{"id":583638,"date":"2023-03-19T00:00:00","date_gmt":"2023-03-19T00:00:00","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/?post_type=issue&#038;p=583638"},"modified":"2025-12-16T13:37:36","modified_gmt":"2025-12-16T13:37:36","slug":"elab-first-up-for-sale-via-sfes-pre-ipo-fund-soliman","status":"publish","type":"issue","link":"https:\/\/enterpriseam.com\/egypt\/issues\/elab-first-up-for-sale-via-sfes-pre-ipo-fund-soliman\/","title":{"rendered":"Elab first up for sale via SFE\u2019s pre-IPO fund -Soliman"},"content":{"rendered":"<section id=\"583640\" 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=\"583640\">\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\/19\/this-morning-well-do-whatever-it-takes-to-secure-saudi-investment-maait\/\">\r\n                            Egypt\u2019s finance minister vows to do whatever it takes to secure investment from Saudi Arabia                        <\/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\/19\/this-morning-well-do-whatever-it-takes-to-secure-saudi-investment-maait\/\" 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class=\"photo photo--above\">\r\n                        <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2022\/6\/Maait-Bloomberg-recession-warning-1600px.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"583641\" data-permalink=\"https:\/\/enterpriseam.com\/egypt\/2023\/03\/19\/this-morning-well-do-whatever-it-takes-to-secure-saudi-investment-maait\/maait-bloomberg-recession-warning-1600px-jpg\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2022\/6\/Maait-Bloomberg-recession-warning-1600px.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"Maait-Bloomberg-recession-warning-1600px.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2022\/6\/Maait-Bloomberg-recession-warning-1600px.jpg?fit=300%2C300&amp;ssl=1\" 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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\/.9448be92-7dfc-4cbd-8821-bc96e56ef7d2.mp3\"><\/audio><\/figure><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:700\">Good morning, friends, and welcome to the last workweek before Ramadan. <\/span><span style=\"font-weight:400;\">We hope you had a wonderful weekend. <\/span><\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:700\">The tone this morning: A bit of optimism amid a flood of investment and privatization news<\/span><span style=\"font-weight:400;\">, as the tl;dr stack above suggests. The investment news centers on logistics, infrastructure and manufacturing \u2014 all themes we love to see.<\/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 #1- Fresh Saudi investment \u2014 whatever it takes: <\/span><span style=\"\">Egypt is \u201ckeen to <\/span><span>support everything that is required to increase Saudi investments,\u201d Finance Minister Mohamed Maait said in a <\/span><span>statement<\/span><span>picked up by <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/www.bloomberg.com\/news\/articles\/2023-03-17\/egypt-to-provide-everything-required-to-ensure-saudi-funding#xj4y7vzkg\" style=\"\">Bloomberg<\/a><\/span><span>. The statement came after Maait attended last week a <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/enterprise.press\/stories\/2023\/03\/16\/govt-to-start-marketing-state-companies-to-investors-in-april-says-maait-100336\/\" style=\"\">financial conference in Riyadh<\/a><\/span><span> where he met with his Saudi counterpart Mohammed Al Jadaan, according to the business information service outlet. Maait also met with a group of <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/bit.ly\/3JQSuF0\" style=\"\">Saudi investors<\/a><\/span><span style=\"font-weight:400;\"> who expressed interest in increasing investments in Egypt; they also want to see additional protections against double taxation between the two 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\">Resolving <\/span><span style=\"font-weight:700\">the United Bank impasse? <\/span><span style=\"\">Maait\u2019s comments come in the wake of reports that <\/span><span>talks between the two sides regarding the sale of United Bank had ground to a halt due to disagreements about the lender\u2019s valuation. Saudi\u2019s Public Investment Fund (PIF)<\/span><span> opened talks to acquire United Bank <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/enterprise.press\/stories\/2022\/05\/23\/pif-eyes-united-bank-amid-state-privatization-push-71525\/\" style=\"\">last year<\/a><\/span><span>, but PIF want to agree on a <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/enterprise.press\/stories\/2023\/02\/23\/valuation-dispute-puts-saudi-united-bank-acquisition-at-risk-97677\/\" style=\"\">valuation in local-currency<\/a><\/span><span> terms, with the USD amount payable determined at the time of the transaction according to the exchange rate at the time of execution. The Central Bank of Egypt, which owns 99.9% of the bank, has <\/span><span style=\"\">reportedly<\/span><span style=\"font-weight:400;\"> insisted on a USD-based valuation from the beginning. Reports suggest the bank was valued at something in the USD 600 mn range.<\/span><\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:700\">Riyadh is yet to pull the trigger on its pledge last year to invest bns of USD:<\/span><span style=\"\"> Saudi Arabia <\/span><span>has so far invested <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/enterprise.press\/stories\/2022\/08\/11\/the-saudis-have-arrived-77636\/\" style=\"\">USD 1.3 bn<\/a><\/span><span> in listed state-owned companies, a fraction of the USD 10 bn it originally pledged to support the economy through the crisis triggered by the war in Ukraine. Al Jadaan <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/www.bloomberg.com\/news\/articles\/2023-01-18\/saudi-arabia-says-days-of-unconditional-foreign-aid-are-now-over\" style=\"\">in January said<\/a><\/span><span style=\"font-weight:400;\"> future financial support to countries would no longer be given unconditionally and would come with strings attached.<\/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 #2- Could 40 soon be the new 30?<\/span><span style=\"\"> <span id=\"wwtt5\" style=\"font-weight: inherit;\">Pressure is continuing to mount on the EGP in the offshore markets<\/span>, with derivative contracts widening further from the official rate at the end of last week, according to <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/bit.ly\/3JpoCOt\" style=\"\">Al Arabiya<\/a><\/span><span>. Twelve-month n<\/span><span style=\"font-weight:400;\">on-deliverable forwards (NDFs) \u2014 contracts used to forecast the value of the currency over the next 12 months \u2014 rose to a record 39.19 on Thursday, while in the parallel market the USD rate rose to between 34.5-35.55. In the credit markets, the spread on the cost of insuring the country\u2019s debt rose to almost 1500 bps \u2014 the second-highest level on record, according to 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\">EGP WATCH- <\/span><span style=\"\">The official EGP-USD rate continued to hover below the 31.00 mark, and has <\/span><span style=\"font-weight:400;\">remained unchanged at 30.96 since 9 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;\">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\"><span id=\"wwtt1\" style=\"font-weight: inherit;\">The Finance Ministry\u2019s two-day Public-Private Partnerships MENA Forum starts today<\/span><\/span><span style=\"\"> at <\/span><span>the Nile Ritz-Carlton. The forum will gather local, regional, and international leaders and PPP specialists. Topics will include PPP policies, regulatory frameworks, and long-term financing for national projects, according to <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/www.facebook.com\/EgyptianCabinet\/posts\/pfbid0LS45tdmmDecAWzTehsB8VVokxhu5QyfU2PPUs9nrkbd9CMLg67F6kQE54w4hP21Tl\" style=\"\">the Finance Ministry<\/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\">Another US official is in town: <\/span><span style=\"\">Assistant Secretary of State for Near Eastern Affairs <\/span><span>Barbara Leaf is on a three-day trip to Egypt as part of a wider regional tour that will see her travel to Lebanon and Tunisia, the US embassy in Cairo <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/eg.usembassy.gov\/assistant-secretary-leafs-travel-to-jordan-egypt-lebanon-and-tunisia\/\" style=\"\">said<\/a><\/span><span style=\"font-weight:400;\">. Leaf kicked off her trip on Wednesday with Jordan before landing in Egypt yesterday. <\/span><\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"\"><span id=\"wwtt2\" style=\"font-weight: inherit;\">Israel-Palestine summit to take place in Sharm El Sheikh today<\/span>: <\/span><span>Palestinian and Israeli officials <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/twitter.com\/HusseinSheikhpl\/status\/1636968709288861698?s=20\" style=\"\">are meeting in Sharm El Sheikh today<\/a><\/span><span> as part of a five-party <\/span><span>meeting with Egyptian, Jordanian and US officials. This is the second such meeting in recent weeks: A pact made in Jordan last month did little to calm tensions in the West Bank, with members of the Israeli government almost immediately <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/enterprise.press\/stories\/2023\/02\/27\/netanyahu-pledges-to-continue-settlement-expansion-following-palestine-talks-98044\/\" style=\"\">walking back on the agreement<\/a><\/span><span> and Israeli settlers <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/enterprise.press\/stories\/2023\/03\/05\/shoukry-attends-g-20-meeting-dominated-by-ukraine-war-tensions-98576\/\" style=\"\">attacking a Palestinian village<\/a><\/span><span style=\"font-weight:400;\"> after two Israelis were shot by Palestinian gunmen.<\/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 already off to a not-so-great start:<\/span><span style=\"\"> Palestinian militants fired a rocket into southern Israel <\/span><span>yesterday evening, the Israeli military said, according to <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/apnews.com\/article\/israel-palestinians-gaza-hamas-rocket-attack-west-bank-escalation-760e2e18b19297e9bf23045154b0219a\" style=\"\">the Associated Press<\/a><\/span><span style=\"font-weight:400;\">. There were no casualties, but the attack raises the possibility of a fresh spate of violence between the two sides just days before the start of Ramadan.<\/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 House is back in session today after a three-week break. Here\u2019s what\u2019s on the <\/span><span style=\"font-weight:700\">agenda:<\/span><span> <span id=\"wwtt3\" style=\"font-weight: inherit;\">MPs will today discuss and vote on the new round of wage and pension hikes<\/span>, which <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/enterprise.press\/stories\/2023\/03\/16\/egypt-could-welcome-a-record-15-mn-tourists-this-year-eissa-plus-more-wheat-social-protection-measures-100349\/\" style=\"\">were approved<\/a><\/span><span> by the House Manpower Committee last week. The measures were <\/span><span>announced earlier this month and come as the government tries to mitigate the impact of soaring inflation on households. Lawmakers will also vote on <\/span><span style=\"font-weight:700\">the bill to <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;font-weight:700;\"><a href=\"https:\/\/enterprise.press\/stories\/2023\/02\/20\/senate-approves-bill-allowing-informal-industrial-projects-to-get-temporary-licenses-97412\/\" style=\"\">grant temporary licenses<\/a><\/span><span style=\"font-weight:700\"> to informal industrial projects<\/span><span style=\"font-weight:400;\">, and two loan agreements: a USD 301 mn facility from Japan to help finance Metro Line 4 and a USAID grant for higher education.<\/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\">Higher education minister to face MPs on Tuesday:<\/span><span style=\"\"> Higher Education Minister <\/span><span>Ayman Ashour will face questions from MPs on the performance of state-owned universities <\/span><span>and the shortage of doctors and medical supplies<\/span><span> in <\/span><span style=\"\">university teaching hospitals<\/span><span style=\"font-weight:400;\">, among other things.<\/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 Fed week:<\/span><span style=\"\"> The Federal Reserve will hold its two-day policy meeting on Tuesday and <\/span><span style=\"font-weight:400;\">Wednesday. <\/span><\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:700\">Fresh off <\/span><span style=\"-webkit-text-decoration-skip:none;font-weight:700;text-decoration-skip-ink:none\"><a href=\"https:\/\/enterprise.press\/stories\/2023\/03\/12\/saudi-iran-agree-to-restore-diplomatic-relations-99390\/\" style=\"\">brokering a Saudi-Iran accord<\/a><\/span><span style=\"font-weight:700\">, Xi has his sights on peace in Ukraine:<\/span><\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span>Chinese President Xi Jinping will hold separate talks with Vladimir Putin and Ukrainian President Volodymyr Zelenskiy this week, according to <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/www.wsj.com\/articles\/chinas-xi-to-speak-with-zelensky-meet-next-week-with-putin-f34be6be\" style=\"\">the Wall Street Journal<\/a><\/span><span>. The Chinese president will fly to Moscow for the first time since the war broke out for face-to-face talks with Putin and will likely speak to Zelenskiy virtually, people familiar with the matter told the newspaper. This comes a few weeks after Beijing published <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/www.fmprc.gov.cn\/mfa_eng\/zxxx_662805\/202302\/t20230224_11030713.html\" style=\"\">a 12-point plan<\/a><\/span><span> for restarting peace talks and ending the war.<\/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 isn\u2019t yet on board with a ceasefire:<\/span><span style=\"\"> \u201cA cease-fire now is \u2026 effectively the ratification <\/span><span>of Russian conquest,\u201d White House national security spokesperson John Kirby <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/thehill.com\/homenews\/3905251-ahead-of-xi-putin-meeting-in-moscow-white-house-rejects-cease-fire-in-ukraine\/\" style=\"\">said Friday<\/a><\/span><span style=\"font-weight:400;\">. \u201cAnd of course, it would be another continued violation of the UN Charter.\u201d<\/span><\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:700;\">FURTHER AFIELD-<\/span><\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span id=\"wwtt4\" style=\"font-weight: inherit;\">Sisi-Erdogan summit in 2H 2023?<\/span> <span style=\"\">President Abdel Fattah El Sisi and his Turkish <\/span><span>counterpart, Recep Tayyip Erdogan, will for the first time hold direct talks in a summit to take place during the second half of the year, <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/bit.ly\/3yMkL9p\" style=\"\">Al Arabiya<\/a><\/span><span> reported yesterday, citing sources it says have knowledge of the matter. <\/span><span style=\"font-weight:400;\">This came after Turkish Foreign Minister Mevlut Cavusoglu\u2019s historic visit to Cairo and meeting with his Egyptian counterpart Sameh Shoukry. We have the full rundown in the Diplomacy section, below.<\/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;\"><\/span><\/p><div class=\"row\">\n<div class=\"col-md-12 subscribe-box-panel\">\n<div class=\"\">\n<div class=\"title\">\n<h4 class=\"fw-lighter mb-10\">\n          Get <b style=\"font-weight: 700\">Enterprise<\/b> daily<br>\n        <\/h4>\n<\/div>\n<p class=\"mb-10\">The roundup of news and trends that move your markets and shape corporate agendas delivered straight to your inbox.<\/p>\n<p>     <a href=\"egypt\/en\/user\/NewsLetters\" type=\"button \" class=\"btn-green px-3 d-flex align-items-center\">Subscribe here<\/a>\n    <\/p><\/div>\n<\/div>\n<\/div><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:700;\">THE BIG STORIES ABROAD-<\/span><\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:700\">UBS to the rescue? Swiss banking giant UBS is in talks to acquire embattled lender <\/span><span style=\"font-weight:700\">Credit Suisse<\/span><span> as Swiss authorities race to prevent its collapse, the <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/www.ft.com\/content\/5746165a-3a0c-42c7-9a2e-cb7cf5f33f46\" style=\"\">Financial Times<\/a><\/span><span> reports, citing people familiar with the talks.The<\/span><span> boards <\/span><span style=\"font-weight:400;\">of the two largest Swiss banks are meeting this weekend to discuss the plans, which are being fast-tracked by the Swiss central bank and its financial regulator to save Credit Suisse before the markets open on Monday. <\/span><\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:700\">ICYMI- <\/span><span style=\"\">The collapse of three banks in the US earlier this month has triggered panic in the <\/span><span>markets about the financial stability of banks across the world. Credit Suisse \u2014 whose slow decline since the 2008 financial crisis has accelerated in recent months following a series of heavy losses \u2014 saw its share price plunge to record lows and suffered CHF 10 bn in daily withdrawals as depositors panicked about its solvency. The Swiss central bank handed it an emergency <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/enterprise.press\/stories\/2023\/03\/16\/this-evening-state-privatization-program-will-likely-lead-with-oil-companies-credit-suisse-gets-a-lifeline-100406\/\" style=\"\">USD 54 bn loan<\/a><\/span><span style=\"font-weight:400;\"> last Wednesday which failed to stem the bleeding.<\/span><\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:700\">Trump in cuffs this week? <\/span><span style=\"\">Former US President Donald Trump said yesterday that he <\/span><span>is expecting to be arrested on Tuesday on charges of paying an a performer some USD 130k in hush money. Trump called on his supporters to protest against his arrest in a <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/truthsocial.com\/users\/realDonaldTrump\/statuses\/110044039949982181\" style=\"\">post<\/a><\/span><span> on his own social media platform Truth Social. \u201cProtest, take our nation back,\u201d he wrote. (<\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/www.reuters.com\/world\/us\/trump-says-he-expects-be-arrested-tuesday-manhattan-da-case-truth-social-2023-03-18\/\" style=\"\">Reuters<\/a><\/span><span> | <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/apnews.com\/article\/trump-arrested-indicted-hush-money-manhattan-prosecutor-a48428984cf99d23f46b4157b34160ae?utm_source=homepage&amp;utm_medium=TopNews&amp;utm_campaign=position_01\" style=\"\">AP<\/a><\/span><span> | <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/edition.cnn.com\/2023\/03\/18\/politics\/donald-trump-manhattan-da-arrest-protests\/index.html\" style=\"\">CNN<\/a><\/span><span> | <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/www.bloomberg.com\/news\/articles\/2023-03-18\/trump-signals-he-expects-arrest-march-21-in-manhattan-da-s-probe?srnd=premium-middle-east\" style=\"\">Bloomberg<\/a><\/span><span> | <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/www.nytimes.com\/2023\/03\/18\/us\/politics\/trump-indictment-arrest-protests.html\" style=\"\">New York Times<\/a><\/span><span> | <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/www.bbc.com\/news\/world-us-canada-65000325\" style=\"\">BBC<\/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\">Good news: We\u2019re not heading back to the dark days of the 2022 global grain <\/span><span style=\"font-weight:700\">shortages (at least not yet anyway): <\/span><span>Russia, Ukraine and the UN have reached an agreement to renew the Black Sea grain initiative, which will allow Kyiv to continue to export food through its Black Sea port, according to <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/www.reuters.com\/markets\/commodities\/black-sea-grain-deal-extended-turkey-ukraine-say-2023-03-18\/\" style=\"\">Reuters<\/a><\/span><span>. The UN was aiming to secure an agreement to extend it by another 120 days but Russian objections to Western sanctions mean that it will only remain in place for 60 days. Moscow is conditioning further extensions on the removal of some of the sanctions.<\/span><\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:700\">ATTEND OUR NEXT FORUM-<\/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\">WANT TO SHARE YOUR STORY ON STAGE?<\/span><span> Drop a note to <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"mailto:patrick@enterprisemea.com\" style=\"\">Patrick here and let\u2019s talk<\/a><\/span><span style=\"font-weight:400;\">.<\/span><\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:700\">WANT TO BECOME A COMMERCIAL PARTNER?<\/span><span> Ping a note to <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"mailto:mtaalab@inktankir.com\" style=\"\">Moustafa, our head of commercial, here<\/a><\/span><span>.<\/span><\/p>\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/economy\/\">economy<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/egypt-saudi-relations\/\">Egypt-Saudi relations<\/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=\"583642 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=\"583642\">\r\n            \r\n            <div class=\"story__body\">\r\n\r\n                <a href=\"https:\/\/enterpriseam.com\/egypt\/2023\/03\/19\/583642\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-583642\" class=\"content-area-description single-story post-583642 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\/2022\/12\/Simply-Somabay-1-1600px.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 style=\"font-weight:400;\">.<\/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=\"583643\" 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=\"583643\">\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\/19\/elab-first-up-for-sale-via-sfes-pre-ipo-fund-soliman\/\">\r\n                            The Egyptian Linear Alkyl Benzine Co. (Elab) will be the first company to go to market via the SFE\u2019s pre-IPO fund -Soliman                        <\/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\/19\/elab-first-up-for-sale-via-sfes-pre-ipo-fund-soliman\/\" target=\"_blank\">\n                    Open in new tab                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/new-tab.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a href=\"#\" target=\"_blank\" onclick=\"event.preventDefault(); 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Soliman didn\u2019t disclose further details relating to the sale, <\/span><span style=\"font-weight:400;\">but we expect the transaction to include an initial public offering of shares on the EGX.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.1500000000000001;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:700\">We still don\u2019t know which firms are in the fund:<\/span><span>Eight companies have now been added to the fund,<\/span><span> Soliman reportedly told the newspaper, without disclosing names. Al Borsa <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/enterprise.press\/stories\/2023\/03\/16\/sfe-to-sell-up-to-20-of-misr-ins-holding-to-strategic-investors-100337\/\" style=\"\">reported last week<\/a><\/span><span> that the SFE is adding state ins. company Misr Ins. Holding to its portfolio, while <\/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=\"\">an unconfirmed report<\/a><\/span><span style=\"font-weight:400;\"> in January claimed that Banque du Caire, Misr Life Ins. and Elab.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.1500000000000001;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:700\">Safi and Wataniya are not included in the fund<\/span><span>, Soliman told Al Borsa. <\/span><span style=\"\">CI Capital has <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/enterprise.press\/stories\/2023\/03\/15\/ci-capital-reportedly-marketing-at-least-10-of-safi-wataniya-to-strategics-100037\/\" style=\"\">reportedly started<\/a><\/span><span style=\"\"> marketing the two military-owned companies to strategic investors, with the goal of selling c. 10% of each. <\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.1500000000000001;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:700;\">FIRST UP ON THE EGX: ELAB?<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:700\">Six of the first eight companies set to debut on the EGX under the state privatization program are oil or petchem players<\/span><span>, according to a separate report by <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/www.asharqbusiness.com\/article\/48261\/\u0634\u0631\u0643\u0627\u062a-\u0627\u0644\u0628\u062a\u0631\u0648\u0644-\u062a\u0637\u063a\u0649-\u0639\u0644\u0649-\u0628\u0627\u0643\u0648\u0631\u0629-\u0627\u0644\u0637\u0631\u0648\u062d\u0627\u062a-\u0627\u0644\u062d\u0643\u0648\u0645\u064a\u0629-\u0641\u064a-\u0628\u0648\u0631\u0635\u0629-\u0645\u0635\u0631\/\" style=\"\">Asharq Business<\/a><\/span><span style=\"font-weight:400;\">, citing sources it says are close to the matter.<\/span><\/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 lineup: <\/span><span style=\"\">The news outlet says that a preliminary list of state-owned firms earmarked for <\/span><span style=\"\">IPOs include Enppi, eMethanex, Midor, Assiut Oil Refining Company (ASORC), Ethydco, and El Wady for Phosphate Industries and Fertilizers (WAPHCO) \u2014 all of which were <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/enterprise.press\/stories\/2023\/01\/04\/four-state-owned-companies-ready-to-list-with-eight-more-to-follow-egx-92768\/\" style=\"\">flagged by the EGX<\/a><\/span><span style=\"\"> earlier this year as being in line for privatization. Also reportedly on the list are the Port Said and Damietta container terminal operators<\/span><span style=\"\">, in which the Qatari sovereign wealth fund is <\/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=\"\">reporte<\/a><\/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=\"\">dly<\/a><\/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=\"\">attempting to acquire<\/a><\/span><span style=\"font-weight:400;\"> majority stakes.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:700\">32 becomes 37?<\/span><span style=\"\"> Enppi, eMethanex, Midor, ASORC and WAPHCO were not on 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=\"\">initial list of<\/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=\"\">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=\"\">companies<\/a><\/span><span style=\"\"> announced by Prime Minister Moustafa Madbouly in February. Finance Minister Mohamed Maait <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/enterprise.press\/stories\/2023\/03\/16\/govt-to-start-marketing-state-companies-to-investors-in-april-says-maait-100336\/\" style=\"\">said last week<\/a><\/span><span style=\"font-weight:400;\"> that the government could add more names to the line-up, without providing details.<\/span><\/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 government plans to sell stakes in 32 state-owned companies on the EGX, to strategic investors, and a mix of both as part of its <\/span><span style=\"\">r<\/span><span style=\"\">ebooted state privatization pro<\/span><span style=\"\">gram. <\/span><span style=\"font-weight:400;\">The SFE set up its pre-IPO fund in September 2022 to prepare state-owned companies for eventual listing on the EGX. <\/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\/energy\/\">energy<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/enppi\/\">Enppi<\/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\/midor\/\">MIDOR<\/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\/petrochemicals\/\">petrochemicals<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/privatization-watch\/\">privatization watch<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                    <\/div>\n    <\/div>\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"583645\" 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=\"583645\">\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\/19\/sfe-open-to-selling-100-of-safi-wataniya-to-strategic-investors-soliman\/\">\r\n                            Egypt\u2019s sovereign wealth fund could sell 100% of military firms to investors -Soliman                        <\/a>\r\n                    <\/h3>\r\n\r\n                    \r\n\t\t\t\t\t\n<div class=\"cta\">\n    <div class=\"cta__btn share-dropdown-cta dropdown-toggle-btn\" style=\"position:relative\">\n        <img decoding=\"async\" src=\"https:\/\/ent.news\/internal\/408834.svg\" alt=\"\">\n        Share Story\n        <!-- Dropdown Menu -->\n        <ul class=\"share-menu\">\n            <li class=\"list-inline-item\">\n                <a 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href=\"https:\/\/enterpriseam.com\/egypt\/2023\/03\/19\/sfe-open-to-selling-100-of-safi-wataniya-to-strategic-investors-soliman\/\">\r\n                    <div class=\"photo photo--above\">\r\n                        <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2023\/3\/Safi-1600.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"583646\" data-permalink=\"https:\/\/enterpriseam.com\/egypt\/2023\/03\/19\/sfe-open-to-selling-100-of-safi-wataniya-to-strategic-investors-soliman\/safi-1600-jpg\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2023\/3\/Safi-1600.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"Safi-1600.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2023\/3\/Safi-1600.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2023\/3\/Safi-1600.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-583645\" class=\"content-area-description single-story post-583645 post type-post status-publish format-standard has-post-thumbnail hentry category-privatization-watch tag-ayman-soliman tag-enterpriseam tag-ma-watch tag-military tag-privatization-watch tag-safi 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\/.9448be92-7dfc-4cbd-8821-bc96e56ef7d2.mp3\"><\/audio><\/figure>\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\">No limits on Safi, Wataniya stake sales -SFE\u2019s Soliman:<\/span><span style=\"\"> The <\/span><span>Sovereign Fund of<\/span><span> E<\/span><span>gypt <\/span><span>(SFE) could sell up to 100% of military-owned firms Safi and Wataniya to <\/span><span style=\"\">strategic investors depending on market appetite, <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/www.asharqbusiness.com\/article\/48266\/\u0635\u0646\u062f\u0648\u0642-\u0645\u0635\u0631-\u0627\u0644\u0633\u064a\u0627\u062f\u064a-\u0644\u0627-\u062d\u062f-\u0623\u0642\u0635\u0649-\u0644\u0644\u062d\u0635\u0635-\u0627\u0644\u0645\u0632\u0645\u0639-\u0628\u064a\u0639\u0647\u0627-\u0645\u0646-\u0648\u0637\u0646\u064a\u0629-\u0648\u0635\u0627\u0641\u064a\/\" style=\"\">Asharq Business<\/a><\/span><span> quotes our friend SFE CEO Ayman Soliman as having said<\/span><span style=\"\">. The news outlet had <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/enterprise.press\/stories\/2023\/03\/15\/ci-capital-reportedly-marketing-at-least-10-of-safi-wataniya-to-strategics-100037\/\" style=\"\">reported last week<\/a><\/span><span style=\"font-weight:400;\"> that the government was looking to sell at least 10% in each company as part of its privatization drive and that CI Capital had been tapped to manage the sales. \u201cThere will be no upper limit\u201d to the size of the stake on offer, Soliman said on the sidelines of an event in 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\">How much will be up for grabs? It all boils down to investor <\/span><span style=\"font-weight:700\">appetite<\/span><span style=\"\">, Soliman said, <\/span><span style=\"font-weight:400;\">emphasizing that the SFE aims to be \u201cvery flexible\u201d and \u201cresponsive to the market\u201d in its approach to the sales.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:700\">It\u2019s not just Gulf wealth funds that are showing interest, Soliman says:<\/span><span style=\"\"> The invest<\/span><span style=\"\">ors <\/span><span>eyeing Safi and Wataniya include international, regional, and local players, Soliman told Asharq, adding that the companies have received interest from a <\/span><span>large <\/span><span style=\"font-weight:400;\">number of 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\">Remember:<\/span><span style=\"\"> CI Capital opened talks with prospective investors last week in a roadshow tha<\/span><span style=\"\">t is <\/span><span style=\"font-weight:400;\">expected to finish 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\">Ownership limits have reportedly been a sticking point in negotiations for other state <\/span><span style=\"font-weight:700\">companies:<\/span><span style=\"\"> Sale talks for stakes in Vodafone Egypt and several port operators have reportedly stalled in recent weeks due to disagreements over ownership. <\/span><span style=\"\">Those sale processes are not being managed by the SFE.<\/span><span style=\"\"> Recent reports have suggested that the government has been unwilling to meet the Qatar Investment Authority\u2019s demand for all of Telecom Egypt\u2019s (TE) <\/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=\"\">45% stake in Vodafone Egypt<\/a><\/span><span style=\"\"> and for majority ownership of the <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/enterprise.press\/stories\/2023\/01\/31\/investment-banks-eye-terminal-operator-ipos-and-qatars-swf-is-looking-for-a-strategic-stake-94977\/\" style=\"\">Port Said and Damietta container terminal operators<\/a><\/span><span style=\"\">.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:700\">A lot is at stake:<\/span><span style=\"\"> Concerns over Egypt\u2019s progress in selling state assets are contributing to the <\/span><span>shortage of hard currency and pressure on the EGP, which have intensified in recent days despite three devaluations over the past year. Portfolio investors are <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/enterprise.press\/stories\/2023\/03\/14\/this-morning-global-bank-sell-off-sends-egx-30-to-a-nine-week-low-99864-2\/\" style=\"\">continuing to sit on the sidelines<\/a><\/span><span style=\"font-weight:400;\"> until they see signs that the government is delivering on its commitments under the IMF program, which include accelerating privatization and maintaining a fully flexible exchange rate. <\/span><\/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 SFE was earlier reported to have <\/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=\"\">planned to sell a 20-30% stake<\/a><\/span><span style=\"\"> in Safi a<\/span><span style=\"\">nd<\/span><span>Wataniya to strategic investors before proceeding with public share sales when global market conditions have improved. The fund has been restructuring the two firms ahead of the share sale<\/span><span>.<\/span><span> Safi and Wataniya are both on <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/enterprise.press\/stories\/2023\/02\/09\/rebooted-privatization-program-to-see-stakes-in-32-companies-sold-to-strategics-public-investors-96067\/\" style=\"\">the list of the 32 state-owned companies<\/a><\/span><span> the Madbouly government plans to offer to strategic investors and the EGX by the end of 1Q 2024.<\/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\/ma-watch\/\">M&amp;A Watch<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/military\/\">military<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/privatization-watch\/\">privatization watch<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/safi\/\">Safi<\/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=\"583647\" 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=\"583647\">\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\">Infrastructure<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2023\/03\/19\/adp-lands-30-year-contract-to-develop-and-operate-safaga-port-terminal\/\">\r\n                            UAE\u2019s Abu Dhabi Port signs 30-year agreement to develop and operate Egypt\u2019s Safaga Port                        <\/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\/19\/adp-lands-30-year-contract-to-develop-and-operate-safaga-port-terminal\/\" target=\"_blank\">\n                    Open in new tab                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/new-tab.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a href=\"#\" target=\"_blank\" onclick=\"event.preventDefault(); 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href=\"https:\/\/api.whatsapp.com\/send?text=ADP+lands+30-year+contract+to+develop+and+operate+Safaga+Port+terminal+https%3A%2F%2Fenterpriseam.com%2Fegypt%2F2023%2F03%2F19%2Fadp-lands-30-year-contract-to-develop-and-operate-safaga-port-terminal%2F\">\n                    WhatsApp                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/whatsapp-icon.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n        <\/ul>\n    <\/div>\n        <\/div>\r\n                    \r\n                <\/div>\r\n\r\n            \r\n            <div class=\"story__body\">\r\n\r\n                <a href=\"https:\/\/enterpriseam.com\/egypt\/2023\/03\/19\/adp-lands-30-year-contract-to-develop-and-operate-safaga-port-terminal\/\">\r\n                    <div class=\"photo photo--above\">\r\n                        <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2022\/12\/portsaidterminal-1600px.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"583648\" data-permalink=\"https:\/\/enterpriseam.com\/egypt\/2023\/03\/19\/adp-lands-30-year-contract-to-develop-and-operate-safaga-port-terminal\/portsaidterminal-1600px-jpg\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2022\/12\/portsaidterminal-1600px.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"portsaidterminal-1600px.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2022\/12\/portsaidterminal-1600px.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2022\/12\/portsaidterminal-1600px.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-583647\" class=\"content-area-description single-story post-583647 post type-post status-publish format-standard has-post-thumbnail hentry category-infrastructure tag-abu-dhabi-ports tag-egypt-uae-relations tag-enterpriseam tag-infrastructure tag-logistics 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\/.7d257f69-bde1-42ae-bad5-4de8df601d18.mp3\"><\/audio><\/figure>\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\">Abu Dhabi Ports just established itself as a major player in Egypt\u2019s port infrastructure:<\/span><span style=\"\"> Abu <\/span><span>Dhabi Ports (ADP) will develop and operate a container terminal at Safaga Port under a USD 200 mn, 30-year concession agreement signed with the government on Saturday, according to statements from <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/www.adportsgroup.com\/en\/news-and-media\/2023\/03\/18\/ad-ports-group-signs-a-30-year-concession-agreement-to-develop-and-operate-safaga-port-in-egypt\" style=\"\">the Emirati port developer<\/a><\/span><span> and the <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/www.facebook.com\/EgyptianCabinet\/posts\/pfbid0YhnDymn1oLAtrTisapVDjceySniB51Mp9XpXu3jM1yNR6V43UGKMSiUdf1daWF8Dl\" style=\"\">Madbouly cabinet<\/a><\/span><span style=\"font-weight:400;\">.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:700\">The details: <\/span><span style=\"\">The Safaga 2 terminal is expected to kick off operations in 2Q 2025, handling <\/span><span>some 5 mn tons of dry bulk, 1 mn tons of liquid bulk, 450k TEUs of containerized cargo and 50k <\/span><span style=\"\">car-equivalent units (CEUs) of roll-on, roll-off cargo<\/span><span>. The port currently has a maximum capacity of <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/dlca.logcluster.org\/display\/public\/DLCA\/2.1.14 Egypt Safaga Port\" style=\"\">6.37 mn tons<\/a><\/span><span style=\"font-weight:400;\"> per year. ADP will spend USD 200 mn on \u201csuperstructure and equipment, buildings, and other real estate facilities and utilities\u2019 network inside the concession area,\u201d most of which will be spent in 2024 and 2025. The Emirati company inked the agreement with the Red Sea Ports Authority, making the Safaga Port the \u201cfirst internationally-operated port in the Upper Egypt region,\u201d it 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\">A few years in the making: <\/span><span style=\"\">ADP first expressed its interest in <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/enterprise.press\/stories\/2021\/11\/09\/abu-dhabi-ports-could-invest-usd-500-mn-in-egypt-57678\/\" style=\"\">Safaga port in 2021<\/a><\/span><span style=\"\">, and <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/www.adportsgroup.com\/en\/news-and-media\/2022\/05\/04\/ad-ports-group-signs-term-sheet-and-head-of-terms-agreements-for-port-projects-in-egypt\" style=\"\">signed a term sheet<\/a><\/span><span> with the government last year. The terminal was one of nine proposed PPP infrastructure projects given <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/enterprise.press\/stories\/2021\/06\/03\/nine-ppp-infrastructure-projects-get-early-approval-42736\/\" style=\"\">preliminary approval<\/a><\/span><span> by the c<\/span><span>abinet last year.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:700\">Raising cement exports: <\/span><span style=\"\">ADP also signed two 15-year agreements with the Suez Canal <\/span><span style=\"font-weight:400;\">Authority to develop cement terminals in Al Arish Port and West Port Said Port, which will collectively require USD 33 mn of investment. The two terminals will feature silos with a combined storage capacity of 90k tons, and are expected to be operational by 4Q 2023.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:700\">There\u2019s more: <\/span><span style=\"\">ADP inked <\/span><span style=\"\">letters of intent <\/span><span style=\"\">for the development, management, and operation of <\/span><span style=\"font-weight:400;\">new cruise terminals at Sharm El Sheikh and Hurghada, and RoRo, cruise and multipurpose terminals at Sokhna port, the statement said, without providing details. The company also signed an MoU for potentially working on the East Port Said terminal, a logistics zone, and an economic zone.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:700\">The news received attention internationally: <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/www.reuters.com\/world\/middle-east\/abu-dhabis-ad-ports-group-invest-200-mln-egypts-safaga-port-statement-2023-03-18\/\" 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\/abu-dhabi-ports\/\">Abu Dhabi Ports<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/egypt-uae-relations\/\">Egypt-UAE relations<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/infrastructure\/\">infrastructure<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/logistics\/\">logistics<\/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=\"583651\" 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=\"583651\">\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\">Investment Watch<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2023\/03\/19\/a-new-govt-investment-fund-wants-to-attract-fdi-from-expats\/\">\r\n                            Egypt has another plan to encourage Egyptians abroad to send their money home                        <\/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\/19\/a-new-govt-investment-fund-wants-to-attract-fdi-from-expats\/\" target=\"_blank\">\n                    Open in new tab                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/new-tab.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a href=\"#\" target=\"_blank\" onclick=\"event.preventDefault(); 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The Egyptians Abroad Investment Company will promote investment to major expat investors as well as regular savers, and has signed up eight Egyptian businessmen living abroad to sit on the board, the ministry 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\">Sitting on the board are:<\/span><\/p>\n<ul>\n<li><span style=\"font-weight:700\">Ashraf Doss<\/span><span style=\"\">, CEO of US-based <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"http:\/\/www.fern-pro.com\/\" style=\"\">Fern Pro Global<\/a><\/span><span style=\"\">;<\/span><\/li>\n<li><span style=\"font-weight:700\">Lord Nasser Fouad<\/span><span style=\"\"> (<\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/www.linkedin.com\/in\/naser-fouad-852496213\/\" style=\"\">LinkedIn<\/a><\/span><span style=\"\">), founder of <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/www.stgeorgehealthcaregroup.co.uk\/\" style=\"\">St George Healthcare Group<\/a><\/span><span style=\"\"> and <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/nhmc.co.uk\/\" style=\"\">NHMC<\/a><\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/nhmc.co.uk\/\" style=\"\">Investments<\/a><\/span><span style=\"\">;<\/span><\/li>\n<li><span style=\"font-weight:700\">Wael Hassan<\/span><span style=\"\"> (<\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/www.linkedin.com\/in\/wael-hassan-b4994332\/\" style=\"\">LinkedIn<\/a><\/span><span style=\"\">), president at <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/worldenvironment.in\/\" style=\"\">World Environment Expo<\/a><\/span><span style=\"\"> and<\/span><span style=\"\"> former assistant VPs <\/span><span style=\"font-weight:400;\">at Bank of America Merrill Lynch and JPMorgan;<\/span><\/li>\n<li><span style=\"font-weight:700\">Adel Boulos<\/span><span style=\"\"> (<\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/www.linkedin.com\/in\/adel-boulos-0b556125\/\" style=\"\">LinkedIn<\/a><\/span><span style=\"\">), VP at <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/amira.ca\/?SID=ti1q3tn9md4kn7sva8550nlrm4\" style=\"\">Amira Enterprises<\/a><\/span><span style=\"\"> and p<\/span><span style=\"\">resident of the <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/www.facebook.com\/ecbnorg\/\" style=\"\">Egyptian Canadian<\/a><\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/www.facebook.com\/ecbnorg\/\" style=\"\">Business Network<\/a><\/span><span style=\"\">;<\/span><\/li>\n<li><span style=\"font-weight:700\">Karim Asaad<\/span><span style=\"\"> (<\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/www.linkedin.com\/in\/karim-asaad-750ba4146\/\" style=\"\">LinkedIn<\/a><\/span><span style=\"\">), founder and CEO of commodity trading house <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/www.bk-ltd.com\/\" style=\"\">Brooks &<\/a><\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/www.bk-ltd.com\/\" style=\"\">Kempton<\/a><\/span><span style=\"font-weight:400;\">;<\/span><\/li>\n<li><span style=\"-webkit-text-decoration-skip:none;font-weight:700;text-decoration-skip-ink:none\"><a href=\"https:\/\/www.netsync.com\/bio\/tamer-hedayet\/\" style=\"\">Tamer Hedayat<\/a><\/span><span style=\"\">, senior VP of global services at <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/www.netsync.com\/\" style=\"\">Netsync<\/a><\/span><span style=\"font-weight:400;\">;<\/span><\/li>\n<li><span style=\"font-weight:700\">Omar Abdullah Shehata<\/span><span style=\"\">, chairman Victoria Agritec Solutions and chairman of the Center <\/span><span style=\"font-weight:400;\">for Development and Food Security in Africa;<\/span><\/li>\n<li><span style=\"font-weight:700\">Hassan Al Jarrahi<\/span><span style=\"\">, chairman Al Amal Printing Factory, Al Bariz Industries, and the <\/span><span style=\"\">Egyptian Information Forms Company.<\/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\">It\u2019s early days:<\/span><span style=\"\"> It\u2019s still not clear how the company will operate. Board members and several <\/span><span style=\"font-weight:400;\">state agencies will now prepare a plan on how to establish the company and how it will operate, according to the statement. A listing on the EGX or an exchange abroad is among the options being considered, it 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\">REFRESHER- <\/span><span style=\"\">The government has launched several initiatives in recent months aimed at <\/span><span style=\"\">finding new sources of hard currency in response to the ongoing FX crisis. <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/enterprise.press\/stories\/2023\/03\/09\/in-a-bid-to-attract-fdi-the-govt-is-making-it-easier-to-acquire-citizenship-99194\/\" style=\"\">More attractive citizenship rules<\/a><\/span><span style=\"\"> for foreigners, new <\/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=\"\">tax<\/a><\/span><span style=\"\"> incentives and <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/enterprise.press\/stories\/2023\/03\/07\/nuca-to-offer-cut-price-land-to-investors-paying-up-front-in-fx-98841\/\" style=\"\">land price discounts<\/a><\/span><span style=\"\"> for foreign investors, and the <\/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=\"\">car import scheme<\/a><\/span><span style=\"font-weight:400;\"> are all designed to stimulate new FX inflows.<\/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\/economy\/\">economy<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/emigration-ministry\/\">Emigration Ministry<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\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\/investment-watch\/\">investment watch<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                    <\/div>\n    <\/div>\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"583653\" 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=\"583653\">\r\n            \r\n                <div class=\"issue-story-header text-center\">\r\n                    <div class=\"index-number\">6<\/div>\r\n\r\n                    <p class=\"f-graphik\">Startup watch<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2023\/03\/19\/with-equity-fundraising-flowing-to-a-crawl-are-more-mature-startups-eyeing-securitized-bonds\/\">\r\n                            With equity fundraising flowing to a crawl, are more mature Egyptioan startups eyeing securitized bonds?                        <\/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\/19\/with-equity-fundraising-flowing-to-a-crawl-are-more-mature-startups-eyeing-securitized-bonds\/\" target=\"_blank\">\n                    Open in new tab                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/new-tab.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a href=\"#\" target=\"_blank\" onclick=\"event.preventDefault(); 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In the fintech space, we\u2019ve heard of two young companies issuing <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/enterprise.press\/stories\/2020\/11\/10\/enterprise-explains-securitized-bonds-24491\/\" style=\"\">securitized bonds<\/a><\/span><span style=\"font-weight:400;\"> in the past few months, suggesting that bond issuances could be gaining traction in StartupLand. <\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:700\">Blnk and MNT-Halan are two startups that have recently turned to securitization: <\/span><span>Lending platform <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/www.blnk.ai\/\" style=\"\">Blnk<\/a><\/span><span> raised a <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/enterprise.press\/stories\/2022\/11\/13\/blnk-lines-up-usd-32-mn-in-funding-including-debt-equity-and-proceeds-from-securitized-bond-86892\/\" style=\"\">total of USD 32 mn<\/a><\/span><span> in equity and debt capital in November, of which USD 8.3 mn were a securitized bond issuance underwritten by Banque du Caire and the National Bank of Egypt. Egyptian superapp MNT-Halan also took <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/enterprise.press\/stories\/2023\/02\/02\/mnt-halan-on-its-way-to-unicorn-status-with-major-chimera-investment-95288\/\" style=\"\">two bond issuances<\/a><\/span><span> worth USD 140 mn to market through its subsidiaries Tasaheel Microfinance Company and Halan Consumer Finance early February. This was the company\u2019s second issuance, <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/enterprise.press\/stories\/2022\/06\/28\/tasaheel-securitizes-usd-150-mn-of-its-loan-book-74882\/\" style=\"\">with the first one completed<\/a><\/span><span style=\"font-weight:400;\"> in June last year for USD 150 mn. <\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:700\">Both Blnk and MNT-Halan are lenders, which means they can securitize their loan books. <\/span><span style=\"font-weight:400;\">As lenders, Blnk and MNT-Halan have a pool of receivables that they\u2019re expecting to get in the short, medium, and long term. These receivables were restructured as a bond, and rated by local rating agency MERIS. After a due diligence process by an auditor and a law firm, this pool of underlying receivables can be sold to fixed-income investors, which are predominantly banks, ins. companies, and fund managers. <\/span><\/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 why opt for securitized bonds? <\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:700\">#1- Fast growth means more cash burn: <\/span><span style=\"font-weight:400;\">\u201cYou\u2019re basically moving your loan book from your balance sheet to someone else\u2019s balance sheet to raise money to keep growing,\u201d MNT-Halan founder and CEO Mounir Nakhla told Enterprise. Companies opt for securitized bonds because they can offer more liquidity by offloading receivables. \u201cWe\u2019re growing faster than our ability to secure debt from local commercial banks, and to compensate for that, as well as demonstrate our ability to de-bottleneck our balance sheet, we pursued the securitization at a very early stage,\u201d Blnk co-founder and CEO Amr Sultan 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\">#2- And there\u2019s no cap on the amount of money you can raise, as opposed to traditional debt. <\/span><span style=\"font-weight:400;\">\u201cGetting traditional forms of debt comes with a cap, but securitized bonds allow us to raise bigger amounts than traditional overdraft facilities,\u201d Nakhla adds.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:700\">#3- Moving away from foreign currency and share dilution:<\/span><span style=\"font-weight:400;\"> When it comes to equity funding \u2014 the usual suspect in the startup funding space \u2014 entrepreneurs get a bit wary due to two things. Firstly, every investor that comes on dilutes not only the founders\u2019 shares, but also those of the company\u2019s other investors. Secondly, \u201ca lot of the equity funding is in USD and I definitely do not want any USD exposure to grow my loan book, but rather local currency exposure,\u201d Nakhla explains.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:700\">Caveat: The process is tedious and time-consuming:<\/span><span style=\"font-weight:400;\"> The founders used words like \u201ccomplicated,\u201d \u201ctedious,\u201d and \u201cthorough\u201d to describe the securitization process. \u201cThe first securitization was very complex and took at least six months to go through,\u201d Nakhla says. This goes back to the meticulous due diligence process taking place between auditors, lawyers and government bodies. \u201cThe subsequent ones were more straightforward. There is a learning curve,\u201d he adds.<\/span><\/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 that\u2019s also not necessarily a bad thing: <\/span><span style=\"font-weight:400;\">The complex process makes it a safer option for investors. \u201cGiven the level of scrutiny we are subjected to in the securitization process, it gives fixed income investors a level of comfort in the soundness of the company and its business,\u201d Sultan explains. Banks \u2014 a few of which might be averse to lending a young company \u2014 as well as other fixed income investors, are more likely to invest in a highly rated securitized bond, which is why this type of funding opens up the possibility of having multiple sources of funding that can grow concurrently, he adds.<\/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\/debt-watch\/\">debt watch<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/mnt-halan\/\">MNT-Halan<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/securitization\/\">securitization<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/startup-watch\/\">Startup watch<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                    <\/div>\n    <\/div>\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"583655\" 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=\"583655\">\r\n            \r\n                <div class=\"issue-story-header text-center\">\r\n                    <div class=\"index-number\">7<\/div>\r\n\r\n                    <p class=\"f-graphik\">Moves<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2023\/03\/19\/adel-el-labban-steps-down-from-aub-after-two-decades-at-the-helm-plus-itida-journalists-syndicate-get-new-chiefs\/\">\r\n                            Adel El Labban steps down from AUB after two decades at the helm. PLUS: ITIDA, Journalists\u2019 syndicate get new chiefs                        <\/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\/19\/adel-el-labban-steps-down-from-aub-after-two-decades-at-the-helm-plus-itida-journalists-syndicate-get-new-chiefs\/\" target=\"_blank\">\n                    Open in new tab                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/new-tab.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a href=\"#\" target=\"_blank\" onclick=\"event.preventDefault(); navigator.clipboard.writeText('https:\/\/enterpriseam.com\/egypt\/2023\/03\/19\/adel-el-labban-steps-down-from-aub-after-two-decades-at-the-helm-plus-itida-journalists-syndicate-get-new-chiefs\/')\">\n                    Copy Link                <\/a>\n\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a target=\"_blank\" href=\"https:\/\/www.facebook.com\/sharer.php?u=https:\/\/enterpriseam.com\/egypt\/2023\/03\/19\/adel-el-labban-steps-down-from-aub-after-two-decades-at-the-helm-plus-itida-journalists-syndicate-get-new-chiefs\/\">\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=Adel El Labban steps down from AUB after two decades at the helm. PLUS: ITIDA, Journalists\u2019 syndicate get new chiefs&url=https:\/\/enterpriseam.com\/egypt\/2023\/03\/19\/adel-el-labban-steps-down-from-aub-after-two-decades-at-the-helm-plus-itida-journalists-syndicate-get-new-chiefs\/\">\n                    X                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/twitter-icon.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a target=\"_blank\" href=\"https:\/\/www.linkedin.com\/shareArticle?mini=true&url=https:\/\/enterpriseam.com\/egypt\/2023\/03\/19\/adel-el-labban-steps-down-from-aub-after-two-decades-at-the-helm-plus-itida-journalists-syndicate-get-new-chiefs\/&title=Adel El Labban steps down from AUB after two decades at the helm. 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El Labban was responsible for the management of the commercial, retail and private banking and wealth management businesses or AUB and all its affiliates across Bahrain, Kuwait, UAE, Iraq, Egypt, Saudi Arabia, Oman, Libya and the UK. A senior international banker with close to 30 years in the industry, El Labban has held C-suite positions at the United Bank of Kuwait and CIB as well as acting as the vice president of corporate finance at Morgan Stanley\u2019s Investment Banking Division.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight: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\">Ahmed Elzaher<\/span><span style=\"\"> (<\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/www.linkedin.com\/in\/ahmedelzaher\/\" style=\"\">LinkedIn<\/a><\/span><span style=\"\">) has been officially made <\/span><span style=\"font-weight:700\">CEO<\/span><span style=\"\"> of the <\/span><span style=\"font-weight:700\">Information <\/span><span style=\"font-weight:700\">Technology Industry Development Agency<\/span><span> (ITIDA) by Prime Minister Moustafa Madbouly, the Communications Ministry said in <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/www.facebook.com\/MCITEgypt\/posts\/pfbid0oaDHzEvF8mwBfeU7P6QFGQJCqS6vHNN3MJNUuqUVDkiyQkEaNTZV36q7S3saYaCnl\" style=\"\">a statement<\/a><\/span><span> yesterday. Elzaher has <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/enterprise.press\/stories\/2022\/12\/07\/itida-gets-a-new-boss-90432\/\" style=\"\">held the position since December<\/a><\/span><span style=\"font-weight:400;\">, when he was named acting head in place of Amr Mahfouz who retired a month prior. <\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:700\">About Elzaher: <\/span><span style=\"font-weight:400;\">Elzaher is also assistant minister for ecosystem development at the Communications Ministry, and has more than 27 years of experience in the IT industry in several countries, including Egypt, the UAE, Kenya and Algeria.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:400;\"><\/p>\n<hr style=\"height:2px;border-width:0;color:gray;background-color:gray\">\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:700\">Khaled El Balshy<\/span><span style=\"\"> has been elected the <\/span><span style=\"font-weight:700\">new head of the Journalists\u2019 Syndicate<\/span><span style=\"\"> after <\/span><span>winning almost 50% of the vote in Friday\u2019s election. El Balshy received 2,450 of the 5,062 votes, beating his closest rival, Al Akhbar editor-in-chief Khaled Miri, who got 2,211, according to a tally carried by <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/www.shorouknews.com\/news\/view.aspx?cdate=18032023&id=b672bb26-f4c9-4bd0-890d-378b8aff2de5\" style=\"\">Al Shorouk<\/a><\/span><span>.  El Balshy will succeed Diaa Rashwan who had headed the syndicate <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/enterprise.press\/stories\/2019\/03\/17\/diaa-rashwan-is-now-head-of-egypts-journalists-syndicate\/\" style=\"\">since 2019<\/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\">Who is El Balshy? <\/span><span style=\"\">A critic of the government, El Balshy is currently the editor-in-chief of the <\/span><span>blocked leftist online publication Darb, before which he led <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/new.elbadil.com\/\" style=\"\">El Badil<\/a><\/span><span>. He also previously headed the syndicate\u2019s freedoms committee. El Balshy ran a campaign focusing on press freedoms, the need for an independent syndicate, and low wages in the industry. <\/span><span style=\"font-weight:700\">The election results received coverage overseas: <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/www.barrons.com\/news\/egypt-journalist-union-elects-government-critic-as-chief-7848bf8d\" style=\"\">AFP<\/a><\/span><span style=\"font-weight:400;\">. <\/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\/ahli-united-bank\/\">Ahli United Bank<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/banking\/\">banking<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/itida\/\">ITIDA<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/moves\/\">moves<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                    <\/div>\n    <\/div>\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"583657 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=\"583657\">\r\n            \r\n            <div class=\"story__body\">\r\n\r\n                <a href=\"https:\/\/enterpriseam.com\/egypt\/2023\/03\/19\/583657\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-583657\" class=\"content-area-description single-story post-583657 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\/5-SODIC-Caesar-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=\"583658\" 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=\"583658\">\r\n            \r\n                <div class=\"issue-story-header text-center\">\r\n                    <div class=\"index-number\">8<\/div>\r\n\r\n                    <p class=\"f-graphik\">LAST NIGHT\u2019S TALK SHOWS<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2023\/03\/19\/egypt-turkey-talks-in-cairo-dominate-talk-show-coverage\/\">\r\n                            Egypt-Turkey talks in Cairo dominate talk show coverage                        <\/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\/19\/egypt-turkey-talks-in-cairo-dominate-talk-show-coverage\/\" target=\"_blank\">\n                    Open in new tab                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/new-tab.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a href=\"#\" target=\"_blank\" onclick=\"event.preventDefault(); navigator.clipboard.writeText('https:\/\/enterpriseam.com\/egypt\/2023\/03\/19\/egypt-turkey-talks-in-cairo-dominate-talk-show-coverage\/')\">\n                    Copy Link                <\/a>\n\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a target=\"_blank\" href=\"https:\/\/www.facebook.com\/sharer.php?u=https:\/\/enterpriseam.com\/egypt\/2023\/03\/19\/egypt-turkey-talks-in-cairo-dominate-talk-show-coverage\/\">\n                    Facebook                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/facebook-icon2.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a target=\"_blank\" href=\"https:\/\/x.com\/intent\/post?text=Egypt-Turkey talks in Cairo dominate talk show coverage&url=https:\/\/enterpriseam.com\/egypt\/2023\/03\/19\/egypt-turkey-talks-in-cairo-dominate-talk-show-coverage\/\">\n                    X                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/twitter-icon.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a target=\"_blank\" href=\"https:\/\/www.linkedin.com\/shareArticle?mini=true&url=https:\/\/enterpriseam.com\/egypt\/2023\/03\/19\/egypt-turkey-talks-in-cairo-dominate-talk-show-coverage\/&title=Egypt-Turkey talks in Cairo dominate talk show coverage\">\n                    LinkedIn                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/linkedin-icon.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a href=\"https:\/\/api.whatsapp.com\/send?text=Egypt-Turkey+talks+in+Cairo+dominate+talk+show+coverage+https%3A%2F%2Fenterpriseam.com%2Fegypt%2F2023%2F03%2F19%2Fegypt-turkey-talks-in-cairo-dominate-talk-show-coverage%2F\">\n                    WhatsApp                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/whatsapp-icon.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n        <\/ul>\n    <\/div>\n        <\/div>\r\n                    \r\n                <\/div>\r\n\r\n            \r\n            <div class=\"story__body\">\r\n\r\n                <a href=\"https:\/\/enterpriseam.com\/egypt\/2023\/03\/19\/egypt-turkey-talks-in-cairo-dominate-talk-show-coverage\/\">\r\n                    <div class=\"photo photo--above\">\r\n                        <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2023\/3\/Kelma-Akhira-19-3-23-1600.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"583659\" data-permalink=\"https:\/\/enterpriseam.com\/egypt\/2023\/03\/19\/egypt-turkey-talks-in-cairo-dominate-talk-show-coverage\/kelma-akhira-19-3-23-1600-jpg\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2023\/3\/Kelma-Akhira-19-3-23-1600.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"Kelma-Akhira-19-3-23-1600.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2023\/3\/Kelma-Akhira-19-3-23-1600.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2023\/3\/Kelma-Akhira-19-3-23-1600.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-583658\" class=\"content-area-description single-story post-583658 post type-post status-publish format-standard has-post-thumbnail hentry category-last-nights-talk-shows tag-egypt-turkey-relations tag-enterpriseam tag-last-nights-talk-shows wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<figure class=\"wp-block-audio mb-0\"><audio controls preload=\"metadata\" src=\"https:\/\/s3.us-east-1.amazonaws.com\/ent.news\/audio\/2023\/3\/.9448be92-7dfc-4cbd-8821-bc96e56ef7d2.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:700\">It was all about foreign policy on last night\u2019s talk shows <\/span><span style=\"\">as the nation\u2019s talking heads shifted <\/span><span style=\"font-weight:400;\">their attention to the future of Egyptian-Turkish relations following Turkish Foreign Minister Mevlut Cavusoglu\u2019s meeting with Sameh Shoukry. We have more on that in Diplomacy, below. <\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:700\">How to patch things up with Turkey: <\/span><span style=\"\">\u201cEgypt wants Turkey to learn from the past 10 years that <\/span><span>having major conflicts is in no one\u2019s advantage,\u201d <\/span><span style=\"\">veteran journalist<\/span><span> Abdel Moneim Saeed told Kelma Akhira\u2019s Lamees El Hadidi (<\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/www.youtube.com\/watch?v=Lwh4UWmt-Ew\" style=\"\">watch, runtime: 7:33<\/a><\/span><span>). \u201cI see that Turkey is very eager to set up embassies once again and to have the countries\u2019 heads meet sooner rather than later,\u201d he said, adding that the Egyptian side is more wary, wanting to reestablish these ties <\/span><span style=\"\">in a more deliberate program and put in place a<\/span><span style=\"font-weight:400;\"> framework to settle conflict.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:700\">\u201cWe are on the right track to fully restore ties with Turkey<\/span><span style=\"\"> \u2026 the two countries\u2019 presidents <\/span><span>are expected to meet at some point in the future which will help push relations even further,\u201d Foreign Ministry spokesperson Ahmed Abu Zeid told Ala Mas\u2019ouleety (<\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/www.youtube.com\/watch?v=JRYgQM99ybI\" style=\"\">watch, runtime: 10:24<\/a><\/span><span>). Al Hayah Al Youm (<\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/www.youtube.com\/watch?v=u2L-bApkKz0\" style=\"\">watch, runtime: 4:51<\/a><\/span><span style=\"font-weight:400;\">) also had the news.<\/span><\/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 one-on-one with the new head of the Journalists\u2019 Syndicate: <\/span><span style=\"\">The newly-elected<\/span><span style=\"\"> head of <\/span><span>the Journalists\u2019 Syndicate Khaled El Balshy joined <\/span><span>Ala Mas\u2019ouleety in a phone in to celebrate his win (<\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/www.youtube.com\/watch?v=rZQi0A0JhWY\" style=\"\">watch, runtime: 3:19<\/a><\/span><span> | <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/www.youtube.com\/watch?v=ISGFojmAeAA\" style=\"\">3:45<\/a><\/span><span> | <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/www.youtube.com\/watch?v=m7qq0nWCSdA\" style=\"\">6:36<\/a><\/span><span>). <\/span><span>\u201cOur main goal is to defend journalists through a strong syndicate and free press,\u201d he said, adding that \u201cwe want to make the syndicate, once again, a home for all journalists.\u201d El Balshy also highlighted the need to help young part-time journalists secure full-time employment. The news also received coverage from Masa\u2019a DMC (<\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/www.youtube.com\/watch?v=lHsIP8mR2Tk\" style=\"\">watch, runtime: 1:22<\/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\">El Forsa is still accepting applications: <\/span><span style=\"\">El Hadidi (<\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/www.youtube.com\/watch?v=YdfoZAREXXQ\" style=\"\">watch, runtime: 3:15<\/a><\/span><span style=\"\">) reminded her viewers <\/span><span>that her startups competition show <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/enterprise.press\/stories\/2023\/03\/07\/last-nights-talk-shows-telecom-egypt-sale-medicine-prices-and-an-interview-with-the-gafi-ceo-98843\/\" style=\"\">El Forsa<\/a><\/span><span style=\"font-weight:400;\"> is still taking applications until 15 April. Applicants have to have businesses that are maximum three years old, 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\/egypt-turkey-relations\/\">Egypt-Turkey relations<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/last-nights-talk-shows\/\">LAST NIGHT\u2019S TALK SHOWS<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                    <\/div>\n    <\/div>\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"583660\" class=\"issue-section \">\n<div 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   <div class=\"index-number\">9<\/div>\r\n\r\n                    <p class=\"f-graphik\">EGYPT IN THE NEWS<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2023\/03\/19\/a-diplomatic-breakthrough-with-turkey-privatization-set-the-tone-on-egypt-in-the-intl-press-this-morning\/\">\r\n                            Egypt-Turkey tensions continue to thaw during talks in Cairo                        <\/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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src=\"https:\/\/i0.wp.com\/ent.news\/2023\/3\/Turkish-Foreign-Minister-in-egypt-1600.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"583662\" data-permalink=\"https:\/\/enterpriseam.com\/egypt\/2023\/03\/19\/a-diplomatic-breakthrough-with-turkey-privatization-set-the-tone-on-egypt-in-the-intl-press-this-morning\/turkish-foreign-minister-in-egypt-1600-jpg\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2023\/3\/Turkish-Foreign-Minister-in-egypt-1600.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"Turkish-Foreign-Minister-in-egypt-1600.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2023\/3\/Turkish-Foreign-Minister-in-egypt-1600.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2023\/3\/Turkish-Foreign-Minister-in-egypt-1600.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-583661\" class=\"content-area-description single-story post-583661 post type-post status-publish format-standard has-post-thumbnail hentry category-egypt-in-the-news tag-egypt-turkey-relations 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\/.9448be92-7dfc-4cbd-8821-bc96e56ef7d2.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:700\">Leading the international conversation on Egypt this morning:<\/span><span style=\"\"> Turkish Foreign Minister <\/span><span>Mevlut Cavusoglu\u2019s visit to Cairo yesterday for talks with Sameh Shoukry. We have the full story in this morning\u2019s Diplomacy, below. (<\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/apnews.com\/article\/egypt-turkey-elsissi-erdogan-b31df8a57e5dc8037cb5b64667440eb5\" style=\"\">AP<\/a><\/span><span> | <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/www.reuters.com\/article\/idUSKBN2VK04Z\" style=\"\">Reuters<\/a><\/span><span> | <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/www.barrons.com\/articles\/turkey-s-top-diplomat-to-visit-egypt-as-relations-ease-bdc2f4e0\" style=\"\">AFP<\/a><\/span><span> | <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/www.bloomberg.com\/news\/articles\/2023-03-18\/turkey-egypt-pledge-to-reboot-ties-after-decade-long-friction\" style=\"\">Bloomberg<\/a><\/span><span> | <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/www.thenationalnews.com\/mena\/2023\/03\/18\/turkish-foreign-minister-mevlut-cavusoglu-arrives-in-cairo-for-milestone-visit\/\" style=\"\">The National<\/a><\/span><span> | <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/english.alarabiya.net\/News\/middle-east\/2023\/03\/18\/Egypt-s-Turkey-s-foreign-ministers-hold-talks-in-Cairo-amid-improving-ties\" style=\"\">Al Arabiya<\/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\">Asset sales in Egypt face challenges:<\/span><span style=\"\"> Analysts talking to <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/www.reuters.com\/world\/middle-east\/egypt-asset-sales-face-obstacles-state-maintains-grip-2023-03-16\/\" style=\"\">Reuters<\/a><\/span><span style=\"\"> say that the new <\/span><span>state ownership document gives the government plenty of wiggle room to hold back from far-reaching privatization and could lead it to <\/span><span style=\"\">maintain control over a substantial portion of the economy<\/span><span style=\"font-weight:400;\">. <\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:700\">AND- The Pyramids of Giza <\/span><span style=\"-webkit-text-decoration-skip:none;font-weight:700;text-decoration-skip-ink:none\"><a href=\"https:\/\/twitter.com\/time\/status\/1636321723405434881?s=12&t=f2BR_8nkOq6iqkeiM3uAYQ\" style=\"\">grace the cover of Time Magazine<\/a><\/span><span style=\"\">after the magazine <\/span><span>named Giza and Saqqara among the world\u2019s greatest places in 2023. (<\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/time.com\/collection\/worlds-greatest-places-2023\/6261824\/giza-and-saqqara-egypt\/\" style=\"\">Time Magazine<\/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 making headlines: <\/span><\/p>\n<ul>\n<li><span style=\"font-weight:700\">Bayt Yakan in the spotlight:<\/span><span style=\"\"> The restoration of the historic Darb Al Ahmar villa <\/span><span>into a cultural center by architectural conservationist couple Alaa El Habashi and Ola Said gets a glossy write-up in the New York Times. (<\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/www.nytimes.com\/2023\/03\/15\/t-magazine\/cairo-mansion-bayt-yakan.html?searchResultPosition=1\" style=\"\">NYT<\/a><\/span><span style=\"font-weight:400;\">)<\/span><\/li>\n<li><span style=\"font-weight:700\">Human rights: <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/www.dw.com\/en\/egypt-alaa-abdel-fattahs-sister-re-starts-freealaa-campaign-after-cop27-silence\/a-65023873\" style=\"\">Deutsche Welle<\/a><\/span><span> reports that the sister of <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/enterprise.press\/stories\/2022\/11\/16\/alaa-abdel-fattah-ends-hunger-strike-ft-editors-want-the-west-to-put-diplomatic-and-economic-pressure-on-us-over-human-rights-87849\/\" style=\"\">imprisoned activist Alaa Abdel Fattah<\/a><\/span><span> has restarted her campaign to secure her brother's release, while the <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/www.nytimes.com\/2023\/03\/17\/world\/middleeast\/abdelrahman-elgendy-egypt-prison.html\" style=\"\">New York Times<\/a><\/span><span> of a 27-year-old MFA student, now in the US, who was imprisoned for participating in the 2013 protests. <\/span><\/li>\n<li><span style=\"font-weight:700\">Local table tennis champs going for gold:<\/span><span style=\"\"> Teenager Hana Goda is Africa\u2019s top <\/span><span>table tennis player and one of four Egyptian women in the world top 60 rankings, boosting the sport\u2019s popularity at home. (<\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/www.straitstimes.com\/sport\/table-tennis-egypt-s-rising-stars-eye-medals-on-world-stage\" style=\"\">The Straits Times<\/a><\/span><span>)<\/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\/egypt-turkey-relations\/\">Egypt-Turkey relations<\/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=\"583663\" class=\"issue-section \">\n<div class=\"issue-section__content\">\n<div class=\"stories\">    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"583664\" 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=\"583664\">\r\n            \r\n                <div class=\"issue-story-header text-center\">\r\n                    <div class=\"index-number\">10<\/div>\r\n\r\n                    <p class=\"f-graphik\">Also on our Radar<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2023\/03\/19\/no-final-decision-made-on-grain-treaty-exit-says-el-moselhy-plus-love-for-the-rub-nasser-banks-high-yield-cds-precious-metals-fund\/\">\r\n                            Egypt could u-turn on UN grain treaty exit. PLUS: Love for the RUB, Nasser Bank\u2019s high-yield CDs, precious metals fund                        <\/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\/19\/no-final-decision-made-on-grain-treaty-exit-says-el-moselhy-plus-love-for-the-rub-nasser-banks-high-yield-cds-precious-metals-fund\/\" target=\"_blank\">\n                    Open in new tab                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/new-tab.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a href=\"#\" target=\"_blank\" onclick=\"event.preventDefault(); navigator.clipboard.writeText('https:\/\/enterpriseam.com\/egypt\/2023\/03\/19\/no-final-decision-made-on-grain-treaty-exit-says-el-moselhy-plus-love-for-the-rub-nasser-banks-high-yield-cds-precious-metals-fund\/')\">\n                    Copy Link                <\/a>\n\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a target=\"_blank\" href=\"https:\/\/www.facebook.com\/sharer.php?u=https:\/\/enterpriseam.com\/egypt\/2023\/03\/19\/no-final-decision-made-on-grain-treaty-exit-says-el-moselhy-plus-love-for-the-rub-nasser-banks-high-yield-cds-precious-metals-fund\/\">\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=No final decision made on grain treaty exit, says El Moselhy. 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Officials said earlier this month that Egypt plans to withdraw from the treaty at the end of June because the government doesn\u2019t see any benefits of paying the <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/enterprise.press\/stories\/2023\/03\/16\/authorities-arrest-men-in-connection-with-mohamed-salah-burglary-case-100345\/\" style=\"\">almost USD 58k<\/a><\/span><span> in annual membership fees.<\/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 not looking too good: <\/span><span style=\"\">\u201cWe think that our membership of such organizations is of no use as <\/span><span>new technology made it much easier for us to get all the information we need about grain and wheat markets,\u201d El Moselhy said, pointing to the convention\u2019s failure to provide aid during the spike in food prices last year triggered by the war in Ukraine.<\/span><\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:700\">TRADE<\/span><span style=\"font-weight:700;\">-<\/span><\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:700\">Egypt wants to open the door to more USD-less trade:<\/span><span style=\"\"> As Egypt prepares to <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/enterprise.press\/stories\/2023\/02\/12\/egypt-russia-have-yet-to-make-a-final-decision-on-mir-96510\/\" style=\"\">swap the greenback for the RUB<\/a><\/span><span> to trade with Russia, it is now looking at making similar arrangements with China and India. \u201cEgypt is currently studying exchanging trade with China and India in local currencies in the same way we are working to adopt the RUB and the EGP,\u201d Supply Minister Ali El Mos<\/span><span style=\"font-weight:400;\">elhy said over the weekend.<\/span><\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:700\">Move to the RUB \u201cmoving well\u201d:<\/span><span style=\"\"> \u201cCooperation between Egypt and Russia in local currencies <\/span><span>is now open and receives support from all, but it needs a link between the Central Bank of Egypt and the Russian Federal Bank, and it is technically moving well,\u201d the minister said. The Russian central bank earlier this year <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/enterprise.press\/stories\/2023\/01\/19\/what-wheat-is-to-bread-corn-is-to-chickens-93968\/\" style=\"\">approved the EGP as a trade currency<\/a><\/span><span style=\"font-weight:400;\">, opening the door to the two countries cutting out the USD in bilateral trade. The countries are also exploring swapping goods, allowing Egypt to import Russian wheat in return for exporting oranges, he said.<\/span><\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:700;\">BANKING-<\/span><\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:700\">Nasser Social Bank launches new high-interest savings certificates: <\/span><span style=\"\">State-owned <\/span><span>lender Nasser Social Bank is now offering three-year certificates of deposit (CDs) at 22% and 18-month CDs at 20%, Social Solidarity Minister Nevine El Qabbaj said in <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/www.facebook.com\/EgyptianCabinet\/posts\/pfbid038Psjbei9r2ZqqK8mcK8iYeMBL1ZLEZrvvkPMWmGaBtLijMNFShzqNLcx5yYvpqGhl\" style=\"\">a statement<\/a><\/span><span style=\"font-weight:400;\">. The bank also increased the annual and monthly yields for its senior citizens certificates to 19.25% and 17.75%, respectively. <\/span><\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:700;\">INVESTMENT- <\/span><\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:700\">A precious metals fund? <\/span><span style=\"\">Egypt is working to launch a fund to invest in precious metals <\/span><span>in the coming weeks, Financial Regulatory Authority (FRA) boss Mohamed Farid told <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/bit.ly\/42fb0hg\" style=\"\">Asharq Business<\/a><\/span><span>, without disclosing details. The authority <\/span><span>will soon publish<\/span><span> controls regulating investments funds focused on precious metals, he added. <\/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\/also-on-our-radar\/\">ALSO ON OUR RADAR<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/banking\/\">banking<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/commodities\/\">commodities<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/financial-regulatory-authority\/\">Financial Regulatory Authority<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/grains-trade-convention\/\">Grains Trade Convention<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/trade\/\">trade<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/un\/\">UN<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/wheat\/\">wheat<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                    <\/div>\n    <\/div>\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"583666\" 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=\"583666\">\r\n            \r\n                <div class=\"issue-story-header text-center\">\r\n                    <div class=\"index-number\">11<\/div>\r\n\r\n                    <p class=\"f-graphik\">PLANET FINANCE<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2023\/03\/19\/analysts-now-expect-the-fed-to-raise-rates-when-it-meets-this-week\/\">\r\n                            Federal Reserve to raise interest rates this week, say analysts                        <\/a>\r\n                    <\/h3>\r\n\r\n                    \r\n\t\t\t\t\t\n<div class=\"cta\">\n    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          <\/li>\n        <\/ul>\n    <\/div>\n        <\/div>\r\n                    \r\n                <\/div>\r\n\r\n            \r\n            <div class=\"story__body\">\r\n\r\n                <a href=\"https:\/\/enterpriseam.com\/egypt\/2023\/03\/19\/analysts-now-expect-the-fed-to-raise-rates-when-it-meets-this-week\/\">\r\n                    <div class=\"photo photo--above\">\r\n                        <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2023\/3\/Silicon-Valley-Bank-4-1600.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"583667\" data-permalink=\"https:\/\/enterpriseam.com\/egypt\/2023\/03\/19\/analysts-now-expect-the-fed-to-raise-rates-when-it-meets-this-week\/silicon-valley-bank-4-1600-jpg\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2023\/3\/Silicon-Valley-Bank-4-1600.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"Silicon-Valley-Bank-4-1600.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2023\/3\/Silicon-Valley-Bank-4-1600.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2023\/3\/Silicon-Valley-Bank-4-1600.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-583666\" class=\"content-area-description single-story post-583666 post type-post status-publish format-standard has-post-thumbnail hentry category-planet-finance tag-enterpriseam tag-federal-reserve tag-financial-markets tag-interest-rates tag-planet-finance wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<aside>\t\t\t<div\r\n\t\t\t\t\t\t\t\tclass=\"newspack-popup-container newspack-popup hidden  newspack-inline-popup  newspack-lightbox-no-border   \"\r\n\t\t\t\trole=\"button\"\r\n\t\t\t\ttabindex=\"0\"\r\n\t\t\t\tstyle=\"background-color:#FFFFFF;color:#000\"\r\n\t\t\t\tid=\"id_408150\"\r\n\t\t\t\tdata-segments=\"\"\r\n\t\t\t\tdata-frequency=\"0,0,0,month\"\r\n\t\t\t>\r\n\t\t\t\t\n<div class=\"wp-block-group has-light-gray-background-color has-background\" style=\"padding-top:0px;padding-right:0px;padding-bottom:0px;padding-left:0px\"><div class=\"wp-block-group__inner-container is-layout-constrained wp-container-core-group-is-layout-ef38739e wp-block-group-is-layout-constrained\">\n<div class=\"wp-block-group is-content-justification-center is-nowrap is-layout-flex wp-container-core-group-is-layout-94bc23d7 wp-block-group-is-layout-flex\"><div class=\"wp-block-image\">\n<figure class=\"aligncenter size-full\"><img decoding=\"async\" src=\"https:\/\/ent.news\/internal\/408151.svg\" alt=\"\" class=\"wp-image-408151\"\/><\/figure>\n<\/div><\/div>\n<\/div><\/div>\n\t\t\t<\/div>\r\n\t\t<\/aside>\n<figure class=\"wp-block-audio mb-0\"><audio controls preload=\"metadata\" src=\"https:\/\/s3.us-east-1.amazonaws.com\/ent.news\/audio\/2023\/3\/.9448be92-7dfc-4cbd-8821-bc96e56ef7d2.mp3\"><\/audio><\/figure><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\">It\u2019s looking like a rate hike at the Fed: <\/span><span style=\"\">Wall Street experts are putting their money on <\/span><span>the Federal Reserve moving forward with a 25-bps rate hike during its meeting this week, despite the turmoil in the banking sector, according to <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/www.cnbc.com\/2023\/03\/17\/fed-poised-to-approve-quarter-point-rate-hike-next-week-despite-market-turmoil.html\" style=\"\">CNBC<\/a><\/span><span>. Recent forecasts for the March meeting <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/enterprise.press\/stories\/2023\/03\/16\/the-us-banking-crisis-has-upended-expectations-for-fed-rate-policy-100351\/\" style=\"\">have varied<\/a><\/span><span style=\"font-weight:400;\"> from a 50-bps hike to even a possible rate cut in response to the crisis, which has seen three US banks collapse and left giant Swiss lender Credit Suisse in dire straits. But the consensus now is that the central bank will prioritize maintaining credibility in its fight against inflation, the news outlet writes. <\/span><\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:700\">\u201cThey have to do something, otherwise they lose credibility,\u201d<\/span><span style=\"\"> said one strategist. \u201cThey <\/span><span>want to do 25, and the 25 sends a message. But it\u2019s really going to depend on the comments afterwards, what [Fed chairman] Powell says in public. \u2026 I don\u2019t think he\u2019s going to do the 180-degree shift everybody\u2019s talking about.\u201d<\/span><\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:700\">ALSO WORTH NOTING-<\/span><span style=\"font-weight:700\">Abu Dhabi AI firm G42 buys significant stake in TikTok: <\/span><span style=\"\">G42 snapped up <\/span><span style=\"\">shares <\/span><span>worth more than USD 100 mn in TikTok\u2019s Chinese parent company ByteDance in a transaction that valued the firm at around USD 220 bn \u2014 a c.25% discount to the company\u2019s most recent valuation. (<\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/www.bloomberg.com\/news\/articles\/2023-03-15\/uae-spy-chief-s-firm-buys-into-bytedance-at-220-billion-value?srnd=premium-middle-east&amp;leadSource=uverify%20wall\" style=\"\">Bloomberg<\/a><\/span><span style=\"font-weight:400;\">) <\/span><\/p><p><a id=\"t.4e8471993678f7942ee33a36d6f0d1ff9f24ed5e\"><\/a><a id=\"t.0\"><\/a><\/p><div class=\"stock-ticker-panel\">\n<table class=\"table stock-ticker-table table-striped markets-table\">\n<tr class=\"tr-row-down\">\n<td class=\"td-list-down\">\n<p><svg class=\"e-icon e-TypeMarkets1\"><use xlink:href=\"#e-TypeMarkets1\"><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><span style=\"font-weight:700\">EGX30 <\/span><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><span style=\"font-weight:400;\">14,704<\/span><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><span style=\"font-weight:400;\">-0.1% (YTD: +0.7%)<\/span><\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-none\">\n<td class=\"td-list-none\">\n<p><svg class=\"e-icon e-TypeMarkets\"><use xlink:href=\"#e-TypeMarkets\"><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><span style=\"font-weight:700\">USD (CBE)<\/span><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><span style=\"font-weight:400;\">Buy 30.84<\/span><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><span style=\"font-weight:400;\">Sell 30.94<\/span><\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-none\">\n<td class=\"td-list-none\">\n<p><svg class=\"e-icon e-TypeMarkets\"><use xlink:href=\"#e-TypeMarkets\"><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><span style=\"font-weight:700\">USD at CIB<\/span><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><span style=\"font-weight:400;\">Buy 30.85<\/span><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><span style=\"font-weight:400;\">Sell 30.95<\/span><\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-none\">\n<td class=\"td-list-none\">\n<p><svg class=\"e-icon e-TypeMarkets\"><use xlink:href=\"#e-TypeMarkets\"><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><span style=\"font-weight:700;\">Interest rates CBE<\/span><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><span style=\"font-weight:400;\">16.25% deposit<\/span><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><span style=\"font-weight:400;\">17.25% lending<\/span><\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-down\">\n<td class=\"td-list-down\">\n<p><svg class=\"e-icon e-TypeMarkets1\"><use xlink:href=\"#e-TypeMarkets1\"><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><span style=\"font-weight:700\">Tadawul<\/span><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><span style=\"font-weight:400;\">9,977<\/span><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><span style=\"font-weight:400;\">-0.7% (YTD: -4.8%)<\/span><\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-up\">\n<td class=\"td-list-up\">\n<p><svg class=\"e-icon e-TypeMarkets11\"><use xlink:href=\"#e-TypeMarkets11\"><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><span style=\"font-weight:700\">ADX<\/span><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><span style=\"font-weight:400;\">9,650<\/span><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><span style=\"font-weight:400;\">+2.2% (YTD: -5.5%)<\/span><\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-up\">\n<td class=\"td-list-up\">\n<p><svg class=\"e-icon e-TypeMarkets11\"><use xlink:href=\"#e-TypeMarkets11\"><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><span style=\"font-weight:700\">DFM<\/span><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><span style=\"font-weight:400;\">3,349<\/span><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><span style=\"font-weight:400;\">+1.3% (YTD: +0.4%)<\/span><\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-down\">\n<td class=\"td-list-down\">\n<p><svg class=\"e-icon e-TypeMarkets1\"><use xlink:href=\"#e-TypeMarkets1\"><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><span style=\"font-weight:700\">S&amp;P 500<\/span><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><span style=\"font-weight:400;\">3,917<\/span><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><span style=\"font-weight:400;\">-1.1% (YTD: +2.0%)<\/span><\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-down\">\n<td class=\"td-list-down\">\n<p><svg class=\"e-icon e-TypeMarkets1\"><use xlink:href=\"#e-TypeMarkets1\"><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><span style=\"font-weight:700\">FTSE 100<\/span><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><span style=\"font-weight:400;\">7,335<\/span><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><span style=\"font-weight:400;\">-1.1% (YTD: -1.6%)<\/span><\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-down\">\n<td class=\"td-list-down\">\n<p><svg class=\"e-icon e-TypeMarkets1\"><use xlink:href=\"#e-TypeMarkets1\"><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><span style=\"font-weight:700;\">Euro Stoxx 50<\/span><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><span style=\"font-weight:400;\">4,065<\/span><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><span style=\"font-weight:400;\">-1.3% (YTD: +7.2%)<\/span><\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-down\">\n<td class=\"td-list-down\">\n<p><svg class=\"e-icon e-TypeMarkets1\"><use xlink:href=\"#e-TypeMarkets1\"><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><span style=\"font-weight:700\">Brent crude<\/span><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><span style=\"font-weight:400;\">USD 72.97<\/span><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><span style=\"font-weight:400;\">-2.3%<\/span><\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-down\">\n<td class=\"td-list-down\">\n<p><svg class=\"e-icon e-TypeMarkets1\"><use xlink:href=\"#e-TypeMarkets1\"><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><span style=\"font-weight:700\">Natural gas <\/span><span style=\"font-weight:400;\">(Nymex)<\/span><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><span style=\"font-weight:400;\">USD 2.34<\/span><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><span style=\"font-weight:400;\">-7.0%<\/span><\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-up\">\n<td class=\"td-list-up\">\n<p><svg class=\"e-icon e-TypeMarkets11\"><use xlink:href=\"#e-TypeMarkets11\"><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><span style=\"font-weight:700;\">Gold<\/span><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><span style=\"font-weight:400;\">USD 1,990.20<\/span><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><span style=\"font-weight:400;\">+2.6%<\/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:1.15;text-align:left\"><span style=\"font-weight:700\">BTC<\/span><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><span style=\"font-weight:400;\">USD 27,309<\/span><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><span>+0.6% (YT<\/span><span>D: +65.8%)<\/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 Thursday\u2019s close<\/span><span style=\"\"> on turnover of EGP 2.1 bn (1.6% above the 90-day <\/span><span style=\"font-weight:400;\">average). Foreign investors were net sellers. The index is up 0.7% 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;\">Sidi Kerir Petrochemicals (+7.8%), Elsewedy Electric (+2.9%) and GB Auto (+4.6%).<\/span><\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:700\">In the red: <\/span><span>CIRA Education (-9.5%), Eastern Company (-6.3%) and Orascom Construction (-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\/federal-reserve\/\">Federal Reserve<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/financial-markets\/\">Financial Markets<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/interest-rates\/\">interest rates<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/planet-finance\/\">Planet Finance<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                    <\/div>\n    <\/div>\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"583668\" 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=\"583668\">\r\n            \r\n                <div class=\"issue-story-header text-center\">\r\n                    <div class=\"index-number\">12<\/div>\r\n\r\n                    <p class=\"f-graphik\">Diplomacy<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2023\/03\/19\/egypt-and-turkey-vow-closer-ties-during-talks-in-cairo\/\">\r\n                            Egypt and Turkey vow closer ties during talks in Cairo                        <\/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\/19\/egypt-and-turkey-vow-closer-ties-during-talks-in-cairo\/\" target=\"_blank\">\n                    Open in new tab                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/new-tab.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a href=\"#\" target=\"_blank\" onclick=\"event.preventDefault(); 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In a joint press conference (<\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/www.youtube.com\/watch?v=jK6jte7ve5M&feature=youtu.be\" style=\"\">watch, runtime: 33:24<\/a><\/span><span style=\"font-weight:400;\">) with Turkish foreign minister Mevlut Cavusoglu, Sameh Shoukry said the two had engaged in \u201chonest, deep and transparent\u201d talks and spoke of reappointing ambassadors in both countries. \u201cWe largely agree on most issues. We have to improve bilateral relations in every field from transportation to trade,\u201d said Cavusoglu, who was the first Turkish foreign minister to make an official visit to Egypt in 11 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\">Normalizing relations: <\/span><span style=\"\">Cavusoglu\u2019s visit comes three weeks after <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/enterprise.press\/stories\/2023\/02\/28\/shoukry-looks-to-mend-ties-with-visits-to-quake-hit-syria-turkey-98163\/\" style=\"\">Shoukry traveled to Turkey<\/a><\/span><span>to show support following the earthquakes that hit the south of the country and Syria. The two countries have been inching closer to restoring ties for months, with President El Sisi and Turkish leader Recep Tayyip Erdogan <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/enterprise.press\/stories\/2022\/11\/21\/this-morning-we-could-see-some-final-contracts-being-signed-for-green-hydrogen-projects-by-2q-2023-says-el-said-88310\/\" style=\"\">shaking hands<\/a><\/span><span> in a brief encounter during the 2022 World Cup and Turkish companies last month pledging to <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/enterprise.press\/stories\/2023\/02\/16\/pm-madbouly-meets-turkish-companies-to-drum-up-investment-97072\/\" style=\"\">invest USD 500 mn<\/a><\/span><span style=\"font-weight:400;\"> in Egypt. \u201cTurkey will work to increase diplomatic relations with Egypt \u2026 we will do our best so that relations are never severed again,\u201d Cavusoglu 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;\">ALSO IN DIPLO- <\/span><\/p>\n<ul>\n<li><span style=\"font-weight:700\">Warming defense ties with Qatar?<\/span><span style=\"\"> Qatar\u2019s army chief Salem bin Hamad Al Nabit <\/span><span>called for closer military cooperation with Egypt during the first meeting of the Egyptian-Qatari military committee in Cairo yesterday, the Egyptian Armed Forces said (<\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/www.facebook.com\/watch\/?v=509260331193397\" style=\"\">watch, runtime: 4:21<\/a><\/span><span style=\"font-weight:400;\">). <\/span><\/li>\n<li><span style=\"font-weight:700\">Shoukry calls Cyprus\u2019s new foreign minister:<\/span><span style=\"\"> Foreign Minister Sameh Shoukry <\/span><span>congratulated Constantinos Kombos for becoming Cyprus' new foreign minister in a phone call on Thursday, according to <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/bit.ly\/3LzLQnI\" style=\"\">a ministry statement<\/a><\/span><span style=\"font-weight:400;\">. <\/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\/constantinos-kombos\/\">Constantinos Kombos<\/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-cyprus-relations\/\">Egypt-Cyprus relations<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/egypt-turkey-relations\/\">Egypt-Turkey relations<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/politics\/\">politics<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/sameh-shoukry\/\">Sameh Shoukry<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <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<section id=\"583670\" 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=\"583670\">\r\n            \r\n                <div class=\"issue-story-header text-center\">\r\n                    <div class=\"index-number\">13<\/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\/19\/arab-states-make-offer-to-syrias-assad-wsj\/\">\r\n                            Arab states make offer to Syria\u2019s Assad -WSJ                        <\/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\" 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    <div class=\"story__body\">\r\n\r\n                <a href=\"https:\/\/enterpriseam.com\/egypt\/2023\/03\/19\/arab-states-make-offer-to-syrias-assad-wsj\/\">\r\n                    <div class=\"photo photo--above\">\r\n                        <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2023\/3\/Bashar-al-Assad-X-Shoukry-1600.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"583671\" data-permalink=\"https:\/\/enterpriseam.com\/egypt\/2023\/03\/19\/arab-states-make-offer-to-syrias-assad-wsj\/bashar-al-assad-x-shoukry-1600-jpg\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2023\/3\/Bashar-al-Assad-X-Shoukry-1600.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"Bashar-al-Assad-X-Shoukry-1600.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2023\/3\/Bashar-al-Assad-X-Shoukry-1600.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2023\/3\/Bashar-al-Assad-X-Shoukry-1600.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-583670\" class=\"content-area-description single-story post-583670 post type-post status-publish format-standard has-post-thumbnail hentry category-around-the-world tag-around-the-world tag-bashar-al-assad tag-diplomacy tag-egypt-syria-relations tag-enterpriseam tag-politics 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\/.9448be92-7dfc-4cbd-8821-bc96e56ef7d2.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:700\">Pan-Arab effort to bring Syria back into the fold:<\/span><span style=\"\">Arab states have offered Syrian <\/span><span>president Bashar Al Assad a way out of isolation that would see them provide bns of USD for post-war reconstruction, according to the <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/www.wsj.com\/articles\/arab-nations-seek-to-bring-syria-in-from-the-cold-amid-broad-middle-east-realignment-32858d55?page=1\" style=\"\">Wall Street Journal<\/a><\/span><span style=\"font-weight:400;\">. The countries have also said they will lobby the US and Europe to ease crippling economic sanctions in return for opening talks with opposition groups, accepting Arab troops to protect returning refugees, and curbing Iranian influence in the country. The talks remain at an early stage but Damascus has so far not shown interest in political reform or accepting Arab forces in the country, Syrian, Arab and European officials told the newspaper.<\/span><\/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=\"\"> Foreign Minister Sameh Shoukry <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/enterprise.press\/stories\/2023\/02\/28\/shoukry-looks-to-mend-ties-with-visits-to-quake-hit-syria-turkey-98163\/\" style=\"\">earlier this month<\/a><\/span><span style=\"\"> became the first Egyptian <\/span><span style=\"font-weight:400;\">diplomat to make an official visit to Syria in a decade, a day after House Speaker Hanafi Gibali visited Damascus to discuss bringing the country back inside the Arab League.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:700\">ICC issues arrest warrant for Vladimir Putin: <\/span><span style=\"\">The International Criminal Court on <\/span><span>Friday issued an arrest warrant for Russian president Vladimir Putin and another senior official for allegedly deporting children from Ukraine to Russia. (<\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/www.icc-cpi.int\/news\/situation-ukraine-icc-judges-issue-arrest-warrants-against-vladimir-vladimirovich-putin-and\" style=\"\">ICC<\/a><\/span><span style=\"font-weight:400;\">) <\/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\/around-the-world\/\">Around the World<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/bashar-al-assad\/\">Bashar Al Assad<\/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-syria-relations\/\">Egypt-Syria relations<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/politics\/\">politics<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                    <\/div>\n    <\/div>\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"583672\" 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\/19\/583672\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-583672\" class=\"content-area-description single-story post-583672 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;\">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 style=\"font-weight:400;\">March: IMF to review USD 3 bn program.<\/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>18-20 (Saturday-Monday): Assistant Secretary of State for Near Eastern Affairs Barbara Leaf in 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;\">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>19-20 March (Sunday-Monday): <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/pppmenaforum.com\/\" style=\"\">PPP MENA Forum<\/a><\/span><span style=\"font-weight:400;\">, Nile Ritz-Carlton, 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;\">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;\">22 March (Wednesday): Ramadan trading hours in effect. <\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:400;\">23 March (Thursday): First day of Ramadan (TBC). Maghreb will be at 6:08pm CLT.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:400;\">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 style=\"font-weight:400;\">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: President Abdel Fattah El Sisi's social support measures program to be implemented.<\/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=\"\">11 April (Tuesday): <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/enterprise.press\/stories\/2022\/10\/13\/egas-the-other-pif-plus-news-from-btech-bny-mellon-and-cira-83853\/\" style=\"\">Deadline for NGOs to legalize their status<\/a><\/span><span style=\"\">.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight: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 new Board of Governors,from 22-26 May 2023.\" 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 style=\"font-weight:400;\">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:400;\">30 June (Friday): Egypt to exit Grains Trade Convention.<\/span><\/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;\">August: Hassan Allam Utilities + Agility to open Yanmu East logistics park.<\/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>22-24 August (Tuesday-Thursday): BRICS summit, Johannesburg, South Africa.<\/span><\/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;\">September: IMF to review USD 3 bn program.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight: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 style=\"font-weight:400;\">Summer 2023: EGX to launch a shariah-compliant index.<\/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;\">2H 2023: Egyptian government expected to sign agreements with a consultant for the EuroAfrica electricity interconnector.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"\">4Q 2023: EGX to launch its new futures exchange.<\/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>eMethanex, Enppi and Midor could be back in the government\u2019s privatization plans<\/p>\n","protected":false},"featured_media":583639,"menu_order":0,"template":"","categories":[],"tags":[],"class_list":["post-583638","issue","type-issue","status-publish","has-post-thumbnail","hentry","wpautop","entry"],"acf":{"mongo_id":"f7de5de4-d24b-48bc-b5a8-f6da5d19c94a","teaser":"eMethanex, Enppi and Midor could be back in the government\u2019s privatization plans","photo_url":"https:\/\/ent.news\/2023\/3\/1600-plant-flower-1140x574.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>Elab first up for sale via SFE\u2019s pre-IPO fund -Soliman - 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\/elab-first-up-for-sale-via-sfes-pre-ipo-fund-soliman\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Elab first up for sale via SFE\u2019s pre-IPO fund -Soliman\" \/>\n<meta property=\"og:description\" content=\"eMethanex, Enppi and Midor could be back in the government\u2019s privatization plans\" \/>\n<meta property=\"og:url\" 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