{"id":582315,"date":"2023-03-07T00:00:00","date_gmt":"2023-03-07T00:00:00","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/?post_type=issue&#038;p=582315"},"modified":"2025-12-16T13:08:25","modified_gmt":"2025-12-16T13:08:25","slug":"sovereign-fund-to-sell-stakes-in-2-3-state-companies-in-april","status":"publish","type":"issue","link":"https:\/\/enterpriseam.com\/egypt\/issues\/sovereign-fund-to-sell-stakes-in-2-3-state-companies-in-april\/","title":{"rendered":"Sovereign fund to sell stakes in 2-3 state companies in April"},"content":{"rendered":"<section id=\"582317\" 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=\"582317\">\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\/07\/this-morning-the-cbe-hasnt-moved-forward-its-march-policy-meeting-armenias-foreign-minister-is-in-town\/\">\r\n                            The Central Bank of Egypt hasn\u2019t moved forward its interest rates meeting + Armenia\u2019s foreign minister is in town                        <\/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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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\/.adb4ca20-309a-4978-923f-8be7d0a1b6b4.mp3\"><\/audio><\/figure><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:400;\"><\/span><\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:400;\"><\/span><\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:400;\"><\/span><\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:700\">Good morning, ladies and gents.<\/span><span style=\"font-weight:400;\"> First things first\u2026<\/span><\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:700\">Yesterday\u2019s EnterpriseAM was not a drill: <\/span><span style=\"\">We mistakenly sent out yesterday\u2019s edition of <\/span><span style=\"font-weight:400;\">EnterpriseAM from our \u201ctest\u201d address. The issue was accurate, final and complete. Please accept our apologies for any confusion caused. <\/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\"> FACT CHECK- The CBE hasn\u2019t moved forward its March policy meeting. <\/span><span style=\"\">Economist <\/span><span>Mostafa Badra <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/enterprise.press\/stories\/2023\/03\/06\/this-morning-efg-hermes-one-on-one-investor-conference-starts-today-foreign-reserves-rise-in-february-98722\/\" style=\"\">misspoke when he claimed<\/a><\/span><span> that the central bank will meet on 18 March, he told Ala Mas\u2019ouleety yesterday (<\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/www.youtube.com\/watch?v=OIU44gMnMI0\" style=\"\">watch, runtime: 6:41<\/a><\/span><span style=\"font-weight:400;\">). The Monetary Policy Committee meeting will go ahead on Thursday, 30 March as scheduled.<\/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\">The EFG Hermes One-on-One conference continues at the Atlantis Dubai today. <\/span><span style=\"\">The <\/span><span>largest investor conference in frontier and emerging markets \u2014 which is running this year under the theme Outplaying Challenges \u2014 brings together more than 560 fund and portfolio managers and C-suite execs from almost 180 companies in 29 countries. <\/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 have coverage of day one and the results of the 2023 One on One Survey in this morning\u2019s news well, below.<\/span><\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:700\">Armenian Foreign Minister Ararat Mirzoyan is starting a three-day visit to the Egyptian capital<\/span><span style=\"\"> <\/span><span>that will see him meet with Sameh Shoukry and participate in an Arab League session, the <\/span><span>Armenian Foreign Ministry spokesperson <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/www.facebook.com\/ArmSpoxMFA\/posts\/pfbid0mhm3uEERqCfMD2WFKa2RUY336f6ubPpnLSoJALz9NKaFwYwSEuyFgiS1eXkwkT3Ml\" style=\"\">said<\/a><\/span><span> yesterday. This comes a month after President El Sisi <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/enterprise.press\/stories\/2023\/01\/30\/el-sisi-talks-trade-and-investment-conflict-in-armenia-94856\/\" style=\"\">visited the country<\/a><\/span><span> as part of a diplomatic tour that also took him to Azerbaijan and India.<\/span><\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"\">The Higher Education Ministry will <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/www.facebook.com\/EgyptianCabinet\/posts\/pfbid02iSVaEsUy6bruy3PTrRT8UjMW9ZHftBEiGLzDthPWqC4qZKSve5rhQ5zdaQ2WSzsTl\" style=\"\">unveil<\/a><\/span><span style=\"-webkit-text-decoration-skip:none;font-weight:700;text-decoration-skip-ink:none\"><a href=\"https:\/\/www.facebook.com\/EgyptianCabinet\/posts\/pfbid02iSVaEsUy6bruy3PTrRT8UjMW9ZHftBEiGLzDthPWqC4qZKSve5rhQ5zdaQ2WSzsTl\" style=\"\">a national strategy<\/a><\/span><span style=\"font-weight:700\"> for higher <\/span><span style=\"font-weight:700\">education<\/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;\">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\">The US defense secretary is in Egypt:<\/span><span style=\"\"> US Secretary of Defense Lloyd J. Austin <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/enterprise.press\/stories\/2023\/03\/05\/this-morning-its-pmi-day-uber-fares-hiked-again-98558\/\" style=\"\">is in the<\/a><\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/enterprise.press\/stories\/2023\/03\/05\/this-morning-its-pmi-day-uber-fares-hiked-again-98558\/\" style=\"\">region<\/a><\/span><span> this week for a multi-day trip that will take him to Egypt, Israel and Jordan. The Pentagon has not disclosed Austin\u2019s itinerary. Austin <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/enterprise.press\/stories\/2023\/03\/06\/this-morning-efg-hermes-one-on-one-investor-conference-starts-today-foreign-reserves-rise-in-february-98722\/\" style=\"\">began his trip in Jordan<\/a><\/span><span> earlier 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\">Inflation figures for February will land at the end of this week.<\/span><span style=\"\"> <\/span><span>Consumer prices <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/enterprise.press\/stories\/2023\/02\/12\/food-prices-hit-record-high-on-january-devaluation-96498\/\" style=\"\">accelerated at their fastest pace in five years<\/a><\/span><span style=\"font-weight:400;\"> in January on the back of record food price inflation triggered by the devaluation of the EGP. <\/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 two-day <\/span><span style=\"-webkit-text-decoration-skip:none;font-weight:700;text-decoration-skip-ink:none\"><a href=\"https:\/\/cairo.technesummit.com\/2023\" style=\"\">Techne Summit<\/a><\/span><span style=\"font-weight:700\"> starts on Saturday<\/span><span style=\"\"> at the National Museum of Egyptian <\/span><span>Civilization.<\/span><\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:400;\"><\/span><\/p><div class=\"row\">\n<div class=\"col-md-12 subscribe-box-panel\">\n<div class=\"\">\n<div class=\"title\">\n<h4 class=\"fw-lighter mb-10\">\n          Get <b style=\"font-weight: 700\">Enterprise<\/b> daily<br>\n        <\/h4>\n<\/div>\n<p class=\"mb-10\">The roundup of news and trends that move your markets and shape corporate agendas delivered straight to your inbox.<\/p>\n<p>     <a href=\"egypt\/en\/user\/NewsLetters\" type=\"button \" class=\"btn-green px-3 d-flex align-items-center\">Subscribe here<\/a>\n    <\/p><\/div>\n<\/div>\n<\/div><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:700;\">EGP WATCH-  <\/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\"> The EGP has fallen more than 6% against the greenback in the parallel market over the <\/span><span style=\"font-weight:700\">past week<\/span><span> as expectation grows that authorities will again devalue the currency. The EGP was trading at 33.50 to the USD yesterday from around 31.50 last week, <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/www.bloomberg.com\/news\/articles\/2023-03-06\/egypt-s-pound-weakens-in-black-market-on-devaluation-bets?srnd=premium-middle-east&amp;leadSource=uverify%20wall\" style=\"\">Bloomberg<\/a><\/span><span> reports, citing traders. <\/span><span style=\"font-weight:700\">That\u2019s more than 8% above the official rate<\/span><span style=\"font-weight:400;\">, which yesterday rose to 30.84 from 30.77 on Sunday.<\/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 derivatives market isn\u2019t a pretty picture right now:<\/span><span style=\"\"> Twelve-month non-deliverable <\/span><span style=\"font-weight:400;\">forwards are now trading at 37.60, a 22% decline from the current official rate, according to the news outlet. The one-month EGP contract has fallen around 3.5% to 32.40 since the end of last month.<\/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:<\/span><span style=\"\"> Egypt has already devalued its currency three times over the past year, causing it to <\/span><span style=\"font-weight:400;\">lose almost half of its value against the greenback.<\/span><\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:700\">There\u2019s a consensus among international banks that more declines are coming<\/span><span style=\"\"> as Egypt <\/span><span>struggles to attract big-ticket FDIs from the Gulf and foreign portfolio investors continue to sit on the sidelines. <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/enterprise.press\/stories\/2023\/03\/01\/this-morning-cabinets-qatar-trip-ends-without-a-blockbuster-investment-announcement-98270\/\" style=\"\">Societe Generale<\/a><\/span><span> is expecting the currency to fall to 34.00 by the end of March and 37.00 by end-2023, while Credit Suisse analysts expect the currency to reach 35.00 and Goldman Sachs thinks we could soon see 36.00. HSBC <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/twitter.com\/asharqbegy\/status\/1630872939871477760?s=46&amp;t=Cq63c91xJGfofYXTk0WEhQ\" style=\"\">expects the currency<\/a><\/span><span style=\"font-weight:400;\"> to range between 30.00 and 35.00 for the remainder of the current fiscal year.<\/span><\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:700;\">WATCH THIS SPACE-<\/span><\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:700\">Fawry wants to make it easier for Egyptian expats to send money home:<\/span><span style=\"\"> EGX-listed e-payments giant Fawry will roll out a \u201cremittance hub\u201d by the end of the year <\/span><span>for Egyptians working across the MENA region to transfer funds home, CEO Ashraf Sabry told <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/www.asharqbusiness.com\/article\/47834\/%D9%81%D9%88%D8%B1%D9%8A-%D8%A7%D9%84%D9%85%D8%B5%D8%B1%D9%8A%D8%A9-%D8%AA%D9%88%D9%81%D8%B1-%D8%AE%D8%AF%D9%85%D8%A9-%D8%AA%D8%AD%D9%88%D9%8A%D9%84%D8%A7%D8%AA-%D8%A7%D9%84%D9%85%D8%BA%D8%AA%D8%B1%D8%A8%D9%8A%D9%86-%D9%81%D9%8A-%D8%B9%D8%AF%D9%91%D8%A9-%D8%AF%D9%88%D9%84-%D8%B9%D8%B1%D8%A8%D9%8A%D8%A9-%D9%87%D8%B0%D8%A7-%D8%A7%D9%84%D8%B9%D8%A7%D9%85\/\" style=\"\">Asharq Business<\/a><\/span><span>. The company is currently in talks with Banque du Caire and Abu Dhabi Islamic Bank to devise a mechanism for the transfers and <\/span><span>plans to extend its remittance services to expats in two other unspecified countries in the Gulf and the Levant<\/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\">Fawry last week <\/span><span style=\"-webkit-text-decoration-skip:none;font-weight:700;text-decoration-skip-ink:none\"><a href=\"https:\/\/enterprise.press\/stories\/2023\/02\/28\/cross-border-payments-bill-payments-are-getting-easier-for-egyptians-in-the-uae-thanks-to-fawry-botim-98160\/\" style=\"\">inked an agreement<\/a><\/span><span style=\"font-weight:700\"> with Emirati voice-calling app <\/span><span style=\"-webkit-text-decoration-skip:none;font-weight:700;text-decoration-skip-ink:none\"><a href=\"https:\/\/botim.me\/home\/\" style=\"\">Botim<\/a><\/span><span style=\"\"> to allow <\/span><span>Egyptian expats residing in the UAE to pay bills and send home remittances and is in the process of signing similar agreements with other UAE-based firms, Sabry said<\/span><span>.<\/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\">Increasing remittances was a key topic of discussion in the Senate yesterday<\/span><span style=\"\">, where <\/span><span style=\"font-weight:400;\">Emigration Minister Soha Gendy told senators that the government would offer incentives to expats to increase transfers. These include offering higher-yielding savings certificates at state-owned banks, land for housing and agricultural projects, and lower-priced plane tickets with EgyptAir.<\/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-<\/span><span style=\"font-weight:400;\"> The Senate will reconvene on Sunday, 26 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\">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;\">There are two stories driving the global conversation this morning:<\/span><\/p><ul>\n<li><span style=\"font-weight:700\">#1 Ukraine:<\/span><span style=\"\"> <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/www.reuters.com\/world\/europe\/ukraine-vows-not-give-up-bakhmut-amid-constant-russian-attacks-2023-03-06\/\" style=\"\">Reuters<\/a><\/span><span style=\"\">, the <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/www.nytimes.com\/2023\/03\/06\/world\/europe\/bakhmut-ukraine-russia-siege.html\" style=\"\">New York Times<\/a><\/span><span style=\"\"> and <\/span><span style=\"\">the <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/www.washingtonpost.com\/world\/2023\/03\/06\/bakhmut-wagner-mercenaries-russia-ukraine\/\" style=\"\">Washington Post<\/a><\/span><span style=\"\"> all have stories on <\/span><span style=\"font-weight:400;\">the latest on the key battle for the strategically important city of Bakhmut in the country\u2019s east.<\/span><\/li>\n<li><span style=\"font-weight:700\">#2 US-China:<\/span><span style=\"\"> The <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/www.wsj.com\/articles\/chinas-xi-jinping-takes-rare-direct-aim-at-u-s-in-speech-5d8fde1a\" style=\"\">Wall Street Journal<\/a><\/span><span style=\"\"> and <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/www.bloomberg.com\/news\/live-blog\/2023-03-06\/china-foreign-minister-qin-gang-s-press-conference?srnd=premium\" style=\"\">Bloomberg<\/a><\/span><span style=\"\"> are focusing on speeches made <\/span><span>by Chinese president Xi Jinping and the country\u2019s new foreign minister Qin Gang.<\/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: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=\"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 style=\"font-weight:400;\">.<\/span><\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:400;\"><\/span><\/p><hr style=\"height:2px;border-width:0;color:gray;background-color:gray\"><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"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\">COP WATCH- The first meeting of the loss and damage transitional committee will take <\/span><span style=\"font-weight:700\">place from 27-29 March<\/span><span>, the COP27 presidency said in an emailed statement yesterday.<\/span><span style=\"font-weight:700\"> <\/span><span>Governments <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/unfccc.int\/news\/cop27-reaches-breakthrough-agreement-on-new-loss-and-damage-fund-for-vulnerable-countries\" style=\"\">agreed<\/a><\/span><span style=\"font-weight:400;\"> to establish the committee during last year\u2019s COP27 summit in Sharm Sheikh to \u201cmake recommendations on how to operationalize both the new funding arrangements and the fund\u201d at COP28 in the UAE.<\/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 style=\"font-weight:400;\"> for a comprehensive listing of upcoming news events, national holidays and news triggers.<\/span><\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:400;\"><img data-recalc-dims=\"1\" decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2021\/3\/INFINITY-Top-banner-EN-1600x675-v2-02.png?ssl=1\"><\/span><\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:700\">*** It\u2019s Going Green day \u2014 your weekly briefing of all things green in Egypt:<\/span><span style=\"font-weight:400;\"> Enterprise\u2019s green economy vertical focuses each Tuesday on the business of renewable energy and sustainable practices in Egypt, everything from solar and wind energy through to water, waste management, sustainable building practices and how you can make your business greener, whatever the sector.<\/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 today\u2019s issue: <\/span><span style=\"\">Thinking about buying an EV? Read our guide on the current options on the <\/span><span>market, how much they\u2019ll set you back \u2014 and some points to consider before you decide to make the switch. <\/span><\/p>\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/central-bank-of-egypt\/\">Central Bank of Egypt<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/diplomacy\/\">DIPLOMACY<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/egypt-armenia-relations\/\">Egypt-Armenia relations<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/interest-rates\/\">interest rates<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <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=\"582319 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=\"582319\">\r\n            \r\n            <div class=\"story__body\">\r\n\r\n                <a href=\"https:\/\/enterpriseam.com\/egypt\/2023\/03\/07\/582319\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-582319\" class=\"content-area-description single-story post-582319 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>\n<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=\"582320\" 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=\"582320\">\r\n            \r\n                <div class=\"issue-story-header text-center\">\r\n                    <div class=\"index-number\">2<\/div>\r\n\r\n                    <p class=\"f-graphik\">Privatization<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2023\/03\/07\/sfe-to-sell-stakes-in-2-3-state-owned-firms-in-april-says-ceo\/\">\r\n                            Sovereign Fund of Egypt to sell stakes in state companies next month                        <\/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\/07\/sfe-to-sell-stakes-in-2-3-state-owned-firms-in-april-says-ceo\/\" target=\"_blank\">\n                    Open in new tab                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/new-tab.svg\" alt=\"\"> -->\n                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wp-post-image\" alt=\"\" data-attachment-id=\"582321\" data-permalink=\"https:\/\/enterpriseam.com\/egypt\/2023\/03\/07\/sfe-to-sell-stakes-in-2-3-state-owned-firms-in-april-says-ceo\/ayman-soliman-1600-jpg\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2023\/3\/Ayman-Soliman-1600.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"Ayman-Soliman-1600.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2023\/3\/Ayman-Soliman-1600.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2023\/3\/Ayman-Soliman-1600.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-582320\" class=\"content-area-description single-story post-582320 post type-post status-publish format-standard has-post-thumbnail hentry category-privatization-watch tag-ayman-soliman tag-enterpriseam tag-ipo-watch tag-sovereign-fund-of-egypt 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\/.adb4ca20-309a-4978-923f-8be7d0a1b6b4.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=\"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\"> <\/span><span style=\"font-weight:700\">Expect stake sales in pre-IPO fund firms in April:<\/span><span style=\"\"> The Sovereign Fund of Egypt\u2019s <\/span><span style=\"\">(SFE) <\/span><span>pre-IPO fund is set to offer stakes in 2-3 state-owned companies to strategic investors or via public share sales in April, <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/bit.ly\/41PSFY4\" style=\"\">CNBC Arabia<\/a><\/span><span> quotes Sovereign Fund of Egypt CEO Ayman Soliman as saying. <\/span><span style=\"font-weight:400;\">Soliman did not disclose the names of the companies that will sell shares next month.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:700\">AND- We\u2019re about to find out who\u2019s buying into the state-owned hotels company: <\/span><span style=\"\">The <\/span><span>government will \u201cwithin days\u201d make an announcement on stake sales in the <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/enterprise.press\/stories\/2023\/02\/23\/state-owned-hotels-company-will-offer-20-to-strategics-and-5-on-the-egx-plus-misr-life-sale-update-97676\/\" style=\"\">seven hotels<\/a><\/span><span style=\"font-weight:400;\"> it bundled into one company ahead of a sale, Soliman said. The company will offer a 20% stake to strategic investors, followed by an offering of 5% on the bourse, Public Enterprises Minister Mahmoud Esmat said last month.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:700\">Eleven companies are headed to the pre-IPO fund in total: <\/span><span style=\"\">Soliman said that <\/span><span>stake sales in 11 of the <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/enterprise.press\/stories\/2023\/02\/09\/rebooted-privatization-program-to-see-stakes-in-32-companies-sold-to-strategics-public-investors-96067\/\" style=\"\">32 companies<\/a><\/span><span> in the government\u2019s privatization program <\/span><span>will be managed through the pre-IPO fund. The SFE reportedly added<\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/enterprise.press\/stories\/2023\/01\/15\/five-state-military-owned-companies-added-to-pre-ipo-fund-93514\/\" style=\"\">five state- and military-owned companies to its pre-IPO fund<\/a><\/span><span> in January: Bottled drinks firm Safi, fuel retailer Wataniya, Banque du Caire, Misr Life Ins., and Egyptian Linear Alkyl Benzene (Elab). The fund, which also <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/enterprise.press\/stories\/2022\/10\/13\/sfe-gets-the-ball-rolling-on-power-plant-stake-sale-83838\/\" style=\"\">reportedly includes<\/a><\/span><span style=\"font-weight:400;\"> the Siemens-built, 4.8 GW combined-cycle power plant in Beni Suef, is said to be planning to offer a 20-30% stake in these companies to strategic investors.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:700\">REFRESHER- What pre-IPO fund? <\/span><span style=\"\">The fund <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/enterprise.press\/stories\/2022\/09\/07\/its-official-govt-is-on-board-with-a-flexible-exchange-rate-80579\/\" style=\"\">aims to prepare<\/a><\/span><span style=\"\"> state-owned enterprises for <\/span><span>listing on the EGX by offering an alternative to public share sales while market conditions remain volatile. The state wants to raise <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/enterprise.press\/stories\/2022\/09\/13\/up-to-usd-3-bn-in-strategic-stake-sales-to-be-announced-within-month-el-said-81031\/\" style=\"\">as much as USD 6 bn<\/a><\/span><span style=\"font-weight:400;\"> through strategic stake sales via the pre-IPO fund, Planning Minister and SFE Chairman Hala El Said has 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\">Are our Gulf neighbors gearing up to invest USD 4 bn? <\/span><span style=\"\">Strategic investors from the Gulf <\/span><span>could spend USD 4 bn to buy into local firms in a first phase of stake sales, Soliman said. It\u2019s not clear if he was referring to the first phase of stake sales under the pre-IPO fund \u2014 which Planning Minister Hala El Said said would raise USD 2.5-3 bn overall \u2014 or to the privatization program as a whole. The SFE, EGX, and government officials have <\/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=\"\">made a number of trips<\/a><\/span><span style=\"font-weight:400;\"> to the Gulf in recent weeks to market the privatization program to wealth funds and other strategics in the region. <\/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\">Qatar eyes more local sectors: <\/span><span style=\"\">Qatari investors are eyeing our logistics, containers, fertilizers, <\/span><span>and export sectors<\/span><span>, said Soliman. <\/span><span>An Egyptian <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/enterprise.press\/stories\/2023\/03\/01\/madbouly-reassures-qatari-investors-on-economy-in-bid-to-draw-investment-98272\/\" style=\"\">delegation to Qatar last week<\/a><\/span><span> returned home without any hint of progress on the<\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/enterprise.press\/stories\/2022\/03\/30\/qatar-to-invest-usd-5-bn-in-egypt-cemex-harmony-gold-to-invest-more-here-67923\/\" style=\"\">USD 5 bn<\/a><\/span><span> the country has pledged to invest here, though Qatari players did express interest in our health, food, hospitality, and tech sectors. Talks with the Qatar Investment Authority (QIA) to sell a stake in <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/enterprise.press\/stories\/2023\/02\/08\/el-said-calls-on-qataris-to-invest-adq-said-to-be-mounting-rival-bid-to-qias-vodafone-egypt-acquisition-95853\/\" style=\"\">Vodafone Egypt<\/a><\/span><span> and <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/enterprise.press\/stories\/2023\/01\/31\/investment-banks-eye-terminal-operator-ipos-and-qatars-swf-is-looking-for-a-strategic-stake-94977\/\" style=\"\">two container terminal operators<\/a><\/span><span style=\"font-weight:400;\"> have stalled in recent weeks, reportedly on the sizes of the stakes on offer.<\/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\">Strategics will strengthen banks ahead of IPOs: <\/span><span style=\"\">Stakes in state-owned banks Banque du <\/span><span>Caire (BdC), United Bank, and Arab African International Bank (AAIB) \u201care better placed with a strategic partner to lay down a clear vision and a clear reading on growth and then go to market afterwards,\u201d Soliman told Bloomberg in an interview yesterday (<\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/www.bloomberg.com\/news\/videos\/2023-03-06\/soliman-we-re-not-shying-away-from-local-offerings-video\" style=\"\">watch, runtime: 5:58<\/a><\/span><span>.<\/span><span style=\"font-weight:400;\">) \u201cWhen you crowd in the right strategic partner and then you go to market, the uptake on that market, the confidence in that company is a lot stronger,\u201d Soliman said. \u201cWe aren\u2019t shying away from local offerings or going to market but it\u2019s how much the market can absorb\u201d in terms of offering size, he 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\">REMEMBER-<\/span><span style=\"\"> The Madbouly government in early February revealed plans to <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/enterprise.press\/stories\/2023\/02\/09\/rebooted-privatization-program-to-see-stakes-in-32-companies-sold-to-strategics-public-investors-96067\/\" style=\"\">sell stakes in 32<\/a><\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/enterprise.press\/stories\/2023\/02\/09\/rebooted-privatization-program-to-see-stakes-in-32-companies-sold-to-strategics-public-investors-96067\/\" style=\"\">state-owned companies<\/a><\/span><span> over the next year under a rebooted privatization program designed <\/span><span>to help secure much needed FX<\/span><span> and boost the private sector\u2019s role in the economy in line with the <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/enterprise.press\/stories\/2023\/01\/11\/imf-breaks-down-the-details-on-our-usd-3-bn-loan-93298\/\" style=\"\">government\u2019s commitment to the IMF<\/a><\/span><span>. Prime Minister Moustafa Madbouly said that the state will offer shares in the companies to strategic investors, via offerings on the EGX or a mix of both over the next year. <\/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\/ayman-soliman\/\">Ayman Soliman<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/ipo-watch\/\">IPO watch<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/sovereign-fund-of-egypt\/\">Sovereign Fund of Egypt<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                    <\/div>\n    <\/div>\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"582322\" 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=\"582322\">\r\n            \r\n                <div class=\"issue-story-header text-center\">\r\n                    <div class=\"index-number\">3<\/div>\r\n\r\n                    <p class=\"f-graphik\">Privatization<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2023\/03\/07\/the-govt-is-reportedly-mulling-a-10-stake-sale-in-te\/\">\r\n                            Egypt to sell 10% stake in Telecom Egypt                        <\/a>\r\n                    <\/h3>\r\n\r\n                    \r\n\t\t\t\t\t\n<div 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        \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\/07\/the-govt-is-reportedly-mulling-a-10-stake-sale-in-te\/\">\r\n                    <div class=\"photo photo--above\">\r\n                        <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2023\/3\/telecom-egypt-1600-1.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"582323\" data-permalink=\"https:\/\/enterpriseam.com\/egypt\/2023\/03\/07\/the-govt-is-reportedly-mulling-a-10-stake-sale-in-te\/telecom-egypt-1600-1-jpg\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2023\/3\/telecom-egypt-1600-1.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"telecom-egypt-1600-1.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2023\/3\/telecom-egypt-1600-1.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2023\/3\/telecom-egypt-1600-1.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-582322\" class=\"content-area-description single-story post-582322 post type-post status-publish format-standard has-post-thumbnail hentry category-privatization-watch tag-cit tag-enterpriseam tag-ma-watch tag-telecom-egypt 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\/.adb4ca20-309a-4978-923f-8be7d0a1b6b4.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=\"\"><\/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\">Is <\/span><span style=\"font-weight:700\">TE the latest addition to Madbouly\u2019s privatization list<\/span><span style=\"font-weight:700\">?<\/span><span style=\"\"> The government is reportedly <\/span><span>planning to sell a 10% stake in state-owned Telecom Egypt (TE), <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/www.reuters.com\/world\/africa\/egypt-offers-sell-10-government-stake-telecom-egypt-sources-2023-03-06\/\" style=\"\">Reuters<\/a><\/span><span> <\/span><span>reports, citing unnamed sources it says have knowledge of the matter. The government currently holds 80% in the EGX<\/span><span>-listed company,<\/span><span> with the rest in freefloat, according to <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/ir.te.eg\/en\/Contactus\/FAQ\" style=\"\">TE\u2019s website<\/a><\/span><span>. The transaction would be worth some <\/span><span>EGP 4.6 bn a<\/span><span>t TE\u2019s current share price. \u0650<\/span><span style=\"\">A TE spokesperson did not deny the report when asked for comment by <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/bit.ly\/3mxFGtW\" style=\"\">Youm7<\/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\">Advisors: <\/span><span style=\"font-weight:400;\">The government tapped CI Capital and Al Ahly Pharos to manage the transaction, according to Reuters. <\/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 TE stake is likely to go to a local investor: <\/span><span style=\"font-weight:400;\">The 10% stake will be offered to both Egyptian and foreign investors but \u201cappetite from foreign investors seems low,\u201d the source told Reuters. <\/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>Strategic investors \u2014 including Gulf sovereign wealth funds, who are a key target market for the government\u2019s stake sales \u2014 tend to prefer to buy significant stakes in companies so they can play a leading role in helping them restructure and grow. In one example, talks with Qatari wealth fund QIA to buy part or all of TE\u2019s 45% stake in <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/enterprise.press\/stories\/2023\/02\/08\/el-said-calls-on-qataris-to-invest-adq-said-to-be-mounting-rival-bid-to-qias-vodafone-egypt-acquisition-95853\/\" style=\"\">Vodafone Egypt<\/a><\/span><span> have reportedly stalled because<\/span><span> the Madbouly government doesn\u2019t want to cede more than 25%.<\/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 didn\u2019t see this coming: <\/span><span>There\u2019s been no mention of TE ever being part of the government\u2019s privatization program and it was not named on Prime Minister Moustafa Madbouly\u2019s list of <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/enterprise.press\/stories\/2023\/02\/09\/rebooted-privatization-program-to-see-stakes-in-32-companies-sold-to-strategics-public-investors-96067\/\" style=\"\">32 state-owned companies<\/a><\/span><span style=\"font-weight:400;\"> earmarked for privatization.<\/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\">Plan B:<\/span><span style=\"\"> The government will look to raise funds from an issuance of <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/enterprise.press\/stories\/2022\/05\/30\/enterprise-explains-future-flow-securitization-72324\/\" style=\"\">future flow securities<\/a><\/span><span style=\"\"> if it<\/span><span style=\"\"> is <\/span><span>unable to sell shares to an investor, a source reportedly told <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/bit.ly\/3ydnfNI\" style=\"\">Asharq Business<\/a><\/span><span>. A source at the company <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/enterprise.press\/stories\/2023\/01\/12\/te-could-get-in-on-future-flows-93414\/\" style=\"\">told us in January<\/a><\/span><span style=\"font-weight:400;\"> that future flow securitization was on the table. <\/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\">TE saw steady growth last year:<\/span><span> TE\u2019s net income grew 9% y-o-y to EGP 9.2 bn in 2022, <\/span><span>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\/Telecom-Egypt-Earnings-Release-FY-2022-pdf.pdf\" style=\"\">earnings release (pdf)<\/a><\/span><span> out yesterday<\/span><span style=\"font-weight:400;\">. The firm reported EGP 44.3 bn in revenues during the year, up 19%.<\/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\">Market reax: <\/span><span style=\"font-weight:400;\">TE\u2019s share price lost 3.7% to settle at EGP 26.76 a piece on yesterday\u2019s close. <\/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\/cit\/\">CIT<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/ma-watch\/\">M&amp;A Watch<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/telecom-egypt\/\">Telecom Egypt<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                    <\/div>\n    <\/div>\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"582324\" 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=\"582324\">\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\">ENTERPRISE ON THE ROAD<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2023\/03\/07\/sfe-head-ayman-soliman-talks-privatization-at-efg-hermes-one-on-one-conference\/\">\r\n                            Sovereign Fund of Egypt head talks privatization at EFG Hermes\u2019 One-on-One conference                        <\/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\/07\/sfe-head-ayman-soliman-talks-privatization-at-efg-hermes-one-on-one-conference\/\" target=\"_blank\">\n                    Open in new tab                    <!-- <img decoding=\"async\" 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 \n<article id=\"post-582324\" class=\"content-area-description single-story post-582324 post type-post status-publish format-standard has-post-thumbnail hentry category-enterprise-on-the-road tag-ayman-soliman tag-efg-hermes tag-enterpriseam tag-karim-awad 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\/.adb4ca20-309a-4978-923f-8be7d0a1b6b4.mp3\"><\/audio><\/figure>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:400;\"><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"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\">EFG Hermes Group CEO Karim Awad kicked off the group\u2019s <\/span><span style=\"font-weight:700\">One-on-One Conferenc<\/span><span style=\"font-weight:700\">e in <\/span><span style=\"font-weight:700\">Dubai this morning<\/span><span style=\"\">,<\/span><span style=\"font-weight:700\"> <\/span><span style=\"\">welcoming 179 companies as well as 561 global institutional investors and fund managers to explore key investment opportunities across frontier and emerging marke<\/span><span style=\"\">ts.<\/span><span style=\"\"> The <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/ent.news\/2023\/3\/EFG-Hermes-17th-One-on-One-2023-English-6-March-2023.pdf\" style=\"\">conference (pdf)<\/a><\/span><span style=\"\">, headlined \u201cOutplaying Challenges,\u201d<\/span><span style=\"font-weight:400;\"> runs until 9 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:700\">Sovereign Fund of Egypt (SFE) CEO Ayman Soliman took to the One-on-One stage <\/span><span style=\"font-weight:700\">yesterday morning <\/span><span style=\"font-weight:400;\">to talk about the fund\u2019s approach, which sectors its eyeing, where its pre-IPO fund fits into the government\u2019s privatization plans, and how the depreciation of the EGP impacts potential investors. <\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:700\">\u201cEgypt is a two-sided economy,\u201d<\/span><span style=\"\"> Soliman told attendees. The SFE is targeting both of those <\/span><span style=\"font-weight:400;\">sides \u2014 \u201cthe old that needs to be rethought, which includes the agriculture, tourism, and services sectors, as well as any consumer-driven sectors,\u201d  as well as fast-growing new sectors like tech, renewables, and the green economy. \u201cOur ethos is to create avenues for capital to flow into key sectors,\u201d he said.  <\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:700\">Key sectors for the SFE: <\/span><span style=\"\">\u201cFor us, key growth comes from food, healthcare, logistics and <\/span><span style=\"font-weight:400;\">supply chain management, or sectors where labor arbitrage is beneficial,\u201d Soliman said. He also namechecked export-oriented businesses and those that have proven resilient against the currency devaluations. <\/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 SFE\u2019s pre-IPO fund gives state firms a chance to raise capital in challenging <\/span><span style=\"font-weight:700\">conditions: <\/span><span style=\"font-weight:400;\">\u201cGlobal equity markets are challenging and given the current devaluation, equities are becoming difficult to price,\u201d Soliman said. \u201cThis unlocked an opportunity for us to bring in strategic anchor partners that add value to the companies that need capitalization that is not abundant in the local market.\u201d <\/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\">Strategics bring expertise, which brings growth: <\/span><span style=\"\">\u201cOur process for the pre-IPO fund entails <\/span><span style=\"font-weight:400;\">carefully selecting companies that have the right growth profile and the right management talent, but don\u2019t have the right know-how or bandwidth to grow outside Egypt or tackle their next M&A. We bring in strategic partners who see these opportunities, and once that partnership is forged, the company goes to market at multiples of its valuation, which is [good] for investors, the partner, and the company. It\u2019s a two-way value-creation cycle.\u201d<\/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 investors should feel confident about returns: <\/span><span style=\"\">\u201cWe have seen a lot of private placement <\/span><span style=\"font-weight:400;\">investors locked into companies over the last two years, stuck with illiquid instruments due to COVID or geopolitical challenges. That is why we carefully select companies with high growth potential and good payout,\u201d Soliman said. \u201cSo if the government doesn\u2019t deliver, investors still get to walk away with returns.\u201d<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:700\">^^ You can read more from Soliman on the plans for the pre-IPO fund in the Privatization Watch section, above.<\/p>\n<hr style=\"height:2px;border-width:0;color:gray;background-color:gray\">\n<p style=\"padding-top:12pt;margin:0;padding-left:0;padding-bottom:12pt;line-height:1.15;orphans:2;widows:2;text-align:left;padding-right:0\"><span style=\"font-weight:700\">KEY TAKEAWAYS from EFG Hermes Research\u2019s 2023 One-on-One Live Poll<\/span><span style=\"\">,<\/span><span style=\"\"> the only live <\/span><span style=\"\">research poll we know of in frontier emerging markets. Participants ha<\/span><span style=\"\">d <\/span><span style=\"\">10 seconds<\/span><span style=\"\"> to<\/span><span style=\"font-weight:400;\"> vote live on each of 10 questions. Here\u2019s a roundup of the results:<\/span><\/p>\n<ul>\n<li><span style=\"font-weight:700\">Fed to stay hawkish for longer:<\/span><span style=\"font-weight:400;\"> Almost three-quarters (72%) of respondents think the Federal Reserve won\u2019t start to cut interest rates until 2024 \u2014 with 45% of all respondents expecting the cuts to come in 1H 2024.<\/span><\/li>\n<li><span style=\"font-weight:700\">Oil to tread water this year:<\/span><span style=\"\"> Almost three-quarters (73%) see Brent crude averaging USD 80 \/ bbl in 2023,<\/span><span style=\"font-weight:700\"> <\/span><span style=\"\">while 23% think it will reach USD 100. In September<\/span><span style=\"\"><a href=\"https:\/\/enterprise.press\/stories\/2022\/09\/20\/efgs-outlook-is-extremely-bullish-especially-in-the-gcc-81569\/\" style=\"\"><\/a><\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/enterprise.press\/stories\/2022\/09\/20\/efgs-outlook-is-extremely-bullish-especially-in-the-gcc-81569\/\" style=\"\">last year<\/a><\/span><span style=\"font-weight:400;\">, fewer respondents (46%) saw Brent averaging USD 80 \/ bbl in 2023 \u2014 and more (41%) predicted USD 100.<\/span><\/li>\n<li><span style=\"font-weight:700\">EM stocks > Wall Street:<\/span><span style=\"\"> MSCI\u2019s EM stock index will outperform the S&P 500 in USD terms this year, think the majority (57%). <\/span><\/li>\n<li><span style=\"font-weight:700\">AI is making waves:<\/span><span style=\"font-weight:400;\"> More than half (54%) of respondents already have a ChatGPT account. A full 12% still don\u2019t know what that is. <\/span><\/li>\n<li><span style=\"font-weight:700\">The biggest challenges for businesses? <\/span><span style=\"font-weight:400;\">Geopolitical factors (34%), cost of debt (25%), and lack of human capital (24%).<\/span><\/li>\n<li><span style=\"font-weight:700\">And the biggest factors driving chances for investment? <\/span><span style=\"font-weight:400;\">Saudi Arabia\u2019s Vision 2030 (34%) and AI (25%). Egypt\u2019s economic reforms got 12% of votes. <\/span><\/li>\n<li><span style=\"font-weight:700\">Climate change is a big concern:<\/span><span style=\"\"> More than seven in 10 investors believe climate change will have an impact on their business within the next 10 years.<\/span><span style=\"font-weight:700\"> <\/span><span style=\"font-weight:400;\">Some 41% think the impact will be moderate and 30% expect it to be significant.<\/span><\/li>\n<li><span style=\"font-weight:700\">The most concerning MENA-specific challenges: <\/span><span style=\"\">Inflation\u2019s impact on consumer stocks (37%) and the impact of tight liquidity on bank margins (31%).<\/span><\/li>\n<li><span style=\"font-weight:700\">The most attractive industries to invest in over the next five years: <\/span><span style=\"\">Healthcare (24%) and IT (19%), followed by renewable energy (18%) and food production (17%).<\/span><\/li>\n<\/ul>\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/ayman-soliman\/\">Ayman Soliman<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/efg-hermes\/\">EFG Hermes<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/karim-awad\/\">Karim Awad<\/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=\"582326\" 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=\"582326\">\r\n            \r\n                <div class=\"issue-story-header text-center\">\r\n                    <div class=\"index-number\">5<\/div>\r\n\r\n                    <p class=\"f-graphik\">Economy<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2023\/03\/07\/nuca-to-offer-cut-price-land-to-investors-paying-up-front-in-fx\/\">\r\n                            Egypt\u2019s New Urban Communities Authority to offer land discounts to investors buying with FX                        <\/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        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        \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\/07\/nuca-to-offer-cut-price-land-to-investors-paying-up-front-in-fx\/\">\r\n                    <div class=\"photo photo--above\">\r\n                        <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2023\/3\/Zed-city-Sheikh-Zayed-1600.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"582327\" data-permalink=\"https:\/\/enterpriseam.com\/egypt\/2023\/03\/07\/nuca-to-offer-cut-price-land-to-investors-paying-up-front-in-fx\/zed-city-sheikh-zayed-1600-jpg\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2023\/3\/Zed-city-Sheikh-Zayed-1600.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"Zed-city-Sheikh-Zayed-1600.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2023\/3\/Zed-city-Sheikh-Zayed-1600.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2023\/3\/Zed-city-Sheikh-Zayed-1600.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-582326\" class=\"content-area-description single-story post-582326 post type-post status-publish format-standard has-post-thumbnail hentry category-economy tag-enterpriseam tag-foreign-exchange tag-new-urban-communities-authority 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\/.adb4ca20-309a-4978-923f-8be7d0a1b6b4.mp3\"><\/audio><\/figure>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:400;\"><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"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: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 New Urban Communities Authority (NUCA) is trying to sweeten the deal for foreign <\/span><span style=\"font-weight:700\">investors considering purchasing land in Egypt <\/span><span style=\"\">with a discount for immediate payment in hard currency, according to <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/bit.ly\/3Zq9U0u\" style=\"\">Al Mal<\/a><\/span><span style=\"font-weight:400;\">. The authority will reportedly hand investors a 15% discount on the price of land if they pay the total sum up front using hard currency held abroad, the newspaper says.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:700\">Installments are also available: <\/span><span style=\"\">I<\/span><span style=\"\">nvestors will reportedly be able to pay for the land in <\/span><span style=\"\">installments using USDs, taking into account the average interest rate of USD certificates at state-owned banks during the time of the repayment. <\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:700\">No USDs, no problem: <\/span><span style=\"\">NUCA has approved a decision to allow local and foreign investors to <\/span><span style=\"font-weight:400;\">pay their installments in EGP, taking into account the central bank\u2019s interest rate and the USD exchange rate at the payment day, provided that the installment period doesn\u2019t exceed three years. <\/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 state really wants hard currency:<\/span><span style=\"\"> The attempt to tempt foreigners to purchase land with <\/span><span style=\"\">foreign currencies is one of a number of ways the government is looking to bring in greenbacks and end the FX shortage. It is trying to encourage Egyptian expats to import cars and pay customs and taxes in FX via a <\/span><span style=\"font-size:10.5pt;\">\u2014 <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/enterprise.press\/stories\/2023\/03\/01\/mps-approve-changes-to-expat-car-import-scheme-98276\/\" style=\"\">so far unsuccessful<\/a><\/span><span style=\"\"> \u2014 scheme that launched in November, while <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/enterprise.press\/stories\/2022\/10\/23\/cabinet-to-introduce-investment-incentives-for-fx-backed-industrial-projects-84738\/\" style=\"\">proposed amendments to the Investment Act<\/a><\/span><span style=\"font-weight:400;\"> would hand tax breaks to companies that use FX to fund local projects.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:700\">Who\u2019s eligible? <\/span><span style=\"\">Investors wanting to purchase state-owned land for various uses, with the <\/span><span style=\"font-weight:400;\">exception of industrial activities and warehouses. <\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:700\">Background:<\/span><span style=\"\"> The cabinet <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/enterprise.press\/stories\/2022\/12\/08\/it-just-got-easier-for-industry-to-get-golden-licenses-90643\/\" style=\"\">approved the sale<\/a><\/span><span style=\"\"> of a state-owned plot in Sadat City to an unnamed <\/span><span>Gulf investor in December, setting a precedent to approve similar cases where foreign investors agree to pay for land in FX. Walid Abbas, assistant housing minister and supervisor of planning and projects at NUCA, <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/enterprise.press\/stories\/2023\/01\/17\/hccd-reportedly-in-talks-to-sell-land-to-gulf-investors-93738\/\" style=\"\">said the following month<\/a><\/span><span> that NUCA had received \u201cmany requests by Arab and foreign investors\u201d to purchase state-owned land in USD.<\/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\/foreign-exchange\/\">foreign exchange<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/new-urban-communities-authority\/\">New Urban Communities Authority<\/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=\"582328 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=\"582328\">\r\n            \r\n            <div class=\"story__body\">\r\n\r\n                <a href=\"https:\/\/enterpriseam.com\/egypt\/2023\/03\/07\/582328\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-582328\" class=\"content-area-description single-story post-582328 post type-post status-publish format-standard hentry category-advertiser wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<p><span style=\"font-weight:400;\"><a href=\"https:\/\/www.sodic.com\/\" target=\"_blank\" rel=\"noopener\"><img data-recalc-dims=\"1\" decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2023\/1\/3-SODIC-Eastown-1600px.jpg?ssl=1\"><\/a><\/span><\/p>\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"582329\" 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=\"582329\">\r\n            \r\n                <div class=\"issue-story-header text-center\">\r\n                    <div class=\"index-number\">6<\/div>\r\n\r\n                    <p class=\"f-graphik\">LAST NIGHT\u2019S TALK SHOWS<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2023\/03\/07\/last-nights-talk-shows-is-more-of-te-up-for-sale\/\">\r\n                            Telecom Egypt sale, medicine prices and an interview with the GAFI CEO                        <\/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 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                <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2020\/2\/TelecomEgyptHQ1600.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"582330\" data-permalink=\"https:\/\/enterpriseam.com\/egypt\/2023\/03\/07\/last-nights-talk-shows-is-more-of-te-up-for-sale\/telecomegypthq1600-jpg\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2020\/2\/TelecomEgyptHQ1600.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"TelecomEgyptHQ1600.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2020\/2\/TelecomEgyptHQ1600.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2020\/2\/TelecomEgyptHQ1600.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-582329\" class=\"content-area-description single-story post-582329 post type-post status-publish format-standard has-post-thumbnail hentry category-last-nights-talk-shows tag-el-forsa tag-enterpriseam tag-gafi tag-telecom-egypt 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\/.adb4ca20-309a-4978-923f-8be7d0a1b6b4.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=\"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\">A business-econ heavy night on the airwaves last night<\/span><span style=\"font-weight:400;\">, with the potential sale of a stake in Telecom Egypt, consumer prices, and investment all being subjects of discussion.<\/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\">First up: TE<\/span><span style=\"\">, which could see 10% of its shares sold to private investors, according to a <\/span><span>Reuters report yesterday (more on this in the news well, above). Lamees El Hadidi invited on Azimut\u2019s regional head of asset management, Ahmed Abou El Saad, who speculated that the government would likely sell shares via a private placement on the EGX (<\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/www.youtube.com\/watch?v=5JWgJwVcyVQ\" style=\"\">watch, runtime: 13:07<\/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\">Why the negative market reaction? <\/span><span style=\"\">El Saad blamed the surprise factor for TE\u2019s shares falling <\/span><span>3.7% on the news. \u201cThe fact that this news came before TE moved forward with <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/enterprise.press\/stories\/2023\/02\/08\/el-said-calls-on-qataris-to-invest-adq-said-to-be-mounting-rival-bid-to-qias-vodafone-egypt-acquisition-95853\/\" style=\"\">selling its stake in Vodafone Egypt<\/a><\/span><span> to Qatar\u2019s wealth fund was surprising,\u201d he said. He described the potential Vodafone stake sale as a \u201cgame changer\u201d that would allow the company to completely overhaul its operations. El Hekaya also covered the news (<\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/www.youtube.com\/watch?v=2ttcgWczmRQ\" style=\"\">watch, runtime: 13:07<\/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\">One-on-one with GAFI<\/span><span style=\"font-weight:700\">: <\/span><span style=\"\">El Hadidi was also joined by GAFI head Hossam Heiba to discuss the <\/span><span>government\u2019s efforts to attract foreign direct investment (<\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/www.youtube.com\/watch?v=cKgSabMS7JU\" style=\"\">watch, runtime: 5:24<\/a><\/span><span> | <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/www.youtube.com\/watch?v=5yClgRGf7ss\" style=\"\">2:00<\/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\">Meds could get more expensive<\/span><span style=\"font-weight:700\">: <\/span><span style=\"\">Some 60-70 medicine manufacturers submitted <\/span><span>requests to the Egyptian Drug Authority to hike prices against the backdrop of the EGP\u2019s depreciation. (Kelma Akhira | <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/www.youtube.com\/watch?v=nw5XHEoIdeU\" style=\"\">watch, runtime: 8:23<\/a><\/span><span>)<\/span><\/li>\n<li><span style=\"font-weight:700\">The <\/span><span style=\"-webkit-text-decoration-skip:none;font-weight:700;text-decoration-skip-ink:none\"><a href=\"https:\/\/enterprise.press\/stories\/2023\/03\/05\/last-nights-talk-shows-a-new-minimum-wage-beware-internet-scams-98567\/\" style=\"\">Hoggpool scam<\/a><\/span><span style=\"font-weight:700\"> got you paranoid? <\/span><span style=\"\">A former assistant interior minister shared <\/span><span>some tips to help people stay clear of internet scams. (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=NU31oV7uk90\" style=\"\">watch, runtime: 12:16<\/a><\/span><span style=\"font-weight:400;\">)<\/span><\/li>\n<li><span style=\"font-weight:700\">In and out: <\/span><span style=\"\">Authorities released 30 more pretrial detainees who received pardons from <\/span><span>the presidential pardon committee yesterday, a day after sentencing 14 people to jail on terrorism charges. (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=2EyMdKVoq4o\" style=\"\">watch, runtime: 0:55<\/a><\/span><span>) (<\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/www.youtube.com\/watch?v=gYBzMP07kFo\" style=\"\">Masaa DMC | watch, runtime: 4:15<\/a><\/span><span style=\"font-weight:400;\">)<\/span><\/li>\n<\/ul>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:700\">PSA for startups: <\/span><span style=\"\">Startups competition show <\/span><span style=\"\">El Forsa h<\/span><span style=\"\">osted by Kelma Akhira's Lamees El <\/span><span>Hadidi is back for another season, El Hadidi said during Kelma Akhira (<\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/www.facebook.com\/ElForsamalameeselhadidi\/videos\/3330750997177146\/?extid=NS-UNK-UNK-UNK-IOS_GK0T-GK1C&mibextid=2Rb1fB\" style=\"\">watch, runtime: 11:18<\/a><\/span><span style=\"font-weight:400;\">). Some of the most prominent companies in our local startup scene are El Forsa alumni \u2014 Thndr, Swvl, and Mozare3. <\/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\">Interested? <\/span><span>Eligible startups have until 15 April to <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/docs.google.com\/forms\/d\/e\/1FAIpQLSeYtzXJ_gqSFL73-4cRQOK-e-dOx0tse2r_9nMf_mejSCP2fg\/viewform\" style=\"\">apply<\/a><\/span><span style=\"font-weight:400;\"> to be on the show. Applicants have to be no older than three years of age, have an actual product or service to offer, and are already established. <\/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\/el-forsa\/\">El Forsa<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/gafi\/\">GAFI<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/telecom-egypt\/\">Telecom Egypt<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                    <\/div>\n    <\/div>\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    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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\/07\/smiling-sphinx-unearthed-in-qena\/\">\r\n                            Smiling sphinx unearthed in Qena                        <\/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\/07\/smiling-sphinx-unearthed-in-qena\/\" target=\"_blank\">\n           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data-permalink=\"https:\/\/enterpriseam.com\/egypt\/2023\/03\/07\/smiling-sphinx-unearthed-in-qena\/sphinx-discovery-1600-jpg\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2023\/3\/Sphinx-Discovery-1600.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"Sphinx-Discovery-1600.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2023\/3\/Sphinx-Discovery-1600.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2023\/3\/Sphinx-Discovery-1600.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-582332\" class=\"content-area-description single-story post-582332 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 tag-human-rights 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\/.adb4ca20-309a-4978-923f-8be7d0a1b6b4.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=\"font-weight:700\">A second big archaeological discovery in less than a week is topping the foreign <\/span><span style=\"font-weight:700\">headlines on Egypt this morning:<\/span><span> Following last week\u2019s <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/enterprise.press\/stories\/2023\/03\/05\/hidden-chamber-at-the-great-pyramid-uncovered-thanks-to-cosmic-ray-tech-98569\/\" style=\"\">hidden tomb in the Great Pyramid<\/a><\/span><span>, archaeologists <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/www.facebook.com\/tourismandantiq\/posts\/pfbid0FUPgyPxnro9DjCNFShvvkeEbznWBS913BwWGD42Cw5cPr8oLQptA61RaHaNzSgSKl\" style=\"\">have unearthed<\/a><\/span><span> a \u201csmiley, dimpled\u201d Sphinx statue in Qena\u2019s Temple of Dendera. The artifact is thought to depict Roman emperor Claudius. The <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/apnews.com\/article\/egypt-antiquities-sphinx-roman-emperor-tourism-caa5550fed3bc6d89002ed33fb41ba3a\" style=\"\">Associated Press<\/a><\/span><span>, <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/www.barrons.com\/news\/smiley-dimpled-sphinx-statue-unearthed-in-egypt-ae1bc445\" style=\"\">AFP<\/a><\/span><span> and <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/www.wionews.com\/world\/rare-sphinx-like-roman-era-statue-with-dimples-and-smiley-face-unearthed-in-egypt-569324\" style=\"\">WION<\/a><\/span><span> all took note. Meanwhile, <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/www.dw.com\/en\/egypt-researchers-seeking-secrets-in-great-pyramid-of-giza\/a-64896514\" style=\"\">DW<\/a><\/span><span style=\"font-weight:400;\"> has a piece out on the hidden chamber.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:700\">MEANWHILE- <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/www.voanews.com\/a\/as-parts-of-egyptian-economy-face-crisis-others-appear-more-resilient\/6991781.html\" style=\"\">Voice of America<\/a><\/span><span style=\"\"> had coverage of our <\/span><span style=\"\">economic woes<\/span><span style=\"font-weight:700\"> <\/span><span style=\"\">and <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/www.voanews.com\/a\/egypt-jails-activists-for-years-on-terrorism-rights-groups\/6991172.html\" style=\"\">AFP<\/a><\/span><span style=\"\"> covered the <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/enterprise.press\/stories\/2023\/03\/06\/egypt-in-the-news-another-incident-in-the-suez-canal-a-mass-sentencing-diplomatic-talks-in-cairo-98730\/\" style=\"\">mass sentencing<\/a><\/span><span> of 14 people to jail, including lawyers and rights activists, on terrorism charges.<\/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\/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                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/human-rights\/\">human rights<\/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=\"582334\" class=\"issue-section \">\n<div class=\"issue-section__content\">\n<div class=\"stories\">    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"582335\" 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=\"582335\">\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\/07\/companies-no-longer-need-a-credit-rating-to-issue-bonds-sukuk\/\">\r\n                            Companies no longer need a credit rating to issue bonds + sukuk                        <\/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 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data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2019\/7\/Fawry-1600px.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2019\/7\/Fawry-1600px.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-582335\" class=\"content-area-description single-story post-582335 post type-post status-publish format-standard has-post-thumbnail hentry category-also-on-our-radar tag-egyptian-general-petroleum-corporation tag-energy tag-enterpriseam tag-fawry tag-financial-regulatory-authority tag-fintech tag-flat6labs tag-oil-and-gas tag-oil-ministry tag-ora-developers tag-q-holding tag-real-estate tag-remittances tag-startup-watch tag-tourism wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<aside>\t\t\t<div\r\n\t\t\t\t\t\t\t\tclass=\"newspack-popup-container newspack-popup hidden  newspack-inline-popup  newspack-lightbox-no-border   \"\r\n\t\t\t\trole=\"button\"\r\n\t\t\t\ttabindex=\"0\"\r\n\t\t\t\tstyle=\"background-color:#FFFFFF;color:#000\"\r\n\t\t\t\tid=\"id_408146\"\r\n\t\t\t\tdata-segments=\"\"\r\n\t\t\t\tdata-frequency=\"0,0,0,month\"\r\n\t\t\t>\r\n\t\t\t\t\n<div class=\"wp-block-group has-light-gray-background-color has-background\" style=\"padding-top:0px;padding-right:0px;padding-bottom:0px;padding-left:0px\"><div class=\"wp-block-group__inner-container is-layout-constrained wp-container-core-group-is-layout-ef38739e wp-block-group-is-layout-constrained\">\n<div class=\"wp-block-group is-content-justification-center is-nowrap is-layout-flex wp-container-core-group-is-layout-94bc23d7 wp-block-group-is-layout-flex\"><div class=\"wp-block-image\">\n<figure class=\"aligncenter size-full\"><img decoding=\"async\" src=\"https:\/\/ent.news\/internal\/408144.svg\" alt=\"\" class=\"wp-image-408144\"\/><\/figure>\n<\/div><\/div>\n<\/div><\/div>\n\t\t\t<\/div>\r\n\t\t<\/aside>\n<figure class=\"wp-block-audio mb-0\"><audio controls preload=\"metadata\" src=\"https:\/\/s3.us-east-1.amazonaws.com\/ent.news\/audio\/2023\/3\/.adb4ca20-309a-4978-923f-8be7d0a1b6b4.mp3\"><\/audio><\/figure><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:400;\"><\/span><\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:400;\"><\/span><\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:400;\"><\/span><\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:700;\">DEBT-<\/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 no longer need a credit rating to<\/span><span style=\"font-weight:700\"> issue<\/span><span style=\"font-weight:700\"> bonds + sukuk: <\/span><span style=\"\">The Financial <\/span><span>Regulatory Authority (FRA) will allow companies to sell bonds and sukuk without first acquiring a credit rating, making it less expensive for firms to raise capital for growth and development, it said in <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/bit.ly\/3ZnGakF\" style=\"\">a statement<\/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\">Three caveats: <\/span><span style=\"\">The value of debt cannot exceed the value of the company\u2019s net assets; <\/span><span style=\"font-weight:400;\">companies must publish a disclosure detailing the nature of the issuance ahead of a sale; and only and only \u201cqualified investors\u201d can buy in through private placements. <\/span><\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:700;\">M&amp;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\">Arab Developers Holding could sell subsidiary for USD 18 mn: <\/span><span style=\"\">EGX-listed real estate firm <\/span><span>Arab Developers Holding\u2019s board of directors is mulling accepting a USD 18 mn bid from an undisclosed foreign company to acquire 100% of its subsidiary <\/span><span>Amer Syria<\/span><span>, according to <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/ent.news\/2023\/3\/Arab-developers-AR-PR.pdf\" style=\"\">a disclosure to the bourse<\/a><\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/ent.news\/2023\/3\/Arab-developers-AR-PR.pdf\" style=\"\">(pdf)<\/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;\">REAL ESTATE-<\/span><\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:700\">Ora, Q Holding to build \u201csmart city\u201d in Abu Dhabi: <\/span><span style=\"\">Naguib Sawiris\u2019 <\/span><span style=\"\">Ora Real Estate <\/span><span>Development Group is partnering up with Abu Dhabi investment company Q Holding to develop a 20 mn sqm city in Abu Dhabi, according to a <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/ent.news\/2023\/3\/V3-ORA-Q-Ghantoot-Press-Release-ENG-002.pdf\" style=\"\">joint s<\/a><\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/ent.news\/2023\/3\/V3-ORA-Q-Ghantoot-Press-Release-ENG-002.pdf\" style=\"\">tatement (pdf)<\/a><\/span><span> <\/span><span style=\"font-weight:400;\">yesterday. The city, described by the companies as \u201csmart and sustainable,\u201d will include residential areas, services, hotel establishments, and commercial spaces. <\/span><\/p><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><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:700\">EGPC kicks off first global tender to develop mature oil fields: <\/span><span style=\"\">The Egyptian General <\/span><span>Petroleum Corporation (EGPC) launched its first international tender for the development of eight mature oil fields in the Gulf of Suez and Eastern Desert on Thursday, the Oil Ministry said in <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/www.facebook.com\/EgyptianCabinet\/posts\/pfbid0MDvJ4LvW6gTGNccNMAC6hhq7oP4yu46f38KhhDxRVwSnnxQsroszuRMgBRA9vyAxl\" style=\"\">a statement<\/a><\/span><span>. Interested parties have until 15 June to submit their bids, according to the <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/ent.news\/2023\/3\/2023-Brownfields-Bid-Round-Procedures.pdf\" style=\"\">bidding procedures (pdf)<\/a><\/span><span style=\"font-weight:400;\"> shared by EGPC.<\/span><\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:700\">REMEMBER-<\/span><span style=\"\"> The ministry is planning to launch three international oil and gas exploration <\/span><span>tenders this year, Minister <\/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=\"\">Tarek El Molla said<\/a><\/span><span style=\"font-weight:400;\"> last month.<\/span><\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:700;\">TOURISM-<\/span><\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:700\">State to tap Italian partner to boost yacht tourism? <\/span><span style=\"\">The Madbouly government met with <\/span><span>representatives from the Italian <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/www.navigotoscana.it\/?lang=en\" style=\"\">Navigo Group<\/a><\/span><span> to discuss the future of <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/enterprise.press\/stories\/2022\/08\/24\/how-egypt-plans-to-become-a-global-yacht-tourism-destination-79010\/\" style=\"\">yacht tourism in Egypt<\/a><\/span><span>, according to a <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/www.facebook.com\/EgyptianCabinet\/posts\/pfbid0wQC5ujUf6MvcoaZEB7Bhj38VhBjbnZL8e4SkMduZzGC3Ye3CcbzmCmRzDMpdYeCil\" style=\"\">statement<\/a><\/span><span style=\"font-weight:400;\">. The two sides agreed to draft an MoU outlining proposals for future cooperation to boost yacht tourism 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:700;\">SUSTAINABILITY-<\/span><\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:700\">CIRA Ed<\/span><span style=\"font-weight:700\">ucation has published its first annual sustainability report<\/span><span style=\"\">, laying out the <\/span><span>company\u2019s use of natural resources and what it is doing to boost sustainability at its facilities and operations. The education investment firm plans to reduce energy use and <\/span><span>emissions by 10<\/span><span>% and implement an enhanced waste and recycling plan by 2026, as well as implement one renewable energy project each year for the next three years. Check out the report <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/ent.news\/2023\/3\/CIRA-Education-Integrated-Report-5-Mar-2023-Final.pdf\" style=\"\">here (pdf)<\/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\">REMEMBER- <\/span><span>Corporates must now <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/enterprise.press\/stories\/2022\/04\/10\/this-morning-its-inflation-day-eu-official-in-town-to-talk-mediterranean-green-hydrogen-partnership-68792\/\" style=\"\">publicly disclose<\/a><\/span><span style=\"font-weight:400;\"> their performance on key environmental, social and governance metrics each year when they submit their annual financial statements. <\/span><\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:700;\">STARTUPS-<\/span><\/p><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\">Flat6Labs launched its <\/span><span style=\"-webkit-text-decoration-skip:none;font-weight:700;text-decoration-skip-ink:none\"><a href=\"https:\/\/www.startmashreq.com\/en\/\" style=\"\">StartMashreq<\/a><\/span><span style=\"font-weight:700\"> initiative to support entrepreneurs across Lebanon, <\/span><span style=\"font-weight:700\">Jordan, and Iraq<\/span><span>, it<\/span><span> said in <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/ent.news\/2023\/3\/Flat6Labs-StartMashreq-PRL-EVF-For-Dispatch.docx.pdf\" style=\"\">a s<\/a><\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/ent.news\/2023\/3\/Flat6Labs-StartMashreq-PRL-EVF-For-Dispatch.docx.pdf\" style=\"\">tatement<\/a><\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/ent.news\/2023\/3\/Flat6Labs-StartMashreq-PRL-EVF-For-Dispatch.docx.pdf\" style=\"\">(pdf)<\/a><\/span><span> yeste<\/span><span style=\"font-weight:400;\">rday. The program aims to support budding entrepreneurs from underprivileged and marginalized groups, including women and displaced people, through customized training programs and virtual incubation programs. The Dutch government and the International Finance Corporation are co-partnering with Flat6Labs on the initiative. <\/span><\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:700\">Rabbit goes bulk: <\/span><span style=\"\">Grocery delivery startup Rabbit has launched a bulk delivery service, <\/span><span>Gomla, it said in a <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/ent.news\/2023\/3\/Press-Release-Rabbit-Launches-Bulk-Business-Gomla.pdf\" style=\"\">statement<\/a><\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/ent.news\/2023\/3\/Press-Release-Rabbit-Launches-Bulk-Business-Gomla.pdf\" style=\"\">(pdf)<\/a><\/span><span style=\"font-weight:400;\">yesterday. The new service allows customers to buy in bulk through the Rabbit app and receive their products the following day. <\/span><\/p>\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/egyptian-general-petroleum-corporation\/\">Egyptian General Petroleum Corporation<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/energy\/\">energy<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/fawry\/\">Fawry<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/financial-regulatory-authority\/\">Financial Regulatory Authority<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/fintech\/\">Fintech<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/flat6labs\/\">Flat6Labs<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/oil-and-gas\/\">oil and gas<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/oil-ministry\/\">Oil Ministry<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" 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href=\"https:\/\/enterpriseam.com\/egypt\/tag\/tourism\/\">tourism<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                    <\/div>\n    <\/div>\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"582337\" 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=\"582337\">\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\/07\/another-eight-companies-could-list-in-abu-dhabi-this-year\/\">\r\n        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data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2023\/3\/ABU-DHABI-UAE-1600-1.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"ABU-DHABI-UAE-1600-1.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2023\/3\/ABU-DHABI-UAE-1600-1.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2023\/3\/ABU-DHABI-UAE-1600-1.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-582337\" class=\"content-area-description single-story post-582337 post type-post status-publish format-standard has-post-thumbnail hentry category-planet-finance tag-enterpriseam tag-financial-markets 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\/.adb4ca20-309a-4978-923f-8be7d0a1b6b4.mp3\"><\/audio><\/figure><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:400;\"><\/span><\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"\"><\/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\"> Abu Dhabi keen on IPOs to deepen local stock market:<\/span><span style=\"\"> At least eight \u201csizable\u201d <\/span><span>companies are expected to list on the Abu Dhabi stock exchange this year, according to <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/www.bloomberg.com\/news\/articles\/2023-03-03\/abu-dhabi-says-there-s-more-to-come-after-year-s-biggest-ipo?srnd=premium-middle-east&amp;leadSource=uverify%20wall\" style=\"\">Bloomberg<\/a><\/span><span>. The firms are from a range of sectors including tech, media, pharma and asset management, Sameh Al Qubaisi, the director-general of economic affairs at the <\/span><span style=\"font-weight:400;\">Abu Dhabi Economic Development Department, told the news outlet. <\/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 Emirate just closed the world\u2019s biggest IPO so far this year: <\/span><span style=\"\">Last month saw Adnoc <\/span><span>Gas <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/enterprise.press\/stories\/2023\/02\/28\/adnoc-ups-gas-unit-ipo-on-heavy-investor-demand-98162\/\" style=\"\">raise USD 2.5 bn<\/a><\/span><span> from its IPO which attracted sizable investor demand. Thi<\/span><span>s is almost half the amount<\/span><span style=\"font-weight:400;\"> raised by the five companies that went public in Abu Dhabi last year.<\/span><\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:700\">Abu Dhabi-based AI company G42 is considering at least six more IPOs<\/span><span style=\"\">, including <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/www.bloomberg.com\/news\/articles\/2023-03-06\/abu-dhabi-s-g42-seeks-495-million-from-presight-ai-listing\" style=\"\">G42<\/a><\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/www.bloomberg.com\/news\/articles\/2023-03-06\/abu-dhabi-s-g42-seeks-495-million-from-presight-ai-listing\" style=\"\">Healthcare Presight<\/a><\/span><span>, <\/span><span style=\"font-weight:400;\">Bloomberg said. The company raised USD 171 mn by listing its Bayanat AI arm in October.<\/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\">Libor surpasses 5% for the first time in 15 years:<\/span><span style=\"\"> The three-month Libor \u2014 a <\/span><span>major global benchmark interest rate at which banks lend one another \u2014 rose past 5% on Monday for the first time since December 2007 on expectations that the Federal Reserve will hike rates at a quicker pace and for a longer period than previously thought. (<\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/www.bloomberg.com\/news\/articles\/2023-03-06\/libor-cracks-5-for-first-time-since-07-spurred-by-fed-outlook?srnd=premium-middle-east\" style=\"\">Bloomberg<\/a><\/span><span style=\"font-weight:400;\">)<\/span><\/li>\n<li><span style=\"font-weight:700\">Big Oil is thinking short term: <\/span><span style=\"\">Investors in US oil companies received divid<\/span><span style=\"\">end<\/span><span style=\"\"> <\/span><span>payouts totaling USD 128 bn in 2022 \u2014 the highest in a decade \u2014 as oil producers chose to divvy up earnings from the bumper year rather than reinvest them in upstream assets. (<\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/www.bloomberg.com\/news\/articles\/2023-03-04\/oil-producers-hand-128-billion-to-investors-as-doubts-grow-about-future-of-fossil-fuels?srnd=premium-middle-east#xj4y7vzkg\" style=\"\">Bloomberg<\/a><\/span><span style=\"font-weight:400;\">)<\/span><\/li>\n<\/ul><p><a id=\"t.bbf37a25c89a89b398bfb3274053949a9f97f316\"><\/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:1.0;text-align:left\"><span style=\"font-weight:700\">EGX30 <\/span><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.0;text-align:left\"><span style=\"font-weight:400;\">16,804<\/span><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.0;text-align:left\"><span style=\"font-weight:400;\">-0.1% (YTD: +15.1%)<\/span><\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-up\">\n<td class=\"td-list-up\">\n<p><svg class=\"e-icon e-TypeMarkets11\"><use xlink:href=\"#e-TypeMarkets11\"><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.0;text-align:left\"><span style=\"font-weight:700\">USD (CBE)<\/span><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.0;text-align:left\"><span style=\"font-weight:400;\">Buy 30.73<\/span><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.0;text-align:left\"><span style=\"font-weight:400;\">Sell 30.84<\/span><\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-up\">\n<td class=\"td-list-up\">\n<p><svg class=\"e-icon e-TypeMarkets11\"><use xlink:href=\"#e-TypeMarkets11\"><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.0;text-align:left\"><span style=\"font-weight:700\">USD at CIB<\/span><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.0;text-align:left\"><span style=\"font-weight:400;\">Buy 30.73<\/span><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.0;text-align:left\"><span style=\"font-weight:400;\">Sell 30.83<\/span><\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-none\">\n<td class=\"td-list-none\">\n<p><svg class=\"e-icon e-TypeMarkets\"><use xlink:href=\"#e-TypeMarkets\"><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.0;text-align:left\"><span style=\"font-weight:700;\">Interest rates CBE<\/span><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.0;text-align:left\"><span style=\"font-weight:400;\">16.25% deposit<\/span><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.0;text-align:left\"><span style=\"font-weight:400;\">17.25% lending<\/span><\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-up\">\n<td class=\"td-list-up\">\n<p><svg class=\"e-icon e-TypeMarkets11\"><use xlink:href=\"#e-TypeMarkets11\"><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.0;text-align:left\"><span style=\"font-weight:700\">Tadawul<\/span><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.0;text-align:left\"><span style=\"font-weight:400;\">10,448<\/span><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.0;text-align:left\"><span style=\"font-weight:400;\">+0.4% (YTD: -0.3%)<\/span><\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-up\">\n<td class=\"td-list-up\">\n<p><svg class=\"e-icon e-TypeMarkets11\"><use xlink:href=\"#e-TypeMarkets11\"><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.0;text-align:left\"><span style=\"font-weight:700\">ADX<\/span><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.0;text-align:left\"><span style=\"font-weight:400;\">9,997<\/span><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.0;text-align:left\"><span style=\"font-weight:400;\">+0.9% (YTD: -2.1%)<\/span><\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-up\">\n<td class=\"td-list-up\">\n<p><svg class=\"e-icon e-TypeMarkets11\"><use xlink:href=\"#e-TypeMarkets11\"><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.0;text-align:left\"><span style=\"font-weight:700\">DFM<\/span><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.0;text-align:left\"><span style=\"font-weight:400;\">3,456<\/span><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.0;text-align:left\"><span style=\"font-weight:400;\">+1.1% (YTD: +3.6%)<\/span><\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-up\">\n<td class=\"td-list-up\">\n<p><svg class=\"e-icon e-TypeMarkets11\"><use xlink:href=\"#e-TypeMarkets11\"><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.0;text-align:left\"><span style=\"font-weight:700\">S&amp;P 500<\/span><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.0;text-align:left\"><span style=\"font-weight:400;\">4,048<\/span><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.0;text-align:left\"><span style=\"font-weight:400;\">+0.1% (YTD: +5.4%)<\/span><\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-down\">\n<td class=\"td-list-down\">\n<p><svg class=\"e-icon e-TypeMarkets1\"><use xlink:href=\"#e-TypeMarkets1\"><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.0;text-align:left\"><span style=\"font-weight:700\">FTSE 100<\/span><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.0;text-align:left\"><span style=\"font-weight:400;\">7,930<\/span><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.0;text-align:left\"><span style=\"font-weight:400;\">-0.2% (YTD: +6.4%)<\/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:1.0;text-align:left\"><span style=\"font-weight:700;\">Euro Stoxx 50<\/span><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.0;text-align:left\"><span style=\"font-weight:400;\">4,314<\/span><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.0;text-align:left\"><span style=\"font-weight:400;\">+0.4% (YTD: +13.7%)<\/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:1.0;text-align:left\"><span style=\"font-weight:700\">Brent crude<\/span><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.0;text-align:left\"><span style=\"font-weight:400;\">USD 86.26<\/span><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.0;text-align:left\"><span style=\"font-weight:400;\">+0.5%<\/span><\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-down\">\n<td class=\"td-list-down\">\n<p><svg class=\"e-icon e-TypeMarkets1\"><use xlink:href=\"#e-TypeMarkets1\"><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.0;text-align:left\"><span style=\"font-weight:700\">Natural gas <\/span><span style=\"font-weight:400;\">(Nymex)<\/span><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.0;text-align:left\"><span style=\"font-weight:400;\">USD 2.60<\/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:1.0;text-align:left\"><span style=\"font-weight:400;\">-13.5%<\/span><\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-down\">\n<td class=\"td-list-down\">\n<p><svg class=\"e-icon e-TypeMarkets1\"><use xlink:href=\"#e-TypeMarkets1\"><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.0;text-align:left\"><span style=\"font-weight:700;\">Gold<\/span><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.0;text-align:left\"><span style=\"font-weight:400;\">USD 1,852.60        <\/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:1.0;text-align:left\"><span style=\"font-weight:400;\">-0.1%<\/span><\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-down\">\n<td class=\"td-list-down\">\n<p><svg class=\"e-icon e-TypeMarkets1\"><use xlink:href=\"#e-TypeMarkets1\"><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.0;text-align:left\"><span style=\"font-weight:700\">BTC<\/span><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.0;text-align:left\"><span style=\"font-weight:400;\">USD 22,405<\/span><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.0;text-align:left\"><span style=\"font-weight:400;\">-0.4% (YTD: +35.3%)<\/span><\/p>\n<\/td>\n<\/tr>\n<\/table>\n<\/div><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:700;\">THE CLOSING BELL-<\/span><\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:700\">The EGX30 fell 0.1% at yesterday\u2019s close<\/span><span style=\"\"> on turnover of EGP 1.9 bn (6.5% below the 90-day <\/span><span style=\"font-weight:400;\">average). Local investors were net buyers. The index is up 15.1% YTD. <\/span><\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:700\">In the green: <\/span><span style=\"font-weight:400;\">Elsewedy Electric (+2.4%), Juhayna (+1.5%) and Heliopolis Housing and Development (+1.2%).<\/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>Telecom Egypt (-3.7%), Egypt-Kuwait Holding (-2.5%) and Mopco (-2.2%).<\/span><\/p>\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/financial-markets\/\">Financial Markets<\/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=\"582339\" 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=\"582339\">\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\">AROUND THE WORLD<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2023\/03\/07\/saudi-arabia-hands-turkey-usd-5-bn-to-support-economy\/\">\r\n                            Saudi Arabia hands Turkey USD 5 bn to support economy                        <\/a>\r\n                    <\/h3>\r\n\r\n                    \r\n\t\t\t\t\t\n<div class=\"cta\">\n    <div 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<\/div>\r\n\r\n            \r\n            <div class=\"story__body\">\r\n\r\n                <a href=\"https:\/\/enterpriseam.com\/egypt\/2023\/03\/07\/saudi-arabia-hands-turkey-usd-5-bn-to-support-economy\/\">\r\n                    <div class=\"photo photo--above\">\r\n                        <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2023\/3\/Turkish-President-Tayyip-Erdogan-in-Bursa-1600-1.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"582340\" data-permalink=\"https:\/\/enterpriseam.com\/egypt\/2023\/03\/07\/saudi-arabia-hands-turkey-usd-5-bn-to-support-economy\/turkish-president-tayyip-erdogan-in-bursa-1600-1-jpg\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2023\/3\/Turkish-President-Tayyip-Erdogan-in-Bursa-1600-1.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"Turkish-President-Tayyip-Erdogan-in-Bursa-1600-1.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2023\/3\/Turkish-President-Tayyip-Erdogan-in-Bursa-1600-1.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2023\/3\/Turkish-President-Tayyip-Erdogan-in-Bursa-1600-1.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-582339\" class=\"content-area-description single-story post-582339 post type-post status-publish format-standard has-post-thumbnail hentry category-around-the-world tag-enterpriseam tag-kuwait tag-lebanon tag-saudi-arabia tag-turkey 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\/.adb4ca20-309a-4978-923f-8be7d0a1b6b4.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\">Turkey is getting help from Riyadh:<\/span><span style=\"\"> Saudi Arabia will deposit USD 5 bn in Turkey\u2019s <\/span><span>central bank via the Saudi Fund for Development (SFD) to shore up its economy, the fund said in <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/www.sfd.gov.sa\/en\/news\/kingdom-saudi-arabia-makes-5-billion-deposit-central-bank-turkey-through-saudi-fund\" style=\"\">a statement<\/a><\/span><span> yesterday. The agreement, which <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/www.bloomberg.com\/news\/articles\/2022-12-07\/saudi-arabia-to-support-pakistan-eyes-deals-in-egypt-and-turkey?leadSource=uverify%20wall\" style=\"\">was floated by Saudi finance minister Mohamed Jadaan<\/a><\/span><span style=\"font-weight:400;\"> in December, was signed by SFD chairman Ahmed Al Khateeb and Turkish central bank governor Sahap Kavcioglu.<\/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\">SFD?<\/span><span style=\"\"> The SFD is a <\/span><span style=\"font-weight:400;\">state-owned agency that provides aid to developing countries.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:700\">Another sign of rapprochement:<\/span><span style=\"\"> The two countries have been moving in recent months to <\/span><span>mend relations that broke down following the murder of Jamal Khashoggi in Istanbul in 2018. Erdogan and Mohamed bin Salman both <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/www.reuters.com\/world\/middle-east\/saudi-crown-prince-erdogan-meet-turkey-with-full-normalisation-sights-2022-06-22\/\" style=\"\">traveled<\/a><\/span><span style=\"font-weight:400;\"> to each other's countries last year in a bid to normalize ties.<\/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\">Lebanon turns to dollarization as currency plummets: <\/span><span style=\"\">Lebanese businesses are <\/span><span>demanding to be paid in greenbacks to cope with the faltering LBP \u2014 which has lost more than 95% of its value since late 2019 \u2014 sparking concerns of widening economic equality between those with and without access to hard currency, the <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/apnews.com\/article\/lebanon-economy-crisis-currency-pound-dollarization-44f8173d75d2e1a37526b3e1252c5a92?utm_source=homepage&utm_medium=TopNews&utm_campaign=position_10\" style=\"\">Associated Press<\/a><\/span><span> reports.<\/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\">Kuwait reappoints PM: <\/span><span style=\"\">Sheikh Ahmad Nawaf Al Sabah has been reappointed Kuwait\u2019s <\/span><span>prime minister by Crown Prince Meshal Al Ahmad Al Sabah, state news agency <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/www.kuna.net.kw\/ArticleDetails.aspx?id=3083305&Language=ar\" style=\"\">KUNA<\/a><\/span><span> reported. The PM had resigned in January amid a standoff between Kuwait\u2019s government and parliament that has blocked fiscal reforms, according to <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/www.reuters.com\/world\/middle-east\/kuwait-pm-submits-resignation-cabinet-state-news-agency-2023-01-23\/\" style=\"\">Reuters<\/a><\/span><span>. <\/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\/kuwait\/\">Kuwait<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/lebanon\/\">Lebanon<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/saudi-arabia\/\">Saudi Arabia<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/turkey\/\">Turkey<\/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<div class=\"alignfull vertical-section wide-section going-green wp-block-group issue-section\" id=\"582341\">\r\n    <div class=\"issue-section__content\">\r\n        <div class=\"alignwide wp-block-columns\">\r\n            <div class=\"wp-block-column sidebar-vertical-info\" style=\"flex-basis:22.8%\">\r\n                <figure class=\"wp-block-image size-full\">\r\n                                            <img decoding=\"async\" src=\"https:\/\/s3.amazonaws.com\/resources.inktankir.com\/internal\/27465.svg\" style=\"width:80%\" alt=\"\" >\r\n                                    <\/figure>\r\n                <p>\r\n                    Our weekly deep dive into the green economy and ESG issue in Egypt.                <\/p>\r\n                <figure class=\"wp-block-image size-full mt-0 mb-0 img-white-bg\"><img data-recalc-dims=\"1\" decoding=\"async\" src=\"https:\/\/i0.wp.com\/s3.amazonaws.com\/resources.inktankir.com\/internal\/27483.png?ssl=1\" alt=\"\"><\/figure>\r\n                <p class=\"has-text-color has-link-color\">\r\n                    Published every Tuesday in EnterpriseAM.                <\/p>\r\n                <div class=\"wp-block-buttons mt-0\">\r\n                    <div class=\"wp-block-button\">\r\n                        <a class=\"wp-block-button__link has-background wp-element-button\" href=\"https:\/\/enterpriseam.com\/egypt\/goinggreen\/\">\r\n                            Read going Green                        <\/a>\r\n                    <\/div>\r\n                <\/div>\r\n            <\/div>\r\n            <div class=\"wp-block-column issue-section\">\r\n                <div class=\"story-section\">\r\n                    <div class=\"issue-story-header text-center\">\r\n                        <div class=\"index-number\">11<\/div>\r\n\r\n                        <p class=\"f-graphik\">Going Green<\/p>\r\n                        <h3 class=\"story-title\"><a href=\"https:\/\/enterpriseam.com\/egypt\/goinggreens\/want-to-buy-an-ev-here-are-the-options\/\">\r\n                            Want to buy an EV? Here are the options<\/a>\r\n                        <\/h3>\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\/goinggreens\/want-to-buy-an-ev-here-are-the-options\/\" 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\/goinggreens\/want-to-buy-an-ev-here-are-the-options\/')\">\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\/goinggreens\/want-to-buy-an-ev-here-are-the-options\/\">\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=Want to buy an EV? Here are the options&url=https:\/\/enterpriseam.com\/egypt\/goinggreens\/want-to-buy-an-ev-here-are-the-options\/\">\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\/goinggreens\/want-to-buy-an-ev-here-are-the-options\/&title=Want to buy an EV? Here are the options\">\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=Want+to+buy+an+EV%3F+Here+are+the+options+https%3A%2F%2Fenterpriseam.com%2Fegypt%2Fgoinggreens%2Fwant-to-buy-an-ev-here-are-the-options%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>                    <\/div>\r\n\r\n                    <div class=\"story__body\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/goinggreens\/want-to-buy-an-ev-here-are-the-options\/\">\r\n                            <div class=\"photo photo--above\">\r\n                                <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2023\/3\/EV-Charging-1600.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" sizes=\"(max-width: 34.9rem) calc(100vw - 2rem), (max-width: 53rem) calc(8 * (100vw \/ 12)), (min-width: 53rem) calc(6 * (100vw \/ 12)), 100vw\" data-attachment-id=\"582342\" data-permalink=\"https:\/\/enterpriseam.com\/egypt\/goinggreens\/want-to-buy-an-ev-here-are-the-options\/ev-charging-1600-jpg\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2023\/3\/EV-Charging-1600.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"EV-Charging-1600.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2023\/3\/EV-Charging-1600.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2023\/3\/EV-Charging-1600.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                            <\/div>\r\n                        <\/a>\r\n                        \n<article id=\"post-582341\" class=\"content-area-description post-582341 goinggreen type-goinggreen status-publish has-post-thumbnail hentry category-going-green tag-automotive tag-enterprise-going-green tag-enterpriseam tag-evs 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><\/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\">Want to buy an EV? <\/span><span style=\"\">The electric vehicle industry in Egypt is still nascent \u2014 but <\/span><span style=\"font-weight:400;\">options are available if you want to buy a new EV today. Price tags are relatively high, maintenance and repairs can be a challenge, and charging infrastructure is spotty right now. But between the rapid global transition to EVs, a government-led drive to localize the industry and get the needed infrastructure in place, and rising demand among a certain segment of the population, the market is set to boom by the end of this decade. Here\u2019s your guide to which models are currently available, how much they\u2019ll set you back \u2014 and some points to consider before you decide to make the switch. <\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:700\">There are already a handful of EVs on our roads: <\/span><span style=\"\">Almost 1.8k electric vehicles are licensed <\/span><span>in Egypt, according to figures from the Egyptian Compulsory Motor Insurance Pool (ECIP) seen by Enterprise. <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/www.volkswagen-newsroom.com\/en\/id-family-5002\" style=\"\">Volkswagen\u2019s ID line<\/a><\/span><span> has been the most popular so far among Egyptian consumers, with licenses <\/span><span>issued for about 336 vehicles between July 2021 and January 2023. Some 96 Tesla vehicles, 46 electric BMWs and 26 Porsche Models were licensed over the same period. <\/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\">These purchases have mostly come through private imports: <\/span><span style=\"\">\u201cThe majority of sales have <\/span><span>come through private or dealership-facilitated imports,\u201d Tamer Kotb, commercial director at Abou Ghaly Motors, tells us. \u201cOnly a small fraction of the EVs available in the market have come through authorized agents with agreements with EV manufacturers.\u201d <\/span><span style=\"font-weight:700;\">Remember: EVs enter the country with zero customs duties. <\/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\">EVs aren\u2019t the easiest to maintain and repair right now: <\/span><span style=\"\">Those who can afford an EV may <\/span><span style=\"font-weight:400;\">have cause to hesitate over maintenance and repair challenges, Kotb says. \u201cPeople buying imported EVs through private or dealership facilitated imports will have to import spare parts if anything goes wrong and don\u2019t have the benefit of technical support or warranty \u2014 which makes buying an EV a little risky,\u201d Kotb tells us<\/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\">Though an electric model could bring savings on maintenance down the road: <\/span><span style=\"\">\u201cOver the long term <\/span><span style=\"font-weight:400;\">there are a lot of savings from purchasing an EV. Maintenance and repair costs are 80-90% of your ordinary fossil-fuel powered car. There aren't as many components that break or require replacing so the total ownership cost is lower than a regular car over an eight or nine year period,\u201d Kotb says. <\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:700\">Infrastructure is still a work in progress: <\/span><span style=\"\">Our friends at renewable energy player Infinity<\/span><span> have built at least 190 charging stations so far nationwide,according to an <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/electrifiedev.com\/Map\" style=\"\">interactive map<\/a><\/span><span> from local player Electrified. The company is planning to up the number of its charging stations to <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/enterprise.press\/stories\/2022\/10\/27\/infinity-units-eye-new-wind-and-ev-projects-85248\/\" style=\"\">300 by 2024<\/a><\/span><span>, part of a plan with the government to eventually set up <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/enterprise.press\/stories\/2021\/06\/21\/tuk-tuk-owners-should-be-able-to-swap-their-vehicles-for-natgas-microbuses-next-month-we-have-a-price-tag-for-evs-infrastructure-45578\/\" style=\"\">3k stations across the country.<\/a><\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:700\">You\u2019ll likely want to invest in a home charging station:<\/span><span style=\"\"> Even if you happen to have an EV <\/span><span>charging station close to home, it's best to invest in a home charging station, Kotb says. A home charging station will use AC, or alternating current \u2014 the stuff that is transmitted through the national grid and comes out of your wall socket. While slower than the alternative \u2014 DC, or direct current \u2014 <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/enterprise.press\/stories\/2022\/06\/21\/infinity-will-start-implementing-ev-charging-tariffs-next-week-74323\/\" style=\"\">AC is cheaper<\/a><\/span><span style=\"font-weight:400;\">. AC charging also avoids depleting your EV battery\u2019s health, Kotb told us. <\/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 home charging station costs roughly EGP 29k - 38k to buy and install<\/span><span style=\"\">, a representative <\/span><span style=\"font-weight:400;\">at EV car dealership El Eman told us. You\u2019ll also need a cable, which runs at around EGP 6k. <\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:700\">You folks say you\u2019re eager to make the switch: <\/span><span style=\"\">Some 90% of respondents to our <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/enterprise.press\/greeneconomys\/interest-in-electric-vehicles-is-slowly-but-surely-picking-up-in-egypt\/\" style=\"\">Enterprise<\/a><\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/enterprise.press\/greeneconomys\/interest-in-electric-vehicles-is-slowly-but-surely-picking-up-in-egypt\/\" style=\"\">EV survey late last year<\/a><\/span><span style=\"font-weight:400;\"> said they\u2019re planning to buy an EV within the next 10 years \u2014 and one in five respondents said they\u2019ll make a purchase in the next 12 months. Only 3% of those we surveyed already own an EV. <\/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\">EVs could be your only option as soon as 2030: <\/span><span style=\"\">\u201cIf we look at 2030, almost all automotive <\/span><span style=\"font-weight:400;\">manufacturers will exclusively be making EVs,\u201d Kotb says. \u201cSo for a country like Egypt that relies on imports to meet demand for new cars, the transition is inevitable. People looking to buy new cars in about seven years from now will likely not be able to find any new models that aren\u2019t electric.\u201d <\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:700\">But it could be worth waiting until local assembly kicks off:<\/span><span style=\"\"> Locally assembled vehicles \u2014 <\/span><span>some of which could be sold at around EGP 300-350k, our sources tell us \u2014 will be crucial for EV adoption to really take off in Egypt, since imported EVs currently remain far <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/enterprise.press\/stories\/2023\/02\/16\/so-you-want-to-buy-a-new-car-do-you-have-any-options-at-all-right-now-heres-the-state-of-play-as-of-february-2023-97237\/\" style=\"\">more expensive<\/a><\/span><span> than their fossil-fuel guzzling counterparts. Our first locally manufactured EVs could roll off production lines soon as the government works on incentives to localize the industry as part of its hotly anticipated <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/enterprise.press\/stories\/2023\/02\/16\/big-steps-forward-for-our-national-automotive-strategy-97061\/\" style=\"\">automotive strategy<\/a><\/span><span style=\"font-weight:400;\">. Several companies have recently announced plans to start local production:<\/span><\/p>\n<ul>\n<li><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/enterprise.press\/stories\/2023\/02\/23\/stellantis-nissan-and-mansour-could-invest-usd-145-mn-in-local-assembly-97679\/\" style=\"\">Stellantis, Nissan, and Al Mansour Automotive<\/a><\/span><span style=\"font-weight:400;\"> could invest a total of USD 145 mn to assemble traditional and electric vehicles in Egypt over the next three years under the automotive strategy;<\/span><\/li>\n<li><span>Abou Ghaly<\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/enterprise.press\/stories\/2023\/02\/12\/abou-ghaly-brings-a-geely-ev-to-the-local-market-with-payment-in-fx-looks-to-use-egypt-as-a-hub-to-sell-evs-into-africa-96497\/\" style=\"\">plans to start<\/a><\/span><span style=\"font-weight:400;\"> locally assembling Geely EVs at some point this year. <\/span><\/li>\n<li><span>Al Mansour Auto and GM are <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/enterprise.press\/stories\/2022\/11\/13\/al-mansour-gm-launch-cadillac-ev-in-egypt-al-mansour-plans-to-assemble-evs-here-86887\/\" style=\"\">looking to locally assemble<\/a><\/span><span style=\"font-weight:400;\"> up to 15k EVs in Egypt over the next three years;<\/span><\/li>\n<li><span>El Nasr Automotive has ambitions to <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/enterprise.press\/stories\/2022\/01\/12\/egypt-to-see-its-first-locally-assembled-ev-in-2023-62537\/\" style=\"\">begin assembling EVs this year<\/a><\/span><span style=\"font-weight:400;\"> but is yet to find a foreign partner to help produce them;<\/span><\/li>\n<li><span>The <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/enterprise.press\/stories\/2023\/02\/22\/the-aast-is-promising-ultra-cheap-locally-assembled-evs-97583\/\" style=\"\">Arab Academy for Science, Technology and Maritime Transport<\/a><\/span><span style=\"font-weight:400;\"> has said it wants to produce ultra-cheap EVs. <\/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\">Can\u2019t wait? <\/span><span style=\"\">We spoke to a number of dealerships to find out just how much the currently <\/span><span style=\"font-weight:400;\">available stock of EVs will set you back:<\/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\">GEELY:<\/span><\/p>\n<ul>\n<li><span style=\"font-weight:400;\">Geometry C (400 km range) \u2014 USD 36 - 37k<\/span><\/li>\n<li><span style=\"font-weight:400;\">Geometry C (550 km range) \u2014 USD 39.9 - 40k<\/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\">ZOTYE<\/span><span style=\"font-weight:400;\">:<\/span><\/p>\n<ul>\n<li><span style=\"font-weight:400;\">E200 \u2014 EGP 335k<\/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\">BYD:<\/span><\/p>\n<ul>\n<li><span style=\"font-weight:400;\">HAN \u2014 EGP 1.3 - 2.0 mn (depending on trim)<\/span><\/li>\n<li><span style=\"font-weight:400;\">QIN \u2014 EGP 950k - 1.3 mn (depending on trim)<\/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\">VOLKSWAGEN:<\/span><\/p>\n<ul>\n<li><span style=\"font-weight:400;\">ID.3 Pure \u2014 EGP 1.0 - 1.1  mn<\/span><\/li>\n<li><span style=\"font-weight:400;\">ID.4 Pure \u2014 EGP 1.2 - 1.6 mn<\/span><\/li>\n<li><span style=\"font-weight:400;\">ID.6 X \u2014 EGP 1.4 - 1.7 mn<\/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\">TOYOTA:<\/span><\/p>\n<ul>\n<li><span style=\"font-weight:400;\">C-HR (EV) \u2014 EGP 1.2 mn<\/span><\/li>\n<li><span style=\"font-weight:400;\">IZOA \u2014 EGP 1.1 mn<\/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\">CHEVROLET:<\/span><\/p>\n<ul>\n<li><span style=\"font-weight:400;\">Menlo \u2014 EGP 925k - 1.2 mn<\/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;\">AUDI:<\/span><\/p>\n<ul>\n<li><span>Q5 e-tron \u2014 EGP 2.3 - 2.6 mn<\/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\">TESLA:<\/span><\/p>\n<ul>\n<li><span style=\"font-weight:400;\">Model Y \u2014 EGP 2.3 - 2.8 mn<\/span><\/li>\n<li><span>Model 3 \u2014 EGP 2.0 - 2.7 mn<\/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:400;\"><\/p>\n<hr style=\"height:2px;border-width:0;color:gray;background-color:gray\">\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:700;\">Your top green economy stories for the week:<\/span><\/p>\n<ul>\n<li><span style=\"font-weight:700\">Egypt x <\/span><span style=\"-webkit-text-decoration-skip:none;font-weight:700;text-decoration-skip-ink:none\"><a href=\"https:\/\/cipartners.dk\/\" style=\"\">Copenhagen Infrastructure Partners<\/a><\/span><span style=\"font-weight:700\">: <\/span><span style=\"\">Representatives from the Danish <\/span><span>infrastructure investor met <\/span><span>Planning Minister Hala El Saeed to discuss green investment opportunities in Egypt. <\/span><span>(<\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/www.facebook.com\/EgyptianCabinet\/posts\/pfbid02tbaNaGVseGhJSEqjPkGFyyUGKAp5LbAGby385DwaZ2BPmEp2XrAKZHG1cQievmoxl\" style=\"\">Statement<\/a><\/span><span style=\"font-weight:400;\">)<\/span><\/li>\n<li><span style=\"\">T<\/span><span style=\"font-weight:700\">he Electricity Ministry received a nearly completed draft of the <\/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\/this-morning-shoukry-in-india-for-g-20-foreign-ministers-meeting-98363\/\" style=\"\">national hydrogen<\/a><\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;font-weight:700;\"><a href=\"https:\/\/enterprise.press\/stories\/2023\/03\/02\/this-morning-shoukry-in-india-for-g-20-foreign-ministers-meeting-98363\/\" style=\"\">strategy<\/a><\/span><span style=\"font-weight:700\"> <\/span><span style=\"font-weight:700\">and is working to complete it<\/span><span style=\"font-weight:400;\">. The government is aiming to publish the strategy before the beginning of Ramadan at the end of March, sources told us last month. <\/span><\/li>\n<li><span style=\"font-weight:700\">A fresh World Bank grant to tackle waste:<\/span><span style=\"\"> The World Bank will grant the <\/span><span>government\u2019s Greater Cairo pollution reduction project <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/enterprise.press\/stories\/2023\/03\/06\/chinese-investors-are-looking-at-the-sokhna-industrial-zone-plus-jordan-electricity-link-another-sawiris-football-acquisition-and-more-98734\/\" style=\"\">a USD 9.1 mn grant<\/a><\/span><span style=\"font-weight:400;\"> to improve the management of e-waste and healthcare waste disposal systems.<\/span><\/li>\n<\/ul>\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/automotive\/\">automotive<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/evs\/\">EVs<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                    <\/div>\n    <\/div>\n\r\n                    <\/div>\r\n                <\/div>\r\n            <\/div>\r\n            <div class=\"wp-block-column\" style=\"flex-basis:19.8%\"><\/div>\r\n        <\/div>\r\n    <\/div>\r\n<\/div>\n<section id=\"582343\" 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\/07\/582343\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-582343\" class=\"content-area-description single-story post-582343 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 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>7-9 March (Tuesday-Thursday): Armenia foreign minister diplomatic visit.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span>11-12 March (Saturday-Sunday): <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/cairo.technesummit.com\/2023\" style=\"\">Techne Summit<\/a><\/span><span style=\"font-weight:400;\">, 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=\"\">16-18 March (Thursday-Saturday): <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/www.ticketsmarche.com\/riseup-summit-23_se_2465.html?fbclid=IwAR312SZzMd0g9-vywblOng4YU1gSQzBbWA_evrtgm8qbSpjMGbPFicQugno\" style=\"\">RiseUp Summit<\/a><\/span><span style=\"font-weight:400;\">, Grand Egyptian Museum, Giza. <\/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>26 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>27-29 March (Monday-Wednesday): The first meeting of the COP transitional committee, focusing on adaptation, and loss and damage. <\/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;\">April: SCZone roadshow in China.<\/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>30 April (Sunday): <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/enterprise.press\/stories\/2023\/01\/18\/tenth-of-ramadan-dry-port-tender-pushed-as-bidders-adapt-to-floating-egp-93853\/\" style=\"\">Tenth of Ramadan dry port<\/a><\/span><span style=\"font-weight:400;\"> tender deadline.<\/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>15 June (Thursday): Deadline for bids in EGPC\u2019s mature oil fields tender.<\/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\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":"<p>Reports suggest the government could also sell 10% of TE to investors.<\/p>\n","protected":false},"featured_media":582316,"menu_order":0,"template":"","categories":[],"tags":[],"class_list":["post-582315","issue","type-issue","status-publish","has-post-thumbnail","hentry","wpautop","entry"],"acf":{"mongo_id":"91f47f90-8de4-46b9-b7e6-f2047c06a950","teaser":"Reports suggest the government could also sell 10% of TE to investors.","photo_url":"https:\/\/ent.news\/2023\/2\/173.jpg"},"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v27.1 (Yoast SEO v27.1.1) - https:\/\/yoast.com\/product\/yoast-seo-premium-wordpress\/ -->\n<title>Sovereign fund to sell stakes in 2-3 state companies in April - EnterpriseAM Egypt<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/enterpriseam.com\/egypt\/issues\/sovereign-fund-to-sell-stakes-in-2-3-state-companies-in-april\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" 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