{"id":585768,"date":"2023-04-30T00:00:00","date_gmt":"2023-04-30T00:00:00","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/?post_type=issue&#038;p=585768"},"modified":"2025-12-16T14:22:47","modified_gmt":"2025-12-16T14:22:47","slug":"egypt-will-not-default-says-madbouly-amid-investor-pessimism-on-debt-outlook","status":"publish","type":"issue","link":"https:\/\/enterpriseam.com\/egypt\/issues\/egypt-will-not-default-says-madbouly-amid-investor-pessimism-on-debt-outlook\/","title":{"rendered":"Egypt will not default, says Madbouly amid investor pessimism on debt outlook"},"content":{"rendered":"<section id=\"585770\" 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=\"585770\">\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\/04\/30\/egypt-will-not-default-says-madbouly-amid-investor-pessimism-on-debt-outlook\/\">\r\n                            Egypt will not default, says Madbouly amid investor pessimism on debt outlook                        <\/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\/04\/30\/egypt-will-not-default-says-madbouly-amid-investor-pessimism-on-debt-outlook\/\" 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 upside: We have about 246 days left to hit our budgets. <\/span><\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span><a id=\"wwtt1\"><\/a> <\/span><span style=\"font-weight:700\">PSA- It\u2019s another short work week. <\/span><span style=\"\">Thursday, <\/span><span style=\"\">4 May is of<\/span><span style=\"\">f in observance of Labor <\/span><span>Day, the Manpower Ministry confirmed in <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/www.facebook.com\/EgyptianCabinet\/posts\/pfbid0k9oQvh7Bd6TmmgHe5gkCtVXZdeBkV6hFQ4BaPkWVX8dgV2RGPbDwQgqj6zASCTsCl\" style=\"\">a statement<\/a><\/span><span> Thursday.<\/span><\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"\"><\/span><span style=\"font-weight:700\">THE BIG STORY here at home: <\/span><span style=\"font-weight:700\">Egypt will not default, says Madbouly.<\/span><span style=\"\"> Prime <\/span><span>Minister Moustafa Madbouly moved yesterday to reassure international markets about the sustainability of Egypt\u2019s debt <\/span><span>amid concerns among some investors that Egypt faces a rising risk of default. \u201cI reassure you that the Egyptian state has not failed, nor will it fail, to pay back its international debt,\u201d he said in televised <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/www.facebook.com\/EgyptianCabinet\/posts\/pfbid02ECp9PGngK5Lg4PnHGhpFHWSt4DjPQanEPm61UgQAVYsHHN4T1TmtJ3BEJfdRxCDGl\" style=\"\">statements<\/a><\/span><span> (<\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/www.youtube.com\/watch?v=Pc5-UvG1a_I\" style=\"\">watch, runtime: 29:40<\/a><\/span><span style=\"font-weight:400;\">). \u201cEgypt respects its financial obligations \u2026 so far we have never delayed a debt payment.\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\">Madbouly\u2019s comments come following a tough week in the markets:<\/span><span style=\"\"> The sell-off of Egypt\u2019s <\/span><span>USD bonds accelerated last week as foreign investors continued to take a dim view of the country\u2019s debt outlook. The sell-off was aggravated by S&amp;P Global Ratings\u2019 decision to <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/1180e838-be2d-4297-ac4d-4f179c21b3c1\" style=\"\">cut its outlook<\/a><\/span><span> on Egypt\u2019s credit rating last week, which said that a lack of progress on privatization and reform was putting the country\u2019s ability to meet its external funding needs in jeopardy. <\/span><span style=\"font-weight:400;\">Moody\u2019s jumped in last Wednesday, writing in a note that slow progress on the state\u2019s asset sale program is contributing to \u201cdownside risk to Egypt\u2019s debt affordability and debt sustainability profile.\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\">Madbouly signaled we can expect asset sales by the end of June<\/span><span style=\"\">, saying<\/span><span style=\"\">his <\/span><span>government will start selling off state assets to private-sector investors before the end of the current fiscal <\/span><span>year. The government is aiming to raise up USD 2 bn from asset sales by June, Madbouly said. That\u2019s <\/span><span style=\"\">on par<\/span><span> with the <\/span><span>USD 2.5 bn<\/span><span> June 2023 target to which we\u2019ve committed in our loan agreement with the IMF.<\/span><\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:700\">More companies (including military-owned) to join the program: <\/span><span style=\"\">\u201cThe state will not back <\/span><span>down from the privatization program \u2026 there are more companies joining,\u201d he said, adding that <\/span><span>the state is preparing over 10 military-owned companies for offering. President Abdel Fattah El Sisi <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/21a6e5b6-81e7-478b-b333-61bdc2ae282b\" style=\"\">suggested earlier this year<\/a><\/span><span> that more military firms could be earmarked for privatization. CI Capital has been marketing bottled drinks firm Safi and fuel retailer Wataniya <\/span><span style=\"\">to strategic investors<\/span><span> since the middle of March, <\/span><span style=\"font-weight:400;\">but has made no public comment on the state of the transactions. <\/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 government <\/span><span style=\"-webkit-text-decoration-skip:none;font-weight:700;text-decoration-skip-ink:none\"><a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/a94808c5-7a0c-4027-a786-804f2dc35954\" style=\"\">announced its rebooted, 32 company program<\/a><\/span><span style=\"font-weight:700\"> in February.<\/span><span style=\"font-weight:400;\"> Talks with Gulf sovereign wealth funds on the sale of stakes in United Bank and Telecom Egypt have apparently fallen through amid expectations for a further currency devaluation. Other reports have suggested that our Gulf allies want to see more progress on reforms before investing.<\/span><\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:700\">Could this change now that we\u2019re past Eid?<\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/58d7b1f1-300a-4e3a-a010-68f3b6eab89b\" style=\"\">Several press reports<\/a><\/span><span style=\"\"> recently suggested that <\/span><span>we could move towards the first sale after the Eid break. One unconfirmed report claimed the <\/span><span>sale of United Bank was imminent, while the Public Enterprises Ministry is expected to soon publish the tender booklet for the project to refurbish Cairo\u2019s historic Continental Hotel. <\/span><span style=\"\">Our friends at the Sovereign Fund of Egypt, meanwhile, have taken <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/7962255e-0a9a-480e-b74d-ed26638d156d\" style=\"\">a portfolio of seven five-star hotels to market<\/a><\/span><span style=\"font-weight:400;\">. <\/span><\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:400;\"><\/span><\/p><hr style=\"height:2px;border-width:0;color:gray;background-color:gray\"><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"\"> <\/span><span style=\"font-weight:700\">Subsidized commodities are about to get pricier: <\/span><span style=\"\">The government will start <\/span><span>gradually raising the prices of commodities sold to ration card holders, Supply Minister <\/span><span>Ali El Moselhy said during a presser yesterday (<\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/www.facebook.com\/msitgovegypt\/videos\/778531683844466?locale=ar_AR\" style=\"\">watch, runtime<\/a><\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/www.facebook.com\/msitgovegypt\/videos\/778531683844466?locale=ar_AR\" style=\"\">: 34:06<\/a><\/span><span style=\"font-weight:400;\">). The price review will start \u201cin the coming days,\u201d the minister said, adding that without raising prices \u201cthe government will not be able to fund or provide these commodities.\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\">Food prices are rising at a record rate:<\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/fed48338-9c78-413e-93c0-e2bc59f52ec4\" style=\"\">Inflation jumped 32.7% y-o-y<\/a><\/span><span style=\"\"> in March as prices <\/span><span style=\"font-weight:400;\">continued to accelerate on the back of the series of currency devaluations, the foreign-currency crunch, and higher fuel prices. <\/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 FROM THE PRESSER- Egypt has 2.6 months\u2019 worth of wheat in strategic reserves<\/span><span style=\"\">, <\/span><span style=\"font-weight:400;\">El Moselhy said. The Madbouly government has so far bought 365k tons of wheat during this year\u2019s local harvest, he said. The country has strategic reserves of meat sufficient for 7 weeks, he added.<\/span><\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:700\">AND- Customs exemptions for gold imports? <\/span><span style=\"\">The Supply Ministry is working on a proposal <\/span><span>that would allow <\/span><span style=\"\">Egyptians living abroad<\/span><span> to import gold to Egypt without paying customs duties in a bid to help stabilize the gold market, <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/bit.ly\/3LhDuzo\" style=\"\">El<\/a><\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/bit.ly\/3LhDuzo\" style=\"\">Moselhy<\/a><\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/bit.ly\/3LhDuzo\" style=\"\">said<\/a><\/span><span>. Local gold prices have more than doubled over the past year <\/span><span style=\"\">amid the ongoing foreign exchange crunch.<\/span><\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:700;\">MORNING MUST-READ- <\/span><\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"\"><a id=\"wwtt5\"><\/a> <\/span><span style=\"font-weight:700\">Yuval Noah Harari is really freaked out about AI. <\/span><span style=\"\">The <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/www.amazon.com\/Sapiens-Humankind-Yuval-Noah-Harari\/dp\/0062316095\" style=\"\">Sapiens<\/a><\/span><span style=\"\"> author (particularly popular <\/span><span style=\"font-weight:400;\">among guys over the age of 35 here in Omm El Donia) writes cogently in the Economist that artificial intelligence has \u201chacked the operating system of our civilisation\u201d by having \u201cgained some remarkable abilities to manipulate and generate language, whether with words, sounds or images.\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\">His starting point: \u201cWe have just encountered an alien intelligence, here on Earth. We <\/span><span style=\"font-weight:700\">don\u2019t know much about it, except that it might destroy our civilisation.<\/span><span> We should put a halt to the irresponsible deployment of AI tools in the public sphere, and regulate AI before it regulates us. And the first regulation I would suggest is to make it mandatory for AI to disclose that it is an AI. If I am having a conversation with someone, and I cannot tell whether it is a human or an AI\u2014that\u2019s the end of democracy.\u201d Read <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;font-weight:700;\"><a href=\"https:\/\/www.economist.com\/by-invitation\/2023\/04\/28\/yuval-noah-harari-argues-that-ai-has-hacked-the-operating-system-of-human-civilisation\" style=\"\">Yuval Noah Harari argues that AI has hacked the operating system of human civilization<\/a><\/span><span>. <\/span><\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:700\">HAPPENING TODAY- <\/span><\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span><a id=\"wwtt2\"><\/a> <\/span><span style=\"font-weight:700\">The House <\/span><span style=\"font-weight:700\">is back from its Eid vacation: <\/span><span style=\"\">MPs will spend their first day <\/span><span>back debating and then voting on a bill <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/1dc7496f-1a51-408c-a5e9-ba59d3417de6\" style=\"\">regulating the possession of dangerous animals and dogs<\/a><\/span><span>. The bill would introduce new controls on personal dog ownership, measures to contain the spread of stray animals, and regulations on the possession of dangerous animals. <\/span><span style=\"font-weight:400;\">The bill has momentum after considerable media attention last month to a pitbull attack. <\/span><\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:700\">Among the House committee meetings today<\/span><span style=\"font-weight:700\">: <\/span><\/p><ul>\n<li><span>The <\/span><span style=\"font-weight:700\">Economic Affairs Committee <\/span><span>will discuss ways to market <\/span><span style=\"font-weight:700\">Egyptian exports<\/span><span style=\"font-weight:400;\"> to help increase our FX revenues;<\/span><\/li>\n<li><span>The <\/span><span style=\"font-weight:700\">Industrial Committee <\/span><span>will look into issues facing <\/span><span style=\"font-weight:700\">Port Said and Aswan industrial zones<\/span><span> and discuss the government\u2019s <\/span><span style=\"font-weight:700\">industrial strategy<\/span><span style=\"font-weight:400;\">;<\/span><\/li>\n<li><span>The <\/span><span style=\"font-weight:700\">Environment and Energy Committee <\/span><span>will discuss the government\u2019s policy to expand the <\/span><span style=\"font-weight:700\">use of EVs<\/span><span style=\"font-weight:400;\">;<\/span><\/li>\n<li><span>The <\/span><span style=\"font-weight:700\">Arab Affairs Committee <\/span><span>will look into <\/span><span style=\"font-weight:700\">Egyptian-Iraqi-Emirati-Jordanian economic partnership<\/span><span style=\"font-weight:400;\">;<\/span><\/li>\n<li><span>The <\/span><span style=\"font-weight:700\">SMEs Committee <\/span><span>will review the impact of the<\/span><span style=\"font-weight:700\"> FX crunch<\/span><span style=\"font-weight:400;\"> on SMEs.<\/span><\/li>\n<\/ul><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:700;\">On the House agenda this week:<\/span><\/p><ul>\n<li><span style=\"font-weight:700\">Monday: <\/span><span>The House will vote on <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/0db6db4b-d0a7-42d5-ad0e-45b67777a22c\" style=\"\">amendments to the law regulating the Nuclear Power Plants Authority (NPPA)<\/a><\/span><span>, which would fully exempt from taxes all parties involved in building and operating nuclear projects.<\/span><\/li>\n<li><span style=\"font-weight:700\">Tuesday: <\/span><span style=\"font-weight:400;\">Religious Endowments Minister Mohamed Mokhtar Gomaa will answer questions from MPs on the ministry\u2019s role in reforming religious discourse and improving the finances of mosque clerics. <\/span><\/li>\n<\/ul><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\">AND-<\/span><span style=\"font-weight:700\"> It\u2019s deadline day for e-invoicing registration:<\/span><span style=\"\"> Self-employed professionals who <\/span><span>work with entities required to file electronic invoices need to register on the e-invoicing system by today. The Egyptian Tax Authority earlier this month said it was <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/b9cdcccc-d045-4852-b934-f7e33da5a8c2\" style=\"\">exempting self-employed people who work with end consumers<\/a><\/span><span> from the requirement to file electronic invoices following an outcry from doctors, lawyers and pharmacists.<\/span><\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"\"> <\/span><span style=\"font-weight:700;\">WATCH THIS SPACE- <\/span><\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:700\">#1- AWID is looking at Egypt\u2019s desalination program:<\/span><span>The water infrastructure investment platform <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/3429078d-bd09-4619-9fb2-c4180382c25b\" style=\"\">established by Metito and British International Investment<\/a><\/span><span> earlier this year could be interested in building two desalination plants here, <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/bit.ly\/3NnuOdz\" style=\"\">Al Borsa<\/a><\/span><span> reports, citing <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/www.metito.com\/\" style=\"\">Metito<\/a><\/span><span style=\"font-weight:400;\"> CEO Ramy Ghandour. Africa Water Infrastructure Development (AWID) was set up by the British DFI and Emirati water company in March to invest in water projects across Africa. <\/span><\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:700\">#2- Is Nahr Elkhair Development plotting an IPO?<\/span><span style=\"\"> EGX-listed <\/span><span>Nahr Elkhair Development and Investment is considering listing its EGP 100 mn subsidiary, Al Ahly Group, on the EGX, the company\u2019s co-founder Ahmed Mohamed Sayed told Al Mal TV in an interview on Thursday (<\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/www.youtube.com\/watch?v=kZT2bCNM1Yw\" style=\"\">watch, runtime: 39:56<\/a><\/span><span style=\"font-weight:400;\">.)<\/span><\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:700;\"><\/span><\/p><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;\">HAPPENING THIS WEEK-<\/span><\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span><a id=\"wwtt3\"><\/a> <\/span><span style=\"font-weight:700\">National Dialogue kicks off:<\/span><span style=\"\"> The National Dialogue will hold its first session on Wednesday. <\/span><span style=\"font-weight:400;\">The dialogue was initially set to kick off in January but was postponed after the political parties failed to name their representatives to the sessions on time. <\/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 African Private Equity and Venture Capital Association is holding its annual summit <\/span><span style=\"font-weight:700\">in Cairo this week:<\/span><span> The event will run Monday through to Friday at the Four Seasons Nile Plaza.<\/span><\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"\"><a id=\"wwtt4\"><\/a><\/span><span style=\"font-weight:700\">It\u2019s Fed week:<\/span><span style=\"\"> Analysts expect the Federal Reserve to raise interest rates by 25 bps when it <\/span><span>meets on Tuesday and Wednesday this week, according to <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/www.bloomberg.com\/news\/articles\/2023-04-29\/fed-rates-latest-us-central-bank-seen-hiking-even-as-economic-risks-build?srnd=premium-middle-east\" style=\"\">Bloomberg<\/a><\/span><span>. This would be the tenth consecutive rate hike by the central bank, which is trying to rein in stubbornly high inflation which remains significantly above target.<\/span><\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:700;\">THE BIG STORY ABROAD- <\/span><\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:700\">The race to prevent First Republic from becoming the fourth US bank to co<\/span><span style=\"font-weight:700\">llapse this year:<\/span><span> The Federal Deposit Ins. Corporation (FDIC) has asked interested banks \u2014 JPMorgan Chase, PNC Financial, US Bancorp, and Bank of America \u2014  to submit final bids for embattled US lender First Republic Bank today with the aim of securing a buyer before tomorrow. This comes following a challenging week for the Californian bank which saw its <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/2b1d3e36-bd29-4574-b74f-a2851799b086\" style=\"\">share price tank<\/a><\/span><span> after it reported it suffered larger-than-expected outflows during the banking crisis in March. (<\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/www.reuters.com\/markets\/deals\/first-republic-auction-underway-with-deal-seen-by-sunday-sources-2023-04-29\/\" style=\"\">Reuters<\/a><\/span><span> | <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/www.washingtonpost.com\/business\/2023\/04\/29\/first-republic-bank-fdic\/\" style=\"\">Washington Post<\/a><\/span><span> | <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/www.bloomberg.com\/news\/articles\/2023-04-29\/fdic-asks-jpmorgan-pnc-for-final-first-republic-bids-due-sunday?srnd=premium&amp;leadSource=uverify%20wall\" style=\"\">Bloomberg<\/a><\/span><span> | <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/www.ft.com\/content\/ee1eb0c2-4c4d-47b5-9e55-1cfdbad1d51b\" style=\"\">FT<\/a><\/span><span> | <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/www.wsj.com\/articles\/jpmorgan-pnc-bid-to-buy-first-republic-as-part-of-fdic-takeover-aeb936a0\" style=\"\">Wall Street Journal<\/a><\/span><span> | <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/www.cnbc.com\/2023\/04\/28\/first-republics-stock-poised-to-rise-for-second-day-as-regional-bank-searches-for-rescue-deal.html\" style=\"\">CNBC<\/a><\/span><span style=\"font-weight:400;\">) <\/span><\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:700\">ALSO RECEIVING ATTENTION- <\/span><span style=\"\">A Russian fuel storage facility in Crimea erupted in flames <\/span><span>after being attacked by two Ukranian drones, which a Ukrainian military official called \u201cGod\u2019s punishment\u201d on Russia. The attack destroyed over 10 tanks of oil products for Russia\u2019s Black Sea Fleet. (<\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/www.reuters.com\/world\/europe\/fuel-tank-ablaze-sevastopol-official-says-apparent-drone-attack-2023-04-29\/\" style=\"\">Reuters<\/a><\/span><span> | <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/apnews.com\/article\/russia-ukraine-war-crimea-drone-29218ed006a79c4b0629688ce4820cc8\" style=\"\">AP<\/a><\/span><span> |  <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/www.dw.com\/en\/crimea-blast-gods-punishment-ukraine-says\/a-65472075\" style=\"\">DW<\/a><\/span><span> | <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/www.bbc.com\/news\/world-europe-65434772\" 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:400;\"> <a href=\"https:\/\/exportsfdi.enterprise.press\/registration.html\" target=\"_blank\" rel=\"noopener\"><img data-recalc-dims=\"1\" decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2023\/4\/957.jpg?ssl=1\"><\/a><\/span><\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:700\">The Enterprise Exports &amp; FDI Forum, our latest industry-specific conference, is taking <\/span><span style=\"font-weight:700\">place on Monday, 15 May <\/span><span style=\"font-weight:400;\">at the Four Seasons Cairo Nile Plaza The Enterprise Exports &amp; FDI Forum will give insiders and newcomers alike the chance to talk about how to develop an export-centered business and how their companies can help Egypt build an export-led economy that makes us a magnet for foreign direct investment (FDI).<\/span><\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:700\">Why exports &amp; FDI?<\/span><span> In the wake of successive floats of EGP, exports and FDI have never been more important to our economy \u2014 or our businesses. We\u2019re gathering some of the CEOs, top execs from local companies and multinationals, investors, bankers and finance folks to speak on how businesses can adapt their strategies to be export-oriented and what Egypt as a country can do to draw foreign investment and much-needed FX. <\/span><span style=\"font-weight:700\">Expect it to be heavy on lessons learned in Egypt and other global growth markets \u2014 and lots of success stories.<\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/exportsfdi.enterprise.press\/index.html#aboutSection\" style=\"\">You can learn more on our conference website here<\/a><\/span><span style=\"font-weight:400;\">.<\/span><\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:700\">Some of the biggest names in business and finance are on board \u2014 are you?<\/span><span style=\"font-weight:400;\"> The Enterprise Exports and FDI Forum is taking place with the generous support of our friends, including:<\/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 partners:<\/span><span style=\"font-weight:400;\"> Banque Misr | Al Baraka Bank | Emirates NBD | HSBC <\/span><\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:700\">Lead partners:<\/span><span style=\"font-weight:400;\"> DB Schenker | DP World | East Port Said Development | IDG | IFC | Madinat Masr<\/span><\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:700\">Event partners: <\/span><span>Beyti | Concrete | Global Corp | Grant Thornton | Hassan Allam Utilities <\/span><\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:700\">WANT TO BECOME A COMMERCIAL PARTNER?<\/span><span> Ping a note to <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"mailto:mtaalab@inktankir.com\" style=\"\">Moustafa, our head of commercial, here<\/a><\/span><span style=\"font-weight:400;\">.<\/span><\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:700\">HAVEN\u2019T REQUESTED AN INVITE YET?<\/span><span> If you\u2019re a C-suite exec, business owner, DFI staff, export executive, investor or banker, please <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/exportsfdi.enterprise.press\/registration.html\" style=\"\">fill out the form here<\/a><\/span><span style=\"font-weight:400;\"> to signal your interest, letting us know your name, title and where you work.<\/span><\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:700\">CIRCLE YOUR CALENDAR-<\/span><\/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>\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\/economy\/\">economy<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/moustafa-madbouly\/\">Moustafa Madbouly<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/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=\"585771 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=\"585771\">\r\n            \r\n            <div class=\"story__body\">\r\n\r\n                <a href=\"https:\/\/enterpriseam.com\/egypt\/2023\/04\/30\/585771\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-585771\" class=\"content-area-description single-story post-585771 post type-post status-publish format-standard hentry category-advertiser wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<p><span style=\"font-weight:400;\"><a href=\"https:\/\/somabay.com\/\" target=\"_blank\" rel=\"noopener\"><img data-recalc-dims=\"1\" decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2023\/4\/947.jpg?ssl=1\"><\/a><\/span><\/p><div class=\"grouped-tags\">\n<p><span>Kokomo now o<\/span><span style=\"font-weight:400;\">pen at Somabay Red Sea: Indulge in our slow-cooking methods and natural wood smoke to bring out the best in each ingredient, resulting in dishes that are both tender and flavorful. From our smoked briskets to our paellas, every dish is a tribute to the timeless tradition of cooking over an open flame, creating a unique dining experience that is sure to impress.<\/span><\/p>\n<p><span style=\"font-weight:400;\">Visit Kokomo at the S.Cape Beach daily from 12pm until 6pm, and Kokomo at Marina daily from 6pm until 12am. For more information, please call 012 0033 3111 or 012 0044 4111.<\/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=\"585772\" 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=\"585772\">\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\">WAR WATCH<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2023\/04\/30\/more-than-16k-people-cross-into-egypt-as-sudan-fighting-rages\/\">\r\n                            More than 16k people cross into Egypt as Sudan fighting rages                        <\/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\/04\/30\/more-than-16k-people-cross-into-egypt-as-sudan-fighting-rages\/\" 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 two sides had on Thursday <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/www.facebook.com\/sudanese.armed.forces\/posts\/pfbid0AP1UNspaE3x3FXpZMGcsKGpCxnEM6pXHmt6aSvLwtRnPat9KotAF8xrxRA3gMwH1l\" style=\"\">decided to extend ithe ceasefire for another 72 hours<\/a><\/span><span>,<\/span><span style=\"font-weight:400;\"> but street battles were ongoing as of last night, with the newswire reporting clashes close to the presidential palace and the army HQ.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:700\">In numbers: <\/span><span style=\"\">The conflict has so far killed 528 people and injured 4.6k others, according to the <\/span><span>latest numbers by the <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/www.facebook.com\/FMOH.SUDAN\/posts\/pfbid02RDupzX8tyPa96CnUobDAVTVprirQpJ5rPGAeCJ2TmpsubjxYMSmXjTMTN6oSUE8yl\" style=\"\">Sudanese Health Ministry<\/a><\/span><span>. These figures could get much worse in the event of a protracted conflict, as per <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/94c0938e-85d0-4491-b3e6-5e6eabe47889\" style=\"\">comments made by WHO officials<\/a><\/span><span> last week. The UN Refugee Agency on Friday put the number of internally-displaced people from Khartoum at <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/www.unhcr.org\/neu\/98685-sudan-unhcr-warns-forcibly-displaced-are-facing-worsening-risks-in-sudan.html\" style=\"\">around 40k<\/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\">UN envoy voices optimism: <\/span><span style=\"\">The two sides are \u201cmore open to negotiations\u201d but are yet to settle <\/span><span>on a date for talks, the UN\u2019s special representative in Sudan, Volker Perthes, told <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/www.reuters.com\/world\/africa\/un-envoy-sees-sudan-combatants-more-open-talks-2023-04-29\/\" style=\"\">Reuters<\/a><\/span><span style=\"font-weight:400;\">. \u201cThey both think they will win, but they are both sort of more open to negotiations, the word \u2018negotiations\u2019 or \u2018talks\u2019 was not there in their discourse in the first week or so,\u201d he said.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:700\">A warning from Sudan\u2019s deposed ex-PM:<\/span><span style=\"\"> Conflict in Sudan could be a \u201cnightmare for the <\/span><span>world,\u201d <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/www.bbc.com\/news\/world-africa-65436815\" style=\"\">the BBC<\/a><\/span><span style=\"font-weight:400;\"> reports former Sudanese Prime Minister Abdalla Hamdok as saying at a conference in Kenya yesterday. \u201cThis is not a war between an army and a small rebellion. It is almost like two armies \u2014 well trained and well armed,\u201d he said, warning that the conflict could become worse than that in Syria or in Libya. Hamdok served as the country\u2019s prime minister in the joint civilian-military government that came to power following the removal of the Bashir regime in 2020.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:700;\">HERE 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:700\">More than 16k people from Sudan have crossed the border into Egypt<\/span><span style=\"\"> since the <\/span><span>conflict began, according to figures released by the <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/www.facebook.com\/EgyptianCabinet\/posts\/pfbid034R8xfM8uNsu6sdiPERSwcqQThN8NieKL96xQ9u5BXH4kGzNSNKktgPH84kAi7kpml\" style=\"\">Foreign Ministry<\/a><\/span><span style=\"font-weight:400;\"> yesterday. More than 14k Sudanese refugees are now in the country, while some 2k people of other nationalities crossed the border, 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\">And thousands more want to enter:<\/span><span style=\"\"> Sudanese families fleeing the violence are continuing to <\/span><span>gather at the Egypt-Sudan border, with <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/www.rfi.fr\/en\/international-news\/20230429-fighting-enters-third-week-in-sudan-despite-new-truce\" style=\"\">satellite imagery<\/a><\/span><span style=\"font-weight:400;\"> yesterday showing a long queue of buses lining up at the checkpoint.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:700\">Egypt has relaxed visa rules for Sudanese citizens<\/span><span style=\"\"> and is allowing women, children and <\/span><span style=\"font-weight:400;\">men over 50 into the country without a visa. Men aged between 16 and 49 are still required to have a visa. <\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:700\">More Egyptians evacuated: <\/span><span style=\"\">Officials rescued another 1k Egyptian citizens on Friday, bringing <\/span><span>the total number to 6.4k, the Foreign Ministry <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/www.facebook.com\/EgyptianCabinet\/posts\/pfbid02PTUK3wv6Uwn44cMBoQ8QjMMA8SEMYYcR9iEEqCCzx7FBWKfcvEpiiZNmh5mnDE8wl?__cft__[0]=AZVvfW-8jI1GWjx7ueYZqFr4z7LFcdeMnSO1KjljxmCs3slWv7hlxtjY93M4YcJFfS2otFtA03dGKtsOpAYLX45yvZooW1_cQ3m_mUCs2Yk6PXJbkkw86OC2zDEbXUE47Ucnu-7bIs8b1jWJnWCbAMB0CVD5V7hh1QokR-z_7BI4HpbWdKj6AdDB3TbeZ-_FpczZSBXDAZ3LNEKrz_Q0FrnR&__tn__=%2CO%2CP-R\" style=\"\">said<\/a><\/span><span>. The ministry will soon stop evacuating people at the Sudanese Wadi Seidna Air Base due to security risks, it said in a <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/www.facebook.com\/EgyptianCabinet\/posts\/pfbid02f4PQQVHknpU4TX2tHSGjA8MJGgNDBS34w6esvssmNyZqCpkpH2XLpZZUPXezhyBHl\" style=\"\">statement<\/a><\/span><span style=\"font-weight:400;\">, calling on those still in Sudan to head to one of three meeting points to arrange their departure as soon as possible.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:700\">Two injured in the fighting<\/span><span style=\"font-weight:700\">:<\/span><span style=\"\">Two Egyptian students have been seriously injured by shrapnel, <\/span><span>the <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/www.facebook.com\/Moemigegy\/posts\/pfbid02C2ZprzKD7nF5VqXQDUUnFydN6ygMdSuRyBEs1XnkDivg25mpAq2atPbG75HacB7ql\" style=\"\">Emigration Ministry said<\/a><\/span><span style=\"font-weight:400;\"> Friday. They are being airlifted out of the country at Port Sudan.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:700\">Shoukry continues diplomatic efforts: <\/span><span style=\"\">Foreign Minister Sameh Shoukry held talks with his <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/www.facebook.com\/EgyptianCabinet\/posts\/pfbid0wuVQPkAQWQGBrERrgs1rqqVqKbhjv9bqNZ75FwjRYmDnDCfeJMs8qVFxAAKSvbzLl\" style=\"\">South Sudanese<\/a><\/span><span> and <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/www.facebook.com\/EgyptianCabinet\/posts\/pfbid0UmSn2hAhvB4Wm2vJTiq72hMs11FVAZmT6bCR39jNfLpcUiGjzDYceaykXo5QFdbvl\" style=\"\">British<\/a><\/span><span style=\"font-weight:400;\"> counterparts, where he highlighted the necessity of ending the ongoing violence. UK Foreign Secretary James Cleverly expressed his appreciation for the Egyptian efforts to help evacuate British citizens from Sudan.<\/span><\/p>\n\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/2023-sudan-conflict\/\">2023 Sudan conflict<\/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-sudan-relations\/\">Egypt-Sudan relations<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/war-watch\/\">war 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=\"585774\" 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=\"585774\">\r\n            \r\n                <div class=\"issue-story-header text-center\">\r\n                    <div class=\"index-number\">3<\/div>\r\n\r\n                    <p class=\"f-graphik\">Economy<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2023\/04\/30\/economy-set-to-grow-4-0-this-fiscal-year-reuters\/\">\r\n                            Egyptian economy to grow 4.0% in FY 2022-2023 -Reuters poll                        <\/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\/04\/30\/economy-set-to-grow-4-0-this-fiscal-year-reuters\/\" 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\/04\/30\/economy-set-to-grow-4-0-this-fiscal-year-reuters\/')\">\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\/04\/30\/economy-set-to-grow-4-0-this-fiscal-year-reuters\/\">\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=Economy set to grow 4.0% this fiscal year -Reuters&url=https:\/\/enterpriseam.com\/egypt\/2023\/04\/30\/economy-set-to-grow-4-0-this-fiscal-year-reuters\/\">\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\/04\/30\/economy-set-to-grow-4-0-this-fiscal-year-reuters\/&title=Economy set to grow 4.0% this fiscal year -Reuters\">\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=Economy+set+to+grow+4.0%25+this+fiscal+year+-Reuters+https%3A%2F%2Fenterpriseam.com%2Fegypt%2F2023%2F04%2F30%2Feconomy-set-to-grow-4-0-this-fiscal-year-reuters%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\/04\/30\/economy-set-to-grow-4-0-this-fiscal-year-reuters\/\">\r\n                    <div class=\"photo photo--above\">\r\n                        <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2023\/4\/953.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"585775\" data-permalink=\"https:\/\/enterpriseam.com\/egypt\/2023\/04\/30\/economy-set-to-grow-4-0-this-fiscal-year-reuters\/953-jpg-2\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2023\/4\/953.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"953.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2023\/4\/953.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2023\/4\/953.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-585774\" class=\"content-area-description single-story post-585774 post type-post status-publish format-standard has-post-thumbnail hentry category-economy tag-economy tag-enterpriseam tag-gdp tag-inflation tag-interest-rates wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<figure class=\"wp-block-audio mb-0\"><audio controls preload=\"metadata\" src=\"https:\/\/s3.us-east-1.amazonaws.com\/ent.news\/audio\/2023\/5\/.ead7bdf5-9fca-4818-8887-9a4b76f203e7.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\">Egypt\u2019s economy will grow at a 4.0% clip in the current fiscal year<\/span><span style=\"\">,<\/span><span style=\"\">per the <\/span><span>median forecast in an April poll conducted by <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/www.reuters.com\/world\/africa\/egypts-economy-seen-growing-4-this-fiscal-year-currency-weakens-2023-04-27\/#:~:text=CAIRO%2C%20April%2027%20(Reuters),forecast%20for%20the%20current%20year.\" style=\"\">Reuters<\/a><\/span><span>. The figure is in line with the latest <\/span><span style=\"\">expectations from the <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/b03aea9c-e969-4c2b-b3fa-81b070dd812d\" style=\"\">government<\/a><\/span><span style=\"\">, <\/span><span style=\"\">the <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/ee8ce1f3-29e5-4eba-99f3-e3fbea436095\" style=\"\">World Bank<\/a><\/span><span style=\"\"> and <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/1180e838-be2d-4297-ac4d-4f179c21b3c1\" style=\"\">S&P Global Ratings<\/a><\/span><span style=\"\">, all<\/span><span style=\"\"> of whom have revised their forecasts for the country\u2019s GDP growth downwards in recent weeks as global economic headwinds continue to impact us here at home. A January Reuters poll had predicted <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/c07707c9-cb74-42d5-9e9c-3207f3a64a2d\" style=\"\">growth of 4.8%<\/a><\/span><span style=\"font-weight:400;\"> this fiscal year, which ends in 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:700\">Looking ahead:<\/span><span style=\"font-weight:400;\"> The Reuters poll predicts growth to pick up to 4.5% next fiscal year and 5.0% in FY 2024-2025. The economy grew at a 6.6% clip last fiscal 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\">More predictions from the poll:<\/span><\/p>\n<ul>\n<li><span style=\"font-weight:400;\">Headline inflation will average 24.0% in FY 2022-2023 and 20.9% next year before falling back to 9.3% the year after; <\/span><\/li>\n<li><span style=\"\">The EGP will weaken to<\/span><span style=\"font-weight:400;\"> USD 34 by the end of this year, USD 35 by the end of 2024, and USD 35.07 by the end of 2025; <\/span><\/li>\n<li><span style=\"\">Interest rates will rise by another 50 bps to 19.75% by the end of this fiscal year before falling back to 18<\/span><span style=\"\">.25<\/span><span style=\"font-weight:400;\">% by end-FY 2023-2024 and 13.75% by end-FY 2024-2025.<\/span><\/li>\n<\/ul>\n\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/economy\/\">economy<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/gdp\/\">GDP<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/inflation\/\">inflation<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/interest-rates\/\">interest rates<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                    <\/div>\n    <\/div>\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"585776 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=\"585776\">\r\n            \r\n            <div class=\"story__body\">\r\n\r\n                <a href=\"https:\/\/enterpriseam.com\/egypt\/2023\/04\/30\/585776\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-585776\" class=\"content-area-description single-story post-585776 post type-post status-publish format-standard hentry category-advertiser wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<p><span style=\"font-weight:400;\"><a href=\"https:\/\/www.grantthornton.global\/en\/locations\/Egypt\/\" target=\"_blank\" rel=\"noopener\"><img data-recalc-dims=\"1\" decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2023\/3\/674.png?ssl=1\"><\/a><\/span><\/p>\n\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"585777\" 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=\"585777\">\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\">Trade<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2023\/04\/30\/govt-to-hand-out-another-egp-10-bn-in-export-subsidies\/\">\r\n                            Egypt to launch EGP 10 bn new phase of export subsidy program                        <\/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\/04\/30\/govt-to-hand-out-another-egp-10-bn-in-export-subsidies\/\" 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\/04\/30\/govt-to-hand-out-another-egp-10-bn-in-export-subsidies\/')\">\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\/04\/30\/govt-to-hand-out-another-egp-10-bn-in-export-subsidies\/\">\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=Gov\u2019t to hand out another EGP 10 bn in export subsidies&url=https:\/\/enterpriseam.com\/egypt\/2023\/04\/30\/govt-to-hand-out-another-egp-10-bn-in-export-subsidies\/\">\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\/04\/30\/govt-to-hand-out-another-egp-10-bn-in-export-subsidies\/&title=Gov\u2019t to hand out another EGP 10 bn in export subsidies\">\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=Gov%E2%80%99t+to+hand+out+another+EGP+10+bn+in+export+subsidies+https%3A%2F%2Fenterpriseam.com%2Fegypt%2F2023%2F04%2F30%2Fgovt-to-hand-out-another-egp-10-bn-in-export-subsidies%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\/04\/30\/govt-to-hand-out-another-egp-10-bn-in-export-subsidies\/\">\r\n                    <div class=\"photo photo--above\">\r\n                        <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2023\/4\/950.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"585778\" data-permalink=\"https:\/\/enterpriseam.com\/egypt\/2023\/04\/30\/govt-to-hand-out-another-egp-10-bn-in-export-subsidies\/950-jpg\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2023\/4\/950.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"950.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2023\/4\/950.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2023\/4\/950.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-585777\" class=\"content-area-description single-story post-585777 post type-post status-publish format-standard has-post-thumbnail hentry category-trade tag-enterpriseam tag-export-subsidy-fund tag-finance-ministry tag-subsidies tag-trade wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<figure class=\"wp-block-audio mb-0\"><audio controls preload=\"metadata\" src=\"https:\/\/s3.us-east-1.amazonaws.com\/ent.news\/audio\/2023\/4\/.21ce54b9-c18f-4b17-9a17-681553e835de.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\">The government is set to launch the sixth phase of its export subsidy <\/span><span style=\"font-weight:700\">program<\/span><span>, <\/span><span>through which it plans to pay out some EGP 10 bn worth of overdue subsidies to exporters, according to a <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/www.facebook.com\/EgyptianCabinet\/posts\/pfbid0HX8hyPmxc1yfwaWvVERSnKfD7qx2dcsNi5wyk8z5XceTyc6yPeFv9SMBJCQZVXhxl\" style=\"\">Finance Ministry<\/a><\/span><span> statement. Cabinet last week <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/bit.ly\/40ExJRP\" style=\"\">approved<\/a><\/span><span style=\"font-weight:400;\"> the sixth phase of the program. <\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:700\">The timeline:<\/span><span style=\"font-weight:400;\"> Companies who have their documents ready can apply in a first phase from 7-11 May and will receive their payments on 5-6 July. Those that are still in the process of preparing their documents can apply between 17-31 May and will receive their subsidy payments on either 19-20 July or 2-3 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:700\">REMEMBER-<\/span><span> The government in December <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/700c8f08-d61a-47f2-b0e5-7cb9d98e2056\" style=\"\">wrapped the fifth phase<\/a><\/span><span style=\"font-weight:400;\"> of the program, which allows exporters to receive overdue subsidies in a single payment rather than in installments over four to five years, in return for a haircut. Under the program, the Export Development Fund has paid out a total EGP 42.5 bn in subsidy arrears.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:700\">More export subsidies coming:<\/span><span style=\"\"> A <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/4a9911fa-f611-4c6c-baf3-e13627e029ef\" style=\"\">new program<\/a><\/span><span style=\"\"> is coming in July that will see the government <\/span><span>up its spend on export subsidies to EGP 28-30 bn, from EGP 8 bn in the current fiscal year<\/span><span style=\"\">, cabinet <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/eabbb6a3-3a5e-4df9-9910-a489d4ba7f32\" style=\"\">said<\/a><\/span><span style=\"font-weight:400;\"> last month.<\/span><\/p>\n\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/export-subsidy-fund\/\">export subsidy fund<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/finance-ministry\/\">Finance Ministry<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/subsidies\/\">subsidies<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/trade\/\">trade<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                    <\/div>\n    <\/div>\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"585779\" 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=\"585779\">\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\">EARNINGS WATCH<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2023\/04\/30\/mashreq-net-income-more-than-doubles-in-1q-2023\/\">\r\n                            UAE lender Mashreq\u2019s net income more than doubles in 1Q 2023                        <\/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\/04\/30\/mashreq-net-income-more-than-doubles-in-1q-2023\/\" 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 strong bottom-line growth was driven by a rise in net interest income, which doubled y-o-y to AED 1.7 bn in the January-March quarter, as well as a 64% rise in fee and commission income.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:700\">Bank sees steady loan + deposit growth:<\/span><span style=\"font-weight:400;\"> Mashreq\u2019s loan portfolio rose 6% y-o-y during the quarter to AED 91.1 bn, the bank said. Meanwhile, deposits increased 6% to AED 120.2 bn.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:700\">What they said:<\/span><span> \u201cI am delighted to announce Mashreq\u2019s strong financial performance in 1Q 2023, a testament to our ability to adapt to changing market conditions,\u201d said our friend Ahmed Abdelaal, Mashreq\u2019s group CEO. <\/span><span style=\"font-weight:400;\">\u201cThe progress made in product expansion and geographic reach during 1Q marks a crucial milestone for the bank, with the approval of a digital license in Pakistan and considerable expansion in Egypt,\u201d Chairman Abdul Azaz Al Ghurair said.<\/span><\/p>\n\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/banking\/\">banking<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/earnings-watch\/\">earnings watch<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/mashreq\/\">Mashreq<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                    <\/div>\n    <\/div>\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"585781 advertiser\" class=\"issue-section enterprise-adv\">\n<div class=\"issue-section__content\">\n<div class=\"stories\">            <!-- Show divider before story section -->\r\n        <div \r\n            class=\"\r\n                            \"\r\n            id=\"585781\">\r\n            \r\n            <div class=\"story__body\">\r\n\r\n                <a href=\"https:\/\/enterpriseam.com\/egypt\/2023\/04\/30\/585781\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-585781\" class=\"content-area-description single-story post-585781 post type-post status-publish format-standard hentry category-advertiser wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<p><span style=\"font-weight:400;\"><a href=\"https:\/\/www.sodic.com\/\" target=\"_blank\" rel=\"noopener\"><img data-recalc-dims=\"1\" decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2023\/4\/356.jpg?ssl=1\"><\/a><\/span><\/p>\n\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"585782\" 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=\"585782\">\r\n            \r\n                <div class=\"issue-story-header text-center\">\r\n                    <div class=\"index-number\">6<\/div>\r\n\r\n                    <p class=\"f-graphik\">LAST NIGHT\u2019S TALK SHOWS<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2023\/04\/30\/last-nights-talk-shows-the-latest-on-sudan-and-our-economy\/\">\r\n                            Egyptian talk shows cover the situation in Sudan and what it means for Egypt                        <\/a>\r\n                    <\/h3>\r\n\r\n                    \r\n\t\t\t\t\t\n<div class=\"cta\">\n    <div class=\"cta__btn share-dropdown-cta dropdown-toggle-btn\" style=\"position:relative\">\n        <img decoding=\"async\" src=\"https:\/\/ent.news\/internal\/408834.svg\" alt=\"\">\n        Share Story\n        <!-- Dropdown Menu -->\n        <ul class=\"share-menu\">\n            <li class=\"list-inline-item\">\n                <a href=\"https:\/\/enterpriseam.com\/egypt\/2023\/04\/30\/last-nights-talk-shows-the-latest-on-sudan-and-our-economy\/\" 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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They brought us coverage of the ongoing conflict in Sudan, the latest developments in our economy, and the fast-approaching return of the National Dialogue. <\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:700\">What does the situation in Sudan mean for Egypt? <\/span><span style=\"\">The fighting will likely impact the <\/span><span>Sudanese stance on the Grand Ethiopian Renaissance Dam (GERD), <\/span><span>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=XMtA5sVn9Rs\" style=\"\">watch, runtime: 5:11<\/a><\/span><span> | <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/www.youtube.com\/watch?v=MQ0FFq1Tqqk\" style=\"\">4:39<\/a><\/span><span>). Sudan has been backing us in our stance against the dam since day one, she said \u2014 any change could have significant consequences for Egypt and the region. <\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:700\">Wondering what the trip from Sudan to Egypt looks like? <\/span><span style=\"\">El Hadidi took us to the <\/span><span>Egyptian-Sudanese border, where thousands of Sudan\u2019s residents have crossed into Egypt (<\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/www.youtube.com\/watch?v=yw5aj71E93k\" style=\"\">watch, runtime:12:05<\/a><\/span><span>). The Argeen border crossing now sees members of the Egyptian Red Crescent on site to offer assistance, she said. Meanwhile, in an interview on El Hekaya, Egyptian Red Crescent CEO Rami Al Nazer said the organization is providing psychological support services for children and the elderly (<\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/www.youtube.com\/watch?v=S7aiT01CGMQ\" style=\"\">watch, runtime: 5:49<\/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\">More coverage: <\/span><span style=\"\">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=4Oh9NTPSifo\" style=\"\">watch, runtime: 3:19<\/a><\/span><span style=\"\">) and Masa\u2019a DMC (<\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/www.youtube.com\/watch?v=BLCJOKiB9JU\" style=\"\">watch, runtime:<\/a><\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/www.youtube.com\/watch?v=BLCJOKiB9JU\" style=\"\">8:56<\/a><\/span><span style=\"font-weight:400;\">) had coverage of Egyptian authorities\u2019 efforts to ensure the safe return of Egyptians in Sudan. <\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:700\">Cabinet spox made the rounds: <\/span><span style=\"\">Cabinet spokesman Nader Saad joined Masa\u2019a DMC (<\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/www.youtube.com\/watch?v=d1ALhlbu5ao\" style=\"\">watch,<\/a><\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/www.youtube.com\/watch?v=d1ALhlbu5ao\" style=\"\">runtime: 7:00<\/a><\/span><span>) and 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=vQXLKtR4Mlo\" style=\"\">watch, runtime: 5:45<\/a><\/span><span>) to reiterate Prime Minister Moustafa Madbouly\u2019s statements yesterday where he highlighted Egypt\u2019s ability to meet its international obligations. Madbouly\u2019s speech was a \u201cmessage of reassurance to Egyptians and the global community,\u201d Saad said. The National Dialogue\u2019s Samir Sabry also joined 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=XGfOaUnSifM\" style=\"\">watch, runtime: 3:03<\/a><\/span><span style=\"font-weight:400;\">) to weigh in on Madbouly\u2019s statement, which we cover in detail in this morning\u2019s What We\u2019re Tracking Today, above.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:700\">\u201cGold is a long term investment,\u201d<\/span><span style=\"\"> Assistant Supply Minister Ibrahim Ashmawy told El Hekaya <\/span><span>(<\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/www.youtube.com\/watch?v=PHIPMQ-4tYw\" style=\"\">watch, runtime: 4:05<\/a><\/span><span> | <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/www.youtube.com\/watch?v=kBCIuA60iYY\" style=\"\">4:26<\/a><\/span><span style=\"font-weight:400;\">), adding that prices may see-saw in the short term but gold is always an appreciating asset. His comments came in response to Supply Minister Ali El Moselhy\u2019s comments yesterday advising people not to sell their gold and his proposal to waive customs fees on gold imports for Egyptian expats in efforts to bring in more gold into the market and help balance prices. <\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:700\">Gold prices have soared amid uncertainty over the EGP:<\/span><span style=\"\">21-carat gold is currently trading at <\/span><span>EGP 2.7k<\/span><span> per gram, more than <\/span><span>double <\/span><span>the<\/span><span> EGP 1.1k <\/span><span style=\"font-weight:400;\">it was trading at a year ago, as Egyptians look to the precious metal to protect their savings amid a shortage of foreign currency and weakening EGP. <\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:700\">What can we expect from the National Dialogue? <\/span><span style=\"\">The National Dialogue will finally launch on <\/span><span>Wednesday, bringing together various political parties, experts, officials, and the three main political, economic and social committees. 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=g_0oWkC_kLc\" style=\"\">watch, runtime: 5:01<\/a><\/span><span>) and Masa\u2019a DMC (<\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/www.youtube.com\/watch?v=eQJqd8cGF-U\" style=\"\">watch, runtime: 4:40<\/a><\/span><span style=\"font-weight:400;\">) had coverage.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span>  <\/span><\/p>\n\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/economy\/\">economy<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                           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size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"585786\" data-permalink=\"https:\/\/enterpriseam.com\/egypt\/2023\/04\/30\/war-in-sudan-the-cleopatra-controversy-are-dominating-intl-headlines\/951-jpg-2\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2023\/4\/951.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"951.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2023\/4\/951.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2023\/4\/951.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-585785\" class=\"content-area-description single-story post-585785 post type-post status-publish format-standard has-post-thumbnail hentry category-egypt-in-the-news tag-2023-sudan-conflict tag-ancient-egypt tag-enterpriseam tag-history wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<figure class=\"wp-block-audio mb-0\"><audio controls preload=\"metadata\" src=\"https:\/\/s3.us-east-1.amazonaws.com\/ent.news\/audio\/2023\/4\/.122110f1-74cb-4ef5-990c-31d14c6ed179.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\">South of the border:<\/span><span style=\"\"> The situation on the Egyptian-Sudanese border is getting a lot of attention this morning as people in Sudan flee the fighting in Khartoum. <\/span><span>The <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/apnews.com\/article\/sudan-conflict-albashir-truce-dfc21361064ad0e8a3cc26a7f6663dce\" style=\"\">Associated Press<\/a><\/span><span>, <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/www.washingtonpost.com\/world\/2023\/04\/28\/sudan-fighting-egypt-border-refugees\/\" style=\"\">the Washington Post<\/a><\/span><span> and <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/www.theguardian.com\/world\/2023\/apr\/29\/sudan-refugees-khartoum-egypt-border-crossing\" style=\"\">the Guardian<\/a><\/span><span> all report on the <\/span><span>struggle of Sudanese refugee<\/span><span style=\"font-weight:400;\">s to cross the border into 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:700\">The Queen Cleopatra debacle drags on: <\/span><span style=\"\">Secretary-General of the Supreme <\/span><span>Council of Antiquities Mostafa Waziri <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/www.facebook.com\/tourismandantiq\/posts\/pfbid0BtNpd1cGvXcbKUPEyRPtzdjokkR4qsyWar7ENp6fkcahgZaGJPH6tTAikM2cZvHnl\" style=\"\">criticized<\/a><\/span><span> the <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/1ecaf748-4681-4f97-9b54-21c93a3f4b00\" style=\"\">depiction of Cleopatra<\/a><\/span><span> as a black woman in Netflix\u2019s upcoming docudrama. (<\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/english.alarabiya.net\/life-style\/entertainment\/2023\/04\/28\/Cleopatra-had-white-skin-Egyptian-ministry-says-in-response-to-Netflix-docuseries\" style=\"\">AFP<\/a><\/span><span> | <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/www.theguardian.com\/tv-and-radio\/2023\/apr\/28\/cleopatra-was-light-skinned-egypt-tells-netflix-in-row-over-drama\" style=\"\">The Guardian<\/a><\/span><span> | <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/news.yahoo.com\/egypt-antiquities-ministry-says-cleopatra-083043512.html\" style=\"\">The Independent<\/a><\/span><span> | <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/www.nbcnews.com\/news\/world\/queen-cleopatra-black-egypt-netflix-series-rcna81924\" style=\"\">NBC<\/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\">Lost at sea:<\/span><span style=\"\"> A yacht with two Egyptians onboard made it safely to Djibouti after <\/span><span style=\"\">going <\/span><span>missing for several days following an attack off the coast of Yemen. <\/span><span>(<\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/www.washingtonpost.com\/world\/2023\/04\/27\/red-sea-missing-yacht-russia\/a19b2e50-e501-11ed-9696-8e874fd710b8_story.html\" style=\"\">Associated Press<\/a><\/span><span>)<\/span><\/p>\n\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/2023-sudan-conflict\/\">2023 Sudan conflict<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/ancient-egypt\/\">Ancient Egypt<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/history\/\">History<\/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=\"585787\" 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=\"585787\">\r\n            \r\n                <div class=\"issue-story-header text-center\">\r\n                    <div class=\"index-number\">8<\/div>\r\n\r\n                    <p class=\"f-graphik\">Also on our Radar<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2023\/04\/30\/capricorn-energy-to-pay-out-usd-575-mn-to-investors-plus-carbon-storage-new-state-owned-fintech-cars-for-expats\/\">\r\n                            Capricorn Energy to pay out USD 575 mn to investors as it doubles down on Egypt. PLUS: carbon storage, new state-owned fintech, cars for expats                        <\/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\/04\/30\/capricorn-energy-to-pay-out-usd-575-mn-to-investors-plus-carbon-storage-new-state-owned-fintech-cars-for-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(); navigator.clipboard.writeText('https:\/\/enterpriseam.com\/egypt\/2023\/04\/30\/capricorn-energy-to-pay-out-usd-575-mn-to-investors-plus-carbon-storage-new-state-owned-fintech-cars-for-expats\/')\">\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\/04\/30\/capricorn-energy-to-pay-out-usd-575-mn-to-investors-plus-carbon-storage-new-state-owned-fintech-cars-for-expats\/\">\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=Capricorn Energy to pay out USD 575 mn to investors. PLUS: carbon storage, new state-owned fintech, cars for expats&url=https:\/\/enterpriseam.com\/egypt\/2023\/04\/30\/capricorn-energy-to-pay-out-usd-575-mn-to-investors-plus-carbon-storage-new-state-owned-fintech-cars-for-expats\/\">\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\/04\/30\/capricorn-energy-to-pay-out-usd-575-mn-to-investors-plus-carbon-storage-new-state-owned-fintech-cars-for-expats\/&title=Capricorn Energy to pay out USD 575 mn to investors. PLUS: carbon storage, new state-owned fintech, cars for expats\">\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=Capricorn+Energy+to+pay+out+USD+575+mn+to+investors.+PLUS%3A+carbon+storage%2C+new+state-owned+fintech%2C+cars+for+expats+https%3A%2F%2Fenterpriseam.com%2Fegypt%2F2023%2F04%2F30%2Fcapricorn-energy-to-pay-out-usd-575-mn-to-investors-plus-carbon-storage-new-state-owned-fintech-cars-for-expats%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\/04\/30\/capricorn-energy-to-pay-out-usd-575-mn-to-investors-plus-carbon-storage-new-state-owned-fintech-cars-for-expats\/\">\r\n                    <div class=\"photo photo--above\">\r\n                        <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2023\/4\/970.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"585788\" data-permalink=\"https:\/\/enterpriseam.com\/egypt\/2023\/04\/30\/capricorn-energy-to-pay-out-usd-575-mn-to-investors-plus-carbon-storage-new-state-owned-fintech-cars-for-expats\/970-jpg-4\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2023\/4\/970.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"970.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2023\/4\/970.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2023\/4\/970.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-585787\" class=\"content-area-description single-story post-585787 post type-post status-publish format-standard has-post-thumbnail hentry category-also-on-our-radar tag-also-on-our-radar tag-automotive tag-banking tag-banque-misr tag-capricorn-energy tag-carbon-storage tag-egyptera tag-energy tag-enterpriseam tag-fintech tag-oil-and-gas tag-wintershall-dea wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<figure class=\"wp-block-audio mb-0\"><audio controls preload=\"metadata\" src=\"https:\/\/s3.us-east-1.amazonaws.com\/ent.news\/audio\/2023\/5\/.3168c9e6-a8f4-46d0-a853-68515049f6c0.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;\">ENERGY-<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"\">#<\/span><span style=\"font-weight:700\">1-<\/span><span style=\"font-weight:700\">Capricorn plans big investor payouts under new leadership: <\/span><span style=\"\">The board of oil and <\/span><span>gas firm Capricorn Energy last week <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/www.capricornenergy.com\/news-media\/news\/2023\/full-year-results-2022-and-strategic-review-update\/#Tabundefined=1\" style=\"\">said<\/a><\/span><span> it could pay out as much as USD 575 mn to investors in the next 12 months. The move comes as the company wraps a strategic review following the ousting of its former board by investors led by activist investor <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/3d53cc51-fcea-4cbb-89e7-2d1e6d65fad9\" style=\"\">Palliser Capital<\/a><\/span><span>, killing a proposed merger with Israeli energy firm NewMed Energy.  \"We are not in the business of building war chests in the new Capricorn,\" new chair Craig van der Laan is quoted as telling <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/www.reuters.com\/business\/energy\/capricorn-energy-plans-575-mln-shareholder-payouts-over-12-months-2023-04-27\/\" style=\"\">Reuters<\/a><\/span><span style=\"font-weight:400;\">. <\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:700\">Pivot to Egypt: <\/span><span style=\"font-weight:400;\">The payouts include a USD 450 mn special dividend in May, and another potential USD 100 mn dividend in 4Q \u2014 depending on revenues and other outcomes at the firm\u2019s Egyptian business, van der Laan said. The company has some USD 97 mn in receivables outstanding from Egypt. Capricorn will \u201cmaterially scale back all exploration spend outside Egypt and monetize, farm-down or exit all other exploration positions\u201d while \u201cmaximizing value of Egypt by optimizing investment, well selection and rig performance,\u201d according to its statement.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:700\">New CEO has local experience: <\/span><span>Capricorn also announced it had chosen Randy Neely <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/www.linkedin.com\/in\/randy-neely-3b782629\/?originalSubdomain=ca\" style=\"\">(LinkedIn<\/a><\/span><span style=\"font-weight:400;\">) as its new chief executive. Neely is the former president and CEO of Egypt-focused Canadian operator TransGlobe Energy.  <\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:400;\"><\/p>\n<hr style=\"height:2px;border-width:0;color:gray;background-color:gray\">\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:700\">#2- Could Germany\u2019s Wintershall store carbon here? <\/span><span style=\"\">Wintershall Dea is studying <\/span><span>potential offshore carbon storage sites in Egypt and Argentina, reports <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/pemedianetwork.com\/carbon-economist\/articles\/ccus\/2023\/wintershall-hunts-for-co2-storage-in-egypt-and-argentina\/\" style=\"\">Carbon Economist<\/a><\/span><span>, a<\/span><span>s the company looks to broaden the scope of its carbon capture and storage (CCS) operations beyond Europe. This comes almost a year after the German company <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/wintershalldea.com\/en\/newsroom\/wintershall-dea-and-egas-sign-mou\" style=\"\">signed a two-year MoU<\/a><\/span><span style=\"font-weight:400;\"> with state-owned Egas last year to explore CCS and low-carbon hydrogen projects 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;\"><\/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\">#3- Private-sector players given green light to establish small-scale power stations: <\/span><span>The Egyptian Electric Utility and Consumer Protection Regulatory Agency (Egyptera) has handed <\/span><span>out permits to companies to establish electricity generators with a combined capacity of 48 MWs, agency head Mohamed Moussa told <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/www.alborsaanews.com\/2023\/04\/29\/1660830\" style=\"\">Al Borsa<\/a><\/span><span>. The permits were awarded to<\/span><span style=\"font-weight:400;\"> Intro Group subsidiary Intro Power and Utilities, Interstate Paper Industries, Petrobel \u2014 a JV between Eni and the Egyptian General Petroleum Corporation subsidiary, land reclamation company Lina Company, and Ascom Geology and Mining. <\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:700;\">FINTECH- <\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:700\">State-owned Banque Misr plans to launch a new <\/span><span style=\"font-weight:700\">e-payments company within the next three months<\/span><span>, <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/bit.ly\/3oLP0LP\" style=\"\">Asharq Business<\/a><\/span><span style=\"font-weight:400;\"> reports, citing two unnamed sources it says are familiar with the matter. The state-owned lender is awaiting a license to launch the firm, which will bring new e-payments products and services to the market, the sources said, without revealing further details. Banque Misr currently owns a c.10% stake in e-payments giant Fawry. <\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:700;\">AUTOMOTIVE-<\/span><\/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 just got easier for expats to bring their cars into Egypt: <\/span><span style=\"\">The Customs Authority <\/span><span>has approved further facilities for the <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/www.tamimi.com\/news\/egypt-new-custom-law\/\" style=\"\">import of passenger cars<\/a><\/span><span> for expats living in Egypt, Egyptian expats, and tourists, according to <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/www.facebook.com\/EgyptianCabinet\/posts\/pfbid024tfG2ssNbfqzXiKN2sfZvghuCFN3AEH3uvJu25UKmZBQDtnhgaZJy9sChNq6er7ql\" style=\"\">a statement<\/a><\/span><span style=\"font-weight:400;\">. The changes allow passenger vehicles to be temporarily released for up to six months, and replace custom duties and other fees with a payment of up to USD 275.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:700\">No, this is not the <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;font-weight:700;\"><a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/d46b1f72-d632-41ab-bab8-364dacf0db4a\" style=\"\">expat car import scheme<\/a><\/span><span style=\"font-weight:700\">:<\/span><span>The move was introduced in 2020 with the aim of attracting FX into Egypt and helping people bring in their<\/span><span> passenger vehicles from abroad during the time of the coronavirus, when travel was suspended. <\/span><\/p>\n\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/also-on-our-radar\/\">ALSO ON OUR RADAR<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/automotive\/\">automotive<\/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\/banque-misr\/\">Banque Misr<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/capricorn-energy\/\">Capricorn Energy<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/carbon-storage\/\">carbon storage<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/egyptera\/\">Egyptera<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/energy\/\">energy<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/fintech\/\">Fintech<\/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\/wintershall-dea\/\">Wintershall Dea<\/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=\"585789\" 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=\"585789\">\r\n            \r\n                <div class=\"issue-story-header text-center\">\r\n                    <div class=\"index-number\">9<\/div>\r\n\r\n                    <p class=\"f-graphik\">Diplomacy<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2023\/04\/30\/renewables-war-in-sudan-and-railways-get-attention-in-el-sisis-meeting-with-austrian-chancellor\/\">\r\n                            Renewables, war in Sudan, and railways get attention in Egyptian president\u2019s meeting with Austria\u2019s chancellor                        <\/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\/04\/30\/renewables-war-in-sudan-and-railways-get-attention-in-el-sisis-meeting-with-austrian-chancellor\/\" target=\"_blank\">\n                    Open in new tab                 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href=\"https:\/\/enterpriseam.com\/egypt\/2023\/04\/30\/renewables-war-in-sudan-and-railways-get-attention-in-el-sisis-meeting-with-austrian-chancellor\/\">\r\n                    <div class=\"photo photo--above\">\r\n                        <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2023\/4\/977.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"585790\" data-permalink=\"https:\/\/enterpriseam.com\/egypt\/2023\/04\/30\/renewables-war-in-sudan-and-railways-get-attention-in-el-sisis-meeting-with-austrian-chancellor\/977-jpg\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2023\/4\/977.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"977.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2023\/4\/977.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2023\/4\/977.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-585789\" class=\"content-area-description single-story post-585789 post type-post status-publish format-standard has-post-thumbnail hentry category-diplomacy tag-diplomacy tag-egypt-austria-relations tag-egyptian-national-railways tag-enterpriseam tag-renewable-energy wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<figure class=\"wp-block-audio mb-0\"><audio controls preload=\"metadata\" src=\"https:\/\/s3.us-east-1.amazonaws.com\/ent.news\/audio\/2023\/4\/.fa55b818-242f-42e4-a4a2-8e32a44af046.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\">President Abdel Fattah El Sisi will visit Austria<\/span><span style=\"\">, accepting an invite from Austrian Chancellor <\/span><span>Karl Nehammer after the two met in Cairo on Thursday, according to an <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/www.facebook.com\/Egy.Pres.Spokesman\/posts\/pfbid036ErUemMqsostKF9aFBaYcwYGNPxV7T19NP9xpYhzBZmGQzoq74cBC4EJVBQojU9xl\" style=\"\">Ittihadiya<\/a><\/span><span> statement. The date of the visit is yet to be determined. El Sisi will sign an agreement on migration during the visit, according to an <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/www.bundeskanzleramt.gv.at\/bundeskanzleramt\/nachrichten-der-bundesregierung\/2023\/04\/nehammer-zusammenarbeit-mit-afrika-auf-augenhoehe.html\" style=\"\">Austrian statement<\/a><\/span><span style=\"font-weight:400;\">. <\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:700\">El Sisi and Nehammer discussed cooperation on transport, manufacturing, and renewables<\/span><span style=\"font-weight:400;\">, as well as regional issues including the conflict in Sudan with their wider delegations, the Ittihadiya statement reads. The Austrian side said Nehammer noted the \u201cgreat potential\u201d for Austria to import green hydrogen from North Africa while 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\">Austria helps localize our railways: <\/span><span>Egyptian National Railways <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/www.facebook.com\/EgyptianCabinet\/posts\/pfbid02YhUXHso4kvZFJPnh6cj4hsmeuaKNE49n6J93L7kssTukx6FQJT3vVHyX1ftb9nY9l\" style=\"\">signed an agreement<\/a><\/span><span> with Austrian company <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/www.voestalpine.com\/railway-systems\/en\/\" style=\"\">Voestalpine<\/a><\/span><span> to up capacity at the Abbasiya rail switch workshop and establish a new production line for high-speed rail switches. The authority also <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/www.facebook.com\/EgyptianCabinet\/posts\/pfbid02ry97D8MAtbcviMGxMZx1tqEoUJ9LnJtiktR9kyBiEhoQiyxCJToYH7PmPbN4SUDxl\" style=\"\">signed an agreement<\/a><\/span><span> with Austria\u2019s <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/www.plassertheurer.com\/en\/home\" style=\"\">Plasser & Theurer<\/a><\/span><span style=\"font-weight:400;\"> to repair and maintain rail maintenance equipment. <\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:700\">Opening the door to Austrian investors: <\/span><span>Prime Minister Moustafa Madbouly highlighted the potential for more Austrian investment in Egypt at a <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/www.facebook.com\/EgyptianCabinet\/posts\/pfbid029r6qaJLC4jN1YUvHpB7VH75KwaSKnmHrmFLDKNyx1x9cWfnEgTgcNHEEMyMtNFAFl\" style=\"\">roundtable<\/a><\/span><span style=\"font-weight:400;\"> for business leaders from the two countries that he co-chaired with Nehammer. <\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:700\">MEANWHILE- Egypt will host next year\u2019s annual meeting of Arab financial institutions<\/span><span style=\"\">, <\/span><span>International Cooperation Minister Rania Al Mashat <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/www.facebook.com\/EgyptianCabinet\/posts\/pfbid0d9sGUcPziPBDMDWhhrkXYZZwGn9oAVGr7wLtYmnNqTeXsd7fHZfD4biQKQGguqPTl\" style=\"\">said yesterday<\/a><\/span><span style=\"font-weight:400;\"> during this year\u2019s edition of the meetings being held in Morocco. The meeting brings together a number of Arab ministers, central bank governors, and representatives from regional and international financial institutions. <\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:700\">ALSO FROM THE MEETINGS-<\/span><span> Finance Minister Mohamed Maait discussed the future of taxes amid the global move towards digitization with the Organization for Economic Cooperation and Development\u2019s (OECD) tax chief, Manal Corwin, the Finance Ministry said in a <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/www.facebook.com\/EgyptianCabinet\/posts\/pfbid02Qgttqj9oUXk44LxLfrhtiQ3Tseshj34vdPeVoD3Zv9fyxwjRVF21ieUqQAy3c4bJl\" style=\"\">statement<\/a><\/span><span>. <\/span><span style=\"font-weight:700\">Maait praised the organization\u2019s <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;font-weight:700;\"><a href=\"https:\/\/www.oecd.org\/tax\/beps\/international-tax-reform-oecd-releases-technical-guidance-for-implementation-of-the-global-minimum-tax.htm\" style=\"\">proposal for a global<\/a><\/span><span style=\"-webkit-text-decoration-skip:none;font-weight:700;text-decoration-skip-ink:none\"><a href=\"https:\/\/www.oecd.org\/tax\/beps\/international-tax-reform-oecd-releases-technical-guidance-for-implementation-of-the-global-minimum-tax.htm\" style=\"\">minimum<\/a><\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;font-weight:700;\"><a href=\"https:\/\/www.oecd.org\/tax\/beps\/international-tax-reform-oecd-releases-technical-guidance-for-implementation-of-the-global-minimum-tax.htm\" style=\"\">corporate tax<\/a><\/span><span style=\"font-weight:400;\">, which would subject multinationals to a 15% minimum tax rate.<\/span><\/p>\n\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/diplomacy\/\">DIPLOMACY<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/egypt-austria-relations\/\">Egypt-Austria relations<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/egyptian-national-railways\/\">Egyptian National Railways<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/renewable-energy\/\">renewable energy<\/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=\"585791\" 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=\"585791\">\r\n            \r\n                <div class=\"issue-story-header text-center\">\r\n                    <div class=\"index-number\">10<\/div>\r\n\r\n                    <p class=\"f-graphik\">PLANET FINANCE<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2023\/04\/30\/investors-are-growing-more-concerned-about-an-egypt-default\/\">\r\n                            Investors are growing more concerned about an Egypt default                        <\/a>\r\n                    <\/h3>\r\n\r\n                   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    <\/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\/04\/30\/investors-are-growing-more-concerned-about-an-egypt-default\/\">\r\n                    <div class=\"photo photo--above\">\r\n                        <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2023\/4\/964.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"585792\" data-permalink=\"https:\/\/enterpriseam.com\/egypt\/2023\/04\/30\/investors-are-growing-more-concerned-about-an-egypt-default\/964-jpg\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2023\/4\/964.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"964.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2023\/4\/964.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2023\/4\/964.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-585791\" class=\"content-area-description single-story post-585791 post type-post status-publish format-standard has-post-thumbnail hentry category-planet-finance tag-arm tag-capital-markets tag-emerging-markets tag-enterpriseam tag-financial-markets tag-hedge-funds tag-planet-finance tag-softbank 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\/4\/.8b80914a-6133-4a5f-88a1-acc81538f257.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\">The cost of insuring Egypt\u2019s debt just hit a record high: <\/span><span style=\"\">The country\u2019s <\/span><span>five-year credit-default swaps (CDS) <\/span><span>are trading at a record discount to their one-year counterparts, <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/www.bloomberg.com\/news\/articles\/2023-04-27\/egypt-s-doomsayers-pay-more-than-ever-to-protect-against-default#xj4y7vzkg\" style=\"\">Bloomberg<\/a><\/span><span> reports \u2014 <\/span><span style=\"\">suggesting that investors are more worried than ever about the nation\u2019s short-term default risk<\/span><span style=\"font-weight:400;\">. Egypt\u2019s one-year credit-default swaps rose 1k bps to 2.3k bps in April, while the five-year contract rose c.390 bps to 1.7k bps during the same month, the business news outlet reports. \u201cThe inversion in the credit curve is certainly indicative of the market pricing in a higher chance of near-term default risk,\u201d said Columbia Threadneedle Investments analyst Gordon Bowers. Current bond prices suggest a 75% chance of default over the next 10 years and a 15% chance over the next six months, according to Tellimer calculations.<\/span><\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:700\">Remember:<\/span><span style=\"\"> S&amp;P Global last week became the last of the big three rating agencies to take <\/span><span>negative action on Egypt, <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/1180e838-be2d-4297-ac4d-4f179c21b3c1\" style=\"\">cutting its outlook to negative<\/a><\/span><span style=\"font-weight:400;\"> due to rising risks that the country will not be able to meet its external funding requirements.<\/span><\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:700\">Reform is key to reassuring investors:<\/span><span style=\"\"> \u201cThe market is getting quite impatient on the lack of <\/span><span>progress\u201d in implementing the economic reforms Egypt has pledged to make as part of its USD 3 bn IMF assistance package, which include securing external financing through the privatization of state-owned assets, Bloomberg quotes Bowers as saying. <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/www.ft.com\/content\/4875b0b6-3a75-47fc-879e-36c0046fe952\" style=\"\">The Financial Times<\/a><\/span><span> is also reporting on the apparent delays in securing the investment that Gulf countries have pledged to Egypt. <\/span><\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:700;\">Also worth knowing:<\/span><\/p><ul>\n<li><span style=\"font-weight:700\">SoftBank wants to take British chipmaker ARM public in New York: <\/span><span>SoftBank\u2019s chipmaking business ARM has submitted the required documentation registering for listing on the US stock exchange, potentially marking this year\u2019s largest IPO. (<\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/www.reuters.com\/markets\/deals\/softbanks-arm-registers-blockbuster-us-ipo-sources-2023-04-29\/\" style=\"\">Reuters<\/a><\/span><span>)<\/span><\/li>\n<li><span style=\"font-weight:700\">Hedge funds burned by tech rally:<\/span><span style=\"\"> Hedge funds with short positions on tech have <\/span><span>been caught out by last week\u2019s rally, losing USD 18 bn after a string of positive earnings releases sparked a rebound in tech shares. Meta, Microsoft, Alphabet, and Amazon have all recorded strong earnings in recent days, prompting their shares to soar and helping S&amp;P 500 to close the month up 1.5%. (<\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/www.ft.com\/content\/150bf973-39dc-4559-ba64-3682d124500b\" style=\"\">Financial Times<\/a><\/span><span> | <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/www.bloomberg.com\/news\/articles\/2023-04-28\/all-in-bets-on-faang-stock-boom-pay-out-in-week-of-big-earnings\" style=\"\">Bloomberg<\/a><\/span><span style=\"font-weight:400;\">)<\/span><\/li>\n<li><span style=\"font-weight:700\">EM hasn\u2019t seen anything yet:<\/span><span style=\"\"> That\u2019s according to the world\u2019s largest listed hedge fund, <\/span><span>Man Group, which thinks the sell-off in emerging-market debt since February is about to get \u201cmuch more violent.\u201d (<\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/www.bloomberg.com\/news\/articles\/2023-04-27\/top-hedge-fund-says-violent-emerging-market-selloff-is-coming\" style=\"\">Bloomberg<\/a><\/span><span style=\"font-weight:400;\">)<\/span><\/li>\n<li><span style=\"font-weight:700\">France downgraded: <\/span><span style=\"\">Fitch Ratings has downgraded France\u2019s credit rating to <\/span><span>AA- with a stable outlook, citing weak growth and recent social unrest triggered by Macron\u2019s controversial pension reforms. (<\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/www.fitchratings.com\/research\/sovereigns\/fitch-downgrades-france-to-aa-outlook-stable-28-04-2023\" style=\"\">Fitch Ratings<\/a><\/span><span>)<\/span><\/li>\n<\/ul><p><a id=\"t.c597d24253bdb20fc96831cbc24dec9d6facdf83\"><\/a><a id=\"t.0\"><\/a><\/p><div class=\"stock-ticker-panel\">\n<table class=\"table stock-ticker-table table-striped markets-table\">\n<tr class=\"tr-row-up\">\n<td class=\"td-list-up\">\n<p><svg class=\"e-icon e-TypeMarkets11\"><use xlink:href=\"#e-TypeMarkets11\"><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><span style=\"font-weight:700\">EGX30 <\/span><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><span style=\"font-weight:400;\">17,797<\/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;\">+2.0% (YTD: +21.9%)<\/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 30.83<\/span><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><span style=\"font-weight:400;\">Sell 30.96<\/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;\">18.25% 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;\">19.25% 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;\">11,271<\/span><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><span style=\"font-weight:400;\">-0.3% (YTD: +7.6%)<\/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\">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;\">9,789<\/span><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><span style=\"font-weight:400;\">+0.4% (YTD: -4.1%)<\/span><\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-up\">\n<td class=\"td-list-up\">\n<p><svg class=\"e-icon e-TypeMarkets11\"><use xlink:href=\"#e-TypeMarkets11\"><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><span style=\"font-weight:700\">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;\">3,545<\/span><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><span style=\"font-weight:400;\">+0.8% (YTD: +6.3%)<\/span><\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-up\">\n<td class=\"td-list-up\">\n<p><svg class=\"e-icon e-TypeMarkets11\"><use xlink:href=\"#e-TypeMarkets11\"><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><span style=\"font-weight:700\">S&amp;P 500<\/span><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><span style=\"font-weight:400;\">4,170<\/span><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><span style=\"font-weight:400;\">+0.8% (YTD: +8.6%)<\/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\">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;\">7,871<\/span><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><span style=\"font-weight:400;\">+0.5% (YTD: +5.6%)<\/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\">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;\">4,359<\/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;\">+0.03% (YTD: +14.9%)<\/span><\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-up\">\n<td class=\"td-list-up\">\n<p><svg class=\"e-icon e-TypeMarkets11\"><use xlink:href=\"#e-TypeMarkets11\"><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><span style=\"font-weight:700\">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 80.33<\/span><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><span style=\"font-weight:400;\">+2.7%<\/span><\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-up\">\n<td class=\"td-list-up\">\n<p><svg class=\"e-icon e-TypeMarkets11\"><use xlink:href=\"#e-TypeMarkets11\"><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><span style=\"font-weight:700\">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 2.41<\/span><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><span style=\"font-weight:400;\">+2.3%<\/span><\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-none\">\n<td class=\"td-list-none\">\n<p><svg class=\"e-icon e-TypeMarkets\"><use xlink:href=\"#e-TypeMarkets\"><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;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 1,999.10<\/span><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><span style=\"font-weight:400;\">0.0%<\/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\">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 29,250<\/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>-0.4% (YT<\/span><span>D: +77.1%<\/span><span style=\"font-weight:400;\">)<\/span><\/p>\n<\/td>\n<\/tr>\n<\/table>\n<\/div><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:700;\">THE CLOSING BELL-<\/span><\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:700\">The EGX30 rose 2.0% at Thursday\u2019s <\/span><span style=\"font-weight:700\">close<\/span><span style=\"\"> on turnover of EGP<\/span><span style=\"\">2.55 bn (about 42% above the trailing 90-day average<\/span><span style=\"\">). Local investors were <\/span><span style=\"font-weight:400;\">net buyers. The index is up 21.9% 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;\">Ibnsina Pharma (+9.1%), Oriental Weavers (+6.9%) and AMOC (+5.5%).<\/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 style=\"font-weight:400;\">CIRA Education (-3.0%), Ezz Steel (-1.4%) and Juhayna (-0.8%).<\/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\/arm\/\">Arm<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/capital-markets\/\">capital markets<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/emerging-markets\/\">emerging markets<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/financial-markets\/\">Financial Markets<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/hedge-funds\/\">hedge funds<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/planet-finance\/\">Planet Finance<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/softbank\/\">SoftBank<\/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=\"585793\" 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=\"585793\">\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\">AROUND THE WORLD<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2023\/04\/30\/the-us-iran-are-engaging-in-tit-for-tat-tanker-seizing\/\">\r\n                            US, Iran seize oil tankers as tensions rise                        <\/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\/04\/30\/the-us-iran-are-engaging-in-tit-for-tat-tanker-seizing\/\" 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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Washington\u2019s move is the latest in its efforts to enforce its sanctions against the Iranian oil trade over its nuclear program. The tug of war is no novelty: Iran \u2014 which is known for seizing tankers in retaliation against similar moves by Western countries \u2014 last year <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/www.reuters.com\/world\/middle-east\/us-confiscates-iran-oil-cargo-tanker-amid-tehran-tensions-sources-2023-04-28\/\" style=\"\">confiscated<\/a><\/span><span style=\"font-weight:400;\">two Greek tankers in the Gulf after the US tried to capture a cargo of Iranian oil near Greece.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:700\">Another country begins to ditch the greenback:<\/span><span style=\"\"> Argentina has become the latest <\/span><span>country to jettison the USD in its trade with China, announcing Wednesday that the two countries will now use the CNY for bilateral trade. (<\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/www.argentina.gob.ar\/noticias\/argentina-deja-de-pagar-importaciones-en-dolares-y-pasa-yuanes\" style=\"\">Argentina Economy Ministry<\/a><\/span><span>).<\/span><\/p>\n\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/around-the-world\/\">Around the World<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/iran\/\">Iran<\/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=\"585795\" 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\/04\/30\/585795\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-585795\" class=\"content-area-description single-story post-585795 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 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 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>April: SCZone to <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/www.facebook.com\/EgyptianCabinet\/posts\/pfbid02gVG1gSGUAVB6bTcCGwENBbd7zyVKvfKr4L4BFAuEki7mTzBzQmSMykZ4tDmx3ahfl\" style=\"\">begin providing<\/a><\/span><span style=\"font-weight:400;\"> ship bunkering services in the Suez Canal\u2019s ports.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:400;\">26 April - 5 May (Wednesday-Friday): African Basketball Championship.<\/span><\/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) House of Representatives back in session. <\/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): Deadline for corporate tax returns.<\/span><\/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>1 May (Monday): Deadline to <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/form.typeform.com\/to\/QbFbUKfE\" style=\"\">apply<\/a><\/span><span style=\"font-weight:400;\"> to VC funds program by GIZ Egypt, AfricaGrow and Dutch development bank FMO.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:400;\">1-5 May (Monday-Friday): African Private Equity and Venture Capital Association annual summit, Four Seasons Nile Plaza, 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;\">2 May (Tuesday): National Paints Holding\u2019s and Eagle Chemicals\u2019 MTOs for Pachin 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;\">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;\">3 May (Wednesday): National Dialogue begins.<\/span><\/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 style=\"font-weight:400;\">7 May (Sunday): Senate back in session. <\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span>7-11 May (Sunday-Thursday): First round of applications for sixth phase of export subsidy program.<\/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;\">12-15 May (Friday-Monday): Egypt Fashion Week.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:400;\">14 May (Sunday): 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>14 May (Sunday): EgyptAir to <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/www.facebook.com\/EgyptianCabinet\/posts\/pfbid02oUmEzhqGdeFuGWdMo9HQXbVTNpLc5fcDmTUPrxnb6RUdTLcwjRi2nkjFPzxaKA88l\" style=\"\">launch<\/a><\/span><span style=\"font-weight:400;\"> a new route to Dhaka, Bangladesh.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:400;\">14 May (Sunday) Egytrans\u2019 shareholders to vote on NOSCO acquisition. <\/span><\/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=\"http:\/\/enterprise.press\/wp-content\/uploads\/2023\/02\/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>17-31 May (Wednesday - Wednesday): Second round of applications for sixth phase of export subsidy 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;\">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 style=\"font-weight:400;\">19 May (Friday): Arab League summit, Riyadh.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:400;\">19-21 May (Friday-Sunday): G7 summit, Hiroshima, Japan.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span>20-21 May (Saturday-Sunday): <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/www.eglobexpo.com\/\" style=\"\">eGlob Expo<\/a><\/span><span style=\"font-weight:400;\">, St. Regis Almasa Hotel, Cairo.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span>22-26 May (Monday-Friday): Egypt <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/www.afdb.org\/en\/news-and-events\/press-releases\/african-development-bank-group-concludes-annual-meetings-governors-endorse-banks-vision-next-10-years-51974#:~:text=The%20new%20Board%20of%20Governors,from%2022%2D26%20May%202023.\" style=\"\">will host<\/a><\/span><span style=\"font-weight:400;\"> the African Development Bank (AfDB) annual meetings in Sharm El Sheikh.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:400;\">30 May (Tuesday): Listed companies have until this date to report and publish their 1Q results.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight: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;\">June: Indian representatives to discuss prospect investments in the Suez Canal. <\/span><\/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=\"http:\/\/enterprise.press\/wp-content\/uploads\/2022\/09\/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;\">1 July: House of Representatives deadline to approve the FY 2023-2024 budget.<\/span><\/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 July: GAFI to launch 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>5 - 6 July (Monday - Tuesday): Gov\u2019t to pay out subsidies to first wave of applicants under its sixth export subsidy 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;\">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>19 - 20 July (Wednesday - Thursday): Gov\u2019t to pay out subsidies to second wave of applicants under its sixth export subsidy 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;\">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>2 - 3 August (Wednesday - Thursday): Gov\u2019t to pay out subsidies to second wave of applicants under its sixth export subsidy 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;\">3 August (Thursday): Central Bank of Egypt\u2019s Monetary Policy Committee meeting.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"\">10 August (Thursday): Shalateen Mineral Resources gold mining tender closes. <\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:400;\">22-24 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=\"\">September: Susta<\/span><span style=\"font-weight:400;\">inable Debt Coalition Initiative agreed at COP27 to launch. <\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:400;\">9-10 September (Saturday-Sunday): G20 summit, New Delhi, India.<\/span><\/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 September (Friday): 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;\">21-23 September (Thursday-Saturday): Narrative PR Summit, Somabay.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"\">25 September (Monday): Nasdaq <\/span><span style=\"font-weight:400;\">deadline for Swvl Holdings Corp to increase its market value of publicly held shares to a minimum of USD 15 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: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=\"\">October: <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/fra.gov.eg\/fra_news\/%d8%a7%d9%84%d8%b1%d9%82%d8%a7%d8%a8%d8%a9-%d8%a7%d9%84%d9%85%d8%a7%d9%84%d9%8a%d8%a9-%d8%aa%d8%b5%d8%af%d8%b1-%d9%82%d8%b1%d8%a7%d8%b1%d8%a7%d9%8b-%d8%a8%d8%b4%d8%a3%d9%86-%d8%a7%d9%84%d8%aa%d8%b2\/\" style=\"\">Deadline<\/a><\/span><span style=\"\"> for ins<\/span><span>. providers to <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/edition\/am\/e4d8d8da-b406-4776-ab2a-fa796e247eab\" style=\"\">link their databases<\/a><\/span><span style=\"font-weight:400;\"> with the FRA.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span>2-5 October (Monday-Thursday): <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/www.adipec.com\/\" style=\"\">ADIPEC 2023<\/a><\/span><span style=\"font-weight:400;\">, Abu Dhabi National 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;\">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;\">26 October (Thursday): Daylight saving time 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;\">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>November: Cairo to <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/www.facebook.com\/EgyptianCabinet\/posts\/pfbid02Dnbtioh4JQwUzjkYVQR1hYxFmBP6BCmxrNEZVWU3XJDZFYfHLKC8pCPWjvWvdEel\" style=\"\">host<\/a><\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/www.intrafricantradefair.com\/en\" style=\"\">Intra-African Trade Fair<\/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;\">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;\">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;\">1H 2023: GAFI roadshow set to launch to drum up foreign investment for golden licenses <\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span>1H 2023: Abu Dhabi Islamic Bank intends to launch a digital consumer finance company<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight: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=\"font-weight:400;\">2H 2023: President Abdel Fattah El Sisi and Turkish President Recep Tayyip Erdogan expected to hold a summit.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:400;\">4Q 2023: EGX to launch its new futures exchange.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:400;\">End of 2023: A Developments\u2019 first phase of the Lazoghly development completed.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span>November 2024: <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/www.facebook.com\/EgyptianCabinet\/posts\/pfbid0LLPJRjsu6SZLwtRHuLmCQxoAZB3xaXVXH8aYkMSEH3ae4aW6JCZaPe5h5u9nKmcRl\" style=\"\">Egypt to host<\/a><\/span><span style=\"font-weight:400;\"> the 12th session of the World Urban Forum (WUF12).<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:400;\">2Q 2025: Safaga Terminal 2 to initiate operations.<\/span><\/p>\n\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n","protected":false},"excerpt":{"rendered":"","protected":false},"featured_media":585769,"menu_order":0,"template":"","categories":[],"tags":[],"class_list":["post-585768","issue","type-issue","status-publish","has-post-thumbnail","hentry","wpautop","entry"],"acf":{"mongo_id":"398382c3-f394-4550-90f7-148e717d8c13","teaser":"","photo_url":"https:\/\/ent.news\/2023\/2\/154.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>Egypt will not default, says Madbouly amid investor pessimism on debt outlook - 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\/egypt-will-not-default-says-madbouly-amid-investor-pessimism-on-debt-outlook\/\" \/>\n<meta property=\"og:locale\" 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