{"id":603851,"date":"2023-08-22T00:00:00","date_gmt":"2023-08-22T00:00:00","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/?post_type=issue&#038;p=603851"},"modified":"2025-12-16T23:31:35","modified_gmt":"2025-12-16T23:31:35","slug":"privatization-continues-to-shape-the-news-agenda","status":"publish","type":"issue","link":"https:\/\/enterpriseam.com\/egypt\/issues\/privatization-continues-to-shape-the-news-agenda\/","title":{"rendered":"Privatization continues to shape the news agenda"},"content":{"rendered":"<section id=\"603853\" 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=\"603853\">\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\/08\/22\/brics-summit-starts-today\/\">\r\n                            Brics summit starts today                        <\/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\/08\/22\/brics-summit-starts-today\/\" target=\"_blank\">\n                    Open in new tab                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/new-tab.svg\" alt=\"\"> -->\n    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data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2023\/8\/1010.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2023\/8\/1010.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-603853\" class=\"content-area-description single-story post-603853 post type-post status-publish format-standard has-post-thumbnail hentry category-what-were-tracking-today tag-brics tag-diplomacy tag-enterpriseam tag-politics tag-saudi-arabia 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\/8\/.f4aa1c87-ed67-47c4-81b4-ab6a213be0ec.mp3\"><\/audio><\/figure><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong> Good morning, ladies and gents: <\/strong> Privatization is continuing to lead the domestic news agenda this morning after the central bank yesterday rebuffed a report claiming three banks had started due diligence on United Bank, and rumors that Phillip Morris is interested in acquiring a stake in state-owned Eastern Company.<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong> MEANWHILE- Dominating the conversation in emerging markets across the world\u2026 <\/strong><\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><a id=\"wwtt1\"><\/a> <strong> Brics annual summit kicks off: <\/strong> The leaders of Brazil, Russia, India, China and South Africa will kick off the three-day annual Brics summit in Johannesburg today. Expect talk of de-dollarisation, investment and geopolitics to dominate proceedings as the countries look to expand the use of local currencies for trade and, perhaps, invite new countries into the five-member bloc.<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong> The big question: Is anyone else joining? <\/strong> There\u2019s plenty of speculation about whether the five countries will agree on whether to expand the organization and what sort of expansion that would be. China is reportedly pushing to turn the Brics into a geopolitical rival to the G7 (though there doesn\u2019t seem to be much appetite for confrontation with the West outside of Moscow) while as many as 40 countries have expressed interest in joining.<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong> Egypt is one of those countries: <\/strong> Egypt has <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/c29c4488-a681-4936-9fa2-e01186676bcc\" style=\"\" rel=\"noopener\">reportedly submitted a bid<\/a> to join the alliance, having earlier this year <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/d7b8e96b-ec30-4ce0-9344-4f250f112875\" style=\"\" rel=\"noopener\">became a member country<\/a> of the group\u2019s multilateral lender. President Abdel Fattah El Sisi is among the <a target=\"_blank\" href=\"https:\/\/english.news.cn\/20230708\/787c55d88a164fe0b7b038028e3da6d4\/c.html\" style=\"\" rel=\"noopener\">heads of state that have received invites<\/a> to Johannesburg, though the presidency is yet to confirm whether he plans to attend. <\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong> The one to watch: <\/strong> Inviting Saudi Arabia into the fold will be a \u201cpretty big deal\u201d given the kingdom\u2019s importance in the energy markets and close ties to the US, Jim O\u2019Neill \u2014 the former Goldman Sachs economist who first coined the Brics acronym \u2014 told <a target=\"_blank\" href=\"https:\/\/www.bloomberg.com\/news\/articles\/2023-08-21\/brics-expansion-gets-interesting-if-saudis-join-o-neill-says?srnd=premium-middle-east&amp;in_source=embedded-checkout-banner\" style=\"\" rel=\"noopener\">Bloomberg<\/a>. Saudi Arabia is one of the countries that have formally applied to join the organization, and reportedly has the backing of Russia and Brazil.<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong> For more commentary: <\/strong><a target=\"_blank\" href=\"https:\/\/www.reuters.com\/world\/brics-expansion-hopefuls-seek-rebalance-world-order-2023-08-21\/\" style=\"\" rel=\"noopener\">Reuters<\/a> | <a target=\"_blank\" href=\"https:\/\/www.nytimes.com\/2023\/08\/21\/world\/asia\/brics-summit-members.html\" style=\"\" rel=\"noopener\">New York Times<\/a> | <a target=\"_blank\" href=\"https:\/\/www.wsj.com\/world\/brics-nations-at-odds-over-adding-to-their-number-63d2dd06\" style=\"\" rel=\"noopener\">Wall Street Journal<\/a>.<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong> HAPPENING THIS WEEK- <\/strong><\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><a id=\"wwtt2\"><\/a> <strong> #2- Tansik results out Wednesday: <\/strong> Prospective students who applied for places in public universities during the second phase of tansik will know by Wednesday where they\u2019re heading, the Higher Education Ministry <a target=\"_blank\" href=\"https:\/\/bit.ly\/45FxHwd\" style=\"\" rel=\"noopener\">said<\/a> this week. The third and final phase will be announced after the results are announced.<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><a id=\"wwtt3\"><\/a> <strong> #3- The financial markets will have their eyes on Wyoming this week <\/strong> when global central bankers, economists and policymakers head to Jackson Hole for <a target=\"_blank\" href=\"https:\/\/www.kansascityfed.org\/research\/jackson-hole-economic-symposium\/\" style=\"\" rel=\"noopener\">an annual meeting of central bank officials<\/a>. US Federal Reserve Chairman Jerome Powell\u2019s speech will be the headline event as investors try to gauge where interest rates are heading in the coming months. The event runs Thursday through Saturday. <\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong> The sell-off in the US bond market is <\/strong><strong> continuing ahead of the meeting: <\/strong> Yields on US government debt hit 16-year highs yesterday as investors continued to exit bonds on fears that interest rates will remain high for longer than expected. The rate on the 10-year note climbed as much as 0.1 percentage points to 4.35% during trading yesterday, the highest level since November 2007.<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong> FROM THE RUMOR MILL- <\/strong><\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><a id=\"wwtt4\"><\/a> <strong> A suitor for Blom Egypt Investments? <\/strong> An article published by <a target=\"_blank\" href=\"https:\/\/bit.ly\/3snln5q\" style=\"\" rel=\"noopener\">Al Shorouk<\/a> on Saturday claimed that the Financial Regulatory Authority (FRA) has given the all-clear to <a target=\"_blank\" href=\"https:\/\/www.cf-holding.com\/\" style=\"\" rel=\"noopener\">Cairo Financial Holding<\/a>(CFH) to fully acquire Blom Egypt Investments, a subsidiary of Blom Bank Egypt, the former Lebanese lender that was <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/18ee9da0-ccc5-4933-bb46-288fc06458da\" style=\"\" rel=\"noopener\">acquired by Bank ABC<\/a> in 2021. We were unable to reach the FRA, CFH or Bank ABC for comment on the report, which cited \u201cinformed sources\u201d.<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong> What we know: <\/strong> Bank ABC is looking to <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/c572018f-511d-4a23-8b29-0c64b3273750\" style=\"\" rel=\"noopener\">sell down its entire 49% stake<\/a> in Blom Egypt Investments. Blom Securities Trading Company \u2014 which owns the remaining 51% of the firm \u2014 also wants to exit.<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong> Who\u2019s NOT managing the share sale: <\/strong> Contrary to what was reported by Al Shorouk, Enterprise understands that CI Capital is not working on the transaction.<\/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 target=\"_blank\" href=\"egypt\/en\/user\/NewsLetters\" type=\"button \" class=\"btn-green px-3 d-flex align-items-center\" rel=\"noopener\">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\"><strong> THE BIG STORIES ABROAD- <\/strong><\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong> Trump is turning himself in: <\/strong> Former president (and current frontrunner for the Republican 2024 nomination) Donald Trump will turn himself in to authorities in Georgia on Thursday to <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/fd316b1b-4da5-4a62-ba8f-fb18d26d9c6e\" style=\"\" rel=\"noopener\">face charges<\/a> that allege he attempted to overturn his loss in the 2020 election. The move will ensure that Trump will continue to dominate the news cycle after Wednesday night\u2019s Republican presidential debate, which the former president has refused to attend. Instead, an exclusive interview with Tucker Carlson will air on Twitter X at the same time of the debate. (<a target=\"_blank\" href=\"https:\/\/apnews.com\/article\/trump-bond-georgia-election-indictment-79dbb26a14b5a4ccfc1472d6d3eacd2b\" style=\"\" rel=\"noopener\">Associated Press<\/a> | <a target=\"_blank\" href=\"https:\/\/www.reuters.com\/legal\/trump-plans-turn-himself-thursday-over-georgia-election-case-cnn-2023-08-21\/\" style=\"\" rel=\"noopener\">Reuters<\/a> | <a target=\"_blank\" href=\"https:\/\/www.ft.com\/content\/c9ae8ce4-e281-43ba-a262-9ef8949e6172\" style=\"\" rel=\"noopener\">Financial Times<\/a> | <a target=\"_blank\" href=\"https:\/\/www.nytimes.com\/2023\/08\/21\/us\/trump-bail-georgia-election-case.html\" style=\"\" rel=\"noopener\">New York Times<\/a> | <a target=\"_blank\" href=\"https:\/\/www.washingtonpost.com\/national-security\/2023\/08\/21\/trump-rhetoric-indictments-threats\/\" style=\"\" rel=\"noopener\">Washington Post<\/a> | <a target=\"_blank\" href=\"https:\/\/www.wsj.com\/business\/media\/donald-trump-tucker-carlson-x-twitter-gop-debate-15a14ab5\" style=\"\" rel=\"noopener\">Wall Street Journal<\/a>)<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong> The big story in the global business press? <\/strong>UK-based semiconductor giant Arm Holdings just filed for its US IPO. We have more in Planet Finance, below.<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong> Ukraine nears lifeline for grain exports: <\/strong>Ukraine is in talks with global insurers to cover vessels transporting grain from its Black Sea ports, a step which would help the country protect its exports following Russia\u2019s suspension of the grain pact last month, the <a target=\"_blank\" href=\"https:\/\/www.ft.com\/content\/6b9996cb-44a5-4074-b226-6176cf65cc2f\" style=\"\" rel=\"noopener\">Financial Times<\/a> reports.<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><a href=\"https:\/\/finance.enterprise.news\/\" target=\"_blank\" rel=\"noopener\"><img data-recalc-dims=\"1\" decoding=\"async\" src=\"https:\/\/i0.wp.com\/climate.enterprise.press\/wp-content\/uploads\/2023\/08\/Finance-Forum-1920px.jpg\"><\/a> <\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong> CHECK OUT OUR AGENDA- <\/strong><\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong> The Enterprise Finance Forum is taking place on 18-19 September at <\/strong><strong> the St. Regis Hotel in Cairo. <\/strong> This flagship forum is the latest in our must-attend series of invitation-only, C-suite-level gatherings that allow senior members of our community to openly and frankly discuss critical issues in key sectors of the economy. <\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong> This is our first two-day event<\/strong>,which should give us plenty of time to dive into the nitty gritty of this industry we love. Our panels will see CEOs, bankers, investors and founders gather to discuss the future and trends shaping banking, finance, fintech and NBFS. <\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong> Our full agenda will be out at month\u2019s end. Among the topics we\u2019ll be discussing: <\/strong><\/p><ul>\n<li><strong> Looking into the crystal ball: <\/strong> Top industry CEOs will join us on stage to answer tough questions on where we are as an industry, the forces that will shape all of our businesses going forward, and their views on dealflow in the year ahead.<\/li>\n<\/ul><ul>\n<li><strong> Surviving nuclear winter: <\/strong> We discuss how private equity and venture capital players are tackling challenges including fundraising and deployment in an environment in which it\u2019s awfully difficult to price your local asset in USD terms.<\/li>\n<li><strong> The robots are coming: <\/strong> We explore what the coming AI and big data means for the industry in our part of the world and what can bankers, NBFI, and fintech players do to capitalize on them.<\/li>\n<li><strong> What do you do when nobody wants to be a banker <\/strong> \u2014 and when those who are already (investment or commercial) bankers are either (a) dreaming of doing their own startup or (b) moving to Dubai (or, increasingly, Riyadh)? We go deep into the weeds with industry leaders on how they\u2019re building talent for tomorrow.<\/li>\n<li><strong> NBFIs are a bubble. Prove me wrong: <\/strong> We chart the explosive rise of NBFIs and ask whether the industry is ready for a wave of consolidation. We\u2019ll dive into whether consumer finance is starting to mature as a segment \u2014 and ask which sector is next.<\/li>\n<li><strong> Handicapping the winners and losers in fintech in 2024: <\/strong> We dive deep into which categories are getting traction, where the untapped opportunities are, what business they would start today if they could, and what we can expect of the sector in the year ahead.<\/li>\n<li><strong> What\u2019s a bank, anyway? <\/strong>Wherein we talk challenger and neobanks with the players looking to shake up the brick-and-mortar industry. <\/li>\n<\/ul><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong> ** NEW: MORE NETWORKING TIME- <\/strong> Our agenda includes expanded networking time, including an expanded coffee break and a post-event networking room for you to interact with your peers and speak one-on-one with the team at Enterprise. <\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong> STAY TUNED for more detail <\/strong>about our exciting agenda in the weeks to come.<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong><a target=\"_blank\" href=\"https:\/\/finance.enterprise.news\/\" style=\"\" rel=\"noopener\">TAP OR CLICK HERE<\/a><\/strong> if you want to express interest in attending. We\u2019ll be sending out the first batch of invitations soon. <\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong> Do you want to become a commercial partner? <\/strong> Ping a note to <a target=\"_blank\" href=\"mailto:mtaalab@inktankir.com\" style=\"\" rel=\"noopener\">Moustafa Taalab, our head of commercial<\/a>.<\/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\"><strong> LISTEN TO OUR PODCAST- <\/strong><\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong> MISSED OUR PREVIOUS FORUMS? <\/strong><strong><a target=\"_blank\" href=\"https:\/\/podcasts.apple.com\/eg\/podcast\/the-enterprise-podcast\/id1617987136\" style=\"\" rel=\"noopener\">The Enterprise<\/a><\/strong><strong><a target=\"_blank\" href=\"https:\/\/podcasts.apple.com\/eg\/podcast\/the-enterprise-podcast\/id1617987136\" style=\"\" rel=\"noopener\">Podcast has you covered<\/a><\/strong><strong> : <\/strong> The Enterprise Podcast\u2019s forum series has been bringing you audio recordings of what was said on stage at the Enterprise Exports and FDI Forum and the Enterprise Climate Forum. <\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong> WANT TO LISTEN? Head to: <\/strong><a target=\"_blank\" href=\"https:\/\/podcasts.apple.com\/eg\/podcast\/climate-is-the-biggest-business-and\/id1617987136?i=1000624977478\" style=\"\" rel=\"noopener\">Apple Podcast<\/a> | <a target=\"_blank\" href=\"https:\/\/open.spotify.com\/episode\/42Ds85Mp5AqBh7ZR5BDbvw?si=kS_kQimDQSGBtVqSyr1P7Q&amp;nd=1\" style=\"\" rel=\"noopener\">Spotify<\/a> | <a target=\"_blank\" href=\"https:\/\/podcasts.google.com\/feed\/aHR0cHM6Ly93d3cub21ueWNvbnRlbnQuY29tL2QvcGxheWxpc3QvNWE1NmQ3YzMtZjI4MS00NTU3LThlMzEtYWFjODAxN2NjZjA2LzY4NmNmYTU5LTAwOTMtNDEyMS1hMTRjLWFlNmYwMDk3ZjEyMi81NDI0MGE5Ni04YWY5LTRkZGQtODExNi1hZTZmMDA5OTgxMzYvcG9kY2FzdC5yc3M\/episode\/YzU0MzcwMjQtNDVhMi00MDNmLWI5ZDYtYjA2MzAxMGM2ZTQ4?sa=X&amp;ved=0CAUQkfYCahcKEwiwoNjonumAAxUAAAAAHQAAAAAQCg\" style=\"\" rel=\"noopener\">Google Podcast<\/a> | <a target=\"_blank\" href=\"https:\/\/play.anghami.com\/episode\/1122203900\" style=\"\" rel=\"noopener\">Anghami<\/a>.<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong> IN THIS WEEK\u2019S EPISODE- <\/strong> In our second panel from the Enterprise Climate Forum, We dive deep into what the business leaders in the climate industry in Egypt and the region have to say about how the private sector is adopting greentech, where they see the opportunities and what they\u2019d like policymakers to do to encourage further participation. We were joined by <strong> Amr Allam, <\/strong>co-CEO of Hassan Allam Holding, <strong> Mohamed Ismail Mansour, <\/strong>CEO and co-founder of Infinity, and <strong> Sherif El Kholy, <\/strong> longtime partner and head of MENA private equity at Actis. <\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong> CIRCLE YOUR CALENDAR- <\/strong><\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong><a target=\"_blank\" href=\"https:\/\/enterprise.press\/am-edition\/#calendar\" style=\"\" rel=\"noopener\">Check out our full calendar on the web<\/a><\/strong> for a comprehensive listing of upcoming news events, national holidays and news triggers.<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><img data-recalc-dims=\"1\" decoding=\"async\" src=\"https:\/\/i0.wp.com\/enterprise.press\/wp-content\/uploads\/2021\/03\/INFINITY-Top-banner-EN-1600x675-v2-02.png\"><\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong> *** It\u2019s Going Green day \u2014 your weekly briefing of all things green in Egypt: <\/strong> Enterprise\u2019s green economy vertical focuses each Tuesday on the business of renewable energy and sustainable practices in Egypt, everything from solar and wind energy through to water, waste management, sustainable building practices and how you can make your business greener, whatever the sector.<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong> In today\u2019s issue: How far has global climate finance come since COP27? <\/strong> With exactly 100 days to go until the COP28 global climate summit in the UAE, we\u2019re taking a look at what\u2019s changed in the world of climate finance since the last COP summit.<\/p>\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/brics\/\">BRICS<\/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\/politics\/\">politics<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/saudi-arabia\/\">Saudi Arabia<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/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=\"603855 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=\"603855\">\r\n            \r\n            <div class=\"story__body\">\r\n\r\n                <a href=\"https:\/\/enterpriseam.com\/egypt\/2023\/08\/22\/603855\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-603855\" class=\"content-area-description single-story post-603855 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.solasifestival.com\/\" target=\"_blank\" rel=\"noopener\"><img data-recalc-dims=\"1\" decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2023\/8\/596.jpg?ssl=1\"><\/a><\/span><\/p>\n<div class=\"grouped-tags\">\n<p><span style=\"\">Solasi Wellbeing Festival has been lovingly created by Yes Yoga and Osana Family Wellness <\/span><span style=\"font-weight:400;\">and takes place at 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&rsquo; 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 solasifestival.com 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=\"603856\" 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=\"603856\">\r\n            \r\n                <div class=\"issue-story-header text-center\">\r\n                    <div class=\"index-number\">2<\/div>\r\n\r\n                    <p class=\"f-graphik\">Privatization<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2023\/08\/22\/philip-morris-mulls-minority-stake-in-eastern-company-asharq-business\/\">\r\n                            Philip Morris mulls minority stake in Egypt\u2019s Eastern Company -Asharq Business                        <\/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\/08\/22\/philip-morris-mulls-minority-stake-in-eastern-company-asharq-business\/\" 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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No details were given about the exact size of the stake or the value of the offer on the table. However, one source is quoted as saying that the state is keen to ensure it maintains its controlling stake \u2014 as has been a common theme in the government\u2019s privatization talks so far. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong> Who owns what? <\/strong>As it currently stands, the state owns a 51% share of Eastern Company through its Chemical Industries Holding Company. South African investment company Allan Gray holds some 7.2%, while the employee shareholders\u2019 union owns 5.2%. The remaining shares are traded on the Egyptian Exchange. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong> Eastern Company already works closely with United: <\/strong>Eastern <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/0959c415-48e7-4770-a114-3aed25887651\" style=\"\" rel=\"noopener\">agreed to purchase<\/a> a 24% stake in United Tobacco for EGP 100 mn last year. The acquisition is part of the <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/cef56231-5a0a-4794-8d6a-78e88269eefc\" style=\"\" rel=\"noopener\">agreement<\/a> the Philip Morris subsidiary struck with Eastern Company to locally manufacture cigarettes, making United the country\u2019s second tobacco manufacturer. United Tobacco was the only company to bid in the tender after other companies complained that the conditions of the tender would establish a monopoly over the local market.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong> This isn\u2019t the first time we hear that gov\u2019t is looking to sell down its stake: <\/strong>A local media report <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/e1c36f2a-81e6-49ea-8136-75b1c214b00b\" style=\"\" rel=\"noopener\">in June<\/a> said an Emirati state institution was interested in snapping up a 25-30% stake in Eastern Company from the state before the end of that month, though we haven\u2019t heard any more on that transaction since. Eastern Company is not on the list of the <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/a94808c5-7a0c-4027-a786-804f2dc35954\" style=\"\" rel=\"noopener\">32+ companies<\/a> the government has earmarked for asset sales under its privatization program. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong> Market reax: <\/strong>Shares in Eastern Company rose 1.4% to close at EGP 18.25 on Monday. <\/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\/eastern-company\/\">Eastern Company<\/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\/philip-morris\/\">Philip Morris<\/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\/united-tobacco\/\">UNited Tobacco<\/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=\"603858 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=\"603858\">\r\n            \r\n            <div class=\"story__body\">\r\n\r\n                <a href=\"https:\/\/enterpriseam.com\/egypt\/2023\/08\/22\/603858\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-603858\" class=\"content-area-description single-story post-603858 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:\/\/s3.amazonaws.com\/resources.inktankir.com\/MACRO\/MACRO-1H23-Earnings-Release-E-Final.pdf\" target=\"_blank\" rel=\"noopener\"><img data-recalc-dims=\"1\" decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/ads\/imgs\/24.jpg?ssl=1\"><\/a><\/span><\/p>\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"603859\" 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=\"603859\">\r\n            \r\n                <div class=\"issue-story-header text-center\">\r\n                    <div class=\"index-number\">3<\/div>\r\n\r\n                    <p class=\"f-graphik\">Privatization<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2023\/08\/22\/due-diligence-on-united-bank-hasnt-started-yet-says-cbe\/\">\r\n                            Egypt\u2019s central bank denies report on United Bank sale                        <\/a>\r\n                    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data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"981.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2023\/8\/981.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2023\/8\/981.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-603859\" class=\"content-area-description single-story post-603859 post type-post status-publish format-standard has-post-thumbnail hentry category-privatization-watch tag-banking tag-central-bank-of-egypt tag-credit-agricole tag-enterpriseam tag-ma-watch tag-mashreq-bank tag-national-bank-of-kuwait tag-privatization-watch tag-state-privatization-program tag-united-bank 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\/8\/.5c8e9bb2-01b0-477e-8e4f-f5d17110e9e8.mp3\"><\/audio><\/figure>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"> <strong> No due diligence on United Bank just yet: <\/strong> Investors interested in acquiring stakes in United Bank will begin due diligence by the end of September, the Central Bank of Egypt (CBE) said in <a target=\"_blank\" href=\"https:\/\/ent.news\/2023\/8\/977.pdf\" style=\"\" rel=\"noopener\">a<\/a> <a target=\"_blank\" href=\"https:\/\/ent.news\/2023\/8\/977.pdf\" style=\"\" rel=\"noopener\">statement<\/a> <a target=\"_blank\" href=\"https:\/\/ent.news\/2023\/8\/977.pdf\" style=\"\" rel=\"noopener\">(pdf)<\/a>, denying a press report that claimed three banks had already begun the process.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong> ICYMI- <\/strong>Asharq Business <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/7a248ffa-5a1b-4ef5-bfac-5250146e9cc2\" style=\"\" rel=\"noopener\">reported<\/a> on Sunday that the local units of Mashreq, Cr\u00e9dit Agricole, and the National Bank of Kuwait have begun due diligence on the CBE-owned lender with a view to potentially acquire a stake. Multiple sources we reached out to declined to comment on the report.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong> A nay from <\/strong><strong> Cr\u00e9dit Agricole: <\/strong> The local unit of the French bank also denied the report yesterday, clarifying that it has not begun due diligence in an <a target=\"_blank\" href=\"https:\/\/ent.news\/2023\/8\/967.pdf\" style=\"\" rel=\"noopener\">EGX<\/a> <a target=\"_blank\" href=\"https:\/\/ent.news\/2023\/8\/967.pdf\" style=\"\" rel=\"noopener\">disclosure<\/a> <a target=\"_blank\" href=\"https:\/\/ent.news\/2023\/8\/967.pdf\" style=\"\" rel=\"noopener\">(pdf)<\/a> yesterday.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong> In due course: <\/strong>\u201cThe sale process is proceeding according to a predetermined schedule\u201d and the CBE will \u201cprovide updates on developments in the sale process in a timely manner,\u201d it said.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong> International suitors are in the running: <\/strong> A number of international financial institutions are interested in acquiring shares in the lender, the central bank said, without providing further information.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong> Remember: <\/strong>United Bank \u2014 in which the CBE owns a 99.99% stake \u2014 is in the lineup of 32 state companies and assets that were earmarked for <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/a94808c5-7a0c-4027-a786-804f2dc35954\" style=\"\" rel=\"noopener\">privatization<\/a> in February.<\/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\/banking\/\">banking<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/central-bank-of-egypt\/\">Central Bank of Egypt<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/credit-agricole\/\">Credit Agricole<\/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\/mashreq-bank\/\">Mashreq Bank<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/national-bank-of-kuwait\/\">National Bank of Kuwait<\/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\/state-privatization-program\/\">state privatization program<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/united-bank\/\">United Bank<\/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=\"603861\" 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=\"603861\">\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\">REGULATION WATCH<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2023\/08\/22\/corporate-sukuk-issuances-made-easy\/\">\r\n                            Egypt\u2019s financial regulator moves to boost local sukuk market                        <\/a>\r\n                    <\/h3>\r\n\r\n                    \r\n\t\t\t\t\t\n<div class=\"cta\">\n    <div class=\"cta__btn share-dropdown-cta dropdown-toggle-btn\" style=\"position:relative\">\n        <img decoding=\"async\" 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          <a href=\"https:\/\/enterpriseam.com\/egypt\/2023\/08\/22\/corporate-sukuk-issuances-made-easy\/\">\r\n                    <div class=\"photo photo--above\">\r\n                        <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2023\/8\/1012.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"603862\" data-permalink=\"https:\/\/enterpriseam.com\/egypt\/2023\/08\/22\/corporate-sukuk-issuances-made-easy\/1012-jpg\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2023\/8\/1012.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"1012.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2023\/8\/1012.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2023\/8\/1012.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-603861\" class=\"content-area-description single-story post-603861 post type-post status-publish format-standard has-post-thumbnail hentry category-regulation-watch tag-capital-markets tag-debt-watch tag-enterpriseam tag-financial-regulatory-authority tag-regulation-watch tag-sukuk 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\/8\/.58ae629b-75a2-44fb-acfe-1fc58bd14e75.mp3\"><\/audio><\/figure>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"> <strong> Sukuk issuances just got easier: <\/strong>Companies will now be able to sell sukuk without first acquiring a credit rating after the Financial Regulatory Authority (FRA) waived the requirement, the regulator said in a <a target=\"_blank\" href=\"https:\/\/ent.news\/2023\/8\/958.pdf\" style=\"\" rel=\"noopener\">statement (pdf)<\/a> yesterday. The move aims to boost the local sukuk market by making it less expensive for firms to take issuances to market, and comes after Prime Minister Moustafa Madbouly greenlit amendments to the executive regulations to the Capital Market Law.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong> Planning a sukuk program? You only need to ask once. <\/strong>Under the amendments, companies will only require a single approval before starting a program of multiple sukuk issuances, according to the statement. The program needs to wrap up within three years of the FRA\u2019s approval or a set time period specified by the regulator, whichever is shorter. Companies also must publish a disclosure containing information about the issuance and the investment risks before moving ahead with the sale.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong> The local market could use a boost: <\/strong> Since Talaat Moustafa Group <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/196425a4-a067-4a20-9e61-692629ec1745\" style=\"\" rel=\"noopener\">debuted corporate sukuk<\/a> in Egypt in 2020, companies have raised some EGP 12.9 bn from selling the shariah-compliant securities, according to data tracked by Enterprise. This is dwarfed by the local securitization market, which has seen firms raise EGP 127 bn over the same period. No corporate sukuk issuances have gone to market so far in 2023.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong> Banks are lining up to manage issuances: <\/strong> The regulator has given initial approval for Abu Dhabi Islamic Bank\u2019s Abu Dhabi Capital and the National Bank of Egypt to manage sukuk issuances, <a target=\"_blank\" href=\"https:\/\/www.dailynewsegypt.com\/2023\/08\/20\/fra-initially-approves-abu-dhabi-capital-nbes-requests-to-obtain-sukuk-issuer-licence\/\" style=\"\" rel=\"noopener\">Daily News Egypt<\/a> reported yesterday, citing sources.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong> Corporate bonds next? <\/strong><a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/7270639a-278f-4c1c-9f11-4bde8b4c147b\" style=\"\" rel=\"noopener\">The FRA said<\/a> earlier this year that it is also looking to allow companies to issue corporate bonds without a credit rating.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong> ALSO- Sustainable funds + expanded ETFs. <\/strong> The regulatory amendments open the door for establishing sustainable development funds that will invest in green and other ESG projects, as well as an expansion of exchange-traded funds. The statement didn\u2019t provide further information on the ETFs or details on the requirements for sustainable funds.<\/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\/capital-markets\/\">capital markets<\/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\/financial-regulatory-authority\/\">Financial Regulatory Authority<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/regulation-watch\/\">regulation watch<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/sukuk\/\">sukuk<\/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=\"603863\" 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=\"603863\">\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\">A MESSAGE FROM HSBC<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2023\/08\/22\/the-cop28-countdown-continues-this-is-the-middle-easts-time-to-shine\/\">\r\n                            The COP28 countdown continues \u2013 this is the Middle East\u2019s time to shine                        <\/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\/08\/22\/the-cop28-countdown-continues-this-is-the-middle-easts-time-to-shine\/\" 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 UAE is, of course, no stranger to welcoming events that resonate around the world.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\">As an investor, <strong> the UAE has already committed more than USD 50 bn in 70 countries <\/strong> to create 11 gigawatts of renewable energy capacity. With plans to invest USD 50bn more in the coming decade, it signals clearly that large-scale, cross-border investments are key to economic diversification and decarbonisation.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\">As the leading international bank in the Middle East with an ambitious net zero agenda, <strong> HSBC is focused on channeling finance and investment to where it can have the greatest impact<\/strong>.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\">With our help, carbon-intensive industries can invest and create the green business models of the future, which is why, across our global business, <strong> we aim to facilitate USD 750 bn to USD 1 tn of sustainable finance and investment by 2030 <\/strong> to support our customers in their transition plans. We had delivered USD 210 bn of that total by the end of last year.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong> We have made a USD 100 mn investment in the Breakthrough Energy Catalyst <\/strong> that funds green technologies in four key areas: direct air capture of carbon, the development of clean hydrogen, long duration energy storage, and sustainable aviation fuel.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\">We are partners in Pentagreen, a blended finance platform partnering with Singapore\u2019s Temasek to accelerate sustainable infrastructure project funding, aiming to build a project pipeline growing an initial USD 150 mn of funding to more than USD 1 bn of loans within five years.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\">We are the leading bank on ESG products across this region, participating in 30 green, social, sustainability and sustainability-linked bond deals. These included the first sovereign green \/ social offering from the GCC region, the USD 1 bn green bond for the Emirate of Sharjah, and the USD 1 bn sustainable sukuk for Dubai Islamic Bank, the world\u2019s second largest Islamic bank, earlier this year.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\">A key role for us is overcoming challenges and opportunities in scaling up climate finance. We connect the markets in this region with new businesses and new technologies, as well as build capacity for each country to accelerate their energy transition.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\">This is a huge challenge, manifesting itself in national, regional and global economic policy, but we will bring our international expertise to our clients and partners, and help COP28 deliver on its vital responsibilities to society.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong> The fact our region has been invited to host two successive COPs <\/strong> \u2014 COP27 in Egypt and now COP28 in the UAE \u2014 <strong> is both a recognition of the contribution we have made to tackling global climate change<\/strong>, and also a call to action for the Middle East to show leadership for the benefit of our world.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong> I am confident that our region can continue to rise to the occasion <\/strong> as we prepare to welcome the world again in 100 days\u2019 time.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\">Mohamed Al Marzooqi is the CEO of HSBC UAE.<\/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\/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\/cop28\/\">COP28<\/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                    <\/div>\n    <\/div>\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"603865\" 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=\"603865\">\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\">Manufacturing<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2023\/08\/22\/hydrogen-egypt-wants-to-work-with-chinas-peric-to-locally-produce-electrolysers\/\">\r\n                            China partnership could see electrolysers produced 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\/08\/22\/hydrogen-egypt-wants-to-work-with-chinas-peric-to-locally-produce-electrolysers\/\" target=\"_blank\">\n                    Open in new tab                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/new-tab.svg\" 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href=\"https:\/\/x.com\/intent\/post?text=Hydrogen Egypt wants to work with China\u2019s Peric to locally-produce electrolysers&url=https:\/\/enterpriseam.com\/egypt\/2023\/08\/22\/hydrogen-egypt-wants-to-work-with-chinas-peric-to-locally-produce-electrolysers\/\">\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\/08\/22\/hydrogen-egypt-wants-to-work-with-chinas-peric-to-locally-produce-electrolysers\/&title=Hydrogen Egypt wants to work with China\u2019s Peric to locally-produce electrolysers\">\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=Hydrogen+Egypt+wants+to+work+with+China%E2%80%99s+Peric+to+locally-produce+electrolysers+https%3A%2F%2Fenterpriseam.com%2Fegypt%2F2023%2F08%2F22%2Fhydrogen-egypt-wants-to-work-with-chinas-peric-to-locally-produce-electrolysers%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\/08\/22\/hydrogen-egypt-wants-to-work-with-chinas-peric-to-locally-produce-electrolysers\/\">\r\n                    <div class=\"photo photo--above\">\r\n                        <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2023\/8\/994.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"603866\" data-permalink=\"https:\/\/enterpriseam.com\/egypt\/2023\/08\/22\/hydrogen-egypt-wants-to-work-with-chinas-peric-to-locally-produce-electrolysers\/994-jpg-7\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2023\/8\/994.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"994.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2023\/8\/994.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2023\/8\/994.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-603865\" class=\"content-area-description single-story post-603865 post type-post status-publish format-standard has-post-thumbnail hentry category-manufacturing tag-china-shipbuilding-industry-corporation tag-egypt-china-relations tag-energy tag-enterpriseam tag-green-hydrogen tag-hydrogen-egypt tag-manufacturing tag-peric-hydrogen-technologies tag-renewables 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\/8\/.4d6ff2ba-6d0e-44fe-8841-0e247668d253.mp3\"><\/audio><\/figure>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"> <strong> A fresh bid f <\/strong><strong> or locally-made electrolyzers in Egypt: <\/strong><a target=\"_blank\" href=\"https:\/\/www.hydrogenegypt.com\/\" style=\"\" rel=\"noopener\">Hydrogen Egypt<\/a> is partnering up with China\u2019s <a target=\"_blank\" href=\"https:\/\/english.peric718.com\/\" style=\"\" rel=\"noopener\">Peric Hydrogen Technologies<\/a> to explore the manufacturing and assembly of electrolyzers critical for green hydrogen production in Egypt, CEO Khaled Nageib (<a href=\"https:\/\/www.linkedin.com\/in\/khaled-nageib-034832219\/\" target=\"_blank\" rel=\"noopener\">Linkedin<\/a>) told Enterprise Climate. The technical cooperation \u2014 which is still in the \u201cfeasibility stage\u201d \u2014 will see parts of the electrolyzer components sourced locally, he said. However, Peric will be providing the core component for electrolyzers \u201cat the start,\u201d he said.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong> A \u201cMade in Egypt\u201d electrolyzer next year? <\/strong> The two sides plan to kick things off by manufacturing and assembling components in Egypt, before producing a locally-made electrolyser during the first half of 2024, Hamza said. Discussions about the project \u2014 including feasibility and raising capital \u2014 will take place when a Peric delegation visits Egypt in September, he said.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong> About Peric: <\/strong> The Hebei-headquartered company is a wholly-owned subsidiary of Purification Equipment Research Institute of the China Shipbuilding Industry Corporation, according to its <a target=\"_blank\" href=\"https:\/\/english.peric718.com\/about-us\/\" style=\"\" rel=\"noopener\">website<\/a>. It focuses on the research, design, and manufacturing of hydrogen generation systems.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong> The Chinese connection: <\/strong> We\u2019re expecting Energy China to soon sign a framework agreementto build a green hydrogen plant in the Suez Canal Economic Zone. The zone <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/dd3b1cd0-6bc7-490d-b0ca-2a381896d0a8\" style=\"\" rel=\"noopener\">said in May<\/a> that the company would put pen to paper within the coming two months, a date which came and went without any announcements from either side. The planned USD 7 bn plant will produce 1.2 mn tons of green ammonia and 210k tons of green hydrogen a year.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong> REMEMBER- <\/strong><strong> Egypt is seeing a green hydrogen bonanza: <\/strong> The government last year <a target=\"_blank\" href=\"https:\/\/enterprise.news\/climate\/en\/news\/story\/1f8d7402-6d05-4eae-b3b0-b5bb811be7ab\" style=\"\" rel=\"noopener\">sign<\/a> <a target=\"_blank\" href=\"https:\/\/enterprise.news\/climate\/en\/news\/story\/1f8d7402-6d05-4eae-b3b0-b5bb811be7ab\" style=\"\" rel=\"noopener\">ed<\/a> <a target=\"_blank\" href=\"https:\/\/enterprise.news\/climate\/en\/news\/story\/1f8d7402-6d05-4eae-b3b0-b5bb811be7ab\" style=\"\" rel=\"noopener\">framework agreements<\/a> with foreign companies for nine green hydrogen and ammonia plants. The facilities will collectively produce up to 7.6 mn tons of green ammonia and 2.7 mn tons of hydrogen a year. Egypt <a target=\"_blank\" href=\"https:\/\/enterprise.news\/climate\/en\/news\/story\/e9bb488d-340c-4d8e-a6cf-a17792457994\" style=\"\" rel=\"noopener\">also approved incentives in May<\/a> to boost the country\u2019s green hydrogen sector and attract much-needed FX inflows.<\/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\/china-shipbuilding-industry-corporation\/\">China Shipbuilding Industry Corporation<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/egypt-china-relations\/\">Egypt-China relations<\/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\/green-hydrogen\/\">green hydrogen<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/hydrogen-egypt\/\">Hydrogen Egypt<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/manufacturing\/\">Manufacturing<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/peric-hydrogen-technologies\/\">Peric Hydrogen Technologies<\/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                    <\/div>\n    <\/div>\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"603867\" 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=\"603867\">\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\">EARNINGS WATCH<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2023\/08\/22\/ci-capital-revenues-nearly-double-in-1h-2023\/\">\r\n                            CI Capital revenues nearly double in 1H 2023                        <\/a>\r\n                    <\/h3>\r\n\r\n                    \r\n\t\t\t\t\t\n<div class=\"cta\">\n    <div class=\"cta__btn share-dropdown-cta dropdown-toggle-btn\" style=\"position:relative\">\n        <img decoding=\"async\" src=\"https:\/\/ent.news\/internal\/408834.svg\" alt=\"\">\n        Share Story\n        <!-- Dropdown Menu -->\n        <ul class=\"share-menu\">\n            <li class=\"list-inline-item\">\n                <a href=\"https:\/\/enterpriseam.com\/egypt\/2023\/08\/22\/ci-capital-revenues-nearly-double-in-1h-2023\/\" target=\"_blank\">\n                    Open in new tab                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/new-tab.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a href=\"#\" target=\"_blank\" onclick=\"event.preventDefault(); navigator.clipboard.writeText('https:\/\/enterpriseam.com\/egypt\/2023\/08\/22\/ci-capital-revenues-nearly-double-in-1h-2023\/')\">\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\/08\/22\/ci-capital-revenues-nearly-double-in-1h-2023\/\">\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=CI Capital revenues nearly double in 1H 2023&url=https:\/\/enterpriseam.com\/egypt\/2023\/08\/22\/ci-capital-revenues-nearly-double-in-1h-2023\/\">\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\/08\/22\/ci-capital-revenues-nearly-double-in-1h-2023\/&title=CI Capital revenues nearly double in 1H 2023\">\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=CI+Capital+revenues+nearly+double+in+1H+2023+https%3A%2F%2Fenterpriseam.com%2Fegypt%2F2023%2F08%2F22%2Fci-capital-revenues-nearly-double-in-1h-2023%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\/08\/22\/ci-capital-revenues-nearly-double-in-1h-2023\/\">\r\n                    <div class=\"photo photo--above\">\r\n                        <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2023\/8\/1005.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"603868\" data-permalink=\"https:\/\/enterpriseam.com\/egypt\/2023\/08\/22\/ci-capital-revenues-nearly-double-in-1h-2023\/1005-jpg-5\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2023\/8\/1005.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"1005.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2023\/8\/1005.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2023\/8\/1005.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-603867\" class=\"content-area-description single-story post-603867 post type-post status-publish format-standard has-post-thumbnail hentry category-earnings-watch tag-banking tag-ci-capital tag-corplease tag-earnings-watch tag-enterpriseam tag-finance tag-non-banking-financial-services tag-reefy 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\/8\/.ac32705d-01df-409b-a6c0-df5e591c5da6.mp3\"><\/audio><\/figure>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong> CI Capital\u2019s revenues almost doubled y-o-y to EGP 3.1 bn in 1H 2023 <\/strong> on the back of strong growth across all of its business lines, it said in its <a target=\"_blank\" href=\"https:\/\/ent.news\/2023\/8\/1003.pdf\" style=\"\" rel=\"noopener\">earnings release (<\/a> <a target=\"_blank\" href=\"https:\/\/ent.news\/2023\/8\/1003.pdf\" style=\"\" rel=\"noopener\">pdf<\/a> <a target=\"_blank\" href=\"https:\/\/ent.news\/2023\/8\/1003.pdf\" style=\"\" rel=\"noopener\">)<\/a> yesterday. Net income after tax and minority interest rose 52% to EGP 517 mn during the six-month period, backed by 92% growth in revenues.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong> Loan book reaches new high: <\/strong> CI Capital\u2019s on-balance sheet financing portfolio reached a record EGP 20 bn during the January-June period, helping revenues at its leasing and mortgage lending businesses to more than double from 1H 2022. Revenues at Corplease rose 113% to EGP 1.76bn, accounting for more than 50% of the group\u2019s topline. Meanwhile, its mortgage lending platform recorded EGP 88 mn in revenues, up 138% y-o-y.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong> Investment bank reports strong revenues: <\/strong> The group\u2019s investment bank reported a 77% y-o-y increase in revenues to EGP 542 mn, with the bank advising on a number of key transactions. Its asset management arm quadrupled assets under management to EGP 55.9 bn during the period, driving a 296% surge in revenues to EGP 105 mn.<\/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\/banking\/\">banking<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/ci-capital\/\">CI Capital<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/corplease\/\">Corplease<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/earnings-watch\/\">earnings watch<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/finance\/\">Finance<\/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\/reefy\/\">Reefy<\/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=\"603869\" 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=\"603869\">\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\">Moves<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2023\/08\/22\/cib-appoints-jawaid-ahmed-mirza-as-non-executive-board-member\/\">\r\n                            CIB appoints Jawaid Ahmed Mirza as non-executive board member                        <\/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\/08\/22\/cib-appoints-jawaid-ahmed-mirza-as-non-executive-board-member\/\" 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\/08\/22\/cib-appoints-jawaid-ahmed-mirza-as-non-executive-board-member\/')\">\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\/08\/22\/cib-appoints-jawaid-ahmed-mirza-as-non-executive-board-member\/\">\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=CIB appoints Jawaid Ahmed Mirza as non-executive board member&url=https:\/\/enterpriseam.com\/egypt\/2023\/08\/22\/cib-appoints-jawaid-ahmed-mirza-as-non-executive-board-member\/\">\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\/08\/22\/cib-appoints-jawaid-ahmed-mirza-as-non-executive-board-member\/&title=CIB appoints Jawaid Ahmed Mirza as non-executive board member\">\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=CIB+appoints+Jawaid+Ahmed+Mirza+as+non-executive+board+member+https%3A%2F%2Fenterpriseam.com%2Fegypt%2F2023%2F08%2F22%2Fcib-appoints-jawaid-ahmed-mirza-as-non-executive-board-member%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\/08\/22\/cib-appoints-jawaid-ahmed-mirza-as-non-executive-board-member\/\">\r\n                    <div class=\"photo photo--above\">\r\n                        <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2023\/8\/998.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"603870\" data-permalink=\"https:\/\/enterpriseam.com\/egypt\/2023\/08\/22\/cib-appoints-jawaid-ahmed-mirza-as-non-executive-board-member\/998-jpg-3\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2023\/8\/998.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"998.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2023\/8\/998.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2023\/8\/998.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-603869\" class=\"content-area-description single-story post-603869 post type-post status-publish format-standard has-post-thumbnail hentry category-moves tag-banking tag-cib tag-enterpriseam tag-jawaid-ahmed-mirza tag-moves 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\/8\/.921f2278-4437-4646-86a6-6f2a00ae9353.mp3\"><\/audio><\/figure>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"> <strong> Jawaid Ahmed Mirza has returned to the CIB board: <\/strong> Jawaid Ahmed Mirza (<a target=\"_blank\" href=\"https:\/\/www.linkedin.com\/in\/jawaid-mirza-6aa7585\" style=\"\" rel=\"noopener\">LinkedIn<\/a>) will join the CIB board as a non-executive member after the central bank gave its approval to the appointment, the bank <a target=\"_blank\" href=\"https:\/\/www.cibeg.com\/en\/newsroom\/news\/commercial-international-bank-egypt-appoints-new-non-executive-director-to-the-board-of-directors\" style=\"\" rel=\"noopener\">said<\/a> Sunday. Mirza has more than 35 years of experience in the financial sector, and has previously held positions at Citi and Dutch lender ABN AMRO. He also currently serves on the boards of Eurobank Ergasias, the International Development and Relief Foundation, and Canadian food company AGT Foods & Ingredients.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong> Mirza knows CIB well: <\/strong> Mirza spent almost 12 years at the bank between 2008 and 2019, including a 6+ year stint serving on the board.<\/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\/banking\/\">banking<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/cib\/\">CIB<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/jawaid-ahmed-mirza\/\">Jawaid Ahmed Mirza<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/moves\/\">moves<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                    <\/div>\n    <\/div>\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"603871 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=\"603871\">\r\n            \r\n            <div class=\"story__body\">\r\n\r\n                <a href=\"https:\/\/enterpriseam.com\/egypt\/2023\/08\/22\/603871\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-603871\" class=\"content-area-description single-story post-603871 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:\/\/imagine.sodic.com\" target=\"_blank\" rel=\"noopener\"><img data-recalc-dims=\"1\" decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2023\/7\/927.jpg?ssl=1\"><\/a><\/span><\/p>\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"603872\" 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=\"603872\">\r\n            \r\n                <div class=\"issue-story-header text-center\">\r\n                    <div class=\"index-number\">9<\/div>\r\n\r\n                    <p class=\"f-graphik\">LAST NIGHT\u2019S TALK SHOWS<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2023\/08\/22\/the-summer-talk-show-slump-continues\/\">\r\n                            Damaged graveyards in Assiut + industrial development get airtime on slow night on the talk shows                        <\/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\/08\/22\/the-summer-talk-show-slump-continues\/\" 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\/08\/22\/the-summer-talk-show-slump-continues\/')\">\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\/08\/22\/the-summer-talk-show-slump-continues\/\">\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=The summer talk show slump continues&url=https:\/\/enterpriseam.com\/egypt\/2023\/08\/22\/the-summer-talk-show-slump-continues\/\">\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\/08\/22\/the-summer-talk-show-slump-continues\/&title=The summer talk show slump continues\">\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=The+summer+talk+show+slump+continues+https%3A%2F%2Fenterpriseam.com%2Fegypt%2F2023%2F08%2F22%2Fthe-summer-talk-show-slump-continues%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\/08\/22\/the-summer-talk-show-slump-continues\/\">\r\n                    <div class=\"photo photo--above\">\r\n                        <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2023\/8\/1009.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"603873\" data-permalink=\"https:\/\/enterpriseam.com\/egypt\/2023\/08\/22\/the-summer-talk-show-slump-continues\/1009-jpg\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2023\/8\/1009.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"1009.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2023\/8\/1009.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2023\/8\/1009.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-603872\" class=\"content-area-description single-story post-603872 post type-post status-publish format-standard has-post-thumbnail hentry category-last-nights-talk-shows tag-assiut tag-enterpriseam tag-industrial-development-authority tag-industry tag-last-nights-talk-shows wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<figure class=\"wp-block-audio mb-0\"><audio controls preload=\"metadata\" src=\"https:\/\/s3.us-east-1.amazonaws.com\/ent.news\/audio\/2023\/8\/.19ec3568-cca2-4f14-9c0b-cb63b7ed820a.mp3\"><\/audio><\/figure>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong> It was another slow evening on the airwaves yesterday: <\/strong> Assiut Governor Essam Saad was on Ala Mas\u2019ouleety (<a target=\"_blank\" href=\"https:\/\/www.youtube.com\/watch?v=KzbD3SQUlnc\" style=\"\" rel=\"noopener\">watch, runtime: 7:54<\/a>) to discuss the flooding of a graveyard in the governorate caused by the collapse of one of the cooling basins at the West Assiut power station. Angry residents have <a target=\"_blank\" href=\"https:\/\/www.shorouknews.com\/news\/view.aspx?cdate=20082023&id=77a7631e-f982-4d68-bdec-f38703382051\" style=\"\" rel=\"noopener\">criticized the response<\/a> by the local authority and called on it to provide compensation. Saad said that the situation was being handled effectively and that the governorate is willing to compensate those who have been affected by the flooding. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong> MEANWHILE- <\/strong>The head of the Industrial Development Authority Mohamed Abdel Karim said on Al Hayah Al Youm that the authority is preparing to launch the second phase of its national industrial development strategy (<a target=\"_blank\" href=\"https:\/\/www.youtube.com\/watch?v=CWGZbXPmAyY\" style=\"\" rel=\"noopener\">watch, runtime: 6:29<\/a>). Karim didn\u2019t provide details about the authority\u2019s plans. <\/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\/assiut\/\">Assiut<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/industrial-development-authority\/\">Industrial Development Authority<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/industry\/\">industry<\/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 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src=\"https:\/\/i0.wp.com\/ent.news\/internal\/27483.png?fit=300%2C300&#038;ssl=1\" alt=\"\">\r\n                    <\/a>\r\n                    <span>Powering with nature<\/span>\r\n                <\/div>\r\n            <\/div>\r\n            <\/div><\/div><\/div>\r\n        \r\n            <div class=\"wp-block-stackable-column stk-block-column stk-column stk-block stk-5zqgxao\" data-v=\"4\" data-block-id=\"5zqgxao\"><div class=\"stk-column-wrapper stk-block-column__content stk-container stk-5zqgxao-container stk--no-background stk--no-padding\"><div class=\"stk-block-content stk-inner-blocks stk-5zqgxao-inner-blocks\">\r\n            <div class=\"issue-sponsor-slide\">\r\n                <img data-recalc-dims=\"1\" decoding=\"async\" draggable=\"false\" src=\"https:\/\/i0.wp.com\/ent.news\/internal\/240926.jpg?ssl=1\">\r\n                <div class=\"overlay\"><\/div>\r\n                <div class=\"content\">\r\n                    <a draggable=\"false\" 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class=\"issue-section__content\">\n<div class=\"stories\">            <!-- Show divider before story section -->\r\n        <div \r\n            class=\"\r\n                story-section            \"\r\n            id=\"603875\">\r\n            \r\n                <div class=\"issue-story-header text-center\">\r\n                    <div class=\"index-number\">10<\/div>\r\n\r\n                    <p class=\"f-graphik\">Also on our Radar<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2023\/08\/22\/apache-to-invest-usd-1-4-bn-in-egypt-in-2024-plus-cairo-international-airport-terminal-4-another-gasc-wheat-tender-new-solar-tender\/\">\r\n                            Apache to invest USD 1.4 bn in Egypt in 2024. PLUS: Cairo International Airport Terminal 4, another GASC wheat tender + new solar tender                        <\/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\/08\/22\/apache-to-invest-usd-1-4-bn-in-egypt-in-2024-plus-cairo-international-airport-terminal-4-another-gasc-wheat-tender-new-solar-tender\/\" 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\/08\/22\/apache-to-invest-usd-1-4-bn-in-egypt-in-2024-plus-cairo-international-airport-terminal-4-another-gasc-wheat-tender-new-solar-tender\/')\">\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\/08\/22\/apache-to-invest-usd-1-4-bn-in-egypt-in-2024-plus-cairo-international-airport-terminal-4-another-gasc-wheat-tender-new-solar-tender\/\">\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=Apache to invest USD 1.4 bn in Egypt in 2024. PLUS: Cairo International Airport Terminal 4, another GASC wheat tender + new solar tender&url=https:\/\/enterpriseam.com\/egypt\/2023\/08\/22\/apache-to-invest-usd-1-4-bn-in-egypt-in-2024-plus-cairo-international-airport-terminal-4-another-gasc-wheat-tender-new-solar-tender\/\">\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\/08\/22\/apache-to-invest-usd-1-4-bn-in-egypt-in-2024-plus-cairo-international-airport-terminal-4-another-gasc-wheat-tender-new-solar-tender\/&title=Apache to invest USD 1.4 bn in Egypt in 2024. 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The company, Egypt\u2019s largest oil producer, is also interested in exploring for gas in the Mediterranean, the Oil Ministry <a target=\"_blank\" href=\"https:\/\/bit.ly\/45tjnXs\" style=\"\" rel=\"noopener\">said<\/a> separately. This came during meetings between the company\u2019s CEO John Christmann, Prime Minister Moustafa Madbouly and Oil Minister Tarek El Molla yesterday. <\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong> Remember: <\/strong>The company has a wider plan to spend <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/b5c99baf-cefd-4b4a-86c1-61b8486ce0fc\" style=\"\" rel=\"noopener\">USD 3.5 bn<\/a> in the Egyptian oil and gas sector by 2027. Christmann in May told El Molla that the company wants to <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/e43f6dc8-f379-4241-8a3e-e7e27d3ac60c\" style=\"\" rel=\"noopener\">obtain new concessions<\/a> in the Western Desert to drill more oil wells. <\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong> INFRASTRUCTURE- <\/strong><\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong> Cairo Int\u2019l airport gets a new terminal + a digital revamp: <\/strong>Cairo International Airport Company signed two MoUs yesterday with US companies to work on the construction of the fourth terminal at Cairo International Airport, the Civil Aviation Ministry said in a <a target=\"_blank\" href=\"https:\/\/bit.ly\/3ORnyFY\" style=\"\" rel=\"noopener\">statement<\/a>. Infrastructure consulting firm <a target=\"_blank\" href=\"https:\/\/aecom.com\/\" style=\"\" rel=\"noopener\">Aecom<\/a> and tech security company <a target=\"_blank\" href=\"https:\/\/pangiam.com\/\" style=\"\" rel=\"noopener\">Pangiam<\/a> will work on the new terminal while the second MoU was signed with Pangiam to conduct a feasibility study on upgrading the airport\u2019s digital systems.<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong> COMMODITIES- <\/strong><\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong> GASC wants more int\u2019l wheat: <\/strong> State grain buyer GASC has launched an international tender for an undisclosed amount of wheat for delivery on 5-20 October and 10 and \/or 15-30 November on a free-on-board basis, <a target=\"_blank\" href=\"https:\/\/www.nasdaq.com\/articles\/egypt-seeks-wheat-in-international-tender\" style=\"\" rel=\"noopener\">Reuters<\/a> reports. The <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/641511ec-c42a-4cf5-a975-49161d01b1f4\" style=\"\" rel=\"noopener\">International Islamic Trade Finance Corporation<\/a> is providing the finance. Interested traders need to submit their bids today.<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong> ENERGY- <\/strong><\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong> Gov\u2019t launches tender for five solar power plants on the north coast: <\/strong> The Egyptian Electricity Holding Company (EEHC) has launched a tender for the construction of five concentrated solar power (CSP) plants to power water desalination plants on the north coast, according to <a target=\"_blank\" href=\"https:\/\/ent.news\/2023\/8\/959.jpg\" style=\"\" rel=\"noopener\">an EEHC document (pdf)<\/a>. The plants are expected to require USD 270 mn of investment and will be established under a 25-year build-own-operate (BOO) contract. Bidders need to purchase tender documents at a cost of USD 500 by 30 August, and should submit their offers by 12 pm on 27 September.<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong> The specs: <\/strong> The power generated will be connected to the national electricity grid and purchased by the Electricity Ministry, <a target=\"_blank\" href=\"https:\/\/bit.ly\/44jMtHR\" style=\"\" rel=\"noopener\">Al Mal<\/a> reports, citing sources at the ministry. The plants will have a combined capacity of 250 MW and will help desalinate over 400k cubic meters of water per day.<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong> REAL ESTATE- <\/strong><\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong> P <\/strong><strong> rivate inve <\/strong><strong> stors eye Kafr El Sheikh development: <\/strong> A consortium of local, Gulf, and Chinese companies are in talks with the government\u2019s Urban Development Fund to invest in a large mixed-use residential and commercial <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/f8ab3d56-2671-40e8-88af-f49212f203b5\" style=\"\" rel=\"noopener\">development in Kafr El Sheikh<\/a>, <a target=\"_blank\" href=\"https:\/\/bit.ly\/3QVwLPQ\" style=\"\" rel=\"noopener\">Al Shorou<\/a> <a target=\"_blank\" href=\"https:\/\/bit.ly\/3QVwLPQ\" style=\"\" rel=\"noopener\">k<\/a> reports, citing Fund head Khaled Siddiq. The public-private partnership project could see investments worth up to EGP 54-55 bn, Siddiq said.<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong> The Fund is no longer pursuing bank financing <\/strong>and instead wants to focus on raising funds for its projects from the private sector, Siddiq is quoted as saying. Earlier plans to borrow EGP 53 bn stalled as the fund needs approval from the central bank to receive a guarantee from the Finance Ministry, <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/f8ab3d56-2671-40e8-88af-f49212f203b5\" style=\"\" rel=\"noopener\">Siddiq told Enterprise<\/a> in April. <\/p>\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/aecom\/\">Aecom<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\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\" 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src=\"https:\/\/i0.wp.com\/ent.news\/2023\/8\/1006.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"603878\" data-permalink=\"https:\/\/enterpriseam.com\/egypt\/2023\/08\/22\/arm-holding-files-for-blockbuster-ipo-on-nasdaq\/1006-jpg-2\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2023\/8\/1006.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"1006.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2023\/8\/1006.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2023\/8\/1006.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-603877\" class=\"content-area-description single-story post-603877 post type-post status-publish format-standard has-post-thumbnail hentry category-planet-finance tag-arm tag-china tag-energy tag-enterpriseam tag-financial-markets tag-global-economy tag-oil-and-gas tag-planet-finance tag-softbank wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<aside>\t\t\t<div\r\n\t\t\t\t\t\t\t\tclass=\"newspack-popup-container newspack-popup hidden  newspack-inline-popup  newspack-lightbox-no-border   \"\r\n\t\t\t\trole=\"button\"\r\n\t\t\t\ttabindex=\"0\"\r\n\t\t\t\tstyle=\"background-color:#FFFFFF;color:#000\"\r\n\t\t\t\tid=\"id_408150\"\r\n\t\t\t\tdata-segments=\"\"\r\n\t\t\t\tdata-frequency=\"0,0,0,month\"\r\n\t\t\t>\r\n\t\t\t\t\n<div class=\"wp-block-group has-light-gray-background-color has-background\" style=\"padding-top:0px;padding-right:0px;padding-bottom:0px;padding-left:0px\"><div class=\"wp-block-group__inner-container is-layout-constrained wp-container-core-group-is-layout-ef38739e wp-block-group-is-layout-constrained\">\n<div class=\"wp-block-group is-content-justification-center is-nowrap is-layout-flex wp-container-core-group-is-layout-94bc23d7 wp-block-group-is-layout-flex\"><div class=\"wp-block-image\">\n<figure class=\"aligncenter size-full\"><img decoding=\"async\" src=\"https:\/\/ent.news\/internal\/408151.svg\" alt=\"\" class=\"wp-image-408151\"\/><\/figure>\n<\/div><\/div>\n<\/div><\/div>\n\t\t\t<\/div>\r\n\t\t<\/aside>\n<figure class=\"wp-block-audio mb-0\"><audio controls preload=\"metadata\" src=\"https:\/\/s3.us-east-1.amazonaws.com\/ent.news\/audio\/2023\/8\/.165bad33-11a2-4ff9-9dca-2cc50d8692e3.mp3\"><\/audio><\/figure><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"> <strong> Can Arm reinvigorate the US IPO market? <\/strong>The business press is talking up the fortunes of the sluggish US IPO market after semiconductor giant Arm Holdings yesterday submitted its anticipated <a target=\"_blank\" href=\"https:\/\/www.sec.gov\/Archives\/edgar\/data\/1973239\/000119312523216983\/d393891df1.htm\" style=\"\" rel=\"noopener\">regulatory filing<\/a> for what is expected to be the biggest public share sale on Wall Street this year. The SoftBank-owned company\u2019s preliminary prospectus shows that it was valued at around USD 64 bn earlier this month, potentially making it one of the largest-ever tech listings in the US. <\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong> A snapshot: <\/strong> \u201c <a target=\"_blank\" href=\"https:\/\/www.barrons.com\/articles\/arm-holdings-ipo-stock-ticker-softbank-3f9b642b\" style=\"\" rel=\"noopener\">Big moment<\/a> \u201d, \u201c <a target=\"_blank\" href=\"https:\/\/www.bloomberg.com\/news\/articles\/2023-08-21\/arm-listing-set-to-be-turning-point-for-ipo-market-softbank\" style=\"\" rel=\"noopener\">turning point<\/a>,\u201d and \u201c <a target=\"_blank\" href=\"https:\/\/www.cnbc.com\/2023\/08\/21\/arm-ipo-what-it-means-for-ipo-market-softbank.html\" style=\"\" rel=\"noopener\">big deal<\/a> \u201d are all phrases being used in the global business press this morning in anticipation of a revival of the US IPO market.<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong> European gas prices jump again on Australia LNG supply fears: <\/strong>European natural gas prices jumped as much as 9.1% during trading yesterday as <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/dc4e0beb-b088-4a53-b7ca-95e019d0eb61\" style=\"\" rel=\"noopener\">labor unrest<\/a> at key Australian LNG terminals continue to cause concern about global gas supplies, the <a target=\"_blank\" href=\"https:\/\/www.ft.com\/content\/3422e61b-2869-44b2-8cc4-f26cf45dbe46\" style=\"\" rel=\"noopener\">Financial Times<\/a> reports. The Dutch TTF benchmark closed 6.5% higher yesterday after unions representing workers at one of the terminals warned that production could soon stop. Australia supplies around 10% of the world\u2019s supply of LNG. <\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong> China cuts rates to prop up the economy \u2014 but is it enough? <\/strong>China cut one of its key interest rates in a bid to boost weakening credit growth but in a surprise move left its five-year rate unchanged, <a target=\"_blank\" href=\"https:\/\/www.reuters.com\/world\/china\/china-cuts-1-year-lending-benchmark-keeps-5-year-unchanged-2023-08-21\/\" style=\"\" rel=\"noopener\">Reuters<\/a> reports. Investors had expected the central bank to reduce the five-year rate due to its impact on the price of mortgages, though the rapidly weakening currency has left it with limited options for easing policy. The Chinese real estate sector is in a severe slump that\u2019s threatening to push the country\u2019s largest developer into default and trigger a financial crisis.<\/p><p><a target=\"_blank\" id=\"t.4531a4a4f4740f62523a38a6cbb97565e621d496\" rel=\"noopener\"><\/a> <a target=\"_blank\" id=\"t.0\" rel=\"noopener\"><\/a> <\/p><div class=\"stock-ticker-panel\">\n<table class=\"table stock-ticker-table table-striped markets-table\">\n<tbody>\n<tr class=\"tr-row-down\">\n<td class=\"td-list-down\">\n<p><svg class=\"e-icon e-TypeMarkets1\"><use xlink:href=\"#e-TypeMarkets1\"><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong> EGX30 <\/strong><\/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\">17,920<\/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\">-0.6% (YTD: +22.8%)<\/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\"><strong> USD (CBE) <\/strong><\/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\">Buy 30.83<\/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\">Sell 30.96<\/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\"><strong> USD at CIB <\/strong><\/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\">Buy 30.85<\/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\">Sell 30.95<\/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\"><strong> Interest rates CBE <\/strong><\/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\">19.25% deposit<\/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\">20.25% lending<\/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\"><strong> Tadawul <\/strong><\/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\">11,408<\/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\">-0.8% (YTD: +8.9%)<\/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\"><strong> ADX <\/strong><\/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\">9,776<\/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\">-0.3% (YTD: -4.3%)<\/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\"><strong> DFM <\/strong><\/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\">4,054<\/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\">+0.1% (YTD: +21.5%)<\/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\"><strong> S&amp;P 500 <\/strong><\/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\">4,400<\/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\">+0.7% (YTD: +14.6%)<\/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\"><strong> FTSE 100 <\/strong><\/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\">7,258<\/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\">-0.1% (YTD: -2.6%)<\/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\"><strong> Euro Stoxx 50 <\/strong><\/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\">4,225<\/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\">+0.3% (YTD: +11.4%)<\/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\"><strong> Bre <\/strong><strong> n <\/strong><strong> t crude <\/strong><\/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\">USD 84.53<\/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\">-0.3%<\/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\"><strong> Natural gas <\/strong>(Nymex)<\/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\">USD 2.61<\/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\">+2.4%<\/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\"><strong> Gold <\/strong><\/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\">USD 1,923.70<\/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\">+0.4%<\/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\"><strong> BTC <\/strong><\/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\">USD 26,113<\/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\">-0.4% (YTD: +58.0%)<\/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\"><strong> THE CLOSING BELL- <\/strong><\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong> The EGX30 fell 0.6% at yesterday\u2019s close <\/strong> on turnover of EGP 2.5 bn (23.5% above the 90-day average). Foreign investors were net sellers. The index is up 22.8% YTD.<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong> In the green: <\/strong>Oriental Weavers (+2.9%), Heliopolis Housing (+2.7%) and Edita (+2.0%).<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong> In the red: <\/strong>B Investments Holding (-6.4%), Beltone Financial Holding (-4.3%) and Juhayna (-2.2%).<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong> Asian markets are in the green in early trading this morning <\/strong> following yesterday\u2019s tech rally in the US. The rebound on Wall Street doesn\u2019t look like it\u2019ll continue at the opening today, with equity futures in the red this morning.<\/p>\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/arm\/\">Arm<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/china\/\">China<\/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\/financial-markets\/\">Financial Markets<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/global-economy\/\">global economy<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/oil-and-gas\/\">oil and gas<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/planet-finance\/\">Planet Finance<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/softbank\/\">SoftBank<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                    <\/div>\n    <\/div>\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"603879\" 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=\"603879\">\r\n            \r\n                <div class=\"issue-story-header text-center\">\r\n                    <div class=\"index-number\">12<\/div>\r\n\r\n                    <p class=\"f-graphik\">Diplomacy<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2023\/08\/22\/shoukry-talks-regional-issues-with-us-secretary-of-state-blinken\/\">\r\n                            Egypt, US top diplomats discuss regional issues                        <\/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\/08\/22\/shoukry-talks-regional-issues-with-us-secretary-of-state-blinken\/\" 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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Recent developments in Sudan, Palestine, Libya, and Niger were all on the agenda, as were the <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/b70ce43e-0fae-48ec-b24d-20442da49b6f\" style=\"\" rel=\"noopener\">recent round of talks in Cairo<\/a> aimed at bringing an end to the war in Syria.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong> ALSO FROM THE DIPLO SPHERE- <\/strong><\/p>\n<ul>\n<li><strong> Irrigation Minister Hany Sweilam <\/strong> met the head of<strong> the World Bank\u2019s Water Global <\/strong><strong> Practice <\/strong> to talk about the Bank\u2019s role in combating water insecurity in Egypt, as well as the government\u2019s <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/7817579d-ada8-4f9e-9b92-48d2aab54d3a\" style=\"\" rel=\"noopener\">NWFE program<\/a> to attract finance to local water, food security and energy projects. (<a target=\"_blank\" href=\"https:\/\/bit.ly\/3P5SlQw\" style=\"\" rel=\"noopener\">Irrigation Ministry<\/a>)<\/li>\n<li><strong> Tourism Minister Ahmed Eissa <\/strong> discussed attracting more South Korean tourists to Egypt with <strong> the country\u2019s new ambassador<\/strong>, Kim Yong-Hyun. (<a target=\"_blank\" href=\"https:\/\/bit.ly\/3P5RYW8\" style=\"\" rel=\"noopener\">Tourism Ministry<\/a>)<\/li>\n<\/ul>\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/ahmed-eissa\/\">Ahmed Eissa<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/antony-blinken\/\">Antony Blinken<\/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\/diplomacy\/\">DIPLOMACY<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/egypt-south-korea-relations\/\">Egypt-South Korea relations<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\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\/foreign-ministry\/\">Foreign Ministry<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/hany-sweilam\/\">Hany Sweilam<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/irrigation-ministry\/\">Irrigation Ministry<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/sameh-shoukry\/\">Sameh Shoukry<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/tourism-and-antiquities-ministry\/\">Tourism and Antiquities Ministry<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/water-security\/\">water security<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/world-bank\/\">World Bank<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                    <\/div>\n    <\/div>\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<div class=\"alignfull vertical-section wide-section going-green wp-block-group issue-section\" id=\"603881\">\r\n    <div class=\"issue-section__content\">\r\n        <div class=\"alignwide wp-block-columns\">\r\n            <div class=\"wp-block-column sidebar-vertical-info\" style=\"flex-basis:22.8%\">\r\n                <figure class=\"wp-block-image size-full\">\r\n                                            <img decoding=\"async\" src=\"https:\/\/s3.amazonaws.com\/resources.inktankir.com\/internal\/27465.svg\" style=\"width:80%\" alt=\"\" >\r\n                                    <\/figure>\r\n                <p>\r\n                    Our weekly deep dive into the green economy and ESG issue in Egypt.                <\/p>\r\n                <figure class=\"wp-block-image size-full mt-0 mb-0 img-white-bg\"><img data-recalc-dims=\"1\" decoding=\"async\" src=\"https:\/\/i0.wp.com\/s3.amazonaws.com\/resources.inktankir.com\/internal\/27483.png?ssl=1\" alt=\"\"><\/figure>\r\n                <p class=\"has-text-color has-link-color\">\r\n                    Published every Tuesday in EnterpriseAM.                <\/p>\r\n                <div class=\"wp-block-buttons mt-0\">\r\n                    <div class=\"wp-block-button\">\r\n                        <a class=\"wp-block-button__link has-background wp-element-button\" href=\"https:\/\/enterpriseam.com\/egypt\/goinggreen\/\">\r\n                            Read going Green                        <\/a>\r\n                    <\/div>\r\n                <\/div>\r\n            <\/div>\r\n            <div class=\"wp-block-column issue-section\">\r\n                <div class=\"story-section\">\r\n                    <div class=\"issue-story-header text-center\">\r\n                        <div class=\"index-number\">13<\/div>\r\n\r\n                        <p class=\"f-graphik\">Going Green<\/p>\r\n                        <h3 class=\"story-title\"><a href=\"https:\/\/enterpriseam.com\/egypt\/goinggreens\/its-100-days-until-cop28-where-does-the-world-stand-on-climate-finance\/\">\r\n                            It\u2019s 100 days until COP28. Where does the world stand on climate finance?<\/a>\r\n                        <\/h3>\r\n\r\n\t\t\t\t\t\n<div class=\"cta\">\n    <div class=\"cta__btn share-dropdown-cta dropdown-toggle-btn\" style=\"position:relative\">\n        <img decoding=\"async\" src=\"https:\/\/ent.news\/internal\/408834.svg\" alt=\"\">\n        Share Story\n        <!-- Dropdown Menu -->\n        <ul class=\"share-menu\">\n            <li class=\"list-inline-item\">\n                <a href=\"https:\/\/enterpriseam.com\/egypt\/goinggreens\/its-100-days-until-cop28-where-does-the-world-stand-on-climate-finance\/\" target=\"_blank\">\n                    Open in new tab                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/new-tab.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a href=\"#\" target=\"_blank\" onclick=\"event.preventDefault(); navigator.clipboard.writeText('https:\/\/enterpriseam.com\/egypt\/goinggreens\/its-100-days-until-cop28-where-does-the-world-stand-on-climate-finance\/')\">\n                    Copy Link                <\/a>\n\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a target=\"_blank\" href=\"https:\/\/www.facebook.com\/sharer.php?u=https:\/\/enterpriseam.com\/egypt\/goinggreens\/its-100-days-until-cop28-where-does-the-world-stand-on-climate-finance\/\">\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=It\u2019s 100 days until COP28. Where does the world stand on climate finance?&url=https:\/\/enterpriseam.com\/egypt\/goinggreens\/its-100-days-until-cop28-where-does-the-world-stand-on-climate-finance\/\">\n                    X                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/twitter-icon.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a target=\"_blank\" href=\"https:\/\/www.linkedin.com\/shareArticle?mini=true&url=https:\/\/enterpriseam.com\/egypt\/goinggreens\/its-100-days-until-cop28-where-does-the-world-stand-on-climate-finance\/&title=It\u2019s 100 days until COP28. 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At COP27 in Sharm El Sheikh last year, big pledges were made by developed nations to help their developing counterparts adapt to a changing climate. So what\u2019s happened since? And what should we expect on the climate finance front out of Dubai? <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong> What counts as climate finance: <\/strong>Climate finance is any and all money that flows to green projects. Those projects are generally grouped into <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/69c72d75-47be-40d9-a09b-88fbfcb8fc89\" style=\"\" rel=\"noopener\">two main categories<\/a>. <a target=\"_blank\" href=\"https:\/\/www.thegef.org\/what-we-do\/topics\/climate-change-mitigation#:~:text=Mitigation%20strategies%20include%20retrofitting%20buildings,sustainable%20uses%20of%20land%20and\" style=\"\" rel=\"noopener\">Mitigation projects<\/a> try to reduce the amount of greenhouse gases being released into the atmosphere \u2014 think renewable power plants, sustainable transport infrastructure, or making buildings more energy efficient. <a target=\"_blank\" href=\"https:\/\/www.thegef.org\/what-we-do\/topics\/climate-change-adaptation\" style=\"\" rel=\"noopener\">Adaptation projects<\/a> help countries handle the changing climate \u2014 for example, by growing crops that can handle higher temperatures or building sea walls to reduce flooding risks amid rising sea levels. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong> And where it comes from: <\/strong>Climate finance can come through bilateral institutions funded by one country, from multilateral lenders, or from dedicated regional or country-specific funds. Climate Funds Update has a detailed map of <a target=\"_blank\" href=\"https:\/\/climatefundsupdate.org\/about-climate-finance\/global-climate-finance-architecture\/\" style=\"\" rel=\"noopener\">many of the key sources<\/a>. The finance could come in the form of concessional loans, debt swaps, grants, private equity, or other types of lending. Often, the focus is on how public institutions \u2014 whether individual countries or multilateral organizations \u2014 can use climate finance to de-risk green projects, helping to mobilize private lenders to come onboard in their wake. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong> Climate finance is a key issue for emerging markets: <\/strong>Climate finance is needed everywhere \u2014 but debates around global climate finance have focused on how developed countries can make financing for green projects accessible in and emerging markets (EMs). There are several reasons for that. It\u2019s often more expensive to finance infrastructure projects in EMs because borrowers pay a premium to cover the risk investors take on by investing in less established markets. At the same time, public money is stretched further in many EMs, meaning governments may not be able to fund the projects they need for the green transition \u2014 especially when many are already carrying heavy debt burdens, much of it owed to richer countries. Finally, there\u2019s a moral argument, with EMs saying that they should not have to bear the full cost \u2014 or become even more indebted \u2014 to solve a crisis largely created by developed countries, who have historically been responsible for the <a target=\"_blank\" href=\"https:\/\/www.cgdev.org\/media\/who-caused-climate-change-historically#:~:text=Developed%20Countries%20Are%20Responsible%20for,Global%20Development%20%7C%20Ideas%20to%20Action\" style=\"\" rel=\"noopener\">vast majority<\/a> of greenhouse gas emissions. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong> COP27 saw a victory for EMs on the climate finance front: <\/strong>Last year\u2019s COP summit was billed as the summit for developing nations \u2014 and their demands on climate finance were front and center. At the summit, a landmark agreement was reached to create a loss and damage fund that will see developed countries pledge funds to \u201csave lives and livelihoods from climate change related disasters\u201d in <a target=\"_blank\" href=\"https:\/\/climate.enterprise.press\/issues\/2022\/11\/21\/cop27-lands-landmark-usd-100-bn-loss-damage-fund\/#tldr-story-01\" style=\"\" rel=\"noopener\">climate-affected countries<\/a>. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong> Where the loss and damage fund stands now: <\/strong>The agreement to set up the fund was hard-won at last year\u2019s COP \u2014 but it doesn\u2019t nail down any of the details on who will pay into it, its target value, who will be eligible to receive the funds, and how it will operate. Those details are being hashed out by a <a target=\"_blank\" href=\"https:\/\/unfccc.int\/tc-membership\" style=\"\" rel=\"noopener\">transitional committee<\/a> of 24 member states including Egypt. Since COP27, the committee has held two meetings and another two workshops, and is <a target=\"_blank\" href=\"https:\/\/unfccc.int\/meetings-of-the-transitional-committee-and-related-workshops-and-events\" style=\"\" rel=\"noopener\">set to meet again<\/a> in the Dominican Republic next week \u2014 but they\u2019ve been tight-lipped on how the talks are progressing. In recent months, dozens of developing nations have <a target=\"_blank\" href=\"https:\/\/unfccc.int\/process-and-meetings\/bodies\/constituted-bodies\/transitional-committee\/case-studies\" style=\"\" rel=\"noopener\">submitted case studies<\/a> on their own loss and damage from climate change to help inform the committee\u2019s decisions. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong> Some want to see more action: <\/strong>\u201cPlease do not operate in \u2018UNFCCC time\u2019 which would mean talking and talking for years before a penny is available in the fund,\u201d Saleemul Huq, director of the International Centre for Climate Change and Development in Bangladesh, tells COP delegates in an article published by <a target=\"_blank\" href=\"https:\/\/www.climatechangenews.com\/2023\/03\/27\/cop-veteran-3-suggestions-new-loss-and-damage-fund\/\" style=\"\" rel=\"noopener\">Climate Home News<\/a>. \u201cPlease try your best to get something up and operational by COP28 rather than COP29 or COP30.\u201d<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong> So will the loss and damage fund be finalized in Dubai? <\/strong>It doesn\u2019t look too likely as of now, though COP-watchers are hoping to see at least some progress. COP28 could bring \u201csome sort of a structure of governance and identification as well of the sources of funds,\u201d Egyptian climate czar Mahmoud Mohieldin told Enterprise Climate recently \u2014 but <a target=\"_blank\" href=\"https:\/\/enterprise.news\/climate\/en\/news\/story\/91c7b6fd-990d-4efb-a37a-8a63310590ca\" style=\"\" rel=\"noopener\">suggested<\/a> delegates may stop short of pinning down who signs up, who is eligible, and who monitors the fund. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong> Meanwhile, the most famous pledge in climate finance still isn\u2019t being met: <\/strong>Developed countries are yet to make good on their biggest commitment to funding climate projects abroad. Richer countries pledged to mobilize USD 100 bn per year in climate finance to developing nations by 2020, a goal that was extended until 2025 at COP21 in Paris. As of 2020, they were still some USD 17 bn short of that goal, according to <a target=\"_blank\" href=\"https:\/\/www.oecd.org\/climate-change\/finance-usd-100-billion-goal\/\" style=\"\" rel=\"noopener\">OECD figures<\/a>. President Abdel Fattah El Sisi <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/b830c254-a0f9-4b88-a1d6-42293fc416b1\" style=\"\" rel=\"noopener\">urged world leaders<\/a> to redouble their efforts to fulfil that pledge at the Paris Summit for a New Global Financing Pact back in June \u2014 a summit that was <a target=\"_blank\" href=\"https:\/\/www.politico.eu\/article\/paris-new-global-financing-pact-summit-macron-climate\/\" style=\"\" rel=\"noopener\">widely criticized<\/a> for failing to secure more concrete commitments from developed nations on climate finance. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong> But there are some positive signs: <\/strong> While the landmark, UN-led agreements on climate finance are slow to implement, there are signs that more and newer kinds of climate finance are coming onto the global stage. In one recent example, Gabon just became the first country in Africa to agree a <a target=\"_blank\" href=\"https:\/\/www.ft.com\/content\/23c1c1ce-59ef-4fee-8b86-fed2c3e5f3b1\" style=\"\" rel=\"noopener\">debt-for-nature swap<\/a>. Under this type of climate finance, the heavily indebted country is getting better terms on USD 500 mn of its debt, in return for spending at least USD 125 mn to protect endangered dolphins. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\">\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\"><strong> Your top green economy stories for the week: <\/strong><\/p>\n<ul>\n<li><strong> Gov\u2019t wants more for the Gabal El Zeit wind farm: <\/strong> The government is in talks with emerging markets private equity giant Actis to <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/e0e2617c-d035-4deb-9049-f888ad35500d\" style=\"\" rel=\"noopener\">up its bid for the 580-MW Gabal El Zeit wind farm<\/a> to USD 600-800 mn.<\/li>\n<li><strong> License renewals for Benban firms: <\/strong> The Egyptian Electric Utility and Consumer Protection Regulatory Agency (Egyptera) approved license renewals for 14 solar energy companies working in Benban. (<a target=\"_blank\" href=\"https:\/\/www.alborsaanews.com\/2023\/08\/21\/1703582\" style=\"\" rel=\"noopener\">Al Borsa<\/a>)<\/li>\n<\/ul>\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/cop28\/\">COP28<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\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\/going-green\/\">going green<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/green-economy\/\">Green Economy<\/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=\"603883\" 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\/08\/22\/603883\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-603883\" class=\"content-area-description single-story post-603883 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;\">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;\">16 August - 27 September: The start of the bidding process for the fifth phase of the investment map offered by the Industrial Development Authority (IDA).<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span>20 August (Sunday): Deadline for second phase of tansik <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/tansik.digital.gov.eg\/application\/\" style=\"\">applications<\/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;\">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:400;\">23 August (Wednesday): Networking Summit and Industrial Service Providers Meeting, Green Desert Hotel, Sadat City.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:400;\">24-26 August (Thursday-Saturday): Jackson Hole Economic Symposium.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"\">28 August (Monday): The start of Flat6Labs\u2019 <\/span><span style=\"font-weight:400;\">inaugural 12-week contech accelerator program. <\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:700;\">SEPTEMBER <\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span>September<\/span><span>: 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>September: Sustainable 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>September: IDH to open first branch in Saudi Arabia.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span>September: The Egypt-Germany trade and investment joint conference in Cairo.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span>September: JETRO\u2019s second delegation arrives in Cairo.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span>1 September (Friday): <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/bit.ly\/3qvncvU\" style=\"\">Application deadline<\/a><\/span><span> for the <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/bit.ly\/3MZrsLT\" style=\"\">Smart Green Projects initiative<\/a><\/span><span>.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span>3-5 September (Sunday-Tuesday): <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/www.pharmaconex-exhibition.com\/en\/home.html\" style=\"\">Pharmaconex<\/a><\/span><span style=\"font-weight:400;\">, Egypt International Exhibition Centre, Cairo.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:400;\">7-8 (Thursday-Friday): Regional Forum for Sustainability & Development, Cairo.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span>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;\">10-12 September (Sunday-Tuesday): The International Agricultural Exhibition for Africa and the Middle East, Sahara.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span>13-14 September (Wednesday-Thursday): <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/www.egypthydrogen2023.com\/\" style=\"\">Hydrogen Egypt Summit<\/a><\/span><span style=\"font-weight:400;\">, Nile Ritz Carlton, Cairo.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span>13 September (Wednesday): Deadline for settling outstanding military service in FX.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span>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 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>17-18 September (Sunday-Monday): <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/www.arabsecurityconference.com\/\" style=\"\">Arab Security Conference and Exhibition<\/a><\/span><span style=\"font-weight:400;\">, Nile Ritz Carlton, Cairo.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:400;\">17-19 September (Sunday-Tuesday): Sharm Rendezvous, Rixos Premium Seagate, Sharm ElSheikh.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span>18-19 September (Monday-Tuesday): <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/finance.enterprise.news\/\" style=\"\">Enterprise Finance Forum<\/a><\/span><span style=\"font-weight:400;\">, St. Regis Hotel, Cairo.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span>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>20-23 September (Wednesday-Saturday): <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/www.cityscapeegypt.com\/en\/home.html\" style=\"\">Cityscape Egypt<\/a><\/span><span style=\"font-weight:400;\">, Egypt International Exhibition Center, Cairo.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span>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>25 September (Monday): Nasdaq 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>25-26 September (Monday-Tuesday): Egypt <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/bit.ly\/43zXWDg\" style=\"\">to host<\/a><\/span><span> the Asian Infrastructure Investment Bank\u2019s annual board meeting, Sharm El Sheikh.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:400;\">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>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>28-29 September (Thursday-Friday): <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/www.southsinai.gov.eg\/News\/Details\/3067\" style=\"\">Medical Tourism Conference<\/a><\/span><span style=\"font-weight:400;\">, Sharm ElSheikh.  <\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span>30 September (Saturday): The start of the new academic year for Egyptian universities. <\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"\">30 September (Saturday): The <\/span><span>start of the new academic year for Egyptian schools. <\/span><\/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>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> for ins. 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 style=\"font-weight:400;\">October: Egyptian-Jordanian Business Council, Amman, Jordan.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:400;\">1-3 October (Sunday-Tuesday) International Expotec for water economics management, Egypt International Exhibition Center, Fifth Settlement, Cairo. <\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span>2-4 October (Monday-Wednesday): <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/sharmrendezvous.ifegypt.net\/\" style=\"\">Sharm Rendezvous<\/a><\/span><span style=\"font-weight:400;\"> - Ins. Market, Rixos Premium Seagate, Sharm ElSheikh.<\/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>9 October (Monday): The <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/narrativesummit.com\/\" style=\"\">Narrative PR Summit<\/a><\/span><span style=\"font-weight:400;\">, Somabay Red Sea.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:400;\">9-11 October (Monday-Wednesday): Arabs Savings and Financial Literacy Conference, Four Seasons Hotel.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span>10-12 October ( Tuesday-Thursday) <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/eaba-com.com\/ceramica-expo\/\" style=\"\">Ceramica Expo<\/a><\/span><span style=\"font-weight:400;\">, Cairo International Convention 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;\">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>15-17 October (Sunday-Tuesday): <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/www.autotechegypt.com\/en\/home.html\" style=\"\">Egypt Automotive Aftermarket Exhibition<\/a><\/span><span style=\"font-weight:400;\">, Cairo International Convention 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;\">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>29-31 October (Sunday-Tuesday): <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/www.egypt-energy.com\/en\/home.html\" style=\"\">Egypt Energy<\/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>29 October - 2 November (Sunday- Thursday): <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/www.cairowaterweek.eg\/register\/\" style=\"\">Cairo Water Week<\/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>30-31 October (Monday-Tuesday): <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/platforms-root-technologies.com\/icec-2023\/.\" style=\"\">Intelligent Cities Exhibition and Conference<\/a><\/span><span style=\"font-weight:400;\">, Dusit Thani LakeView, 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;\">30-31 October (Monday-Tuesday): Global Business School Network (GBSN), American University of 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;\">31 October - 1 November (Tuesday-Wednesday): Federal Reserve interest rate meeting. <\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:700;\">NOVEMBER <\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:400;\">2 November (Thursday): Central Bank of Egypt\u2019s Monetary Policy Committee meeting.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span>9-15 November (Thursday-Wednesday): <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/www.intrafricantradefair.com\/en%3Futm_source%3DIATF%252027%252F02&utm_campaign%3D226fc251f7-EMAIL_CAMPAIGN_2023_05_30_12_03&utm_medium%3Demail&utm_term%3D0_-226fc251f7-%255BLIST_EMAIL_ID%255D\" style=\"\">Intra-African Trade Fair<\/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>14-15 November (Tuesday-Wednesday): <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/destination-africa.org\" style=\"\">Destination Africa<\/a><\/span><span style=\"font-weight:400;\">, Royal Maxim Palace Kempinski Hotel. <\/span><\/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>19-22 November (Sunday-Wednesday): <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/cairoict.com\/\" style=\"\">Cairo ICT<\/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>23 November (Thursday): <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/www.worldviewevents.com\/signup\" style=\"\">Worldview Education Fair<\/a><\/span><span>, Cairo. (<\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/www.worldviewevents.com\/signup\" style=\"\">Register here<\/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;\">30 November-12 December (Thursday-Tuesday): COP28, Dubai.<\/span><\/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>12-14 December (Tuesday-Thursday): <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/foodafrica-expo.com\/\" style=\"\">Food Africa 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 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=\"font-weight:400;\">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 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 style=\"font-weight:400;\">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;\">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 style=\"font-weight:400;\">End of 2024: The launch of the high-speed train line linking Ain Sokhna with Al Alamein City. <\/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\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>PLUS- United Bank: Not so fast + easier sukuk rules + Apache investment<\/p>\n","protected":false},"featured_media":603852,"menu_order":0,"template":"","categories":[],"tags":[],"class_list":["post-603851","issue","type-issue","status-publish","has-post-thumbnail","hentry","wpautop","entry"],"acf":{"mongo_id":"437c951d-f465-42ba-86ea-4529f4ab22b2","teaser":"PLUS- United Bank: Not so fast + easier sukuk rules + Apache investment","photo_url":"https:\/\/ent.news\/2023\/8\/1014.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>Privatization continues to shape the news 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