{"id":585923,"date":"2023-05-02T00:00:00","date_gmt":"2023-05-02T00:00:00","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/?post_type=issue&#038;p=585923"},"modified":"2025-12-16T14:26:12","modified_gmt":"2025-12-16T14:26:12","slug":"heres-whos-eligible-to-bid-in-the-governments-upcoming-ppp-desalination-program","status":"publish","type":"issue","link":"https:\/\/enterpriseam.com\/egypt\/issues\/heres-whos-eligible-to-bid-in-the-governments-upcoming-ppp-desalination-program\/","title":{"rendered":"Here\u2019s who\u2019s eligible to bid in the government\u2019s upcoming PPP desalination program"},"content":{"rendered":"<section id=\"585925\" 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=\"585925\">\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\/05\/02\/net-foreign-liabilities-hit-fresh-record-high-in-march-plus-its-decision-day-for-pachin-shareholders\/\">\r\n                            Egypt\u2019s net foreign liabilities hit fresh record high in March                        <\/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\/05\/02\/net-foreign-liabilities-hit-fresh-record-high-in-march-plus-its-decision-day-for-pachin-shareholders\/\" 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\/05\/02\/net-foreign-liabilities-hit-fresh-record-high-in-march-plus-its-decision-day-for-pachin-shareholders\/')\">\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\/05\/02\/net-foreign-liabilities-hit-fresh-record-high-in-march-plus-its-decision-day-for-pachin-shareholders\/\">\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=Net foreign liabilities hit fresh record high in March. PLUS: It\u2019s decision day for Pachin shareholders&url=https:\/\/enterpriseam.com\/egypt\/2023\/05\/02\/net-foreign-liabilities-hit-fresh-record-high-in-march-plus-its-decision-day-for-pachin-shareholders\/\">\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\/05\/02\/net-foreign-liabilities-hit-fresh-record-high-in-march-plus-its-decision-day-for-pachin-shareholders\/&title=Net foreign liabilities hit fresh record high in March. 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               <a href=\"https:\/\/enterpriseam.com\/egypt\/2023\/05\/02\/net-foreign-liabilities-hit-fresh-record-high-in-march-plus-its-decision-day-for-pachin-shareholders\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-585925\" class=\"content-area-description single-story post-585925 post type-post status-publish format-standard hentry category-what-were-tracking-today tag-eagle-chemicals tag-economy tag-enterpriseam tag-ma-watch tag-national-paints-holding tag-pachin tag-what-were-tracking-today wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<aside>\t\t\t<div\r\n\t\t\t\t\t\t\t\tclass=\"newspack-popup-container newspack-popup hidden  newspack-inline-popup  newspack-lightbox-no-border   \"\r\n\t\t\t\trole=\"button\"\r\n\t\t\t\ttabindex=\"0\"\r\n\t\t\t\tstyle=\"background-color:#FFFFFF;color:#000\"\r\n\t\t\t\tid=\"id_27645\"\r\n\t\t\t\tdata-segments=\"\"\r\n\t\t\t\tdata-frequency=\"0,0,0,month\"\r\n\t\t\t>\r\n\t\t\t\t\n<div class=\"wp-block-group has-light-gray-background-color has-background\" style=\"padding-top:0px;padding-right:0px;padding-bottom:0px;padding-left:0px\"><div class=\"wp-block-group__inner-container is-layout-constrained wp-container-core-group-is-layout-ef38739e wp-block-group-is-layout-constrained\">\n<div class=\"wp-block-group is-content-justification-center is-nowrap is-layout-flex wp-container-core-group-is-layout-94bc23d7 wp-block-group-is-layout-flex\">\n<p class=\"f-graphik\" style=\"font-size:14px\">Together with<\/p>\n\n\n<div class=\"wp-block-image\">\n<figure class=\"aligncenter size-full\"><img decoding=\"async\" src=\"https:\/\/s3.amazonaws.com\/resources.inktankir.com\/internal\/27482.svg\" alt=\"\" class=\"wp-image-27482\"\/><\/figure>\n<\/div><\/div>\n<\/div><\/div>\n\t\t\t<\/div>\r\n\t\t<\/aside>\n<figure class=\"wp-block-audio mb-0\"><audio controls preload=\"metadata\" src=\"https:\/\/s3.us-east-1.amazonaws.com\/ent.news\/audio\/2023\/5\/.247db76b-e289-424a-af72-0a6c0619a156.mp3\"><\/audio><\/figure><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span><\/span><\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:700\">Good morning, friends, and welcome to a very busy news day<\/span><span>, with news on everything from privatization and infrastructure investment to the FX crunch and the ongoing competition to see who will take control of paintmaker Pachin. <\/span><\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:700;\">HAPPENING TODAY-<\/span><\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"\"> <a id=\"wwtt2\"><\/a> <\/span><span style=\"font-weight:700\">#1- It\u2019s deadline day for Pachin shareholders:<\/span><span style=\"\"> Shareholders in <\/span><span>EGX-listed paints company Pachin have until the end of today\u2019s trading session to decide whether to sell <\/span><span style=\"font-weight:400;\">their shares to National Paints Holding (NPH) or Eagle Chemicals.<\/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 offers:<\/span><span> In an <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/79e85a7d-b197-43f6-9148-05543ccf0442\" style=\"\">ongoing mandatory tender offer<\/a><\/span><span>, Dubai-based NPH is offering <\/span><span style=\"font-weight:700\">EGP 39.80 per share<\/span><span> and Eagle Chemicals is offering <\/span><span style=\"font-weight:700\">EGP 39.00<\/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\">The state of play:<\/span><span> As of last night, shareholders owning around 30% of the company \u2014 representing 7.28 mn shares \u2014 had agreed to sell their shares to NPH, according to <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/hapijournal.com\/?p=233707\" style=\"\">Hapi Journal<\/a><\/span><span style=\"font-weight:400;\">. None of the shareholders have responded to Eagle\u2019s offer, according to the newspaper.<\/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=\"font-weight:400;\"> NPH or Eagle Chemicals need to acquire at least 75% of the company for the MTO to go through.<\/span><\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"\"><a id=\"wwtt1\"><\/a> <\/span><span style=\"font-weight:700\">#2- The African Private Equity and Venture Capital Association\u2019s <\/span><span style=\"-webkit-text-decoration-skip:none;font-weight:700;text-decoration-skip-ink:none\"><a href=\"https:\/\/www.avcaconference.com\/\" style=\"\">annual summit<\/a><\/span><span style=\"font-weight:700\">:<\/span><span style=\"font-weight:400;\">AVCA\u2019s annual get-together and VC summit continues at the Four Seasons Nile Plaza today. Billing itself as the world\u2019s largest Africa-focused private capital gathering, the five-day summit is bringing together investors with more than USD 1.5 tn in assets under management.  Multilateral lenders and policymakers are also attending.<\/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\">#3- It\u2019s Fed week: <\/span><span style=\"\">The US Federal Reserve will hold its two-day policy meeting on <\/span><span>Tuesday and Wednesday \u2014 and signs point to a 25-bps interest rate hike as the Fed works to contain <\/span><span>soaring inflation, according to <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/www.bloomberg.com\/news\/articles\/2023-04-30\/fed-meeting-preview-powell-faces-rate-hike-decision-amid-sticky-us-inflation?srnd=premium-middle-east&amp;leadSource=uverify%20wall\" style=\"\">Bloomberg<\/a><\/span><span style=\"font-weight:400;\">. A 25-bps hike will push the fed funds rate to 5-5.25% \u2014 the highest level since 2007 \u2014 and would be the tenth consecutive hike by the central bank since it started aggressively tightening policy to curb inflation last year. <\/span><\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:700\">USD direction hinges on Fed\u2019s policy outlook:<\/span><span style=\"\"> Hedge funds and investors wager <\/span><span>that the greenback will erase all of the gains made last year as the Fed winds down its tightening cycle, according to <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/www.bloomberg.com\/news\/articles\/2023-05-01\/hedge-funds-bet-dollar-to-erase-hike-cycle-gains-as-fed-peaks#xj4y7vzkg\" style=\"\">the business information service writes<\/a><\/span><span>. Traders widely expect the central bank to hike for the final time this week, before holding rates and starting to lower them towards the end of the year. Meanwhile, the <\/span><span style=\"font-weight:700\">UK and European central banks will continue their hawkish stances in the coming months<\/span><span style=\"font-weight:400;\">, putting more pressure on the USD against major currencies.<\/span><\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:700\">PSA- Thursday is a national holiday <\/span><span style=\"font-weight:400;\">in observance of Labor Day. <\/span><\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:400;\"><\/span><\/p><hr style=\"height:2px;border-width:0;color:gray;background-color:gray\"><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:700\">IN THE HOUSE TODAY<\/span><span style=\"font-weight:700\">-<\/span><span style=\"\"> Religious Endowments Minister Mohamed Mokhtar <\/span><span>Gomaa will answer questions from MPs on the ministry\u2019s role in reforming religious discourse and improving the finances of mosque clerics. <\/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 committee:<\/span><\/p><ul>\n<li><span style=\"font-weight:700\">The Economic Affairs Committee <\/span><span>will review the Egyptian Competition Authority\u2019s role in shielding consumers from <\/span><span style=\"font-weight:700\">price gauging<\/span><span style=\"font-weight:400;\"> by retailers and others sellers amid the FX crunch.<\/span><\/li>\n<li><span style=\"font-weight:700\">The SMEs Committee <\/span><span>will discuss measures taken by the Industrial Development Authority (IDA) to simplify <\/span><span style=\"font-weight:700\">licensing procedures for manufacturers<\/span><span style=\"font-weight:400;\">. MPs also think that 13 industrial complexes failed to deliver on the IDA\u2019s plans for 2023.<\/span><\/li>\n<li><span style=\"font-weight:700\">The Industrial Committee <\/span><span>will look into issues facing investors at industrial zones in <\/span><span style=\"font-weight:700\">Minya and Borg Al Arab<\/span><span style=\"font-weight:400;\">.<\/span><\/li>\n<\/ul><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:700;\">FX WATCH-<\/span><\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"\"> <\/span><span style=\"font-weight:700\">Net foreign liabilities hit a fresh high in March:<\/span><span style=\"\"> Our net foreign <\/span><span>assets position deteriorated again in March, falling to negative USD 24.5 bn from <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/0a4f3b0b-8509-4ae7-a187-137f5f5b5a75\" style=\"\">USD 23 bn in February<\/a><\/span><span>, according to <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/ent.news\/2023\/5\/36.png\" style=\"\">central bank figures<\/a><\/span><span>, EFG Hermes said in a note to clients yesterday<\/span><span style=\"font-weight:400;\">. Though central bank liabilities improved slightly during the month, net foreign assets were weighed down by the banking system, which saw liabilities widen to a record USD 15.5 bn on the back of a reduction of foreign assets.<\/span><\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:700\">CBE to consult staff:<\/span><span style=\"\"> Net foreign liabilities have now grown by more than USD 3.8 bn over the <\/span><span>past three months. The central bank is now expected to consult with IMF staff under our latest<\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/ent.news\/2023\/5\/84.pdf\" style=\"\">agreement (pdf)<\/a><\/span><span> w<\/span><span>ith the IMF<\/span><span style=\"font-weight:400;\">, which says that the CBE will discuss NFAs if they fall by USD 2 bn or more in a three-month period (see page 11, pdf).<\/span><\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:700\">MEANWHILE- A successful t-bill auction:<\/span><span style=\"\"> The central bank sold more than USD 1.0 bn of <\/span><span>USD-denominated one-year treasury bills to investors yesterday at an average yield of 4.9%, according to <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/ent.news\/2023\/5\/56.jpg\" style=\"\">central bank figures<\/a><\/span><span>.<\/span><\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"\"><a id=\"wwtt3\"><\/a> <\/span><span style=\"font-weight:700\">AND- Oil Ministry extends oil + gas tender until June:<\/span><span style=\"\"> The Oil Ministry has extended <\/span><span>its tender for <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/2b0c7d75-f265-4f8c-bb07-2c09bdc2d9d7\" style=\"\">12 exploration blocks<\/a><\/span><span> in the Mediterranean and Nile Delta until the beginning of June, <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/bit.ly\/3AOKrTv\" style=\"\">Al Mal<\/a><\/span><span style=\"font-weight:400;\">reported yesterday, citing an unnamed government source. The tender was originally set to conclude on 30 April, but was extended to give companies more time to study the blocks offered. The tender includes six onshore blocks and six offshore blocks. <\/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 THIS WEEK-<\/span><\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:700\">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:400;\"><\/span><\/p><div class=\"row\">\n<div class=\"col-md-12 subscribe-box-panel\">\n<div class=\"\">\n<div class=\"title\">\n<h4 class=\"fw-lighter mb-10\">\n          Get <b style=\"font-weight: 700\">Enterprise<\/b> daily<br>\n        <\/h4>\n<\/div>\n<p class=\"mb-10\">The roundup of news and trends that move your markets and shape corporate agendas delivered straight to your inbox.<\/p>\n<p>     <a href=\"egypt\/en\/user\/NewsLetters\" type=\"button \" class=\"btn-green px-3 d-flex align-items-center\">Subscribe here<\/a>\n    <\/p><\/div>\n<\/div>\n<\/div><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:700;\">THE BIG STORIES ABROAD-<\/span><\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:700\">US banks continue to face pressure following seizure of First Republic: <\/span><span style=\"\">An index of <\/span><span>regional US banks fell almost<\/span><span> 3%<\/span><span> during trading yesterday following the collapse of First Republic Bank. JPMorgan <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/2bfe9299-9bcf-4aba-9a0e-4e811260f6e3\" style=\"\">agreed to acquire<\/a><\/span><span> most of the troubled lender on Monday while the rest will be taken over by the Federal Deposit Insurance Corporation \u2014 an arrangement that makes the bank the fourth victim of the recent banking crisis. (<\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/www.reuters.com\/business\/finance\/first-republic-collapse-sparks-sector-wide-regional-bank-shares-sell-off-2023-05-01\/\" style=\"\">Reuters<\/a><\/span><span> | <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/www.ft.com\/content\/0c61a540-e6be-4bca-8054-841d9983756b\" style=\"\">FT<\/a><\/span><span> | <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/www.cnbc.com\/2023\/05\/01\/the-first-republic-deal-has-come-at-a-crucial-point-for-the-markets-and-economy.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- The game of chicken over the debt ceiling:<\/span><span style=\"\"> US Treasury <\/span><span>Secretary Janet Yellen has again <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/home.treasury.gov\/news\/press-releases\/jy1454\" style=\"\">urged Congress<\/a><\/span><span> to raise or suspend the debt ceiling before 1 June or the country will face the risk of defaulting on its financial obligations. (<\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/www.wsj.com\/articles\/treasury-secretary-janet-yellen-says-u-s-could-default-as-soon-as-june-1-without-a-debt-ceiling-increase-6714ed7c\" style=\"\">Wall Street Journal<\/a><\/span><span> | <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/www.washingtonpost.com\/business\/2023\/05\/01\/congress-debt-limit-deadline-biden-mccarthy\/\" style=\"\">Washington Post<\/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;\"><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\/5\/50.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 Expo<\/span><span style=\"font-weight:700\">rts &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\">Expect the gathering to be heavy on lessons learned in Egypt and other global growth markets \u2014 and to feature 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 |<\/span><span> GlobalCor<\/span><span>p | Grant Thornton | Hassan Allam Utilities | <\/span><span>Royal Ceramica<\/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:400;\"><img data-recalc-dims=\"1\" decoding=\"async\" src=\"https:\/\/i0.wp.com\/enterprise.press\/wp-content\/uploads\/2021\/03\/INFINITY-Top-banner-EN-1600x675-v2-02.png\"><\/span><\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:700\">*** It\u2019s Going Green day \u2014 your weekly briefing of all things green in Egypt:<\/span><span> Enterprise\u2019s green economy vertical focuses each Tuesday on the business of renewable energy and sustainable practices in Egypt, everything from solar and wind energy through to water, waste management, sustainable building practices and how you can make your business greener, whatever the sector.<\/span><\/p>\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\/eagle-chemicals\/\">Eagle Chemicals<\/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\/ma-watch\/\">M&amp;A Watch<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/national-paints-holding\/\">National Paints Holding<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/pachin\/\">Pachin<\/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=\"585926 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=\"585926\">\r\n            \r\n            <div class=\"story__body\">\r\n\r\n                <a href=\"https:\/\/enterpriseam.com\/egypt\/2023\/05\/02\/585926\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-585926\" class=\"content-area-description single-story post-585926 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\/5\/46.jpg?ssl=1\"><\/a><\/span><\/p><div class=\"grouped-tags\">\n<p><span style=\"font-weight:700\">The World Aquatics Festival at Somabay:<\/span><span> Three remarkable aquatic tournaments will be held together for the first time in Egypt, presented by the World Aquatics Federation and the Egyptian Swimming Federation in partnership with Somabay. Prepare yourself for the action.  <\/span><span style=\"font-weight:700\">8-9 May:<\/span><span> Open-Water Swimming World Cup. <\/span><span style=\"font-weight:700\">13-15 May:<\/span><span> Artistic Swimming World Cup. <\/span><span style=\"font-weight:700\">12-15 May:<\/span><span> World Beach Water Polo Qualifiers <\/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=\"585927\" 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=\"585927\">\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\">Infrastructure<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2023\/05\/02\/a-very-long-shortlist-underscores-tons-of-interest-in-desalination-projects\/\">\r\n                            Egypt\u2019s sovereign fund has prequalified 17 consortiums for upcoming desalination tenders                        <\/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\/05\/02\/a-very-long-shortlist-underscores-tons-of-interest-in-desalination-projects\/\" 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\/05\/02\/a-very-long-shortlist-underscores-tons-of-interest-in-desalination-projects\/')\">\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\/05\/02\/a-very-long-shortlist-underscores-tons-of-interest-in-desalination-projects\/\">\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=A very long shortlist underscores tons of interest in desalination projects&url=https:\/\/enterpriseam.com\/egypt\/2023\/05\/02\/a-very-long-shortlist-underscores-tons-of-interest-in-desalination-projects\/\">\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\/05\/02\/a-very-long-shortlist-underscores-tons-of-interest-in-desalination-projects\/&title=A very long shortlist underscores tons of interest in desalination projects\">\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=A+very+long+shortlist+underscores+tons+of+interest+in+desalination+projects+https%3A%2F%2Fenterpriseam.com%2Fegypt%2F2023%2F05%2F02%2Fa-very-long-shortlist-underscores-tons-of-interest-in-desalination-projects%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\/05\/02\/a-very-long-shortlist-underscores-tons-of-interest-in-desalination-projects\/\">\r\n                    <div class=\"photo photo--above\">\r\n                        <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2023\/5\/85.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"585928\" data-permalink=\"https:\/\/enterpriseam.com\/egypt\/2023\/05\/02\/a-very-long-shortlist-underscores-tons-of-interest-in-desalination-projects\/85-jpg-15\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2023\/5\/85.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"85.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2023\/5\/85.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2023\/5\/85.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-585927\" class=\"content-area-description single-story post-585927 post type-post status-publish format-standard has-post-thumbnail hentry category-infrastructure tag-enterpriseam tag-finance-ministry tag-infrastructure tag-sovereign-fund-of-egypt tag-water tag-water-security 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\/.45cc61be-52eb-4993-9f35-4f1f6d91b31e.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\">In the running for the SFE\u2019s desalination tenders:<\/span><span style=\"\"> The Sovereign Fund of <\/span><span>Egypt has prequalified <\/span><span>17 c<\/span><span>onsortiums to bid in its upcoming tenders for renewables-powered <\/span><span style=\"\">desalination projects, it said in <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/ent.news\/2023\/5\/19.pdf\" style=\"\">a statement (pdf)<\/a><\/span><span style=\"\"> yesterday<\/span><span style=\"\">. The firms were chosen with the technical help of the Finance Ministry\u2019s public-private partnerships (PPP) unit. <\/span><span>More than 25 consortiums applied,<\/span><span>the fund told Enterprise.<\/span><\/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 big picture:<\/span><span> Announced a few years ago to bolster the country\u2019s water security, the government\u2019s water desalination program aims to add 8.85 mn cbm\/d of capacity by 2050, according to the release. Plants developed during the initial phase will process a combined 3.35 mn cbm\/d by 2025, 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\">What\u2019s next: <\/span><span>The SFE is planning to have three or four of these plants tendered b<\/span><span>y 3Q 2023<\/span><span style=\"\">,<\/span><span>an SFE spokesperson told Enterprise yesterday. Contracts for the remaining plants in the program\u2019s first phase should be signed in the next <\/span><span>18-24 months<\/span><span style=\"font-weight:400;\">, they added. <\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:700\">The prequalifying consortiums have been split into four groups <\/span><span style=\"\">determining the size of the plants they can bid for based on their previous experience in the field. Prequalified bidders include a number of major Gulf, Chinese, Japanese, and European companies, as well as top local names Infinity Energy, Hassan Allam Holding, Orascom Construction, and Elsewedy Electric. <\/span><span style=\"font-weight:400;\">Companies chosen in the final stage will develop, construct, and operate the plants. <\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:700\">DFIs are lending a helping hand: <\/span><span>The European Bank for Reconstruction and Development (EBRD) and the International Finance Corporation (IFC) are <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/7afa051f-0d4d-4fb3-a809-d033b0e170ab\" style=\"\">advising the SFE<\/a><\/span><span> on technical and legal aspects of the public-private partnerships as well as ESG assessments for the projects \u201cin order to bring to the market a solid investment product,\u201d the release reads. <\/span><span style=\"font-weight:700\">The SFE will be investing in the plants alongside successful private-sector players.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:700\">Costs are TBD: <\/span><span>The Finance Ministry is ascertaining the size of the required investment against the backdrop of global inflation and a weaker EGP<\/span><span style=\"font-weight:700\">, <\/span><span>a senior government source with first-hand knowledge of the process <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/84d7045a-c521-4048-ad7b-2a0558a1f5fa\" style=\"\">told<\/a><\/span><span> Enterprise back in March. <\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:700;\">IN THE RUNNING- <\/span><\/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 big hitters:<\/span><span style=\"font-weight:400;\"> Category A consortiums can bid for plants with a capacity of up to 1 mn cubic meters per day (cmb\/d). <\/span><\/p>\n<ul>\n<li><span style=\"font-weight:400;\">Hassan Allam Holding and Engie<\/span><\/li>\n<li><span style=\"font-weight:400;\">Orascom Construction, Scatec, Toyota Tsusho Corp, Acciona Agua, and Metito Utilities<\/span><\/li>\n<li><span style=\"font-weight:400;\">ACWA Power<\/span><\/li>\n<li><span style=\"font-weight:400;\">Sumitomo Corporation<\/span><\/li>\n<li><span style=\"font-weight:400;\">Enertech Holding Co, Utico FZC, and SEPCO<\/span><\/li>\n<li><span style=\"font-weight:400;\">Concrete Plus, Abengoa, and Cuasar<\/span><\/li>\n<li><span style=\"font-weight:400;\">Infinity Energy, GS Inima, and China Energy Engineering Corporation<\/span><\/li>\n<li><span style=\"font-weight:400;\">AEW, Gama, SOGEX, and WABAG<\/span><\/li>\n<li><span style=\"font-weight:400;\">Sacyr Agua<\/span><\/li>\n<li><span style=\"font-weight:400;\">TAM Environmental Services, Desalia SL, and Al Ahly Capital<\/span><\/li>\n<li><span style=\"font-weight:400;\">Meridiam Infrastructure Africa Fund II, Suez International, and Elsewedy Electric<\/span><\/li>\n<\/ul>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:700\">In the running to build medium-sized plants<\/span><span style=\"font-weight:400;\"> with a capacity of up to 600k cbm\/d: <\/span><\/p>\n<ul>\n<li><span style=\"font-weight:400;\">AMEA Power Ltd, Safbon, ICAT<\/span><\/li>\n<li><span style=\"font-weight:400;\">Aqualia, Globeleq, Ignis, and Samcrete<\/span><\/li>\n<li><span style=\"font-weight:400;\">Taqa Arabia, and Al Ghanem International<\/span><\/li>\n<li><span style=\"font-weight:400;\">Beijing Enterprises Water Group Ltd, and Asia-Africa Green Energy Investment<\/span><\/li>\n<\/ul>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:700;\">Up for smaller plants:<\/span><\/p>\n<ul>\n<li><span style=\"\">A consortium of Sinohydro Hong Kong Holding Ltd, Qingdao Desalination, and SEPCO III Electric Power can bid for plants with capacities of <\/span><span style=\"font-weight:700;\">up to 400k cbm\/d<\/span><\/li>\n<li><span style=\"\">A consortium of Desal Egypt, EMCO Engineering, Amarenco Solarize Egypt, and Redcon Construction are in the running to build the smallest projects with <\/span><span style=\"font-weight:700\">up to 200k cbm\/d<\/span><span style=\"font-weight:400;\"> of capacity. <\/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\/finance-ministry\/\">Finance Ministry<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/infrastructure\/\">infrastructure<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/sovereign-fund-of-egypt\/\">Sovereign Fund of Egypt<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/water\/\">water<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/water-security\/\">water security<\/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=\"585929\" 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=\"585929\">\r\n            \r\n                <div class=\"issue-story-header text-center\">\r\n                    <div class=\"index-number\">3<\/div>\r\n\r\n                    <p class=\"f-graphik\">Privatization<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2023\/05\/02\/secondary-stake-sales-for-abu-qir-sidpec\/\">\r\n                            Egypt gov\u2019t could sell secondary stakes in EGX-listed petchem players Abu Qir and Sidpec                        <\/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\/05\/02\/secondary-stake-sales-for-abu-qir-sidpec\/\" 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\/05\/02\/secondary-stake-sales-for-abu-qir-sidpec\/')\">\n                    Copy Link                <\/a>\n\n            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class=\"story__body\">\r\n\r\n                <a href=\"https:\/\/enterpriseam.com\/egypt\/2023\/05\/02\/secondary-stake-sales-for-abu-qir-sidpec\/\">\r\n                    <div class=\"photo photo--above\">\r\n                        <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2023\/5\/87.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"585930\" data-permalink=\"https:\/\/enterpriseam.com\/egypt\/2023\/05\/02\/secondary-stake-sales-for-abu-qir-sidpec\/87-jpg-20\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2023\/5\/87.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"87.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2023\/5\/87.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2023\/5\/87.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-585929\" class=\"content-area-description single-story post-585929 post type-post status-publish format-standard has-post-thumbnail hentry category-privatization-watch tag-abu-qir-fertilizers tag-egx tag-enterpriseam tag-ma-watch tag-privatization-watch tag-sidi-kerir-petrochemicals wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t\n<figure class=\"wp-block-audio mb-0\"><audio controls preload=\"metadata\" src=\"https:\/\/s3.us-east-1.amazonaws.com\/ent.news\/audio\/2023\/5\/.ee93968b-b353-49b1-8482-a579fee8a15c.mp3\"><\/audio><\/figure>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"\"> <\/span><span style=\"font-weight:700\">Abu Qir Fertilizers + Sidpec to join the privatization list? <\/span><span style=\"\">The Madbouly <\/span><span>government is reportedly considering selling secondary stakes in state-owned, EGX-listed companies Abu Qir Fertilizers and Sidi Kerir Petrochemicals (Sidpec),<\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/bit.ly\/3Nv2aqK\" style=\"\">Al Mal<\/a><\/span><span> rep<\/span><span style=\"font-weight:400;\">orts, citing unnamed sources it says are in the know. There is no publicly available information about the size of the possible transactions, the timeline, or who is advising. <\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:700\">Promising murmurs: <\/span><span style=\"\">Officials are currently re-evaluating Abu Qir\u2019s market value in light <\/span><span>of a positive 1Q 2023 performance and the depreciation of the EGP, <\/span><span>a government official told Enterprise yesterday on condition of anonymity<\/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\">Strong 1Q performance could help:<\/span><span style=\"\"> Both companies reported that their net incomes more <\/span><span>than doubled in 1Q supported by strong revenue growth. Abu Qir revenues <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/97acfb5f-d20b-45e6-90ea-cf87c1a3eefc\" style=\"\">increased 80%<\/a><\/span><span> y-o-y to EGP 6.4 bn during the quarter while Sidpec\u2019s top line <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/6ca115dd-17b3-42a9-8f83-5e2f750e581b\" style=\"\">grew almost 70%<\/a><\/span><span style=\"font-weight:400;\"> to EGP 8.7 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\">Market reax: <\/span><span>Abu Qir\u2019s <\/span><span>shares<\/span><span> fell 4.7% to close at EGP 47.37 apiece on Monday, while<\/span><span>Sidpec\u2019s<\/span><span> shares<\/span><span> lost 1.5% to close at EGP 22.16. <\/span><span style=\"font-weight:400;\">The benchmark EGX30 was down 2.0% yesterday, leaving the market up nearly 19% since 1 January.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:700\">An easier sell? <\/span><span style=\"\">The fact that the two firms are already listed on the EGX as well as investors\u2019 <\/span><span style=\"font-weight:400;\">interest in the petrochemical and fertilizer sectors could make their inclusion in the government\u2019s privatization program more likely, Al Mal\u2019s sources are quoted as saying. <\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:700\">Gulf investors already own significant minority stakes in Abu Qir: <\/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\/316415e5-ccc3-42ca-b442-80dd3b8b2e16\" style=\"\">Saudi<\/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\/b4a11664-2159-45ba-ba2f-bf0d3dfd3978\" style=\"\">Emirati<\/a><\/span><span>wealth funds together acquired more than 40% of the state-owned company last year. The purchases were part of a broader acquisition drive which saw the funds spend USD 3.1 bn to buy government-owned shares of EGX listed companies. Some 30.5% of the company is still <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/ent.news\/2023\/5\/14.pdf\" style=\"\">held (pdf)<\/a><\/span><span style=\"font-weight:400;\"> by state-owned entities, a 5.0% stake is held by the Abu Qir workers\u2019 union, and the remainder (c.23%) is in freefloat. <\/span><\/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 they could be eyeing Sidpec post its merger with Ethydco:<\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/8139ef09-3213-43db-bdbd-3aa9d0fd88dc\" style=\"\">An unconfirmed report in<\/a><\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/8139ef09-3213-43db-bdbd-3aa9d0fd88dc\" style=\"\">February<\/a><\/span><span> suggested that Gulf investors could look to acquire between 16-20% of the company that will be formed by the ongoing merger between Sidpec and <\/span><span>Egyptian Ethylene and Derivatives Company (Ethydco<\/span><span>). Ethydco was among <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/a94808c5-7a0c-4027-a786-804f2dc35954\" style=\"\">the 32 companies<\/a><\/span><span style=\"font-weight:400;\"> named on the privatization list. <\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:700\">Gov\u2019t wants to raise USD 2 bn from asset sales by June:<\/span><span style=\"\"> Prime Minister Moustafa Madbouly <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/b76ec80b-bf18-47d1-bf53-07b5b9cefb8f\" style=\"\">last week said<\/a><\/span><span> the government is aiming to raise up USD 2 bn from asset sales by June. The PM was speaking a few days after S&P Global Ratings became the latest to warn that stalling reform efforts are raising the likelihood that the country slides into default.<\/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\/abu-qir-fertilizers\/\">Abu Qir Fertilizers<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/egx\/\">EGX<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/ma-watch\/\">M&amp;A Watch<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/privatization-watch\/\">privatization watch<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/sidi-kerir-petrochemicals\/\">Sidi Kerir Petrochemicals<\/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=\"585931\" 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=\"585931\">\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\">Investment Watch<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2023\/05\/02\/saudi-electronics-retailer-extra-shelves-egypt-expansion-plans\/\">\r\n                            Saudi electronics retailer Extra shelves Egypt expansion plans                        <\/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\/05\/02\/saudi-electronics-retailer-extra-shelves-egypt-expansion-plans\/\" target=\"_blank\">\n                    Open in new tab                   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class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"585932\" data-permalink=\"https:\/\/enterpriseam.com\/egypt\/2023\/05\/02\/saudi-electronics-retailer-extra-shelves-egypt-expansion-plans\/63-jpg-17\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2023\/5\/63.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"63.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2023\/5\/63.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2023\/5\/63.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-585931\" class=\"content-area-description single-story post-585931 post type-post status-publish format-standard has-post-thumbnail hentry category-investment-watch tag-egypt-saudi-relations tag-enterpriseam tag-extra tag-investment-watch tag-retail 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\/.95575361-bf6a-4074-ac13-6619bf408076.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\">Saudi retailer scraps plans to set up shop in Egypt:<\/span><span style=\"\"> Saudi electronics retailer <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/www.extra.com\/en-sa\/\" style=\"\">Extra<\/a><\/span><span>, formally known as United Electronics Company, has shelved plans to establish a <\/span><span style=\"\">subsidiary in Egypt, it said in <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/www.saudiexchange.sa\/wps\/portal\/saudiexchange\/newsandreports\/issuer-news\/issuer-announcements\/issuer-announcements-details\/!ut\/p\/z1\/jZDLDoJADEW_xQVbWuUhusOIGB8RNAaYjRkURxJgCI4S_t5RVxhf3bU99_amQCAEUtBryqhIeUEz2UfE3Bm2ib2phSt30nPQnwxG_thxuzjXIWgDuPEMCXhLbYFrdNEE8o8eP5SNv_XkK-L2X4E3ER_AlwwzICzj8fMfdhFrFgNSJcekSir1UsnxSYjyPFRQwbquVcY5yxJ1z3MF30lO_CwgbJN37u7yMBH0QOtLJtVErkpaNJsmj7k8pCNqUObbEFMvDyxhRHancwPLim7R\/dz\/d5\/L0lDU0lKQ2dwUkNncFJDaUNsRUtJS1VRIS9ZQVVFQUFBSUlNSUVBSUNLR0tHQ0tPQk9CQ09KSkZKRk5JRUVKRERMRExOREFBISEvNEpDaWpzWXBNaFRqVUU1Q2ttb3ByZHRMWXpVczF1MmxzNXFDUUEhIS9aN181QTYwMkg4ME8wSFRDMDYwU0c2VVQ4MURRNi9aNl81QTYwMkg4ME8wSFRDMDYwU0c2VVQ4MURJMy9BTk5PVU5DRU1FTlRfTlVNQkVSLzczMjc5L2NvbXBhbnlTeW1ib2wvNDAwMy9odHRwOiUwJTB0YWRhd3VsJTAvYW5uQ2F0LzEvYW5JZA!!\/\" style=\"\">a disclosure<\/a><\/span><span style=\"\"> to the Saudi stock exchange yesterday. The board of directors made the decision on Sunday after reviewing a feasibility study, the statement reads, without giving color or detail on the <\/span><span style=\"\">rationale<\/span><span style=\"font-weight:400;\"> behind the decision. \u201cFurther announcements will be made to explain any material developments in this regard,\u201d the statement says.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:700\">Background:<\/span><span style=\"\"> Extra <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/3346103e-b28e-4aa2-a573-fa4e206c2fdd\" style=\"\">said<\/a><\/span><span style=\"\"> in December 2021 that it would <\/span><span style=\"\">spend some EGP 1 bn to launch a fully-owned <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/www.saudiexchange.sa\/wps\/portal\/saudiexchange\/newsandreports\/issuer-news\/issuer-announcements\/issuer-announcements-details\/!ut\/p\/z1\/lZLRToMwFIafZRdcmnMAKeBdnbFjGTIEFHqzlI1MEmiJ6TTz6SVyxSab9q7N9-c_30mBQw5cio96L3StpGj6e8HJxqEErYWHES7SORJMGMlSz3wIbHgdA17ICMZPNI4s10H2gsD_lcdk7WD8uA7tFT4jQ_K3PE4cerW_6PPuNGBCAhx4eUyObakaKG4R7eGFSqkOclu1ldRQmP0kfFwWUd_tXZb3LFhR2yPuKfDLsk7GPd_GD3BJ96KwRSAR71ekYzJIb1XbCTk2XwLfN6ocfsab1t2dgQZqsROfh8bo64WUc6EhN6eBYAc5cXzfgq7NsvwrrUo_qIMb1m5C7RR0NvsG1nCwYA!!\/dz\/d5\/L0lHSkovd0RNQU5rQUVnQSEhLzROVkUvZW4!\/\" style=\"\">subsidiary<\/a><\/span><span style=\"font-weight:400;\"> in Egypt, a move that would have marked its first expansion outside the GCC. The Tadawul-listed company sought to acquire a 10% market share within a decade as it looked to tap the biggest consumer market in the Middle East. <\/span><\/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 losses? <\/span><span style=\"\">\u201cThe expected negative financial impact of discontinuing the company's expansion plans in Egypt is about SAR 38 mn,\u201d according to the statement. That\u2019s the equivalent of c. EGP 314.6 mn. <\/span><span style=\"\">The company\u2019s net income slipped 13% y-o-y in 1Q 2023 despite rising sales, according to <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/www.saudiexchange.sa\/wps\/portal\/saudiexchange\/newsandreports\/issuer-news\/issuer-announcements\/issuer-announcements-details\/!ut\/p\/z1\/jZFBj4IwEIV_jVc70qXg3lCxYgRkkRV6MWVlkQSoQZT477dqsokoxt7afm_mvRnEUIhYyU9ZyutMlDyX94iRjWoQUGY6uDBbjYGAT0mw0gcTC6N1C_CXKnjTpY0X8AUUCGLv6KHjGPCe_h_QbUrAcwzPVTQV6PcbenaP0KliygTDkTcx6QCo1gaeRLwCrzK8dKGQNuAaQ022mI-otTCwTh48PMacI5bmIr6tzChjrKeIVclvUiVV_1jJ511d7w-fPehB0zT9VIg0T_o_oujBM8lOHGoU3pMX7lLlWqTmW94cc6lm8mvPy7N_LmIhG30A4C6Ul-WYy8KDbsDaolDDijZEkdyt1jk2jyD_MhfDcdzAGZu26aw2TmCPzC8U3Qqwtrfo6m1fBEEImZUti7Veq_EZ56ei0Js_cwUXkg!!\/dz\/d5\/L0lJS2FZQSEhL3dMTUFBc1FBaWpNQy80TmxHb3hBIS9aNl81QTYwMkg4ME8wSFRDMDYwU0c2VVQ4MURJMy83MzA4Nw!!\/\" style=\"\">preliminary figures<\/a><\/span><span style=\"font-weight:400;\"> released by the company last month.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:700\">The news got ink internationally:<\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/www.reuters.com\/world\/middle-east\/saudis-united-electronics-co-shelves-plans-egypt-expansion-2023-05-01\/\" style=\"\">Reuters<\/a><\/span><span style=\"font-weight:400;\">.<\/span><\/p>\n\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/egypt-saudi-relations\/\">Egypt-Saudi relations<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/extra\/\">eXtra<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/investment-watch\/\">investment watch<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/retail\/\">retail<\/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=\"585933\" 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=\"585933\">\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\">LEGISLATION WATCH<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2023\/05\/02\/controversial-new-labor-bill-is-back-on-the-table-as-el-sisi-announces-measures-to-support-day-laborers\/\">\r\n                            A new labor bill is back on the table in Egypt as El Sisi announces measures to support day laborers                        <\/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    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data-permalink=\"https:\/\/enterpriseam.com\/egypt\/2023\/05\/02\/controversial-new-labor-bill-is-back-on-the-table-as-el-sisi-announces-measures-to-support-day-laborers\/40-jpg-14\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2023\/5\/40.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"40.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2023\/5\/40.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2023\/5\/40.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-585933\" class=\"content-area-description single-story post-585933 post type-post status-publish format-standard has-post-thumbnail hentry category-legislation-watch tag-abdel-fattah-el-sisi tag-economy tag-enterpriseam tag-legislation-watch wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<figure class=\"wp-block-audio mb-0\"><audio controls preload=\"metadata\" src=\"https:\/\/s3.us-east-1.amazonaws.com\/ent.news\/audio\/2023\/5\/.61652b51-09cf-4791-b782-7976fa620a25.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 Labor Act is making a comeback:<\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/8154336d-5f19-46c1-8a9c-ac176dc579c0\" style=\"\">Controversial labor legislation<\/a><\/span><span style=\"\"> withdrawn <\/span><span>from the House of Representatives last year will be restudied by the government, President Abdel Fattah El Sisi said yesterday. <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/bit.ly\/3Nte04W\" style=\"\">Speaking<\/a><\/span><span> at an event to mark Labor Day, the president said that representatives of employers and workers will be consulted on the bill <\/span><span style=\"\">(<\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/www.youtube.com\/watch?v=wrlrIxqBYbc\" style=\"\">watch, runtime: 2:03:10<\/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\">Reminder:<\/span><span style=\"\"> The bill was <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/871ea863-674f-43ae-86c0-eca62612c541\" style=\"\">pulled from the House<\/a><\/span><span style=\"\"> earlier this year to be redrafted by the <\/span><span style=\"font-weight:400;\">government after backlash from the business community, which said the bill was lopsided in favor of workers. Prior to the redraft, the bill would have introduced new labor rights including legislating mandatory annual raises, caps on working hours, and longer maternity leave and notice periods, among other things.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:700\">Disability quotas:<\/span><span style=\"\"> The president also said that the government will lean on public- and <\/span><span style=\"\">private-sector companies to meet the 5% employment quota for disabled workers. <\/span><span style=\"font-weight:400;\">That tracks with anecdotal evidence Enterprise has of labor inspectors making the rounds in weeks to specifically review compliance with the quota,<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:700\">Day laborers are getting an emergency fund: <\/span><span style=\"\">The Madbouly government will <\/span><span style=\"\">establish an emergency fund for day laborers and others in the informal economy, <\/span><span style=\"font-weight:400;\">El Sisi said. The government will transfer the irregular workers\u2019 social ins. dues to the fund and give them access to it in case of emergencies. <\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:700\">A one-time EGP 1k payout: <\/span><span style=\"font-weight:400;\">Irregular workers not benefiting from ongoing social protection programs will be getting a one-time payment of EGP 1k as soon as the fund is established, El Sisi said.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:700\">The state calls these folks \u201cirregular\u201d workers <\/span><span style=\"\">\u2014 a term that applies to any part-time, seasonal, informal, or self-employed worker. Recent figures by Manpower Ministry officials put the number of irregular workers in Egypt <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/www.almasryalyoum.com\/news\/details\/2777897\" style=\"\">at 10-11 mn<\/a><\/span><span style=\"\">. The government had disbursed a <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/5799a8e8-414d-41a5-8824-b0ee3ee1edd4\" style=\"\">monthly EGP 500<\/a><\/span><span style=\"font-weight:400;\"> stipend to seasonal workers throughout most of 2020 to help compensate them for lost income due to the pandemic.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:700\">ALSO- Aman ins. certificates are making a comeback<\/span><span style=\"\">,<\/span><span style=\"\">El Sisi said. The CDs were <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/enterprise.press\/stories\/2018\/03\/04\/president-el-sisi-launches-new-insurance-scheme-for-laborers\/\" style=\"\">i<\/a><\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/enterprise.press\/stories\/2018\/03\/04\/president-el-sisi-launches-new-insurance-scheme-for-laborers\/\" style=\"\">ntroduced in 2018<\/a><\/span><span style=\"font-weight:400;\"> to provide ins. coverage and monthly pensions for irregular workers at 16% interest. The certificates required a deposit of between EGP 500-2.5k and offered coverage for natural and accidental death and one-time payments of EGP 10-250k or monthly pensions of EGP 200-1k over a five-year period. It is still unclear how the CDs will be adjusted to reflect recent inflationary pressures and the big dip the exchange rate has taken since 2018. <\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:700\">ALSO <\/span><span style=\"font-weight:700\">FROM EL SISI\u2019S SPEECH<\/span><span style=\"font-weight:700\">: <\/span><\/p>\n<ul>\n<li><span style=\"\">Gov\u2019t to push employers to comply with <\/span><span style=\"font-weight:700\">international labor standards<\/span><span style=\"font-weight:400;\">;<\/span><\/li>\n<li><span style=\"font-weight:700\">Manpower Ministry<\/span><span> to launch a <\/span><span style=\"font-weight:700\">platform for labor market information<\/span><span style=\"font-weight:400;\">;<\/span><\/li>\n<li><span>Ministries and private sector players to work towards <\/span><span style=\"font-weight:700\">gender equality in the workplace<\/span><span style=\"font-weight:400;\"> though the president stopped short of offering specific measures or targets;<\/span><\/li>\n<li><span>State to launch a <\/span><span style=\"\">national campaign to encourage<\/span><span style=\"font-weight:700\"> Egyptian youth<\/span><span style=\"\"> to establish their own <\/span><span style=\"font-weight:700\">SMEs<\/span><span style=\"\">.<\/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\/abdel-fattah-el-sisi\/\">Abdel Fattah El Sisi<\/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\/legislation-watch\/\">Legislation 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=\"585935\" 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=\"585935\">\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\">WAR WATCH<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2023\/05\/02\/sudan-ceasefire-fails-to-hold-as-fighting-enters-18th-day\/\">\r\n                            Sudan ceasefire fails to hold as fighting enters 18th day                        <\/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\/05\/02\/sudan-ceasefire-fails-to-hold-as-fighting-enters-18th-day\/\" 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\/05\/02\/sudan-ceasefire-fails-to-hold-as-fighting-enters-18th-day\/')\">\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\/05\/02\/sudan-ceasefire-fails-to-hold-as-fighting-enters-18th-day\/\">\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=Sudan ceasefire fails to hold as fighting enters 18th day&url=https:\/\/enterpriseam.com\/egypt\/2023\/05\/02\/sudan-ceasefire-fails-to-hold-as-fighting-enters-18th-day\/\">\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\/05\/02\/sudan-ceasefire-fails-to-hold-as-fighting-enters-18th-day\/&title=Sudan ceasefire fails to hold as fighting enters 18th day\">\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=Sudan+ceasefire+fails+to+hold+as+fighting+enters+18th+day+https%3A%2F%2Fenterpriseam.com%2Fegypt%2F2023%2F05%2F02%2Fsudan-ceasefire-fails-to-hold-as-fighting-enters-18th-day%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\/05\/02\/sudan-ceasefire-fails-to-hold-as-fighting-enters-18th-day\/\">\r\n                    <div class=\"photo photo--above\">\r\n                        <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2023\/5\/82.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"585936\" data-permalink=\"https:\/\/enterpriseam.com\/egypt\/2023\/05\/02\/sudan-ceasefire-fails-to-hold-as-fighting-enters-18th-day\/82-jpg-13\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2023\/5\/82.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"82.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2023\/5\/82.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2023\/5\/82.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-585935\" class=\"content-area-description single-story post-585935 post type-post status-publish format-standard has-post-thumbnail hentry category-war-watch tag-2023-sudan-conflict tag-enterpriseam tag-war-watch wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<figure class=\"wp-block-audio mb-0\"><audio controls preload=\"metadata\" src=\"https:\/\/s3.us-east-1.amazonaws.com\/ent.news\/audio\/2023\/5\/.31616621-d06f-4346-a92f-326a566dd748.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\">Another ceasefire fails:<\/span><span style=\"\"> Fighting between the Sudanese army and the Rapid <\/span><span>Support Forces (RSF) continued yesterday despite both sides agreeing to a <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/608122c7-53d4-4c03-b182-50a1d573424f\" style=\"\">three-day extension of a ceasefire<\/a><\/span><span style=\"\">. Army units continued to carry out air strikes in Khartoum against RSF positions, which responded with anti-aircraft guns, according to <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/sudantribune.com\/article273542\/\" style=\"\">local media<\/a><\/span><span style=\"font-weight:400;\">.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:700\">The RSF is blaming the army: <\/span><span style=\"\">The <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/twitter.com\/RSFSudan\/status\/1653096724221640705?s=20\" style=\"\">militia said<\/a><\/span><span style=\"\">that the Sudanese army has \u201claunched a <\/span><span style=\"font-weight:400;\">vicious attack on the RSF medical headquarters \u2026 continues to violate the agreed upon temporary humanitarian ceasefire.\u201d <\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:700\">Army claims it has significantly degraded RSF:<\/span><span style=\"\"> In its <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/www.facebook.com\/sudanese.armed.forces\/posts\/pfbid0uGNySYanHsCXrDRBMkkV4H6DQbnhPV6QQ2urKaFyWzgSmhrBK8Emmus9buahxUFLl\" style=\"\">latest status update<\/a><\/span><span style=\"\">yesterday, the <\/span><span style=\"font-weight:400;\">Sudanese armed forces said it had reduced the RSF\u2019s combat capabilities by 45-55%, and claimed that the situation is \u201cstable in all states of Sudan.\u201d <\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:700\">The conflict could displace over 800k people<\/span><span style=\"\">, the <\/span><span style=\"\">UN High Commissioner for Refugees Filippo Grandi said in a <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/twitter.com\/FilippoGrandi\/status\/1653057021761953797?s=20\" style=\"\">tweet<\/a><\/span><span style=\"\"> yesterday.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:700\">The Arab League speaks: <\/span><span style=\"\">Following its second emergency meeting in April, the Arab League <\/span><span style=\"font-weight:400;\">echoed regional calls for a peaceful end to the conflict that prioritizes the Sudanese people.<\/span><\/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 hope for a resolution? <\/span><span style=\"\">The two opposing sides have agreed to send over <\/span><span style=\"\">representatives to take part in negotiations, UN Special Representative for Sudan Volker Perthes told <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/apnews.com\/article\/sudan-generals-war-military-rsf-civilian-ceasefire-7386cd646fc23d7d8066da6eb5d19d97\" style=\"\">the Associated Press<\/a><\/span><span style=\"font-weight:400;\">. Should they go ahead, the negotiations will initially focus on two sides agreeing on a stable and reliable ceasefire, 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\">Updated figures are hard to come by:<\/span><span style=\"\"> The death toll has not been updated since 29 April <\/span><span style=\"\">when it stood at 528, <\/span><span>while<\/span><span> Egyptian officials <\/span><span style=\"font-weight:400;\">have not shared the latest count of Sudanese refugees who have crossed the border into Egypt. The Egyptian Foreign Ministry said at the weekend that more than 16k people had crossed the border, most of whom were Sudanese refugees.<\/span><\/p>\n\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/2023-sudan-conflict\/\">2023 Sudan conflict<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/war-watch\/\">war watch<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                    <\/div>\n    <\/div>\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"585937 advertiser\" class=\"issue-section enterprise-adv\">\n<div class=\"issue-section__content\">\n<div class=\"stories\">            <!-- Show divider before story section -->\r\n        <div \r\n            class=\"\r\n                            \"\r\n            id=\"585937\">\r\n            \r\n            <div class=\"story__body\">\r\n\r\n                <a href=\"https:\/\/enterpriseam.com\/egypt\/2023\/05\/02\/585937\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-585937\" class=\"content-area-description single-story post-585937 post type-post status-publish format-standard hentry category-advertiser wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<p><span style=\"font-weight:400;\"><a href=\"https:\/\/www.sodic.com\/\" target=\"_blank\" rel=\"noopener\"><img data-recalc-dims=\"1\" decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2023\/4\/356.jpg?ssl=1\"><\/a><\/span><\/p>\n\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"585938\" 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=\"585938\">\r\n            \r\n                <div class=\"issue-story-header text-center\">\r\n                    <div class=\"index-number\">7<\/div>\r\n\r\n                    <p class=\"f-graphik\">LAST NIGHT\u2019S TALK SHOWS<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2023\/05\/02\/happy-labor-day-plus-mostafa-dawishs-sudden-passing-and-the-latest-from-sudan\/\">\r\n                            Egyptian talk shows note Labor Day and new measures to support irregular workers                        <\/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\/05\/02\/happy-labor-day-plus-mostafa-dawishs-sudden-passing-and-the-latest-from-sudan\/\" 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\/05\/02\/happy-labor-day-plus-mostafa-dawishs-sudden-passing-and-the-latest-from-sudan\/')\">\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\/05\/02\/happy-labor-day-plus-mostafa-dawishs-sudden-passing-and-the-latest-from-sudan\/\">\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=Happy Labor Day. PLUS: Mostafa Dawish\u2019s sudden passing and the latest from Sudan&url=https:\/\/enterpriseam.com\/egypt\/2023\/05\/02\/happy-labor-day-plus-mostafa-dawishs-sudden-passing-and-the-latest-from-sudan\/\">\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\/05\/02\/happy-labor-day-plus-mostafa-dawishs-sudden-passing-and-the-latest-from-sudan\/&title=Happy Labor Day. PLUS: Mostafa Dawish\u2019s sudden passing and the latest from Sudan\">\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=Happy+Labor+Day.+PLUS%3A+Mostafa+Dawish%E2%80%99s+sudden+passing+and+the+latest+from+Sudan+https%3A%2F%2Fenterpriseam.com%2Fegypt%2F2023%2F05%2F02%2Fhappy-labor-day-plus-mostafa-dawishs-sudden-passing-and-the-latest-from-sudan%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\/05\/02\/happy-labor-day-plus-mostafa-dawishs-sudden-passing-and-the-latest-from-sudan\/\">\r\n                    <div class=\"photo photo--above\">\r\n                        <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2023\/5\/80.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"585939\" data-permalink=\"https:\/\/enterpriseam.com\/egypt\/2023\/05\/02\/happy-labor-day-plus-mostafa-dawishs-sudden-passing-and-the-latest-from-sudan\/80-jpg-16\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2023\/5\/80.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"80.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2023\/5\/80.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2023\/5\/80.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-585938\" class=\"content-area-description single-story post-585938 post type-post status-publish format-standard has-post-thumbnail hentry category-last-nights-talk-shows tag-abdel-fattah-el-sisi tag-economy tag-enterpriseam tag-last-nights-talk-shows wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<figure class=\"wp-block-audio mb-0\"><audio controls preload=\"metadata\" src=\"https:\/\/s3.us-east-1.amazonaws.com\/ent.news\/audio\/2023\/5\/.d487309b-224f-4769-9107-d411a870dc21.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\">Labor Day and the president\u2019s speech dominated the airwaves last night:<\/span><span style=\"\"> The nation\u2019s <\/span><span>talking heads celebrated Labor Day and President Abdel Fattah El Sisi\u2019s policy announcements to ease conditions for irregular workers. \u201cWe will take President El Sisi\u2019s decisions as our guide moving forward,\u201d Egyptian Trade Union Federation Mohamed Gobran told Al Hayah Al Youm (<\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/www.youtube.com\/watch?v=r70uQ1Cf4Ew\" style=\"\">watch, runtime: 6:49<\/a><\/span><span>). <\/span><span>Kelma Akhira (<\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/www.youtube.com\/watch?v=CnOkdVxmJAE\" style=\"\">watch, runtime: 3:21<\/a><\/span><span> | <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/www.youtube.com\/watch?v=owcX8B98TTQ\" style=\"\">2:47<\/a><\/span><span> | <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/www.youtube.com\/watch?v=6WGPF-2iyzM\" style=\"\">4:23<\/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=mPpf-qV8JA4\" style=\"\">watch, runtime: 8:20<\/a><\/span><span style=\"font-weight:400;\">) also covered the news. We have the details in this morning's Regulation Watch, 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\">The situation in Sudan continued to get coverage:<\/span><span>Emigration Minister Soha Gendy (<\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/www.youtube.com\/watch?v=gPLQE38E3oI\" style=\"\">watch, runtime: 3:54<\/a><\/span><span style=\"font-weight:400;\">) both took to the airwaves to reassure citizens of the state\u2019s preparedness to host the Sudanese citizens who had fled to Egypt amid the ongoing violence in their hometown. <\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:700\">Why did the Supply Ministry make commodities pricier? <\/span><span style=\"\">A lot of the components for these <\/span><span>commodities are imported and therefore saw a major price hike over the past period, Assistant Supply Minister Ibrahim Ashmawy told El Hadidi (<\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/www.youtube.com\/watch?v=LbTXFG0y-UY\" style=\"\">watch, runtime: 10:45<\/a><\/span><span style=\"font-weight:400;\">). \u201cIf we increase the amount of social support we will widen the budget deficit,\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\">Remember: <\/span><span>As of yesterday, <\/span><span>31<\/span><span> subsidized commodities <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/49f88f6c-09a1-4f2c-99f0-db2e4bf962a4\" style=\"\">got more expensive<\/a><\/span><span style=\"font-weight:400;\"> as part of the ministry\u2019s move to cut back on costs.<\/span><span style=\"background-color: transparent; font-weight: 700;\">&nbsp;<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"background-color: transparent;\"><b>SOS Children's Village closure:&nbsp;<\/b>Social Solidarity Minister Nevine El Qabbaj<\/span><span style=\"background-color: transparent;\">&nbsp;spoke with El Hekaya&nbsp;<\/span><span style=\"background-color: transparent;\">(<\/span><span style=\"background-color: transparent; text-decoration-skip-ink: none;\"><a href=\"https:\/\/www.facebook.com\/watch\/?extid=NS-UNK-UNK-UNK-IOS_GK0T-GK1C&amp;mibextid=2Rb1fB&amp;v=629903532320394\">watch, runtime: 7:35<\/a><\/span><span style=\"background-color: transparent;\">) to confirm that the Nasr City orphanage will be closed after controversy broke out over the news on social media. The minister said that residents would be relocated, with both adults and children found appropriate alternative housing.&nbsp;<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:700\">AND- The nation\u2019s talking heads mourn the death of actor Mostafa Darwish<\/span><span style=\"\">, who passed <\/span><span>away yesterday morning at the age of 43. Darwish is best known for his role in the comedy series \u201c<\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/www.imdb.com\/title\/tt12228692\/\" style=\"\">B 100 Wish<\/a><\/span><span>,\u201d which aired during Ramadan 2020. <\/span><span>Kelma Akhira (<\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/www.youtube.com\/watch?v=NrbMOhNoBDk\" style=\"\">watch, runtime: 1:22<\/a><\/span><span>), Al Hayah Al Youm (<\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/www.youtube.com\/watch?v=YSN26hmxT7s\" style=\"\">watch, runtime: 4:03<\/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=ZTi-C9I_CFs\" style=\"\">watch, runtime: 3:53<\/a><\/span><span>) all paid tribute to the late actor. <\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><font color=\"#b5b5c3\" face=\"Arial\"><span style=\"font-size: 16.25px;\"><i>CORRECTION: This story was corrected on 2 May, 2023 to reflect that Social Solidarity Minister Nevine El Qabbaj spoke on the SOS Children's Village, not the situation in Sudan.&nbsp;<\/i><\/span><\/font><\/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\/abdel-fattah-el-sisi\/\">Abdel Fattah El Sisi<\/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 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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=\"585941\">\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\">EGYPT IN THE NEWS<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2023\/05\/02\/egypt-releases-second-al-jazeera-journalist-as-qatar-ties-warm\/\">\r\n                            Egypt releases second Al Jazeera journalist as Qatar ties warm                        <\/a>\r\n                    <\/h3>\r\n\r\n                    \r\n\t\t\t\t\t\n<div class=\"cta\">\n    <div class=\"cta__btn share-dropdown-cta dropdown-toggle-btn\" style=\"position:relative\">\n        <img decoding=\"async\" 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    \r\n                <\/div>\r\n\r\n            \r\n            <div class=\"story__body\">\r\n\r\n                <a href=\"https:\/\/enterpriseam.com\/egypt\/2023\/05\/02\/egypt-releases-second-al-jazeera-journalist-as-qatar-ties-warm\/\">\r\n                    <div class=\"photo photo--above\">\r\n                        <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2023\/5\/78.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"585942\" data-permalink=\"https:\/\/enterpriseam.com\/egypt\/2023\/05\/02\/egypt-releases-second-al-jazeera-journalist-as-qatar-ties-warm\/78-jpg-26\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2023\/5\/78.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"78.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2023\/5\/78.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2023\/5\/78.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-585941\" class=\"content-area-description single-story post-585941 post type-post status-publish format-standard has-post-thumbnail hentry category-egypt-in-the-news tag-al-jazeera tag-diplomacy tag-enterpriseam tag-human-rights wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<figure class=\"wp-block-audio mb-0\"><audio controls preload=\"metadata\" src=\"https:\/\/s3.us-east-1.amazonaws.com\/ent.news\/audio\/2023\/5\/.9eccd975-6fd5-4993-9aa9-65180e797646.mp3\"><\/audio><\/figure>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:700\">Leading the conversation on Egypt this morning: Al Jazeera journo freed<\/span><span style=\"font-weight:700\">. <\/span><span style=\"\">Egyptian authorities yesterday released Al Jazeera journalist Hisham Abdel Aziz <\/span><span>after serving four years in pre-trial detention, according to a <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/twitter.com\/samira_eltaher\/status\/1652816351533096960?s=20\" style=\"\">tweet<\/a><\/span><span> posted by his wife yesterday. The head of the Egyptian Journalists\u2019 Syndicate, Khaled El Balshy, confirmed to Reuters that the journalist had returned home. Abdel Aziz is <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/79ce7f1b-589c-431f-9ed7-47f9a283f787\" style=\"\">the second<\/a><\/span><span> Al Jazeera journalist to be released in recent months as Egypt and Qatar look to move beyond nearly a decade of tensions. (<\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/www.reuters.com\/world\/al-jazeera-journalist-freed-pretrial-detention-egypt-2023-05-01\/\" style=\"\">Reuters<\/a><\/span><span> | <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/apnews.com\/article\/egypt-qatar-al-jazeera-reporter-freed-b77685842b19bd4536b4aa5fdc625eba\" style=\"\">Associated Press<\/a><\/span><span> | <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/www.bbc.com\/news\/world-middle-east-65413817\" style=\"\">BBC<\/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\/al-jazeera\/\">Al Jazeera<\/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\/human-rights\/\">human rights<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                    <\/div>\n    <\/div>\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"585943\" 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=\"585943\">\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\">Also on our Radar<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2023\/05\/02\/regulators-just-greenlit-egypts-first-ever-gold-investment-fund-plus-data-center-upgrade-new-sawari-tech-fund-oil-gas-exploration\/\">\r\n                            Regulators just greenlit Egypt\u2019s first ever gold investment fund. PLUS: Data center upgrade, new Sawari tech fund, oil + gas exploration.                        <\/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\/05\/02\/regulators-just-greenlit-egypts-first-ever-gold-investment-fund-plus-data-center-upgrade-new-sawari-tech-fund-oil-gas-exploration\/\" 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\/05\/02\/regulators-just-greenlit-egypts-first-ever-gold-investment-fund-plus-data-center-upgrade-new-sawari-tech-fund-oil-gas-exploration\/')\">\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\/05\/02\/regulators-just-greenlit-egypts-first-ever-gold-investment-fund-plus-data-center-upgrade-new-sawari-tech-fund-oil-gas-exploration\/\">\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=Regulators just greenlit Egypt\u2019s first ever gold investment fund. PLUS: Data center upgrade, new Sawari tech fund, oil + gas exploration.&url=https:\/\/enterpriseam.com\/egypt\/2023\/05\/02\/regulators-just-greenlit-egypts-first-ever-gold-investment-fund-plus-data-center-upgrade-new-sawari-tech-fund-oil-gas-exploration\/\">\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\/05\/02\/regulators-just-greenlit-egypts-first-ever-gold-investment-fund-plus-data-center-upgrade-new-sawari-tech-fund-oil-gas-exploration\/&title=Regulators just greenlit Egypt\u2019s first ever gold investment fund. 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The fund will be managed by <\/span><span>Azimut<\/span><span>, while Catalyst Management Services will set daily pricing. Evolve <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/enterprise.press\/stories\/2022\/01\/24\/evolve-investment-to-launch-gold-backed-investment-fund-63445\/\" style=\"\">previously<\/a><\/span><span style=\"font-weight:400;\"> announced plans to launch the exchange-traded gold-backed fund. <\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:700\">Soaring inflation and a <\/span><span style=\"font-weight:700\">protracted currency crisis have seen Egyptians pouring savings into gold.<\/span><span> The price of 21-carat gold has<\/span><span> more than tripled si<\/span><span>nce the beginning of 2022 and has soared <\/span><span>60%<\/span><span> in 2023 alone, and was trading at <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/www.almasryalyoum.com\/news\/details\/2875842\" style=\"\">EGP 2,650<\/a><\/span><span style=\"font-weight:400;\"> yesterday.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:700\">#2- EFG Hermes has launched a new <\/span><span style=\"-webkit-text-decoration-skip:none;font-weight:700;text-decoration-skip-ink:none\"><a href=\"https:\/\/www.investopedia.com\/terms\/d\/directmarketaccess.asp\" style=\"\">Direct Market Access platform<\/a><\/span><span style=\"\"> on Microsoft\u2019s cloud <\/span><span>computing service, Azure, it said in a <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/ent.news\/2023\/5\/66.pdf\" style=\"\">press release (pdf)<\/a><\/span><span style=\"font-weight:400;\"> yesterday. The platform is 160 times faster than EFG Hermes\u2019 former DMA system, allowing it to offer clients much faster trading and better access to financial markets.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:700;\">TELECOMS-<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:700\">US internet service provider GPX will invest EGP 2.7 bn to expand its <\/span><span style=\"-webkit-text-decoration-skip:none;font-weight:700;text-decoration-skip-ink:none\"><a href=\"https:\/\/gpxglobal.net\/internet-data-centers\/cairo-2\/\" style=\"\">Cairo 2 Data<\/a><\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;font-weight:700;\"><a href=\"https:\/\/gpxglobal.net\/internet-data-centers\/cairo-2\/\" style=\"\">Center<\/a><\/span><span>, the company said in <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/gpxglobal.net\/gpx-global-systems-inc-announces-a-major-expansion-of-its-cairo-data-center\/\" style=\"\">a statement<\/a><\/span><span style=\"font-weight:400;\"> yesterday. The company will add an additional 12 MW of power to the facility, it said. Redcon Construction, which built the facility 2013, will work with GPX on the upgrade.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:700;\">STARTUPS-<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:700\">Sawari Ventures eyes USD 200 mn tech fund: <\/span><span style=\"\">Sawari Ventures is in talks with <\/span><span>investors to launch a USD 200 mn fund to invest in tech startups across Egypt and Africa, <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/www.almasdar.com\/127679\" style=\"\">Al Masdar<\/a><\/span><span style=\"font-weight:400;\"> reports, citing an interview with Managing Partner Hani Al Sonbaty.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:700\">That\u2019s a wrap on fund no. 1: <\/span><span>Sawari has deployed the entire USD 70 mn it raised for its first fund, having invested in 20 Egyptian companies over the past four years, he said. Most recently the firm has invested in <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/af5b4472-1548-496a-be16-8d6242a3c19f\" style=\"\">fintech startup Blnk<\/a><\/span><span>, <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/6246ee8d-de33-4a07-8bfe-e642d08e21bf\" style=\"\">edtech platform Almentor<\/a><\/span><span>, and <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/ca76fe29-291d-414d-8005-d457e18533be\" style=\"\">MoneyFellows<\/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;\">COMMODITIES-<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:700\">State grains buyer GASC has launched an international wheat tender<\/span><span style=\"\">, <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/www.nasdaq.com\/articles\/egypt-gasc-sets-international-tender-for-wheat\" style=\"\">Reuters<\/a><\/span><span style=\"\"> reported. <\/span><span style=\"font-weight:400;\">The tender is seeking offers on a free on board basis for shipment 10-30 June and\/or 1-20 July. Traders have until the end of today to submit their bids.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:700;\">LEGISLATION-<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:700\">#1- New bill would hand tax breaks to firms working on nuclear <\/span><span style=\"font-weight:700\">projects<\/span><span style=\"font-weight:700\">:<\/span><span style=\"\"> M<\/span><span style=\"\">Ps <\/span><span style=\"\">yesterday <\/span><span>gave prel<\/span><span style=\"font-weight:400;\">iminary approval to legislation that hands tax exemptions to local and international companies working on the Dabaa nuclear plant. <\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:700\">What\u2019s next:<\/span><span style=\"font-weight:400;\"> The amendments will be put up for a final vote in an upcoming session, likely next Tuesday.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:700\">#2- House committee greenlights fresh Eni oil + gas exploration: <\/span><span style=\"\">The House Energy <\/span><span>and Environment Committee has approved a draft bill that would allow the Oil Ministry to contract Eni subsidiary IEOC to launch oil and gas exploration operations at three East Mediterranean concessions, <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/bit.ly\/41QBPI0\" style=\"\">Al Mal<\/a><\/span><span style=\"font-weight:400;\"> reported. <\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:700;\">SHIPPING-<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:700\">Transport Ministry-affiliated <\/span><span style=\"-webkit-text-decoration-skip:none;font-weight:700;text-decoration-skip-ink:none\"><a href=\"http:\/\/www.kcfmt.com\/\" style=\"\">AlKahera Company for Ferries and Maritime Transport<\/a><\/span><span style=\"font-weight:700\">and Korean shipbuilder <\/span><span style=\"-webkit-text-decoration-skip:none;font-weight:700;text-decoration-skip-ink:none\"><a href=\"http:\/\/www.daesunship.co.kr\/english\/\" style=\"\">Dae Sun<\/a><\/span><span style=\"font-weight:700\"> will build two multi-purpose container ships<\/span><span style=\"\"> under an agreement signed yesterday, according to a ministry <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/www.facebook.com\/MinistryTransportation\/posts\/pfbid0zhZQnD7Fj8neLCM4uFaC6mQDFJVDSobnmXmtUXCqu3vC5PsAMA9Y6FhTUXfQXptUl\" style=\"\">statement<\/a><\/span><span style=\"\">. The agreement comes as part of Egypt\u2019s plans to build a strong commercial fleet to boost its trade to regional markets and leverage its strategic location on the Red and Mediterranean seas, the statement said, without disclosing the value of the agreement. <\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:700;\">LAW- <\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"\">Egyptian law firm <\/span><span style=\"-webkit-text-decoration-skip:none;font-weight:700;text-decoration-skip-ink:none\"><a href=\"http:\/\/www.elsaiddarwish.com\/\" style=\"\">El Said Darwish & Partners<\/a><\/span><span style=\"\"> announced its \u201c<\/span><span style=\"font-weight:700\">strategic association<\/span><span style=\"\">\u201d <\/span><span>with Emirati law firm <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;font-weight:700;\"><a href=\"https:\/\/inp.legal\/\" style=\"\">Ibrahim & Partners<\/a><\/span><span>, according to <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/www.zawya.com\/en\/press-release\/companies-news\/el-said-darwish-and-partners-and-ibrahimn-partners-announce-strategic-association-mwwe9i4b\" style=\"\">a statement<\/a><\/span><span style=\"font-weight:400;\">. <\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:700;\">DIPLOMACY-<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:700\">Operation Assad Rehabilitation is slowly making progress:<\/span><span style=\"\"> Arab foreign ministers <\/span><span style=\"font-weight:400;\">continued discussing how to bring Syria back into the Arab League and end the country\u2019s 12-year civil war during talks in Amman yesterday. <\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:700\">At the talks:<\/span><span> Foreign Minister Sameh Shoukry joined the foreign ministers of Jordan, Syria, Saudi Arabia, and Iraq for the meeting in the Jordanian capital.<\/span><\/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 headline:<\/span><span> Diplomats discussed returning the mns of Syrian refugees living in neighboring countries, while Syria\u2019s foreign minister agreed to step up efforts to crack down on narcotics trafficking across the country\u2019s borders, according to <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/twitter.com\/ForeignMinistry\/status\/1653035876228780034?s=20\" style=\"\">a joint statement<\/a><\/span><span style=\"font-weight:400;\">.<\/span><\/p>\n\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/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\/azimut-egypt-asset-management\/\">Azimut Egypt Asset Management<\/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\/cit\/\">CIT<\/a>\n                <!-- <span 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href=\"https:\/\/enterpriseam.com\/egypt\/tag\/redcon-construction\/\">Redcon Construction<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/sameh-shoukry\/\">Sameh Shoukry<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/sawari-ventures\/\">Sawari Ventures<\/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=\"585945\" 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=\"585945\">\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\/05\/02\/saudi-net-foreign-assets-slump-to-13-year-low\/\">\r\n                            Saudi net foreign assets slump to 13-year low                        <\/a>\r\n                    <\/h3>\r\n\r\n                    \r\n\t\t\t\t\t\n<div class=\"cta\">\n    <div class=\"cta__btn share-dropdown-cta dropdown-toggle-btn\" style=\"position:relative\">\n        <img decoding=\"async\" src=\"https:\/\/ent.news\/internal\/408834.svg\" alt=\"\">\n        Share Story\n        <!-- Dropdown Menu -->\n        <ul class=\"share-menu\">\n            <li class=\"list-inline-item\">\n                <a 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src=\"https:\/\/i0.wp.com\/ent.news\/2023\/5\/71.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"585946\" data-permalink=\"https:\/\/enterpriseam.com\/egypt\/2023\/05\/02\/saudi-net-foreign-assets-slump-to-13-year-low\/71-jpg-27\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2023\/5\/71.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"71.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2023\/5\/71.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2023\/5\/71.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-585945\" class=\"content-area-description single-story post-585945 post type-post status-publish format-standard has-post-thumbnail hentry category-planet-finance tag-adnoc-gas tag-aramco tag-energy tag-enterpriseam tag-financial-markets tag-oil-and-gas tag-planet-finance tag-saudi-arabia tag-totalenergies 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\/5\/.0cd74cff-be89-4d74-b1f3-cee961b58459.mp3\"><\/audio><\/figure><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:700\">Saudi NFAs fall to 13-year low despite Aramco dividend boost:<\/span><span style=\"\"> Saudi Arabia\u2019s net foreign assets <\/span><span>dropped to USD 419 bn in March fro<\/span><span>m USD 433 bn t<\/span><span>he month before, according to <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/www.sama.gov.sa\/en-us\/economicreports\/pages\/monthlystatistics.aspx\" style=\"\">central bank figures<\/a><\/span><span> out yesterday. This is the lowest figure since July 2010, according to <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/www.bloomberg.com.\/news\/articles\/2023-04-30\/saudi-march-net-foreign-reserves-fall-despite-aramco-dividend?srnd=premium-middle-east&amp;leadSource=uverify%20wall\" style=\"\">Bloomberg<\/a><\/span><span>. The lower figure comes despite Saudi Aramco in March <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/www.aramco.com\/-\/media\/publications\/corporate-reports\/saudi-aramco-fy-2022-results-press-release-english.pdf\" style=\"\">increasing dividend payouts<\/a><\/span><span>, a key revenue source for the government.<\/span><\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:700\">Adnoc Gas signs 3-year LNG supply agreement with TotalEnergies:<\/span><span style=\"\"> Adnoc Gas <\/span><span>announced a three-year agreement with TotalEnergies for the supply of liquified natural gas (LNG), according to <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/ent.news\/2023\/5\/29.pdf\" style=\"\">a press release (pdf)<\/a><\/span><span style=\"font-weight:400;\">. The estimated value of the agreement falls between USD 1 bn and USD 1.2 bn based on current market conditions, and it will run through to 2025. <\/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=\"\">Adnoc Distribution <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/75784c1b-8241-45cc-affa-165e236ca996\" style=\"\">acquired a 50% stake<\/a><\/span><span style=\"\"> in the French company\u2019s Egypt subsidiary <\/span><span style=\"font-weight:400;\">earlier this year.<\/span><\/p><p><a id=\"t.97fac9878bb2752139cc1e7013346382f767d5dd\"><\/a><a id=\"t.0\"><\/a><\/p><div class=\"stock-ticker-panel\">\n<table class=\"table stock-ticker-table table-striped markets-table\">\n<tbody>\n<tr class=\"tr-row-down\">\n<td class=\"td-list-down\">\n<p><svg class=\"e-icon e-TypeMarkets1\"><use xlink:href=\"#e-TypeMarkets1\"><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><span style=\"font-weight:700\">EGX30 <\/span><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><span style=\"font-weight:400;\">17,311<\/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: +18.6%)<\/span><\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-none\">\n<td class=\"td-list-none\">\n<p><svg class=\"e-icon e-TypeMarkets\"><use xlink:href=\"#e-TypeMarkets\"><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><span style=\"font-weight:700\">USD (CBE)<\/span><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><span style=\"font-weight:400;\">Buy 30.84<\/span><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><span style=\"font-weight:400;\">Sell 30.96<\/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;\">11,286<\/span><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><span style=\"font-weight:400;\">-0.2% (YTD: +7.7%)<\/span><\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-down\">\n<td class=\"td-list-down\">\n<p><svg class=\"e-icon e-TypeMarkets1\"><use xlink:href=\"#e-TypeMarkets1\"><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><span style=\"font-weight:700\">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;\">9,704<\/span><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><span style=\"font-weight:400;\">-0.9% (YTD: -5.0%)<\/span><\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-down\">\n<td class=\"td-list-down\">\n<p><svg class=\"e-icon e-TypeMarkets1\"><use xlink:href=\"#e-TypeMarkets1\"><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><span style=\"font-weight:700\">DFM<\/span><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><span style=\"font-weight:400;\">3,538<\/span><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><span style=\"font-weight:400;\">-0.2% (YTD: +6.1%)<\/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\">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;\">4,168<\/span><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><span style=\"font-weight:400;\">0.0% (YTD: +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-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;\">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;\">0.0% (YTD: +14.9%)<\/span><\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-down\">\n<td class=\"td-list-down\">\n<p><svg class=\"e-icon e-TypeMarkets1\"><use xlink:href=\"#e-TypeMarkets1\"><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><span style=\"font-weight:700\">Brent crude<\/span><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><span style=\"font-weight:400;\">USD 79.37<\/span><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><span style=\"font-weight:400;\">-1.2%<\/span><\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-down\">\n<td class=\"td-list-down\">\n<p><svg class=\"e-icon e-TypeMarkets1\"><use xlink:href=\"#e-TypeMarkets1\"><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><span style=\"font-weight:700\">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 2.32<\/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;\">-3.9%<\/span><\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-down\">\n<td class=\"td-list-down\">\n<p><svg class=\"e-icon e-TypeMarkets1\"><use xlink:href=\"#e-TypeMarkets1\"><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><span style=\"font-weight:700;\">Gold<\/span><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><span style=\"font-weight:400;\">USD 1,990.30<\/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%<\/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 27,894<\/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;\">-5.7% (YTD: +68.5%)<\/span><\/p>\n<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<\/div><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:700;\">THE CLOSING BELL-<\/span><\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:700\">The EGX30 fell 2.0% at yesterday\u2019s cl<\/span><span style=\"font-weight:700\">ose<\/span><span style=\"\"> on turnover of E<\/span><span style=\"\">GP 2.09 bn (about 15% above thet railing 90-day average). Foreign investors were <\/span><span style=\"font-weight:400;\">net sellers. The index is up 18.6% 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;\">Eastern Company (+1.5%), Ezz Steel (+0.7%) and Abu Dhabi Islamic Bank - Egypt (+0.4%).<\/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>AMOC (-10.7%), Abu Kir Fertilizers (-4.7%) and Qalaa Holdings (-4.5%).<\/span><\/p>\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/adnoc-gas\/\">Adnoc Gas<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" 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       <\/figure>\r\n                <p>\r\n                    Our weekly deep dive into the green economy and ESG issue in Egypt.                <\/p>\r\n                <figure class=\"wp-block-image size-full mt-0 mb-0 img-white-bg\"><img data-recalc-dims=\"1\" decoding=\"async\" src=\"https:\/\/i0.wp.com\/s3.amazonaws.com\/resources.inktankir.com\/internal\/27483.png?ssl=1\" alt=\"\"><\/figure>\r\n                <p class=\"has-text-color has-link-color\">\r\n                    Published every Tuesday in EnterpriseAM.                <\/p>\r\n                <div class=\"wp-block-buttons mt-0\">\r\n                    <div class=\"wp-block-button\">\r\n                        <a class=\"wp-block-button__link has-background wp-element-button\" href=\"https:\/\/enterpriseam.com\/egypt\/goinggreen\/\">\r\n                            Read going Green                        <\/a>\r\n                    <\/div>\r\n                <\/div>\r\n            <\/div>\r\n            <div class=\"wp-block-column issue-section\">\r\n                <div class=\"story-section\">\r\n                    <div class=\"issue-story-header text-center\">\r\n                        <div class=\"index-number\">11<\/div>\r\n\r\n                        <p class=\"f-graphik\">Going Green<\/p>\r\n                        <h3 class=\"story-title\"><a href=\"https:\/\/enterpriseam.com\/egypt\/goinggreens\/ecotourism-in-practice-how-can-visitors-and-businesses-help-preserve-protected-areas\/\">\r\n                            Egyptian ecotourism in practice: How can visitors and businesses help preserve protected areas?<\/a>\r\n                        <\/h3>\r\n\r\n\t\t\t\t\t\n<div class=\"cta\">\n    <div class=\"cta__btn share-dropdown-cta dropdown-toggle-btn\" style=\"position:relative\">\n        <img decoding=\"async\" src=\"https:\/\/ent.news\/internal\/408834.svg\" alt=\"\">\n        Share Story\n        <!-- Dropdown Menu -->\n        <ul class=\"share-menu\">\n            <li 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-->\n                <\/a>\n            <\/li>\n        <\/ul>\n    <\/div>\n        <\/div>                    <\/div>\r\n\r\n                    <div class=\"story__body\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/goinggreens\/ecotourism-in-practice-how-can-visitors-and-businesses-help-preserve-protected-areas\/\">\r\n                            <div class=\"photo photo--above\">\r\n                                <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2023\/5\/73.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" sizes=\"(max-width: 34.9rem) calc(100vw - 2rem), (max-width: 53rem) calc(8 * (100vw \/ 12)), (min-width: 53rem) calc(6 * (100vw \/ 12)), 100vw\" data-attachment-id=\"585948\" data-permalink=\"https:\/\/enterpriseam.com\/egypt\/goinggreens\/ecotourism-in-practice-how-can-visitors-and-businesses-help-preserve-protected-areas\/73-jpg-14\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2023\/5\/73.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"73.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2023\/5\/73.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2023\/5\/73.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                            <\/div>\r\n                        <\/a>\r\n                        \n<article id=\"post-585947\" class=\"content-area-description post-585947 goinggreen type-goinggreen status-publish has-post-thumbnail hentry category-going-green tag-enterprise-going-green tag-enterpriseam tag-going-green tag-hurghada tag-red-sea tag-tourism wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"\"> <\/span><span style=\"font-weight:700\">Where is ecotourism working \u2014 and where could things be improved? <\/span><span style=\"\">In <\/span><span>part one of our deep dive into Egypt\u2019s ecotourism industry<\/span><span> last week<\/span><span>, we took a look at <\/span><span style=\"\">the<\/span><span style=\"\"><a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/4d6a41fa-73a8-49db-9aa9-a8f830b61bc4\" style=\"\"><\/a><\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/4d6a41fa-73a8-49db-9aa9-a8f830b61bc4\" style=\"\">regulatory challenges<\/a><\/span><span style=\"\"> facing the industry. <\/span><span style=\"\">This week, we look at the current practices of travelers and industry leaders, and how to p<\/span><span style=\"font-weight:400;\">rotect delicate ecosystems and unique cultural heritage sites from overcrowding, environmental damage, and harmful behavior.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"background-color: transparent; font-weight: 700;\">Our national parks hold a wealth of biodiversity and cultural heritage: <\/span><span style=\"background-color: transparent;\">Our 30 <\/span><span style=\"background-color: transparent; text-decoration-skip-ink: none;\"><a href=\"https:\/\/ecoegypt.org\/protected-areas\/\">protected<\/a><\/span><span style=\"background-color: transparent; text-decoration-skip-ink: none;\"><a href=\"https:\/\/ecoegypt.org\/protected-areas\/\">areas<\/a><\/span><span style=\"background-color: transparent;\"> (PAs) cover some 15% of the country\u2019s total land mass and 9% of coastal and near-shore areas, including \u201cpockets of incredibly diverse and fragile ecosystems,\u201d according to a 2012 Egyptian Environmental Affairs Agency (EEAA) <\/span><span style=\"background-color: transparent; text-decoration-skip-ink: none;\"><a href=\"https:\/\/ent.news\/2023\/5\/11.pdf\">report (pdf)<\/a><\/span><span style=\"background-color: transparent;\">. PAs are home to nearly 150 species of threatened or endangered animals as well as two UNESCO World Heritage Sites (Saint Catherine and Wadi El Rayan.)<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"background-color: transparent; font-weight: 700;\">That\u2019s a huge draw for tourism: <\/span><span style=\"background-color: transparent;\">The EEAA says that while the value PAs bring to the<\/span><span style=\"background-color: transparent;\"> economy has not been systematically calculated, it is \u201cimmense\u201d \u2014 noting that the coral reefs at Ras Mohamed alone were worth some USD 141-190 mn in annual tourist revenue in 2012. Each USD invested in Wadi el Gemal national park would return USD 50 to the economy, it added.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"background-color: transparent; font-weight: 700;\">But with development comes risks to delicate ecosystems: <\/span><span style=\"background-color: transparent;\">The economic potential of PAs <\/span><span style=\"background-color: transparent;\">as \u201cpremium tourism destinations\u201d is balanced by the threat that development brings to key ecotourism spots. \u201cThere is tremendous human development pressure on those areas that are most important for biodiversity,\u201d the EEAA writes, \u201cresulting in high degrees of habitat destruction, conversion, and degradation.\u201d Other threats include hunting, pollution, invasive alien species, and climate change.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"background-color: transparent; font-weight: 700;\">Case in point: St Catherine<\/span><span style=\"background-color: transparent;\">,<\/span><span style=\"background-color: transparent;\">which is undergoing a major redevelopment project that has seen<\/span><span style=\"background-color: transparent;\"> a new asphalt road paved through the protectorate\u2019s namesake town. The area is home to <\/span><span style=\"background-color: transparent;\">some 7k Bedouin people, many of whom live in scattered remote settlements that are largely inaccessible to service providers.<\/span><span style=\"background-color: transparent;\"> \u201cThe asphalt road in Saint Catherine is environmentally disastrous, but the residents like it because it makes things easier for them,\u201d says Aamen Abuellil, founder and CEO of adventure travel operator&nbsp;<\/span><a href=\"https:\/\/www.facebook.com\/GhamerEvents\/\" target=\"_blank\" rel=\"noopener\">Ghamer<\/a>.<span style=\"background-color: transparent;\">&nbsp;\u201cWhen they need to reach the hospital it takes half an hour and not one full hour.\u201d<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"background-color: transparent; font-weight: 700;\">Better roads bring more tourists \u2014 with mixed results. <\/span><span style=\"background-color: transparent;\">Locals in Fayoum\u2019s <\/span><span style=\"background-color: transparent;\">Tunis village were excited by the possibility of more visitors being able to reach the ecotourism hotspot by bus after the opening of a new asphalt road. But some craftspeople soon became disappointed by the behavior of the new arrivals. Those who arrive by bus \u201coften cruise my shop, take lots of selfies, break my goods, and walk away without buying anything,\u201d says pottery maker Sabah Ahmed. \u201cThis Eid, I didn\u2019t even open my shop because I was afraid of tourists breaking my pottery,\u201d Ahmed adds.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"background-color: transparent; font-weight: 700;\">Ecotourism requires sensitivity from visitors:<\/span><span style=\"background-color: transparent;\"> Some ecotourist hotspots <\/span><span style=\"background-color: transparent;\">have spiked in popularity thanks to the sharing of <\/span><span style=\"background-color: transparent; text-decoration-skip-ink: none;\"><a href=\"https:\/\/www.euronews.com\/travel\/2021\/07\/29\/these-7-social-media-influencers-are-teaching-their-followers-how-to-make-travel-more-sust\">sustainable tourism content<\/a><\/span><span style=\"background-color: transparent;\"> on social media \u2014 but visitors need to think about more than just framing the perfect shot, Ghamer\u2019s Abuellil says. <\/span><span style=\"background-color: transparent;\">\u201cSome people like to go and take pictures, but they act like outsiders and they don\u2019t preserve the environment,\u201d he says. \u201cPeople need to educate themselves on the history, nature, and background of the place. [They need] layers of deep understanding.\u201d<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"background-color: transparent; font-weight: 700;\">And the growing ecotourism industry also brings cultural shifts: \u201c<\/span><span style=\"background-color: transparent;\">When a place gets <\/span><span style=\"background-color: transparent;\">popular, it attracts workers from outside the community, who take the jobs of locals, and that makes the experience incomplete,\u201d Abuellil says. \u201cYou go to a local place to enjoy the local culture, food, history, nature and way of life.\u201d<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"background-color: transparent; font-weight: 700;\">Ecotourism spots are working to embody sustainable values: <\/span><span style=\"background-color: transparent;\">\u201cIn our village, we used <\/span><span style=\"background-color: transparent;\">refurbished antique doors throughout the whole building as well as natural fabrics for the furnishings and lighting fixtures made of recycled iron\u201d says Mervat Abdel Nasser, founder of <\/span><span style=\"background-color: transparent; text-decoration-skip-ink: none;\"><a href=\"https:\/\/www.newhermopolis.org\/\">New Hermopolis Eco Village<\/a><\/span><span style=\"background-color: transparent;\"> in Minya. \u201cEven the mattresses are made of cotton in the old Egyptian style, which also prevents this skill and trade from dying,\u201d Abdel Nasser adds.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"background-color: transparent; font-weight: 700;\">And some are also preserving cultural heritage in the areas where they operate:<\/span><span style=\"background-color: transparent;\">\u201cCulture and <\/span><span style=\"background-color: transparent;\">heritage education are important to any ecological community,\u201d Abdel Nasser says. \u201cOur art and culture program encourages and fosters local talent and allows this creativity to be showcased in several cultural events throughout the year, particularly in our <\/span><span style=\"background-color: transparent; text-decoration-skip-ink: none;\"><a href=\"https:\/\/www.newhermopolis.org\/culturalprogram\">Thoth\u2019s Festival<\/a><\/span><span style=\"background-color: transparent;\"> that began in 2011\u201d and revives an ancient Egyptian celebration, adds Abdel Nasser.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"background-color: transparent; font-weight: 700;\">Not all change is bad:<\/span><span style=\"background-color: transparent;\"> \u201cIf you go to Saint Catherine now, you will find the Bedouins wearing <\/span><span style=\"background-color: transparent;\">hiking shoes and carrying light backpacks. They picked this up from travelers,\u201d says <\/span><span style=\"background-color: transparent;\">Abuellil<\/span><span style=\"background-color: transparent;\">. \u201cThis is an example of how travelers could have a positive impact on locals.\u201d<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"background-color: transparent; font-weight: 700;\">But these areas require careful management: <\/span><span style=\"background-color: transparent;\">Eco-lodges were in March <\/span><span style=\"background-color: transparent; text-decoration-skip-ink: none;\"><a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/4d6a41fa-73a8-49db-9aa9-a8f830b61bc4\">formalized<\/a><\/span><span style=\"background-color: transparent;\"> for the<\/span><span style=\"background-color: transparent;\"> first time by the Tourism Ministry, allowing them to exist as official legal entities \u2014 and potentially opening the door to support that some say is much needed. \u201cThe protectorate needs to provide local camps with legal protection \u2014 there is <\/span><span style=\"background-color: transparent;\">no ecotourism without local people,\u201d one Ras Mohamed camp owner who asked to remain anonymous told Enterprise. \u201cI am afraid that tomorrow an investor could come and throw money to turn this into a hotel or something and bring people from outside Sinai. Then you lose the true Bedouin experience and essence of the place.\u201d<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"background-color: transparent; font-weight: 700;\">One success story: The Samadai project south of Marsa Alam. <\/span><span style=\"background-color: transparent;\">Also known as the Dolphin <\/span><span style=\"background-color: transparent;\">House, the Samadai site protects marine life at a reef frequented by dolphins off the Red Sea coast. Run by the Hurghada Environmental Protection and Conservation Association (<\/span><span style=\"background-color: transparent; text-decoration-skip-ink: none;\"><a href=\"https:\/\/www.hepca.org\/\">HEPCA<\/a><\/span><span style=\"background-color: transparent;\">), the EEAA, and Red Sea governorate and protectorate authorities, the site includes <\/span><span style=\"background-color: transparent;\">separate areas for diving, swimming, and snorkeling, as well as no-entry areas to provide a safe space for dolphins to rest. Rules limit the size and number of boats in the area and the hours in which they can visit. The effective enforcement of these clear guidelines has protected the welfare of hundreds of dolphins and the wider reef and ecosystem from an influx of tourists from all over the world.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"background-color: transparent; font-weight: 700;\">We need more of the same: <\/span><span style=\"background-color: transparent;\">\u201cIf this model is replicated and adapted to different areas it coul<\/span><span style=\"background-color: transparent;\">d reduce the stressors on marine life before it\u2019s too late,\u201d says environmentalist Ahmed El Droubi of Climate Action Network. \u201cI appreciate that the government needs to bring in tourists for the much-needed hard currency, but this needs to be done in a manner that suits capacities in addition to increasing awareness and reducing the adverse impacts of visitors,\u201d he adds. \u201cCoastal development need not entail construction along the entire coast.\u201d<\/span><\/p>\n<hr style=\"height:2px;border-width:0;color:gray;background-color:gray\">\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:700;\">Your top green economy stories for the week:<\/span><\/p>\n<ul>\n<li><span style=\"font-weight:700\">Kom Ombo solar plant receives USD 123 mn in financing:<\/span><span> Saudi renewable energy developer ACWA Power yesterday <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/c1ad3b20-1799-47ed-83f8-c4caed4cd35c\" style=\"\">inked a USD 123 mn financing package<\/a><\/span><span style=\"font-weight:400;\"> to develop the 200 MW Kom Ombo solar power plant.<\/span><\/li>\n<li><span style=\"font-weight:700\">Egyptian-German JV to build two solar plants in Al Wadi El Gedid:<\/span><span> A joint venture between Egypt-based Smart Engineering Solutions (SES) and German solar company Frenell will <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/c1ad3b20-1799-47ed-83f8-c4caed4cd35c\" style=\"\">build two solar plants<\/a><\/span><span style=\"font-weight:400;\"> utilizing concentrated solar technology.<\/span><\/li>\n<li><span style=\"font-weight:700\">Could Germany\u2019s Wintershall store carbon in Egypt?<\/span><span> Wintershall Dea is <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/e190b5e2-bda5-4c64-a99b-658b11fd1262\" style=\"\">studying potential offshore carbon storage sites<\/a><\/span><span> in Egypt and Argentina.<\/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\/going-green\/\">going green<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/hurghada\/\">Hurghada<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/red-sea\/\">Red Sea<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/tourism\/\">tourism<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                    <\/div>\n    <\/div>\n\r\n                    <\/div>\r\n                <\/div>\r\n            <\/div>\r\n            <div class=\"wp-block-column\" style=\"flex-basis:19.8%\"><\/div>\r\n        <\/div>\r\n    <\/div>\r\n<\/div>\n<section id=\"585949\" 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\/05\/02\/585949\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-585949\" class=\"content-area-description single-story post-585949 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;\">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;\">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;\">1-5 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 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 style=\"font-weight:400;\">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 style=\"font-weight:400;\">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>29 May (Monday): <\/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;\">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 style=\"font-weight:400;\">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 style=\"font-weight:400;\">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 style=\"font-weight:400;\">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":585924,"menu_order":0,"template":"","categories":[],"tags":[],"class_list":["post-585923","issue","type-issue","status-publish","has-post-thumbnail","hentry","wpautop","entry"],"acf":{"mongo_id":"b521880d-9031-4bb5-aaaa-ccaace06359c","teaser":"","photo_url":"https:\/\/ent.news\/2023\/5\/89.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>Here\u2019s who\u2019s eligible to bid in the government\u2019s upcoming PPP desalination program - 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\" 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