/02\/01\/this-morning-the-new-month-should-bring-big-privatization-news-95138\/\" style=\"\">second time in a month<\/a><\/span><span>, this time in response to the government\u2019s decision to <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/enterprise.press\/stories\/2023\/03\/02\/fuel-prices-are-rising-7-11-today-98365\/\" style=\"\">raise fuel prices<\/a><\/span><span> by as much as 11%  last week. The<\/span><span> minimum charge <\/span><span>for UberX, UberX Saver and Uber Comfort has increased by 7.5-8% whil<\/span><span>e the base rate<\/span><span style=\"font-weight:400;\"> is by as much as 11%, according to an email sent to Uber customers over the weekend. <\/span><\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:700\">PSA #2- It\u2019s going to be hot and windy today<\/span><span style=\"\">, with the mercury hitting an unseasonably warm <\/span><span style=\"font-weight:400;\">35\u00b0C and the wind picking up some time around 11am CLT, raising the prospect of anything from blowing dust to a modest sandstorm. <\/span><\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:700\">PSA #3- We have 18 days (and just two weekends) left before Ramadan<\/span><span style=\"\">, which gets <\/span><span style=\"font-weight:400;\">underway on or about Thursday, 23 March. Maghreb will be at 6:08pm CLT.<\/span><\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:700\">WHAT\u2019S HAPPENING TODAY-<\/span><\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:700\">It\u2019s <\/span><span style=\"font-weight:700\">PMI day:<\/span><span style=\"\"> S&amp;P Global will release Egypt\u2019s February purchasing managers\u2019 index just after <\/span><span>we hit \u201csend\u201d on this morning\u2019s issue. <\/span><span style=\"\">The 26-month contraction in Egypt\u2019s private sector <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/enterprise.press\/stories\/2023\/02\/06\/egp-devaluation-pushes-private-sector-into-sharper-decline-in-january-95585\/\" style=\"\">accelerated in January<\/a><\/span><span style=\"font-weight:400;\"> as inflation fuelled by the devaluation of the EGP weighed on business activity.<\/span><\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:700\">It\u2019s the final day of the <\/span><span style=\"-webkit-text-decoration-skip:none;font-weight:700;text-decoration-skip-ink:none\"><a href=\"https:\/\/www.egyptcsrforum.com\/\" style=\"\">Egypt CSR &amp; Sustainable Development Forum<\/a><\/span><span style=\"\"> in <\/span><span style=\"\">Hurghada<\/span><span style=\"\">.<\/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 Senate is back in session <\/span><span>and its various committees have a busy day ahead:<\/span><\/p><ul>\n<li><span style=\"\">The <\/span><span style=\"font-weight:700\">Senate Economic and Financial Affairs Committee<\/span><span style=\"\"> will continue discussing a <\/span><span>report by the pro-government Mostaqbal Watan party on <\/span><span style=\"font-weight:700\">how to attract more FDI<\/span><span style=\"font-weight:400;\">;<\/span><\/li>\n<li><span style=\"\">The <\/span><span style=\"font-weight:700\">Energy Committee<\/span><span style=\"\"> will discuss Egypt\u2019s potential to become a regional hub for <\/span><span style=\"font-weight:700\">green hydrogen<\/span><span> and a study on introducing <\/span><span style=\"font-weight:700\">a carbon tax<\/span><span style=\"font-weight:400;\">;<\/span><\/li>\n<li><span style=\"\">The <\/span><span style=\"font-weight:700\">Health Committee<\/span><span style=\"\"> will discuss methods to <\/span><span style=\"font-weight:700\">support the local pharma industry<\/span><span style=\"font-weight:400;\">;<\/span><\/li>\n<li><span>The <\/span><span style=\"font-weight:700\">Agriculture Committee<\/span><span> will <\/span><span style=\"font-weight:700\">review agricultural policies<\/span><span style=\"font-weight:400;\"> in light of the global economic crisis;<\/span><\/li>\n<li><span style=\"\">The <\/span><span style=\"font-weight:700\">Education Committee<\/span><span style=\"\"> will look into the Education Ministry\u2019s efforts <\/span><span style=\"font-weight:700\">supporting <\/span><span style=\"font-weight:700\">autistic students<\/span><span style=\"font-weight:400;\">;<\/span><\/li>\n<li><span style=\"\">The <\/span><span style=\"font-weight:700\">Defence and National Security Committee<\/span><span style=\"\"> will discuss <\/span><span style=\"font-weight:700\">cybercrime<\/span><span style=\"font-weight:400;\">.<\/span><\/li>\n<\/ul><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:700;\">HAPPENING THIS WEEK-<\/span><\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:700\">Our friends at EFG Hermes are hosting their annual One on One investor <\/span><span style=\"font-weight:700\">conference at the Atlantis Dubai this week.<\/span><span> It\u2019s the largest frontier and emerging markets investor conference globally. <\/span><span style=\"font-weight:400;\">The four-day event runs Monday through to Thursday.<\/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 US defense secretary is in Egypt:<\/span><span style=\"\"> US Secretary of Defense Lloyd J. Austin is <\/span><span>leaving the US this week for a multi-day trip in the Middle East that will take him to Egypt, Israel and Jordan, the Pentagon <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/www.defense.gov\/News\/Transcripts\/Transcript\/Article\/3317661\/brigadier-general-pat-ryder-pentagon-press-secretary-holds-a-press-briefing\/\" style=\"\">said<\/a><\/span><span> Thursday. The statement did not disclose details of his itinerary.<\/span><\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:700;\"><\/span><\/p><div class=\"row\">\n<div class=\"col-md-12 subscribe-box-panel\">\n<div class=\"\">\n<div class=\"title\">\n<h4 class=\"fw-lighter mb-10\">\n          Get <b style=\"font-weight: 700\">Enterprise<\/b> daily<br>\n        <\/h4>\n<\/div>\n<p class=\"mb-10\">The roundup of news and trends that move your markets and shape corporate agendas delivered straight to your inbox.<\/p>\n<p>     <a href=\"egypt\/en\/user\/NewsLetters\" type=\"button \" class=\"btn-green px-3 d-flex align-items-center\">Subscribe here<\/a>\n    <\/p><\/div>\n<\/div>\n<\/div><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:700;\">THE BIG STORY ABROAD-<\/span><\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:700\">China is on most of the global front pages this morning<\/span><span style=\"\"> after Beijing said it will set a growth <\/span><span>target of 5% for 2023. (<\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/apnews.com\/article\/china-economy-politics-2c335cb95a0bf42078fed230e40170e2?utm_source=homepage&amp;utm_medium=TopNews&amp;utm_campaign=position_07\" 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\/chinas-economy-government-revamp-focus-parliament-set-open-2023-03-04\/\" 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\/2023-03-05\/china-sets-modest-growth-target-as-economic-risks-persist?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.wsj.com\/articles\/china-sets-economic-growth-target-of-around-5-for-the-year-88eaff89\" style=\"\">WSJ<\/a><\/span><span> | <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/www.cnbc.com\/2023\/03\/05\/china-sets-gdp-target-of-around-5percent-for-2023.html\" style=\"\">CNBC<\/a><\/span><span style=\"font-weight:400;\">).<\/span><\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:700;\">MORNING MUST READ- <\/span><\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span> <\/span><span style=\"font-weight:700;\">For our fellow export nerds:<\/span><\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:700\">What will the supply chains of the future look like?<\/span><span style=\"\"> <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/ent.news\/2023\/3\/hsbc-global-supply-chains-networks-of-tomorrow.pdf\" style=\"\">Our friends at HSBC are out with a<\/a><\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/ent.news\/2023\/3\/hsbc-global-supply-chains-networks-of-tomorrow.pdf\" style=\"\">report (pdf)<\/a><\/span><span> <\/span><span style=\"font-weight:400;\">on how corporates around the world are navigating an uncertain supply chain environment redefined by the lingering impact of covid and the war in Ukraine.<\/span><\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:700\">Reminder: That shift in global supply chains gives Egypt a once-in-a-lifetime chance to rebuild an export-oriented economy. <\/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 key takeaway: Big companies are looking to simplify and shift supply lines closer to home to increase resilience.<\/span><span> More than two thirds of companies <\/span><span style=\"font-weight:400;\">in Asia Pacific and 60% elsewhere in the world said that they are likely to reduce their supply chain partners within the next 1-2 years, according to the survey of 787 businesses. <\/span><\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:700\">Companies are looking for reliable partners: <\/span><span style=\"\">\u201c<\/span><span style=\"font-weight:400;\">Reliability of supply has been a big problem over the past two years; a review of our supplier network has resulted in a 40% reduction in the number of partners we now regularly buy from, but resilience has improved,\u201d said the chief financial officer of an Indian consumer-goods manufacturer.<\/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 recent disruptions have firms stocking up:<\/span><span style=\"font-weight:400;\"> More than 8 in 10 of respondents said they had held excess inventory over the past two years due to the recent supply disruptions caused by the pandemic and higher freight rates, as well as in anticipation for further snarls coming down the line.<\/span><\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:700\">And you need to keep sustainability in mind if you want to sell to a global buyer: <\/span><span style=\"\">47% of respondents said they\u2019re investing in supply chain sustainability, while 37% are planning to to so in the next 12-24 months.<\/span><span style=\"font-weight:400;\"> <\/span><\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:700;\">Which brings us to:<\/span><\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:400;\"><a href=\"https:\/\/exportsfdi.enterprise.press\/registration.html\" target=\"_blank\" rel=\"noopener\"><img data-recalc-dims=\"1\" decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2023\/2\/ExportsFDIForum_1600.jpg?ssl=1\"><\/a><\/span><\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:700\">We are delighted to share with you that the Enterprise Exports &amp; FDI Forum <\/span><span style=\"\">will be taking <\/span><span style=\"\">place on<\/span><span style=\"font-weight:700\"> Monday, 15 May <\/span><span style=\"\">at the<\/span><span style=\"font-weight:700\"> Four Seasons Hotel at Nile Plaza.<\/span><\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:700\">DO YOU WANT TO ATTEND?<\/span><span style=\"\"> The first wave of invites is going out soon. If you\u2019re a C-suite exec, exporter, investor, official, banker, or someone who should be part of the conversation, please <\/span><span style=\"-webkit-text-decoration-skip:none;font-weight:700;text-decoration-skip-ink:none\"><a href=\"https:\/\/exportsfdi.enterprise.press\/registration.html\" style=\"\">TAP OR CLICK HERE<\/a><\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/exportsfdi.enterprise.press\/registration.html\" style=\"\">to request a spot at this exclusive event<\/a><\/span><span style=\"font-weight:400;\">.<\/span><\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:700\">What\u2019s the Enterprise Exports &amp; FDI Forum?<\/span><span style=\"font-weight:400;\"> It is the latest in our series of must-attend, invitation-only gatherings for C-suite-level business leaders. The Enterprise Exports &amp; FDI Forum will discuss the critical topics of exports and foreign direct investment (FDI) in Egypt. <\/span><\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:400;\">We will be taking an in-depth look into some of the most vital industry topics, including:<\/span><\/p><ul>\n<li><span style=\"font-weight:400;\">How to effectively break into new export markets<\/span><\/li>\n<li><span style=\"font-weight:400;\">How to leverage domestic trends in order to create export opportunities<\/span><\/li>\n<li><span style=\"font-weight:400;\">What foreign investors are looking for<\/span><\/li>\n<li><span style=\"font-weight:400;\">What the government's role should be <\/span><\/li>\n<\/ul><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:700\">Why now? <\/span><span style=\"\">Exports and foreign direct investment (FDI) have never been more important to our economy \u2014 or our businesses \u2014 than in the wake of the float of the EGP. We th<\/span><span>ink <\/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 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><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"\">Think of the Enterprise Exports &amp; FDI Forum as a hands-on lab for<\/span><span style=\"font-weight:700;\"> how to turn the devaluation of the EGP into something that will turbocharge your company and our economy.<\/span><\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;font-weight:700;\"><a href=\"https:\/\/exportsfdi.enterprise.press\/registration.html\" style=\"\">WANT TO ATTEND? Hit this link to let us know<\/a><\/span><span style=\"font-weight:700;\">.<\/span><\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:700\">WANT TO SHARE YOUR STORY ON STAGE?<\/span><span> Drop a note to <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"mailto:patrick@enterprisemea.com\" style=\"\">Patrick here and let\u2019s talk<\/a><\/span><span style=\"font-weight:400;\">.<\/span><\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:700\">WANT TO BECOME A COMMERCIAL PARTNER?<\/span><span> Ping a note to <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"mailto:mtaalab@inktankir.com\" style=\"\">Moustafa, our head of commercial, here<\/a><\/span><span>.<\/span><\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:700\">CIRCLE YOUR CALENDAR-<\/span><span style=\"font-weight:400;\"> <\/span><\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:700\">It\u2019s the beginning of a new month:<\/span><\/p><ul>\n<li><span style=\"font-weight:700\">Foreign reserves:<\/span><span> Expect the central bank to release February\u2019s foreign reserves <\/span><span style=\"font-weight:400;\">figures sometime this week. <\/span><\/li>\n<li><span style=\"font-weight:700\">Inflation:<\/span><span style=\"font-weight:400;\"> Inflation data for February will land at the end of this week.<\/span><\/li>\n<li><span style=\"font-weight:700\">Interest rates:<\/span><span> The Central Bank of Egypt will hold its second policy meeting of the year <\/span><span style=\"font-weight:400;\">at the end of the month on 30 March.<\/span><\/li>\n<\/ul><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:700\">The House is still out: <\/span><span style=\"\">T<\/span><span style=\"font-weight:400;\">he House of Representatives will reconvene on Sunday, 19 March. <\/span><\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:700\">Thanaweya Amma exam schedules are out: <\/span><span style=\"\">Thanaweya Amma exams are <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/www.facebook.com\/EgyptianCabinet\/posts\/pfbid0MomhExv4yWhogyCoY77i4QPaocEt1zS2uR4BR6pjLQZ8rw8mG5AcPjKXZNfCbv5Rl\" style=\"\">scheduled<\/a><\/span><span style=\"\"> <\/span><span style=\"font-weight:400;\">to take place between 12 June and 15 July. <\/span><\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;font-weight:700;\"><a href=\"https:\/\/enterprise.press\/am-edition\/#calendar\" style=\"\">Check out our full calendar on the web<\/a><\/span><span> for a comprehensive listing of upcoming news events, national holidays and news triggers.<\/span><\/p>\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/data\/\">data<\/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\/economy\/\">economy<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" 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        <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/ride-hailing\/\">ride-hailing<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/senate\/\">Senate<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/supply-chains\/\">supply chains<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/transport\/\">transport<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/uber\/\">Uber<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/what-were-tracking-today\/\">What We&#039;re Tracking Today<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                    <\/div>\n    <\/div>\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"582237 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=\"582237\">\r\n            \r\n            <div class=\"story__body\">\r\n\r\n                <a href=\"https:\/\/enterpriseam.com\/egypt\/2023\/03\/05\/582237\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-582237\" class=\"content-area-description single-story post-582237 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\/3\/Simply-Somabay-10-1600px.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 style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"http:\/\/www.somabay.com\" style=\"\">www.somabay.com<\/a><\/span><span>.<\/span><\/p>\n<\/div>\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"582238\" 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=\"582238\">\r\n            \r\n                <div class=\"issue-story-header text-center\">\r\n                    <div class=\"index-number\">2<\/div>\r\n\r\n                    <p class=\"f-graphik\">Economy<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2023\/03\/05\/el-sisi-announces-egp-150-bn-program-of-wage-hikes-pension-increases-amid-soaring-inflation\/\">\r\n                            El Sisi announces EGP 150 bn program of wage hikes, pension increases amid soaring inflation                        <\/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\/03\/05\/el-sisi-announces-egp-150-bn-program-of-wage-hikes-pension-increases-amid-soaring-inflation\/\" target=\"_blank\">\n                    Open in new tab                    <!-- <img decoding=\"async\" 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href=\"https:\/\/enterpriseam.com\/egypt\/2023\/03\/05\/el-sisi-announces-egp-150-bn-program-of-wage-hikes-pension-increases-amid-soaring-inflation\/\">\r\n                    <div class=\"photo photo--above\">\r\n                        <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2023\/3\/1600.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"582239\" data-permalink=\"https:\/\/enterpriseam.com\/egypt\/2023\/03\/05\/el-sisi-announces-egp-150-bn-program-of-wage-hikes-pension-increases-amid-soaring-inflation\/1600-jpg-2\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2023\/3\/1600.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"1600.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2023\/3\/1600.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2023\/3\/1600.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-582238\" class=\"content-area-description single-story post-582238 post type-post status-publish format-standard has-post-thumbnail hentry category-economy tag-enterpriseam tag-income-tax tag-inflation tag-labor tag-social-welfare tag-takaful-and-karama tag-tax wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<figure class=\"wp-block-audio mb-0\"><audio controls preload=\"metadata\" src=\"https:\/\/s3.us-east-1.amazonaws.com\/ent.news\/audio\/2023\/4\/.51ad98de-4938-43fe-927f-c4ebb94817a0.mp3\"><\/audio><\/figure>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><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:400;\"><\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:400;\"><\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:700\">A new program of p<\/span><span style=\"font-weight:700\">ublic-sector<\/span><span style=\"font-weight:700\"> wage hikes, pension increases + tax breaks<\/span><span style=\"font-weight:700\"> <\/span><span style=\"font-weight:700\">as <\/span><span style=\"font-weight:700\">inflation toll mounts: <\/span><span>President Abdel Fattah El Sisi <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/www.facebook.com\/Egy.Pres.Spokesman\/posts\/pfbid02LkccakRP4FsJ5DhVCazWuNQ26T4fDsXoghv98G63i7mYKuY7UvNDrMEZQcLyVqJ2l\" style=\"\">announced<\/a><\/span><span> a new round of <\/span><span style=\"\">public-sector wage and pension hikes on Thursday designed to <\/span><span style=\"\">mitigate the impact of soaring inflation on the public (<\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/www.youtube.com\/watch?v=8SVZvv_AYE8\" style=\"\">watch, runtime: 3:03<\/a><\/span><span style=\"\">). The measures include wage increases and a higher minimum wage for civil servants, higher pension payouts for state employees, and a higher income tax exemption threshold.<\/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\">#1- Wage hikes:<\/span><span style=\"\"> From 1 April, all <\/span><span style=\"\">civil servants and workers at state-owned enterprises<\/span><span style=\"\"> will <\/span><span style=\"\">receive a minimum EGP 1k increase to their monthly salaries, and the <\/span><span>monthly minimum wage <\/span><span style=\"\">will rise by at least 17% to EGP 3.5k<\/span><span style=\"font-weight:400;\">. The minimum wage for employees with advanced qualifications will rise further: people with Master\u2019s degrees will get at least EGP 6k per month and PhD holders will receive at least EGP 7k.<\/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- This is the<\/span><span style=\"font-weight:700\"> third minimum wage hike this fiscal year:<\/span><span style=\"font-weight:700\"> <\/span><span style=\"\">The government has <\/span><span>now increased the public-sector minimum wage by almost 50% <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/enterprise.press\/stories\/2022\/10\/27\/govt-announces-raft-of-measures-to-help-with-cost-of-living-post-economic-conference-85245\/\" style=\"\">since July<\/a><\/span><span> before which <\/span><span>it was set at <\/span><span>EGP 2.4k per month<\/span><span>. A <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/enterprise.press\/stories\/2022\/10\/27\/govt-announces-raft-of-measures-to-help-with-cost-of-living-post-economic-conference-85245\/\" style=\"\">second adjustment<\/a><\/span><span style=\"font-weight:400;\"> was made in October raising it to EGP 3k.<\/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\">Will the private sector move in tandem? <\/span><span style=\"\">The National Council for Wages will start looking into <\/span><span>setting a new minimum wage for private-sector workers and discussing the issue with businesses after the public-sector wage changes are signed into law, council member Magdy El Badawy told Al Hayah Al Youm (<\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/www.youtube.com\/watch?v=K5cW_d41dl4\" style=\"\">watch, runtime: 14:15<\/a><\/span><span>). The council <\/span><span style=\"\">raised the <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/enterprise.press\/stories\/2023\/01\/02\/private-sector-minimum-wage-rises-12-5-92525\/\" style=\"\">minimum wage for private-sector workers<\/a><\/span><span style=\"\"> to EGP 2.7k from EGP 2.4k <\/span><span>at the start of the <\/span><span style=\"\">yea<\/span><span style=\"\">r<\/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\">Expect pushback:<\/span><span style=\"font-weight:400;\"> Efforts to raise private-sector wages have received pushback from some&nbsp;<\/span><span style=\"background-color: transparent;\">firms, who have complained that they can\u2019t afford the higher wage bill. <\/span><span style=\"background-color: transparent;\">(We don\u2019t think businesses should get exemptions: If you can\u2019t afford to pay a liveable minimum wage, then your business probably doesn\u2019t deserve to exist.)<\/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\">#2- Pension increases:<\/span><span style=\"\"> State pension payouts will rise 15% from 1 April.<\/span><span style=\"\"> The measure will <\/span><span>impact around 11 mn pensioners, according to National Organization For Social Ins. (NOSI) head Gamal Awad.<\/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\">#3- An income tax break: <\/span><span style=\"\">The government will raise the personal income tax exemption threshold <\/span><span style=\"\">to EGP <\/span><span style=\"\">30k from EGP 24k<\/span><span style=\"\"> currently. <\/span><span style=\"\">(<\/span><span style=\"font-weight:700\">Remember:<\/span><span style=\"\"> There are also plans \u2014 as yet still on the drawing board \u2014 to <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/enterprise.press\/stories\/2022\/12\/15\/finmin-mulls-wage-tax-hike-91316\/\" style=\"\">raise the maximum tax rate to 27.5%<\/a><\/span><span style=\"font-weight:400;\"> on high income earners, and we understand the taxman has no plan to back down on that front. Cabinet does not presently intend to raise corporate income tax to that level.)<\/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\">#4- Higher b<\/span><span style=\"font-weight:700\">onuses for teachers, professors, and doctors:<\/span><span style=\"\"> Public sector employees, public <\/span><span>school teachers and university faculty members, and doctors will see hikes of EGP 300-500 to their bonuses, while doctors working night shifts and those in ER departments will see their incentives double. <\/span><span style=\"\">The Washington Post reported <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/enterprise.press\/stories\/2023\/02\/27\/inflation-is-topic-du-jour-in-the-foreign-press-98037\/\" style=\"\">last month<\/a><\/span><span style=\"font-weight:400;\"> that more than 11.5k doctors left Egypt\u2019s public healthcare system between 2019 and 2022 amid low wages and high inflation. <\/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\">#5 More money for Takaful and Karama: <\/span><span style=\"\">Beneficiaries of the Takaful and Karama social <\/span><span style=\"font-weight:400;\">support program will see a 25% rise in cash transfers.<\/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- The government <\/span><span style=\"-webkit-text-decoration-skip:none;font-weight:700;text-decoration-skip-ink:none\"><a href=\"https:\/\/enterprise.press\/stories\/2022\/07\/27\/1-mn-more-families-to-receive-public-support-amid-economic-crisis-76644\/\" style=\"\">added 1 mn families to the program<\/a><\/span><span style=\"font-weight:700\"> <\/span><span style=\"\">under two rounds of <\/span><span>extra support last year, bringing the total number of beneficiaries to 20 mn.<\/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 knew more money was coming for social support: <\/span><span style=\"\">The World Bank agreed in <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/enterprise.press\/stories\/2022\/12\/26\/egypt-secures-usd-500-mn-from-the-world-bank-to-support-takaful-and-karama-92147\/\" style=\"\">December<\/a><\/span><span style=\"\"> <\/span><span>to extend a USD 500 mn loan to expand the Takaful and Karama program amid soaring food and energy <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/enterprise.press\/stories\/2022\/12\/11\/inflation-accelerates-to-five-year-high-in-november-90750\/\" style=\"\">inflation<\/a><\/span><span>. The IMF\u2019s USD 3 bn bailout package for Egypt also aims to expand the cash transfer program by an additional <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/enterprise.press\/stories\/2022\/12\/18\/we-got-the-imf-package-now-heres-what-we-need-to-do-91483-5\/\" style=\"\">5 mn families<\/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 COST-<\/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 full support package will cost some EGP 150 <\/span><span style=\"font-weight:700\">bn<\/span><span style=\"\">, the Finance Ministry <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/bit.ly\/3YAUIfT\" style=\"\">said<\/a><\/span><span style=\"font-weight:400;\"> yesterday. The statement broke down the cost of some of the individual measures: <\/span><\/p>\n<ul>\n<li><span style=\"font-weight:700\">Pensions:<\/span><span style=\"\"> Higher pensions will cost the state <\/span><span style=\"font-weight:700\">EGP 55 bn<\/span><span style=\"\"> a year. According to National <\/span><span>Organization For Social Ins. (NOSI) head Gamal Awad, the government will spend <\/span><span style=\"\">EGP 14 b<\/span><span>n<\/span><span> on pensions during the final quarter of FY 2022-2023 <\/span><span> (<\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/www.youtube.com\/watch?v=H6ULOXRPdaM\" style=\"\">watch, runtime<\/a><\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/www.youtube.com\/watch?v=H6ULOXRPdaM\" style=\"\">: 4:26<\/a><\/span><span>); <\/span><\/li>\n<li><span style=\"font-weight:700\">Wages:<\/span><span style=\"\"> Public sector wage increases will add another <\/span><span style=\"font-weight:700\">EGP 14 bn<\/span><span style=\"\"> to the government\u2019s <\/span><span style=\"font-weight:400;\">wage bill;<\/span><\/li>\n<li><span style=\"font-weight:700\">Takaful and Karama:<\/span><span style=\"\"> <\/span><span style=\"font-weight:700\">EGP 6.5 bn<\/span><span style=\"\"> will be spent to up Takaful and Karama cash <\/span><span style=\"\">transfer<\/span><span style=\"font-weight:400;\">s;<\/span><\/li>\n<li><span style=\"font-weight:700\">Tax:<\/span><span style=\"\"> The higher tax exemption threshold will cost the government around <\/span><span style=\"font-weight:700\">EGP 8 bn<\/span><span style=\"\">, <\/span><span style=\"\">though accord<\/span><span style=\"\">ing to Mostafa Salem<\/span><span style=\"\">, deputy chairman of the House Budget Committee, this is not included in the EGP 150 bn figure.<\/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\">Expect costing to change when the dust settles:<\/span><span style=\"\"> \"The EGP 150 bn is just an initial figure,\u201d <\/span><span style=\"font-weight:400;\">Salem said. He added that the total figure covers the estimated cost of the measures in both the last quarter of the current fiscal year and FY 2023-2024.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:700\">It\u2019s all about inflation:<\/span><span style=\"\"> I<\/span><span style=\"\">nflation<\/span><span style=\"\"> hit a fresh five-year high of <\/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\/2023\/02\/12\/food-prices-hit-record-high-on-january-devaluation-96498\/&amp;sa=D&amp;source=editors&amp;ust=1678023780618995&amp;usg=AOvVaw0TsclqVGzO0ox0xQ6EYJeO\" style=\"\">25.8%<\/a><\/span><span style=\"\"> in January as the impact of <\/span><span style=\"\">the ongoing depreciation of the EGP causes the cost of living to soar. El Sisi\u2019s address came a few hours after the Oil Ministry announced an immediate <\/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\/2023\/03\/02\/fuel-prices-are-rising-7-11-today-98365\/&amp;sa=D&amp;source=editors&amp;ust=1678023780619318&amp;usg=AOvVaw29Pm_rw3A0f80jxtofX5BU\" style=\"\">increase in fuel prices<\/a><\/span><span style=\"\">, which together with the currency volatility and <\/span><span style=\"font-weight:400;\">higher demand ahead of Ramadan will likely contribute to further inflation in the coming months. Inflation figures for February will be out later this week. <\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:700\">What\u2019s next?<\/span><span style=\"font-weight:700\"> <\/span><span style=\"\">The government will send the new social protecti<\/span><span style=\"\">on package to the House for <\/span><span style=\"font-weight:400;\">approval before it can go into effect. <\/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 news got international attention:<\/span><span style=\"\"> <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/www.google.com\/url?q=https:\/\/www.reuters.com\/world\/middle-east\/egypts-sisi-announces-state-pay-pension-rises-after-petrol-price-hike-2023-03-02\/&amp;sa=D&amp;source=editors&amp;ust=1678023780620086&amp;usg=AOvVaw2dKOfKHjSCMNy8tIT7syH2\" style=\"\">Reuters<\/a><\/span><span style=\"\"> | <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/www.google.com\/url?q=https:\/\/www.bloomberg.com\/news\/articles\/2023-03-02\/egypt-to-pay-state-workers-more-as-fuel-hike-piles-on-costs?leadSource=uverify%20wall&amp;sa=D&amp;source=editors&amp;ust=1678023780620320&amp;usg=AOvVaw3aQ2E6vBDlgURF50r7y29W\" style=\"\">Bloomberg<\/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\/income-tax\/\">income tax<\/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\/labor\/\">labor<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/social-welfare\/\">social welfare<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/takaful-and-karama\/\">Takaful and Karama<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/tax\/\">tax<\/a>\n    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data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2021\/3\/Egytrans-1600-px-2.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"Egytrans-1600-px-2.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2021\/3\/Egytrans-1600-px-2.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2021\/3\/Egytrans-1600-px-2.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-582240\" class=\"content-area-description single-story post-582240 post type-post status-publish format-standard has-post-thumbnail hentry category-ma-watch tag-egytrans tag-enterpriseam tag-logistics 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\/4\/.15018ec2-2a72-4435-88bb-384906df811a.mp3\"><\/audio><\/figure>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:400;\"><\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:400;\"><\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"\"> <\/span><span style=\"font-weight:700\">Egytrans wants NOSCO:<\/span><span style=\"\"> Transport player <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/www.egytrans.com\/home\" style=\"\">Egytrans<\/a><\/span><span style=\"\"> expects to wrap a majority <\/span><span style=\"\">acquisition of<\/span><span style=\"font-weight:700\"> <\/span><span>trucking firm <\/span><span>National Company for Transportation and Overseas Ser<\/span><span>vices<\/span><span> (<\/span><span>NOSCO<\/span><span>) <\/span><span>before the end of 1H 2023, Egytrans CEO Abir Leheta said during a press conference on Thursday, according to <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/bit.ly\/3SS58Xe\" style=\"\">Al Mal<\/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\">We don\u2019t have the details yet: <\/span><span style=\"font-weight:400;\">Leheta didn\u2019t disclose how much of NOSCO Egytrans is eyeing. Due diligence is still underway to determine the transaction\u2019s value, which will be announced upon its completion, she 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\">They could go the share swap route:<\/span><span> Egytrans in October <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/ir.egytrans.com\/User\/assets\/img\/Media\/Egytrand%20board%20studies%20acquisition%20deal%20with%20Nosco%20Oct5%20PRL%20_EN_WI%20(002).pdf\" style=\"\">said (pdf)<\/a><\/span><span> i<\/span><span style=\"font-weight:400;\">ts board had agreed to pursue the NOSCO acquisition and that the two firms were considering executing the transaction through a share swap. Under the arrangement, NOSCO shareholders would receive new shares in Egytrans via a capital increase. The final method of the transaction will depend on the results of an independent fair value study. <\/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 two firms: <\/span><span>EGX-listed Egytrans offers air, sea, and land transport services as well as customs clearance and storage. The company\u2019s <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/enterprise.press\/stories\/2023\/02\/28\/what-the-markets-are-doing-on-28-february-2023-98231\/\" style=\"\">net income<\/a><\/span><span> jumped more than 150% y-o-y to EGP 46 mn in 2022, on revenues of EGP 400 mn. <\/span><span>NOSCO is a private trucking firm<\/span><span style=\"font-weight:400;\"> with more than 130 trucks as well as a specialized fleet for heavy and oversized cargo. It has worked on major national projects including power stations and refineries, the Zohr natural gas field, the Cairo monorail, and the transport of the Ramses II statue to its current location at the Grand Egyptian Museum (GEM). <\/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\u2019s next: <\/span><span style=\"font-weight:400;\">Once due diligence and valuations wrap, the transaction will still need the greenlight from regulators and shareholders of both firms. <\/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:<\/span><span style=\"font-weight:400;\"> Egytrans hired Zaki Hashem &amp; Partners as its counsel for the transaction, while NOSCO appointed Catalyst Partners as its financial advisor and transaction manager.<\/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\/egytrans\/\">EgyTrans<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/logistics\/\">logistics<\/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=\"582244 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=\"582244\">\r\n            \r\n            <div class=\"story__body\">\r\n\r\n                <a href=\"https:\/\/enterpriseam.com\/egypt\/2023\/03\/05\/582244\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-582244\" class=\"content-area-description single-story post-582244 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.grantthornton.global\/en\/locations\/Egypt\/\" target=\"_blank\" rel=\"noopener\"><img data-recalc-dims=\"1\" decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2023\/3\/1600-x-768.png?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=\"582245\" 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=\"582245\">\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\">Startup watch<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2023\/03\/05\/crypto-platform-rain-throws-in-with-moneyhash-on-payments-plus-stv-is-fundraising-and-rayas-accelerator-inks-pact-with-giz\/\">\r\n                            Crypto platform Rain throws in with MoneyHash on payments. Plus: STV is fundraising and Raya\u2019s accelerator inks pact with GIZ                        <\/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\/03\/05\/crypto-platform-rain-throws-in-with-moneyhash-on-payments-plus-stv-is-fundraising-and-rayas-accelerator-inks-pact-with-giz\/\" 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\/03\/05\/crypto-platform-rain-throws-in-with-moneyhash-on-payments-plus-stv-is-fundraising-and-rayas-accelerator-inks-pact-with-giz\/')\">\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\/03\/05\/crypto-platform-rain-throws-in-with-moneyhash-on-payments-plus-stv-is-fundraising-and-rayas-accelerator-inks-pact-with-giz\/\">\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=Crypto platform Rain throws in with MoneyHash on payments. Plus: STV is fundraising and Raya\u2019s accelerator inks pact with GIZ&url=https:\/\/enterpriseam.com\/egypt\/2023\/03\/05\/crypto-platform-rain-throws-in-with-moneyhash-on-payments-plus-stv-is-fundraising-and-rayas-accelerator-inks-pact-with-giz\/\">\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\/03\/05\/crypto-platform-rain-throws-in-with-moneyhash-on-payments-plus-stv-is-fundraising-and-rayas-accelerator-inks-pact-with-giz\/&title=Crypto platform Rain throws in with MoneyHash on payments. Plus: STV is fundraising and Raya\u2019s accelerator inks pact with GIZ\">\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=Crypto+platform+Rain+throws+in+with+MoneyHash+on+payments.+Plus%3A+STV+is+fundraising+and+Raya%E2%80%99s+accelerator+inks+pact+with+GIZ+https%3A%2F%2Fenterpriseam.com%2Fegypt%2F2023%2F03%2F05%2Fcrypto-platform-rain-throws-in-with-moneyhash-on-payments-plus-stv-is-fundraising-and-rayas-accelerator-inks-pact-with-giz%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\/03\/05\/crypto-platform-rain-throws-in-with-moneyhash-on-payments-plus-stv-is-fundraising-and-rayas-accelerator-inks-pact-with-giz\/\">\r\n                    <div class=\"photo photo--above\">\r\n                        <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2023\/3\/bitcoin-1600px.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"582246\" data-permalink=\"https:\/\/enterpriseam.com\/egypt\/2023\/03\/05\/crypto-platform-rain-throws-in-with-moneyhash-on-payments-plus-stv-is-fundraising-and-rayas-accelerator-inks-pact-with-giz\/bitcoin-1600px-jpg-2\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2023\/3\/bitcoin-1600px.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"bitcoin-1600px.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2023\/3\/bitcoin-1600px.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2023\/3\/bitcoin-1600px.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-582245\" class=\"content-area-description single-story post-582245 post type-post status-publish format-standard has-post-thumbnail hentry category-startup-watch tag-cryptocurrency tag-enterpriseam tag-giz tag-raya-holding tag-startup-watch tag-venture-capital wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:400;\"><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"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\">The latest from Planet Finance in our corner of the world <\/span><span style=\"font-weight:400;\">shows that crypto is still alive, that Saudi\u2019s VC ambitions haven\u2019t flagged \u2014 and that Raya Holding is pushing deeper into the accelerator space.<\/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;\">RAIN + MONEYHASH<\/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\">Bahrain-based crypto platform <\/span><span style=\"-webkit-text-decoration-skip:none;font-weight:700;text-decoration-skip-ink:none\"><a href=\"https:\/\/www.rain.com\/en-bh\" style=\"\">Rain<\/a><\/span><span style=\"font-weight:700\"> is partnering with fintech startup <\/span><span style=\"-webkit-text-decoration-skip:none;font-weight:700;text-decoration-skip-ink:none\"><a href=\"https:\/\/moneyhash.io\/\" style=\"\">MoneyHash<\/a><\/span><span style=\"font-weight:700\"> <\/span><span style=\"font-weight:700\">to offer its customers more payment methods<\/span><span style=\"\">, according to a <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/ent.news\/2023\/3\/Rain-x-Money-Hash-PR.pdf\" style=\"\">company statement (pdf)<\/a><\/span><span style=\"font-weight:400;\">. MoneyHash\u2019s API will allow Rain to add payment service providers and payment methods across the Middle East and Africa, the statement reads. The partnership will also help Rain improve its transaction success rate, reduce fraud, lower processing fees, and streamline its operations.<\/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 Rain:<\/span><span style=\"\"> Rain became the first fully licensed digital currency exchange in the region in <\/span><span style=\"\">2019 <\/span><span style=\"\">when <\/span><span style=\"\">it obtained its license from the Central Bank of Bahrain. The company, which counts Egyptian Yehia Badawy among its four co-founders, <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/enterprise.press\/stories\/2022\/01\/19\/bahrain-based-crypto-exchange-rain-raises-usd-110-mn-series-b-63152\/\" style=\"\">raised USD 110 mn<\/a><\/span><span style=\"font-weight:400;\"> in series B finance in 2022, which it said it would use to expand overseas.<\/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 MoneyHash: <\/span><span style=\"\">Founded by Egyptians Nader Abdelrazik and Mustafa Eid and American <\/span><span style=\"\">Anisha Sekar in 2020, MoneyHash\u2019s payment aggregator platform allows companies to offer payment and fintech services at checkout as well as collect data and track analytics through a single dashboard. The company <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/enterprise.press\/stories\/2022\/02\/16\/wasla-super-app-lands-usd-9-mn-from-contact-moneyhash-bags-usd-3-mn-pre-seed-65113\/\" style=\"\">closed a USD 3 mn pre-seed round<\/a><\/span><span style=\"font-weight:400;\"> last year. <\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:700;\">SAUDI\u2019S STV IS FUNDRAISING-<\/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\">STV is raising for its second fund: <\/span><span style=\"\">Saudi venture capital firm <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/stv.vc\/\" style=\"\">STV<\/a><\/span><span style=\"\"> is raising for its <\/span><span style=\"\">second Middle East-based tech fund, COO Luca Barbie said in an interview with <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/www.asharqbusiness.com\/article\/47740\/stv-%D8%A7%D9%84%D8%AA%D8%A7%D8%A8%D8%B9%D8%A9-%D9%84%D9%80%D8%A7%D9%84%D8%A7%D8%AA%D8%B5%D8%A7%D9%84%D8%A7%D8%AA-%D8%A7%D9%84%D8%B3%D8%B9%D9%88%D8%AF%D9%8A%D8%A9-%D8%AA%D8%AD%D8%B4%D8%AF-%D8%A7%D9%84%D8%A3%D9%85%D9%88%D8%A7%D9%84-%D9%84%D8%AB%D8%A7%D9%86%D9%8A-%D8%B5%D9%86%D8%A7%D8%AF%D9%8A%D9%82%D9%87%D8%A7-%D8%A7%D9%84%D8%A7%D8%B3%D8%AA%D8%AB%D9%85%D8%A7%D8%B1%D9%8A%D8%A9\/\" style=\"\">Asharq Business<\/a><\/span><span style=\"\">. <\/span><span style=\"\">Barbie did not disclose the size of the second fund o<\/span><span style=\"font-weight:400;\">r say when it expects to reach first 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:700\">STV\u2019s<\/span><span style=\"font-weight:700\"> first fund will deploy USD 300 mn in existing portfolio firms:<\/span><span style=\"\"> The VC\u2019s first fund plans during the next year to m<\/span><span style=\"\">ake follow-on investments<\/span><span style=\"\"> in five or six of the most promising 28 companies in its existing portfolio \u201cto cover the last mile before [we] exit,\u201d Barbie said. The investments will come <\/span><span style=\"\">from the additional USD 300 mn STV injected into its first fund last October,<\/span><span style=\"font-weight:400;\"> bringing the fund\u2019s total assets to USD 800 mn. <\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:700\">That could mean more money for local firms:<\/span><span style=\"\"> Egyptian companies in STV\u2019s portfolio include healthcare and pharma <\/span><span style=\"\">firm <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/enterprise.press\/stories\/2020\/02\/12\/vezeeta-raises-usd-40-mn-in-series-d-funding-11783\/\" style=\"\">Vezeeta<\/a><\/span><span style=\"\"> and <\/span><span style=\"\">furniture marketplace <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/enterprise.press\/stories\/2022\/08\/02\/homzmart-closes-usd-23-mn-pre-series-b-round-76952\/\" style=\"\">Homzmar<\/a><\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/enterprise.press\/stories\/2022\/08\/02\/homzmart-closes-usd-23-mn-pre-series-b-round-76952\/\" style=\"\">t<\/a><\/span><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\">A second fund has been in the works since 2021:<\/span><span style=\"\"> STV was in talks with<\/span><span> potential investors \u2014 including regional sovereign funds and international pension funds and endowments \u2014 t<\/span><span style=\"\">o raise USD 1 bn for a second fund <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/enterprise.press\/stories\/2021\/10\/25\/from-fertiglobe-to-yet-another-regional-vc-fund-its-a-relatively-quiet-start-to-the-week-for-global-markets-56380\/\" style=\"\">back in October 2021<\/a><\/span><span style=\"\">, Bloomberg reported at the time, ci<\/span><span style=\"font-weight:400;\">ting anonymous sources close to the company. <\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:700;\">RAYA ACCELERATOR INKS GERMAN PARTNERSHIP<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:700\">Raya Holding\u2019s accelerator, <\/span><span style=\"-webkit-text-decoration-skip:none;font-weight:700;text-decoration-skip-ink:none\"><a href=\"https:\/\/www.rayafuturetech.com\/\" style=\"\">FutureTECH<\/a><\/span><span style=\"font-weight:700\">, inked an agreement with German development agency GIZ that will see them launch \u201cnew acceleration cycles<\/span><span style=\"\">, hackathons, startup bridges, and other ecosystem-building programs\u201d through the GIZ <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/www.developpp.de\/en\" style=\"\">develoPPP program<\/a><\/span><span style=\"\">, according to <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/ent.news\/2023\/3\/GIZ-Raya-holding-ENGLISH.pdf\" style=\"\">a statement (pdf)<\/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 they said: <\/span><span style=\"font-weight:400;\">\u201cThe partnership with GIZ manifests a significant expansion for Raya<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"\">FutureTECH that was previously only focused on start-ups providing advanced solutions that improve customer experience,\u201d Raya Holding CEO Ahmed Khalil said in the statement. \u201cToday, Raya FutureTECH is expanding to support start-ups operating in more industries,\u201d he said, without providing further details.<\/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\/cryptocurrency\/\">cryptocurrency<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/giz\/\">GiZ<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/raya-holding\/\">Raya Holding<\/a>\n                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class=\"index-number\">5<\/div>\r\n\r\n                    <p class=\"f-graphik\">EARNINGS WATCH<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2023\/03\/05\/phd-macro-group-report-strong-2022-results\/\">\r\n                            PHD, Macro Group report strong 2022 results                        <\/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\/03\/05\/phd-macro-group-report-strong-2022-results\/\" target=\"_blank\">\n                    Open in new tab                  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href=\"https:\/\/api.whatsapp.com\/send?text=PHD%2C+Macro+Group+report+strong+2022+results+https%3A%2F%2Fenterpriseam.com%2Fegypt%2F2023%2F03%2F05%2Fphd-macro-group-report-strong-2022-results%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\/03\/05\/phd-macro-group-report-strong-2022-results\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-582247\" class=\"content-area-description single-story post-582247 post type-post status-publish format-standard hentry category-earnings-watch tag-earnings-watch tag-enterpriseam tag-healthcare tag-macro-group tag-palm-hills-developments tag-real-estate 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\/3\/.2dadbf63-382d-4d9e-9b7e-7ccc3ff8b3e8.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=\"\"> We\u2019re pushing deeper into 2022 earnings season this morning, with <\/span><span>Palm Hills Developments reporting record high net income, revenues, sales in 2022 and Macro turning in double-digit top- and bottom-line growth despite the challenges of the past 12 months. <\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:700;\">PALM HILLS-<\/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\">Palm Hills Developments booked record-high net income after tax and min<\/span><span style=\"font-weight:700\">ority <\/span><span style=\"font-weight:700\">interest of EGP 1.<\/span><span style=\"font-weight:700\">2<\/span><span style=\"font-weight:700\">6 bn in 2022<\/span><span style=\"\">,<\/span><span style=\"font-weight:700\"> <\/span><span style=\"\">up by 52% y-o-y, the developer said in its <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/ent.news\/2023\/3\/PHD-02-03-2023.pdf\" style=\"\">earnings release (<\/a><\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/ent.news\/2023\/3\/PHD-02-03-2023.pdf\" style=\"\">pdf<\/a><\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/ent.news\/2023\/3\/PHD-02-03-2023.pdf\" style=\"\">)<\/a><\/span><span style=\"\">.<\/span><span style=\"font-weight:400;\"> Revenues climbed 76% y-o-y to more than EGP 13.6 bn, another all-time high. New sales were up by half to a record EGP 26.0 bn.<\/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\">Selling more units at higher prices:<\/span><span style=\"font-weight:400;\"> The EGX-listed company sold 20% more units in 2022 than the year before, with all projects seeing a rise in average sale prices. Almost 90% of new sales were accounted for by residential properties, which were up 51% y-o-y, while commercial sales rose 44%. <\/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 focus remains on Badya and Palm Hills New Cairo: <\/span><span style=\"font-weight:400;\">The company is continuing to focus on growing its two largest residential compounds, according to the release. It surpassed its overall construction spend target for the year by EGP 300 mn to hit EGP 3.7 bn, up 47% y-o-y. <\/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 they said: <\/span><span style=\"font-weight:400;\">\u201cWe have delivered record set of results, exceeding pre-COVID 19 performance levels and beating our targets and guidance for 2022 on almost all fronts,\u201d said executive chairman Yasseen Mansour, adding that strong construction spending in 2022 and EGP 3.9 bn worth of ready-to-move inventory on the books as of year-end \u201cwill continue to boost our financial position in future periods.\u201d The company is also focused on building out its portfolio of commercial developments at Palmet, Badya and Palm Hills, 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;\">MACRO GROUP-<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:700\">Pharma and cosmeceuticals firm Macro Group saw its net income rise 18% y-o<\/span><span style=\"font-weight:700\">-y <\/span><span style=\"font-weight:700\">to EGP 173.9 mn in 2022<\/span><span style=\"\">, according to the company\u2019s <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/ent.news\/2023\/3\/MACRO-FY22-Earnings-Release.pdf\" style=\"\">earnings release (pdf)<\/a><\/span><span style=\"font-weight:400;\">. Revenues grew 23% y-o-y to record EGP 729.6 mn. <\/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 breakdown:<\/span><span style=\"\"> The company attributed the rise in revenues to a 26% y-o-y uptick in average pricing. Total sales volumes fell 3% y-o-y to 18 mn units, as market headwinds and inflationary pressures limited consumers\u2019 purchasing power. The company introduced 30 new products last year \u2013 a third of them in 4Q alone \u2014 and plans to introduce another 35 new products in the near to medium term, it said. <\/span><span style=\"\">Macro made its debut on the EGX in the <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/enterprise.press\/stories\/2022\/02\/08\/tonight-macros-egx-debut-confirmed-for-this-thursday-world-bank-is-releasing-its-egypt-outlook-its-a-busy-day-at-the-house-64495\/\" style=\"\">first quarter<\/a><\/span><span style=\"\"> of last year.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:700\">Macro turned to exports to hedge against headwinds<\/span><span style=\"font-weight:700\">:<\/span><span style=\"font-weight:700\"> <\/span><span style=\"\">Export sales more than quadrupled to hit EGP 30.5 mn in 2022 after Macro hired an export manager to increase its footprint across the Middle East and Africa. The move \u201cincreased [Macro Group\u2019s] access to hard currency, cushioning foreign exchange fluctuations and making it easier in acquiring the necessary imported raw materials for premium products,\u201d company chair Ahmed Elnayeb said in the release.<\/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\/earnings-watch\/\">earnings watch<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/healthcare\/\">healthcare<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/macro-group\/\">Macro Group<\/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                    <\/div>\n    <\/div>\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"582248 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=\"582248\">\r\n            \r\n            <div class=\"story__body\">\r\n\r\n                <a 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data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2023\/3\/Masaa-DMC-5-3-23-1600.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2023\/3\/Masaa-DMC-5-3-23-1600.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-582249\" class=\"content-area-description single-story post-582249 post type-post status-publish format-standard has-post-thumbnail hentry category-last-nights-talk-shows tag-economy tag-enterpriseam tag-fuel-prices tag-hoggpool tag-labor tag-last-nights-talk-shows tag-new-administrative-capital 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\/3\/.2dadbf63-382d-4d9e-9b7e-7ccc3ff8b3e8.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: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\">The one theme during last night\u2019s talk shows: money<\/span><span style=\"\">, be it the government <\/span><span>raising wages, a bn-E<\/span><span>GP<\/span><span style=\"font-weight:400;\"> investment scam, or last week\u2019s fuel price hike.   <\/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\">Talk of wages was everywhere last night<\/span><span style=\"\"> after President Abdel Fattah El Sisi unveiled a new <\/span><span>round of social protection measures designed to aid the public amid soaring living costs. Kelma Akhira (<\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/www.youtube.com\/watch?v=XcLfhIT19ZI\" style=\"\">watch, runtime: 17:26<\/a><\/span><span>), El Hekaya (<\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/www.youtube.com\/watch?v=qfQwm4fk_D8\" style=\"\">watch, runtime: 10:30<\/a><\/span><span>), Al Hayah Al Youm (<\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/www.youtube.com\/watch?v=K5cW_d41dl4\" style=\"\">watch, runtime: 14:15<\/a><\/span><span>) and Masaa DMC (<\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/www.youtube.com\/watch?v=54-5fDAL8NI\" style=\"\">watch, runtime: 1:29<\/a><\/span><span style=\"font-weight:400;\">) all had 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;\">^^ We dive into the details in this morning\u2019s news well, above.<\/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\">One of Egypt\u2019s biggest internet scams busted: <\/span><span style=\"\">Authorities <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/www.facebook.com\/MoiEgy\/posts\/pfbid0ynn7pSxTX2xyfmQHH385QpJpe5Gz7deeB36F3EJyT9zjiQyc4dwHfyF218oYhxHJl\" style=\"\">have arrested<\/a><\/span><span style=\"\"> people believed to <\/span><span>be behind the fraudulent \u201cinvestment\u201d application Hoggpool, which stole a combined <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/www.almasryalyoum.com\/news\/details\/2832897\" style=\"\">EGP 6 bn<\/a><\/span><span> f<\/span><span style=\"font-weight:400;\">rom thousands of Egyptians since its launch six months ago. The application advertised itself as an easy way to earn money through the mining of digital currency.<\/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\">Bad news for the victims: <\/span><span style=\"\">The stolen money has \u201cevaporated\u201d and it is unlikely that the victims <\/span><span>will get any of it back, information security expert Walid Abdel Maksoud told Al Hayah Al Youm (<\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/www.youtube.com\/watch?v=mdPmga4ksP4\" style=\"\">watch, runtime: 7:18<\/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\">If it sounds too good to be true, it probably is. <\/span><span style=\"\">The blame can be divided between naive <\/span><span>internet users who failed to do their research before \u201cinvesting\u201d and the relevant authorities, Kelma Akhira\u2019s Lamees El Hadidi said (<\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/www.youtube.com\/watch?v=4iMBNNwX1Yg\" style=\"\">watch, runtime: 3:27<\/a><\/span><span>). There is no such a thing as making over a 100% interest from an investment, she said, voicing her disbelief that over 600k people fell victim to the scam. Masaa DMC (<\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/www.youtube.com\/watch?v=dlzVvD42pbA\" style=\"\">watch: runtime: 10:09<\/a><\/span><span>) and Ala Mas\u2019ouleety also had coverage (<\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/www.youtube.com\/watch?v=eciEcVGW3Hk\" style=\"\">watch, runtime: 5:53<\/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\">Also on the airwaves last night:<\/span><\/p>\n<ul>\n<li><span style=\"font-weight:700\">Masaa DMC did its best to put a positive spin on last week\u2019s <\/span><span style=\"-webkit-text-decoration-skip:none;font-weight:700;text-decoration-skip-ink:none\"><a href=\"https:\/\/enterprise.press\/stories\/2023\/03\/02\/fuel-prices-are-rising-7-11-today-98365\/\" style=\"\">fuel price hikes<\/a><\/span><span style=\"\">, <\/span><span>inviting on Liquid Petroleum Gas Investors Association Chairperson Mohamed Saad Eldin who said that Egypt has the <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/www.globalpetrolprices.com\/gasoline_prices\/\" style=\"\">seventh-cheapest gasoline prices<\/a><\/span><span> in the world (Masaa DMC | <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/www.youtube.com\/watch?v=X8Ix-EBRIVA\" style=\"\">watch, runtime: 5:04<\/a><\/span><span>). <\/span><\/li>\n<li><span style=\"font-weight:700\">A historic discovery: <\/span><span style=\"\">Secretary-General of the <\/span><span>Supreme Council of Antiquities Mostafa Waziri joined Ala Mas\u2019ouleety\u2019s Ahmed Moussa <\/span><span>to discuss <\/span><span>the recently-uncovered hidden chamber inside the Great Pyramid of Giza. (Ala Mas\u2019ouleety | <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/www.youtube.com\/watch?v=J61E50pb9fI\" style=\"\">watch, runtime: 2:32<\/a><\/span><span> | <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/www.youtube.com\/watch?v=GFHZHqjseIk\" style=\"\">4:07<\/a><\/span><span style=\"font-weight:400;\">)<\/span><\/li>\n<li><span style=\"font-weight:700\">The great relocation:<\/span><span style=\"\"> Some 9k public sector employees have relocated to the new <\/span><span>capital, Khalid Abbas, head of the New Administrative Capital for Urban Development (ACUD), said. Abbas <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/enterprise.press\/stories\/2023\/01\/05\/talking-25-cds-92923\/\" style=\"\">said previously<\/a><\/span><span> that around <\/span><span>30k will be at <\/span><span>the new capital<\/span><span> by mid-March. <\/span><span>(Al Hayah Al Youm | <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/www.youtube.com\/watch?v=XCGtxCUu_wI\" style=\"\">watch, runtime: 7:06<\/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\/economy\/\">economy<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/fuel-prices\/\">Fuel prices<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/hoggpool\/\">Hoggpool<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/labor\/\">labor<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/last-nights-talk-shows\/\">LAST NIGHT\u2019S TALK SHOWS<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/new-administrative-capital\/\">new administrative capital<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                    <\/div>\n    <\/div>\n            <\/div>\r\n        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stk-block-column stk-column stk-block stk-uqjkq9h\" data-v=\"4\" data-block-id=\"uqjkq9h\"><div class=\"stk-column-wrapper stk-block-column__content stk-container stk-uqjkq9h-container stk--no-background stk--no-padding\"><div class=\"stk-block-content stk-inner-blocks stk-uqjkq9h-inner-blocks\">\r\n            <div class=\"issue-sponsor-slide\">\r\n                <img data-recalc-dims=\"1\" decoding=\"async\" draggable=\"false\" src=\"https:\/\/i0.wp.com\/ent.news\/internal\/240925.png?ssl=1\">\r\n                <div class=\"overlay\"><\/div>\r\n                <div class=\"content\">\r\n                    <a draggable=\"false\" href=\"https:\/\/weareinfinity.com\/\" target=\"_blank\" class=\"logo\" rel=\"noopener\">\r\n                        <img decoding=\"async\" draggable=\"false\" src=\"https:\/\/i0.wp.com\/ent.news\/internal\/27483.png?fit=300%2C300&#038;ssl=1\" alt=\"\">\r\n                    <\/a>\r\n                    <span>Powering with nature<\/span>\r\n               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alt=\"\">\r\n                    <\/a>\r\n                    <span>Driving growth<\/span>\r\n                <\/div>\r\n            <\/div>\r\n            <\/div><\/div><\/div>\r\n        <\/div><div class=\"stk-block-carousel__buttons\"><button class=\"stk-block-carousel__button stk-block-carousel__button__prev\" aria-label=\"Previous slide\"><svg aria-hidden=\"true\" focusable=\"false\" data-prefix=\"fas\" data-icon=\"chevron-left\" class=\"svg-inline--fa fa-chevron-left\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" viewBox=\"0 0 320 512\" width=\"32\" height=\"32\"><path d=\"M34.52 239.03L228.87 44.69c9.37-9.37 24.57-9.37 33.94 0l22.67 22.67c9.36 9.36 9.37 24.52.04 33.9L131.49 256l154.02 154.75c9.34 9.38 9.32 24.54-.04 33.9l-22.67 22.67c-9.37 9.37-24.57 9.37-33.94 0L34.52 272.97c-9.37-9.37-9.37-24.57 0-33.94z\"><\/path><\/svg><\/button><button class=\"stk-block-carousel__button stk-block-carousel__button__next\" aria-label=\"Next slide\"><svg aria-hidden=\"true\" focusable=\"false\" 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   \r\n                <div class=\"issue-story-header text-center\">\r\n                    <div class=\"index-number\">7<\/div>\r\n\r\n                    <p class=\"f-graphik\">EGYPT IN THE NEWS<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2023\/03\/05\/hidden-chamber-at-the-great-pyramid-uncovered-thanks-to-cosmic-ray-tech\/\">\r\n                            Hidden chamber at the Great Pyramid uncovered thanks to cosmic ray tech                        <\/a>\r\n                    <\/h3>\r\n\r\n                    \r\n\t\t\t\t\t\n<div class=\"cta\">\n    <div class=\"cta__btn share-dropdown-cta dropdown-toggle-btn\" style=\"position:relative\">\n        <img decoding=\"async\" src=\"https:\/\/ent.news\/internal\/408834.svg\" alt=\"\">\n        Share Story\n        <!-- Dropdown Menu -->\n        <ul class=\"share-menu\">\n            <li class=\"list-inline-item\">\n                <a 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href=\"https:\/\/enterpriseam.com\/egypt\/2023\/03\/05\/hidden-chamber-at-the-great-pyramid-uncovered-thanks-to-cosmic-ray-tech\/\">\r\n                    <div class=\"photo photo--above\">\r\n                        <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2023\/3\/Tourists-at-the-pyramids-1600.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"582253\" data-permalink=\"https:\/\/enterpriseam.com\/egypt\/2023\/03\/05\/hidden-chamber-at-the-great-pyramid-uncovered-thanks-to-cosmic-ray-tech\/tourists-at-the-pyramids-1600-jpg\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2023\/3\/Tourists-at-the-pyramids-1600.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"Tourists-at-the-pyramids-1600.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2023\/3\/Tourists-at-the-pyramids-1600.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2023\/3\/Tourists-at-the-pyramids-1600.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-582252\" class=\"content-area-description single-story post-582252 post type-post status-publish format-standard has-post-thumbnail hentry category-egypt-in-the-news tag-ancient-egypt tag-archaeology tag-economy tag-enterpriseam 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\/3\/.2dadbf63-382d-4d9e-9b7e-7ccc3ff8b3e8.mp3\"><\/audio><\/figure>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:400;\"><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"\"><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"\"> <\/span><span style=\"font-weight:700\">Dominating the conversation on Egypt this morning: Cosmic ray tech reveals <\/span><span style=\"font-weight:700\">hidden corridor inside Great Pyramid.<\/span><span> A nine-meter long, <\/span><span>two-meter wide hidden corridor has been discovered near the main entrance to the Pyramid of Khufu in Giza, the Tourism Ministry <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/www.facebook.com\/tourismandantiq\/posts\/pfbid0n6UVDgJFQu6qevoBEK8puVhaqQWuKWNYMWDf5NLPeCwKvPTUXyePnyfiFdh21W7Yl?locale=ar_AR\" style=\"\">announced at a press conference<\/a><\/span><span> on Thursday. Scientists made the discovery as part of the Scan Pyramids project using a technology called muon radiography, which uses cosmic ray particles to generate 3D models of structures\u2019 insides, according to a study published in the journal <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/www.nature.com\/articles\/s41467-023-36351-0\" style=\"\">Nature<\/a><\/span><span>. (<\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/www.france24.com\/en\/middle-east\/20230303-scientists-discover-hidden-corridor-inside-egypt-s-great-pyramid\" style=\"\">AP<\/a><\/span><span> | <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/www.reuters.com\/world\/middle-east\/scientists-discover-corridor-great-pyramid-giza-2023-03-02\/\" style=\"\">Reuters<\/a><\/span><span> | <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/www.france24.com\/en\/live-news\/20230302-egypt-unveils-hidden-corridor-in-giza-pyramid\" style=\"\">AFP<\/a><\/span><span> |  <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/www.bbc.com\/news\/world-middle-east-64825526\" style=\"\">BBC<\/a><\/span><span> | <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/www.nationalgeographic.com\/science\/article\/giza-pyramid-void-muon-radiography-cosmic-rays\" style=\"\">National Geographic<\/a><\/span><span> | <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/news.sky.com\/story\/4-500-year-old-chamber-discovered-inside-great-pyramid-in-egypt-12824067\" style=\"\">Sky News<\/a><\/span><span> | <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/abcnews.go.com\/International\/egypt-unveils-hidden-tunnel-inside-great-pyramid\/story?id=97578249\" style=\"\">ABC News<\/a><\/span><span> | <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/www.cbsnews.com\/news\/great-pyramid-discovery-egypt-scanpyramids-khufu-cosmic-cosmic-ray-muon-radiography\/\" style=\"\">CBS News<\/a><\/span><span> | <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/www.voanews.com\/a\/new-chamber-discovered-in-a-great-pyramid-\/6988125.html\" style=\"\">Voice of America<\/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\">AND- King Tut tome: <\/span><span style=\"\">An excerpt of British historian Guy de la Bedoyere\u2019s new book <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/www.goodreads.com\/en\/book\/show\/60567289\" style=\"\">Pharaohs of the Sun: The Rise and Fall of Tutankhamun\u2019s Dynasty<\/a><\/span><span> has been published by <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/www.thedailybeast.com\/who-is-really-buried-in-kv55-egypts-most-mysterious-tomb\" style=\"\">the Daily Beast<\/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\">Also making headlines: The economic crisis is continuing to get attention<\/span><span style=\"\">, with <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/www.reuters.com\/world\/middle-east\/how-deep-are-egypts-economic-troubles-2023-03-03\/\" style=\"\">Reuters<\/a><\/span><span style=\"\"> <\/span><span>out with a piece answering questions about its causes and the potential solutions. <\/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\/ancient-egypt\/\">Ancient Egypt<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/archaeology\/\">archaeology<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/economy\/\">economy<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                    <\/div>\n    <\/div>\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"582254\" class=\"issue-section \">\n<div class=\"issue-section__content\">\n<div class=\"stories\">    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"582255\" 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=\"582255\">\r\n            \r\n                <div class=\"issue-story-header text-center\">\r\n                    <div class=\"index-number\">8<\/div>\r\n\r\n                    <p class=\"f-graphik\">Also on our Radar<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2023\/03\/05\/ezz-steel-forecasts-egp-8-3-bn-in-losses-on-egp-depreciation-plus-smartphone-assembly-mature-oil-fields-bdcs-e-payments-arm-and-plenty-more\/\">\r\n                            Ezz Steel forecasts EGP 8.3 bn in losses on EGP depreciation. Plus: Smartphone assembly, mature oil fields, BdC\u2019s e-payments arm \u2014 and plenty more                        <\/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\/03\/05\/ezz-steel-forecasts-egp-8-3-bn-in-losses-on-egp-depreciation-plus-smartphone-assembly-mature-oil-fields-bdcs-e-payments-arm-and-plenty-more\/\" 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\/03\/05\/ezz-steel-forecasts-egp-8-3-bn-in-losses-on-egp-depreciation-plus-smartphone-assembly-mature-oil-fields-bdcs-e-payments-arm-and-plenty-more\/')\">\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\/03\/05\/ezz-steel-forecasts-egp-8-3-bn-in-losses-on-egp-depreciation-plus-smartphone-assembly-mature-oil-fields-bdcs-e-payments-arm-and-plenty-more\/\">\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=Ezz Steel forecasts EGP 8.3 bn in losses on EGP depreciation. Plus: Smartphone assembly, mature oil fields, BdC\u2019s e-payments arm \u2014 and plenty more&url=https:\/\/enterpriseam.com\/egypt\/2023\/03\/05\/ezz-steel-forecasts-egp-8-3-bn-in-losses-on-egp-depreciation-plus-smartphone-assembly-mature-oil-fields-bdcs-e-payments-arm-and-plenty-more\/\">\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\/03\/05\/ezz-steel-forecasts-egp-8-3-bn-in-losses-on-egp-depreciation-plus-smartphone-assembly-mature-oil-fields-bdcs-e-payments-arm-and-plenty-more\/&title=Ezz Steel forecasts EGP 8.3 bn in losses on EGP depreciation. Plus: Smartphone assembly, mature oil fields, BdC\u2019s e-payments arm \u2014 and plenty more\">\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=Ezz+Steel+forecasts+EGP+8.3+bn+in+losses+on+EGP+depreciation.+Plus%3A+Smartphone+assembly%2C+mature+oil+fields%2C+BdC%E2%80%99s+e-payments+arm+%E2%80%94+and+plenty+more+https%3A%2F%2Fenterpriseam.com%2Fegypt%2F2023%2F03%2F05%2Fezz-steel-forecasts-egp-8-3-bn-in-losses-on-egp-depreciation-plus-smartphone-assembly-mature-oil-fields-bdcs-e-payments-arm-and-plenty-more%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\/03\/05\/ezz-steel-forecasts-egp-8-3-bn-in-losses-on-egp-depreciation-plus-smartphone-assembly-mature-oil-fields-bdcs-e-payments-arm-and-plenty-more\/\">\r\n                    <div class=\"photo photo--above\">\r\n                        <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2023\/3\/construction-1600.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"582256\" data-permalink=\"https:\/\/enterpriseam.com\/egypt\/2023\/03\/05\/ezz-steel-forecasts-egp-8-3-bn-in-losses-on-egp-depreciation-plus-smartphone-assembly-mature-oil-fields-bdcs-e-payments-arm-and-plenty-more\/construction-1600-jpg\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2023\/3\/construction-1600.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"construction-1600.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2023\/3\/construction-1600.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2023\/3\/construction-1600.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-582255\" class=\"content-area-description single-story post-582255 post type-post status-publish format-standard has-post-thumbnail hentry category-also-on-our-radar tag-also-on-our-radar tag-amr-talaat tag-banque-du-caire tag-capital-markets tag-consumer-finance tag-contact-financial tag-development-finance tag-egx tag-egyptian-general-petroleum-corporation tag-energy tag-enterpriseam tag-ever-given tag-ezz-steel tag-fintech tag-industry tag-infrastructure tag-investment-watch tag-ipo-watch tag-ma-watch tag-manufacturing tag-nassef-sawiris tag-oil-and-gas tag-oil-ministry tag-qalaa-holdings tag-suez-canal tag-taqa-arabia tag-transport tag-travel tag-waste-management tag-world-bank wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:400;\"><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span><\/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;\">MANUFACTURING- <\/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\">Ezz Steel forecasts EGP 8.3 bn in losses on EGP depreciation:<\/span><span style=\"\"> Ezz Steel expects to <\/span><span>record losses of EGP 5.3 bn in the first two months of 2023 and EGP 3 bn in 4Q 2022 on the back the depreciation of the EGP, the company warned in an <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/ent.news\/2023\/3\/Ezz-Steel-2-3-2022.pdf\" style=\"\">EGX disclosure (pdf)<\/a><\/span><span> Thursday<\/span><span>. The steelmaker in October <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/ent.news\/2023\/3\/Ezz-Steel-30-10-2022.pdf\" style=\"\">forecast (pdf)<\/a><\/span><span> losses of EGP 1.9 bn in 2H 2022 on the back of <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/enterprise.press\/issues\/2022\/10\/31\/am-have-we-just-hit-bottom-the-egp-is-at-24-13-to-the-greenback\/#tldr-story-01\" style=\"\">that month\u2019s devaluation<\/a><\/span><span>, which left the EGP at around 24 to the USD. The EGP now stands at nearly 31 to the USD. Despite the losses, the company is still expected to record a profit in the last quarter of 2022, Naeem Brokerage\u2019s head of research Allen Sandeep told <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/www.asharqbusiness.com\/article\/47741\/83-%D9%85%D9%84%D9%8A%D8%A7%D8%B1-%D8%AC%D9%86%D9%8A%D9%87-%D8%AE%D8%B3%D8%A7%D8%A6%D8%B1-%D8%AD%D8%AF%D9%8A%D8%AF-%D8%B9%D8%B2-%D8%A7%D9%84%D9%85%D8%B5%D8%B1%D9%8A%D8%A9-%D9%85%D9%86-%D9%81%D8%B1%D9%88%D9%82-%D8%A7%D9%84%D8%B9%D9%85%D9%84%D8%A9-%D9%81%D9%8A-5-%D8%A3%D8%B4%D9%87%D8%B1\/\" style=\"\">Asharq Business<\/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;\">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\">Comms minister meets with big names in the tech scene: <\/span><span style=\"\">Communications Minister <\/span><span style=\"\">Amr Talaat<\/span><span> outsourcing and mobile phone assembly in Egypt with representatives of Ericsson, Lenovo, Nokia, and Detecon on the sidelines of the MWC Barcelona telecoms conference, the Ministry said in <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/www.facebook.com\/EgyptianCabinet\/posts\/pfbid0VEPNCrCKhCvYmCp5BxzT395KeNTBZbTr6xej2QrG3DDcjLGir4i8x4VW4mEPWH9fl\" style=\"\">a statement<\/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\">Remember:<\/span><span style=\"\"> Egypt\u2019s local phone assembly industry is picking up steam. Xiaomi, Oppo and Vivo <\/span><span>are all reportedly planning to set up factories here, joining Samsung and Nokia manufacturer HMD Global. MPs passed legislation this week that will <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/enterprise.press\/stories\/2023\/03\/01\/egypts-burgeoning-smartphone-assembly-industry-just-got-a-boost-98274\/\" style=\"\">slash customs duties<\/a><\/span><span style=\"font-weight:400;\"> on mobile phone components in a bid to attract more companies to the country.<\/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;\">FINTECH-<\/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\">BdC launches e-payments arm:<\/span><span style=\"\"> Banque du Caire\u2019s digital payments subsidiary <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/taly.com.eg\/\" style=\"\">Taly<\/a><\/span><span style=\"\"> <\/span><span style=\"\">has <\/span><span>launched with initial capital of EGP 500 mn, it said in <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/ent.news\/2023\/2\/Taly-Digital-Payments-Press-Release-EN.pdf\" style=\"\">a statement (pdf)<\/a><\/span><span>. The platform offers businesses digital payment acceptance, collections, and finance, as well as invoicing and prepaid cards, and also serves buy now, pay later (BNPL) players. The firm is headed by CEO Magdy Hassan, a payment industry veteran who previously spent 18 years at MasterCard, according to a separate <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/ent.news\/2023\/2\/Taly-Fact-Sheet-EN.pdf\" style=\"\">statement (pdf)<\/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;\">CONSUMER FINANCE-<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:700\">Contact adds new consumer finance products: <\/span><span style=\"\">Contact Financial Holding\u2019s <\/span><span>consumer financing arm is now providing financing for furniture and home maintenance, it said in <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/ent.news\/2023\/2\/contact-maintenance-and-furniture-product-v4-.pdf\" style=\"\">a statement (pdf)<\/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;\">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\">Sphinx International Airport received its first flight on Tuesday<\/span><span style=\"\"> since the airport <\/span><span>reopened in November, according to <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/english.ahram.org.eg\/News\/489870.aspx\" style=\"\">Ahram Online<\/a><\/span><span style=\"font-weight:400;\">. Nesma Airlines carried almost 170 people from Madrid to the airport, located west of Sheikh Zayed on the outskirts of Cairo. The airport was inaugurated in 2020 and was built to ease congestion at Cairo International Airport and provide easy access to the capital\u2019s main tourist sites.<\/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\">Wizz Air heading to Sohag from July:<\/span><span style=\"\"> Low-cost airliner Wizz Air Abu Dhabi will relaunch flights <\/span><span>between Abu Dhabi and Sohag this summer, it said in<\/span><span> <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/wizzair.com\/en-gb\/information-and-services\/about-us\/news\/2023\/02\/28\/wizz-air-abu-dhabi-growth-continues-with-the-addition-of-a-new-aircraft-expanding-its-ever-growing-network-with-routes-to-central-asia-europe-and-africa\" style=\"\">a<\/a><\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/wizzair.com\/en-gb\/information-and-services\/about-us\/news\/2023\/02\/28\/wizz-air-abu-dhabi-growth-continues-with-the-addition-of-a-new-aircraft-expanding-its-ever-growing-network-with-routes-to-central-asia-europe-and-africa\" style=\"\">statement<\/a><\/span><span style=\"font-weight:400;\"> Tuesday. The carrier will run three flights a week (Tuesday, Thursday and Sunday) from 4 July, it said. Wizz Air Abu Dhabi \u2014 a joint venture between European budget carrier Wizz Air and Abu Dhabi sovereign wealth fund ADQ \u2014 already operates flights to Alexandria.<\/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;\">IPO WATCH-<\/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\">ATM Misr eyes the Tadawul, then the EGX: <\/span><span style=\"\">The Saudi parent company of ATM Misr <\/span><span>wants to list on the Saudi Tadawul this year and is looking into listing its Egyptian arm on the EGX in the coming years, ATM Managing Director Amr Al Kouatli was quoted as telling <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/www.alborsaanews.com\/2023\/03\/02\/1638783\" style=\"\">Al Borsa<\/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\">Expansion in the works: <\/span><span>ATM Misr wants to double its production capacity to produce 500 King Long buses in our market each year, Al Kouatli said. The company last week inaugurated its <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/enterprise.press\/stories\/2023\/03\/01\/madbouly-seeks-to-assure-qatari-investors-on-a-near-end-of-exchange-rate-fluctuations-98279\/\" style=\"\">EGP 1 bn bus factory<\/a><\/span><span style=\"font-weight:400;\"> in New Suez. It also hopes to increase its use of local production inputs at the factory to 90%, he added, having last week said the local input ratio would reach as high as 60%. <\/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\">Gov\u2019t to launch its first global tender to redevelop mature oil fields: <\/span><span style=\"\">The Oil <\/span><span>Ministry and the Egyptian General Petroleum Corporation (EGPC) could launch the first international tender for the redevelopment and exploration of an unspecified number of mature oil fields in the Gulf of Suez this month, <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/almalnews.com\/premium\/%D8%AA%D9%81%D8%A7%D8%B5%D9%8A%D9%84-%D8%B7%D8%B1%D8%AD-%D8%A3%D9%88%D9%84-%D9%85%D8%B2%D8%A7%D9%8A%D8%AF%D8%A9-%D8%B9%D8%A7%D9%84%D9%85%D9%8A%D8%A9-%D9%84%D8%AA%D9%86%D9%85%D9%8A%D8%A9-%D8%AD%D9%82\/\" style=\"\">Al Mal<\/a><\/span><span> reports, citing unnamed sources in the oil sector. The most viable of the concessions \u2014 all of which were handed back to EGPC by international companies once they reached maturity \u2014 are Ras Badran, Ras Al Fanar, and Khaleej Al Zeit. The news comes less than a month after Oil Minister Tarek El Molla <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/enterprise.press\/stories\/2023\/02\/13\/this-morning-egyps-rolls-on-egx-sfe-and-el-sisi-all-in-the-gulf-96637\/\" style=\"\">said<\/a><\/span><span style=\"font-weight:400;\"> the state plans to offer three international gas and oil exploration tenders this 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;\">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\">More details on SCZone ties with Hungary: <\/span><span style=\"\">The Suez Canal Economic<\/span><span style=\"\"> Zone <\/span><span>(SCZone) and the Hungarian Export Promotion Agency (HEPA) will promote mutual investment, exchange expertise, and conduct training per a cooperation protocol they <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/enterprise.press\/stories\/2023\/02\/05\/egypt-hungary-sign-agreements-during-talks-in-budapest-95390\/\" style=\"\">signed nearly a month ago<\/a><\/span><span> during talks in Budapest, according to an SCZone <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/bit.ly\/3Z8ONQc\" style=\"\">statement<\/a><\/span><span>. Hungarian Prime Minister Viktor Orban and President Abdel Fattah El Sisi agreed on the \u201csignificant benefit\u201d for Hungarian investors from investing in the SCZone during a <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/enterprise.press\/stories\/2023\/03\/01\/el-sisi-orban-talk-migration-ukraine-and-food-energy-insecurity-98288\/\" style=\"\">meeting earlier this week<\/a><\/span><span>. <\/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\/amr-talaat\/\">Amr Talaat<\/a>\n         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management<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/world-bank\/\">World Bank<\/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=\"582257\" class=\"issue-section markets\">\n<div class=\"issue-section__content\">\n<div class=\"stories\">            <!-- Show divider before story section -->\r\n        <div \r\n            class=\"\r\n                story-section            \"\r\n            id=\"582257\">\r\n            \r\n                <div class=\"issue-story-header text-center\">\r\n                    <div class=\"index-number\">9<\/div>\r\n\r\n                    <p class=\"f-graphik\">PLANET FINANCE<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2023\/03\/05\/fed-policy-to-stay-tighter-for-longer-says-governor\/\">\r\n                            Fed policy to stay tighter for longer, says governor                        <\/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\/03\/05\/fed-policy-to-stay-tighter-for-longer-says-governor\/\" target=\"_blank\">\n                    Open in new tab                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/new-tab.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            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data-attachment-id=\"582258\" data-permalink=\"https:\/\/enterpriseam.com\/egypt\/2023\/03\/05\/fed-policy-to-stay-tighter-for-longer-says-governor\/federal-reserve-1600px-jpg\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2023\/3\/Federal-Reserve-1600px.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"Federal-Reserve-1600px.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2023\/3\/Federal-Reserve-1600px.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2023\/3\/Federal-Reserve-1600px.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-582257\" class=\"content-area-description single-story post-582257 post type-post status-publish format-standard has-post-thumbnail hentry category-planet-finance tag-amazon tag-enterpriseam tag-financial-markets tag-inflation tag-planet-finance tag-turkey tag-uae 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\/3\/.2dadbf63-382d-4d9e-9b7e-7ccc3ff8b3e8.mp3\"><\/audio><\/figure><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span><\/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><span style=\"font-weight:700\">Another sign that the Fed will stay hawkish:<\/span><span style=\"\"> Federal Reserve Governor Mary Daly has <\/span><span>become the latest official at the central bank to signal that interest rates will have to rise further than expected and will remain higher for longer. \u201cIt\u2019s clear there is more work to do,\u201d the San Francisco Fed president said yesterday. \u201cIn order to put this episode of high inflation behind us, further policy tightening, maintained for a longer time, will likely be necessary.\u201d <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/www.bloomberg.com\/news\/articles\/2023-03-04\/fed-s-daly-says-more-rate-hikes-likely-needed-to-cool-inflation?srnd=premium-middle-east\" style=\"\">Bloomberg<\/a><\/span><span> and the <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/www.ft.com\/content\/dd656797-f3bd-4948-8541-f8cd8df223f8\" style=\"\">Financial Times<\/a><\/span><span style=\"font-weight:400;\"> have more.<\/span><\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:700\">Turkey and the UAE are continuing to cozy up: <\/span><span style=\"\">Turkey and the UAE <\/span><span>have agreed to more than double their trade volumes over the coming five years to reach USD 40 bn from last year\u2019s USD 19 bn under a newly-signed agreement, Emirati state news agency <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/wam.ae\/en\/details\/1395303135361\" style=\"\">WAM reports<\/a><\/span><span>. The agreement is expected to open up new markets for the two countries in an array of sectors \u2014 agriculture, food security, telecom, logistics, real estate, and renewable energy. The former foes <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/enterprise.press\/stories\/2021\/11\/25\/this-morning-east-mediterranean-gas-forum-meeting-in-cairo-today-turkey-uae-sign-huge-investment-pact-merkel-out-scholz-in-58997\/\" style=\"\">signed a series of major investment agreements<\/a><\/span><span style=\"font-weight:400;\"> in 2021 which will see Abu Dhabi invest USD 10 bn in key areas of the Turkish economy.<\/span><\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:700;\">ALSO WORTH NOTING:<\/span><\/p><ul>\n<li><span style=\"font-weight:700\">Global food prices slip again: <\/span><span style=\"\">Food prices continued to slip in February as a drop in <\/span><span>vegetable oils and dairy prices sent the UN\u2019s <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/www.fao.org\/worldfoodsituation\/foodpricesindex\/en\/\" style=\"\">Food and Agriculture index<\/a><\/span><span> to its<\/span><span> lowest level since September 2021<\/span><span>. (<\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/www.fao.org\/worldfoodsituation\/foodpricesindex\/en\/\" style=\"\">FAO<\/a><\/span><span>)<\/span><\/li>\n<li><span style=\"font-weight:700\">PIF wants a piece of UK hotels group: <\/span><span style=\"\">Saudi Arabia\u2019s Public Investment Fund <\/span><span>reportedly wants a significant minority stake in British hotel group Rocco Forte Hotels in a transaction that could value the group at around USD 1.4 bn. (<\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/www.bloomberg.com\/news\/articles\/2023-03-03\/saudi-wealth-fund-said-in-talks-to-buy-rocco-forte-hotels-stake?srnd=premium-middle-east&amp;leadSource=uverify%20wall\" style=\"\">Bloomberg<\/a><\/span><span style=\"font-weight:400;\">)<\/span><\/li>\n<li><span style=\"font-weight:700\">More cost-cutting at Amazon: <\/span><span style=\"\">E-commerce giant Amazon has hit the brakes on the <\/span><span>construction of its USD 2.5 bn headquarters in Virginia, as it looks to cut unnecessary spending amid a cash crunch. The e-commerce giant <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/enterprise.press\/stories\/2023\/01\/19\/this-morning-in-davos-el-said-talks-up-privatization-and-investor-appetite-in-egypt-plus-hurghada-solar-tender-pushed-93958\/\" style=\"\">said in January<\/a><\/span><span> that it would lay off 18k employees around the world. (<\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/www.ft.com\/content\/f373a2ab-25ca-4f2e-a0f6-b3d7969f70c6\" style=\"\">Financial Times<\/a><\/span><span style=\"font-weight:400;\">)<\/span><\/li>\n<\/ul><p><a id=\"t.851c5584a5a14dd3020b07835b434d84619a516a\"><\/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-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\">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;\">16,847<\/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;\">-1.6% (YTD: +15.4%)<\/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\">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 30.66<\/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 30.75<\/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\">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 30.67<\/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 30.77<\/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-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\">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;\">10,278<\/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;\">+0.8% (YTD: -1.9%)<\/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;\">9,907<\/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;\">+0.4% (YTD: -3.0%)<\/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;\">3,420<\/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: +2.5%)<\/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\">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;\">4,046<\/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;\">+1.6% (YTD: +5.4%)<\/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\">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;\">7,947<\/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;\">+0.0% (YTD: +6.7%)<\/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\">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;\">4,295<\/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;\">+1.3% (YTD: +13.2%)<\/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\">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 85.83<\/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;\">+1.3%<\/span><\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-up\">\n<td class=\"td-list-up\">\n<p><svg class=\"e-icon e-TypeMarkets11\"><use xlink:href=\"#e-TypeMarkets11\"><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;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 3.01<\/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;\">+8.8%<\/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;\">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 1,854.60        <\/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;\">+0.8%<\/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\">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 22,216<\/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: 34.4%)<\/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 1.6% at Thursday\u2019s close<\/span><span style=\"\"> on turnover of EGP 2.1 bn (4.1% above the 90-day <\/span><span style=\"font-weight:400;\">average). Foreign investors were net sellers. The index is up 15.4% 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;\">AMOC (+2.2%), Oriental Weavers (+2.2%) and Rameda Pharma (+1.7%).<\/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>Eastern Company (-4.7%), Fawry (-4.1%) and Credit Agricole Egypt (-2.7%).<\/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\/amazon\/\">Amazon<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" 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<\/div>\n<\/div>\n<\/section>\n<section id=\"582259\" 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=\"582259\">\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\/03\/05\/shoukry-attends-g-20-meeting-dominated-by-ukraine-war-tensions\/\">\r\n                            Shoukry attends G-20 meeting dominated by Ukraine war tensions                        <\/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 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<\/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\/03\/05\/shoukry-attends-g-20-meeting-dominated-by-ukraine-war-tensions\/\">\r\n                    <div class=\"photo photo--above\">\r\n                        <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2023\/3\/Sameh-Shoukry-G20-1600.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"582260\" data-permalink=\"https:\/\/enterpriseam.com\/egypt\/2023\/03\/05\/shoukry-attends-g-20-meeting-dominated-by-ukraine-war-tensions\/sameh-shoukry-g20-1600-jpg\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2023\/3\/Sameh-Shoukry-G20-1600.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"Sameh-Shoukry-G20-1600.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2023\/3\/Sameh-Shoukry-G20-1600.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2023\/3\/Sameh-Shoukry-G20-1600.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-582259\" class=\"content-area-description single-story post-582259 post type-post status-publish format-standard has-post-thumbnail hentry category-diplomacy tag-diplomacy tag-enterpriseam tag-foreign-ministry tag-g20 tag-israel-palestine-conflict 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\/3\/.2dadbf63-382d-4d9e-9b7e-7ccc3ff8b3e8.mp3\"><\/audio><\/figure>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:400;\"><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"\"><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:700\">Shoukry at the G-20: <\/span><span style=\"\">Foreign Minister Sameh Shoukry attended the G-20 meeting on <\/span><span>combating terrorism and humanitarian assistance and disaster relief on Thursday in <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/enterprise.press\/stories\/2023\/03\/02\/this-evening-egp-slips-against-the-usd-blinken-demands-russia-renew-98483\/\" style=\"\">New Delhi<\/a><\/span><span>,  according to a ministry <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/bit.ly\/3SSa9yL\" style=\"\">statement<\/a><\/span><span>. Shoukry also met separately with his <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/bit.ly\/3SNHOtq\" style=\"\">Indian<\/a><\/span><span>, <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/bit.ly\/3Ykd6t8\" style=\"\">British<\/a><\/span><span>,  <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/bit.ly\/3SLxe6h\" style=\"\">Brazilian<\/a><\/span><span>, <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/bit.ly\/3YkUZ6g\" style=\"\">Canadian<\/a><\/span><span>, <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/bit.ly\/3SQ5PQH\" style=\"\">Dutch<\/a><\/span><span>, <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/bit.ly\/3mh7qCK\" style=\"\">Argentinian<\/a><\/span><span> and<\/span><span> <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/bit.ly\/3Zorwd2\" style=\"\">Mexican<\/a><\/span><span> counte<\/span><span>rparts <\/span><span style=\"font-weight:400;\">where they discussed bilateral relations, trade and investment opportunities, as well as international issues including the implications of Russia\u2019s war in Ukraine and the Israeli-Palestinian conflict.<\/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\">As expected, the war in Ukraine dominated proceedings: <\/span><span style=\"\">G-20 foreign ministers <\/span><span style=\"font-weight:400;\">were unable to produce a final statement following last week\u2019s meeting, with Western nations and Russia trading barbs over Moscow\u2019s invasion of Ukraine. <\/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- Egypt, world leaders condemn Israeli minister's call to wipe out Palestinian <\/span><span style=\"font-weight:700\">village: <\/span><span>Egypt <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/www.facebook.com\/EgyptianCabinet\/posts\/pfbid0DA4ZpQihSiZhYUCN98HvGJtm2RebJqj1g2MNws7LXobZCWWnK1wm8ZkB72GgNAFvl\" style=\"\">condemned<\/a><\/span><span> \u201cin the strongest terms\u201d calls by Israel\u2019s far-right finance minister to \u201cerase\u201d the Palestinian village of Hawara following last week\u2019s settler rampage. Other world leaders condemned the remarks, Including the <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/www.timesofisrael.com\/liveblog-march-2-2023\/\" style=\"\">UN<\/a><\/span><span> and <\/span><span>the <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/www.state.gov\/briefings\/department-press-briefing-march-1-2023\/\" style=\"\">US State Department<\/a><\/span><span>, which called them \u201crepugnant\u201d and \u201cdisgusting.\u201d Israeli settlers attacked the village last week, hours after two Israelis were shot by Palestinian gunmen, in what a senior Israeli military commander <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/news.sky.com\/story\/west-bank-violence-in-palestinian-town-described-as-a-pogrom-by-israeli-military-commander-12822393\" style=\"\">described<\/a><\/span><span style=\"font-weight:400;\"> as a \u201cpogrom.\u201d<\/span><\/p>\n\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/diplomacy\/\">DIPLOMACY<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/foreign-ministry\/\">Foreign Ministry<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/g20\/\">G20<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/israel-palestine-conflict\/\">Israel-Palestine conflict<\/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=\"582261\" 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\/03\/05\/582261\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-582261\" class=\"content-area-description single-story post-582261 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-11 March (Sunday-Saturday): 2023 Africa U20 Cup of Nations, Egypt, various locations.<\/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 style=\"font-weight:400;\">March: Palestine-Israel talks 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:400;\">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>2-5 March (Thursday-Sunday): <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/www.egyptcsrforum.com\/\" style=\"\">Egypt CSR & Sustainable Development Forum<\/a><\/span><span style=\"font-weight:400;\">, Hurghada.<\/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;\">5 March (Sunday): Senate reconvenes. <\/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 March (Monday): Telecom Egypt to announce 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;\">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>7 March (Tuesday): Higher Education Ministry to <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/www.facebook.com\/EgyptianCabinet\/posts\/pfbid02iSVaEsUy6bruy3PTrRT8UjMW9ZHftBEiGLzDthPWqC4qZKSve5rhQ5zdaQ2WSzsTl\" style=\"\">unveil national strategy<\/a><\/span><span style=\"font-weight:400;\"> for higher education.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:400;\">11-12 March (Saturday-Sunday): Techne Summit, National Museum of Egyptian Civilization.<\/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 March (Monday): BEBA Egypt hosts discussion and dinner with Oil Minister Tarek El Molla.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:400;\"> <\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:400;\">19 March (Sunday): House 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;\">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:400;\">31 March (Friday): Finance Ministry to present draft budget to House of Representative by this date.<\/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=\"\">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>9-11 May (Tuesday-Thursday): First edition of the <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/fintechrobos.com\/etn\/arab-actuarial-conference-2023\/\" style=\"\">Arab Actuarial Conference<\/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 style=\"font-weight:400;\">12 May (Friday): Expat car import scheme ends.<\/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;\">15 May (Monday): Enterprise Exports & FDI Forum, Four Seasons Hotel Cairo at Nile Plaza.<\/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>12 June - 15 July (Monday-Saturday): <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/www.facebook.com\/EgyptianCabinet\/posts\/pfbid0MomhExv4yWhogyCoY77i4QPaocEt1zS2uR4BR6pjLQZ8rw8mG5AcPjKXZNfCbv5Rl\" style=\"\">Thanaweya Amma exams<\/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;\">13 October- 20 October (Friday-Friday): The sixth edition of El Gouna Film Festival (GFF). <\/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:400;\">15-24 November (Wednesday-Friday): Cairo International Film Festival, Cairo.<\/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: 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":582234,"menu_order":0,"template":"","categories":[],"tags":[],"class_list":["post-582233","issue","type-issue","status-publish","has-post-thumbnail","hentry","wpautop","entry"],"acf":{"mongo_id":"d9bab23f-39d3-40c6-bab2-aed9f28bc76d","teaser":"","photo_url":"https:\/\/ent.news\/2023\/3\/18.jpg"},"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v27.1 (Yoast SEO v27.1.1) - 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