{"id":605634,"date":"2023-09-04T00:00:00","date_gmt":"2023-09-04T00:00:00","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/?post_type=issue&#038;p=605634"},"modified":"2025-12-17T00:23:07","modified_gmt":"2025-12-17T00:23:07","slug":"uae-based-firm-acquires-30-stake-in-eastern-company","status":"publish","type":"issue","link":"https:\/\/enterpriseam.com\/egypt\/issues\/uae-based-firm-acquires-30-stake-in-eastern-company\/","title":{"rendered":"UAE-based firm acquires 30% stake in Eastern Company"},"content":{"rendered":"<section id=\"605636\" 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=\"605636\">\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\/09\/04\/japans-foreign-minister-is-in-town-today\/\">\r\n                            Japan\u2019s top diplomat to hold talks with El Sisi, Shoukry                        <\/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\/09\/04\/japans-foreign-minister-is-in-town-today\/\" target=\"_blank\">\n                    Open in new tab                    <!-- <img decoding=\"async\" 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data-permalink=\"https:\/\/enterpriseam.com\/egypt\/2023\/09\/04\/japans-foreign-minister-is-in-town-today\/109-jpg-17\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2023\/9\/109.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"109.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2023\/9\/109.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2023\/9\/109.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-605636\" class=\"content-area-description single-story post-605636 post type-post status-publish format-standard has-post-thumbnail hentry category-what-were-tracking-today tag-abdel-fattah-el-sisi tag-diplomacy tag-egypt-japan-relations tag-enterpriseam tag-sameh-shoukry 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\/9\/.8081d735-b707-4eae-ad81-65596afa908a.mp3\"><\/audio><\/figure><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong> Good morning, everyone, and welcome to a blockbuster morning for news<\/strong>, where the top headlines include the surprise sale of a large stake in Eastern to a UAE-based company and confirmation that Eni and its partners are planning a massive ramp-up in investment here. <\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\">^^ We have the rundown on both stories in this morning\u2019s news well, below. But first:<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"> <a id=\"wwtt5\"><\/a> <strong> EGP WATCH- Is the parallel market for greenbacks cooling? <\/strong>The EGP is reportedly now trading at 38-39 per USD in the parallel market \u2014 down from highs of 41 last week \u2014 as local banks step in to meet demand among importers for the greenback, <a target=\"_blank\" href=\"https:\/\/bit.ly\/47WW22l\" style=\"\" rel=\"noopener\">Al Arabiya<\/a> reports, citing unnamed sources. A large number of local banks have begun covering the hard currency needs of importers under certain unspecified conditions, the news outlet reports. The official exchange rate has remained pegged at EGP 30.96 since March. <\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong> Remember: The parallel market is, by definition, not transparent. <\/strong>Nobody has anything approaching \u201creal\u201d price discovery, meaning it\u2019s near impossible to say with certainty \u201cwhat the rate is\u201d at any given moment in time \u2014 and that swings without regard to fundamentals are the norm. The EGP has lost almost half of its value against the USD since March 2022, and reduced inflows of hard currency has helped fuel a resurgent parallel market.<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong> PSA- You may want to avoid the 26 July road for a while: <\/strong>A 400-meter segment of the 26th of July Axis has been shut down for six months for the construction of the Sixth of October monorail, according to <a target=\"_blank\" href=\"https:\/\/bit.ly\/45TwtNY\" style=\"\" rel=\"noopener\">a sta<\/a> <a target=\"_blank\" href=\"https:\/\/bit.ly\/45TwtNY\" style=\"\" rel=\"noopener\">tem<\/a> <a target=\"_blank\" href=\"https:\/\/bit.ly\/45TwtNY\" style=\"\" rel=\"noopener\">ent<\/a> by Giza governorate. The road closed on Saturday in both directions from the top of the Nile Valley Street tunnel to the beginning of Lebanon Bridge. Detours are in effect, but don\u2019t expect Google Maps to know them anytime soon.<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong> UPDATE- <\/strong> The <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/70c6f14e-f08a-4718-9c19-253ced03c515\" style=\"\" rel=\"noopener\">contract signed<\/a> between Egyptian National Railways, Thales Group and Orascom Construction to <strong> upgrade the signaling systems on the Cairo-Beni Suef railway line <\/strong> is worth EUR 340 mn, according to <a target=\"_blank\" href=\"https:\/\/ent.news\/2023\/9\/105.pdf\" style=\"\" rel=\"noopener\">a statement (pdf)<\/a> put out by Orascom yesterday. The initial statement from the Transport Ministry on Friday didn\u2019t disclose the contract\u2019s value.<\/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> HAPPENING TODAY- <\/strong><\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"> <a id=\"wwtt1\"><\/a> <strong> The Japanese FM is in Cairo: <\/strong> Japan\u2019s chief diplomat Yoshimasa Hayashi will hold talks with President Abdel Fattah El Sisi and Foreign Minister Sameh Shoukry during his visit to Egypt today, according to <a target=\"_blank\" href=\"https:\/\/bit.ly\/48bfbxM\" style=\"\" rel=\"noopener\">a statement<\/a> from the embassy. He will also hold a three-way meeting with Shoukry and Jordan\u2019s foreign minister, Ayman Safadi. Hayashi was in Jordan yesterday, where he announced that Tokyo will extend a USD 100 mn loan to support the country\u2019s electricity reforms, according to <a target=\"_blank\" href=\"https:\/\/www.reuters.com\/article\/idUSL8N3AF0ET\" style=\"\" rel=\"noopener\">Reuters<\/a>.<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong> This comes four months after the Japanese prime minister <\/strong><strong><a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/dbf1a575-7088-4942-9f30-c778533dba54\" style=\"\" rel=\"noopener\">visited Egypt<\/a><\/strong>, during which the countries upgraded bilateral ties to a strategic partnership.<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong> It\u2019s Labor Day in the United States and Canada<\/strong>, so markets there are closed and your friends in finance will be celebrating the last \u2018real\u2019 weekend of summer.<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><a id=\"wwtt2\"><\/a> <strong> Africa pharma expo: <\/strong> It\u2019s the second day of the <a target=\"_blank\" href=\"https:\/\/www.pharmaconex-exhibition.com\/en\/home.html\" style=\"\" rel=\"noopener\">Pharmaconex<\/a> exhibition at the Egypt International Exhibition Centre. The event runs through to Tuesday.<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><a id=\"wwtt3\"><\/a> <strong> Climate talks in Kenya: <\/strong> Climate leaders from across the continent will gather in the Kenyan capital today for the three-day <a target=\"_blank\" href=\"https:\/\/africaclimatesummit.org\/\" style=\"\" rel=\"noopener\">Africa Climate Summit<\/a>. Egypt\u2019s UN high-level climate champion, Mahmoud Mohieldin, will be among those in attendance.<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong> Erdogan to discuss grain pact with Putin: <\/strong> Turkish president Recep Tayyip Erdogan will attempt to persuade Russian leader Vladimir Putin to re-enter the Black Sea grain pact with Ukraine during talks in Sochi this week, according to <a target=\"_blank\" href=\"https:\/\/www.reuters.com\/world\/putin-meet-turkeys-erdogan-monday-sochi-kremlin-2023-09-01\/\" style=\"\" rel=\"noopener\">Reuters<\/a>. Moscow pulled out of the agreement in July and reimposed a partial blockade on Ukraine\u2019s ports, threatening to provoke a fresh global food crisis.<\/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\"><strong> GO EAT HERE- The grand opening of F\u00f4u. <\/strong>What do you do when you\u2019re a rising star in the field of corporate law? If you\u2019re arbitration lawyer <a target=\"_blank\" href=\"https:\/\/www.instagram.com\/farah_elcharkawy\/?hl=en\" style=\"\" rel=\"noopener\">Farah El Charkawy<\/a>, late of Zulficar and Parters, you attend top European culinary schools (including Alain Ducasse in France) and then open your own patisserie (<a target=\"_blank\" href=\"https:\/\/www.instagram.com\/foubyfarah\/?hl=en\" style=\"\" rel=\"noopener\">Instagram<\/a> | <a target=\"_blank\" href=\"https:\/\/www.foubyfarah.com\/\" style=\"\" rel=\"noopener\">website<\/a>). <strong> F\u00f4u\u2019s grand opening is tomorrow (Tuesday, September 5) at 8pm <\/strong>in Zamalek at Marakez\u2019s wonderful Villa M. Mabrouk, Farah \u2014 we can\u2019t wait to taste what you\u2019re creating. <\/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\"><a id=\"wwtt4\"><\/a> <strong> PMI figures out tomorrow: <\/strong> S&amp;P Global will publish August purchasing managers index figures for Egypt on 5 September. Private-sector activity <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/e41ffc38-3170-485c-961f-1af6a755be69\" style=\"\" rel=\"noopener\">has finally been showing signs of life<\/a> in recent months, with the perma-contraction easing gradually over the past four months.<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong> Foreign reserves figures will be out any day now. <\/strong> Expect the central bank to release figures for August before the week is out.<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong> G20 summit: <\/strong> G20 leaders (sans <a target=\"_blank\" href=\"https:\/\/www.ft.com\/content\/0d5b7b33-3fe3-41d8-b910-cec19a127313\" style=\"\" rel=\"noopener\">Xi<\/a> and <a target=\"_blank\" href=\"https:\/\/www.bbc.com\/news\/world-asia-india-66603137\" style=\"\" rel=\"noopener\">Putin<\/a>) will gather in New Delhi for the 2023 G20 summit on Saturday and Sunday. We\u2019re also expecting an Egyptian delegation at the gathering, though it\u2019s unclear which ministers will be in attendance. <\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong> Nigeria, newest G20 member? <\/strong> Nigeria is weighing membership in the G20, as President Bola Tinubu sets to attend the G20 Summit in India at the invitation of India\u2019s PM Narendra Modi. (<a target=\"_blank\" href=\"https:\/\/www.reuters.com\/world\/africa\/nigeria-mulls-g20-bloc-membership-2023-09-03\/\" style=\"\" rel=\"noopener\">Reuters<\/a>)<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong> Bright Star 2023: <\/strong>The Egypt and US-led Bright Star military exercises started on Friday, and will continue through to 14 September. Some 19 countries are taking part in the drills while 15 others will be on hand as observers.. (<a target=\"_blank\" href=\"https:\/\/bit.ly\/45V5gdD\" style=\"\" rel=\"noopener\">Armed Forces statement<\/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> FURTHER AFIELD- <\/strong>Other local news triggers to keep your eyes on as we move through September:<\/p><ul>\n<li><strong> Inflation: <\/strong> Capmas and the CBE will publish the latest inflation data on Sunday, 10 September.<\/li>\n<li><strong> Interest rates: <\/strong> The CBE\u2019s Monetary Policy Committee will gather to discuss interest rates on Thursday, 21 September.<\/li>\n<\/ul><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> THE BIG STORIES ABROAD- <\/strong><\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong> There\u2019s no single story dominating the front pages of the global business press this <\/strong><strong> morning: <\/strong>The soaring budget deficit in the United States is the lead story in the <a target=\"_blank\" href=\"https:\/\/www.washingtonpost.com\/business\/2023\/09\/03\/us-debt-deficit-rises-interest-rate\/\" style=\"\" rel=\"noopener\">Washington Post<\/a> and the <a target=\"_blank\" href=\"https:\/\/www.wsj.com\/economy\/central-banking\/do-higher-deficits-cause-inflation-not-this-year-1177e15d\" style=\"\" rel=\"noopener\">Wall Street Journal<\/a>, while the <a target=\"_blank\" href=\"https:\/\/www.ft.com\/content\/96349a26-d868-4bd1-948f-b17f87cc5c72\" style=\"\" rel=\"noopener\">Financial Times<\/a> front page leads with a story on the assistance provided to Russian banks by Chinese lenders following Western financial sanctions.<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong> ALSO- The financial press has quickly soured on Arm\u2019s much-touted IPO. <\/strong>Two weeks ago it was being heralded as the savior of the US IPO market. This morning, it\u2019s being described as a \u201cdisappointing bet\u201d by <a target=\"_blank\" href=\"https:\/\/www.wsj.com\/tech\/the-disappointing-bet-that-could-turn-into-the-biggest-ipo-of-the-year-3406c6dc\" style=\"\" rel=\"noopener\">the WSJ<\/a> as investors ponder whether its potential future growth trajectory warrants SoftBank\u2019s sky-high USD 50-55 bn valuation. We\u2019ll find out the market\u2019s response over the coming week or two as the pre-IPO roadshow begins.<\/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> FROM THE REGION- <\/strong><\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong> Turkey + Israel are looking to deepen nat gas ties: <\/strong> \u201cI had a productive phone call with Israel Katz, the Israeli energy minister, to discuss opportunities for bilateral and regional energy cooperation, including natural gas,\u201d Turkish energy minister Alparslan Bayraktar <a target=\"_blank\" href=\"https:\/\/twitter.com\/aBayraktar1\/status\/1698364334907240492?s=20\" style=\"\" rel=\"noopener\">wrote on X<\/a>(formerly known as Twitter) yesterday. He will visit Israel to continue talks \u201cat the earliest possible time,\u201d he added.<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong> ICYMI- <\/strong><\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong> Missed this week\u2019s Inside Industry? <\/strong>In our weekly vertical exploring all things industry and manufacturing, we featured Yasmine Khamis (<a target=\"_blank\" href=\"https:\/\/www.linkedin.com\/in\/yasmine-khamis-10a3b697\/\" style=\"\" rel=\"noopener\">LinkedIn<\/a>), chair of Oriental Weavers, in our <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/76dc531d-f95b-4c0e-b9a2-d909bc9f856f\" style=\"\" rel=\"noopener\">Manufacturer of the Month interview<\/a>.<\/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> JOIN US FOR OUR FINANCE FORUM- <\/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> What does 2024 hold in store for fintech: <\/strong> We dive deep into which categories are getting traction, which segments will account for the lion\u2019s share of future growth, 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><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><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> CIRCLE YOUR CALENDAR- <\/strong><\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong> PSA #2- Calling all prospective master\u2019s students: <\/strong> Applications for the UK government\u2019s Chevening scholarship will open from Tuesday, 12 September and close on 7 November. The scholarship offers full financial support for students to pursue an eligible master\u2019s degree at over 150 UK universities. Applications <a target=\"_blank\" href=\"http:\/\/www.chevening.org\/apply\" style=\"\" rel=\"noopener\">will be open here<\/a>.<\/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\/2022\/10\/CIRA-Blackboard-Banner-B-1600.jpg\"><\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong> *** It\u2019s Blackboard day: <\/strong> We have our weekly look at the business of education in Egypt, from pre-K through the highest reaches of higher ed. <\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong> In today\u2019s issue: <\/strong> The government wants more bilingual students at public schools. Here\u2019s how they\u2019re doing it.<\/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\/abdel-fattah-el-sisi\/\">Abdel Fattah El Sisi<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/diplomacy\/\">DIPLOMACY<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/egypt-japan-relations\/\">Egypt-Japan relations<\/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\/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=\"605638 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=\"605638\">\r\n            \r\n            <div class=\"story__body\">\r\n\r\n                <a href=\"https:\/\/enterpriseam.com\/egypt\/2023\/09\/04\/605638\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-605638\" class=\"content-area-description single-story post-605638 post type-post status-publish format-standard hentry category-advertiser wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<p><span style=\"font-weight:400;\"><a href=\"https:\/\/somabay.com\/\" target=\"_blank\" rel=\"noopener\"><img data-recalc-dims=\"1\" decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2023\/8\/1403.jpg?ssl=1\"><\/a><\/span><\/p><div class=\"grouped-tags\">\n<p><span style=\"\">Get ready to embark on a sensational journey of entertainment. From October through<\/span><span> December, London will be illuminated by the brilliance of three remarkable events, sponsored exclusively by Somabay. The laughter will be unstoppable at the uproarious Egyptian Trilogy comedy tour, followed by the enchanting Samar Tarik. Brace yourselves for a captivating finale with the mesmerizing Farah El Dibany. Somabay brings you an unforgettable trifecta of events that will leave you utterly captivated and eagerly anticipating each spectacular moment.<\/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=\"605639\" 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=\"605639\">\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\/09\/04\/uae-based-firm-acquires-30-stake-in-eastern-company\/\">\r\n                            UAE-based firm acquires 30% of Egyptian state-owned tobacco company                        <\/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\/09\/04\/uae-based-firm-acquires-30-stake-in-eastern-company\/\" 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 firm, Global Investment Holding, will acquire the shares from the Holding Company for Chemical Industries (CIHC) for USD 625 mn in a transaction that values Eastern at more than USD 2 bn.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong> That\u2019s not all: <\/strong> Global Investment Holding (GIH) will also provide USD 150 mn to help Eastern purchase manufacturing inputs. The statement didn\u2019t clarify whether this was included in the USD 625 mn figure, but <a target=\"_blank\" href=\"https:\/\/bit.ly\/3Z4Ia2b\" style=\"\" rel=\"noopener\">Hapi Journal<\/a>(citing an unnamed source) is reporting that the input financing is separate from the purchase price.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong> This is a very welcome surprise\u2026 <\/strong> Eastern\u2019s majority shareholder, CIHC, <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/810900eb-4ee3-45a4-bd9e-1779b205fcbd\" style=\"\" rel=\"noopener\">said less than two<\/a> <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/810900eb-4ee3-45a4-bd9e-1779b205fcbd\" style=\"\" rel=\"noopener\">weeks ago<\/a> that it would only be willing to part with 15.3% of the company under the state\u2019s asset sale program. Under yesterday\u2019s agreement, the state-owned company will instead see its stake reduced from 50.95% to 20.95%.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong> \u2026and unexpectedly fast: <\/strong> It was only in June that we first heard rumors of a potential Eastern stake sale, with Al Mal <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/e1c36f2a-81e6-49ea-8136-75b1c214b00b\" style=\"\" rel=\"noopener\">publishing an unconfirmed report<\/a> claiming a UAE state institution had shown interest in the company. CIHC publicly acknowledged the existence of talks for the first time late last month after fresh speculation in the press named Philip Morris\u2019 United Tobacco and Japan Tobacco International as potential bidders.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong> Global Investment Holding? <\/strong> While the cabinet statement says the buyer is Global Investment Holding, there is a DIFC company listed in the Dubaicompanies register as <a target=\"_blank\" href=\"https:\/\/www.difc.ae\/public-register\/global-investments-holding-ltd\/\" style=\"\" rel=\"noopener\">Global Investments Holding<\/a>(with an \u201cs\u201d at the end of \u201cInvestments\u201d). The UAE\u2019s Sheikha Lubna Al Qasimi signed the agreement on behalf of the company. Sheikha Lubna is a respected public figure in the UAE and was the first woman to hold cabinet rank in the UAE, having served in posts including as minister of economy and planning at the federal level.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong> Is Philip Morris International involved? <\/strong>Companies that appear to be units of the global tobacco giant are indirect shareholders (<a target=\"_blank\" href=\"https:\/\/www.difc.ae\/public-register\/egypt-investments-holding-ltd\/\" style=\"\" rel=\"noopener\">here<\/a> and <a target=\"_blank\" href=\"https:\/\/find-and-update.company-information.service.gov.uk\/company\/12317068\/officers\" style=\"\" rel=\"noopener\">here<\/a>) in Global Investments (with an \u201cs\u201d) Holding, together with Emirati shareholders. Philip Morris has made no statement on an Egypt transaction that we can find.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong> What they said: <\/strong> The agreement \u201cis an affirmation of the government\u2019s determination to succeed in expanding the ownership base and encourage direct private investment in various sectors,\u201d the cabinet quoted Public Enterprises Minister Mahmoud Esmat as saying. Esmat, along with Prime Minister Moustafa Madbouly and Finance Minister Mohamed Maait, attended the signing ceremony yesterday.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong> Remember: <\/strong> As part of its USD 3 bn assistance program with the IMF, Egypt earlier this year rebooted its long-stalled privatization program in a bid to attract FX inflows and shore up its external position. The government is now looking to <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/e8a0da43-f922-4a49-b3a9-839f397f8ce4\" style=\"\" rel=\"noopener\">rai<\/a> <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/e8a0da43-f922-4a49-b3a9-839f397f8ce4\" style=\"\" rel=\"noopener\">se USD 5<\/a> <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/e8a0da43-f922-4a49-b3a9-839f397f8ce4\" style=\"\" rel=\"noopener\">bn<\/a> by the end of the current fiscal year next June by selling stakes in 35 companies, one of which is Eastern Company. Privatization is a central plank of the government\u2019s ambition to attract USD 40 bn in private investment by 2026 and double the private sector\u2019s role in the economy to 65%.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong> Momentum picked up in July: <\/strong>The government announced in July that it had agreed with outside investors to <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/1f59098e-47ac-42cc-964c-b84096549959\" style=\"\" rel=\"noopener\">sell a number of state assets for USD 1.9 bn<\/a>, around USD 1.6 bn of which would be paid in FX. This included the sale of seven historic hotels to a consortium led by Talaat Moustafa Group, and ADQ\u2019s purchase of minority stakes in Egyptian Ethylene and Derivatives Company (Ethydco), Egyptian Linear Alkyl Benzene (Elab), and Egyptian Drilling Company (EDC) for USD 800 mn.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong> Market reax: <\/strong> Cabinet published its statement after the EGX closed yesterday, so we\u2019ll know better today how the market is absorbing the news. Eastern shares have been on a tear, rising about 18% over the past two weeks, including a nearly 6% gain yesterday, as they closed at EGP 21.50.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong> More cigarettes to hit the market: <\/strong> In an <a target=\"_blank\" href=\"https:\/\/ent.news\/2023\/9\/42.pdf\" style=\"\" rel=\"noopener\">EGX filing (pdf)<\/a> ahead of the announcement, Eastern said it would be upping production volumes by 15% to help address a market shortage amid allegations of price gouging by some sellers. The government <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/cfbde2cf-9ede-45d6-85eb-b34e8fdc3bb5\" style=\"\" rel=\"noopener\">last month said<\/a> it was working to increase raw materials shipments to Eastern to help ease the shortage and put an end to soaring prices.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong> The news got attention in the global financial press: <\/strong><a target=\"_blank\" href=\"https:\/\/www.bloomberg.com\/news\/articles\/2023-09-03\/uae-firm-buys-30-stake-in-egypt-tobacco-giant-for-625-million\" style=\"\" rel=\"noopener\">Bloomberg<\/a> | <a target=\"_blank\" href=\"https:\/\/www.reuters.com\/markets\/deals\/emirati-company-buys-30-stake-egypt-tobacco-firm-eastern-co-2023-09-03\/\" style=\"\" rel=\"noopener\">Reuters<\/a>.<\/p>\n\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/eastern-company\/\">Eastern Company<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/global-investment-holdings\/\">Global Investment Holdings<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/ma-watch\/\">M&amp;A Watch<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/privatization-watch\/\">privatization watch<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/state-privatization-program\/\">state privatization program<\/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=\"605641\" 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=\"605641\">\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\">INVESTMENT EIT<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2023\/09\/04\/eni-friends-to-invest-usd-7-7-bn-in-egypt-in-four-years\/\">\r\n                            Eni + partners to invest USD 7.7 bn in Egypt in four years                        <\/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\/09\/04\/eni-friends-to-invest-usd-7-7-bn-in-egypt-in-four-years\/\" 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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This came during a meeting between Eni\u2019s CEO Claudio Descalzi and President Abdel Fattah El Sisi yesterday, in which they discussed the company\u2019s energy exploration and production plans.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong> We knew Eni was planning to step-up its spend on exporation, but this is a massive <\/strong><strong> announcement <\/strong>(though obviously the figure includes a lot of spending on the production side of the E&P equation, not just exploration). The company was among the five multinationals Oil Minister Tarek El Molla recently said will <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/ab19572e-0203-404d-bdc9-9a8362b8d21c\" style=\"\" rel=\"noopener\">spend USD 1.8 bn<\/a> in fresh gas exploration. Eni, along with Chevron, ExxonMobil, BP and Shell, will drill 35 exploration wells over the next two years, the minister said.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong> We don\u2019t have much in the way of specifics just yet: <\/strong> The company is looking to drill new exploration wells at <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/373fda24-6907-4c8b-bb56-623da5e5a367\" style=\"\" rel=\"noopener\">several concessions<\/a> in the Eastern Mediterranean, which according to <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/a16e0275-994f-4318-8b49-db49b2575af3\" style=\"\" rel=\"noopener\">an<\/a> <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/a16e0275-994f-4318-8b49-db49b2575af3\" style=\"\" rel=\"noopener\">unconfirmed report in the local press<\/a> in April, includes North East Hap\u2019y.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong> Eni is one of the biggest players in the country\u2019s sector: <\/strong> Eni, along with its partners, is responsible for producing around 60% of Egypt\u2019 natural gas and operates the country\u2019s largest field, Zohr, alongside the Egyptian General Petroleum Corporation. It also owns 50% of the Damietta LNG plant, one of the country\u2019s two liquefaction facilities that are key to the government\u2019s long-term export ambitions. Earlier this year it said it had made <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/a961e0b1-0f40-4d21-b34c-c7821e996d47\" style=\"\" rel=\"noopener\">a \u201csignificant\u201d gas discovery<\/a> in the Eastern Mediterranean in cooperation with Chevron. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong> This is the latest investment pledge by a key international oil and gas firm: <\/strong> BP CEO Bernard Looney was in town for talks with El Sisi last week, during which he said the company will <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/f34df404-4426-4113-9e2d-987c4b9a44db\" style=\"\" rel=\"noopener\">invest USD 3.5 bn<\/a> in its Egypt operations over the next three years.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong> The government wants to ramp up exploration efforts: <\/strong> We heard last week that the Oil Ministry is <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/bbb03cc1-4498-4702-b2a9-d439dec237f0\" style=\"\" rel=\"noopener\">planning to launch an international tender<\/a> for 8-10 oil and gas concessions before the end of the year. And we\u2019re still waiting on the results of a tender for 12 exploration blocks <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/2b0c7d75-f265-4f8c-bb07-2c09bdc2d9d7\" style=\"\" rel=\"noopener\">launched back in December<\/a>.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong> Egypt is in need of fresh discoveries: <\/strong> The country\u2019s gas output <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/846ecdd4-0a16-40f5-8c1e-ef52f3265a06\" style=\"\" rel=\"noopener\">fell to a three-year low<\/a> in 2Q 2023 on the back of production declines in the Nile Delta and disruptions at Zohr, which has been reported to be facing <a target=\"_blank\" href=\"https:\/\/www.fitchsolutions.com\/oil-gas\/declining-gas-production-egypt-underlines-need-further-discoveries-18-07-2023\" style=\"\" rel=\"noopener\">water infiltration issues<\/a>. Decreasing gas supplies have contributed to the ongoing electricity shortages, which have caused <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/7db6d0ec-6a2c-429f-b240-a34fa57dfddf\" style=\"\" rel=\"noopener\">rolling blackouts<\/a> across the country since late July.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong> Gas doesn\u2019t just keep the lights on: <\/strong> It\u2019s a key source of hard currency for Egypt, and one whose importance has only grown in light of the ongoing FX crisis.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong> Other companies are prepping their drills: <\/strong><a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/662022a1-010f-4fd8-ae10-d8a8b25a6870\" style=\"\" rel=\"noopener\">BP<\/a>, <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/3fc0de29-51fd-4bab-92a0-27b66b27dfcd\" style=\"\" rel=\"noopener\">ExxonMobil<\/a> and <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/a3d0b10b-f5c1-4dd3-a734-4f2dffed210a\" style=\"\" rel=\"noopener\">Shell<\/a> are among the other companies preparing new exploration drilling campaigns.<\/p>\n\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/energy\/\">energy<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/eni\/\">Eni<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/investment-watch\/\">investment watch<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/oil-and-gas\/\">oil and gas<\/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=\"605643\" 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=\"605643\">\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\">Energy<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2023\/09\/04\/a-new-oil-hedge\/\">\r\n                            Egypt takes out new contracts to hedge against rising oil prices                        <\/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\/09\/04\/a-new-oil-hedge\/\" 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\/09\/04\/a-new-oil-hedge\/')\">\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\/09\/04\/a-new-oil-hedge\/\">\n                    Facebook                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/facebook-icon2.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a target=\"_blank\" href=\"https:\/\/x.com\/intent\/post?text=A new oil hedge&url=https:\/\/enterpriseam.com\/egypt\/2023\/09\/04\/a-new-oil-hedge\/\">\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\/09\/04\/a-new-oil-hedge\/&title=A new oil hedge\">\n                    LinkedIn                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/linkedin-icon.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a href=\"https:\/\/api.whatsapp.com\/send?text=A+new+oil+hedge+https%3A%2F%2Fenterpriseam.com%2Fegypt%2F2023%2F09%2F04%2Fa-new-oil-hedge%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\/09\/04\/a-new-oil-hedge\/\">\r\n                    <div class=\"photo photo--above\">\r\n                        <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2023\/9\/101.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"605644\" data-permalink=\"https:\/\/enterpriseam.com\/egypt\/2023\/09\/04\/a-new-oil-hedge\/101-jpg-14\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2023\/9\/101.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"101.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2023\/9\/101.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2023\/9\/101.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-605643\" class=\"content-area-description single-story post-605643 post type-post status-publish format-standard has-post-thumbnail hentry category-energy tag-energy tag-enterpriseam tag-fuel-hedging tag-oil-and-gas 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\/9\/.077c372d-4e86-4220-a683-aa99ef8cd9df.mp3\"><\/audio><\/figure>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong> More oil hedging: <\/strong>The government has purchased fresh hedging contracts covering 35% of its estimated oil imports for the current fiscal year that ends in June 2024, <a target=\"_blank\" href=\"https:\/\/bit.ly\/45MF2dk\" style=\"\" rel=\"noopener\">As<\/a> <a target=\"_blank\" href=\"https:\/\/bit.ly\/45MF2dk\" style=\"\" rel=\"noopener\">harq Busine<\/a> <a target=\"_blank\" href=\"https:\/\/bit.ly\/45MF2dk\" style=\"\" rel=\"noopener\">ss<\/a> reported yesterday, citing an unnamed senior government official. The contracts lock in crude purchases at around USD 75-80 per barrel, according to the official, below the <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/13f3c00c-17fb-4318-aa0e-219d887c5eca\" style=\"\" rel=\"noopener\">USD 85 per barrel price<\/a> projected in the FY 2023-2024 budget. The government expects the country to import around 100 mn barrels of crude this year. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong> The oil market has been on a tear so far this fiscal year: <\/strong> The price of Brent crude has climbed more than 20% since the end of June on the back of tightening global supply caused by OPEC+ production cuts and rising demand in Asia. Brent rose to its highest level since January last week, closing Friday\u2019s session up 1.9% at USD 88.55 per barrel. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong> Who\u2019s on the other side of the contract? <\/strong>Asharq\u2019s source didn\u2019t disclose which financial institutions the government has signed the contracts with. In previous years, it has signed contracts with Citibank and JPMorgan.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong> REMEMBER- <\/strong>The government\u2019s most recent hedging contracts <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/02970718-9e26-41d0-b258-5aae60c48678\" style=\"\" rel=\"noopener\">reportedly expired<\/a> at the end of last fiscal year. It agreed to purchase hedging contracts in December after the war in Ukraine triggered extreme volatility in the global commodity markets in 2022.<\/p>\n\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/energy\/\">energy<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/fuel-hedging\/\">fuel hedging<\/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                    <\/div>\n    <\/div>\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"605645\" 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=\"605645\">\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\">Startup watch<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2023\/09\/04\/sehatech-closes-usd-850k-pre-seed-round-plus-nagaty-invests-in-nocks\/\">\r\n                            Sehatech closes USD 850k pre-seed round. PLUS: Nagaty invests in Nocks                        <\/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\/09\/04\/sehatech-closes-usd-850k-pre-seed-round-plus-nagaty-invests-in-nocks\/\" 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\/09\/04\/sehatech-closes-usd-850k-pre-seed-round-plus-nagaty-invests-in-nocks\/')\">\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\/09\/04\/sehatech-closes-usd-850k-pre-seed-round-plus-nagaty-invests-in-nocks\/\">\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=Sehatech closes USD 850k pre-seed round. PLUS: Nagaty invests in Nocks&url=https:\/\/enterpriseam.com\/egypt\/2023\/09\/04\/sehatech-closes-usd-850k-pre-seed-round-plus-nagaty-invests-in-nocks\/\">\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\/09\/04\/sehatech-closes-usd-850k-pre-seed-round-plus-nagaty-invests-in-nocks\/&title=Sehatech closes USD 850k pre-seed round. PLUS: Nagaty invests in Nocks\">\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=Sehatech+closes+USD+850k+pre-seed+round.+PLUS%3A+Nagaty+invests+in+Nocks+https%3A%2F%2Fenterpriseam.com%2Fegypt%2F2023%2F09%2F04%2Fsehatech-closes-usd-850k-pre-seed-round-plus-nagaty-invests-in-nocks%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\/09\/04\/sehatech-closes-usd-850k-pre-seed-round-plus-nagaty-invests-in-nocks\/\">\r\n                    <div class=\"photo photo--above\">\r\n                        <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2023\/9\/121.jpeg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"605646\" data-permalink=\"https:\/\/enterpriseam.com\/egypt\/2023\/09\/04\/sehatech-closes-usd-850k-pre-seed-round-plus-nagaty-invests-in-nocks\/121-jpeg\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2023\/9\/121.jpeg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"121.jpeg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2023\/9\/121.jpeg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2023\/9\/121.jpeg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-605645\" class=\"content-area-description single-story post-605645 post type-post status-publish format-standard has-post-thumbnail hentry category-startup-watch tag-a15 tag-alliance-law-firm tag-beltone-financial tag-enterpriseam tag-financial-services tag-healthcare tag-healthtech tag-insurance tag-mohamed-aboulnaga tag-nocks tag-proptech tag-real-estate tag-sehatech tag-startup-watch wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<figure class=\"wp-block-audio mb-0\"><audio controls preload=\"metadata\" src=\"https:\/\/s3.us-east-1.amazonaws.com\/ent.news\/audio\/2023\/9\/.6a3f9bdc-c6d5-419b-b201-453cb9f8b361.mp3\"><\/audio><\/figure>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong> Planet Startup is showing signs of life this morning: <\/strong>After what felt like a very slow summer for fresh funding to our startup scene, two local firms \u2014 one in health ins. and the other in real estate \u2014 bring news of recent raises. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong> Sehatech <\/strong><strong> secures USD 850k in funding: <\/strong>Local healthtech startup <a target=\"_blank\" href=\"https:\/\/www.sehatech.org\/\" style=\"\" rel=\"noopener\">Sehatech<\/a> raised USD 850k in a pre-seed round from VC firm A15 and Beltone Financial\u2019s venture capital arm, Sehatech CEO Mohamed Elshabrawy told Enterprise yesterday. The company declined to discuss specifics of the transaction or of its current operational performance. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong> About Sehatech: <\/strong>Sehatech is a third-party administrator (TPA), an organization that processes ins. claims on behalf of health ins. firms. Its proprietary tech automates claims and billing management between ins. companies and healthcare providers, helping insurers cut losses caused by human error, inefficiency, and fraud, the company said in <a target=\"_blank\" href=\"https:\/\/ent.news\/2023\/9\/66.pdf\" style=\"\" rel=\"noopener\">a<\/a> <a target=\"_blank\" href=\"https:\/\/ent.news\/2023\/9\/66.pdf\" style=\"\" rel=\"noopener\">press<\/a> <a target=\"_blank\" href=\"https:\/\/ent.news\/2023\/9\/66.pdf\" style=\"\" rel=\"noopener\">release (pdf)<\/a>. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong> Where the money\u2019s going: <\/strong>The company will use the fresh capital to \u201cexpand its team, accelerate product development, and enhance customer service,\u201d according to the press release. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong> What they said: <\/strong> \u201cDigitizing the TPA industry will have a significant social impact on the way mns of patients consume healthcare services, making healthcare more accessible and affordable for everyone,\u201d Elshabrawy said in the press release. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong> Advisors: <\/strong> Alliance Law Firm provided legal advice to Sehatech.<\/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> Nagaty backs Nocks: <\/strong>Serial founder Mohamed \u201cNagaty\u201d Aboulnaga (<a target=\"_blank\" href=\"https:\/\/www.linkedin.com\/in\/nagaty\/details\/experience\/\" style=\"\" rel=\"noopener\">LinkedIn<\/a>) has been appointed vice-chairman of high-end real estate startup <a target=\"_blank\" href=\"https:\/\/nocks.app\/\" style=\"\" rel=\"noopener\">Nocks<\/a> after making an equity investment in the company, according to an emailed statement. Nagaty acquired a 10% stake in the firm in a USD transaction, company founder and CEO Mahmoud Bekheit told us yesterday, declining to disclose the value of the transaction.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong> Nocks: <\/strong>The company\u2019s app allows house hunters to buy directly from de velopers and receive reward tokens worth 1% or more of their purchase in return, which they can then redeem with partner companies, according to the startup\u2019s <a target=\"_blank\" href=\"https:\/\/nocks.app\/about-us\/\" style=\"\" rel=\"noopener\">website<\/a>. Nocks was founded by Bekheit (<a target=\"_blank\" href=\"https:\/\/www.linkedin.com\/in\/mahmoud-bekheit-112a1765\/\" style=\"\" rel=\"noopener\">LinkedIn<\/a>) last year. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong> The investor <\/strong><strong> : <\/strong> Nagaty is co-founder and CEO of regional online marketplace Exits (acquired by his M&A advisory outfit Pie Consulting), a co-founder of Halan (now MNT-Halan), and has held positions at Careem, Fawry and Klivvr. He has also made investments in grocery and bakery delivery startup Breadfast and customer loyalty platform Gameball.<\/p>\n\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/a15\/\">A15<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/alliance-law-firm\/\">Alliance Law Firm<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/beltone-financial\/\">Beltone Financial<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/financial-services\/\">financial services<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/healthcare\/\">healthcare<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/healthtech\/\">healthtech<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/insurance\/\">insurance<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/mohamed-aboulnaga\/\">Mohamed Aboulnaga<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/nocks\/\">Nocks<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/proptech\/\">proptech<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/real-estate\/\">real estate<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/sehatech\/\">Sehatech<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/startup-watch\/\">Startup watch<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                    <\/div>\n    <\/div>\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"605647 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=\"605647\">\r\n            \r\n            <div class=\"story__body\">\r\n\r\n                <a href=\"https:\/\/enterpriseam.com\/egypt\/2023\/09\/04\/605647\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-605647\" class=\"content-area-description single-story post-605647 post type-post status-publish format-standard hentry category-advertiser wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<p><span style=\"font-weight:400;\"><a href=\"https:\/\/www.grantthornton.global\/en\/locations\/Egypt\/\" target=\"_blank\" rel=\"noopener\"><img data-recalc-dims=\"1\" decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2023\/3\/674.png?ssl=1\"><\/a><\/span><\/p>\n\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"605648\" 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=\"605648\">\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\">Moves<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2023\/09\/04\/mashreq-egypt-appoints-mohamed-talaat-as-head-of-retail-banking\/\">\r\n                            Mashreq Egypt appoints Mohamed Talaat as head of retail banking                        <\/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\/09\/04\/mashreq-egypt-appoints-mohamed-talaat-as-head-of-retail-banking\/\" target=\"_blank\">\n                    Open in new tab                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/new-tab.svg\" alt=\"\"> -->\n                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href=\"https:\/\/api.whatsapp.com\/send?text=Mashreq+Egypt+appoints+Mohamed+Talaat+as+head+of+retail+banking+https%3A%2F%2Fenterpriseam.com%2Fegypt%2F2023%2F09%2F04%2Fmashreq-egypt-appoints-mohamed-talaat-as-head-of-retail-banking%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\/09\/04\/mashreq-egypt-appoints-mohamed-talaat-as-head-of-retail-banking\/\">\r\n                    <div class=\"photo photo--above\">\r\n                        <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2023\/9\/46.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"605649\" data-permalink=\"https:\/\/enterpriseam.com\/egypt\/2023\/09\/04\/mashreq-egypt-appoints-mohamed-talaat-as-head-of-retail-banking\/46-jpg-21\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2023\/9\/46.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"46.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2023\/9\/46.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2023\/9\/46.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-605648\" class=\"content-area-description single-story post-605648 post type-post status-publish format-standard has-post-thumbnail hentry category-moves tag-banking tag-enterpriseam tag-mashreq-bank tag-mohamed-talaat 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\/9\/.3b0d84be-6751-4412-be6e-fcb42fcc8860.mp3\"><\/audio><\/figure>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong> Mashreq Egypt <\/strong>has appointed <strong> Mohamed Talaat <\/strong>(<a target=\"_blank\" href=\"https:\/\/www.linkedin.com\/in\/mohamed-talaat-607a1742\/\" style=\"\" rel=\"noopener\">LinkedIn<\/a>) as its <strong> head of retail <\/strong><strong> banking<\/strong>, it said in <a target=\"_blank\" href=\"https:\/\/ent.news\/2023\/9\/38.pdf\" style=\"\" rel=\"noopener\">a statement (<\/a> <a target=\"_blank\" href=\"https:\/\/ent.news\/2023\/9\/38.pdf\" style=\"\" rel=\"noopener\">pdf<\/a> <a target=\"_blank\" href=\"https:\/\/ent.news\/2023\/9\/38.pdf\" style=\"\" rel=\"noopener\">)<\/a> last week. Talaat returns to Mashreq after nearly five years away from the bank, during which he worked first as head of retail products at First Abu Dhabi Bank and then as head of retail and as CCO at Misr Digital Innovation, the digital arm of Banque Misr. Talaat has more than 20 years of experience in working in business, credit risk, and finance, and has worked extensively on digital transformation in the banking industry.<\/p>\n\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/banking\/\">banking<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/mashreq-bank\/\">Mashreq Bank<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/mohamed-talaat\/\">Mohamed Talaat<\/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=\"605650 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=\"605650\">\r\n            \r\n            <div class=\"story__body\">\r\n\r\n                <a href=\"https:\/\/enterpriseam.com\/egypt\/2023\/09\/04\/605650\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-605650\" class=\"content-area-description single-story post-605650 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\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=\"605651\" 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=\"605651\">\r\n            \r\n                <div class=\"issue-story-header text-center\">\r\n                    <div class=\"index-number\">7<\/div>\r\n\r\n                    <p class=\"f-graphik\">LAST NIGHT\u2019S TALK SHOWS<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2023\/09\/04\/eastern-eni-dominate-business-coverage-on-the-nations-talk-shows\/\">\r\n                            Eastern + Eni dominate business coverage on the Egypt\u2019s 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\/09\/04\/eastern-eni-dominate-business-coverage-on-the-nations-talk-shows\/\" target=\"_blank\">\n                 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src=\"https:\/\/i0.wp.com\/ent.news\/2023\/9\/99.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"605652\" data-permalink=\"https:\/\/enterpriseam.com\/egypt\/2023\/09\/04\/eastern-eni-dominate-business-coverage-on-the-nations-talk-shows\/99-jpg-15\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2023\/9\/99.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"99.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2023\/9\/99.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2023\/9\/99.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-605651\" class=\"content-area-description single-story post-605651 post type-post status-publish format-standard has-post-thumbnail hentry category-last-nights-talk-shows tag-eastern-company tag-energy tag-eni tag-enterpriseam tag-last-nights-talk-shows tag-oil-and-gas tag-state-privatization-program 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\/9\/.db017d52-9296-40ef-87ed-441422f3ec9b.mp3\"><\/audio><\/figure>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong> Another slow night on the airwaves: <\/strong>The only business \/ econ-related news on the airwaves last night was provided by Ala Mas\u2019ouleety host Ahmed Moussa, who spoke to the spokespeople from the oil and public enterprises ministries about Eni\u2019s investment plans and the partial privatization of Eastern Company (more on both of those stories in the news well, above).<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong> Timing the Eastern sale: <\/strong>The quick timing of announcing the Eastern Company stake sale a few days after the government updated the state ownership policy sends a positive message to investors,Public Enterprises Ministry spokesperson Mansour Abel Ghani said on the program (<a target=\"_blank\" href=\"https:\/\/www.youtube.com\/watch?v=fQ8qgV5Hg9g\" style=\"\" rel=\"noopener\">watch runtime: 13:25<\/a>).<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong> Cheer up, smokers: <\/strong> The additional USD 150 mn provided as part of the acquisition agreement \u201cwill be used to significantly up production and overflow the market with 10 mn packs a day or more to end the current market shortage and price manipulation by local retailers,\u201d he said. There will be no imminent official price hikes to tobacco products, he added. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong> Eni\u2019s investment pledge: <\/strong>Oil Ministry spokesperson Hamdy Abel Aziz appeared on the show to discuss Eni\u2019s announcement that it will invest USD 7.7 bn alongside its partners in its Egypt operations over four years (watch runtime: <a target=\"_blank\" href=\"https:\/\/www.youtube.com\/watch?v=uSrEpFtUz9c\" style=\"\" rel=\"noopener\">3:28<\/a> | <a target=\"_blank\" href=\"https:\/\/www.youtube.com\/watch?v=I77-4V9Kcew\" style=\"\" rel=\"noopener\">3:18<\/a>). <\/p>\n\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/eastern-company\/\">Eastern Company<\/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\/eni\/\">Eni<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/last-nights-talk-shows\/\">LAST NIGHT\u2019S TALK SHOWS<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/oil-and-gas\/\">oil and gas<\/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                    <\/div>\n    <\/div>\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"605653\" class=\"issue-section \">\n<div class=\"issue-section__content\">\n<div class=\"stories\">      \r\n<section id=\"advertiser\" class=\"enterprise-adv issue-section\">\r\n    <div class=\"issue-section__content\" style=\"flex-direction: column;\">\r\n  \r\n                <h4 class=\"wp-block-heading has-text-align-center has-normal-font-size\">\r\n                <span class=\"has-primary-color stk-highlight\">This publication is proudly sponsored by<\/span><\/h4>\r\n                \r\n\r\n                \r\n                <div class=\"wp-block-stackable-carousel alignwide stk-block-carousel stk--is-slide stk--infinite-scroll stk--arrows-justify-space-between stk--arrows-align-center stk-block stk-a38cfb2 sponsor-slider-container mb-0\" data-slides-to-show=\"3\" data-block-id=\"a38cfb2\"><style>.stk-a38cfb2 {--slides-to-show:3 !important;}.stk-a38cfb2 .stk-block-carousel__button{background:#00000099 !important;fill:#FFFFFF !important;border-radius:4px !important;}.stk-a38cfb2 .stk-block-carousel__button svg.ugb-custom-icon :is(g, path, rect, polygon, ellipse){fill:#FFFFFF !important;}<\/style>\r\n                <div class=\"stk-block-carousel__content-wrapper\">\r\n                <div class=\"stk-row stk-inner-blocks stk-block-content stk-block-carousel__slider-wrapper stk-content-align stk-a38cfb2-column alignwide\">\r\n                <div class=\"stk-block-carousel__slider\" role=\"list\" data-autoplay=\"4000\" data-label-slide-of=\"Slide %%d of %%d\">\r\n            <div class=\"wp-block-stackable-column stk-block-column stk-column stk-block stk-46c5f99\" data-v=\"4\" data-block-id=\"46c5f99\"><div class=\"stk-column-wrapper stk-block-column__content stk-container stk-46c5f99-container stk--no-background stk--no-padding\"><div class=\"stk-block-content stk-inner-blocks stk-46c5f99-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\/240922.png?ssl=1\">\r\n                <div class=\"overlay\"><\/div>\r\n                <div class=\"content\">\r\n                    <a draggable=\"false\" href=\"https:\/\/www.hsbc.com.eg\/\" target=\"_blank\" class=\"logo\" rel=\"noopener\">\r\n                        <img decoding=\"async\" draggable=\"false\" src=\"https:\/\/ent.news\/internal\/27489.svg\" alt=\"\">\r\n                    <\/a>\r\n                    <span>Opening up a world of opportunity<\/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-tu2db16\" data-v=\"4\" data-block-id=\"tu2db16\"><div 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stk-block-column stk-column stk-block stk-q9uo8k3\" data-v=\"4\" data-block-id=\"q9uo8k3\"><div class=\"stk-column-wrapper stk-block-column__content stk-container stk-q9uo8k3-container stk--no-background stk--no-padding\"><div class=\"stk-block-content stk-inner-blocks stk-q9uo8k3-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\/240924.png?ssl=1\">\r\n                <div class=\"overlay\"><\/div>\r\n                <div class=\"content\">\r\n                    <a draggable=\"false\" href=\"https:\/\/www.sodic.com\/\" target=\"_blank\" class=\"logo\" rel=\"noopener\">\r\n                        <img decoding=\"async\" draggable=\"false\" src=\"https:\/\/ent.news\/internal\/27487.svg\" alt=\"\">\r\n                    <\/a>\r\n                    <span>Live More<\/span>\r\n                <\/div>\r\n            <\/div>\r\n            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      <\/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-0lkhcdh\" data-v=\"4\" data-block-id=\"0lkhcdh\"><div class=\"stk-column-wrapper stk-block-column__content stk-container stk-0lkhcdh-container stk--no-background stk--no-padding\"><div class=\"stk-block-content stk-inner-blocks stk-0lkhcdh-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\" href=\"https:\/\/www.qalaaholdings.com\/\" target=\"_blank\" class=\"logo\" rel=\"noopener\">\r\n                        <img decoding=\"async\" draggable=\"false\" src=\"https:\/\/ent.news\/internal\/110691.svg\" alt=\"\">\r\n                    <\/a>\r\n                    <span>Driving growth<\/span>\r\n                <\/div>\r\n            <\/div>\r\n            <\/div><\/div><\/div>\r\n        <\/div><div class=\"stk-block-carousel__buttons\"><button class=\"stk-block-carousel__button stk-block-carousel__button__prev\" aria-label=\"Previous slide\"><svg aria-hidden=\"true\" focusable=\"false\" data-prefix=\"fas\" data-icon=\"chevron-left\" class=\"svg-inline--fa fa-chevron-left\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" viewBox=\"0 0 320 512\" width=\"32\" height=\"32\"><path d=\"M34.52 239.03L228.87 44.69c9.37-9.37 24.57-9.37 33.94 0l22.67 22.67c9.36 9.36 9.37 24.52.04 33.9L131.49 256l154.02 154.75c9.34 9.38 9.32 24.54-.04 33.9l-22.67 22.67c-9.37 9.37-24.57 9.37-33.94 0L34.52 272.97c-9.37-9.37-9.37-24.57 0-33.94z\"><\/path><\/svg><\/button><button class=\"stk-block-carousel__button stk-block-carousel__button__next\" aria-label=\"Next slide\"><svg aria-hidden=\"true\" focusable=\"false\" data-prefix=\"fas\" data-icon=\"chevron-right\" class=\"svg-inline--fa fa-chevron-right\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" viewBox=\"0 0 320 512\" width=\"32\" height=\"32\"><path d=\"M285.476 272.971L91.132 467.314c-9.373 9.373-24.569 9.373-33.941 0l-22.667-22.667c-9.357-9.357-9.375-24.522-.04-33.901L188.505 256 34.484 101.255c-9.335-9.379-9.317-24.544.04-33.901l22.667-22.667c9.373-9.373 24.569-9.373 33.941 0L285.475 239.03c9.373 9.372 9.373 24.568.001 33.941z\"><\/path><\/svg><\/button><\/div><\/div><div class=\"stk-block-carousel__dots\" role=\"list\" data-label=\"Slide %%d\"><\/div><\/div><\/div>\r\n        <\/div>\r\n<\/section> \r\n\r\n\n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"605654\" 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=\"605654\">\r\n            \r\n                <div class=\"issue-story-header text-center\">\r\n                    <div class=\"index-number\">8<\/div>\r\n\r\n                    <p class=\"f-graphik\">EGYPT IN THE NEWS<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2023\/09\/04\/the-changing-face-of-cairo-tops-coverage-of-egypt-in-the-international-press\/\">\r\n                            The changing face of Cairo tops coverage of Egypt in the international press                        <\/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 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<\/ul>\n    <\/div>\n        <\/div>\r\n                    \r\n                <\/div>\r\n\r\n            \r\n            <div class=\"story__body\">\r\n\r\n                <a href=\"https:\/\/enterpriseam.com\/egypt\/2023\/09\/04\/the-changing-face-of-cairo-tops-coverage-of-egypt-in-the-international-press\/\">\r\n                    <div class=\"photo photo--above\">\r\n                        <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2023\/9\/93.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"605655\" data-permalink=\"https:\/\/enterpriseam.com\/egypt\/2023\/09\/04\/the-changing-face-of-cairo-tops-coverage-of-egypt-in-the-international-press\/93-jpg-19\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2023\/9\/93.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"93.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2023\/9\/93.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2023\/9\/93.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-605654\" class=\"content-area-description single-story post-605654 post type-post status-publish format-standard has-post-thumbnail hentry category-egypt-in-the-news tag-enterpriseam tag-history tag-tourism 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\/9\/.4337dc04-2437-44a9-bcef-49f0d38a9bcf.mp3\"><\/audio><\/figure>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong> The tension between preservation and destruction of Cairo\u2019s history is the theme in the foreign press this <\/strong><strong> morning <\/strong> as <a target=\"_blank\" href=\"https:\/\/www.haaretz.com\/middle-east-news\/egypt\/2023-09-03\/ty-article\/.premium\/no-jews-in-attendance-as-egypt-celebrates-restoration-of-famous-synagogue\/0000018a-5a4e-d252-abdf-5b6e51350000\" style=\"\" rel=\"noopener\">Haaretz<\/a> reports on the completion of the Ben Ezra Synagogue restoration and <a target=\"_blank\" href=\"https:\/\/www.thenationalnews.com\/mena\/2023\/09\/03\/demolitions-of-cairos-al-qarafa-cemetery-come-with-high-human-and-cultural-cost\/\" style=\"\" rel=\"noopener\">the National<\/a> becomes the latest to cover the ongoing demolition of parts of the City of Dead to make way for new freeways.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong> ALSO- <\/strong><strong><a target=\"_blank\" href=\"https:\/\/www.nationalgeographic.com\/travel\/article\/how-to-spend-a-day-in-cairo-egypt\" style=\"\" rel=\"noopener\">NatGeo<\/a><\/strong><strong> has put together a jam-packed 24-hour Cairo itinerary for tourists<\/strong>, feat. the obligatory pyramids trip, Coptic and Islamic Cairo, and koshary. <\/p>\n\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/history\/\">History<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/tourism\/\">tourism<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                    <\/div>\n    <\/div>\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"605656\" 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=\"605656\">\r\n            \r\n                <div class=\"issue-story-header text-center\">\r\n                    <div class=\"index-number\">9<\/div>\r\n\r\n                    <p class=\"f-graphik\">Also on our Radar<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2023\/09\/04\/eagle-hills-signs-up-hassan-allam-to-work-on-new-north-coast-development-plus-new-anti-money-laundering-regs-news-from-madinet-masr-misr-life-insurance-and-saib\/\">\r\n                            Eagle Hills signs up Hassan Allam to work on new North Coast development. PLUS: New anti-money laundering regs + news from Madinet Masr, Misr Life Insurance and SAIB.                        <\/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\/09\/04\/eagle-hills-signs-up-hassan-allam-to-work-on-new-north-coast-development-plus-new-anti-money-laundering-regs-news-from-madinet-masr-misr-life-insurance-and-saib\/\" 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\/09\/04\/eagle-hills-signs-up-hassan-allam-to-work-on-new-north-coast-development-plus-new-anti-money-laundering-regs-news-from-madinet-masr-misr-life-insurance-and-saib\/')\">\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\/09\/04\/eagle-hills-signs-up-hassan-allam-to-work-on-new-north-coast-development-plus-new-anti-money-laundering-regs-news-from-madinet-masr-misr-life-insurance-and-saib\/\">\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=Eagle Hills signs up Hassan Allam to work on new North Coast development. PLUS: New anti-money laundering regs + news from Madinet Masr, Misr Life Insurance and SAIB.&url=https:\/\/enterpriseam.com\/egypt\/2023\/09\/04\/eagle-hills-signs-up-hassan-allam-to-work-on-new-north-coast-development-plus-new-anti-money-laundering-regs-news-from-madinet-masr-misr-life-insurance-and-saib\/\">\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\/09\/04\/eagle-hills-signs-up-hassan-allam-to-work-on-new-north-coast-development-plus-new-anti-money-laundering-regs-news-from-madinet-masr-misr-life-insurance-and-saib\/&title=Eagle Hills signs up Hassan Allam to work on new North Coast development. PLUS: New anti-money laundering regs + news from Madinet Masr, Misr Life Insurance and SAIB.\">\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=Eagle+Hills+signs+up+Hassan+Allam+to+work+on+new+North+Coast+development.+PLUS%3A+New+anti-money+laundering+regs+%2B+news+from+Madinet+Masr%2C+Misr+Life+Insurance+and+SAIB.+https%3A%2F%2Fenterpriseam.com%2Fegypt%2F2023%2F09%2F04%2Feagle-hills-signs-up-hassan-allam-to-work-on-new-north-coast-development-plus-new-anti-money-laundering-regs-news-from-madinet-masr-misr-life-insurance-and-saib%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\/09\/04\/eagle-hills-signs-up-hassan-allam-to-work-on-new-north-coast-development-plus-new-anti-money-laundering-regs-news-from-madinet-masr-misr-life-insurance-and-saib\/\">\r\n                    <div class=\"photo photo--above\">\r\n                        <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2023\/9\/89.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"605657\" data-permalink=\"https:\/\/enterpriseam.com\/egypt\/2023\/09\/04\/eagle-hills-signs-up-hassan-allam-to-work-on-new-north-coast-development-plus-new-anti-money-laundering-regs-news-from-madinet-masr-misr-life-insurance-and-saib\/89-jpg-23\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2023\/9\/89.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"89.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2023\/9\/89.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2023\/9\/89.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-605656\" class=\"content-area-description single-story post-605656 post type-post status-publish format-standard has-post-thumbnail hentry category-also-on-our-radar tag-afreximbank tag-also-on-our-radar tag-anti-money-laundering-act-2 tag-asec-automation tag-eagle-hills tag-egypt-aluminum tag-egyptian-competition-authority tag-enterpriseam tag-financial-services tag-hassan-allam-construction tag-hassan-allam-holding tag-insurance tag-misr-life-insurance tag-mohamed-alabbar tag-moustafa-madbouly tag-new-administrative-capital tag-non-banking-financial-services tag-qalaa-holdings tag-real-estate tag-regulation tag-saib-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\/9\/.4337dc04-2437-44a9-bcef-49f0d38a9bcf.mp3\"><\/audio><\/figure>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong> REAL ESTATE- <\/strong><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"> <strong> Eagle Hills x Hassan Allam: <\/strong>Emirati real estate developer Eagle Hills Properties has awarded our friends at Hassan Allam Construction an EGP 1.97 bn contract to build two areas in the first phase of its <a target=\"_blank\" href=\"https:\/\/www.emaarmisr.com\/en\/our-communities\/soul\/\" style=\"\" rel=\"noopener\">Soul Luxury Beach Resort<\/a> on the North Coast, it said in <a target=\"_blank\" href=\"https:\/\/ent.news\/2023\/9\/44.pdf\" style=\"\" rel=\"noopener\">a statement<\/a> <a target=\"_blank\" href=\"https:\/\/ent.news\/2023\/9\/44.pdf\" style=\"\" rel=\"noopener\">(pdf)<\/a>. The two areas are expected to take just over 2.5 years to build. Eagle Hills, which is owned by Emaar Properties founder Mohamed Alabbar, last week <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/662022a1-010f-4fd8-ae10-d8a8b25a6870\" style=\"\" rel=\"noopener\">inked a similar contract with Orascom Construction<\/a> for the construction of two other areas in Soul\u2019s first phase.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong> Madinet Masr x ASEC Automation: <\/strong> Madinet Masr has signed an MoU with Qalaa Holdings subsidiary <a target=\"_blank\" href=\"http:\/\/www.asecautomation.com\/\" style=\"\" rel=\"noopener\">ASEC Automation<\/a> to build the infrastructure and road network for the <a target=\"_blank\" href=\"https:\/\/www.madinetmasr.com\/cavana\" style=\"\" rel=\"noopener\">C<\/a> <a target=\"_blank\" href=\"https:\/\/www.madinetmasr.com\/cavana\" style=\"\" rel=\"noopener\">avana proj<\/a> <a target=\"_blank\" href=\"https:\/\/www.madinetmasr.com\/cavana\" style=\"\" rel=\"noopener\">ect<\/a> at its Sarai development in New Cairo, the real estate developer said in <a target=\"_blank\" href=\"https:\/\/ent.news\/2023\/9\/58.pdf\" style=\"\" rel=\"noopener\">a statement<\/a> <a target=\"_blank\" href=\"https:\/\/ent.news\/2023\/9\/58.pdf\" style=\"\" rel=\"noopener\">(pdf)<\/a> Thursday. The project will cost an estimated EGP 100 mn and is set to be completed within 12 months.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong> COMPETITION- <\/strong><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"> <strong> EgyptAlum + Arab Aluminum distance themselves from price gouging allegations: <\/strong>Local aluminum firms EgyptAlum and Arab Aluminium have released statements \u2014 <a target=\"_blank\" href=\"https:\/\/ent.news\/2023\/9\/75.PDF\" style=\"\" rel=\"noopener\">here (pdf)<\/a> and <a target=\"_blank\" href=\"https:\/\/ent.news\/2023\/9\/74.pdf\" style=\"\" rel=\"noopener\">here (pdf)<\/a> \u2014 stating that they are not among 14 companies being sued by the Egyptian Competition Authority (ECA) over alleged price-fixing. The ECA <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/70c6f14e-f08a-4718-9c19-253ced03c515\" style=\"\" rel=\"noopener\">recently reportedly filed charges<\/a> against 14 aluminum companies, accusing them of collaborating to fix the price of the metal.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong> REGULATION- <\/strong><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"> <strong> The government\u2019s anti-money laundering unit is getting new powers: <\/strong>Prime Minister Moustafa Madbouly has approved amendments to the executive regulations of the Anti Money Laundering Act that empower the government\u2019s AML and terrorism funding unit, <a target=\"_blank\" href=\"https:\/\/tinyurl.com\/yunyvdhf\" style=\"\" rel=\"noopener\">Al Mal<\/a> reports. The unit will be put in charge of implementing the law, including by deciding the legal requirements to be imposed on financial institutions and businesses, and handling interagency communications.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong> NBFS- <\/strong><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong> Misr Life Ins. x SAIB: <\/strong> Misr Life Ins. has signed an agreement with Saudi lender SAIB that allows it to offer its ins. and investment products to the bank's clients via its branches across the country, according to <a target=\"_blank\" href=\"https:\/\/bit.ly\/44EwrIu\" style=\"\" rel=\"noopener\">Al Mal<\/a>.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong> NEW CAPITAL- <\/strong><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong> Afreximbank is setting up in the NAC: <\/strong>The African Export-Import Bank (Afreximbank) has signed a USD 32 mn contract with the developer of the new administrative capital to purchase a 50k sqm land plot for its new Egypt headquarters, the Foreign Ministry <a target=\"_blank\" href=\"https:\/\/bit.ly\/45SuHMW\" style=\"\" rel=\"noopener\">said<\/a> yesterday.<\/p>\n\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/afreximbank\/\">AfreximBank<\/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\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/anti-money-laundering-act-2\/\">Anti Money Laundering Act<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/asec-automation\/\">ASEC Automation<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/eagle-hills\/\">Eagle Hills<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/egypt-aluminum\/\">Egypt Aluminum<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/egyptian-competition-authority\/\">Egyptian Competition Authority<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/financial-services\/\">financial services<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/hassan-allam-construction\/\">Hassan Allam Construction<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/hassan-allam-holding\/\">Hassan Allam Holding<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/insurance\/\">insurance<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/misr-life-insurance\/\">Misr Life Insurance<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/mohamed-alabbar\/\">Mohamed Alabbar<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/moustafa-madbouly\/\">Moustafa Madbouly<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/new-administrative-capital\/\">new administrative capital<\/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\/qalaa-holdings\/\">Qalaa Holdings<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n     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     \r\n                <div class=\"issue-story-header text-center\">\r\n                    <div class=\"index-number\">10<\/div>\r\n\r\n                    <p class=\"f-graphik\">PLANET FINANCE<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2023\/09\/04\/the-saudi-sovereign-wealth-fund-is-creating-a-national-champion-in-its-steel-industry\/\">\r\n                            The Saudi sovereign wealth fund is creating a national champion in its steel industry                        <\/a>\r\n                    <\/h3>\r\n\r\n                    \r\n\t\t\t\t\t\n<div class=\"cta\">\n    <div class=\"cta__btn share-dropdown-cta dropdown-toggle-btn\" style=\"position:relative\">\n        <img decoding=\"async\" src=\"https:\/\/ent.news\/internal\/408834.svg\" alt=\"\">\n        Share Story\n        <!-- Dropdown Menu -->\n        <ul class=\"share-menu\">\n            <li class=\"list-inline-item\">\n         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data-image-title=\"91.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2023\/9\/91.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2023\/9\/91.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-605658\" class=\"content-area-description single-story post-605658 post type-post status-publish format-standard has-post-thumbnail hentry category-planet-finance tag-al-rajhi-steel tag-enterpriseam tag-financial-markets tag-planet-finance tag-public-investment-fund tag-sabic tag-saudi-arabia tag-saudi-iron-steel 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\/9\/.ac21e15b-965f-4695-85e9-6e5189fcd4e8.mp3\"><\/audio><\/figure><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"> <strong> Saudi sovereign wealth fund\u2019s steel takeover: <\/strong>The Public Investment Fund (PIF) is on course to take over two of Saudi Arabia\u2019s largest steel producers as it looks to create a giant \u201cnational champion,\u201d it said in <a target=\"_blank\" href=\"https:\/\/bit.ly\/44BCa1V\" style=\"\" rel=\"noopener\">a statement<\/a> yesterday. The wealth fund will take control of Sabic\u2019s metals unit, Saudi Iron &amp; Steel Company (Hadeed), and Al Rajhi Steel Industries after signing agreements for several transactions.<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong> Here\u2019s what\u2019s happening: <\/strong><\/p><ul>\n<li><strong> The PIF <\/strong> will acquire 100% of <strong> Hadeed <\/strong> in a transaction giving it an enterprise value of SAR 12.5 bn (USD 3.3 bn). (<a target=\"_blank\" href=\"https:\/\/bit.ly\/44BCa1V\" style=\"\" rel=\"noopener\">Sabic stock exchange f<\/a> <a target=\"_blank\" href=\"https:\/\/bit.ly\/44BCa1V\" style=\"\" rel=\"noopener\">ilin<\/a> <a target=\"_blank\" href=\"https:\/\/bit.ly\/44BCa1V\" style=\"\" rel=\"noopener\">g, pdf<\/a>)<\/li>\n<li><strong> Hadeed <\/strong> will acquire 100% of <strong> Al Rajhi Steel Industries <\/strong> in a share swap transaction. (<a target=\"_blank\" href=\"https:\/\/www.sabic.com\/en\/news\/41816-pif-sabic-and-rajhi-invest-announce-national-champion-in-the-saudi-arabian-steel-industry\" style=\"\" rel=\"noopener\">PIF statement<\/a>)<\/li>\n<li>The transaction is expected to close by the end of 1Q 2024, which is when the final sale price will be announced.<\/li>\n<\/ul><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong> ALSO FROM THE PIF- <\/strong>The PIF has sold its entire 10.9% stake in the country\u2019s National Gas and Industrialization Company (GASCO) to Saudi investment management firm <a target=\"_blank\" href=\"https:\/\/www.jadwa.com\/\" style=\"\" rel=\"noopener\">Jadwa<\/a> for some SAR 491.2 mn (c. USD 130.4 mn). GIB Capital was the sell-side financial advisor. (<a target=\"_blank\" href=\"https:\/\/bit.ly\/480sMHT\" style=\"\" rel=\"noopener\">GIB Capi<\/a> <a target=\"_blank\" href=\"https:\/\/bit.ly\/480sMHT\" style=\"\" rel=\"noopener\">tal stock exchan<\/a> <a target=\"_blank\" href=\"https:\/\/bit.ly\/480sMHT\" style=\"\" rel=\"noopener\">ge filing<\/a>)<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong> Prudential looks to Africa: <\/strong>British ins. Firm Prudential is pivoting to African markets after exiting the US and Europe to refocus on Asia. \u201cWe believe that over a period of time, Africa will provide us with [Asia\u2019s] growth opportunity, as the markets mature, as the customers get a lot more aware of wanting and needing ins. as part of their protection, health coverage, as well as savings needs,\u201d the company\u2019s new CEO, Anil Wadhwani, told the <a target=\"_blank\" href=\"https:\/\/www.ft.com\/content\/31e842e3-76f7-4794-a142-1bb5ad50f882\" style=\"\" rel=\"noopener\">Financial Times<\/a>. The FTSE 100 insurer is already present in eight African markets including Ghana, Kenya, Uganda, and Zambia. <\/p><p><a target=\"_blank\" id=\"t.b04cd13a500ea5b4e2c26c1d4dc53beb02f85a7e\" 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\">18,726<\/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: +28.3%)<\/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\">11,456<\/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: +9.3%)<\/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\">9,787<\/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\">-0.2% (YTD: -4.2%)<\/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\">4,090<\/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\">+0.2% (YTD: +22.6%)<\/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> 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\">4,516<\/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\">+0.2% (YTD: +17.6%)<\/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> 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\">7,465<\/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: +0.2%)<\/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> 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\">4,283<\/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: +12.9%)<\/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> Brent 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 88.55<\/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\">+2.0%<\/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> 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 2.77<\/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%<\/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 1,967.10<\/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%<\/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> 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 26,029<\/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: +57.5%)<\/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 0.8% at yesterday\u2019s close <\/strong> on turnover of EGP 1.62 bn (23% below the 90-day average). Regional investors were net buyers. The index is up 28.3% YTD.<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong> In the green: <\/strong> Eastern Company (+5.9%), CIRA Education (+2.0%) and Alexandria Mineral Oils Company (+0.9%).<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong> In the red: <\/strong>Elsewedy Electric (-3.7%), Alexandria Containers and Cargo Handling (-2.7%) and Abu Dhabi Islamic Bank (-2.7%).<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong> Asian markets are mixed in quiet trading early in today\u2019s session. <\/strong>US and Canadian traders are off today for the annual Labor Day holiday. <\/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\/al-rajhi-steel\/\">Al Rajhi Steel<\/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\/planet-finance\/\">Planet Finance<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/public-investment-fund\/\">Public Investment Fund<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/sabic\/\">Sabic<\/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\/saudi-iron-steel\/\">Saudi Iron &amp; Steel<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                    <\/div>\n    <\/div>\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<div class=\"alignfull vertical-section wide-section blackboard wp-block-group issue-section\" id=\"605660\">\r\n    <div class=\"issue-section__content\">\r\n        <div class=\"alignwide wp-block-columns\">\r\n            <div class=\"wp-block-column sidebar-vertical-info\" style=\"flex-basis:22.8%\">\r\n                <figure class=\"wp-block-image size-full\">\r\n                                            <img decoding=\"async\" src=\"https:\/\/s3.amazonaws.com\/resources.inktankir.com\/internal\/27466.svg\" style=\"width:80%\" alt=\"\" >\r\n                                    <\/figure>\r\n                <p>\r\n                    Our weekly deep dive into education in Egypt, from K-12 to post-secondary.                <\/p>\r\n                <figure class=\"wp-block-image size-full mt-0 mb-0 img-white-bg\"><img decoding=\"async\" src=\"https:\/\/s3.amazonaws.com\/resources.inktankir.com\/internal\/27480.svg\" alt=\"\"><\/figure>\r\n                <p class=\"has-text-color has-link-color\">\r\n                    Published every Monday in EnterpriseAM.                <\/p>\r\n                <div class=\"wp-block-buttons mt-0\">\r\n                    <div class=\"wp-block-button\">\r\n                        <a class=\"wp-block-button__link has-background wp-element-button\" href=\"https:\/\/enterpriseam.com\/egypt\/blackboard\/\">\r\n                            Read Blackboard                        <\/a>\r\n                    <\/div>\r\n                <\/div>\r\n            <\/div>\r\n            <div class=\"wp-block-column issue-section\">\r\n                <div class=\"story-section\">\r\n                    <div class=\"issue-story-header text-center\">\r\n                        <div class=\"index-number\">11<\/div>\r\n\r\n                        <p class=\"f-graphik\">BLACKBOARD<\/p>\r\n                        <h3 class=\"story-title\"><a href=\"https:\/\/enterpriseam.com\/egypt\/blackboards\/the-government-wants-more-bilingual-students-at-public-schools-heres-how-theyre-doing-it\/\">\r\n                            The government wants more bilingual students at public schools. Here\u2019s how they\u2019re doing it<\/a>\r\n                        <\/h3>\r\n                        \r\n\t\t\t\t\t\n<div class=\"cta\">\n    <div class=\"cta__btn share-dropdown-cta dropdown-toggle-btn\" style=\"position:relative\">\n        <img decoding=\"async\" src=\"https:\/\/ent.news\/internal\/408834.svg\" alt=\"\">\n        Share Story\n        <!-- Dropdown Menu -->\n        <ul class=\"share-menu\">\n            <li class=\"list-inline-item\">\n                <a href=\"https:\/\/enterpriseam.com\/egypt\/blackboards\/the-government-wants-more-bilingual-students-at-public-schools-heres-how-theyre-doing-it\/\" 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\/blackboards\/the-government-wants-more-bilingual-students-at-public-schools-heres-how-theyre-doing-it\/')\">\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\/blackboards\/the-government-wants-more-bilingual-students-at-public-schools-heres-how-theyre-doing-it\/\">\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 government wants more bilingual students at public schools. 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We spoke with officials at the Education Ministry and French and German embassies to find out how they are boosting the teaching of foreign languages at Egyptian public schools.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong> Expect changes next academic year: <\/strong>The new curriculum will not be implemented until the 2024-2025 academic year, giving the ministry time to develop the necessary infrastructure in schools to teach the languages and to make sure that the teachers are qualified prior to implementation, our sources at the ministry confirmed. A \u201clarge number of teachers\u201d have been invited to attend the AUC\u2019s one-year qualification program through an educational scholarship, our sources said.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong> More details to come: <\/strong>While the programs are still in their early stages and details on the nature of the curricula are still being ironed out, specialized committees of foreign language teaching advisors from the Education Ministry will set the general framework for the implementation of teaching foreign languages. The ministry has a plan to hire close to 30k new public school teachers to bridge the deficit in all educational subjects, including new languages, according to our sources. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong> Sprichst du Deutsch? <\/strong>Offering German in public schools meets an existing demand, as an attractive location for Egyptian students and job-hunters, an official at the German Embassy told Enterprise, with the provision of German in public schools reducing financial barriers and expanding Egyptian student\u2019s access to language. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong> Where teachers are going for German-language teaching skills: <\/strong>The <a target=\"_blank\" href=\"https:\/\/www.goethe.de\/en\/spr\/unt.html\" style=\"\" rel=\"noopener\">Goethe Institut<\/a>(GI) offers in-service training for practicing Egyptian German teachers, as part of a cooperation between the Egyptian Education Ministry to boost German-language education at public schools. Teachers can follow the GI\u2019s worldwide DLL teacher training program, which consists of six modules over an eight-week period of online and self-study through the GI learning platform.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong> Public-sector focused learning: <\/strong> The GI also trains in-service teachers from six public sector schools through the German Foreign Offices\u2019 initiative, Schools: Partners for the Future (<a target=\"_blank\" href=\"https:\/\/www.goethe.de\/en\/spr\/eng\/pas.html\" style=\"\" rel=\"noopener\">PASCH<\/a>), launched in 2008. The curriculum follows didactic topics preparing students for the Goethe-Institut examinations at the GI locations in Cairo and Alexandria.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong> Funding is up for grabs: <\/strong> GI scholarships are on offer for teachers to enhance their German language skills, as are PASCH scholarships for language learning. Egyptian teachers working at public schools are eligible for full scholarships for the teacher training course at the institute and a 75% scholarship for the language courses, provided through the GI\u2019s Bildungskooperation Deutsch project. PASCH also provides scholarships for language training and funds in-service teacher training.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong> German-language resources are provided through a joint project <\/strong>between the Education Ministry, GI and German publisher Hueber Verlag, whose language books have been adapted to match an Egyptian public school criteria, at the cost of \u201ca few hundred EUR per year,\u201d the embassy official said.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong> Peut-\u00eatre fran\u00e7ais? <\/strong>The French Development Agency signed an agreement in 2020 with the government to support French-language teaching in Egyptian public schools through a consortium of French public operators \u2014 France \u00c9ducation International, Institut fran\u00e7ais d\u2019\u00c9gypte and R\u00e9seau Canop\u00e9 \u2014 an official at the French Embassy told Enterprise. The project, known as <a target=\"_blank\" href=\"https:\/\/www.ifegypte.com\/en\/projet-trefle-250-enseignants-et-inspecteurs-de-francais-lv2-formes-pour-les-examens-du-delf\/\" style=\"\" rel=\"noopener\">Tr\u00e8Fle<\/a>, will develop a curriculum and assessment and evaluation framework for teaching French as a second language in public schools and train some 13k French teachers and inspectors, refining their professional skills including digital literacy. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong> Language resources included: <\/strong>Tr\u00e8Fle also plans to provide complementary educational resources for students and teachers and is creating brand-new textbooks and teachers\u2019 guides for six levels that are expected to be used in all Egyptian public schools starting from the 2024-25 academic year. The resources will provide \u201cup-to-date\u201d methods and cultural approaches to language learning, the product of a collaboration between French and Egyptian experts. An additional 500+ hours of online learning will be available on the Education Ministry\u2019s training platforms.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong> Tr\u00e8Fle is underway: <\/strong> The project has already trained some 500 teachers and supervisors from across Egypt in pedagogy and linguistics over the last eighteen months, to the point that the individuals are able to pass the International French Language Diploma (DELF or DALF). The first DELF results from November 2022 had a 96% success rate, the embassy official said.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong> Domino effect: <\/strong>Trained teachers become mentors and trainers for the new 13k teachers that Tr\u00e8Fle wants to train this year. If the rollout of the project is successful, all French teachers from Egyptian public schools will have benefited from the training and had their skill sets updated by 2024. Plus, by training Egyptian teachers rather than sending substitutes from France, the project centers the creation of a sustainable teaching practice for the French language in public schools.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong> French-funded: <\/strong> The officer declined to disclose the cost to train one school teacher in the Tr\u00e8Fle project in Egypt or the cost of providing educational resources to one school. However, they added that AFD is the sole funder of the projects, which aligns with France\u2019s implementation of sustainable development and international solidarity policies.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong> Why French? <\/strong> \u201cEgypt is a country with a long French-speaking tradition,\u201d and it is currently the only language taught in all the public schools across the 27 governorates, the officer said. Over 160 French companies have a significant presence in Egypt, meaning that proficiency in French enhances employability within Egypt and opens up options for the youth across the region.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong> That\u2019s not all: <\/strong>Public schools could see <a target=\"_blank\" href=\"https:\/\/moe.gov.eg\/en\/what-s-on\/news\/chinese-language\/\" style=\"\" rel=\"noopener\">Chinese-language<\/a> options added to the curriculum and the Italian Embassy is in the process of <a target=\"_blank\" href=\"https:\/\/moe.gov.eg\/en\/what-s-on\/news\/italian-ambassador\/\" style=\"\" rel=\"noopener\">signing an MoU<\/a> with the Education Ministry to support the introduction of Italian as a language option at public schools, various statements from the ministry have said. Meanwhile, Russian could also be announced after talks between the two countries\u2019 Education Ministries, reports <a target=\"_blank\" href=\"https:\/\/english.ahram.org.eg\/NewsContent\/1\/2\/492246\/Egypt\/Society\/Russian-to-be-offered-as-second-language-in-Egypt;.aspx\" style=\"\" rel=\"noopener\">Ahram Online<\/a>.<\/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 education stories for the week: <\/strong><\/p>\n<ul>\n<li><strong> Egypt has joined the <\/strong><strong><a target=\"_blank\" href=\"https:\/\/www.globalpartnership.org\/\" style=\"\" rel=\"noopener\">Global Partnership for Education<\/a><\/strong>, a global funding platform that aims to improve education systems in developing countries. (<a target=\"_blank\" href=\"https:\/\/bit.ly\/45BhMPE\" style=\"\" rel=\"noopener\">Education Ministry statement<\/a>)<\/li>\n<li><strong> Banque Misr, FEI to build three TVET schools: <\/strong>State-owned lender Banque Misr has signed a cooperation agreement with the Federation of Egyptian Industries (FEI) to establish three applied tech schools <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/ae5d2422-1377-4938-b257-1261acb83ffd\" style=\"\" rel=\"noopener\">under the government\u2019s Ebda<\/a> initiative. (<a target=\"_blank\" href=\"https:\/\/bit.ly\/3YZfuHH\" style=\"\" rel=\"noopener\">Banque Misr statement<\/a>)<\/li>\n<li><strong> Ebda school admissions are open: <\/strong><a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/d3921cdf-971c-431b-829f-7f3a8d1b0d8e\" style=\"\" rel=\"noopener\">Applications are open<\/a> for students to apply for Ebda schools in Badr and Damietta.<\/li>\n<\/ul>\n\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/blackboard\/\">Blackboard<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/education\/\">Education<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/languages\/\">languages<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/public-schools\/\">public schools<\/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=\"605662\" 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\/09\/04\/605662\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-605662\" class=\"content-area-description single-story post-605662 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;\">SEPTEMBER <\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span>September: Hassan Allam Utilities + Agility to open Yanmu East logistics park.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:400;\">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 style=\"font-weight:400;\">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 style=\"font-weight:400;\">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 style=\"font-weight:400;\">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 style=\"font-weight:400;\">End of September: ADQ to acquire stakes in Elab, Ethydco and EDC.<\/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>4-6 September (Monday-Wednesday): <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/africaclimatesummit.org\/\" style=\"\">Africa Climate Summit<\/a><\/span><span style=\"font-weight:400;\">, Nairobi, Kenya.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:400;\">5 September (Tuesday): National Dialogue.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:400;\">7-8 (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 style=\"font-weight:400;\">7 September (Wednesday): National Dialogue.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:400;\">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 style=\"font-weight:400;\">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): <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/www.instagram.com\/ultraibex\/\" style=\"\">Ultraibex<\/a><\/span><span style=\"font-weight:400;\"> Wadi Degla Protectorate clean-up event.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:400;\">15 September (Friday): IMF to review USD 3 bn program.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span>15 September (Friday): Deadline for applications to <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/bit.ly\/3EdKj1A\" style=\"\">EGYAID scholarship program<\/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>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 (insurance conference), 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 style=\"font-weight:400;\">19-20 September (Tuesday-Wednesday): Federal Reserve interest rate meeting. <\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span>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 style=\"font-weight:400;\">21 September (Thursday): Central Bank of Egypt\u2019s Monetary Policy Committee meeting.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:400;\">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 style=\"font-weight:400;\"> 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 style=\"font-weight:400;\">27 September (Wednesday): Deadline for bidding in 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 style=\"font-weight:400;\">28 September (Thursday): National holiday in observance of Prophet Muhammad\u2019s birthday (TBC).<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span>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 style=\"font-weight:400;\">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 style=\"font-weight:400;\">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;\">October: Gov\u2019t expects to finalize sale of Gabal El Zeit wind plant.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:400;\">October - November: Gov\u2019t expects to finalize sale of military-owned fuel retailer Wataniya.<\/span><\/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;\">2 October (Monday): Government meeting with investors to look into liberalizing electricity grid. <\/span><\/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 style=\"font-weight:400;\">December: Gov\u2019t expects to finalize sale of military-owned bottled drinks company Safi.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span>December: Gov\u2019t expects to finalize sale of Zafarana wind farm.<\/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>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;\">June 2024: Gov\u2019t expects to finalize sale of Beni Suef combined-cycle power plant.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:400;\">1H 2024: Gov\u2019t expects to finalize sale of four water desalination plants.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight: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\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n","protected":false},"excerpt":{"rendered":"","protected":false},"featured_media":605635,"menu_order":0,"template":"","categories":[],"tags":[],"class_list":["post-605634","issue","type-issue","status-publish","has-post-thumbnail","hentry","wpautop","entry"],"acf":{"mongo_id":"79c4032c-cac3-4615-89e6-32afc75cce3c","teaser":"","photo_url":"https:\/\/ent.news\/2023\/9\/108.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>UAE-based firm acquires 30% stake in Eastern Company - EnterpriseAM Egypt<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" 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