{"id":605996,"date":"2023-09-10T00:00:00","date_gmt":"2023-09-10T00:00:00","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/?post_type=issue&#038;p=605996"},"modified":"2025-12-17T00:31:01","modified_gmt":"2025-12-17T00:31:01","slug":"aiib-is-meeting-in-sharm-this-month-heres-why-that-matters","status":"publish","type":"issue","link":"https:\/\/enterpriseam.com\/egypt\/issues\/aiib-is-meeting-in-sharm-this-month-heres-why-that-matters\/","title":{"rendered":"AIIB is meeting in Sharm this month. Here\u2019s why that matters."},"content":{"rendered":"<section id=\"605998\" 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=\"605998\">\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\/10\/its-inflation-day-2\/\">\r\n                            Inflation data for August published today; analysts expect a third successive record high                        <\/a>\r\n                    <\/h3>\r\n\r\n                    \r\n\t\t\t\t\t\n<div class=\"cta\">\n    <div class=\"cta__btn 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src=\"https:\/\/i0.wp.com\/ent.news\/2023\/9\/688.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"605999\" data-permalink=\"https:\/\/enterpriseam.com\/egypt\/2023\/09\/10\/its-inflation-day-2\/688-jpg-11\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2023\/9\/688.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"688.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2023\/9\/688.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2023\/9\/688.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-605998\" class=\"content-area-description single-story post-605998 post type-post status-publish format-standard has-post-thumbnail hentry category-what-were-tracking-today tag-economy tag-enterpriseam tag-inflation 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\/.609605d9-ef4d-47c8-b915-19aebafe01d4.mp3\"><\/audio><\/figure><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong> Good morning, friends, and a very happy Sunday to you all. <\/strong>We have a packed issue for you this morning, including why you should care about the upcoming Sharm meeting of the Asian Infrastructure Investment Bank, the latest from the G20 summit, signs of life on Planet VC, and what you can expect of Apple\u2019s fall event on Tuesday.<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong> Before we get underway: <\/strong>Join us this morning in saying a little prayer for everyone impacted by the devastating earthquake in Morocco. <\/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=\"wwtt3\"><\/a> <strong> PSA: There are only four days left for Egyptians living abroad to settle unfulfilled military <\/strong><strong> servi <\/strong><strong> ce <\/strong><strong> in FX. <\/strong>Folks looking to settle their national service obligation will need to deposit USD 5k \/ EUR 5k into a Banque Misr account at the bank\u2019s Abu Dhabi branch by Wednesday, 13 September. <a target=\"_blank\" href=\"https:\/\/www.tagneedinit.gov.eg\/\" style=\"\" rel=\"noopener\">Head here<\/a> for more information.<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"> <a id=\"wwtt1\"><\/a> <strong> COUNTDOWN- There are just 8 days until the Enterprise Finance Forum, which takes <\/strong><strong> place 18-19 September <\/strong>(Monday and Tuesday) at the St. Regis Hotel on the Nile Corniche. This flagship forum is the latest in our must-attend series of invitation-only events, where CEOs, bankers, investors, founders, and corporate leaders will meet to discuss the trends shaping the future of banking, finance, NBFIs, and fintech \u2014 and of their clients.<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong> You won\u2019t want to miss this one: <\/strong> Join <strong> Hassan Allam <\/strong>(CEO, Hassan Allam Holding), <strong> Fernando Morillo <\/strong> (group head of retail banking, Mashreq), <strong> Galal El Beshbishy <\/strong> (co-founder and COO, Synapse Analytics),<strong> Basma Rady <\/strong>(chief data scientist, Beltone Financial), <strong> Larry Lerner <\/strong>(partner, McKinsey), <strong> Islam Zekry <\/strong>(group CFO, CIB), and many others for talks on everything from the impact of AI and data science on banking, to the coming of digital and challenger banks. <\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong><a target=\"_blank\" href=\"https:\/\/finance.enterprise.news\/\" style=\"\" rel=\"noopener\">Tap or click here to REQUEST AN INVITATION or view the FULL AGENDA.<\/a><\/strong><\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong> We are honored to count some of the region\u2019s most important financial institutions as <\/strong><strong> our partners for this special event. <\/strong>The Enterprise Finance Forum could not take place without the support of our partners including Banque Misr, Al Baraka Bank, FAB Misr, HSBC, Mashreq, CI Capital, Global Corp, Visa, Hassan Allam Utilities, and the IFC. <\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><a href=\"https:\/\/finance.enterprise.news\/index.html#agenda\" target=\"_blank\" rel=\"noopener\"><img data-recalc-dims=\"1\" decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2023\/9\/634.jpg?ssl=1\"><\/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> HAPPENING TODAY- <\/strong><\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"> <a id=\"wwtt2\"><\/a> <strong> #1- It\u2019s inflation day: <\/strong> Capmas and the central bank will release inflation data for August today.<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong> Remember: <\/strong> Annual inflation has been soaring since the start of the war in Ukraine in March 2022, and in July hit a second successive all-time high of <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/c9775147-75a5-4479-8f40-f4631fd233be\" style=\"\" rel=\"noopener\">36.5%<\/a>.<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong> A third record high in a row? <\/strong>A <a target=\"_blank\" href=\"https:\/\/www.reuters.com\/article\/idUSKBN30C1CV\" style=\"\" rel=\"noopener\">Reuters poll<\/a> of analysts last week sees the annual urban rate further increasing in August. The median forecast among the survey of 14 analysts and economists sees consumer prices accelerating at a 37.1% clip during the month.<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong> Signs inflation could be slowing down? <\/strong><\/p><ul>\n<li><strong> \u201cUnderlying momentum should be fading<\/strong>, particularly with global wheat prices down m-o-m and relative stability of the parallel exchange market,\u201d said Carla Slim, MENA economist at Standard Chartered.<\/li>\n<li><strong> \u201cWe expect annual inflation to be nearly flat<\/strong>,\u201d said EFG Hermes\u2019s macro head, Mohamed Abu Basha. \u201cHigher base effect is setting in, but some noise coming from tobacco, and to a lesser extent food prices, are likely to keep inflation elevated.\u201d<\/li>\n<\/ul><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong> #2- G20 wraps: <\/strong> The heads of state of G20 nations \u2014 as well as other leaders invited by India, which include President Abdel Fattah El Sisi \u2014 will close out the 2023 leaders summit in New Delhi today.<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong> #3- Sahara expo: <\/strong> The <a target=\"_blank\" href=\"https:\/\/www.saharaexpo.com\/en\/home.html\" style=\"\" rel=\"noopener\">Sahara agriculture exhibition<\/a> kicks off at the Egypt International Exhibition Center (EIEC), showcasing agricultural machinery, water management systems, and post-harvest technologies. The event runs through to Tuesday.<\/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> #1- Friday is supposed to be the day that the IMF starts conducting its review of our loan <\/strong><strong> program: <\/strong> As <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/b5a8ca2c-babc-4c88-a225-be324950f8d3\" style=\"\" rel=\"noopener\">we noted last week<\/a>, the prospects of an IMF team arriving in town this week look rather slim, with a government official telling Asharq Business that the review will likely not wrap up this month. A source at the Finance Ministry we spoke to was more optimistic but admitted that the Fund was yet to set a date for the mission.<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong> ICYMI- <\/strong> The first review was originally supposed to take place in mid-March but was postponed after we fell short on meeting several key conditions of the loan agreement. The delay means that the IMF is expected to roll the first and second reviews into one when it next comes to Cairo, which would see the disbursement of almost USD 700 mn.<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><a id=\"wwtt4\"><\/a> <strong> #2- US to make decision on military aid on Thursday: <\/strong>The US State Department is set to decide whether to withhold a portion of Egypt\u2019s annual USD 1.3 bn of military aid on human rights grounds by 14 September. <\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong> Remember: <\/strong> A number of Democratic lawmakers in the House and the Senate have called on the Biden administration in recent weeks to withhold a quarter of the USD 1.3 bn. This would be the third consecutive year that Egypt has had some of its military aid withheld: the Biden administration blocked Egypt from receiving <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/79ce7f1b-589c-431f-9ed7-47f9a283f787\" style=\"\" rel=\"noopener\">USD 130 mn of aid in 2021<\/a>, a figure that rose to <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/c733ad3a-76a6-47ff-8ae3-9c556e2214b0\" style=\"\" rel=\"noopener\">USD 205 mn<\/a> last year. <\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong> #3-The <\/strong><strong><a target=\"_blank\" href=\"https:\/\/www.hydrogenegypt.com\/\" style=\"\" rel=\"noopener\">Hydrogen Egypt Summit<\/a><\/strong><strong> : <\/strong> The largest green hydrogen industry event in the country will open its doors at the Nile Ritz Carlton on Wednesday and Thursday. Industry leaders at local and global energy players will be attending the event to discuss how to realize Egypt\u2019s potential to become a regional green hydrogen hub. <\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong> #4- A big rate-hike in Europe this week? <\/strong> The European Central Bank could decide to go ahead with a large 25-bps interest rate hike at its policy meeting on Thursday, as it looks to combat <a target=\"_blank\" href=\"https:\/\/www.ft.com\/content\/db281424-1fd6-440d-8368-dc88f8a8332b\" style=\"\" rel=\"noopener\">sticky inflation<\/a>, writes <a target=\"_blank\" href=\"https:\/\/www.bloomberg.com\/news\/articles\/2023-09-09\/ecb-quarter-point-quandary-keeps-market-on-tenterhooks\" style=\"\" rel=\"noopener\">Bloomberg<\/a>.<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong> Reminder: <\/strong> The US Federal Reserve will be the next major central bank to hold its meeting. The Federal Open Markets Committee meets next week, on 19-20 September.<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong> TECH TUESDAY- <\/strong><\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong> We\u2019ll get our first look at the new-look iPhone on Tuesday <\/strong> when Apple holds its annual product event. Here\u2019s what you can expect:<\/p><ul>\n<li><strong> A brand new iPhone: <\/strong> The company is widely expected to unveil the 15th generation of its flagship product and could launch a new top-range Ultra model to replace the Pro Max. (<a target=\"_blank\" href=\"https:\/\/techcrunch.com\/2023\/09\/09\/what-we-expect-from-apples-wonderlust-15-event\/\" style=\"\" rel=\"noopener\">Techcrunch<\/a>)<\/li>\n<li><strong> A new Apple Watch: <\/strong> Rumor has it that we\u2019ll be getting first looks at the Apple Watch Series 9 and Ultra 2, upgrades that will reportedly focus more on tech and less on aesthetic overhauls. (<a target=\"_blank\" href=\"https:\/\/www.macworld.com\/article\/2060811\/apple-watch-series-9-wonderlust-event-u2-chip-heart-rate-sensor.html\" style=\"\" rel=\"noopener\">Macworld<\/a>)<\/li>\n<\/ul><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong> Other tech unveilings this fall: <\/strong>Microsoft will show off new hardware on Thursday, 21 September and Google will formally announce <a target=\"_blank\" href=\"https:\/\/www.androidpolice.com\/pixel-8-pixel-watch-2-made-by-google-tease-b\/\" style=\"\" rel=\"noopener\">the Pixel 8 and an updated watch<\/a> on Wednesday, 4 October.<\/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\/ent.news\/2023\/9\/671.jpg?ssl=1\"><\/p><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> #1- More than 2k <\/strong><strong> dead <\/strong><strong> as r <\/strong><strong> escuers search for survivors of Morocco\u2019s <\/strong><strong> devastating <\/strong><strong> earth <\/strong><strong> quake: <\/strong>A 7.2 magnitude earthquake that hit Morocco\u2019s High Atlas mountains late Friday night has killed more than 2k people and damaged buildings stretching from the mountain range to Marrakech. The death toll is expected to continue to rise as emergency workers search the rubble for survivors. The quake is the country\u2019s deadliest in 120 years. <\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong> Egypt reacts: <\/strong><a target=\"_blank\" href=\"https:\/\/bit.ly\/482Xd0p\" style=\"\" rel=\"noopener\">President Abdel Fattah El Sisi<\/a> and the <a target=\"_blank\" href=\"https:\/\/www.facebook.com\/EgyptianCabinet\/posts\/766800328823723\" style=\"\" rel=\"noopener\">Foreign Ministry<\/a> expressed their condolences to the victims of the earthquakes.<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong> News of the disaster is everywhere in the foreign press<\/strong>, from the <a target=\"_blank\" href=\"https:\/\/apnews.com\/article\/morocco-earthquake-marraskesh-7f4a503009dede0dec0208c08d6b100b\" style=\"\" rel=\"noopener\">Associated Press<\/a> and <a target=\"_blank\" href=\"https:\/\/www.reuters.com\/world\/africa\/magnitude-7-earthquake-strikes-morocco-gfz-2023-09-08\/\" style=\"\" rel=\"noopener\">Reuters<\/a> to <a target=\"_blank\" href=\"https:\/\/www.bloomberg.com\/en\/news\/thp\/2023-09-08\/urgent-powerful-earthquake-strikes-morocco-causing-shaking-in-much-of-the-country?srnd=premium-middle-east\" style=\"\" rel=\"noopener\">Bloomberg<\/a>, the <a target=\"_blank\" href=\"https:\/\/www.ft.com\/content\/f381999f-d990-4113-9498-3690f7374eb7\" style=\"\" rel=\"noopener\">Financial Times<\/a>, the <a target=\"_blank\" href=\"https:\/\/www.wsj.com\/world\/morocco-earthquake-kills-at-least-296-a431d3f9\" style=\"\" rel=\"noopener\">Wall Street Journal<\/a> and <a target=\"_blank\" href=\"https:\/\/www.cnbc.com\/2023\/09\/09\/powerful-earthquake-strikes-morocco-killing-hundreds-and-damaging-historic-buildings-in-marrakech.html\" style=\"\" rel=\"noopener\">CNBC<\/a>.<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><a id=\"wwtt5\"><\/a> <strong> #2- G20: <\/strong><strong> The first day of the G20 leaders summit is also attracting plenty of attention <\/strong><strong> from the Western media<\/strong>, most of which are focusing on <a target=\"_blank\" href=\"https:\/\/www.g20.org\/content\/dam\/gtwenty\/gtwenty_new\/document\/G20-New-Delhi-Leaders-Declaration.pdf\" style=\"\" rel=\"noopener\">yesterday\u2019s joint declaration (pdf)<\/a> that didn\u2019t condemn Russia for invading Ukraine. Heading into the summit, a joint communique seemed to be a long shot given the divisions over the war in Ukraine though summit host India has apparently been able to convince Western leaders to drop some of the hostile language and agree to a more neutral statement. (<a target=\"_blank\" href=\"https:\/\/www.reuters.com\/world\/g20-leaders-begin-two-day-summit-overshadowed-by-divisions-over-ukraine-2023-09-09\/\" style=\"\" rel=\"noopener\">Reuters<\/a> | <a target=\"_blank\" href=\"https:\/\/www.bloomberg.com\/news\/articles\/2023-09-09\/china-questions-why-us-should-get-first-shot-to-chair-g-20-again?srnd=premium-middle-east\" style=\"\" rel=\"noopener\">Bloomberg<\/a> | <a target=\"_blank\" href=\"https:\/\/www.ft.com\/content\/af2cf577-9295-4b56-92ce-263abe202c43\" style=\"\" rel=\"noopener\">Financial Times<\/a> | <a target=\"_blank\" href=\"https:\/\/www.nytimes.com\/2023\/09\/09\/world\/asia\/g20-biden-russia-ukraine-war.html\" style=\"\" rel=\"noopener\">New York Times<\/a> | <a target=\"_blank\" href=\"https:\/\/www.wsj.com\/world\/india\/g-20-softens-language-on-ukraine-war-in-declaration-bbe76845\" style=\"\" rel=\"noopener\">Wall Street Journal<\/a> | <a target=\"_blank\" href=\"https:\/\/www.cnbc.com\/2023\/09\/09\/indian-pm-modi-says-a-consensus-has-been-reached-on-a-g20-declaration.html\" style=\"\" rel=\"noopener\">CNBC<\/a>)<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong> What you need to know from the first day: <\/strong><\/p><ul>\n<li><strong> The African Union now has permanent representation at the G20: <\/strong>The G20 granted permanent membership to the African Union on Saturday, handing it the same level of representation as the EU. (<a target=\"_blank\" href=\"https:\/\/www.reuters.com\/world\/g20-admit-african-union-permanent-member-new-delhi-summit-draft-declaration-2023-09-09\/\" style=\"\" rel=\"noopener\">Reuters<\/a>)<\/li>\n<li><strong> The W <\/strong><strong> est\u2019s answer to the Belt and Road Initiative? <\/strong> The EU, India, Saudi Arabia, UAE and US signed an MoU for a Middle East-South Asia infrastructure project that would link Middle Eastern nations and India by new rail networks and ports. (<a target=\"_blank\" href=\"https:\/\/www.reuters.com\/world\/us-india-saudi-eu-unveil-rail-ports-deal-g20-sidelines-white-house-official-2023-09-09\/\" style=\"\" rel=\"noopener\">Reuters<\/a>)<\/li>\n<\/ul><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> OIL WATCH- <\/strong><\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong> Expect oil prices to keep on rising in the weeks and months ahead <\/strong> after Saudi Arabia and Russia agreed last week to maintain supply curbs through to the end of the year. That\u2019s according to <a target=\"_blank\" href=\"https:\/\/www.bloomberg.com\/news\/articles\/2023-09-09\/oil-price-resurgence-has-further-to-run-after-the-saudis-turn-the-screw?srnd=premium-middle-east\" style=\"\" rel=\"noopener\">Bloomberg<\/a>, whose interviews with energy analysts suggest a price spike ahead. \u201cCrude tightness seems quite legitimate and quite real,\u201d said one. \u201cThis certainly keeps oil markets on the boil.\u201d<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong> A return to three-figure oil isn\u2019t a certainty: <\/strong> Heading into an election year in the United States, an uptick in inflation is the last thing that President Biden wants \u2014 and his administration could choose to release more crude from the strategic petroleum reserve should prices rise significantly. Then there\u2019s China, where just a few months ago a surge in demand was expected to cause serious tightening in the energy markets but now whose economy now seems to be on the cusp of a downturn.<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong> Where we\u2019re at: <\/strong> Oil prices closed Friday at a nine-month high, with Brent up 0.6% at USD 90.40 per a barrel and US crude rising 0.4% to USD 87.20.<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong> What does this mean for emerging markets? <\/strong> The combination of oil price uncertainty, sluggish growth in China and greenback strength will make for a \u201cwild ride\u201d for local emerging markets, according to a note by Barclays strategists picked up by <a target=\"_blank\" href=\"https:\/\/www.bloomberg.com\/news\/articles\/2023-09-06\/emerging-markets-seen-in-for-wild-ride-on-moves-in-dollar-oil#xj4y7vzkg\" style=\"\" rel=\"noopener\">Bloomberg<\/a>. Risk sentiment in the asset class took a hit towards the end of last week, with MSCI\u2019s EM equities index falling for the second day by 0.5% and EM currencies dropping to a more than two-week low. <\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong> What they\u2019re saying: <\/strong> \u201cChina\u2019s woes and the <a target=\"_blank\" href=\"https:\/\/www.newyorkfed.org\/research\/data_indicators\/term-premia-tabs#\/overview\" style=\"\" rel=\"noopener\">US term premia<\/a> shock sent EM assets on a roller-coaster and make for a challenging backdrop for EM flows,\u201d the strategists wrote, noting that moves in the oil markets have \u201cbecome hard to ignore.\u201d<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong> CIRCLE YOUR CALENDAR- <\/strong><\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong> #1- Looking to do your master\u2019s degree in the UK? <\/strong>Applications for the British 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> #2- Help keep Wadi Degla clean: Trail running events organizer <\/strong><strong><a target=\"_blank\" href=\"https:\/\/www.instagram.com\/ultraibex\/\" style=\"\" rel=\"noopener\">Ultra Ibex<\/a><\/strong><strong> is holding a <\/strong><strong> trash <\/strong><strong> clean-up <\/strong> in Cairo\u2019s Wadi Degla between 9-11 am on Friday, 15 September. Volunteers will clear trash from the 3-km stretch from the entrance of the Wadi, the same area where they collected more than 100 bags of trash last year. All proceeds collected from the event will go towards installing 10 new trash collection units in the Wadi. <a target=\"_blank\" href=\"https:\/\/ultraibex.com\/register\/\" style=\"\" rel=\"noopener\">Register to help out here<\/a>.<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong> Are you a corporate and want to back the cleanup? <\/strong> Our friends at Ultra Ibex are actively looking for partners.<\/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>\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   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id=\"606001\" 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=\"606001\">\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\">Investment Watch<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2023\/09\/10\/what-do-private-sector-players-want-from-the-aiib\/\">\r\n                            AIIB meets Egyptian private sector players ahead of annual meeting in Sharm El Sheikh                        <\/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\" 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   \r\n            <div class=\"story__body\">\r\n\r\n                <a href=\"https:\/\/enterpriseam.com\/egypt\/2023\/09\/10\/what-do-private-sector-players-want-from-the-aiib\/\">\r\n                    <div class=\"photo photo--above\">\r\n                        <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2023\/9\/648.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"606002\" data-permalink=\"https:\/\/enterpriseam.com\/egypt\/2023\/09\/10\/what-do-private-sector-players-want-from-the-aiib\/648-jpg-21\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2023\/9\/648.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"648.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2023\/9\/648.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2023\/9\/648.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-606001\" class=\"content-area-description single-story post-606001 post type-post status-publish format-standard has-post-thumbnail hentry category-investment-watch tag-ahmed-kouchouk tag-asian-infrastructure-investment-bank tag-banking tag-development-finance tag-enterpriseam tag-finance-ministry tag-investment-watch tag-mohamed-maait 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\/.f52207e0-eef8-453d-8f3b-afae397fefb6.mp3\"><\/audio><\/figure>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"> <strong> Private-sector players talk with the AIIB: <\/strong><a target=\"_blank\" href=\"https:\/\/www.aiib.org\/en\/index.html\" style=\"\" rel=\"noopener\">Asian Infrastructure Investment Bank<\/a>(AIIB) officials virtually joined Finance Minister Mohamed Maait, Deputy Finance Minister Ahmed Kouchouk, and a number of private sector players at the Finance Ministry\u2019s new headquarters in the new administrative capital on Thursday to discuss how the Beijing-backed multilateral lender can benefit private-sector players ahead of the bank\u2019s <a target=\"_blank\" href=\"https:\/\/www.aiib.org\/en\/news-events\/events\/2023\/2023-annual-meeting-of-the-aiib-board-of-governors.html#:~:text=This%20year's%20Annual%20Meeting%20will,International%20Congress%20Center%20(SHICC).\" style=\"\" rel=\"noopener\">a<\/a> <a target=\"_blank\" href=\"https:\/\/www.aiib.org\/en\/news-events\/events\/2023\/2023-annual-meeting-of-the-aiib-board-of-governors.html#:~:text=This%20year's%20Annual%20Meeting%20will,International%20Congress%20Center%20(SHICC).\" style=\"\" rel=\"noopener\">nnual meetin<\/a> <a target=\"_blank\" href=\"https:\/\/www.aiib.org\/en\/news-events\/events\/2023\/2023-annual-meeting-of-the-aiib-board-of-governors.html#:~:text=This%20year's%20Annual%20Meeting%20will,International%20Congress%20Center%20(SHICC).\" style=\"\" rel=\"noopener\">g<\/a> in Sharm El Sheikh later this month. Enterprise was in attendance.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong> AIIB and Egypt have some history: <\/strong>Egypt was one of the bank\u2019s founding members, helping bring it to life in 2016. So far we have received nearly USD 1.3 bn in the funding from the bank, across five projects, the latest of which was a <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/d1f0b52f-70b7-4ca8-9f7a-3adce86af2e0\" style=\"\" rel=\"noopener\">EUR 250 mn loan<\/a> for the redevelopment of the Abu Qir railway in Alexandria. Maait is Egypt\u2019s governor to the bank, while <a target=\"_blank\" href=\"https:\/\/www.aiib.org\/en\/about-aiib\/governance\/board-directors\/board-members\/directors\/Ahmed-KOUCHOUK.html\" style=\"\" rel=\"noopener\">Kouchouk is the bank\u2019s director for constituency six<\/a>, which includes Egypt, Algeria, Argentina, Brazil, Morocco, Sudan, and Tunisia, among 12 other countries. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong> The beginning of a bigger conversation: <\/strong>Thursday\u2019s discussion came in the lead-up to the bank\u2019s 2023 annual meeting, which takes place on 25-26 September in Sharm El Sheikh. The meeting is the bank\u2019s first post-covid, in-person event and the first to be hosted by an African country. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong> We need resilient infrastructure: <\/strong>\u201cWe can respond to climate change by improving the quality and accessibility of infrastructure services,\u201d AIIB\u2019s VP and Corporate Secretary Ludger Schuknecht (<a target=\"_blank\" href=\"https:\/\/www.linkedin.com\/in\/ludger-schuknecht-081986aa\/\" style=\"\" rel=\"noopener\">LinkedIn<\/a>) said. \u201cWe have to enhance the resilience and adaptability of infrastructure systems to shocks and stresses such as natural disasters and climate change, and we need to increase the transparency and accountability of infrastructure governance and management such as procurement, financing, and monitoring.\u201d <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong> And that takes serious investment: <\/strong>\u201cThe world faces a roughly USD 50 tn gap between projected investment and the end amount needed to provide adequate global infrastructure by 2040,\u201d Shucknecht said. \u201cFor Egypt alone, that figure is projected to be USD 675 bn between now and 2040 \u2026 this is an amount that cannot be met by governments and [multilateral development banks] alone,\u201d he added.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong> Private-sector involvement is crucial: <\/strong>\u201cPrivate equity is necessary to ensure infrastructure projects are being built,\u201d Schuknecht continued. \u201cThe infrastructure gap is critically high for critical infrastructure such as energy, telecommunications, transport, and climate-resilient infrastructure.\u201d AAIB is also \u201cworking with its members on transport and logistics projects to help bottlenecks and facilitate connectivity in cross border trade\u201d, he said.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong> The AIIB de-risks projects: <\/strong>\u201cAIIB can help member countries unlock leverage and catalyze private-sector finance for investment. The bank can provide policy guidance and financial support \u2026 to sufficiently change the risk-reward balance to attract private capital to infrastructure opportunities,\u201d said AIIB board member Fabrizio Costa (<a target=\"_blank\" href=\"https:\/\/www.aiib.org\/en\/about-aiib\/governance\/board-directors\/board-members\/directors\/Fabrizio-COSTA.html\" style=\"\" rel=\"noopener\">bio<\/a>). <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong> Some 40% of the bank\u2019s funded projects are in the private sector: <\/strong>\u201cToday we have already financed 231 projects in 35 member countries, with a total approved funding of USD 44 bn, including 97 private sector projects \u2026 within this active portfolio, in one third of projects we mobilize capital to leverage our own investments,\u201d said the bank\u2019s VP of investment operations, Konstantin Limitovskiy (<a target=\"_blank\" href=\"https:\/\/www.linkedin.com\/in\/konstantin-limitovskiy-095a92185\/\" style=\"\" rel=\"noopener\">LinkedIn<\/a>). <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong> AIIB offers concessional financing: <\/strong>\u201cIt is important to support the private sector, we are very happy to do so. We are happy to take more risk for a longer tenor compared to the more commercially-oriented lenders. We can do this through USD financing, investments, capital market issuances, or selective equity investments,\u201d said Director-General, Region 2 Banking, Najeeb Haider (<a target=\"_blank\" href=\"https:\/\/www.linkedin.com\/in\/najeeb-haider-77410685\/?originalSubdomain=cn\" style=\"\" rel=\"noopener\">LinkedIn<\/a>).<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong> What projects is the bank after? <\/strong>\u201cWhen we work with the private sector we have several key goals: We want to selectively engage in transformative projects to have significant impact, particularly by investing in infrastructure in the private sector and increasing private capital mobilization. We want to support the private sector in developing high quality and resilient infrastructure. We want to promote a green economy to stimulate growth, and develop digital infrastructure to foster innovation,\u201d Limitovskiy continued. \u201cThe top three sectors which we finance today are transport, energy, and multisector.\u201d <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong> It\u2019s not all sunshine and rainbows: <\/strong>\u201cWe need to be aware that we are also facing some challenges when we work with the private sector. As a bank we have to be cautious of the country \u2026 aligning our financing approach with current market conditions. At AIIB we aim to provide competitive financing packages while avoiding underpricing or undercutting commercial lenders,\u201d Limitovskiy said.<\/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\/ahmed-kouchouk\/\">Ahmed Kouchouk<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/asian-infrastructure-investment-bank\/\">Asian Infrastructure Investment Bank<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/banking\/\">banking<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/development-finance\/\">development finance<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/finance-ministry\/\">Finance Ministry<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/investment-watch\/\">investment watch<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/mohamed-maait\/\">Mohamed Maait<\/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=\"606003\" 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=\"606003\">\r\n            \r\n                <div class=\"issue-story-header text-center\">\r\n                    <div class=\"index-number\">3<\/div>\r\n\r\n                    <p class=\"f-graphik\">DEBT WATCH<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2023\/09\/10\/our-first-mortgage-backed-securitization-closes\/\">\r\n                            Egyptian Mortgage Refinance Company closes inaugural securitized bond sale                        <\/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\/10\/our-first-mortgage-backed-securitization-closes\/\" 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\/10\/our-first-mortgage-backed-securitization-closes\/')\">\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\/10\/our-first-mortgage-backed-securitization-closes\/\">\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=Our first mortgage-backed securitization closes&url=https:\/\/enterpriseam.com\/egypt\/2023\/09\/10\/our-first-mortgage-backed-securitization-closes\/\">\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\/10\/our-first-mortgage-backed-securitization-closes\/&title=Our first mortgage-backed securitization closes\">\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=Our+first+mortgage-backed+securitization+closes+https%3A%2F%2Fenterpriseam.com%2Fegypt%2F2023%2F09%2F10%2Four-first-mortgage-backed-securitization-closes%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\/10\/our-first-mortgage-backed-securitization-closes\/\">\r\n                    <div class=\"photo photo--above\">\r\n                        <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2023\/9\/653.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"606004\" data-permalink=\"https:\/\/enterpriseam.com\/egypt\/2023\/09\/10\/our-first-mortgage-backed-securitization-closes\/653-jpg-4\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2023\/9\/653.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"653.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2023\/9\/653.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2023\/9\/653.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-606003\" class=\"content-area-description single-story post-606003 post type-post status-publish format-standard has-post-thumbnail hentry category-debt-watch tag-al-ahly-pharos tag-debt-watch tag-dreny-partners tag-efg-hermes tag-egyptian-mortgage-refinance-company tag-enterpriseam tag-securitization 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\/.da86ae5d-9534-4a18-8610-9baf24de6ecf.mp3\"><\/audio><\/figure>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"> <strong><a target=\"_blank\" href=\"https:\/\/www.emrc-online.com\/\" style=\"\" rel=\"noopener\">Egyptian Mortgage Refinance Company (EMRC)<\/a><\/strong><strong> has issued EGP 472 <\/strong><strong> mn in securitized bonds<\/strong>, Dreny & Partners, the legal counsel on the transaction, said in <a target=\"_blank\" href=\"https:\/\/ent.news\/2023\/9\/651.pdf\" style=\"\" rel=\"noopener\">a press release (<\/a><a target=\"_blank\" href=\"https:\/\/ent.news\/2023\/9\/651.pdf\" style=\"\" rel=\"noopener\">pdf<\/a><a target=\"_blank\" href=\"https:\/\/ent.news\/2023\/9\/651.pdf\" style=\"\" rel=\"noopener\">)<\/a> on Thursday. The three-tranche issuance was rated between AA+, AA and A by the Middle East Ratings and Investors Service (MERIS). The issuance is the first in a planned three-year, EGP 3 bn program. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong> First of its kind: <\/strong>The transaction marked the first securitization issuance for EMRC, which is the country\u2019s sole provider of refinancing to mortgage lenders, according to the release. EMRC has been eyeing a securitized bond sale <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/e487890f-463a-4847-bf02-7a6437a6389f\" style=\"\" rel=\"noopener\">as far back as 2020<\/a>.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong> Who subscribed? <\/strong> EFG Hermes, the National Bank of Egypt, and the Arab African International Bank were joint underwriters.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong> Advisors: <\/strong>EFG Hermes and Al Ahly Pharos acted as joint financial advisors on the transaction. AAIB was bookrunner and custodian, KPMG was the auditor, and Dreny & Partners acted as legal counsel.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong> DATA POINT- <\/strong>This brings the total value of securitized bonds issued in Egypt so far this year to nearly EGP 50.8 bn \u2014 almost 12% more than total volumes across the whole of 2022, according to data tracked by Enterprise.<\/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-ahly-pharos\/\">Al Ahly Pharos<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/debt-watch\/\">debt watch<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/dreny-partners\/\">Dreny &amp; Partners<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/efg-hermes\/\">EFG Hermes<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/egyptian-mortgage-refinance-company\/\">Egyptian Mortgage Refinance Company<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/securitization\/\">securitization<\/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=\"606005\" 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=\"606005\">\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\">DEBT WATCH<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2023\/09\/10\/finmin-wants-usd-2-bn-in-new-borrowing-this-year\/\">\r\n                            Egypt\u2019s finance ministry targets USD 2 bn in fresh debt raises this year                        <\/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\/10\/finmin-wants-usd-2-bn-in-new-borrowing-this-year\/\" 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\/10\/finmin-wants-usd-2-bn-in-new-borrowing-this-year\/')\">\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\/10\/finmin-wants-usd-2-bn-in-new-borrowing-this-year\/\">\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=FinMin wants USD 2 bn in new borrowing this year&url=https:\/\/enterpriseam.com\/egypt\/2023\/09\/10\/finmin-wants-usd-2-bn-in-new-borrowing-this-year\/\">\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\/10\/finmin-wants-usd-2-bn-in-new-borrowing-this-year\/&title=FinMin wants USD 2 bn in new borrowing this year\">\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=FinMin+wants+USD+2+bn+in+new+borrowing+this+year+https%3A%2F%2Fenterpriseam.com%2Fegypt%2F2023%2F09%2F10%2Ffinmin-wants-usd-2-bn-in-new-borrowing-this-year%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\/10\/finmin-wants-usd-2-bn-in-new-borrowing-this-year\/\">\r\n                    <div class=\"photo photo--above\">\r\n                        <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2023\/9\/686.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"606006\" data-permalink=\"https:\/\/enterpriseam.com\/egypt\/2023\/09\/10\/finmin-wants-usd-2-bn-in-new-borrowing-this-year\/686-jpg-11\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2023\/9\/686.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"686.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2023\/9\/686.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2023\/9\/686.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-606005\" class=\"content-area-description single-story post-606005 post type-post status-publish format-standard has-post-thumbnail hentry category-debt-watch tag-debt-watch tag-enterpriseam tag-finance-ministry tag-mohamed-maait 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\/.1c99835e-f07d-43f3-ac14-9f1ef2ecfc54.mp3\"><\/audio><\/figure>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"> <strong> The Finance Ministry is looking to secure USD 1.5-2 bn in fresh loans by 4Q 2023<\/strong>, Finance Minister Mohamed Maait told <a target=\"_blank\" href=\"https:\/\/bit.ly\/462kca2\" style=\"\" rel=\"noopener\">A<\/a> <a target=\"_blank\" href=\"https:\/\/bit.ly\/462kca2\" style=\"\" rel=\"noopener\">sharq Busines<\/a> <a target=\"_blank\" href=\"https:\/\/bit.ly\/462kca2\" style=\"\" rel=\"noopener\">s<\/a> in an interview. This includes a planned USD 500 mn CNY-denominated panda bond issuance and a second <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/6170918c-d131-411e-a667-a3f24c66a66c\" style=\"\" rel=\"noopener\">JPY-denominated samurai issuance<\/a> worth <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/2857ec15-d37e-4e4d-a65d-ff47ee88cc80\" style=\"\" rel=\"noopener\">USD 500 mn<\/a>. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong> This target has tempered somewhat from July<\/strong>, when the minister said the government was targeting <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/6177f96a-174f-49f5-8453-84604d883121\" style=\"\" rel=\"noopener\">USD 3 bn in fresh debt raises<\/a> before the end of the year. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong> Remember: <\/strong> Egypt has only tapped the international debt markets <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/6152c0e0-66bd-48d5-b73f-1de6cac73e6c\" style=\"\" rel=\"noopener\">once since March 2022<\/a> after the knock-on effects of the war in Ukraine and tighter global financial conditions all but locked us out of the international debt markets and raised concerns about Egypt\u2019s debt sustainability.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong> Progress on panda issuance next week? <\/strong> The <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/dd6bc6f9-fefc-4e44-aeec-789adf397228\" style=\"\" rel=\"noopener\">Asian Infrastructure Investment Bank<\/a>(AIIB) is expected to approve ins. coverage worth USD 230 mn for our panda bond issuance in a meeting in Cairo on 21 September, Maait told the news outlet. The <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/b14c48be-738f-45a5-8d23-28974b1f7d4c\" style=\"\" rel=\"noopener\">African Development Bank<\/a>(AfDB) has said it will provide USD 345 mn in ins. coverage for the issuance. The money will be used to fund sustainable development projects.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong> Refresher: <\/strong> The government is facing a <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/2f25427b-43e1-4104-9b7a-2aea214242b2\" style=\"\" rel=\"noopener\">USD 17 bn external financing gap<\/a> between 2023 and 2026, according to the IMF, which it is trying to fill via a mixture of state asset sales, new concessional financing from multilateral lenders, higher tourism revenues, and increasing exports, as well as the USD 3 bn IMF loan. The country\u2019s external debt bill rose to a <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/450c2cb7-4819-4598-a61f-cb17259fbe7b\" style=\"\" rel=\"noopener\">record USD 165.4 bn<\/a> by the end of March 2023<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong> 1H 2023 was expensive for debt repayments: <\/strong> The government spent USD 25.5 bn on debt servicing costs during the first half of the year, Maait said in an interview with the state <a target=\"_blank\" href=\"https:\/\/www.mena.org.eg\/ar\/news\/dbcall\/table\/textnews\/id\/10337120\" style=\"\" rel=\"noopener\">MENA news agency<\/a> yesterday.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong> Putting this in perspective: <\/strong>The state paid off USD 52 bn in principal and interest across the entire 2021-22 and 2022-23 fiscal years, the minister said.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong> Things don\u2019t let up in the coming months and years: <\/strong> The government has another USD 15.1 bn in short- and long-term debt repayments during the second half of this year, followed by another USD 46.3 bn in medium- and long-term repayments during 2024 and 2025, according to the most recently-available <a target=\"_blank\" href=\"https:\/\/ent.news\/2023\/9\/685.pdf\" style=\"\" rel=\"noopener\">central bank figures (pdf)<\/a>.<\/p>\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/debt-watch\/\">debt watch<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/finance-ministry\/\">Finance Ministry<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/mohamed-maait\/\">Mohamed Maait<\/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=\"606007\" 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=\"606007\">\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\/10\/beltone-venture-capital-acquires-20-of-home-decor-brand-ariika\/\">\r\n                            Beltone Venture Capital acquires 20% of Egypt-based home decor brand Ariika                        <\/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\/10\/beltone-venture-capital-acquires-20-of-home-decor-brand-ariika\/\" target=\"_blank\">\n                    Open in new tab                    <!-- <img decoding=\"async\" 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<a href=\"https:\/\/api.whatsapp.com\/send?text=Beltone+Venture+Capital+acquires+20%25+of+home+decor+brand+Ariika+https%3A%2F%2Fenterpriseam.com%2Fegypt%2F2023%2F09%2F10%2Fbeltone-venture-capital-acquires-20-of-home-decor-brand-ariika%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\/10\/beltone-venture-capital-acquires-20-of-home-decor-brand-ariika\/\">\r\n                    <div class=\"photo photo--above\">\r\n                        <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2023\/9\/663.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"606008\" data-permalink=\"https:\/\/enterpriseam.com\/egypt\/2023\/09\/10\/beltone-venture-capital-acquires-20-of-home-decor-brand-ariika\/663-jpg-12\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2023\/9\/663.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"663.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2023\/9\/663.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2023\/9\/663.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-606007\" class=\"content-area-description single-story post-606007 post type-post status-publish format-standard has-post-thumbnail hentry category-startup-watch tag-ariika tag-beltone-financial tag-beltone-venture-capital tag-enterpriseam tag-investment-watch tag-ma-watch tag-retail tag-startup-watch tag-venture-capital 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\/.3e875327-1a4b-44fd-96fc-3418cac02d6a.mp3\"><\/audio><\/figure>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"> <strong> Beltone Financial Holding\u2019s recently launched venture <\/strong><strong> capital arm has acquired 20% of local furniture and homeware brand Ariika <\/strong> for EGP 31 mn in a series A round, according to separate press releases from <a target=\"_blank\" href=\"https:\/\/ent.news\/2023\/9\/655.pdf\" style=\"\" rel=\"noopener\">Beltone (pdf)<\/a> and <a target=\"_blank\" href=\"https:\/\/www.wamda.com\/2023\/09\/ariika-raises-series-round-beltone-20-cent-stake\" style=\"\" rel=\"noopener\">Ariika<\/a> on Wednesday.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong> Ariika: <\/strong>Launched in 2016 as an online bean bag store, <a target=\"_blank\" href=\"https:\/\/ariika.com\/\" style=\"\" rel=\"noopener\">Ariika<\/a> now sells outdoor furniture, linens, sofas, bedding accessories, and more, largely through digital channels. Over the past seven years it has grown at a CAGR of more than 85% and has served some 800k customers across the region. Ariika is a Dutch firm, based in Cairo, and currently exports to markets including Saudi, the UAE, Iraq, Germany and Australia.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong> The firm has its eye on KSA: <\/strong> Ariika will use the fresh capital to establish a presence in Saudi Arabia in 4Q 2023 and is also eyeing other countries in the region. The company will also use the funds to expand its sales strategy and develop its tech and digital design offering with augmented-reality (AR) tools. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong> And export growth: <\/strong> Ariika says the funding will help it grow its exports from a current c. 15% of its sales to 50% by 2025. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong> Advisors: <\/strong>White & Case, El Boraie Law Firm, and Van Doorne acted as legal advisors on the transaction. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong> A running start for Beltone\u2019s new VC arm: <\/strong>The investment is the second in as many weeks for Beltone Venture Capital, which recently participated in healthtech startup <strong> Sehatech <\/strong>\u2019s <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/1a916859-498d-4a55-a6e6-c4531a54cbe6\" style=\"\" rel=\"noopener\">USD 850k pre-seed funding<\/a> round alongside A15. The firm launched <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/7fc94bfc-608b-48b6-a28b-cfa610c0f024\" style=\"\" rel=\"noopener\">earlier this year<\/a>, with the aim of providing early stage funding around the USD 250k mark to tech-enabled startups in impact sectors. In addition to Ariika and Sehatech, the company currently also has investments in courier service <strong> Bosta <\/strong> and online sportswear retailer <strong> Wayup Sports<\/strong>. Its parent company also last week acquired 100% of Minya-based microfinance provider Cash.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong> Remember: <\/strong> Beltone has money to spend following its landmark <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/415bf354-a92f-4abc-816f-129a1a31875b\" style=\"\" rel=\"noopener\">EGP 10 bn capital increase<\/a> in July, placing some 5 bn new shares on the EGX.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong> ICYMI- <\/strong>Ariika CEO and co-founder <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/5295191f-5933-40b2-87d0-8aea31657ca4\" style=\"\" rel=\"noopener\">Khaled Attalah sat down with us<\/a> in May to discuss the highs and lows of founding a startup.<\/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\/ariika\/\">Ariika<\/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\/beltone-venture-capital\/\">Beltone Venture Capital<\/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\/ma-watch\/\">M&amp;A Watch<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/retail\/\">retail<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/startup-watch\/\">Startup watch<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/venture-capital\/\">venture capital<\/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=\"606009\" 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=\"606009\">\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\">Economy<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2023\/09\/10\/every-little-bit-helps\/\">\r\n                            Egypt\u2019s FX reserves inch up in August                        <\/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\/10\/every-little-bit-helps\/\" 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\/10\/every-little-bit-helps\/')\">\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\/10\/every-little-bit-helps\/\">\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=Every little bit helps&url=https:\/\/enterpriseam.com\/egypt\/2023\/09\/10\/every-little-bit-helps\/\">\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\/10\/every-little-bit-helps\/&title=Every little bit helps\">\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=Every+little+bit+helps+https%3A%2F%2Fenterpriseam.com%2Fegypt%2F2023%2F09%2F10%2Fevery-little-bit-helps%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\/10\/every-little-bit-helps\/\">\r\n                    <div class=\"photo photo--above\">\r\n                        <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2023\/9\/673.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"606010\" data-permalink=\"https:\/\/enterpriseam.com\/egypt\/2023\/09\/10\/every-little-bit-helps\/673-jpg-10\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2023\/9\/673.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"673.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2023\/9\/673.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2023\/9\/673.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-606009\" class=\"content-area-description single-story post-606009 post type-post status-publish format-standard has-post-thumbnail hentry category-economy tag-central-bank-of-egypt tag-economy tag-enterpriseam tag-foreign-exchange tag-foreign-reserves 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\/.3e875327-1a4b-44fd-96fc-3418cac02d6a.mp3\"><\/audio><\/figure>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"> <strong> CBE adds another <\/strong><strong> USD 50 mn <\/strong><strong> to FX reserves in August: <\/strong>Net foreign reserves were essentially flat in August at USD 34.93 bn, up from <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/90f5738f-d596-4d28-a17e-445391b73297\" style=\"\" rel=\"noopener\">USD 34.88 bn in July<\/a>, according to <a target=\"_blank\" href=\"https:\/\/www.cbe.org.eg\/en\/news-publications\/news\/2023\/09\/07\/13\/40\/net-international-reserves-at-the-end-of-august-2023\" style=\"\" rel=\"noopener\">c<\/a> <a target=\"_blank\" href=\"https:\/\/www.cbe.org.eg\/en\/news-publications\/news\/2023\/09\/07\/13\/40\/net-international-reserves-at-the-end-of-august-2023\" style=\"\" rel=\"noopener\">entral bank figure<\/a> <a target=\"_blank\" href=\"https:\/\/www.cbe.org.eg\/en\/news-publications\/news\/2023\/09\/07\/13\/40\/net-international-reserves-at-the-end-of-august-2023\" style=\"\" rel=\"noopener\">s<\/a>. This is the 11th consecutive month that foreign reserves have increased, albeit very modestly each time.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong> USD 1.8 bn <\/strong><strong> and counting: <\/strong>The central bank has been trying to rebuild its reserves since last year when Russia\u2019s invasion of Ukraine precipitated heavy capital outflows and caused its FX stockpile to fall almost USD 8 bn to USD 33.1 bn last August.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong> Background: <\/strong> The global shock triggered by the war, combined with tightening global financial conditions across the world, has plunged the country into its worst FX crunch in years and left the EGP down by almost half against the greenback. The FX shortage and continued uncertainty about the currency has fuelled a resurgent parallel currency market that has placed further pressure on FX liquidity in the banking system. <\/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\/central-bank-of-egypt\/\">Central Bank of Egypt<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/economy\/\">economy<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/foreign-exchange\/\">foreign exchange<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/foreign-reserves\/\">foreign reserves<\/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=\"606011 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=\"606011\">\r\n            \r\n            <div class=\"story__body\">\r\n\r\n                <a href=\"https:\/\/enterpriseam.com\/egypt\/2023\/09\/10\/606011\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-606011\" class=\"content-area-description single-story post-606011 post type-post status-publish format-standard hentry category-advertiser wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<p><span style=\"font-weight:400;\"><a href=\"https:\/\/imagine.sodic.com\" target=\"_blank\" rel=\"noopener\"><img data-recalc-dims=\"1\" decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2023\/7\/927.jpg?ssl=1\"><\/a><\/span><\/p>\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"606012\" 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=\"606012\">\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\/10\/morocco-earthquake-g20-summit-dominate-coverage-on-the-airwaves\/\">\r\n                            Morocco earthquake, G20 summit dominate coverage on 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\/10\/morocco-earthquake-g20-summit-dominate-coverage-on-the-airwaves\/\" 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\/10\/morocco-earthquake-g20-summit-dominate-coverage-on-the-airwaves\/')\">\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\/10\/morocco-earthquake-g20-summit-dominate-coverage-on-the-airwaves\/\">\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=Morocco earthquake, G20 summit dominate coverage on the airwaves&url=https:\/\/enterpriseam.com\/egypt\/2023\/09\/10\/morocco-earthquake-g20-summit-dominate-coverage-on-the-airwaves\/\">\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\/10\/morocco-earthquake-g20-summit-dominate-coverage-on-the-airwaves\/&title=Morocco earthquake, G20 summit dominate coverage on the airwaves\">\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=Morocco+earthquake%2C+G20+summit+dominate+coverage+on+the+airwaves+https%3A%2F%2Fenterpriseam.com%2Fegypt%2F2023%2F09%2F10%2Fmorocco-earthquake-g20-summit-dominate-coverage-on-the-airwaves%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\/10\/morocco-earthquake-g20-summit-dominate-coverage-on-the-airwaves\/\">\r\n                    <div class=\"photo photo--above\">\r\n                        <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2023\/9\/683.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"606013\" data-permalink=\"https:\/\/enterpriseam.com\/egypt\/2023\/09\/10\/morocco-earthquake-g20-summit-dominate-coverage-on-the-airwaves\/683-jpg-7\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2023\/9\/683.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"683.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2023\/9\/683.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2023\/9\/683.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-606012\" class=\"content-area-description single-story post-606012 post type-post status-publish format-standard has-post-thumbnail hentry category-last-nights-talk-shows tag-diplomacy tag-enterpriseam tag-g20 tag-grand-egyptian-museum tag-india tag-last-nights-talk-shows tag-morocco tag-natural-disasters tag-politics 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\/.574d497e-6124-4ec1-a0bd-359d85844d59.mp3\"><\/audio><\/figure>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong> Morocco\u2019s deadly earthquake dominated the airwaves last night<\/strong>,with Al Hayah Al Youm (<a target=\"_blank\" href=\"https:\/\/www.youtube.com\/watch?v=uzHr0syPguc\" style=\"\" rel=\"noopener\">watch, runtime: 4:26<\/a>), Masaa DMC (<a target=\"_blank\" href=\"https:\/\/www.youtube.com\/watch?v=tgHH3t-kFf4\" style=\"\" rel=\"noopener\">watch, runtime: 6:52<\/a>), and Ala Mas\u2019ouleety (<a target=\"_blank\" href=\"https:\/\/www.youtube.com\/watch?v=xoqKnIJqXRM\" style=\"\" rel=\"noopener\">watch, runtime: 2:47<\/a>) all providing coverage of the disaster which has killed more than 2k people. El Hekaya\u2019s Amr Adib, who was back from his summer break yesterday with a broadcast live from London, also discussed the events in the North African country (<a target=\"_blank\" href=\"https:\/\/www.youtube.com\/watch?v=cK_cidmBEIg\" style=\"\" rel=\"noopener\">watch, runtime: 3:23<\/a>). We have more details in this morning\u2019s What We\u2019re Tracking Today, above. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong> The first day of the G20 summit in India also got plenty of attention: <\/strong>Al Hayah Al Youm\u2019s Lobna Assal spoke with economist Mostafa Badra <a target=\"_blank\" href=\"https:\/\/www.youtube.com\/watch?v=YRkERe-Jd2Q\" style=\"\" rel=\"noopener\">(watch runtime 6:50<\/a>), who said the G20\u2019s recommendations represent a shift from talks to action but called on them to go further and provide more debt relief for struggling countries. He also highlighted calls for reforming international financial institutions, such as the World Bank and the IMF, saying they don\u2019t provide sufficient finance to poorer nations struggling amid the current global economic headwinds.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong> There was more: <\/strong> Masaa DMC\u2019s Eman El Hosary talked to the head of the Cairo Center for Economic Research, Abdel Moneim El Said, about Egypt\u2019s participation at the summit (watch, runtime: <a target=\"_blank\" href=\"https:\/\/www.youtube.com\/watch?v=-6Id1vvKOw4\" style=\"\" rel=\"noopener\">9:23<\/a> | <a target=\"_blank\" href=\"https:\/\/www.youtube.com\/watch?v=YRkERe-Jd2Q\" style=\"\" rel=\"noopener\">6:27<\/a>) and Fakhry El Fiqi, head of the House Planning and Budget Committee, who touched on the African Union joining the G20 and Egypt\u2019s role in advancing the African Continental Freetrade Area.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong> ALSO- The Grand Egyptian Museum got airtime <\/strong> after the prime minister\u2019s visit to the site over the weekend to check up on progress. In an interview with Al Hadath Al Youm\u2019s Said Ali (<a target=\"_blank\" href=\"https:\/\/www.youtube.com\/watch?v=9nGOUUruHOc\" style=\"\" rel=\"noopener\">watch, runtime: 6:15<\/a>), Secretary-General of the Supreme Council of Antiquities Mostafa Waziri said that all of the works will wrap up by October and that it would be ready for opening in November. He declined to provide an official opening date, saying only that \u201cit\u2019s up to decision makers due to global conditions.\u201d Waziri also sat down for an extended interview with Ala Mas\u2019ouleety\u2019s Ahmed Moussa (<a target=\"_blank\" href=\"https:\/\/www.youtube.com\/watch?v=VWqyTPJUAeY\" style=\"\" rel=\"noopener\">watch, runtime: 36:11<\/a>) while Al Hayah Al Youm covered the PM\u2019s visit (<a target=\"_blank\" href=\"https:\/\/www.youtube.com\/watch?v=7irDgEPjh2I\" style=\"\" rel=\"noopener\">watch, runtime: 3:11<\/a>).<\/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\/diplomacy\/\">DIPLOMACY<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/g20\/\">G20<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/grand-egyptian-museum\/\">Grand Egyptian Museum<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/india\/\">India<\/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\/morocco\/\">Morocco<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/natural-disasters\/\">natural disasters<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/politics\/\">politics<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/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=\"606014\" 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 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<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-rna6h1v\" data-v=\"4\" data-block-id=\"rna6h1v\"><div class=\"stk-column-wrapper stk-block-column__content stk-container stk-rna6h1v-container stk--no-background stk--no-padding\"><div class=\"stk-block-content stk-inner-blocks stk-rna6h1v-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\/240923.png?ssl=1\">\r\n                <div class=\"overlay\"><\/div>\r\n                <div class=\"content\">\r\n                    <a draggable=\"false\" href=\"https:\/\/efghldg.com\/en\" target=\"_blank\" class=\"logo\" rel=\"noopener\">\r\n                        <img decoding=\"async\" draggable=\"false\" src=\"https:\/\/ent.news\/internal\/27488.svg\" alt=\"\">\r\n                    <\/a>\r\n                    <span>Realize More<\/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-sjbdtyl\" data-v=\"4\" data-block-id=\"sjbdtyl\"><div class=\"stk-column-wrapper stk-block-column__content stk-container stk-sjbdtyl-container stk--no-background stk--no-padding\"><div class=\"stk-block-content stk-inner-blocks stk-sjbdtyl-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 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src=\"https:\/\/i0.wp.com\/ent.news\/internal\/240925.png?ssl=1\">\r\n                <div class=\"overlay\"><\/div>\r\n                <div class=\"content\">\r\n                    <a draggable=\"false\" href=\"https:\/\/weareinfinity.com\/\" target=\"_blank\" class=\"logo\" rel=\"noopener\">\r\n                        <img decoding=\"async\" draggable=\"false\" src=\"https:\/\/i0.wp.com\/ent.news\/internal\/27483.png?fit=300%2C300&#038;ssl=1\" alt=\"\">\r\n                    <\/a>\r\n                    <span>Powering with nature<\/span>\r\n                <\/div>\r\n            <\/div>\r\n            <\/div><\/div><\/div>\r\n        \r\n            <div class=\"wp-block-stackable-column stk-block-column stk-column stk-block stk-f9qjpdl\" data-v=\"4\" data-block-id=\"f9qjpdl\"><div class=\"stk-column-wrapper stk-block-column__content stk-container stk-f9qjpdl-container stk--no-background stk--no-padding\"><div class=\"stk-block-content stk-inner-blocks stk-f9qjpdl-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\" 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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=\"606015\" 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=\"606015\">\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\/10\/its-a-mixed-bag-for-egypt-in-the-international-press-this-morning\/\">\r\n                            A mixed bag for Egypt in the international press on the morning of 10 September 2023                        <\/a>\r\n                    <\/h3>\r\n\r\n                    \r\n\t\t\t\t\t\n<div class=\"cta\">\n    <div class=\"cta__btn share-dropdown-cta dropdown-toggle-btn\" style=\"position:relative\">\n        <img decoding=\"async\" src=\"https:\/\/ent.news\/internal\/408834.svg\" alt=\"\">\n        Share Story\n        <!-- Dropdown Menu -->\n        <ul class=\"share-menu\">\n            <li class=\"list-inline-item\">\n                <a href=\"https:\/\/enterpriseam.com\/egypt\/2023\/09\/10\/its-a-mixed-bag-for-egypt-in-the-international-press-this-morning\/\" target=\"_blank\">\n                    Open in new tab                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/new-tab.svg\" alt=\"\"> 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size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"606016\" data-permalink=\"https:\/\/enterpriseam.com\/egypt\/2023\/09\/10\/its-a-mixed-bag-for-egypt-in-the-international-press-this-morning\/678-jpg-8\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2023\/9\/678.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"678.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2023\/9\/678.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2023\/9\/678.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-606015\" class=\"content-area-description single-story post-606015 post type-post status-publish format-standard has-post-thumbnail hentry category-egypt-in-the-news tag-egypt-us-relations tag-enterpriseam tag-hisham-kassem 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\/.17efb23f-f3c9-4912-9780-8f4ed36e9a0b.mp3\"><\/audio><\/figure>\n<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 global conversation on Egypt this morning. <\/strong> The <a target=\"_blank\" href=\"https:\/\/www.washingtonpost.com\/world\/2023\/09\/08\/egypt-us-aid-human-rights\/\" style=\"\" rel=\"noopener\">Washington Post<\/a> has a look at whether the State Department will withhold part of America\u2019s USD 1.3 bn in <strong> military aid <\/strong> to Egypt, while <a target=\"_blank\" href=\"https:\/\/www.thenationalnews.com\/mena\/egypt\/2023\/09\/09\/egyptian-court-sets-date-for-ruling-in-slander-case-against-activist-hisham-kassem\/\" style=\"\" rel=\"noopener\">the National<\/a> notes that veteran publisher and political organizer <strong> Hisham Kassem <\/strong> will hear a verdict this week in a defamation case involving a former government minister. Meanwhile, <a target=\"_blank\" href=\"https:\/\/www.economist.com\/middle-east-and-africa\/2023\/09\/07\/egypts-cities-of-the-dead\" style=\"\" rel=\"noopener\">the Economist<\/a> notes that a court will soon decide whether to allow the government to demolish more of the <strong> City of the Dead <\/strong> to make room for a flyover.<\/p>\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/egypt-us-relations\/\">Egypt-US relations<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/hisham-kassem\/\">Hisham Kassem<\/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=\"606017\" class=\"issue-section \">\n<div class=\"issue-section__content\">\n<div class=\"stories\">    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"606018\" 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=\"606018\">\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\/10\/more-than-6-consortiums-interested-in-north-coast-solar-tender-plus-local-wheat-yalla-is-heading-to-ksa-golden-licenses-in-the-bag-for-4-projects\/\">\r\n                            More than 6 consortiums interested in north coast solar tender. PLUS: Local wheat, Yalla is heading to KSA, golden licenses in the bag for 4 projects.                        <\/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\/10\/more-than-6-consortiums-interested-in-north-coast-solar-tender-plus-local-wheat-yalla-is-heading-to-ksa-golden-licenses-in-the-bag-for-4-projects\/\" target=\"_blank\">\n                    Open in new tab                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/new-tab.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a href=\"#\" target=\"_blank\" onclick=\"event.preventDefault(); navigator.clipboard.writeText('https:\/\/enterpriseam.com\/egypt\/2023\/09\/10\/more-than-6-consortiums-interested-in-north-coast-solar-tender-plus-local-wheat-yalla-is-heading-to-ksa-golden-licenses-in-the-bag-for-4-projects\/')\">\n                    Copy Link                <\/a>\n\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a target=\"_blank\" href=\"https:\/\/www.facebook.com\/sharer.php?u=https:\/\/enterpriseam.com\/egypt\/2023\/09\/10\/more-than-6-consortiums-interested-in-north-coast-solar-tender-plus-local-wheat-yalla-is-heading-to-ksa-golden-licenses-in-the-bag-for-4-projects\/\">\n                    Facebook                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/facebook-icon2.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a target=\"_blank\" href=\"https:\/\/x.com\/intent\/post?text=More than 6 consortiums interested in north coast solar tender. PLUS: Local wheat, Yalla is heading to KSA, golden licenses in the bag for 4 projects.&url=https:\/\/enterpriseam.com\/egypt\/2023\/09\/10\/more-than-6-consortiums-interested-in-north-coast-solar-tender-plus-local-wheat-yalla-is-heading-to-ksa-golden-licenses-in-the-bag-for-4-projects\/\">\n                    X                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/twitter-icon.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a target=\"_blank\" href=\"https:\/\/www.linkedin.com\/shareArticle?mini=true&url=https:\/\/enterpriseam.com\/egypt\/2023\/09\/10\/more-than-6-consortiums-interested-in-north-coast-solar-tender-plus-local-wheat-yalla-is-heading-to-ksa-golden-licenses-in-the-bag-for-4-projects\/&title=More than 6 consortiums interested in north coast solar tender. PLUS: Local wheat, Yalla is heading to KSA, golden licenses in the bag for 4 projects.\">\n                    LinkedIn                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/linkedin-icon.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a href=\"https:\/\/api.whatsapp.com\/send?text=More+than+6+consortiums+interested+in+north+coast+solar+tender.+PLUS%3A+Local+wheat%2C+Yalla+is+heading+to+KSA%2C+golden+licenses+in+the+bag+for+4+projects.+https%3A%2F%2Fenterpriseam.com%2Fegypt%2F2023%2F09%2F10%2Fmore-than-6-consortiums-interested-in-north-coast-solar-tender-plus-local-wheat-yalla-is-heading-to-ksa-golden-licenses-in-the-bag-for-4-projects%2F\">\n                    WhatsApp                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/whatsapp-icon.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n        <\/ul>\n    <\/div>\n        <\/div>\r\n                    \r\n                <\/div>\r\n\r\n            \r\n            <div class=\"story__body\">\r\n\r\n                <a href=\"https:\/\/enterpriseam.com\/egypt\/2023\/09\/10\/more-than-6-consortiums-interested-in-north-coast-solar-tender-plus-local-wheat-yalla-is-heading-to-ksa-golden-licenses-in-the-bag-for-4-projects\/\">\r\n                    <div class=\"photo photo--above\">\r\n                        <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2023\/9\/676.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"606019\" data-permalink=\"https:\/\/enterpriseam.com\/egypt\/2023\/09\/10\/more-than-6-consortiums-interested-in-north-coast-solar-tender-plus-local-wheat-yalla-is-heading-to-ksa-golden-licenses-in-the-bag-for-4-projects\/676-jpg-7\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2023\/9\/676.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"676.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2023\/9\/676.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2023\/9\/676.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-606018\" class=\"content-area-description single-story post-606018 post type-post status-publish format-standard has-post-thumbnail hentry category-also-on-our-radar tag-agriculture tag-al-nowais tag-also-on-our-radar tag-amea-power tag-aquila tag-commodities tag-energy tag-engie tag-enterpriseam tag-fintech tag-gennvax tag-golden-licenses tag-green-hydrogen tag-manufacturing tag-midea-group tag-paysky tag-renewables tag-scatec tag-solar-power tag-sphinx-international-airport tag-tourism tag-toyota-tsusho tag-transport tag-wheat tag-yalla-super-app 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\/.17efb23f-f3c9-4912-9780-8f4ed36e9a0b.mp3\"><\/audio><\/figure>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong> ENERGY- <\/strong><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"> <strong> #1- Interest in north coast solar plants: <\/strong> More than six consortiums have expressed interest in the tender for <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/a423c134-0e3b-40af-9bc1-7ab40b8dd0d4\" style=\"\" rel=\"noopener\">five solar power plants<\/a> up for grabs on the north coast, <a target=\"_blank\" href=\"https:\/\/bit.ly\/3EyKo0k\" style=\"\" rel=\"noopener\">Ash<\/a> <a target=\"_blank\" href=\"https:\/\/bit.ly\/3EyKo0k\" style=\"\" rel=\"noopener\">arq Busin<\/a> <a target=\"_blank\" href=\"https:\/\/bit.ly\/3EyKo0k\" style=\"\" rel=\"noopener\">ess<\/a> reports, citing a government official. Bidders for the plants include Saudi Arabia\u2019s Acwa Power, Norwegian renewables producer Scatec, Japan\u2019s Toyota, France\u2019s Engie, Al Nowais subsidiary AMEA Power, and British renewables investment company <a target=\"_blank\" href=\"https:\/\/www.aquila-european-renewables.com\/\" style=\"\" rel=\"noopener\">Aquila<\/a>, according to the news outlet. The consortiums have until 27 September to submit their offers to the Egyptian Electricity Holding Company. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong> The five concentrated solar power plants will power water desalination plants on the <\/strong><strong> Mediterranean coast <\/strong><strong> . <\/strong> The plants are expected to require a combined USD 270 mn worth of investment and will be built under a 25-year build-own-operate contract. They will have a combined capacity of 250 MW and will help desalinate over 400k cubic meters of water per day.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong> #2- Our new council for green hydrogen gets ratified: <\/strong> Prime Minister Moustafa Madbouly has issued a decision to set up the council for green hydrogen that was approved by the cabinet late <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/2857ec15-d37e-4e4d-a65d-ff47ee88cc80\" style=\"\" rel=\"noopener\">last month<\/a>. The council is tasked with overseeing the implementation of the government\u2019s green hydrogen strategy. The body will formally be called the National Council for Green Hydrogen and Its Derivatives and will be headed by the PM and featurekey cabinet ministers as well as the heads of the Suez Canal Economic Zone, the General Authority for Investment (GAFI) and the Sovereign Fund of Egypt.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong> Remember: <\/strong> We still haven\u2019t seen the government\u2019s long-awaited green hydrogen strategy. Cabinet <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/a10abfdb-9dc8-4c91-ab5d-8513537de698\" style=\"\" rel=\"noopener\">published a list of draft tax incentives<\/a> in May but we are yet to see the full strategy.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong> COMMODITIES- <\/strong><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong> Gov\u2019t falls short of local wheat procurement targets -Asharq: <\/strong>The government procured around 3.4 mn tons of wheat from local farmers during this year\u2019s harvest, down 10% from last year, <a target=\"_blank\" href=\"https:\/\/bit.ly\/3Zravjr\" style=\"\" rel=\"noopener\">As<\/a> <a target=\"_blank\" href=\"https:\/\/bit.ly\/3Zravjr\" style=\"\" rel=\"noopener\">harq Busine<\/a> <a target=\"_blank\" href=\"https:\/\/bit.ly\/3Zravjr\" style=\"\" rel=\"noopener\">ss<\/a> reports, citing government documents it says it has seen. This is lower than the <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/991426a8-1f58-441f-8d4e-4e5e151fdfb5\" style=\"\" rel=\"noopener\">4 mn-ton target<\/a> originally set for the 2023 season, which wrapped up in August. The government had hiked prices to <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/9f49d93c-1116-47f2-ab65-178beb953104\" style=\"\" rel=\"noopener\">EGP 1.5k per ardeb<\/a> in a bid to increase production and reduce reliance on imported wheat.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong> Farmers went private: <\/strong>Some wheat farmers sold their harvest to private-sector players, who were offering EGP 1.7k per ardeb, a number of farmers told Asharq. Others have been storing their wheat or using it as livestock feed amid a shortage of corn and other expensive grains, <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong> Fewer crops planted: <\/strong>This year\u2019s season saw some 3.2 mn feddans planted with wheat, down from last year\u2019s 3.65 mn acres, as farmers shift their focus to feed, one government official told the news outlet. Egypt currently has some 4.7 months of wheat in reserve. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong> FINTECH- <\/strong><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong> Yalla gears up for Saudi launch: <\/strong>PaySky\u2019s <a target=\"_blank\" href=\"https:\/\/yalla.online\/\" style=\"\" rel=\"noopener\">Yalla<\/a> fintech platform has signed agreements with Saudi\u2019s Alinma Bank, Digital Pay, and a number of financial institutions in preparation to launch its platform in Saudi Arabia later in 2023, the company said Thursday in <a target=\"_blank\" href=\"https:\/\/ent.news\/2023\/9\/668.pdf\" style=\"\" rel=\"noopener\">a press release (pdf)<\/a>. The agreements, announced at an industry conference in Riyadh, will make Yalla\u2019s wide range of electronic payment solutions, including Yalla Super App and Yalla Business, accessible to Saudi individuals and businesses.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong> What they said: <\/strong> Yalla founder and CEO Waleed Sadek called the entry into Saudi Arabia a \u201cpivotal milestone\u201d for the company, and said it aims to attract 1 mn users there within the first year. The Yalla super app has 2 mn users in Egypt and has been used to process more than 7 mn transactions.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong> INVESTMENT- <\/strong><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong> Four projects get their golden licenses: <\/strong> The <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/e65bdd83-a3be-4bf7-a585-c8456ab845bd\" style=\"\" rel=\"noopener\">500-MW wind farm<\/a> in Ras Ghareb, Gennvax\u2019s USD 150 mn vaccine factory, Midea Group\u2019s USD 105 mn home appliance factory in Sadat; and BLM & Africa\u2019s EGP 885 mn medical dressings factory formally received their golden licenses at a ceremony on Friday, according to a <a target=\"_blank\" href=\"https:\/\/www.facebook.com\/EgyptianCabinet\/posts\/pfbid0s7jZgK4NfD6wKAAfbnarTGRizDa2m1C1mDPk9NJqXfmpTuD6CgVpMrrumKbSFADal\" style=\"\" rel=\"noopener\">cabinet statement<\/a>. The government had <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/2583fa6e-4631-4569-ad50-be28c5a3e0b4\" style=\"\" rel=\"noopener\">p<\/a> <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/2583fa6e-4631-4569-ad50-be28c5a3e0b4\" style=\"\" rel=\"noopener\">reviously announced<\/a> that all four projects would receive the single approval licenses, which speed up bureaucratics procedures for priority projects.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong> TOURISM- <\/strong><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong> Flydubai to launch daily Dubai-Cairo flight: <\/strong>Dubai-based airline Flydubai will begin daily flights to Cairo\u2019s Sphinx International Airport on 28 October to cater for increasing demand, UAE state news agency <a target=\"_blank\" href=\"https:\/\/wam.ae\/en\/details\/1395303194500\" style=\"\" rel=\"noopener\">WAM<\/a> reports.<\/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\/agriculture\/\">agriculture<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/al-nowais\/\">Al Nowais<\/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\/amea-power\/\">AMEA Power<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                 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before story section -->\r\n        <div \r\n            class=\"\r\n                story-section            \"\r\n            id=\"606020\">\r\n            \r\n                <div class=\"issue-story-header text-center\">\r\n                    <div class=\"index-number\">10<\/div>\r\n\r\n                    <p class=\"f-graphik\">PLANET FINANCE<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2023\/09\/10\/a-tale-of-two-ipos\/\">\r\n                            Bookbuilding for Arm + Saudi car rental firm Lumi\u2019s IPOs see strong investor demand                        <\/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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data-permalink=\"https:\/\/enterpriseam.com\/egypt\/2023\/09\/10\/a-tale-of-two-ipos\/681-jpg-9\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2023\/9\/681.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"681.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2023\/9\/681.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2023\/9\/681.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-606020\" class=\"content-area-description single-story post-606020 post type-post status-publish format-standard has-post-thumbnail hentry category-planet-finance tag-arm tag-china tag-efg-hermes tag-enterpriseam tag-financial-markets tag-fitch tag-fitch-ratings tag-lumi tag-mubadala tag-planet-finance tag-saudi-arabia tag-saudi-fransi-capital tag-softbank tag-turkey tag-uae 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\/.4ecda1a6-5306-450b-b9ed-6b7be8211839.mp3\"><\/audio><\/figure><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong> IPO WATCH- <\/strong><strong> #1- Arm IPO 5x oversubscribed: <\/strong>Bankers pitching investors on SoftBank\u2019s <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/af6e323d-a24e-4d4a-a9ef-606139caf447\" style=\"\" rel=\"noopener\">initial<\/a> <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/af6e323d-a24e-4d4a-a9ef-606139caf447\" style=\"\" rel=\"noopener\">public offering<\/a> of Arm say the flotation is more than five times oversubscribed, bankers involved in the book-building process tell the the <a target=\"_blank\" href=\"https:\/\/www.ft.com\/content\/a4dc854b-cdf9-4c13-b973-f39b3fa917a4\" style=\"\" rel=\"noopener\">Financial Times<\/a>. The strong demand comes as the company tries to position itself as one of the future\u2019s big AI companies in response to concerns about its growth prospects in its core market.<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong> IPO WATCH #2- There\u2019s huge demand for Saudi car rental firm Lumi<\/strong>, which has priced its IPO at the top of the range after last week\u2019s institutional book-building process was 94.5x oversubscribed, it <a target=\"_blank\" href=\"https:\/\/ent.news\/2023\/9\/680.pdf\" style=\"\" rel=\"noopener\">said (pdf)<\/a> Thursday. The company\u2019s shares will debut on the Saudi stock exchange at SAR 66 apiece, valuing the firm at SAE 3.63 bn. It will raise almost SAR 1.1 bn by selling 16.5 mn shares, equivalent to a 30% stake.<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong> What\u2019s next: <\/strong> The retail component of the offering will take place on 12 September, and the final allocation of the shares will happen on 21 September.<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong> Advisors: <\/strong> EFG Hermes is working as a joint bookrunner alongside Saudi Fransi Capital, which is also the financial advisor, lead manager and underwriter. <\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong> ALSO WORTH NOTING- <\/strong><\/p><ul>\n<li><strong> Another sign of warming Gulf-China ties: <\/strong> Mubadala, one of the largest sovereign investment managers in the Gulf, has opened an office in Beijing as it looks to deepen its investments in China. (<a target=\"_blank\" href=\"https:\/\/www.reuters.com\/world\/middle-east\/mubadala-formally-opens-beijing-office-amid-warming-china-gulf-ties-sources-2023-09-08\/\" style=\"\" rel=\"noopener\">Reuters<\/a>)<\/li>\n<li><strong> Good news for Turkey: <\/strong> Fitch Ratings has revised Turkey\u2019s credit rating from negative to stable, as President Erdogan\u2019s new administration adopts more conventional fiscal and monetary policies to steer the country out of its economic crisis. (<a target=\"_blank\" href=\"https:\/\/www.bloomberg.com\/news\/articles\/2023-09-08\/turkey-s-credit-outlook-raised-by-fitch-as-new-policies-pay-off\" style=\"\" rel=\"noopener\">Bloomberg<\/a>) <\/li>\n<\/ul><p><a target=\"_blank\" id=\"t.149393e5e91997ae173d05910ebcdef13a0f4c61\" 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-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> 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\">19,376<\/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: +32.7%)<\/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\">11,216<\/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: +7.0%)<\/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> 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\">9,691<\/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: -5.1%)<\/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> 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\">4,067<\/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: +21.9%)<\/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> 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\">4,457<\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">+0.1% (YTD: +16.1%)<\/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> 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\">7,478<\/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\">+0.5% (YTD: +0.4%)<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-up\">\n<td class=\"td-list-up\">\n<p><svg class=\"e-icon e-TypeMarkets11\"><use xlink:href=\"#e-TypeMarkets11\"><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong> 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\">4,237<\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">+0.4% (YTD: +11.7%)<\/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 90.65<\/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%<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-up\">\n<td class=\"td-list-up\">\n<p><svg class=\"e-icon e-TypeMarkets11\"><use xlink:href=\"#e-TypeMarkets11\"><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong> Natural gas <\/strong>(Nymex)<\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">USD 2.61<\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">+1.0%<\/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> 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 1,942.70<\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">0.0%<\/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> 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 25,863<\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">-0.1% (YTD: +56.5%)<\/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 rose 0.8% at Thursday\u2019s close <\/strong> on turnover of EGP 1.83 bn (13.7% below the 90-day average). Regional investors were net buyers. The index is up 32.7% YTD.<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong> In the green: <\/strong>Telecom Egypt (+4.0%), Fawry (+2.7%) and Eastern Company (+2.6%).<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong> In the red: <\/strong>Ezz Steel (-1.9%), Orascom Development Egypt (-1.4%) and Alexandria Containers and Cargo Handling (-1.2%).<\/p>\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/arm\/\">Arm<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/china\/\">China<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/efg-hermes\/\">EFG Hermes<\/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\/fitch\/\">Fitch<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/fitch-ratings\/\">Fitch Ratings<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/lumi\/\">Lumi<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/mubadala\/\">Mubadala<\/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\/saudi-arabia\/\">Saudi Arabia<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/saudi-fransi-capital\/\">Saudi Fransi Capital<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/softbank\/\">SoftBank<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/turkey\/\">Turkey<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/uae\/\">UAE<\/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=\"606022\" 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=\"606022\">\r\n            \r\n                <div class=\"issue-story-header text-center\">\r\n                    <div class=\"index-number\">11<\/div>\r\n\r\n                    <p class=\"f-graphik\">Diplomacy<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2023\/09\/10\/el-sisi-in-diplomatic-overdrive-at-g20-summit-in-new-delhi\/\">\r\n                            Egyptian president attends G20 leaders summit in New Delhi                        <\/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\/10\/el-sisi-in-diplomatic-overdrive-at-g20-summit-in-new-delhi\/\" target=\"_blank\">\n                    Open in new tab                    <!-- <img decoding=\"async\" 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data-attachment-id=\"606023\" data-permalink=\"https:\/\/enterpriseam.com\/egypt\/2023\/09\/10\/el-sisi-in-diplomatic-overdrive-at-g20-summit-in-new-delhi\/661-jpg-16\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2023\/9\/661.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"661.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2023\/9\/661.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2023\/9\/661.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-606022\" class=\"content-area-description single-story post-606022 post type-post status-publish format-standard has-post-thumbnail hentry category-diplomacy tag-abdel-fattah-el-sisi tag-african-union tag-charles-michel tag-diplomacy tag-egypt-eu-relations tag-enterpriseam tag-hala-el-said tag-planning-ministry tag-politics tag-ursula-von-der-leyen tag-world-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\/.f2cd8098-eda5-46be-9692-ed9d506b2f02.mp3\"><\/audio><\/figure>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"> <strong> President Abdel Fattah El Sisi led a <\/strong><strong> delegation to New Delhi on Saturday to join G20 leaders <\/strong> (minus China\u2019s <a target=\"_blank\" href=\"https:\/\/www.ft.com\/content\/0d5b7b33-3fe3-41d8-b910-cec19a127313\" style=\"\" rel=\"noopener\">Xi Xinping<\/a> and Russia\u2019s <a target=\"_blank\" href=\"https:\/\/www.bbc.com\/news\/world-asia-india-66603137\" style=\"\" rel=\"noopener\">Vladimir Putin<\/a>) for the 2023 leaders summit over the weekend, Ittihadiya said in <a target=\"_blank\" href=\"https:\/\/www.facebook.com\/Egy.Pres.Spokesman\/posts\/pfbid0K926we2yzvKBcAzgEVUn15JhHxcbVYtkRnaxPMds4cHTCaZmp2hmHC169kSH2FVWl\" style=\"\" rel=\"noopener\">a statement<\/a>. Egypt is among the non-G20 countries invited by the hosts India to attend the events this year. The two-day summit ends today. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong> On his agenda: <\/strong> El Sisi is focusing on issues concerning developing countries, with a focus on Africa, Ittihadiya said. He will stress the importance of \u201cstrengthening international efforts to facilitate the integration of developing countries in the global economy in an equal manner,\u201d and adhering to pledges made to the developing world on climate finance. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong> Yesterday\u2019s meetings were a who\u2019s who of European leaders: <\/strong>El Sisi held one-on-one meetings with <a target=\"_blank\" href=\"https:\/\/www.facebook.com\/Egy.Pres.Spokesman\/posts\/868551807966882\" style=\"\" rel=\"noopener\">European Commiss<\/a> <a target=\"_blank\" href=\"https:\/\/www.facebook.com\/Egy.Pres.Spokesman\/posts\/868551807966882\" style=\"\" rel=\"noopener\">ion<\/a> <a target=\"_blank\" href=\"https:\/\/www.facebook.com\/Egy.Pres.Spokesman\/posts\/868551807966882\" style=\"\" rel=\"noopener\">President Ursula von der Leyen<\/a> and <a target=\"_blank\" href=\"https:\/\/www.facebook.com\/Egy.Pres.Spokesman\/posts\/868518731303523\" style=\"\" rel=\"noopener\">European Council President Charles Michel<\/a> to discuss bilateral relations and regional issues, including Egypt\u2019s role combating illegal immigration. He also participated in <a target=\"_blank\" href=\"https:\/\/www.facebook.com\/Egy.Pres.Spokesman\/posts\/868555231299873\" style=\"\" rel=\"noopener\">a mini-summit<\/a> between African and European leaders, during which he called on the international community to work together to solve the rising food insecurity among developing countries.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong> Also: <\/strong> The president held conversations with global leaders including South African President Cyril Ramaphosa, Brazilian President Lula da Silva, Japanese Prime Minister Fumio Kishida, Chinese Prime Minister Li Qiang, Comorian President Azali Assoumani, and WHO Director-General Tedros Adhanom Ghebreyesus, according to a separate <a target=\"_blank\" href=\"https:\/\/www.facebook.com\/Egy.Pres.Spokesman\/posts\/pfbid02a9Xqot8Nbi7qJ2QJghPfshzrHRbi21tuUUdn3ikjYLtkvghrBA8tTRk5QT5XMZ1zl\" style=\"\" rel=\"noopener\">Ittihadiya<\/a> readout.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong> ALSO IN DIPLO- Egypt-World Bank talks: <\/strong>Planning Minister Hala El Said met with a World Bank delegation led by the lender\u2019s Human Development Director for the MENA region Fadia Saadah in Cairo yesterday, the Planning Ministry <a target=\"_blank\" href=\"https:\/\/bit.ly\/3LgupYs\" style=\"\" rel=\"noopener\">said<\/a> yesterday. Development programs in Upper Egypt, the ministry\u2019s structural reforms, and the country\u2019s green agenda were all discussed, according to the statement.<\/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\/african-union\/\">African Union<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/charles-michel\/\">Charles Michel<\/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-eu-relations\/\">Egypt-EU relations<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/hala-el-said\/\">Hala El Said<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/planning-ministry\/\">Planning Ministry<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/politics\/\">politics<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/ursula-von-der-leyen\/\">Ursula von der Leyen<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/world-bank\/\">World Bank<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                    <\/div>\n    <\/div>\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"606024\" 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\/10\/606024\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-606024\" class=\"content-area-description single-story post-606024 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 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>10-12 September (Sunday-Tuesday): <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/www.saharaexpo.com\/en\/home.html\" style=\"\">Sahara agriculture exhibition<\/a><\/span><span>, 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>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;\">26 September (Tuesday): Taqa Arabia\u2019s ordinary general assembly meeting.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:400;\">27 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>27 September (Wednesday): Deadline for bidding in tender for five solar plants on north coast.<\/span><\/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): Eastern Company will hold an ordinary general assembly meeting to approve the company\u2019s financials for the 2022-2023 FY.<\/span><\/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;\">Signposted to happen sometime in September:<\/span><\/p>\n<ul>\n<li><span style=\"font-weight:400;\">Sustainable Debt Coalition Initiative agreed at COP27 to launch <\/span><\/li>\n<li><span style=\"font-weight:400;\">IDH to open first branch in Saudi Arabia<\/span><\/li>\n<li><span style=\"font-weight:400;\">The Egypt-Germany trade and investment joint conference in Cairo<\/span><\/li>\n<li><span>ADQ to acquire stakes in Elab, Ethydco and EDC by end of month<\/span><\/li>\n<\/ul>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:700\">OCTOBER <\/span><\/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\">Signposted to happen some time in October:<\/span><\/p>\n<ul>\n<li><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><\/li>\n<li><span style=\"font-weight:400;\">Egyptian-Jordanian Business Council, Amman, Jordan<\/span><\/li>\n<li><span style=\"font-weight:400;\">Gov\u2019t expects to finalize sale of Gabal El Zeit wind plant<\/span><\/li>\n<li><span>October or November: Gov\u2019t expects to finalize <\/span><span style=\"\">stake sale<\/span><span style=\"font-weight:400;\"> for military-owned fuel retailer Wataniya<\/span><\/li>\n<\/ul>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:700;\">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 style=\"font-weight:400;\">22 November (Wednesday): Deadline to apply to FRA for credit rating license.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span>23 November (Thursday): <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/www.worldviewevents.com\/signup\" style=\"\">Worldview Education Fair<\/a><\/span><span>, Cairo. (<\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/www.worldviewevents.com\/signup\" style=\"\">Register here<\/a><\/span><span style=\"font-weight:400;\">)<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:400;\">30 November-12 December (Thursday-Tuesday): COP28, Dubai.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:700;\">DECEMBER <\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span>10-11 December (Sunday-Monday): <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/www.eglobexpo.com\/\" style=\"\">eGlobe Expo<\/a><\/span><span>, St. Regis Almasa Hotel, Cairo.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:400;\">12-13 December (Tuesday-Wednesday): Federal Reserve interest rate meeting.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span>12-14 December (Tuesday-Thursday): <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/foodafrica-expo.com\/\" style=\"\">Food Africa Expo<\/a><\/span><span style=\"font-weight:400;\">, Egypt International Exhibition Center.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:400;\">21 December (Thursday): Central Bank of Egypt\u2019s Monetary Policy Committee meeting.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:700;\">Signposted to happen sometime in December:<\/span><\/p>\n<ul>\n<li><span>Gov\u2019t expects to finalize sale of a <\/span><span style=\"\">stake in<\/span><span style=\"font-weight:400;\"> military-owned bottled drinks company Safi<\/span><\/li>\n<li><span>Gov\u2019t expects to finalize sale of Zafarana wind farm<\/span><\/li>\n<\/ul>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:700\">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;\">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;\">4Q 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;\">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 start operations.<\/span><\/p>\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n","protected":false},"excerpt":{"rendered":"<p>Inflation slowdown in the cards? | Mortgage-backed securities | Beltone\u2019s VC arms invests in Ariika<\/p>\n","protected":false},"featured_media":605997,"menu_order":0,"template":"","categories":[],"tags":[],"class_list":["post-605996","issue","type-issue","status-publish","has-post-thumbnail","hentry","wpautop","entry"],"acf":{"mongo_id":"ae34e176-7e90-4f25-98d9-681ae64852c7","teaser":"Inflation slowdown in the cards? | Mortgage-backed securities | Beltone\u2019s VC arms invests in Ariika","photo_url":"https:\/\/ent.news\/2023\/9\/689.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>AIIB is meeting in Sharm this month. 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