{"id":587520,"date":"2023-05-29T02:30:00","date_gmt":"2023-05-29T02:30:00","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/?post_type=issue&#038;p=587520"},"modified":"2025-12-16T15:00:55","modified_gmt":"2025-12-16T15:00:55","slug":"mps-to-discuss-income-tax-changes-today","status":"publish","type":"issue","link":"https:\/\/enterpriseam.com\/egypt\/issues\/mps-to-discuss-income-tax-changes-today\/","title":{"rendered":"MPs to discuss income tax changes today"},"content":{"rendered":"<section id=\"587522\" 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=\"587522\">\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\/29\/mps-to-discuss-income-tax-changes-today-erdogan-wins-reelection\/\">\r\n                            Egyptian lawmakers to discuss income tax changes today + Erdogan wins reelection                        <\/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\/29\/mps-to-discuss-income-tax-changes-today-erdogan-wins-reelection\/\" target=\"_blank\">\n                    Open in new tab                    <!-- <img 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tag-recep-tayyip-erdogan tag-tax 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\/.0f5f9fd2-371c-4bec-b1fe-accd3cb6b3f3.mp3\"><\/audio><\/figure><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:400;\"><\/span><\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"\"><a id=\"wwtt1\"><\/a> <\/span><span style=\"font-weight:700\">Good morning, folks: Tax is continuing to dominate the agenda here at home<\/span><span style=\"\">, with <\/span><span>the government\u2019s <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/57ae47d8-33eb-484e-9908-ac47ec53f363\" style=\"\">proposed income tax changes<\/a><\/span><span> heading to the House today for discussion, a day after <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/d50d35d1-3aeb-45a0-bd26-02a55934eb07\" style=\"\">the \u2018entertainment tax\u2019 bill and a raft of other tax and duty hikes<\/a><\/span><span style=\"font-weight:400;\"> made it through the first round of voting in the General Assembly. We have all the details below.<\/span><\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:700;\">ALSO HAPPENING TODAY- <\/span><\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span><a id=\"wwtt2\"><\/a> <\/span><span style=\"font-weight:700\">Palestinian PM in Cairo: <\/span><span style=\"\">Palestinian Authority Prime Minister Mohammad Shtayyeh is landing <\/span><span>in Egypt today for a three-day visit following an invite from Prime Minister Moustafa Madbouly, the Palestinian Embassy in Cairo <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/www.facebook.com\/palembeg\/posts\/pfbid0uSsvRERfoNzr2pESQJvmd5kYMUco4JegKgLDYpcXSyQpCXkajfiZiQkJ9rgDztNKl\" style=\"\">said<\/a><\/span><span style=\"font-weight:400;\"> yesterday. <\/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 day two of <\/span><span style=\"-webkit-text-decoration-skip:none;font-weight:700;text-decoration-skip-ink:none\"><a href=\"https:\/\/www.propakmena.com\/en\/home.html\" style=\"\">Propak MENA<\/a><\/span><span style=\"\">, an annual event on all things processing and packaging in the <\/span><span style=\"font-weight:400;\">F&amp;B manufacturing industry. The event features over 100 companies from 20 countries gathered at the International Exhibition Center in New Cairo. The exhibition ends tomorrow.  <\/span><\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span><a id=\"wwtt3\"><\/a> <\/span><span style=\"font-weight:700\">IEF-IGU Ministerial Gas Forum:<\/span><span style=\"\"> The International Energy Forum and the International Gas <\/span><span>Union will hold its <\/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=\"\">Ministerial Gas Forum<\/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\">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\">Deadline for 1Q financials: <\/span><span style=\"\">Listed companies have until Tuesday, 30 May, to report and <\/span><span style=\"font-weight:400;\">publish their 1Q results.<\/span><\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;font-weight:700;\"><a href=\"https:\/\/enterprise.press\/am-edition\/#calendar\" style=\"\">Check out our full calendar on the web<\/a><\/span><span style=\"font-weight:400;\"> for a comprehensive listing of upcoming news events, national holidays and news triggers.<\/span><\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:400;\"><img data-recalc-dims=\"1\" decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2023\/5\/1543.jpg?ssl=1\"><\/span><\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:700;\">THE BIG STORIES ABROAD-<\/span><\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span><a id=\"wwtt4\"><\/a> <\/span><span style=\"font-weight:700\">Erdogan wins Turkish election:<\/span><span style=\"\"> Turkish President Recep Tayyip Erdogan defeated opposition <\/span><span style=\"font-weight:400;\">candidate Kemal Kilicdarogluin in yesterday\u2019s run-off vote to win a third term in office. Unofficial tallies showed Erdogan ahead with 52% of the votes with 99% of the ballots opened, a result that was later confirmed by the country\u2019s election authority. <\/span><\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:700\">Rapprochement to continue?<\/span><span style=\"\"> Egypt and Turkey have in recent months made moves to end <\/span><span>more than a decade of hostilities. A series of high-level talks between the two sides have indicated a will to restore diplomatic ties, reappoint ambassadors and lay the groundwork for the first ever meeting between El Sisi and Erdogan. Continuing the recent thawing of tensions, <\/span><span>El Sisi <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/www.facebook.com\/Egy.Pres.Spokesman\/posts\/pfbid02EhLJq75gXDrhkYESm25hJQNB7DDQke6BoofpkK61u9zLeSL5Jw8eE6mMEyxc1mtul\" style=\"\">sent a message to congratulate Erdogan<\/a><\/span><span style=\"font-weight:400;\"> on the victory yesterday \u2014 a sentiment that was shared by state TV last night where the talk shows were unexpectedly positive about his reelection (more on that below).<\/span><\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:700\">The story is on all the global front pages this morning:<\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/apnews.com\/article\/turkey-presidential-election-erdogan-kilicdaroglu-d4f8adee43d7cc807b39d1f47ef4baea\" style=\"\">Associated Press<\/a><\/span><span> | <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/www.reuters.com\/world\/middle-east\/erdogan-positioned-extend-rule-turkey-runoff-election-2023-05-27\/\" style=\"\">Reuters<\/a><\/span><span> | <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/www.bloomberg.com\/news\/articles\/2023-05-28\/erdogan-seals-election-victory-in-turkey-to-defy-naysayers?srnd=premium-middle-east\" style=\"\">Bloomberg<\/a><\/span><span> | <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/www.ft.com\/content\/6b950ee5-974d-41e6-ba65-11b98a594607\" style=\"\">Financial Times<\/a><\/span><span> | <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/www.nytimes.com\/2023\/05\/28\/world\/middleeast\/edorgan-election-turkey.html\" style=\"\">New York Times<\/a><\/span><span> | <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/www.washingtonpost.com\/world\/2023\/05\/28\/turkey-election-runoff-erdogan-kilicdaroglu\/\" style=\"\">Washington Post<\/a><\/span><span> | <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/www.wsj.com\/articles\/turkeys-erdogan-claims-victory-in-presidential-election-889d8cde\" style=\"\">Wall Street Journal<\/a><\/span><span> | <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/www.cnbc.com\/2023\/05\/28\/turkeys-president-erdogan-seals-election-victory-to-enter-third-decade-in-power.html\" style=\"\">CNBC<\/a><\/span><span>.<\/span><\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span><a id=\"wwtt5\"><\/a> <\/span><span style=\"font-weight:700\">Biden, McCarthy confirm debt ceiling agreement:<\/span><span style=\"\"> President Joe Biden and Republican <\/span><span style=\"font-weight:400;\">House Speaker Kevin McCarthy have reached a final agreement to raise the federal debt ceiling and avert a government default.<\/span><\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:700\">They\u2019re not yet in the clear:<\/span><span style=\"\"> The two sides now have to get the deal through a vote in <\/span><span>Congress on Wednesday, and there are signs that not everyone is happy about the agreement. The Financial Times said this morning that McCarthy is trying to prevent a revolt among the right-wing of the party, with the salmon-colored paper reporting that some officials are \u201cfuming\u201d about the compromise. <\/span><span>(<\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/apnews.com\/article\/debt-limit-deal-biden-mccarthy-default-01657c829be119850cd65ab9ffb0626a\" style=\"\">Associated Press<\/a><\/span><span> | <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/www.reuters.com\/world\/us\/mccarthys-next-challenge-sell-debt-ceiling-deal-congress-2023-05-28\/\" style=\"\">Reuters<\/a><\/span><span> | <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/www.bloomberg.com\/news\/articles\/2023-05-28\/biden-says-debt-ceiling-agreement-reached-to-avert-us-default?srnd=premium-middle-east\" style=\"\">Bloomberg<\/a><\/span><span> | <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/www.ft.com\/content\/4e30a1c1-e081-4f66-bc75-87c5de838552\" style=\"\">Financial Times<\/a><\/span><span> | <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/www.nytimes.com\/2023\/05\/28\/us\/politics\/biden-debt-limit-deal.html\" style=\"\">New York Times<\/a><\/span><span> | <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/www.washingtonpost.com\/business\/2023\/05\/27\/raise-debt-ceiling-budget\/\" style=\"\">Washington Post<\/a><\/span><span> | <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/www.wsj.com\/articles\/how-a-debt-ceiling-deal-that-neither-side-wanted-cracked-the-logjam-in-washington-829eac3f\" style=\"\">Wall Street Journal<\/a><\/span><span> | <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/www.cnbc.com\/2023\/05\/28\/biden-mccarthy-reach-final-deal-to-prevent-default-now-must-sell-to-congress.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\">Market reax:<\/span><span style=\"\"> Asian shares and US equity futures opened higher this morning following the <\/span><span style=\"font-weight:400;\">news, with the Nikkei leading gains. <\/span><\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:700\">** Reminder: The US and UK markets are closed today.<\/span><span style=\"\"> It\u2019s Memorial Day over in the US <\/span><span style=\"font-weight:400;\">while folks in the UK are taking the day off for the Spring Bank Holiday.<\/span><\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:700\">Brazil to host COP30:<\/span><span style=\"\"> The UN has officially chosen Belem \u2014 a Brazilian city in the Amazon <\/span><span>rainforest \u2014 as the host of the COP30 climate change summit in November 2025, President Luiz In\u00e1cio Lula da Silva announced yesterday, according to <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/www.reuters.com\/world\/americas\/brazil-says-un-confirmed-amazonian-city-belem-cop30-host-2023-05-26\/\" style=\"\">Reuters<\/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\">Before that:<\/span><span style=\"\"> Egypt will hand over the COP presidency to the UAE later this year, which will host <\/span><span style=\"font-weight:400;\">COP28 in November. The host for the COP29 summit hasn\u2019t yet been chosen.<\/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:400;\"><img data-recalc-dims=\"1\" decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2023\/5\/1545.jpg?ssl=1\"><\/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\"> Household electricity prices could be getting more expensive: <\/span><span style=\"\">The Madbouly government <\/span><span>will likely move forward with the planned increase in household electricity prices in July, <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/tinyurl.com\/4duhnp7f\" style=\"\">Asharq Business<\/a><\/span><span> reported yesterday, citing three <\/span><span style=\"font-weight:400;\">unnamed government officials. The government has \u201cthe intentions\u201d to increase electricity prices in correlation with recent exchange rate fluctuations, they said, adding that no final decision has been made yet.<\/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=\"\">Residential electricity bills had been set <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/6738af87-afde-4aee-befb-5234cb2ccc14\" style=\"\">to rise by as much as 21%<\/a><\/span><span style=\"\"> last year <\/span><span>under government plans to restructure pricing and <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/e3496a46-3ca8-4030-a63a-f2152d08f953\" style=\"\">phase out electricity subsidies by 2025<\/a><\/span><span> but were instead frozen to protect household budgets amid soaring inflation.<\/span><\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:700\">Egyptian tennis player Mayar Sherif is into the second round of the French Open<\/span><span style=\"\"> after <\/span><span style=\"font-weight:400;\">beating the US\u2019 Madison Brengle in straight sets yesterday. Sherif, currently ranked 54th in the world, defeated the 95th seed 6-3, 6-1 in just over an hour in Paris. She will play Russian world no.24 Anastasia Potapova in the second round on Wednesday.<\/span><\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:700;\">ICYMI-<\/span><\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:700\">Missed this week\u2019s Inside Industry? <\/span><span style=\"\">In our weekly vertical exploring all things industry and <\/span><span>manufacturing, we covered <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/fea8aa18-2731-456a-96e8-6b16d91c2363\" style=\"\">a panel discussion<\/a><\/span><span style=\"font-weight:400;\"> at the recent Enterprise Exports &amp; FDI Forum on <\/span><\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span>industrial clusters.<\/span><\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:700;\"><\/span><\/p><div class=\"row\">\n<div class=\"col-md-12 subscribe-box-panel\">\n<div class=\"\">\n<div class=\"title\">\n<h4 class=\"fw-lighter mb-10\">\n          Get <b style=\"font-weight: 700\">Enterprise<\/b> daily<br>\n        <\/h4>\n<\/div>\n<p class=\"mb-10\">The roundup of news and trends that move your markets and shape corporate agendas delivered straight to your inbox.<\/p>\n<p>     <a href=\"egypt\/en\/user\/NewsLetters\" type=\"button \" class=\"btn-green px-3 d-flex align-items-center\">Subscribe here<\/a>\n    <\/p><\/div>\n<\/div>\n<\/div><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:700\">ENTERPRISE IS LOOKING FOR SMART, TALENTED PEOPLE of all backgrounds to he<\/span><span style=\"font-weight:700\">lp us build some very cool new things.<\/span><span style=\"font-weight:400;\"> Enterprise \u2014 the essential morning read on all the important news shaping business and the economy in Egypt and the region \u2014 is looking for writers, reporters and editors to help us build out new publications. Today, we run four daily Egypt and MENA-focused publications, five weekly industry verticals, and a weekend lifestyle edition designed to make our readers feel just a bit smarter.<\/span><\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:700\">We have tons more in the pipeline \u2014 come help us build new publications.<\/span><span style=\"font-weight:400;\"> We offer the chance to work in a fast-paced newsroom on a broad range of topics and in a variety of formats. Our goal is simple: To create value for our growing community of &gt;250k daily readers by telling stories that matter.<\/span><\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:700;\">Journalists looking to explore business, finance and economic stories are welcome. So are recent journalism school graduates.<\/span><\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:700\">That said, we're looking for gifted story-tellers from all walks of life and across all professions<\/span><span style=\"font-weight:400;\">, as long as they show a keen interest in learning to write about the stories, topics, businesses, and figures moving markets. Egyptian and foreign nationals alike are welcome to apply. So are job-switchers: If you\u2019re an equities analyst tired of the rat race, we\u2019re a great place to come work.<\/span><\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:700\">NEVER WORKED IN A NEWSROOM BEFORE?<\/span><span style=\"font-weight:400;\"> We have the Enterprise Business Writing Development Program. Whether you are a recent graduate, an industry vet, or looking to switch careers, the Enterprise Business Writing Development Program will give you the tools you need to tell the most important stories to our audience of C-suite officials, government ministers, diplomats, financiers, investors and entrepreneurs.<\/span><\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:700;\">During the program you will learn:<\/span><\/p><ul>\n<li><span style=\"font-weight:400;\">The key news stories and trends shaping business and the economy in Egypt and the region, across various sectors;<\/span><\/li>\n<li><span style=\"font-weight:400;\">Business and finance for non-finance people: Whether it's industry jargon or key concepts or simply how to read a balance sheet;<\/span><\/li>\n<li><span style=\"font-weight:400;\">How to construct an Enterprise story: From idea formulation down to the structure, style and tone of writing;<\/span><\/li>\n<li><span style=\"font-weight:400;\">How to develop sources that will give you the key insights needed to tell a complete story;<\/span><\/li>\n<li><span style=\"font-weight:400;\">How to communicate these stories with the confidence and language of an insider.<\/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\">Not an internship program \u2014 a career:<\/span><span style=\"font-weight:400;\"> The three-month program will see full-time, paid participants take part in workshops and lectures from veteran business journalists, while also working on and filing stories that will run on any of our publications. Those who have successfully completed the program, will then be given long-term job offers.<\/span><\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:700\">Apply directly to jobs@enterprisemea.com and mention \u201cwriting development program\u201d<\/span><span style=\"font-weight:400;\"> in your subject line.<\/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\/2022\/10\/CIRA-Blackboard-Banner-B-1600.jpg\"><\/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 Blackboard day:<\/span><span style=\"font-weight:400;\"> We have our weekly look at the business of education in Egypt, from pre-K through the highest reaches of higher ed. <\/span><\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:700\">In today\u2019s issue:<\/span><span style=\"\"> We take a look at how Egyptian universities fare in the 2023 international <\/span><span>rankings.<\/span><\/p>\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/egypt-turkey-relations\/\">Egypt-Turkey relations<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/recep-tayyip-erdogan\/\">Recep Tayyip Erdogan<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/tax\/\">tax<\/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=\"587524 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=\"587524\">\r\n            \r\n            <div class=\"story__body\">\r\n\r\n                <a href=\"https:\/\/enterpriseam.com\/egypt\/2023\/05\/29\/587524\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-587524\" class=\"content-area-description single-story post-587524 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\/1472.jpg?ssl=1\"><\/a><\/span><\/p><div class=\"grouped-tags\">\n<p><span style=\"font-weight:400;\">Solasi Wellbeing Festival has been lovingly created by Yes Yoga and Osana Family Wellness and takes place at the beautiful Somabay from 21-23 September. Solasi brings you Sunrise Yoga, Sound Healing, Funky Classes, Morning Runs, Enlightening Workshops, Healing Treatments, Tai Chi, Meditation, Kids Activities, locally sourced food, and lots of dancing.<\/span><\/p>\n<p><span>Don't miss your chance to take #ThreeDaysOff and flow with us at Solasi at Somabay. Head to <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"http:\/\/www.solasifestival.com\" style=\"\">www.solasifestival.com<\/a><\/span><span> to find out more and book your pass today.<\/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=\"587525\" 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=\"587525\">\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\">Taxation<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2023\/05\/29\/house-of-representatives-gives-preliminary-nod-to-tax-hikes\/\">\r\n                            Egypt\u2019s House of Representatives gives preliminary nod to tax hikes                        <\/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\/29\/house-of-representatives-gives-preliminary-nod-to-tax-hikes\/\" target=\"_blank\">\n                    Open in new tab                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/new-tab.svg\" alt=\"\"> -->\n   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to tax hikes&url=https:\/\/enterpriseam.com\/egypt\/2023\/05\/29\/house-of-representatives-gives-preliminary-nod-to-tax-hikes\/\">\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\/29\/house-of-representatives-gives-preliminary-nod-to-tax-hikes\/&title=House of Representatives gives preliminary nod to tax hikes\">\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=House+of+Representatives+gives+preliminary+nod+to+tax+hikes+https%3A%2F%2Fenterpriseam.com%2Fegypt%2F2023%2F05%2F29%2Fhouse-of-representatives-gives-preliminary-nod-to-tax-hikes%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\/29\/house-of-representatives-gives-preliminary-nod-to-tax-hikes\/\">\r\n                    <div class=\"photo photo--above\">\r\n                        <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2023\/5\/1512.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"587526\" data-permalink=\"https:\/\/enterpriseam.com\/egypt\/2023\/05\/29\/house-of-representatives-gives-preliminary-nod-to-tax-hikes\/1512-jpg\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2023\/5\/1512.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"1512.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2023\/5\/1512.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2023\/5\/1512.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-587525\" class=\"content-area-description single-story post-587525 post type-post status-publish format-standard has-post-thumbnail hentry category-taxation tag-enterpriseam tag-house-of-representatives tag-legislation-watch tag-taxation 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\/.28a13cc5-d4f4-4827-86ed-2854c79b330b.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\">Tax hikes clear first hurdle in the House:<\/span><span style=\"\"> MPs<\/span><span style=\"\"> yesterday gave preliminary approval to a raft <\/span><span>of<\/span><span> t<\/span><span style=\"\">ax, duty and development fee hikes, 18 months after rejecting the government\u2019s initial plans to raise tax revenues. <\/span><span style=\"\">The changes include a new <\/span><span style=\"\">5-20% tax on entry to entertainment venues, new fees on purchases of duty-free projects, and a 10% fee on certain luxury goods. <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/d50d35d1-3aeb-45a0-bd26-02a55934eb07\" style=\"\">We covered the key details of the bills last week<\/a><\/span><span style=\"\"> when the <\/span><span style=\"\">House Planning and Budgeting Committee <\/span><span style=\"font-weight:400;\">gave it approval.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:700\">Remember:<\/span><span style=\"\"> The government has watered down its proposals after the House rejected them <\/span><span style=\"font-weight:400;\">back in 2021. The original bills would have imposed a 2% development fee on finished durable goods and a 5% fee on soft drinks.<\/span><\/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=\"\"> The House is set to<\/span><span style=\"\"> give its final approval to the amendments in an upcoming <\/span><span style=\"\">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:700\">Not everyone is onboard: <\/span><span style=\"\">Five leftist and liberal MPs rejected the bills and criticized the plans for <\/span><span>imposing new financial burdens on the public. \u201cThis government is <\/span><span style=\"\">targeting the pockets of citizens in any way and I think by doing so it has gone mad,\u201d <\/span><span>Social Democratic Party member Farid El Biadia<\/span><span style=\"font-weight:400;\"> said. \u201cThese tax and fee hikes go in conflict with recent government measures to create a more investment-friendly climate,\u201d leftist National Progressive Unionist Party spokesman Atef Meghawry said. Meanwhile, Justice Party spokesman Abdel Moneim Imam said that the state continues to target citizens to fill its budget deficit while continuing to spend \u201cextravagantly on needless projects such as building bridges.\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\">Maait responds:<\/span><span style=\"\"> Raising taxes is better than increasing foreign borrowing and is necessary to <\/span><span style=\"font-weight:400;\">pay for the increased spend on social safety programs, Finance Minister Mohamed Maait told MPs. Fakhry El Fiqi, who chairs the House Planning and Budgeting Committee, emphasized the importance of finding new revenue streams to pay for the higher welfare payments. \u201cThese new tax and fee hike bills are necessary to generate the financial resources necessary to spend on social safety programs like the Takaful and Karama initiative which needs EGP 6 bn to increase the number of families benefiting,\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\">ALSO FROM THE HOUSE- <\/span><span style=\"\">MPs approved a decision allowing Egypt to join the 2006 <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/www.ilo.org\/global\/standards\/maritime-labour-convention\/lang--en\/index.htm\" style=\"\">Maritime<\/a><\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/www.ilo.org\/global\/standards\/maritime-labour-convention\/lang--en\/index.htm\" style=\"\">Labour Convention<\/a><\/span><span style=\"\">, joining over <\/span><span style=\"\">100 countries<\/span><span style=\"\"> that have ratified the convention. The <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/www.ilo.org\/global\/standards\/maritime-labour-convention\/what-it-does\/WCMS_219665\/lang--en\/index.htm#:~:text=The%20Maritime%20Labour%20Convention%2C%202006,the%20flags%20of%20ratifying%20countries.\" style=\"\">convention aims<\/a><\/span><span style=\"font-weight:400;\"> to establish \u201cminimum working and living standards for all seafarers working on ships flying the flags of ratifying countries.\u201d <\/span><\/p>\n\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/house-of-representatives\/\">House of Representatives<\/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                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/taxation\/\">TAXATION<\/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=\"587527\" 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=\"587527\">\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\">DEBT WATCH<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2023\/05\/29\/banque-misr-could-soon-get-a-usd-260-mn-loan-from-ifc\/\">\r\n                            IFC could extend USD 260 mn loan to Banque Misr                        <\/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\/29\/banque-misr-could-soon-get-a-usd-260-mn-loan-from-ifc\/\" target=\"_blank\">\n                    Open in new tab                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/new-tab.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a href=\"#\" target=\"_blank\" onclick=\"event.preventDefault(); 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The IFC will fund USD 216.7 mn of the five-year loan, while the rest will come from its co-lending program. The lender will sign off on the loan on 30 June. <\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:700\">More than just funding: <\/span><span style=\"\">The IFC will also provide support with the development and implementation of an <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/www.ifc.org\/wps\/wcm\/connect\/topics_ext_content\/ifc_external_corporate_site\/sustainability-at-ifc\/publications\/publications_handbook_esms-general\" style=\"\">Environmental and Social Management System<\/a><\/span><span style=\"font-weight:400;\"> to help it manage ESG-related risks. <\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:700\">REMEMBER- <\/span><span style=\"\">The bank is <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/e36e3dbc-fb53-4ecd-ad87-d7271c06a08f\" style=\"\">getting a USD 100 mn<\/a><\/span><span style=\"\"> facility from the European Bank for Reconstruction and Development for on-lending to local MSMEs. The EBRD is expected to sign off on the facility on Wednesday.<\/span><\/p>\n\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/banking\/\">banking<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/banque-misr\/\">Banque Misr<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/debt-watch\/\">debt watch<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/development-finance\/\">development finance<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/international-finance-corporation\/\">International Finance Corporation<\/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=\"587529\" 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=\"587529\">\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\">Spotlight<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2023\/05\/29\/how-the-egypt-us-joint-economic-commission-could-deepen-economic-ties-spur-more-us-investment-in-egypt\/\">\r\n                            How the Egypt-US Joint Economic Commission could deepen economic ties + spur more US investment in Egypt                        <\/a>\r\n                    <\/h3>\r\n\r\n                    \r\n\t\t\t\t\t\n<div class=\"cta\">\n    <div class=\"cta__btn share-dropdown-cta dropdown-toggle-btn\" style=\"position:relative\">\n        <img decoding=\"async\" src=\"https:\/\/ent.news\/internal\/408834.svg\" alt=\"\">\n        Share Story\n        <!-- Dropdown Menu -->\n        <ul class=\"share-menu\">\n            <li class=\"list-inline-item\">\n                <a href=\"https:\/\/enterpriseam.com\/egypt\/2023\/05\/29\/how-the-egypt-us-joint-economic-commission-could-deepen-economic-ties-spur-more-us-investment-in-egypt\/\" target=\"_blank\">\n                    Open in new tab                   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Egypt\">\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=How+the+Egypt-US+Joint+Economic+Commission+could+deepen+economic+ties+%2B+spur+more+US+investment+in+Egypt+https%3A%2F%2Fenterpriseam.com%2Fegypt%2F2023%2F05%2F29%2Fhow-the-egypt-us-joint-economic-commission-could-deepen-economic-ties-spur-more-us-investment-in-egypt%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\/29\/how-the-egypt-us-joint-economic-commission-could-deepen-economic-ties-spur-more-us-investment-in-egypt\/\">\r\n                    <div class=\"photo photo--above\">\r\n                        <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2023\/5\/1040.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"587530\" data-permalink=\"https:\/\/enterpriseam.com\/egypt\/2023\/05\/29\/how-the-egypt-us-joint-economic-commission-could-deepen-economic-ties-spur-more-us-investment-in-egypt\/1040-jpg-2\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2023\/5\/1040.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"1040.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2023\/5\/1040.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2023\/5\/1040.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-587529\" class=\"content-area-description single-story post-587529 post type-post status-publish format-standard has-post-thumbnail hentry category-spotlight tag-egypt-us-relations tag-enterpriseam tag-investment-watch tag-joint-economic-commission tag-spotlight 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\/.b5fd28db-d969-48e7-b31b-9a5bbde64057.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\">EXCLUSIVE- What the Joint Economic Commission means for Egypt-US ties \u2014 and US<\/span><span style=\"font-weight:700\"> investment here:<\/span><span> The Egypt-US Joint Economic Commission (JEC) held its launch meeting in Cairo <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/c30d3f7d-1bef-423a-ae4f-b8da33080dbc\" style=\"\">earlier this month<\/a><\/span><span>, with a broad delegation of US government representatives and businesses discussing the expansion of economic and business ties between the two countries. The commission was first announced in <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/a4b1d0dc-6b9d-4d59-8469-5bd34bc62a7d\" style=\"\">November 2021<\/a><\/span><span style=\"font-weight:400;\"> as a working group to support Egypt\u2019s green transition, the economic empowerment of women, and the focus on infrastructure and ICT investments. <\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:700\">Enterprise sat down with US Under Secretary of Commerce for International Trade Marisa<\/span><span style=\"font-weight:700\"> Lago<\/span><span> and <\/span><span style=\"font-weight:700\">Principal Deputy Assistant Secretary for the Bureau of Economic and Business Affairs<\/span><span> at the US Department of State <\/span><span style=\"font-weight:700\">Whitney Baird<\/span><span style=\"font-weight:400;\"> to discuss the work of the joint commission and the next steps for the commercial relationship between Cairo and Washington. Edited excerpts from the conversation: <\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:700\">ENTERPRISE:<\/span><span style=\"\"> Tell us about the JEC and its significance for Egypt and the US and the ties<\/span><span style=\"font-weight:400;\"> between the two countries. <\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:700\">MARISA LAGO:<\/span><span style=\"font-weight:700\">The relationship between the US and Egypt is one that is a century old;<\/span><span style=\"font-weight:700\"> it\u2019s broad, and it\u2019s deep.<\/span><span style=\"font-weight:400;\"> The US has been Egypt\u2019s largest bilateral donor for many years and we\u2019re very much invested in the wellbeing of the Egyptian people. What came through from previous strategic dialogues and discussions was just this hunger to build on the economic and business relationship between the two countries because there\u2019s already a tremendous business presence here from US companies and there\u2019s real interest in discussing how we can move that forward. <\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:700\">There are already more than 1k US companies operating in Egypt and the US is one of<\/span><span style=\"font-weight:700\"> the largest sources of FDI in Egypt.<\/span><span style=\"font-weight:400;\"> The JEC\u2019s work therefore isn\u2019t to start a commercial relationship, but rather to look for ways to position it for growth and for future success as the economy evolves. <\/span><\/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 JEC was set up by our heads of state, which shows the importance that they place<\/span><span style=\"font-weight:700\"> on the trade, the investment, and the commercial relationship<\/span><span> between Egypt and the US. This is yet another way that our two nations can work together \u2014 and at a very high level. What we\u2019re looking to do is to deepen the ties that we have in the economic trade and investment spheres to promote shared prosperity for the Egyptian people and for the American people. We want to prepare our economies for the future \u2014 not just succeeding today, but preparing for success in the future. And then we have to be realistic about the fact that we are experiencing global economic shocks and we will in the future, so we are looking to <\/span><span>build in resilience<\/span><span style=\"font-weight:400;\"> to these shocks. <\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:700\">E:<\/span><span style=\"font-weight:400;\"> What were the key talking points during the JEC\u2019s launch 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\">ML: The JEC\u2019s inaugural meeting focused on the key economic and commercial issues of the<\/span><span style=\"font-weight:700\"> day:<\/span><span style=\"font-weight:400;\"> Energy and the transition to a future clean energy environment; the digital space; information and communications; technology \u2014 particularly as Egypt is investing so much in building out its infrastructure; supply chain resiliency; and food security. I was also very pleased that we discussed at length the economic empowerment of women. These are the topics that are front of mind when you have a healthy, strong bilateral economic relationship. <\/span><\/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 JEC\u2019s first session was a very strategic discussion about what are the areas that are<\/span><span style=\"font-weight:700\"> priorities for Egypt<\/span><span style=\"font-weight:400;\"> and where the US investment and trading community sees potential for collaboration and for US companies to come here right now. This isn\u2019t a country that\u2019s new to US businesses \u2014 many have been operating here successfully for years. But as the Egyptian government identifies priority sectors, we know that we have companies with cutting-edge solutions \u2014 frequently tech-driven \u2014 in areas where it would be mutually beneficial. So we discussed how to collaborate, how to make sure that the commercial environment in Egypt is as attractive as possible to bring in this additional investment.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:700\">We recognize that there are challenges in the global economic environment, but there is<\/span><span style=\"font-weight:700\"> also a big opportunity, and our discussions are focused on the future.<\/span><span style=\"font-weight:400;\"> For example, when people look at the clean energy transition, the focus has been on the need to address a challenge that is here now. But there is also a consideration for the potential jobs of the future.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:700\">E:<\/span><span style=\"\"> For US companies looking at Egypt for potential investments, what are some of the driving<\/span><span style=\"font-weight:400;\"> factors for that appetite?<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:700\">WHITNEY BAIRD:<\/span><span style=\"font-weight:700\">US companies look to the commercial business-enabling environment<\/span><span style=\"font-weight:700\"> and they look to growth opportunities.<\/span><span style=\"font-weight:400;\"> Let\u2019s take energy and the environment as a specific example. Egypt\u2019s presidency of COP27 was an indication of commitment to moving the economy towards the green transition, which is a globally shared goal and is absolutely top of mind in the Biden-Harris administration. So US companies seeing Egypt saying, \u201cThis is the direction we\u2019re headed\u201d is an indication for them that there\u2019s potential there for decarbonization solutions. <\/span><\/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 businesses are looking for is, primarily, a sense of opportunity.<\/span><span style=\"\"> And from what we\u2019ve<\/span><span style=\"font-weight:400;\"> heard, US businesses see a lot of opportunity in Egypt, so we\u2019re pushing on a pretty open door. Egypt also has promising market dynamics and demographics: An increasingly tech savvy population that is English speaking, a youth dividend, and the benefit of geography as a gateway to Africa \u2014 which across the board has this youth dividend as well. <\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:700\">ML:<\/span><span style=\"font-weight:700\">Many of these companies aren\u2019t the multinational giants that are already present in<\/span><span style=\"font-weight:700\"> Egypt \u2014 they\u2019re the small and medium-sized enterprises<\/span><span style=\"font-weight:400;\"> that are innovative and that grow out of our research universities. They\u2019re looking for where there is an alignment of Egyptian government interest and the tools and products that they have. <\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:700\">E:<\/span><span style=\"\"> In terms of the tech space in Egypt, where do you see potential for US businesses to<\/span><span style=\"font-weight:400;\"> introduce their innovative solutions?<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:700\">ML: I was really struck with how the Egyptian government has such a focus on the digital<\/span><span style=\"font-weight:700\"> transition.<\/span><span style=\"font-weight:400;\"> Egypt is a country with a young population and there\u2019s this entire generation of digital natives coming up who will be in an excellent position to be part of that growth. It therefore wasn\u2019t unusual to see that focus, and we saw a lot of potential for mutual benefit \u2014 there are plenty of US companies with great solutions and some promising potential areas of application in Egypt. <\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:700\">This focus on digitization was particularly evident in our discussions on financial<\/span><span style=\"font-weight:700\"> inclusion, particularly as it pertains to women in rural areas.<\/span><span style=\"font-weight:400;\"> There\u2019s very detailed, intensive work happening on the ground to bring women in villages online and into the digital world in a way that removes some of the financial friction these groups face. It\u2019s a way to formalize their financial transactions and build trust in the government, and the specific focus on women in that regard is a testament to the Egyptian government\u2019s focus on empowering women. The empowerment of women is the ethical thing to do, but it\u2019s also the right economic thing to do for the economy to reach its potential. <\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:700\">E:<\/span><span style=\"font-weight:400;\"> What are the next steps for the JEC?<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:700\">ML: Now it\u2019s about driving work forward <\/span><span style=\"font-weight:700\">into concrete<\/span><span style=\"font-weight:700\"> action plans.<\/span><span style=\"\"> We had constructive<\/span><span style=\"font-weight:400;\"> discussions with the folks who did all of the preparatory work for a successful launch of the JEC, and now they\u2019re charged with putting these discussions into action plans. Our next JEC meeting next year will focus on initiatives that are already under way and setting a work plan for the future. With this focus on commercial trade and investment ties, we are positioning our two nations to succeed for the next 100 years.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:700\">WB: Altogether, the launch of the JEC was an entirely positive outcome<\/span><span style=\"\"> \u2014 it sets us up to<\/span><span style=\"font-weight:400;\"> have ongoing discussions over the year to lead to the next check next year in Washington.<\/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-us-relations\/\">Egypt-US relations<\/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\/joint-economic-commission\/\">Joint Economic Commission<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/spotlight\/\">SPOTLIGHT<\/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=\"587531\" class=\"issue-section \">\n<div class=\"issue-section__content\">\n<div class=\"stories\">    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"587532\" 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=\"587532\">\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\">Infrastructure<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2023\/05\/29\/marsa-alams-first-solar-powered-desalination-plant-courtesy-of-karmwater\/\">\r\n                            KarmWater launches solar-powered desalination plant in Egypt\u2019s Marsa Alam                        <\/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\/29\/marsa-alams-first-solar-powered-desalination-plant-courtesy-of-karmwater\/\" 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\/29\/marsa-alams-first-solar-powered-desalination-plant-courtesy-of-karmwater\/')\">\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\/29\/marsa-alams-first-solar-powered-desalination-plant-courtesy-of-karmwater\/\">\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=Marsa Alam\u2019s first solar-powered desalination plant, courtesy of KarmWater&url=https:\/\/enterpriseam.com\/egypt\/2023\/05\/29\/marsa-alams-first-solar-powered-desalination-plant-courtesy-of-karmwater\/\">\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\/29\/marsa-alams-first-solar-powered-desalination-plant-courtesy-of-karmwater\/&title=Marsa Alam\u2019s first solar-powered desalination plant, courtesy of KarmWater\">\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=Marsa+Alam%E2%80%99s+first+solar-powered+desalination+plant%2C+courtesy+of+KarmWater+https%3A%2F%2Fenterpriseam.com%2Fegypt%2F2023%2F05%2F29%2Fmarsa-alams-first-solar-powered-desalination-plant-courtesy-of-karmwater%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\/29\/marsa-alams-first-solar-powered-desalination-plant-courtesy-of-karmwater\/\">\r\n                    <div class=\"photo photo--above\">\r\n                        <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2023\/5\/1503.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"587533\" data-permalink=\"https:\/\/enterpriseam.com\/egypt\/2023\/05\/29\/marsa-alams-first-solar-powered-desalination-plant-courtesy-of-karmwater\/1503-jpg-2\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2023\/5\/1503.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"1503.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2023\/5\/1503.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2023\/5\/1503.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-587532\" class=\"content-area-description single-story post-587532 post type-post status-publish format-standard has-post-thumbnail hentry category-infrastructure tag-ahmed-zahran tag-energy tag-enterpriseam tag-infrastructure tag-karmsolar tag-karmwater tag-renewables tag-water 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\/.935e4195-d4db-415b-91a6-4290cf942b52.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\">KarmWater\u2019s Marsa Alam desalination plant goes live: <\/span><span style=\"\">KarmSolar\u2019s wat<\/span><span style=\"\">er solutions arm <\/span><span style=\"\">has <\/span><span>launched the first solar-powered water desalination plant in Marsa Alam, KarmSolar CEO Ahmed Zahran told Enterprise. The plant produces some 300 cubic meters of water a day, covering 100% of consumption at R<\/span><span>ed Sea Diving Safari\u2019s <\/span><span>Marsa Shagra resort under a 25-year Water Purchase Agreement (WPA), Zahran said. <\/span><span>He declined to disclose the cost of the project. <\/span><\/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 plant is part-powered by renewables \u2014 and aims to go fully solar-powered by 2033: <\/span><span>Some 30% of the energy used for the desalination plant comes from KarmSolar\u2019s <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/www.karmsolar.com\/news\/introducing-the-launch-of-the-marsa-alam-solar-grid\" style=\"\">Marsa Alam Solar Grid<\/a><\/span><span>, which was launched in 2022 and provides electricity to several resorts across Marsa Alam including Marsa Shagra. The company is continually adjusting the energy mix and aims to power the desalination plant entirely through the Marsa Alam Solar Grid within the next decade, Zahran told us. <\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:700\">The company says its water is cheaper and better quality than competitors:<\/span><span> Water from the plant is sold to Red Sea Diving Safari at a c. 25% markdown from the market norm and has better salinity than \u201cconventional sources\u201d in the area, KarmWater said in a <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/ent.news\/2023\/5\/1478.pdf\" style=\"\">press release (pdf)<\/a><\/span><span style=\"font-weight:400;\">. \u201cWe\u2019ve been focusing a lot on the quality of water produced and it\u2019s very high,\u201d Zahran told us. \u201cWe are working in areas that already had private water desalination projects. The reason we managed to penetrate\u2026 is because our model was different and our quality was much higher.\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\">More in the works: <\/span><span>KarmWater is in discussions to launch several more desalination plants in the area, Zahran told us, without giving further details. The company also \u201cplans to invest in infrastructure such as pipelines that will allow delivery of desalinated water directly to customers, eliminating the need for water trucks,\u201d according to<\/span><span> the release. <\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:700\">Stay tuned:<\/span><span> We s<\/span><span>at down recently with Zahran to learn more about what KarmSolar has in the works and get his take on growth in our renewables and desalination sectors. Stay tuned for the full interview in our Going Green weekly vertical on the green economy. <\/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\/ahmed-zahran\/\">Ahmed Zahran<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/energy\/\">energy<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/infrastructure\/\">infrastructure<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/karmsolar\/\">KarmSolar<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/karmwater\/\">KarmWater<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/renewables\/\">renewables<\/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                    <\/div>\n    <\/div>\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"587534\" 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=\"587534\">\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\">A MESSAGE FROM HSBC<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2023\/05\/29\/shifting-gears-on-emerging-market-transport-emissions\/\">\r\n                            Shifting gears on emerging market transport emissions                        <\/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\/29\/shifting-gears-on-emerging-market-transport-emissions\/\" target=\"_blank\">\n                    Open in new tab                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/new-tab.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a href=\"#\" target=\"_blank\" onclick=\"event.preventDefault(); 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Supply chains <\/span><span style=\"font-weight:400;\">regularly involve long journeys, sometimes across multiple countries and continents, to take products from creation to consumption. But over half of greenhouse gas emissions generated across supply chains occur in the so-called \u201clast mile\u201d \u2014 the relatively short distance from warehouse to point of purchase. <\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span>A proven method to tackle <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/www.business.hsbc.com\/en-gb\/insights\/sustainability\/electrifying-the-last-mile\" style=\"\">last-mile delivery emissions<\/a><\/span><span style=\"font-weight:400;\"> is to convert petrol delivery vehicles to electric ones. The obstacle here however, especially in developing economies, is the significant capital required to upgrade delivery fleets.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span>However, Egyptian venture capital-backed start-up, <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/www.shift-ev.com\/\" style=\"\">Shift EV<\/a><\/span><span style=\"font-weight:400;\">, identified a solution to overcome this barrier to going green. Facilitated by HSBC, the team at Shift EV work with clients to retrofit minivans and delivery trucks with their in-house designed and manufactured lithium-ion battery packs. <\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:400;\">The company also connects converted vehicles remotely to ShiftWare, its fleet analytics and operating system, which help businesses make their delivery operations more sustainable and more efficient. <\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:400;\">Shift EV\u2019s service means fleet owners pay nothing up-front for the conversion and are guaranteed 30% savings over current costs.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:400;\">Founded in 2020, Shift EV sees significant potential for its business model beyond 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;\">\"There are around 25 mn commercial vehicles driving down streets across developing markets across the world, from pickup trucks, minivans, to small trucks. There is a great opportunity here to retrofit our supply chains on the journey to net zero.\u201d says Aly El Tayeb, CEO and co-founder of Shift EV.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:400;\">\"The reason why we chose to go after the last mile market is that most of the players in the market are run by large corporations that have strong mandates to cut their carbon emissions. Moreover, companies utilize warehouses in their operations, making charging so much easier,\" El Tayeb adds.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:400;\">The company is looking to onboard more clients and scale its operations across the Middle East and North Africa region. <\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:400;\">To help meet that target, HSBC provided Shift EV an unsecured working capital facility to finance a portion of its retrofitting contracts with corporate clients. It is one of the first such facilities issued by a bank in Egypt. HSBC is also supporting the company\u2019s import requirements through a secured import line.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:400;\">\u201cGiven that the majority of growth in e-commerce and demand for related logistics will come from developing countries, there is an urgent need to hasten the electrification of last-mile deliveries in places like Egypt and elsewhere in the region,\u201d says Ali Taqi, head of commercial banking at HSBC 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;\">\u201cShift EV has developed an effective model combining innovation in hardware, software and financing to help businesses facing resource constraints electrify their fleets. By doing so, the businesses can not only contribute to reduction of emissions, but also improve efficiencies to support their bottom line and that of their customers,\u201d Taqi adds. <\/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\/a-message-from-hsbc\/\">A MESSAGE FROM HSBC<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/automotive\/\">automotive<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/evs\/\">EVs<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/hsbc\/\">HSBC<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/shift-ev\/\">Shift EV<\/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=\"587536\" 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=\"587536\">\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\">WAR WATCH<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2023\/05\/29\/saudi-us-urge-sudan-factions-to-extend-truce-agreement\/\">\r\n                            Saudi, US urge Sudan factions to extend truce agreement                        <\/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\/29\/saudi-us-urge-sudan-factions-to-extend-truce-agreement\/\" 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\/29\/saudi-us-urge-sudan-factions-to-extend-truce-agreement\/')\">\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\/29\/saudi-us-urge-sudan-factions-to-extend-truce-agreement\/\">\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=Saudi, US urge Sudan factions to extend truce agreement&url=https:\/\/enterpriseam.com\/egypt\/2023\/05\/29\/saudi-us-urge-sudan-factions-to-extend-truce-agreement\/\">\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\/29\/saudi-us-urge-sudan-factions-to-extend-truce-agreement\/&title=Saudi, US urge Sudan factions to extend truce agreement\">\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=Saudi%2C+US+urge+Sudan+factions+to+extend+truce+agreement+https%3A%2F%2Fenterpriseam.com%2Fegypt%2F2023%2F05%2F29%2Fsaudi-us-urge-sudan-factions-to-extend-truce-agreement%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\/29\/saudi-us-urge-sudan-factions-to-extend-truce-agreement\/\">\r\n                    <div class=\"photo photo--above\">\r\n                        <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2023\/5\/1529.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"587537\" data-permalink=\"https:\/\/enterpriseam.com\/egypt\/2023\/05\/29\/saudi-us-urge-sudan-factions-to-extend-truce-agreement\/1529-jpg-2\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2023\/5\/1529.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"1529.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2023\/5\/1529.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2023\/5\/1529.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-587536\" class=\"content-area-description single-story post-587536 post type-post status-publish format-standard has-post-thumbnail hentry category-war-watch tag-2023-sudan-conflict tag-diplomacy 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\/.85d42a15-a982-469d-a8f2-a7d5db7b87b9.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 US and Saudi Arabia have urged warring sides in Sudan to extend the seven-day <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;font-weight:700;\"><a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/e05b573d-0650-473f-8bfe-f165bff75f72\" style=\"\">ceasefire<\/a><\/span><span style=\"font-weight:700\"> that is set to expire on Monday<\/span><span> in a<\/span><span> joint statemen<\/span><span>t carried by the <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/sp.spa.gov.sa\/viewstory.php?lang=en&newsid=2455924\" style=\"\">Saudi Press Agency<\/a><\/span><span>. \u201cWhile imperfect, an extension nonetheless will facilitate the delivery of urgently needed humanitarian assistance to the Sudanese people,\u201d the statement read. The paramilitary Rapid Support Forces (RSF) <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/3f30ddba-4ebb-41ab-af45-16b94d8f6ec7\" style=\"\">said on Saturday<\/a><\/span><span style=\"font-weight:400;\"> it was ready to discuss extending the agreement, which appears to have reduced but not put a stop to fighting on the ground. <\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:700\">Neither parties have respected the ceasefire: <\/span><span style=\"\">\u201cBoth parties have told facilitators their goal is <\/span><span>de-escalation to facilitate humanitarian assistance and essential repairs, yet both parties are posturing for further escalation,\u201d the US and Saudi Arabia said in another <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/twitter.com\/USEmbassyKRT\/status\/1662836879102816256?cxt=HHwWgMC9pZvVypMuAAAA\" style=\"\">statement<\/a><\/span><span style=\"font-weight:400;\">. The statement pointed to the RSF\u2019s continued encroachment in civilian areas and both factions preventing humanitarian organizations from providing relief to people in the 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\">UN High Commissioner for Refugees Filippo Grandi met Sudanese families <\/span><span style=\"\">at the Qastal <\/span><span>border crossing with Sudan and in Cairo yesterday, according to tweets by UNHCR Egypt and organization officials (<\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/twitter.com\/cbeshay\/status\/1662816403408183297\" style=\"\">here<\/a><\/span><span>, <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/twitter.com\/UNHCREgypt\/status\/1662774805454520320?cxt=HHwWgICwyYa4rpMuAAAA\" style=\"\">here<\/a><\/span><span> and <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/twitter.com\/FilippoGrandi\/status\/1662839536655781889?s=20\" style=\"\">here<\/a><\/span><span>). Grandi appealed to the international community \u201cnot to forget\u201d those who have fled Sudan or the countries hosting them <\/span><span>and to international donors \u201cto urgently support ongoing relief efforts by the authorities, local communities and aid agencies.\u201d<\/span><span> He was also <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/twitter.com\/cbeshay\/status\/1662474361998045187\" style=\"\">set to meet<\/a><\/span><span> with President Abdel Fattah El Sisi and Arab League Secretary-General Ahmed Aboul Gheit during his three-day visit, which wraps today.<\/span><\/p>\n\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/2023-sudan-conflict\/\">2023 Sudan conflict<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/diplomacy\/\">DIPLOMACY<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/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=\"587538 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=\"587538\">\r\n            \r\n            <div class=\"story__body\">\r\n\r\n                <a href=\"https:\/\/enterpriseam.com\/egypt\/2023\/05\/29\/587538\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-587538\" class=\"content-area-description single-story post-587538 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\/5\/989.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=\"587539\" 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=\"587539\">\r\n            \r\n                <div class=\"issue-story-header text-center\">\r\n                    <div class=\"index-number\">8<\/div>\r\n\r\n                    <p class=\"f-graphik\">LAST NIGHT\u2019S TALK SHOWS<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2023\/05\/29\/another-night-topped-by-tax-coverage\/\">\r\n                            Talk shows continue their coverage of proposed tax amendments                        <\/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\/29\/another-night-topped-by-tax-coverage\/\" target=\"_blank\">\n                    Open in new tab                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/new-tab.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a href=\"#\" target=\"_blank\" onclick=\"event.preventDefault(); 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The nation\u2019s talking heads also brought us coverage of the Turkish elections and the latest on the National Dialogue. <\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:700\">Budget Committee chair takes to the airwaves: <\/span><span style=\"\">House Budget Committee chairman Fakhry <\/span><span>El Feky joined Al Hayah Al Youm (<\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/www.youtube.com\/watch?v=og8CJQsr1n0\" style=\"\">watch, runtime: 31:11<\/a><\/span><span>) and Kelma Akhira (<\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/www.youtube.com\/watch?v=d4Ma5IG8tJA\" style=\"\">watch, runtime: 34:03<\/a><\/span><span>) to discuss the government\u2019s tax proposals. \u201cThe majority of MPs see that the new amendments won\u2019t affect the majority of Egyptians,\u201c he said. <\/span><span>Secretary General of the <\/span><span>Egyptian Taxation Society<\/span><span> Yasser Moharem<\/span><span> also joined Kelma Akhira to weigh in on the changes (<\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/www.youtube.com\/watch?v=ElYGNor8qII\" style=\"\">watch, runtime: 2:53<\/a><\/span><span style=\"font-weight:400;\">). \u201cWe could have gone without these amendments [the increased stamp tax and development fees] and instead establish other legislation that can bring in much higher revenues,\u201d Moharem said. We have the details in this morning\u2019s news well, above. <\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:700\">MPs need to be more involved: <\/span><span style=\"\">El Hekaya\u2019s Amr Adib (<\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/www.facebook.com\/watch\/?v=259441343414475\" style=\"\">watch, runtime: 1:52<\/a><\/span><span style=\"\">) called on MPs to <\/span><span style=\"font-weight:400;\">be more involved with the government\u2019s spending plans, saying that the House needs to supervise the government\u2019s budget allocations.  <\/span><\/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 talking heads gave Erdogan\u2019s win positive coverage: <\/span><span style=\"\">Turkish President Recep Tayyib <\/span><span>Erdogan yesterday secured 52% of the votes during the country\u2019s presidential elections, securing five more years in office. Amr Adib praised the vote, which he said was worthy of \u201cappreciation and respect\u201d (<\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/www.facebook.com\/watch\/?v=808970567243094\" style=\"\">watch, runtime: 1:05<\/a><\/span><span>), and interviewed Al Arabiya\u2019s correspondent in Turkey who joined Erdogan\u2019s supporters in the streets celebrating his win (<\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/www.facebook.com\/watch\/?v=1262172654670293\" style=\"\">watch, runtime: 7:46<\/a><\/span><span>). Ala Mas\u2019ouleety\u2019s Ahmed Moussa also covered the celebrations among Erdogan\u2019s supporters (<\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/www.youtube.com\/watch?v=AnuD75Gfo2Y\" style=\"\">watch, runtime: 5:43<\/a><\/span><span>) while Kelma Akhira\u2019s Lamees El Hadidi called Turkey an important player in the region and noted the recent warming of ties with Egypt (<\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/www.youtube.com\/watch?v=eoqNaswOwNk\" style=\"\">watch, runtime: 2:53<\/a><\/span><span style=\"font-weight:400;\">). <\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:700\">Could Egypt finally be getting freedom of information legislation? <\/span><span style=\"\">The National Dialogue will <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/www.facebook.com\/National.Dialogue.NTA\/posts\/pfbid02HLLXaH731MiDd8sSXUnRZg7AFbJAMuQhtQJSVmNCpjG96YqinT24LsL5ouacLVzul\" style=\"\">hold a<\/a><\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/www.facebook.com\/National.Dialogue.NTA\/posts\/pfbid02HLLXaH731MiDd8sSXUnRZg7AFbJAMuQhtQJSVmNCpjG96YqinT24LsL5ouacLVzul\" style=\"\">session<\/a><\/span><span> discussing a proposed <\/span><span>Freedom of Information Act <\/span><span>when it resumes sessions next Sunday. Ahmed Ragheb, assistant rapporteur for the dialogue\u2019s Human Rights Committee, told Masa\u2019a DMC that the bill covers the circulation of official documents, without providing further details (<\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/www.youtube.com\/watch?v=Yn9e-NSHBLE\" style=\"\">watch, runtime: 9:55<\/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-turkey-relations\/\">Egypt-Turkey relations<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/freedom-of-information\/\">Freedom of Information<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/last-nights-talk-shows\/\">LAST NIGHT\u2019S TALK SHOWS<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/recep-tayyip-erdogan\/\">Recep Tayyip Erdogan<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/tax\/\">tax<\/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=\"587541\" class=\"issue-section \">\n<div class=\"issue-section__content\">\n<div class=\"stories\">      \r\n<section id=\"advertiser\" class=\"enterprise-adv issue-section\">\r\n    <div class=\"issue-section__content\" style=\"flex-direction: column;\">\r\n  \r\n                <h4 class=\"wp-block-heading has-text-align-center has-normal-font-size\">\r\n                <span class=\"has-primary-color stk-highlight\">This publication is proudly sponsored by<\/span><\/h4>\r\n                \r\n\r\n                \r\n                <div class=\"wp-block-stackable-carousel alignwide stk-block-carousel stk--is-slide stk--infinite-scroll stk--arrows-justify-space-between stk--arrows-align-center stk-block stk-a38cfb2 sponsor-slider-container mb-0\" data-slides-to-show=\"3\" data-block-id=\"a38cfb2\"><style>.stk-a38cfb2 {--slides-to-show:3 !important;}.stk-a38cfb2 .stk-block-carousel__button{background:#00000099 !important;fill:#FFFFFF !important;border-radius:4px !important;}.stk-a38cfb2 .stk-block-carousel__button svg.ugb-custom-icon :is(g, path, rect, polygon, ellipse){fill:#FFFFFF !important;}<\/style>\r\n                <div 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Radar<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2023\/05\/29\/te-wraps-up-10-divestment-with-share-sale-to-employees-plus-efg-to-launch-new-sme-lender\/\">\r\n                            Telecom Egypt wraps up 10% divestment with share sale to employees. PLUS: EFG to launch new SME lender                        <\/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\/29\/te-wraps-up-10-divestment-with-share-sale-to-employees-plus-efg-to-launch-new-sme-lender\/\" 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\/29\/te-wraps-up-10-divestment-with-share-sale-to-employees-plus-efg-to-launch-new-sme-lender\/')\">\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\/29\/te-wraps-up-10-divestment-with-share-sale-to-employees-plus-efg-to-launch-new-sme-lender\/\">\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=TE wraps up 10% divestment with share sale to employees. PLUS: EFG to launch new SME lender&url=https:\/\/enterpriseam.com\/egypt\/2023\/05\/29\/te-wraps-up-10-divestment-with-share-sale-to-employees-plus-efg-to-launch-new-sme-lender\/\">\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\/29\/te-wraps-up-10-divestment-with-share-sale-to-employees-plus-efg-to-launch-new-sme-lender\/&title=TE wraps up 10% divestment with share sale to employees. PLUS: EFG to launch new SME lender\">\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=TE+wraps+up+10%25+divestment+with+share+sale+to+employees.+PLUS%3A+EFG+to+launch+new+SME+lender+https%3A%2F%2Fenterpriseam.com%2Fegypt%2F2023%2F05%2F29%2Fte-wraps-up-10-divestment-with-share-sale-to-employees-plus-efg-to-launch-new-sme-lender%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\/29\/te-wraps-up-10-divestment-with-share-sale-to-employees-plus-efg-to-launch-new-sme-lender\/\">\r\n                    <div class=\"photo photo--above\">\r\n                        <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2023\/5\/1536.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"587543\" data-permalink=\"https:\/\/enterpriseam.com\/egypt\/2023\/05\/29\/te-wraps-up-10-divestment-with-share-sale-to-employees-plus-efg-to-launch-new-sme-lender\/1536-jpg-6\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2023\/5\/1536.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"1536.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2023\/5\/1536.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2023\/5\/1536.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-587542\" class=\"content-area-description single-story post-587542 post type-post status-publish format-standard has-post-thumbnail hentry category-also-on-our-radar tag-also-on-our-radar tag-efg-holding tag-enterpriseam tag-financial-services tag-ma-watch tag-non-banking-financial-services tag-privatization-watch tag-telecom-egypt wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<figure class=\"wp-block-audio mb-0\"><audio controls preload=\"metadata\" src=\"https:\/\/s3.us-east-1.amazonaws.com\/ent.news\/audio\/2023\/5\/.b05341cf-dcb1-42a3-b668-13fa903fbe4c.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;\">PRIVATIZATION-<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"\"><\/span><span style=\"font-weight:700\">TE closes<\/span><span style=\"font-weight:700\"> share sale to employees<\/span><span style=\"\">: The government raised EGP 196.3 mn from the sale of a <\/span><span>0.5% stake (8.5 mn shares) in Telecom Egypt (TE) that were earmarked for the company\u2019s employees on the EGX yesterday, according to <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/ent.news\/2023\/5\/1480.png\" style=\"\">an EGX bulletin<\/a><\/span><span>. The transaction wraps the government\u2019s secondary offering of a 10% stake in TE, bringing the total value raised to some EGP 3.95 bn. Shares were priced at EGP 23.11 apiece in both portions of the offering, with the<\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/053a8175-6db9-4185-ab3d-520dc017ac28\" style=\"\">9.5% stake<\/a><\/span><span> sale (162.2 mn shares)<\/span><span style=\"font-weight:400;\"> to institutional investors earlier this month raising some EGP 3.75 bn. The transaction marks the first significant sale in the state\u2019s privatization program, which aims to raise some USD 2 bn by the end of June. <\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:700\">Market reax:<\/span><span style=\"\"> TE\u2019s share price rose 3.6% during yesterday\u2019s session, closing at EGP 24.24.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:700;\">FINANCE-<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:700\">EFG Holding\u2019s NBFI platform<\/span><span style=\"font-weight:700\">plans to launch a new company that will offer financing to <\/span><span style=\"font-weight:700\">SMEs<\/span><span>, EFG Finance <\/span><span>CEO Aladdin El Afifi confirmed to Enterprise yesterday after the news was first reported by <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/bit.ly\/3N2lta8\" style=\"\">Al Mal<\/a><\/span><span>. The new firm will extend loans of <\/span><span>between EGP 250k and EGP 5 mn<\/span><span>, with a focus on SMEs in the <\/span><span style=\"font-weight:400;\">tech and food sectors, he said. It will draw on the existing customer base at EFG Finance subsidiaries including microfinance provider Tanmeyah, according to El Afifi. <\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:700;\">CONSTRUCTION-<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:700\">Egyptian contractors have USD 15 bn worth of Libyan contracts pending: <\/span><span style=\"\">Egyptian <\/span><span>contractors have signed USD 15 bn worth of contracts with Libya over the past 18 months but current political instability has made it difficult for companies to start construction, Hassan Abdelaziz, president of African Federation for Construction Contractor's Associations (AFCCA), told CNBC Arabia (<\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/bit.ly\/43cpfDx\" style=\"\">watch, runtime: 1:41<\/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\/efg-holding\/\">EFG Holding<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/financial-services\/\">financial services<\/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\/non-banking-financial-services\/\">non-banking financial services<\/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\/telecom-egypt\/\">Telecom Egypt<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                    <\/div>\n    <\/div>\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"587544\" class=\"issue-section markets\">\n<div class=\"issue-section__content\">\n<div class=\"stories\">            <!-- Show divider before story section -->\r\n        <div \r\n    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data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2023\/5\/1539.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2023\/5\/1539.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-587544\" class=\"content-area-description single-story post-587544 post type-post status-publish format-standard has-post-thumbnail hentry category-planet-finance tag-debt tag-emerging-markets tag-enterpriseam tag-financial-markets tag-moodys tag-planet-finance wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<aside>\t\t\t<div\r\n\t\t\t\t\t\t\t\tclass=\"newspack-popup-container newspack-popup hidden  newspack-inline-popup  newspack-lightbox-no-border   \"\r\n\t\t\t\trole=\"button\"\r\n\t\t\t\ttabindex=\"0\"\r\n\t\t\t\tstyle=\"background-color:#FFFFFF;color:#000\"\r\n\t\t\t\tid=\"id_408150\"\r\n\t\t\t\tdata-segments=\"\"\r\n\t\t\t\tdata-frequency=\"0,0,0,month\"\r\n\t\t\t>\r\n\t\t\t\t\n<div class=\"wp-block-group has-light-gray-background-color has-background\" style=\"padding-top:0px;padding-right:0px;padding-bottom:0px;padding-left:0px\"><div class=\"wp-block-group__inner-container is-layout-constrained wp-container-core-group-is-layout-ef38739e wp-block-group-is-layout-constrained\">\n<div class=\"wp-block-group is-content-justification-center is-nowrap is-layout-flex wp-container-core-group-is-layout-94bc23d7 wp-block-group-is-layout-flex\"><div class=\"wp-block-image\">\n<figure class=\"aligncenter size-full\"><img decoding=\"async\" src=\"https:\/\/ent.news\/internal\/408151.svg\" alt=\"\" class=\"wp-image-408151\"\/><\/figure>\n<\/div><\/div>\n<\/div><\/div>\n\t\t\t<\/div>\r\n\t\t<\/aside>\n<figure class=\"wp-block-audio mb-0\"><audio controls preload=\"metadata\" src=\"https:\/\/s3.us-east-1.amazonaws.com\/ent.news\/audio\/2023\/5\/.dbea9e88-8d03-4888-a717-c5c66f4026fd.mp3\"><\/audio><\/figure><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"\"><\/span><span style=\"font-weight:700\"> No let up for emerging economies this year - Moody\u2019s:<\/span><span style=\"\"> Rating agency Moody\u2019s expects <\/span><span>growth to slow \u201cin most emerging markets this year\u201d as economic headwinds emanating from the US continue to spill over into the global economy, according to a report picked up by <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/www.reuters.com\/markets\/emerging\/moodys-emerging-market-credit-be-tight-amid-us-led-risks-2023-05-25\/\" style=\"\">Reuters<\/a><\/span><span style=\"font-weight:400;\">. Rising US interest rates, instability in the financial sector and expectations for a shallow recession later in the year will prolong weak credit conditions among EMs, which are struggling with higher borrowing costs and difficulties accessing the international capital markets, it said.<\/span><\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:700\">EMs are in hot water: <\/span><span style=\"\">Five emerging economies have already slipped into default, while 11 <\/span><span>others are approaching it with their USD debt trading at \u201cdistressed levels\u201d \u2014 including Egypt, which has had its credit rating downgraded by <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/6410f1ca-48c0-44a5-bb82-331386644ca4\" style=\"\">Moody\u2019s<\/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\/39706d92-c6c9-4a7b-97e9-d3db6864c218\" style=\"\">Fitch<\/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\">Could New York lawmakers hold the key to easing EM debt stress?<\/span><span style=\"\"> Several bills that would <\/span><span>make it easier for countries to restructure debts with private bondholders are currently being discussed in the New York Senate, potentially giving indebted countries breathing room should lawmakers vote them through in a few weeks time, <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/www.bloomberg.com\/news\/articles\/2023-05-28\/the-frantic-push-to-solve-sovereign-debt-crises-irks-wall-street\" style=\"\">Bloomberg<\/a><\/span><span style=\"font-weight:400;\"> writes. The bills would restrict how much investors can recoup when countries restructure their debt, a move which should make it easier for nations to negotiate debt relief and lower legal costs.<\/span><\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:700\">Why this matters:<\/span><span style=\"\"> Laws in the state of New York govern around half of all FX-denominated <\/span><span style=\"font-weight:400;\">bonds issued by EM sovereigns.<\/span><\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:700;\">ALSO WORTH NOTING-<\/span><\/p><ul>\n<li><span style=\"font-weight:700\">Saudi reserves dip to decade low: <\/span><span style=\"\">Saudi Arabia\u2019s net foreign assets dropped to SAR <\/span><span>1.54 tn (c. USD 410  bn) in April, the lowest level since 2010. (<\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/ent.news\/2023\/5\/1525.pdf\" style=\"\">Central bank data, pdf<\/a><\/span><span> | <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/www.bloomberg.com\/news\/articles\/2023-05-28\/saudi-net-reserves-fall-to-410-billion-lowest-since-2010?srnd=premium-middle-east\" style=\"\">Bloomberg<\/a><\/span><span style=\"font-weight:400;\">)<\/span><\/li>\n<li><span style=\"font-weight:700\">European gas prices have hit their lowest point since mid-2021 <\/span><span style=\"\">after falling for eight <\/span><span>consecutive weeks<\/span><span>thanks to higher imports of LNG, a milder winter season, and sluggish economic activity. (<\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/www.bloomberg.com\/news\/articles\/2023-05-28\/gas-price-plunge-brings-relief-to-europe-after-energy-panic?srnd=premium-middle-east\" style=\"\">Bloomberg<\/a><\/span><span>)<\/span><\/li>\n<\/ul><p><a id=\"t.bc9c89c93321224a6aa3a21e83fc4fc1730683a2\"><\/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-up\">\n<td class=\"td-list-up\">\n<p><svg class=\"e-icon e-TypeMarkets11\"><use xlink:href=\"#e-TypeMarkets11\"><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><span style=\"font-weight:700\">EGX30 <\/span><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><span style=\"font-weight:400;\">17,131<\/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: +17.4%)<\/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;\">11,138<\/span><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><span style=\"font-weight:400;\">-0.4% (YTD: +6.3%)<\/span><\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-up\">\n<td class=\"td-list-up\">\n<p><svg class=\"e-icon e-TypeMarkets11\"><use xlink:href=\"#e-TypeMarkets11\"><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><span style=\"font-weight:700\">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;\">9,453<\/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;\">+0.6% (YTD: -7.4%)<\/span><\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-up\">\n<td class=\"td-list-up\">\n<p><svg class=\"e-icon e-TypeMarkets11\"><use xlink:href=\"#e-TypeMarkets11\"><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><span style=\"font-weight:700\">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;\">3,541<\/span><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><span style=\"font-weight:400;\">+0.4% (YTD: +6.2%)<\/span><\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-up\">\n<td class=\"td-list-up\">\n<p><svg class=\"e-icon e-TypeMarkets11\"><use xlink:href=\"#e-TypeMarkets11\"><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><span style=\"font-weight:700\">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;\">4,205<\/span><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><span style=\"font-weight:400;\">+1.3% (YTD: +9.5%)<\/span><\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-up\">\n<td class=\"td-list-up\">\n<p><svg class=\"e-icon e-TypeMarkets11\"><use xlink:href=\"#e-TypeMarkets11\"><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><span style=\"font-weight:700\">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;\">7,627<\/span><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><span style=\"font-weight:400;\">+0.7% (YTD: +2.4%)<\/span><\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-up\">\n<td class=\"td-list-up\">\n<p><svg class=\"e-icon e-TypeMarkets11\"><use xlink:href=\"#e-TypeMarkets11\"><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><span style=\"font-weight:700;\">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;\">4,338<\/span><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><span style=\"font-weight:400;\">+1.6% (YTD: +14.3%)<\/span><\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-up\">\n<td class=\"td-list-up\">\n<p><svg class=\"e-icon e-TypeMarkets11\"><use xlink:href=\"#e-TypeMarkets11\"><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><span style=\"font-weight:700\">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 76.95<\/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%<\/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 2.42<\/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;\">-2.4%<\/span><\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-none\">\n<td class=\"td-list-none\">\n<p><svg class=\"e-icon e-TypeMarkets\"><use xlink:href=\"#e-TypeMarkets\"><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><span style=\"font-weight:700;\">Gold<\/span><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><span style=\"font-weight:400;\">USD 1,963.10<\/span><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><span style=\"font-weight:400;\">0.0%<\/span><\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-up\">\n<td class=\"td-list-up\">\n<p><svg class=\"e-icon e-TypeMarkets11\"><use xlink:href=\"#e-TypeMarkets11\"><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><span style=\"font-weight:700\">BTC<\/span><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><span style=\"font-weight:400;\">USD 27,578<\/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;\">+3.0% (YTD: +66.9%)<\/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 rose 0.5% at yesterday\u2019s close<\/span><span style=\"\"> on turnover of EGP 1.89 bn. Regional investors <\/span><span style=\"\">were<\/span><span style=\"font-weight:400;\"> net buyers. The index is up 17.4% YTD.<\/span><\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:700\">In the green: <\/span><span style=\"font-weight:400;\">Edita (+11.3%), Abu Dhabi Islamic Bank (+7.5%) and Ibnsina Pharma (+5.2%).<\/span><\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:700\">In the red: <\/span><span>Taaleem (-5.0%), Abu Qir Fertilizers (-1.6%) and Ezz Steel (-1.4%).<\/span><\/p>\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/debt\/\">debt<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/emerging-markets\/\">emerging markets<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/financial-markets\/\">Financial Markets<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/moodys\/\">Moody\u2019s<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/planet-finance\/\">Planet Finance<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                    <\/div>\n    <\/div>\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"587546\" 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=\"587546\">\r\n            \r\n                <div class=\"issue-story-header text-center\">\r\n                    <div class=\"index-number\">11<\/div>\r\n\r\n                    <p class=\"f-graphik\">AROUND THE WORLD<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2023\/05\/29\/saudi-arabia-is-looking-to-join-the-brics-bank\/\">\r\n                            Saudi Arabia is looking to join the BRICS bank                        <\/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\/29\/saudi-arabia-is-looking-to-join-the-brics-bank\/\" target=\"_blank\">\n                    Open in new tab                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/new-tab.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a href=\"#\" target=\"_blank\" onclick=\"event.preventDefault(); 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If the kingdom joins the club, it would give the USD 100 bn bank another potential funding source and help cement growing ties between Saudi Arabia and China, the FT notes. <\/span><\/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- Egypt <\/span><span style=\"-webkit-text-decoration-skip:none;font-weight:700;text-decoration-skip-ink:none\"><a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/d7b8e96b-ec30-4ce0-9344-4f250f112875\" style=\"\">became a member<\/a><\/span><span style=\"font-weight:700\"> of the multilateral lender back in February<\/span><span style=\"\">. The <\/span><span style=\"font-weight:400;\">bank was set up in 2014 by the BRICS \u2014 a group of high-profile emerging markets including Brazil, Russia, India, China and South Africa \u2014  to fund infrastructure projects in its member countries.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:700;\">ALSO WORTH NOTING-<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:700\">Canada + Saudi Arabia are friends again:<\/span><span style=\"\"> Saudi Arabia and Canada have agreed to appoint <\/span><span>new ambassadors, bringing to a close a dispute that has been ongoing between the countries for the past four years, reports <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/www.reuters.com\/world\/canada-saudi-arabia-appoint-new-ambassadors-end-2018-dispute-2023-05-24\/\" style=\"\">Reuters<\/a><\/span><span>. The move comes in the wake of discussions held last year between the leaders of the two countries, Canadian Prime Minister Justin Trudeau and Saudi Crown Prince Mohammed bin Salman. <\/span><\/p>\n\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/around-the-world\/\">Around the World<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/brics\/\">BRICS<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/middle-east-politics\/\">Middle East politics<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                    <\/div>\n    <\/div>\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<div class=\"alignfull vertical-section wide-section blackboard wp-block-group issue-section\" id=\"587548\">\r\n    <div class=\"issue-section__content\">\r\n        <div class=\"alignwide wp-block-columns\">\r\n            <div class=\"wp-block-column sidebar-vertical-info\" style=\"flex-basis:22.8%\">\r\n                <figure class=\"wp-block-image size-full\">\r\n                                            <img decoding=\"async\" src=\"https:\/\/s3.amazonaws.com\/resources.inktankir.com\/internal\/27466.svg\" style=\"width:80%\" alt=\"\" >\r\n                                    <\/figure>\r\n                <p>\r\n                    Our weekly deep dive into education in Egypt, from K-12 to post-secondary.                <\/p>\r\n                <figure class=\"wp-block-image size-full mt-0 mb-0 img-white-bg\"><img decoding=\"async\" src=\"https:\/\/s3.amazonaws.com\/resources.inktankir.com\/internal\/27480.svg\" alt=\"\"><\/figure>\r\n                <p class=\"has-text-color has-link-color\">\r\n                    Published every Monday 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\/blackboard\/\">\r\n                            Read Blackboard                        <\/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\">12<\/div>\r\n\r\n                        <p class=\"f-graphik\">BLACKBOARD<\/p>\r\n                        <h3 class=\"story-title\"><a href=\"https:\/\/enterpriseam.com\/egypt\/blackboards\/its-a-mixed-bag-for-egyptian-universities-research-centers-in-2023-world-rankings\/\">\r\n                            University and research center rankings see Egyptian universities rise and fall in int\u2019l standings<\/a>\r\n                        <\/h3>\r\n                        \r\n\t\t\t\t\t\n<div class=\"cta\">\n    <div class=\"cta__btn share-dropdown-cta dropdown-toggle-btn\" style=\"position:relative\">\n        <img decoding=\"async\" src=\"https:\/\/ent.news\/internal\/408834.svg\" alt=\"\">\n        Share Story\n        <!-- Dropdown Menu -->\n        <ul class=\"share-menu\">\n            <li class=\"list-inline-item\">\n                <a href=\"https:\/\/enterpriseam.com\/egypt\/blackboards\/its-a-mixed-bag-for-egyptian-universities-research-centers-in-2023-world-rankings\/\" target=\"_blank\">\n                    Open in new tab                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/new-tab.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a href=\"#\" target=\"_blank\" onclick=\"event.preventDefault(); 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Spanish research organization <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/www.scimagoir.com\/rankings.php?sector=Higher%20educ.\" style=\"\">SCImago<\/a><\/span><span style=\"font-weight:400;\"> included 49 universities on their list, up from 42 in 2022; 27 government research centers were listed from 22 last year; and six health organizations made the list this year compared to last year\u2019s four. <\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:700\">SCImago\u2019s methodology takes three major criteria into account \u2014 research, innovation and society:<\/span><span style=\"font-weight:400;\"> Some 40% of SCImago\u2019s ranking model comes from research performance, which tracks metrics like the quality of publications produced by these centers and the frequency of their output. Innovation snaps up another 40% of the ranking and measures the technical impact of their work based on patents and patent citations. The remaining 20% of the weighting looks at societal metrics such as web presence and their contribution to sustainable development goals.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:700\">Who\u2019s involved? <\/span><span>The rankings are sponsored by Egypt\u2019s Higher Education and Scientific Research Ministry, which shares \u201cinsights related to research centers and strategies,\u201d according to SCImago. Netherlands-based academic publishing company <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/www.elsevier.com\/\" style=\"\">Elsevier<\/a><\/span><span> and its <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/www.elsevier.com\/solutions\/scopus\" style=\"\">Scopus<\/a><\/span><span style=\"font-weight:400;\"> platform are the main data providers for the rankings, which SCImago then develops into its final rankings.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:700\">Top 3 all fall: <\/span><span style=\"\">SCImago\u2019s overall rankings list sees Cairo University, Ain Shams University,<\/span><span style=\"\"> and <\/span><span style=\"font-weight:400;\">Alexandria University as Egypt\u2019s highest-ranked universities \u2014 a repeat of 2022\u2019s top three. All three universities saw their rankings decline this year, with Alexandria University dropping 150 places to 2630, Ain Shams falling to 2506 from 2180, and Cairo University slipping to 1125 from 985.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:700\">Egyptian universities were less present in overall regional rankings: <\/span><span style=\"font-weight:400;\">Despite its local success, Cairo University missed out on a top 10 spot in the Middle East institution\u2019s rankings, coming in at number 12 in 2023 \u2014 one down from its 2022 ranking. No other Egyptian organizations landed in the top 20 Middle Eastern universities for this year.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:700\">When we look at the research rankings, there was little change from last year:<\/span><span style=\"font-weight:400;\"> Cairo University (768) took the top spot in Egypt, followed by Ain Shams University (2300) and Zagazig University (2464). Cairo University (523) also came first in the societal rankings, with Alexandria University (980) and Ain Shams University (984) following. Misr University for Science and Technology (2200) received the top spot for innovation, followed by Pharos University in Alexandria (2255) and Nile University (2952).<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:700\">Where we shone regionally: Research rankings for government centers:<\/span><span style=\"font-weight:400;\"> Egyptian organizations dominated the Middle East research scores taking eight spots in the top 10, with the National Research Center (NRC) at #3, Arid Lands Cultivation Research Institute at #4, and Plant Pathology Research Institute at #5. Local institutes accounted for 27 of the total 64 Egyptian government centers included in SCImago\u2019s list, compared to 22 out of 55 institutions last year. The NRC fared well in the overall regional rankings for government centers, ranking in the top 10 alongside the Environment and Natural Materials Research Institute and Advanced Technology and New Materials Research Institute. <\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:700\">How are research institutes chosen? <\/span><span style=\"font-weight:400;\">All MENA region research centers that do not belong to a higher education institute and are conducting non-health related research have been included in these rankings, according to SCImago. But there\u2019s one more rule: All research centers need to have published at least one academic paper in a journal on the Scopus database at some point between 2016-2020 to be eligible.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:700\">Driving the advancement of our scientific research: <\/span><span>Greater provision of technical support, education regarding international publishing, scientific promotion committees and information made available through the Egyptian Knowledge Bank, said ministry spokesperson Adel Abdel Ghaffar, according to the <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/tinyurl.com\/43d4hyz5\" style=\"\">State Information Service<\/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\">That top-down focus from the government has been key to improving Egypt\u2019s scientific research ranking<\/span><span>, Peter Okebukola, president of the Global University Network for Innovation, told <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/www.weforum.org\/agenda\/2023\/04\/africa-universities-world-rankings-growth-summit-2023\/\" style=\"\">the World Economic Forum<\/a><\/span><span style=\"font-weight:400;\">. \u201cIncreased funding through special interventions for research and infrastructural development\u201d can be seen in Egypt, he said. Success breeds success, he added, as higher global rankings help attract international students and research grants, supporting further ranking rises.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:400;\"><\/p>\n<hr style=\"height:2px;border-width:0;color:gray;background-color:gray\">\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:700;\">Your top education stories for the week:<\/span><\/p>\n<ul>\n<li><span style=\"font-weight:700\">AUC has a new counselor:<\/span><span style=\"\"> The American University in Cairo (AUC) <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/0bc1f4b7-6619-4655-96c9-170717019553\" style=\"\">appointed<\/a><\/span><span style=\"\"> former <\/span><span>education minister Tarek Shawki as the new university counselor. <\/span><\/li>\n<\/ul>\n<ul>\n<li><span style=\"font-weight:700\">Gov\u2019t wants a new policymaking body for education:<\/span><span style=\"\"> Prime Minister Moustafa <\/span><span>Madbouly has <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/1048ec81-b8b7-415c-8baa-b4ea3e6f3ecc\" style=\"\">forwarded<\/a><\/span><span style=\"font-weight:400;\"> a draft decision to establish a National Council for Education to the National Dialogue which would be responsible for setting policies and supervising their implementation.<\/span><\/li>\n<li><span style=\"font-weight:700\">US-based MENA-focused e-learning company <\/span><span style=\"-webkit-text-decoration-skip:none;font-weight:700;text-decoration-skip-ink:none\"><a href=\"https:\/\/classera.com\/\" style=\"\">Classera<\/a><\/span><span style=\"font-weight:700\"> launched <\/span><span style=\"-webkit-text-decoration-skip:none;font-weight:700;text-decoration-skip-ink:none\"><a href=\"https:\/\/edumalls.com\/eg_en?___store=eg_en&___from_store=sa_en\" style=\"\">EduMalls<\/a><\/span><span style=\"\">, the <\/span><span>first specialized e-commerce platform catering to students in Egypt and Saudi Arabia across all educational stages. (<\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/ent.news\/2023\/5\/1528.pdf\" style=\"\">Statement, pdf<\/a><\/span><span style=\"font-weight:400;\">)<\/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\/blackboard\/\">Blackboard<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/education\/\">Education<\/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=\"587550\" 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\/29\/587550\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-587550\" class=\"content-area-description single-story post-587550 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\">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;\">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>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=\"\">29 May (Monday): <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/eaba-com.com\/ar\/egyptian-rwandan-day\/\" style=\"\">Egyptian-Rwa<\/a><\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/eaba-com.com\/ar\/egyptian-rwandan-day\/\" style=\"\">ndan Investment and Trade Day<\/a><\/span><span style=\"font-weight:400;\">, Helnan Landmark Hotel, 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;\">June: Egyptian-Saudi business forum.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span>1-3 June (Thursday-Saturday): <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/www.elre7la.com\/fintech-industry-retreat-2023?fbclid=IwAR1xpkJlYVp-Zyt4pKn-_CvVtbsSZGd8QDaZKW1YVGvceJANF95dN5dniqw\" style=\"\">Fintech Industry retreat<\/a><\/span><span style=\"font-weight:400;\">, Hurghada.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:400;\">3-4 June (Saturday-Sunday): OPEC+ meeting, Vienna.<\/span><\/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 June (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;\">4 June (Sunday): National Dialogue.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:400;\">6 June (Tuesday): National Dialogue.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight: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 style=\"font-weight:400;\">8 June (Thursday): National Dialogue.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span>10 June (Saturday): Thanaweya Amma examinations <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/moe.gov.eg\/what-s-on\/news\/dates-for-the-exams\/\" style=\"\">begin<\/a><\/span><span style=\"font-weight:400;\">.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span>12 June - 15 July (Monday-Saturday): <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/www.facebook.com\/EgyptianCabinet\/posts\/pfbid0MomhExv4yWhogyCoY77i4QPaocEt1zS2uR4BR6pjLQZ8rw8mG5AcPjKXZNfCbv5Rl\" style=\"\">Thanaweya Amma exams<\/a><\/span><span style=\"font-weight:400;\">.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:400;\">13-14 June (Tuesday-Wednesday): Federal Reserve interest rate meeting.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span>19-20 June (Monday-Tuesday): The <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/www.facebook.com\/EgyptianCabinet\/posts\/pfbid02CGDhTGDSXLWXh385bFqBYLAz3Ls4XPgr2ULByxjv4rZiAJCdh7s7UfsKH7c1FwLil\" style=\"\">forum<\/a><\/span><span style=\"font-weight:400;\"> for insolvency reforms and corporate restructuring in the Middle East and North Africa.<\/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): <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/www.egyptinfrastructureexpo.com\/\" style=\"\">Egypt Infrastructure and Water Expo<\/a><\/span><span style=\"font-weight:400;\">, 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>19-21 June (Monday-Wednesday): <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/www.thebig5constructegypt.com\/\" style=\"\">Big 5 Construct<\/a><\/span><span style=\"font-weight:400;\">, 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;\">15 July (Saturday): 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 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>15 September (Friday): Deadline for FX bureaus to comply with <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/5b6f9aa4-8ee9-4804-bc43-8e40fac6213c\" style=\"\">new capital requirements<\/a><\/span><span>.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight: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>10-11 December (Sunday-Monday): <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/www.eglobexpo.com\/\" style=\"\">eGlobe Expo<\/a><\/span><span>, 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 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>3Q 2023: E-Finance <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/bit.ly\/3MhzDCI\" style=\"\">to launch in Saudi Arabia<\/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;\">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 style=\"font-weight:400;\">(xxBE) 2024: Standard Chartered Bank to open a branch in Egypt.<\/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":"<p>\u2018Entertainment tax,\u2019 higher development fees, duties given initial approval yesterday<\/p>\n","protected":false},"featured_media":587521,"menu_order":0,"template":"","categories":[],"tags":[],"class_list":["post-587520","issue","type-issue","status-publish","has-post-thumbnail","hentry","wpautop","entry"],"acf":{"mongo_id":"70c1b2d7-7a9c-4d86-bfaf-ca0df0b0028a","teaser":"\u2018Entertainment tax,\u2019 higher development fees, duties given initial approval yesterday","photo_url":"https:\/\/ent.news\/2023\/5\/1548.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>MPs to discuss income tax changes today - EnterpriseAM Egypt<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/enterpriseam.com\/egypt\/issues\/mps-to-discuss-income-tax-changes-today\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta 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