{"id":606237,"date":"2023-09-13T00:00:00","date_gmt":"2023-09-13T00:00:00","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/?post_type=issue&#038;p=606237"},"modified":"2025-12-17T00:36:09","modified_gmt":"2025-12-17T00:36:09","slug":"from-te-and-vodafone-to-gabal-el-zeit-we-have-lots-of-privatization-news","status":"publish","type":"issue","link":"https:\/\/enterpriseam.com\/egypt\/issues\/from-te-and-vodafone-to-gabal-el-zeit-we-have-lots-of-privatization-news\/","title":{"rendered":"From TE and Vodafone to Gabal El Zeit, we have lots of privatization news"},"content":{"rendered":"<section id=\"606239\" 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=\"606239\">\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\/13\/were-two-weeks-away-from-our-next-long-weekend\/\">\r\n                            We\u2019re two weeks away from our next long weekend                        <\/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\/13\/were-two-weeks-away-from-our-next-long-weekend\/\" target=\"_blank\">\n                    Open 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data-permalink=\"https:\/\/enterpriseam.com\/egypt\/2023\/09\/13\/were-two-weeks-away-from-our-next-long-weekend\/902-jpg-4\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2023\/9\/902.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"902.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2023\/9\/902.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2023\/9\/902.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-606239\" class=\"content-area-description single-story post-606239 post type-post status-publish format-standard has-post-thumbnail hentry category-what-were-tracking-today tag-enterpriseam 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\/.ad9093dd-4e20-4bfe-8452-c30698fbf3fb.mp3\"><\/audio><\/figure><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong> Good morning, friends. <\/strong>We\u2019re just days away from hosting many of you at our first-ever two-day event. We\u2019ll be going deep into what\u2019s next in banking, financial services, fintech and more at our Enterprise Finance Forum next Monday and Tuesday. <\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong> THE BIG STORY THIS MORNING will feature on our agenda next week. <\/strong>It\u2019s all about privatization today, with updates on three big sales (two telecoms operators and a green energy facility) plus news that the military\u2019s NSPO is buying into a private-sector steel producer. <\/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> PSA #1- We\u2019re two weeks away from our next long weekend: <\/strong> \u200b\u200b\u200b\u200bThe Prophet Muhammad\u2019s birthday falls on Wednesday, 27 September, and the public- and private-sectors are getting a three-day weekend starting from Thursday, September 28, cabinet <a target=\"_blank\" href=\"https:\/\/bit.ly\/48e3xC7\" style=\"\" rel=\"noopener\">said<\/a> yesterday.<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><a id=\"wwtt2\"><\/a> <strong> PSA #2 <\/strong><strong> - <\/strong><strong> It\u2019s deadline day for Egyptians living abroad to settle <\/strong><strong> unfulfilled military service obligations by paying a fee 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><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=\"wwtt1\"><\/a> <strong> WE HAVE JUST FIVE DAYS TO GO until we see some of you at the Enterprise Finance Forum, <\/strong><strong> which <\/strong><strong> takes 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> What to expect: <\/strong> Join <strong> Todd Wilcox <\/strong> (CEO and deputy chair, HSBC Egypt)<strong> , Akef El Maghraby <\/strong>(vice chairman, Banque Misr),<strong> Tarek El Nahas <\/strong> (group head of international banking, Mashreq),<strong> Hazem Hegazy <\/strong>(CEO and vice chairman, Al Baraka Bank), <strong> Fadi Abi-Nader <\/strong> (VP \u2014 One Demand, Global Emerging Markets, Mars-Wrigley), <strong> Bahaa Alieldean <\/strong> (senior and managing partner, ALC Alieldean Weshahi &amp; Partners) and many others for talks on everything from what\u2019s driving transformation in the banking and finance sector to how a can bank can transact in uncertain times. <\/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\/index.html#agenda\" style=\"\" rel=\"noopener\">Tap or click here to view the FULL AGENDA with SPEAKERS.<\/a><\/strong><strong><a target=\"_blank\" href=\"https:\/\/finance.enterprise.news\/\" style=\"\" rel=\"noopener\"><\/a><\/strong><\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong> There will be plenty of parking available at the venue <\/strong> for all those attending. <\/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><\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><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, Banque du Caire, CI Capital, Global Corp, Visa, Hassan Allam Utilities, the IFC, and Post for Investment. <\/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\/880.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\"><a id=\"wwtt5\"><\/a> <strong> POLICY WATCH- A new tool to drum up climate finance: <\/strong>The government is launching a digital platform for environmental and climate investment, Prime Minister Mostafa Madbouly said at the launch of his government\u2019s <a target=\"_blank\" href=\"https:\/\/www.sis.gov.eg\/Story\/185717?lang=en-us\" style=\"\" rel=\"noopener\">environment and climate investment forum<\/a> at the new capital yesterday, according to a <a target=\"_blank\" href=\"https:\/\/bit.ly\/3Pii1sd\" style=\"\" rel=\"noopener\">cabinet statement<\/a>. Madbouly did not specify when the platform would go live. <\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong> About the platform: <\/strong>The platform will connect investors with green projects, linking entrepreneurs and developers with financiers, investors, and supporting institutions in a bid to boost investment in our green economy. It will feature projects in sectors including waste management, sustainable energy, environmental tourism, biodiversity, agriculture, and food production. The platform will also allow for a direct channel of communication between the Environment Ministry and investors.<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong> Climate investment forum? <\/strong>The Environment Ministry yesterday held the first edition of its <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/21ad0383-4345-4a2f-8f06-ca2c3a7c7c6d\" style=\"\" rel=\"noopener\">climate investment forum<\/a> in partnership with the UN Industrial Development Organization (UNIDO), with funding from the Swiss Agency for Development and Cooperation, after pushing the event back from June. It was set up to encourage private sector involvement in the green economy and is expected to become an annual event. <\/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\"><strong> The <\/strong><strong><a target=\"_blank\" href=\"https:\/\/www.hydrogenegypt.com\/\" style=\"\" rel=\"noopener\">Hydrogen Egypt Summit<\/a><\/strong> opens its doors at the Nile Ritz Carlton today. Attendees will discuss Egypt\u2019s potential to become a regional green hydrogen hub. The event runs through to Thursday.<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong> HAPPENING THIS WEEK- <\/strong><\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><a id=\"wwtt4\"><\/a> <strong> US to make decision on Egypt military aid: <\/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 tomorrow. <\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong> New capital requirements for FX bureaus in play: <\/strong>Friday is deadline day for FX bureaus to comply with the central bank\u2019s strict <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/5b6f9aa4-8ee9-4804-bc43-8e40fac6213c\" style=\"\" rel=\"noopener\">new capital requirements<\/a>. Under new rules aimed at curbing the resurgent parallel market, the central bank is raising the capital requirement for exchanges to EGP 25 mn from just EGP 5 mn currently.<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong> The National Dialogue: <\/strong> The National Dialogue is holding a new round of closed-door meetings this week to draft a new batch of recommendations. The group sent its <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/c1df1c4a-b573-4fb1-881d-1fe4843f7657\" style=\"\" rel=\"noopener\">first batch of recommendations<\/a> to the president for approval last month.<\/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\/898.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> Storm Daniel in Libya left more than 5k dead, 10k missing: <\/strong>More than 5k people have died and at least 10k are missing after Storm Daniel unleashed massive flooding across Libya this week. The eastern coastal city of Derna was especially hard hit, with officials estimating that a quarter of the city was completely wiped out after the storm caused dams above the town to burst and sweep away tens of buildings. At least <a target=\"_blank\" href=\"https:\/\/english.ahram.org.eg\/NewsContent\/1\/1234\/508243\/Egypt\/Foreign-Affairs\/Libya-hands-over--Egyptian-bodies-to-Egypt-after-S.aspx\" style=\"\" rel=\"noopener\">145 Egyptians<\/a> have died in the floods.<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong> Mourning in Egypt + sending relief to Libya: <\/strong>President Abdel Fattah El Sisi yesterday <a target=\"_blank\" href=\"https:\/\/bit.ly\/3ZgCj9L\" style=\"\" rel=\"noopener\">declared<\/a> three days of national mourning in solidarity with the victims of the floods in Libya and the earthquake in Morocco. Three military planes carrying humanitarian aid <a target=\"_blank\" href=\"https:\/\/bit.ly\/3Zihlaw\" style=\"\" rel=\"noopener\">landed<\/a> <a target=\"_blank\" href=\"https:\/\/bit.ly\/3Zihlaw\" style=\"\" rel=\"noopener\">in Libya<\/a> yesterday.<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong> The story is getting coverage on the global front pages this morning: <\/strong><a target=\"_blank\" href=\"https:\/\/apnews.com\/article\/derna-libya-floods-storm-daniel-95379b164871d97fb74b1cd1bcb5640c\" style=\"\" rel=\"noopener\">Associated Press<\/a> | <a target=\"_blank\" href=\"https:\/\/www.reuters.com\/world\/africa\/more-than-1000-bodies-recovered-libyan-city-after-floods-minister-2023-09-12\/\" style=\"\" rel=\"noopener\">Reuters<\/a> | <a target=\"_blank\" href=\"https:\/\/www.ft.com\/content\/11ffc460-ea1f-48be-bd5a-ed215491fee2\" style=\"\" rel=\"noopener\">Financial Times<\/a> | <a target=\"_blank\" href=\"https:\/\/www.wsj.com\/world\/africa\/libya-storm-derna-flooding-thousands-dead-43a908a6\" style=\"\" rel=\"noopener\">Wall Street Journal<\/a>.<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong> THE DL ON APPLE\u2019S NEW GADGETS- <\/strong><\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"> <strong> Apple has unveiled its latest lineup of iPhones<\/strong>, including the iPhone 15, 15 Plus, 15 Pro and 15 Pro Max. The devices will be available in most countries starting Friday, 22 September, and will ship with <a target=\"_blank\" href=\"https:\/\/www.apple.com\/ios\/ios-17\/\" style=\"\" rel=\"noopener\">iOS 17<\/a>. The electronics giant also unveiled updated Watch Series 9 and Watch Ultra models. Watch the event here (<a target=\"_blank\" href=\"https:\/\/www.youtube.com\/watch?v=ZiP1l7jlIIA\" style=\"\" rel=\"noopener\">runtime: 1:25:35<\/a>).<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong> Choose your tiers: <\/strong>The <a target=\"_blank\" href=\"https:\/\/www.apple.com\/iphone-15\/\" style=\"\" rel=\"noopener\">iPhone 15 and iPhone 15 Plus<\/a> start at the same prices as last year in most countries, but Apple bumped up the cost to consumers of <a target=\"_blank\" href=\"https:\/\/www.apple.com\/iphone-15-pro\/\" style=\"\" rel=\"noopener\">the 15 Pro and 15 Pro Max<\/a>, both of which feature titanium builds, faster USB-C ports than on the base models, and improved cameras. The Pro models also get Apple\u2019s latest A17 Bionic chip, while the base models receive last year\u2019s A16.<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong> SIGN OF THE TIMES- Apple beat the drum hard on its environmental credentials<\/strong>, including a skit in which an actress playing a <a target=\"_blank\" href=\"https:\/\/www.apple.com\/environment\/mother-nature\/\" style=\"\" rel=\"noopener\">deeply skeptical mother nature<\/a>(Oscar winner <a target=\"_blank\" href=\"https:\/\/www.businessinsider.com\/3-negotiating-tips-from-octavia-spencer-always-get-a-raise-2023-1\" style=\"\" rel=\"noopener\">Octavia Spencer<\/a>) held an annual review with Apple CEO Tim Cook and the <a target=\"_blank\" href=\"https:\/\/www.apple.com\/eg\/leadership\/lisa-jackson\/\" style=\"\" rel=\"noopener\">company\u2019s head of sustainability<\/a>. <strong> Apple\u2019s Watch Series 9 and Watch Ultra are its first carbon neutral products<\/strong>, and it has pledged to make everything it sells carbon neutral by 2030.<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong> Get ready to update your phone\u2019s OS soon: <\/strong>Many older devices will get iOS 17 as an update without charge starting next Monday, 18 September.<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong> The story is getting plenty of international coverage: <\/strong><a target=\"_blank\" href=\"https:\/\/apnews.com\/article\/apple-iphone-cupertino-15-pro-max-4ce309e39cabc302912bcf189605483e\" style=\"\" rel=\"noopener\">Associated Press<\/a> | <a target=\"_blank\" href=\"https:\/\/www.reuters.com\/technology\/apples-iphone-15-launch-clouded-by-china-problems-2023-09-12\/\" style=\"\" rel=\"noopener\">Reuters<\/a> | <a target=\"_blank\" href=\"https:\/\/www.bloomberg.com\/news\/articles\/2023-09-12\/apple-unveils-new-iphone-with-usb-c-camera-improvements?srnd=premium-middle-east#xj4y7vzkg\" style=\"\" rel=\"noopener\">Bloomberg<\/a> | <a target=\"_blank\" href=\"https:\/\/www.ft.com\/content\/e7504053-2108-40d8-a898-3cda891140ac#post-c0039cba-7d44-45e8-a08c-58eb4094a8d1\" style=\"\" rel=\"noopener\">Financial Times<\/a> | <a target=\"_blank\" href=\"https:\/\/www.wsj.com\/livecoverage\/apple-iphone-event-2023?mod=hp_lead_pos2\" style=\"\" rel=\"noopener\">Wall Street Journal<\/a>.<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong> Techtember continues: <\/strong><strong><a target=\"_blank\" href=\"https:\/\/www.theverge.com\/2023\/9\/12\/23868832\/fujifilm-fuji-gfx100ii-medium-format-mirrorless-camera-8k-reala-price-specs\" style=\"\" rel=\"noopener\">Fujifilm<\/a><\/strong> released a new medium format digital camera yesterday, <strong><a target=\"_blank\" href=\"https:\/\/www.theverge.com\/2023\/8\/17\/23835992\/microsoft-surface-special-event-new-york-city-september-21st\" style=\"\" rel=\"noopener\">Microsoft<\/a><\/strong> has an event next week, and Google to take the wraps off its next <strong><a target=\"_blank\" href=\"https:\/\/www.theverge.com\/2023\/9\/7\/23863192\/google-pixel-8-pro-watch-2\" style=\"\" rel=\"noopener\">Pixel<\/a><\/strong> handset on 4 October.<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong> ENERGY WATCH- <\/strong><\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><a id=\"wwtt3\"><\/a> <strong> Egypt, Algeria and Libya will be key to Italy\u2019s energy supply in the coming years<\/strong>, Eni\u2019s natural resources chief tells <a target=\"_blank\" href=\"https:\/\/www.reuters.com\/business\/energy\/north-africa-will-be-italys-key-gas-supplier-years-eni-top-exec-says-2023-09-12\/\" style=\"\" rel=\"noopener\">Reuters<\/a>. Eni is looking to replace Russian gas by increasing its imports from Africa, which is leading the company to double down on efforts to increase supplies from North Africa. Algeria has become Italy\u2019s largest supplier of gas since Russia severed flows last year.<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong> Remember: <\/strong> In a meeting with El Sisi this month, Eni\u2019s CEO said that the company and its partners will <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/8f843071-dfad-4c1a-b639-6a083b287bcd\" style=\"\" rel=\"noopener\">invest USD 7.7 bn<\/a> in Egypt over the next four years.<\/p><div class=\"row\">\n<div class=\"col-md-12 subscribe-box-panel\">\n<div class=\"\">\n<div class=\"title\">\n<h4 class=\"fw-lighter mb-10\">\n   Get <b style=\"font-weight: 700\">Enterprise<\/b> daily<br>\n  <\/h4>\n<\/div>\n<p class=\"mb-10\">The roundup of news and trends that move your markets and shape corporate agendas delivered straight to your inbox.<\/p>\n<p>  <a target=\"_blank\" href=\"egypt\/en\/user\/NewsLetters\" type=\"button \" class=\"btn-green px-3 d-flex align-items-center\" rel=\"noopener\">Subscribe here<\/a>\n <\/p><\/div>\n<\/div>\n<\/div><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong> MARKET WATCH- <\/strong><\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"> <strong> Oil markets are bracing for a supply crunch: <\/strong>Global oil markets could face the largest supply shortfall in a decade in 4Q 2023 after Saudi Arabia and Russia <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/bdc1ade2-347e-4f6e-b56f-fd65a2f93b75\" style=\"\" rel=\"noopener\">extended production cuts<\/a> until the end of the year. OPEC data cited by <a target=\"_blank\" href=\"https:\/\/www.bloomberg.com\/news\/articles\/2023-09-12\/opec-oil-data-show-3-million-barrel-supply-shortfall-as-saudis-extend-cuts?srnd=premium-middle-east\" style=\"\" rel=\"noopener\">Bloomberg<\/a> suggests that markets will face a deficit of 3.3 mn barrels a day next quarter as supply tightens.<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong> The market reacts: <\/strong> Oil prices hit fresh 10-month highs yesterday following the data release, with Brent futures jumping 1.6% to more than USD 92 a barrel and US crude up 1.8%.<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong> Watch this: <\/strong> A fresh supply shock in the energy markets will complicate the Federal Reserve\u2019s efforts to bring down inflation and trigger fresh uncertainty about where interest rates are headed in the coming weeks and months. US inflation figures for August are out today.<\/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> 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 trash <\/strong><strong> clean-up <\/strong> in Cairo\u2019s Wadi Degla between 9-11 am <strong> this coming Friday<\/strong>, 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><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><img data-recalc-dims=\"1\" decoding=\"async\" src=\"https:\/\/i0.wp.com\/enterprise.press\/wp-content\/uploads\/2020\/01\/Web-view-01.jpg\"><\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong> *** It\u2019s Hardhat day \u2014 your weekly briefing of all things infrastructure in Egypt: <\/strong> Enterprise\u2019s industry vertical focuses each Wednesday on infrastructure, covering everything from energy, water, transportation, and urban development, as well as social infrastructure such as health and education. <\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong> In today\u2019s issue: <\/strong>The government is pushing back the tender for as many as four desalination plants on the north coast to December 2023.<\/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\/what-were-tracking-today\/\">What We&#039;re Tracking Today<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                    <\/div>\n    <\/div>\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"606241 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=\"606241\">\r\n            \r\n            <div class=\"story__body\">\r\n\r\n                <a href=\"https:\/\/enterpriseam.com\/egypt\/2023\/09\/13\/606241\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-606241\" class=\"content-area-description single-story post-606241 post type-post status-publish format-standard hentry category-advertiser wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<p><span style=\"font-weight:400;\"><a href=\"https:\/\/somabay.com\/\" target=\"_blank\" rel=\"noopener\"><img data-recalc-dims=\"1\" decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2023\/9\/905.jpg?ssl=1\"><\/a><\/span><\/p><div class=\"grouped-tags\">\n<p><span style=\"\">Get ready to embark on a sensational journey of entertainment: From October through December, London will be illuminated by the brilliance of three remarkable events sponsored exclusively by Somabay. The<\/span><span style=\"\"> laughter will be unstoppable at the uproarious <\/span><span style=\"font-weight:400;\">Egyptian Trilogy comedy tour, followed by the enchanting Samar Tarik. Brace yourselves for a captivating finale with the mesmerizing Farah El Dibany. Somabay brings you an unforgettable trifecta of events that will leave you utterly captivated and eagerly anticipating each spectacular moment.<\/span><\/p>\n<\/div>\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"606242\" 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=\"606242\">\r\n            \r\n                <div class=\"issue-story-header text-center\">\r\n                    <div class=\"index-number\">2<\/div>\r\n\r\n                    <p class=\"f-graphik\">Privatization<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2023\/09\/13\/big-updates-on-potential-sales-of-telecom-egypt-vodafone-egypt-stakes-gabal-el-zeit-windfarms\/\">\r\n                            Tons of privatization news as state mulls sale of Telecom Egypt + Vodafone Egypt stakes and lines up investor interest in Gabal El Zeit wind farm                        <\/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\/13\/big-updates-on-potential-sales-of-telecom-egypt-vodafone-egypt-stakes-gabal-el-zeit-windfarms\/\" target=\"_blank\">\n                    Open in new tab                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/new-tab.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a href=\"#\" target=\"_blank\" onclick=\"event.preventDefault(); 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The latest news sees potential sales of stakes in two high-profile telecoms players as well as a renewable energy facility. The expectation is that all three sales will be paid for with inflows of foreign exchange. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong> #1- Gov\u2019t to sell down a further stake in Telecom Egypt? <\/strong> The Madbouly government is considering divesting another 10% of Telecom Egypt (TE) to investors, a government source told Enterprise. The sale is expected to happen before the end of the year, the source said. The official was speaking after <a target=\"_blank\" href=\"https:\/\/www.alborsaanews.com\/2023\/09\/11\/1711618\" style=\"\" rel=\"noopener\">Al<\/a> <a target=\"_blank\" href=\"https:\/\/www.alborsaanews.com\/2023\/09\/11\/1711618\" style=\"\" rel=\"noopener\">Borsa<\/a> reported that the Finance Ministry is considering selling an additional 10-15% stake in the firm. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong> Remember: <\/strong>The government <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/053a8175-6db9-4185-ab3d-520dc017ac28\" style=\"\" rel=\"noopener\">sold<\/a> a 10% stake in the company via the EGX in May, reducing its stake to 70%. The remaining shares in TE are in free float. The sale was the first to take place since the government rebooted its privatization program in February, outlining plans to sell stakes in 32 state-owned companies. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong> We had a hint this was coming: <\/strong>Telecom Egypt was among three companies added to the privatization program <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/e8a0da43-f922-4a49-b3a9-839f397f8ce4\" style=\"\" rel=\"noopener\">last month<\/a>, following the initial 10% stake sale. The government is now aiming to draw USD 5 bn in investment through the privatization of state-owned companies and assets in the nine months between October 2023 and June 2024. You can check out the <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/da256c92-b54a-4e9c-b8c7-587c55ba533a\" style=\"\" rel=\"noopener\">official update on the privatization program here<\/a>.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong><a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/1e4c4fcd-97f0-4e30-b9c3-d7ca9c0a66d6\" style=\"\" rel=\"noopener\">More than 90%<\/a><\/strong><strong> of the 10% stake were <\/strong><strong> bought by local investors paying in EGP. <\/strong> This meant the sale generated less than USD 11 mn in hard-currency proceeds.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong> Remember: <\/strong> As part of its USD 3 bn assistance program with the IMF, Egypt earlier this year rebooted its long-stalled privatization program in a bid to attract FX inflows and shore up its external position. The government is now looking to <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/e8a0da43-f922-4a49-b3a9-839f397f8ce4&title=Egypt%20aims%20to%20raise%20USD%205%20bn%20from%20privatization%20by%20June%202024\/story?storyId=e8a0da43-f922-4a49-b3a9-839f397f8ce4\" style=\"\" rel=\"noopener\">raise USD 5 bn<\/a> by next June when the current fiscal year ends by selling stakes in 35 companies. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong> QATAR-VODAFONE EGYPT TALKS ARE ONGOING- <\/strong><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"> <strong> #2- <\/strong><strong> QIA close to snapping up TE\u2019s stake in Vodafone Egypt? <\/strong>The Qatar Investment Authority (QIA) could wrap up by the end of September talks to acquire a portion of Telecom Egypt\u2019s 45% stake in Vodafone Egypt, according toAl Borsa. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong> Hold your horses: <\/strong>A source in the telecom sector we talked to yesterday declined to put a timeline on the transaction.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong> Stake size remains the sticking point: <\/strong>TE isn\u2019t willing to part with more than 30% of its stake in Vodafone Egypt, our source said. The two sides have reportedly been going back and forth for <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/c348db4f-7247-4ed9-a87a-4020be90920e\" style=\"\" rel=\"noopener\">at least a year<\/a> on the size of the sale, with QIA seeking a larger stake. The remaining 55% stake in Vodafone Egypt is held by South Africa\u2019s Vodacom. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong> Are other suitors out of the picture? <\/strong><a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/d56eb196-6fa3-476f-943c-4cdee8b88ebe\" style=\"\" rel=\"noopener\">Last we heard<\/a>, Saudi wealth fund PIF was said to be competing with QIA for a stake in Vodafone Egypt.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong> GABAL EL ZEIT UPDATE- <\/strong><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"> <strong> Five investors interested in wind farm: <\/strong> The government has received five offers from investors interested in acquiring the 580-MW Gabal El Zeit wind farm, Planning Minister Hala El Said told <a target=\"_blank\" href=\"https:\/\/twitter.com\/AsharqbEGY\/status\/1701545123606036941?s=20\" style=\"\" rel=\"noopener\">Bloomberg<\/a> yesterday, without disclosing the names of the would-be investors.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong> An ultimatum? <\/strong> The government has given an \u201cinternational investor\u201d two months to take a decision on whether to go ahead with the purchase, the minister said, again, without naming names.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong> That international investor is most likely Actis: <\/strong>We have it on good authority that the emerging markets-focused private-equity outfit Actis <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/4c85167d-b810-4227-af8a-6b615716e368\" style=\"\" rel=\"noopener\">has made an initial offer<\/a> for the wind farm and is the government\u2019s preferred bidder. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong> A potential sticking point? <\/strong> The government wants the buyer to up its bid to USD 600-800 mn from USD 400 mn, a source the New Renewable Energy Authority <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/e0e2617c-d035-4deb-9049-f888ad35500d\" style=\"\" rel=\"noopener\">told us<\/a> last month.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong> Deal when? <\/strong> El Said told the news outlet that she expects the sale to be wrapped up by October or November. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong> ALSO KEEP YOUR EYE ON: <\/strong>The <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/9326a491-9645-49df-b489-e36f40100021\" style=\"\" rel=\"noopener\">ongoing sales of stakes in military-owned companies<\/a> including filling station manager Wataniya and bottled water maker Safi.<\/p>\n\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/actis\/\">Actis<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/cit\/\">CIT<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/egypt-qatar-relations\/\">Egypt-Qatar relations<\/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          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class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/vodafone-egypt\/\">Vodafone Egypt<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                    <\/div>\n    <\/div>\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"606244\" 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=\"606244\">\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\">M&amp;A WATCH<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2023\/09\/13\/military-acquires-minority-stakes-in-private-sector-steel-companies\/\">\r\n                            Egyptian military acquires minority stakes in private-sector steel companies                        <\/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\/13\/military-acquires-minority-stakes-in-private-sector-steel-companies\/\" target=\"_blank\">\n                    Open in new tab                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/new-tab.svg\" alt=\"\"> 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wp-post-image\" alt=\"\" data-attachment-id=\"606245\" data-permalink=\"https:\/\/enterpriseam.com\/egypt\/2023\/09\/13\/military-acquires-minority-stakes-in-private-sector-steel-companies\/866-jpg-2\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2023\/9\/866.JPG?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"866.JPG\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2023\/9\/866.JPG?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2023\/9\/866.JPG?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-606244\" class=\"content-area-description single-story post-606244 post type-post status-publish format-standard has-post-thumbnail hentry category-ma-watch tag-beshay-steel tag-commodities tag-domty tag-enterpriseam tag-industry tag-ma-watch tag-military tag-national-service-projects-organization 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\/.a3c307be-280c-4cb3-8b39-b0774836f66c.mp3\"><\/audio><\/figure>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"> <strong> Beshay Steel sells minority stake to NSPO: <\/strong>Military-owned conglomerate the National Service Projects Organization (NSPO) has acquired minority stakes in three private-sector steel companies owned by <a target=\"_blank\" href=\"https:\/\/www.beshaysteel.com\/\" style=\"\" rel=\"noopener\">Beshay Steel Group<\/a>, according to a report from <a target=\"_blank\" href=\"https:\/\/www.asharqbusiness.com\/article\/54362\/%D8%AC%D9%87%D8%A7%D8%B2-%D8%A7%D9%84%D8%AE%D8%AF%D9%85%D8%A9-%D8%A7%D9%84%D9%88%D8%B7%D9%86%D9%8A%D8%A9-%D8%A8%D9%85%D8%B5%D8%B1-%D9%8A%D8%B3%D8%AA%D8%AD%D9%88%D8%B0-%D8%B9%D9%84%D9%89-24-%D9%85%D9%86-3-%D8%B4%D8%B1%D9%83%D8%A7%D8%AA-%D9%84%D9%84%D8%B5%D9%84%D8%A8\/\" style=\"\" rel=\"noopener\">Asharq Business<\/a> yesterday citing two sources it said are familiar with the matter.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong> The details: <\/strong>Beshay Steel sold up to 24% stakes in each of the three companies to the NSPO for around EGP 10 bn, according to Asharq. The transaction took place in the over-the-counter market on the EGX.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong> Beshay Steel is one of the region\u2019s largest private-sector steel producers<\/strong>, churning out some some 4 mn tons of product a year, according to <a target=\"_blank\" href=\"https:\/\/www.beshaysteel.com\/\" style=\"\" rel=\"noopener\">its website<\/a>.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong> What the NSPO bought: <\/strong> The companies \u2014 Egyptian Sponge Iron and Steel Company, Egyptian American Steel Rolling Company, and International Steel Rolling Mills Company \u2014 account for the bulk of Beshay\u2019s production. Egyptian Sponge is the company\u2019s largest subsidiary, producing around 2 mn tons of steel per year. Meanwhile, Egyptian American has an annual capacity of 1.2 mn tons and International Steel produces 700k tons.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong> Who owns what <\/strong><strong> : <\/strong> The companies were previously wholly owned by Beshay Steel, which is 100% owned by the Beshay family, according to the company\u2019s <a target=\"_blank\" href=\"https:\/\/www.linkedin.com\/company\/beshay-steel\/\" style=\"\" rel=\"noopener\">LinkedIn<\/a> page.Representatives of Beshay were not immediately available for comment. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong> Background: These are tough times for steelmakers. <\/strong> The ongoing economic crisis is causing losses to mount among steel producers, who are facing soaring production costs, slowing demand and raw material shortages.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong> The military has increased its presence in the steel industry in recent years<\/strong>, acquiring <a target=\"_blank\" href=\"https:\/\/bit.ly\/3LmFO8X\" style=\"\" rel=\"noopener\">Suez Steel<\/a> in 2016 and <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/0df22ae8-8d39-4dc7-8f13-7e600ab7f798\" style=\"\" rel=\"noopener\">Egyptian Steel<\/a> in 2018. The two companies\u2019 combined capacity is around 3.7 mn tons a year.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong> Remember: The NSPO has been staking its claim in the energy sector. <\/strong> The company is expected to sell its Wataniya fuel retailing business as part of the government\u2019s privatization program, but in July acquired a <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/08d5f7ed-6d80-4f83-a036-5d906b919741\" style=\"\" rel=\"noopener\">20% stake<\/a> in fuel retailer Taqa Arabia, which a few weeks later <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/9326a491-9645-49df-b489-e36f40100021\" style=\"\" rel=\"noopener\">submitted a non-binding offer<\/a> to acquire an unspecified stake in Wataniya.<\/p>\n\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/beshay-steel\/\">Beshay Steel<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/commodities\/\">commodities<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/domty\/\">Domty<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/industry\/\">industry<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/ma-watch\/\">M&amp;A Watch<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/military\/\">military<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/national-service-projects-organization\/\">National Service Projects Organization<\/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=\"606246\" 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=\"606246\">\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\">Moves<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2023\/09\/13\/jumia-egypt-appoints-abdellatif-olama-as-ceo\/\">\r\n                            Jumia Egypt appoints Abdellatif Olama as CEO                        <\/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\/13\/jumia-egypt-appoints-abdellatif-olama-as-ceo\/\" target=\"_blank\">\n                    Open in new tab                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/new-tab.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a href=\"#\" target=\"_blank\" onclick=\"event.preventDefault(); 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Olama enters the role after a year in executive roles at JumiaPay Egypt and previously served as chief growth officer at digital healthcare startup Altibbi as well as as CEO of digital marketing platform Aprcot. Olama is also a founder and chairman of thinktank <a target=\"_blank\" href=\"https:\/\/www.t20egypt.com\/\" style=\"\" rel=\"noopener\">T20 Egypt<\/a>. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\">Olama moves up as former Jumia Egypt CEO<strong> Hisham El Gabry <\/strong>(<a target=\"_blank\" href=\"https:\/\/www.linkedin.com\/in\/hishamelgabry\/\" style=\"\" rel=\"noopener\">LinkedIn<\/a>) becomes<strong> chief commercial <\/strong><strong> officer <\/strong>for <strong> Jumia Group<\/strong>, El Gabry wrote on <a target=\"_blank\" href=\"https:\/\/www.linkedin.com\/feed\/update\/urn:li:activity:7107293445077004289\/\" style=\"\" rel=\"noopener\">LinkedIn<\/a>. <\/p>\n\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/abdellatif-olama\/\">Abdellatif Olama<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/e-commerce\/\">e-commerce<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/jumia\/\">Jumia<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/moves\/\">moves<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                    <\/div>\n    <\/div>\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"606248 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=\"606248\">\r\n            \r\n            <div class=\"story__body\">\r\n\r\n                <a href=\"https:\/\/enterpriseam.com\/egypt\/2023\/09\/13\/606248\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-606248\" class=\"content-area-description single-story post-606248 post type-post status-publish format-standard hentry category-advertiser wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<p><span style=\"font-weight:400;\"><a href=\"https:\/\/imagine.sodic.com\" target=\"_blank\" rel=\"noopener\"><img data-recalc-dims=\"1\" decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2023\/7\/927.jpg?ssl=1\"><\/a><\/span><\/p>\n\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"606249\" 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=\"606249\">\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\">LAST NIGHT\u2019S TALK SHOWS<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2023\/09\/13\/talking-heads-focus-on-libya-floods-climate-investment-forum\/\">\r\n                            Libya floods + climate investment forum earn 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\/13\/talking-heads-focus-on-libya-floods-climate-investment-forum\/\" target=\"_blank\">\n                    Open in new tab                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/new-tab.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a href=\"#\" target=\"_blank\" onclick=\"event.preventDefault(); 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The pundits also covered President El Sisi\u2019s directive to the Armed forces to provide humanitarian aid to the country.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong> The opening day of the Climate and Environment Investment Forum earned airtime <\/strong> on Al Hayah Al Youm (<a target=\"_blank\" href=\"https:\/\/www.youtube.com\/watch?v=79CQb95L0ww\" style=\"\" rel=\"noopener\">watch, runtime: 2:44<\/a>) and Masaa DMC (<a target=\"_blank\" href=\"https:\/\/www.youtube.com\/watch?v=1cAvjZVbB8c\" style=\"\" rel=\"noopener\">watch, runtime: 3:04<\/a>). The forum aims to boost private-sector partnerships and attract green investments.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong> Also on the airwaves last night: <\/strong><\/p>\n<ul>\n<li><strong> Niqab school ban: <\/strong> Ala Masouleety\u2019s Ahmed Moussa voiced frustration that he faced backlash on social media for praising the Education Ministry\u2019s decision to ban the niqab in schools, arguing that wearing the niqab is not an Islamic duty (<a target=\"_blank\" href=\"https:\/\/www.youtube.com\/watch?v=JW_iga9pSJc\" style=\"\" rel=\"noopener\">watch, runtime: 3:14<\/a>).<\/li>\n<li><strong> GERD: <\/strong> \u201cEthiopia\u2019s GERD is a real catastrophe, and a real ruin for Egypt\u201d, political commentator Mostafa El Feky told Yahduth Fi Masr (<a target=\"_blank\" href=\"https:\/\/www.youtube.com\/watch?v=hvNg1VaM8QU\" style=\"\" rel=\"noopener\">watch, runtime: 3:18<\/a>). Ethiopia <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/f60a07c8-be6e-48c5-a4dd-0be64031717e\" style=\"\" rel=\"noopener\">announced<\/a> this week it had finished the final phase of filling the reservoir of the USD 4 bn hydroelectric dam.<\/li>\n<\/ul>\n\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/climate\/\">Climate<\/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\/natural-disasters\/\">natural disasters<\/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=\"606251\" class=\"issue-section \">\n<div class=\"issue-section__content\">\n<div class=\"stories\">      \r\n<section id=\"advertiser\" class=\"enterprise-adv issue-section\">\r\n    <div class=\"issue-section__content\" style=\"flex-direction: column;\">\r\n  \r\n                <h4 class=\"wp-block-heading has-text-align-center has-normal-font-size\">\r\n                <span class=\"has-primary-color stk-highlight\">This publication is proudly sponsored by<\/span><\/h4>\r\n                \r\n\r\n                \r\n                <div class=\"wp-block-stackable-carousel alignwide stk-block-carousel stk--is-slide stk--infinite-scroll stk--arrows-justify-space-between stk--arrows-align-center stk-block stk-a38cfb2 sponsor-slider-container 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class=\"issue-section__content\">\n<div class=\"stories\">            <!-- Show divider before story section -->\r\n        <div \r\n            class=\"\r\n                story-section            \"\r\n            id=\"606252\">\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\">EGYPT IN THE NEWS<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2023\/09\/13\/cigarette-price-spike-politics-the-niqab-ban-get-coverage-in-the-foreign-press\/\">\r\n                            Cigarette price spike, politics + the niqab ban get coverage in the foreign press                        <\/a>\r\n                    <\/h3>\r\n\r\n                    \r\n\t\t\t\t\t\n<div class=\"cta\">\n    <div class=\"cta__btn share-dropdown-cta dropdown-toggle-btn\" style=\"position:relative\">\n  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style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong> No single story is dominating the international headlines on Egypt this morning<\/strong>, with <a target=\"_blank\" href=\"https:\/\/www.bloomberg.com\/news\/articles\/2023-09-12\/egypt-s-soaring-cigarette-prices-cast-smokescreen-over-inflation-outlook?srnd=premium-middle-east#xj4y7vzkg\" style=\"\" rel=\"noopener\">Bloomberg<\/a> looking at cigarette prices, <a target=\"_blank\" href=\"https:\/\/www.thenationalnews.com\/mena\/egypt\/2023\/09\/12\/voice-of-egypts-opposition-grows-louder-as-presidential-election-nears\/\" style=\"\" rel=\"noopener\">the National<\/a> reporting on opposition comments on the economy, and <a target=\"_blank\" href=\"https:\/\/www.africanews.com\/2023\/09\/12\/egypt-ban-on-face-veil-in-schools-sparks-debate\/\" style=\"\" rel=\"noopener\">AFP<\/a> banging on about a new ban on niqab in schools. <\/p>\n\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/economy\/\">economy<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/inflation\/\">inflation<\/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                    <\/div>\n    <\/div>\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"606254\" 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=\"606254\">\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\">Also on our Radar<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2023\/09\/13\/egyptian-banks-could-fund-new-logistics-zones-at-east-port-said-port-plus-news-from-instapay-banque-misr-the-emx-and-the-sczone\/\">\r\n                            Egyptian banks could fund new logistics zones at East Port Said port. PLUS: News from Instapay, Banque Misr, the EMX, and the SCZone                        <\/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\/13\/egyptian-banks-could-fund-new-logistics-zones-at-east-port-said-port-plus-news-from-instapay-banque-misr-the-emx-and-the-sczone\/\" 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\/13\/egyptian-banks-could-fund-new-logistics-zones-at-east-port-said-port-plus-news-from-instapay-banque-misr-the-emx-and-the-sczone\/')\">\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\/13\/egyptian-banks-could-fund-new-logistics-zones-at-east-port-said-port-plus-news-from-instapay-banque-misr-the-emx-and-the-sczone\/\">\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=Egyptian banks could fund new logistics zones at East Port Said port. PLUS: News from Instapay, Banque Misr, the EMX, and the SCZone&url=https:\/\/enterpriseam.com\/egypt\/2023\/09\/13\/egyptian-banks-could-fund-new-logistics-zones-at-east-port-said-port-plus-news-from-instapay-banque-misr-the-emx-and-the-sczone\/\">\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\/13\/egyptian-banks-could-fund-new-logistics-zones-at-east-port-said-port-plus-news-from-instapay-banque-misr-the-emx-and-the-sczone\/&title=Egyptian banks could fund new logistics zones at East Port Said port. PLUS: News from Instapay, Banque Misr, the EMX, and the SCZone\">\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=Egyptian+banks+could+fund+new+logistics+zones+at+East+Port+Said+port.+PLUS%3A+News+from+Instapay%2C+Banque+Misr%2C+the+EMX%2C+and+the+SCZone+https%3A%2F%2Fenterpriseam.com%2Fegypt%2F2023%2F09%2F13%2Fegyptian-banks-could-fund-new-logistics-zones-at-east-port-said-port-plus-news-from-instapay-banque-misr-the-emx-and-the-sczone%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\/13\/egyptian-banks-could-fund-new-logistics-zones-at-east-port-said-port-plus-news-from-instapay-banque-misr-the-emx-and-the-sczone\/\">\r\n                    <div class=\"photo photo--above\">\r\n                        <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2023\/9\/888.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"606255\" data-permalink=\"https:\/\/enterpriseam.com\/egypt\/2023\/09\/13\/egyptian-banks-could-fund-new-logistics-zones-at-east-port-said-port-plus-news-from-instapay-banque-misr-the-emx-and-the-sczone\/888-jpg-7\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2023\/9\/888.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"888.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2023\/9\/888.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2023\/9\/888.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-606254\" class=\"content-area-description single-story post-606254 post type-post status-publish format-standard has-post-thumbnail hentry category-also-on-our-radar tag-also-on-our-radar tag-banking tag-banque-misr tag-commodities tag-egyptian-mercantile-exchange tag-enterpriseam tag-fintech tag-infrastructure tag-instapay tag-logistics tag-national-bank-of-egypt tag-ports tag-suez-canal-economic-zone 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\/.e805a7fa-90f7-4f0e-adf1-f5a18f6bad16.mp3\"><\/audio><\/figure>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong> LOGISTICS- <\/strong><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong> A syndicate of Egyptian banks is in talks to arrange an EGP 700 mn <\/strong><strong> facility to <\/strong><strong> finance a logistics zone at East Port Said port<\/strong>, <a target=\"_blank\" href=\"https:\/\/bit.ly\/44OX65H\" style=\"\" rel=\"noopener\">Al Mal<\/a> quotes sources in the know as saying. The loan is expected to be in the form of long-term financing over seven years, with the National Bank of Egypt reportedly acting as the main arranger of the financing and Banque Misr participating in the package.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong> The zone: <\/strong> East Port Said Port is set to have <a target=\"_blank\" href=\"https:\/\/bit.ly\/46b5cqc\" style=\"\" rel=\"noopener\">three logistics areas<\/a> across some 24 square-km, with one area inside the port extending over 8.4 square-km, and two areas outside the port.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong> Expansion at the port: <\/strong> The Suez Canal Container Terminal is building a second, <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/458ecb73-0cc1-4a59-8962-eacb4602b09d\" style=\"\" rel=\"noopener\">USD 500 mn<\/a> <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/458ecb73-0cc1-4a59-8962-eacb4602b09d\" style=\"\" rel=\"noopener\">container<\/a> <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/458ecb73-0cc1-4a59-8962-eacb4602b09d\" style=\"\" rel=\"noopener\">terminal<\/a> at the port while Sky Logistics and Reliance Logistics are working on a <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/fc7c3428-e05a-4f0f-9d09-acd66bdd77a5\" style=\"\" rel=\"noopener\">new<\/a> <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/fc7c3428-e05a-4f0f-9d09-acd66bdd77a5\" style=\"\" rel=\"noopener\">multipurpose terminal<\/a>.<\/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> #1- InstaPay to hit the Gulf \u2014 and then Brics countries? <\/strong>The Central Bank of Egypt (CBE) is considering linking its digital payments app to banks in the UAE, Saudi Arabia, and Jordan to allow Egyptians working abroad to transfer money to local accounts, an unnamed source at CBE reportedly told <a target=\"_blank\" href=\"https:\/\/bit.ly\/3RnhK9R\" style=\"\" rel=\"noopener\">A<\/a> <a target=\"_blank\" href=\"https:\/\/bit.ly\/3RnhK9R\" style=\"\" rel=\"noopener\">l Ma<\/a> <a target=\"_blank\" href=\"https:\/\/bit.ly\/3RnhK9R\" style=\"\" rel=\"noopener\">l<\/a>. The bank is also considering linking the app to banking systems in other countries \u2014 starting with members of the Brics bloc, which Egypt is set to <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/625a6a24-800b-46c9-b6ea-6a1158ee3640\" style=\"\" rel=\"noopener\">join next year<\/a>. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong> #2- Banque Misr, telecoms operator to launch local e-payments company: <\/strong>Banque Misr will launch an electronic payments company by the end of the year in partnership with the local arm of an Emirati telecom provider, <a target=\"_blank\" href=\"https:\/\/bit.ly\/489R4PZ\" style=\"\" rel=\"noopener\">A<\/a> <a target=\"_blank\" href=\"https:\/\/bit.ly\/489R4PZ\" style=\"\" rel=\"noopener\">sharq Busines<\/a> <a target=\"_blank\" href=\"https:\/\/bit.ly\/489R4PZ\" style=\"\" rel=\"noopener\">s<\/a> reports, citing two sources it says are in the know. The telecom company will hold a stake of more than 60% in the as yet unnamed venture, with the remaining stake held by Banque Misr.<\/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> The EMX\u2019s soybean debut didn\u2019t go to plan: <\/strong>The Egyptian Mercantile Exchange (EMX) has canceled all trades that took place on soybeans when they hit the market Monday, unnamed sources told <a target=\"_blank\" href=\"https:\/\/www.alborsaanews.com\/2023\/09\/11\/1711616\" style=\"\" rel=\"noopener\">Al Borsa<\/a>. Buyers reportedly withdrew from the maiden soybean sale because the asking price was EGP 1k higher than market price, the sources said. The Agriculture Ministry had offered 3k tons of soybeans on the bourse at EGP 24k per ton. Soybean is the fifth commodity to start trading on the exchange, joining <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/608343e2-2810-460d-9b34-fec140a19e76\" style=\"\" rel=\"noopener\">sugar<\/a>, <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/a3c8bf0f-0f62-45ff-9ba1-9a3edd9b892e\" style=\"\" rel=\"noopener\">wheat<\/a>, <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/737e1081-002c-463c-b357-12e8e82a9258\" style=\"\" rel=\"noopener\">yellow corn<\/a>, and bran. <\/p>\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> Dutch firms eye green hydrogen: <\/strong> A consortium of Dutch companies could invest in the Suez Canal Economic Zone (SCZone) under a cooperation agreement signed with the zone yesterday, according to <a target=\"_blank\" href=\"https:\/\/ent.news\/2023\/9\/879.pdf\" style=\"\" rel=\"noopener\">a statement (pdf)<\/a>. The companies are reportedly interested in investing in green hydrogen plants, the SCZone said, without providing further details.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong> Remember: <\/strong> Dutch government officials and an unknown energy company <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/fb2abe6e-1453-4bcc-af1c-329445278b8c\" style=\"\" rel=\"noopener\">were in the country<\/a> in May to explore green hydrogen production. A SCZone delegation <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/ea1f2ee0-de5d-420b-8030-37c9d8e2504c\" style=\"\" rel=\"noopener\">visited the country<\/a> earlier this year.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong> CLIMATE- <\/strong><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong> Green investment: <\/strong> Local recycling firms signed several MoUs with international partners at the Environmental and Climate Investment Forum yesterday.<\/p>\n<ul>\n<li>The Karlsruhe Institute of Technology\u2019s <a target=\"_blank\" href=\"https:\/\/www.ifg.kit.edu\/english\/5744.php\" style=\"\" rel=\"noopener\">Innovation Hub<\/a> will cooperate with <a target=\"_blank\" href=\"https:\/\/www.greenbuildegypt.com\/home\" style=\"\" rel=\"noopener\">Green Build Egypt<\/a> to partner on recycling construction, demolition, and mining waste under an agreement signed with the Waste Management Regulatory Authority. (<a target=\"_blank\" href=\"https:\/\/bit.ly\/45OtTsW\" style=\"\" rel=\"noopener\">Environment Ministry statement<\/a>)<\/li>\n<li>Local waste management firm <a target=\"_blank\" href=\"https:\/\/www.facebook.com\/aseelaym\/\" style=\"\" rel=\"noopener\">Green Planet<\/a> and the UAE\u2019s <a target=\"_blank\" href=\"https:\/\/www.zerocarbonvc.com\/\" style=\"\" rel=\"noopener\">Zero Carbon<\/a> will collaborate on an organic waste treatment project.<\/li>\n<\/ul>\n<ul>\n<li>Two German firms, <a target=\"_blank\" href=\"https:\/\/www.intec-energies.com\/index_en.html\" style=\"\" rel=\"noopener\">Intec<\/a> and Recom Patent & License, will set up a tire recycling business with the military\u2019s Arab Organization for Industrialization (AOI). (<a target=\"_blank\" href=\"https:\/\/bit.ly\/45OtTsW\" style=\"\" rel=\"noopener\">AOI statement<\/a>)<\/li>\n<\/ul>\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> New Sina to invest EGP 1 bn in Sina Cola following acquisition: <\/strong>Food and beverage investment firm New Sina plans to invest EGP 1 bn in <a target=\"_blank\" href=\"https:\/\/sinacola-egypt.com\/about\/\" style=\"\" rel=\"noopener\">Sina Cola<\/a> in 1Q 2024 after acquiring the soft drinks company, <a target=\"_blank\" href=\"https:\/\/bit.ly\/46dwxbv\" style=\"\" rel=\"noopener\">Al M<\/a> <a target=\"_blank\" href=\"https:\/\/bit.ly\/46dwxbv\" style=\"\" rel=\"noopener\">al<\/a> reports, quoting New Sina Managing Director Ahmed Hamouda. The money will be used to restart production lines and add new ones at Sina Cola factories in the Gamasa and Sadat City industrial zones, Hamouda said. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong> New Sina acquired 100% of Sina Cola\u2019s factories and the rights to its brand <\/strong> in November 2022, Hamouda said, without putting a value on the transaction. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong> BRIEFLY NOTED- <\/strong><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong> Domty\u2019s founding family restructures its ownership: <\/strong>The El Damaty familyyesterday sold a 24.6% stake (69.6k shares) in cheesemaker Domty to Cayman Islands vehicle International Dairy Investment, which the family wholly owns, according to a company statement to the <a target=\"_blank\" href=\"https:\/\/ent.news\/2023\/9\/864.pdf\" style=\"\" rel=\"noopener\">EGX (pdf)<\/a>. The restructuring \u201cwill not result in any change to Domty\u2019s ownership structure, as the ultimate beneficiary has not changed,\u201d the statement reads. The sellers secured the Financial Regulatory Authority\u2019s (FRA) approval to carry out the block transaction through the EGX. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong> Remember: The Damaty\u2019s dominate Domty. <\/strong>The family controlled <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/4317347c-adb2-46dc-8b8e-305cd02f3a3e\" style=\"\" rel=\"noopener\">some 89%<\/a> of the company\u2019s shares as of September 2022.<\/p>\n\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/also-on-our-radar\/\">ALSO ON OUR RADAR<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" 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href=\"https:\/\/enterpriseam.com\/egypt\/tag\/suez-canal-economic-zone\/\">Suez Canal Economic Zone<\/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=\"606256\" class=\"issue-section markets\">\n<div class=\"issue-section__content\">\n<div class=\"stories\">            <!-- Show divider before story section -->\r\n        <div \r\n            class=\"\r\n                story-section            \"\r\n            id=\"606256\">\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\">PLANET FINANCE<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2023\/09\/13\/another-ipo-in-riyadh\/\">\r\n                            Saudia subsidiary Saudi Logistics Services to go public in Riyadh                        <\/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\/13\/another-ipo-in-riyadh\/\" target=\"_blank\">\n                    Open in new tab                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/new-tab.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a href=\"#\" target=\"_blank\" onclick=\"event.preventDefault(); 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       <\/a>\r\n\r\n                \n<article id=\"post-606256\" class=\"content-area-description single-story post-606256 post type-post status-publish format-standard has-post-thumbnail hentry category-planet-finance tag-enterpriseam tag-financial-markets tag-planet-finance wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<aside>\t\t\t<div\r\n\t\t\t\t\t\t\t\tclass=\"newspack-popup-container newspack-popup hidden  newspack-inline-popup  newspack-lightbox-no-border   \"\r\n\t\t\t\trole=\"button\"\r\n\t\t\t\ttabindex=\"0\"\r\n\t\t\t\tstyle=\"background-color:#FFFFFF;color:#000\"\r\n\t\t\t\tid=\"id_408150\"\r\n\t\t\t\tdata-segments=\"\"\r\n\t\t\t\tdata-frequency=\"0,0,0,month\"\r\n\t\t\t>\r\n\t\t\t\t\n<div class=\"wp-block-group has-light-gray-background-color has-background\" style=\"padding-top:0px;padding-right:0px;padding-bottom:0px;padding-left:0px\"><div class=\"wp-block-group__inner-container is-layout-constrained wp-container-core-group-is-layout-ef38739e wp-block-group-is-layout-constrained\">\n<div class=\"wp-block-group is-content-justification-center is-nowrap is-layout-flex wp-container-core-group-is-layout-94bc23d7 wp-block-group-is-layout-flex\"><div class=\"wp-block-image\">\n<figure class=\"aligncenter size-full\"><img decoding=\"async\" src=\"https:\/\/ent.news\/internal\/408151.svg\" alt=\"\" class=\"wp-image-408151\"\/><\/figure>\n<\/div><\/div>\n<\/div><\/div>\n\t\t\t<\/div>\r\n\t\t<\/aside>\n<figure class=\"wp-block-audio mb-0\"><audio controls preload=\"metadata\" src=\"https:\/\/s3.us-east-1.amazonaws.com\/ent.news\/audio\/2023\/9\/.3d477206-6c5a-492a-a882-55fceec30738.mp3\"><\/audio><\/figure><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"> <strong> Another Saudi IPO in the cards: <\/strong> Saudi Arabian Airlines (aka Saudia) and Tarabot Air Cargo services will offer a 30% stake in air cargo handler <a target=\"_blank\" href=\"https:\/\/sal.sa\/\" style=\"\" rel=\"noopener\">Saudi Logistics<\/a> <a target=\"_blank\" href=\"https:\/\/sal.sa\/\" style=\"\" rel=\"noopener\">Services<\/a>(SAL) to the public in an IPO on the Tadawul, according to a <a target=\"_blank\" href=\"https:\/\/www.zawya.com\/en\/press-release\/companies-news\/intention-to-list-sal-saudi-logistics-services-company-on-the-main-market-of-the-saudi-exchange-dui5yfne\" style=\"\" rel=\"noopener\">press release<\/a>. The two shareholders will offer 24 mn shares in their subsidiary. Saudia currently owns 70% of SAL while Tarabot owns 30%. <\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong> The timeline: <\/strong>The bookbuilding period for institutional investors will run from 25 September to 1 October while retail investors will have from 11 October to 13 October, according to <a target=\"_blank\" href=\"https:\/\/ent.news\/2023\/9\/878.pdf\" style=\"\" rel=\"noopener\">the prospectus (pdf)<\/a>.<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong> IPO season in Riyadh: <\/strong><\/p><ul>\n<li><strong> ADES Holding: <\/strong> Egypt-born regional oil and gas services driller <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/2da9414e-d7c9-4f5a-87d7-aca35f01a5d9\" style=\"\" rel=\"noopener\">ADES Holding<\/a> is currently taking orders from institutional investors for its IPO, which is expected to raise around USD 1.2 bn.<\/li>\n<li><strong> Lumi: <\/strong> Saudi car rental firm <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/1af21586-f378-48a0-a4f9-44de27af8669\" style=\"\" rel=\"noopener\">Lumi<\/a> opened its sale to retail investors yesterday and will announce the final allocation next week. It is hoping to raise around SAR 1.1 bn by selling a 30% stake, having priced its IPO at the top of the range.<\/li>\n<\/ul><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\">^^ Read the full story in this morning\u2019s <a target=\"_blank\" href=\"https:\/\/enterprise.news\/logistics\/en\/news\/story\/76a97c56-0919-4743-968a-5003fe74e9c1\" style=\"\" rel=\"noopener\">Enterprise Logistics<\/a>.<\/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> Dubai housing boom: <\/strong> Dubai apartment prices jumped 20% on average this year to August, the fastest growth since 2014. (<a target=\"_blank\" href=\"https:\/\/www.bloomberg.com\/news\/articles\/2023-09-12\/dubai-apartment-prices-jump-most-in-a-decade-as-home-boom-widens?srnd=premium-middle-east#xj4y7vzkg\" style=\"\" rel=\"noopener\">Bloomberg<\/a>)<\/li>\n<li><strong> US firms are starting eye falling interest rates: <\/strong> In anticipation of falling borrowing costs, US corporates are starting to turn to shorter-term debt issuances to avoid locking in higher yields over the long term. (<a target=\"_blank\" href=\"https:\/\/www.ft.com\/content\/3846fc4a-c2b3-405c-80ae-d7ef1e5f4bf4\" style=\"\" rel=\"noopener\">Financial Times<\/a>) <\/li>\n<\/ul><p><a target=\"_blank\" id=\"t.b28c6b742fae1625f72df54aada2d23ea5a491e0\" rel=\"noopener\"><\/a> <a target=\"_blank\" id=\"t.0\" rel=\"noopener\"><\/a> <\/p><div class=\"stock-ticker-panel\">\n<table class=\"table stock-ticker-table table-striped markets-table\">\n<tbody>\n<tr class=\"tr-row-down\">\n<td class=\"td-list-down\">\n<p><svg class=\"e-icon e-TypeMarkets1\"><use xlink:href=\"#e-TypeMarkets1\"><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong> EGX30 <\/strong><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">19,144<\/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: +31.1%)<\/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\">11,156<\/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: +6.5%)<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-up\">\n<td class=\"td-list-up\">\n<p><svg class=\"e-icon e-TypeMarkets11\"><use xlink:href=\"#e-TypeMarkets11\"><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong> 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\">9,749<\/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: -4.5%)<\/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> 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\">4,061<\/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: +21.7%)<\/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> 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\">4,462<\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">-0.6% (YTD: +16.2%)<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-up\">\n<td class=\"td-list-up\">\n<p><svg class=\"e-icon e-TypeMarkets11\"><use xlink:href=\"#e-TypeMarkets11\"><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong> 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\">7,528<\/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: +1.0%)<\/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> 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\">4,242<\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">-0.3% (YTD: +11.8%)<\/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> 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 92.03<\/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\">+1.5%<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-up\">\n<td class=\"td-list-up\">\n<p><svg class=\"e-icon e-TypeMarkets11\"><use xlink:href=\"#e-TypeMarkets11\"><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong> 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 2.75<\/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\">+5.3%<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-down\">\n<td class=\"td-list-down\">\n<p><svg class=\"e-icon e-TypeMarkets1\"><use xlink:href=\"#e-TypeMarkets1\"><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong> 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 1,935.70<\/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\">-0.6%<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-up\">\n<td class=\"td-list-up\">\n<p><svg class=\"e-icon e-TypeMarkets11\"><use xlink:href=\"#e-TypeMarkets11\"><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong> BTC <\/strong><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">USD 26,075<\/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\">+4.0% (YTD: +57.8%)<\/p>\n<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<\/div><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong> THE CLOSING BELL- <\/strong><\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong> The EGX30 fell 0.7% at yesterday\u2019s close <\/strong> on turnover of EGP 1.62 bn (24% below the 90-day average). Local investors were net sellers. The index is up 31.1% YTD.<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong> In the green: <\/strong>Abu Dhabi Islamic Bank (+1.8%), Eastern Company (+1.5%) and Qalaa Holdings (+1.3%).<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong> In the red: <\/strong>Telecom Egypt (-2.4%), E-Finance (-2.3%) and Heliopolis Housing (-2.0%).<\/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\/financial-markets\/\">Financial Markets<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/planet-finance\/\">Planet Finance<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                    <\/div>\n    <\/div>\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<div class=\"alignfull hardhat vertical-section wide-section wp-block-group issue-section\" id=\"606258\">\r\n    <div class=\"issue-section__content\">\r\n        <div class=\"alignwide wp-block-columns\">\r\n            <div class=\"wp-block-column sidebar-vertical-info\" style=\"flex-basis:22.8%\">\r\n                <figure class=\"wp-block-image size-full\">\r\n                                            <img decoding=\"async\" src=\"https:\/\/s3.amazonaws.com\/resources.inktankir.com\/internal\/27467.svg\" style=\"width:80%\" alt=\"\" >\r\n                                    <\/figure>\r\n                <p>\r\n                    Our weekly deep-dive into infrastructure in Egypt.                <\/p>\r\n                <figure class=\"wp-block-image size-full mt-0 mb-0 img-white-bg\"><img decoding=\"async\" src=\"https:\/\/s3.amazonaws.com\/resources.inktankir.com\/internal\/27479.svg\" alt=\"\"><\/figure>\r\n                <p class=\"has-text-color has-link-color\">\r\n                    Published every Wednesday in EnterpriseAM.                <\/p>\r\n                <div class=\"wp-block-buttons mt-0\">\r\n                    <div class=\"wp-block-button\">\r\n                        <a class=\"wp-block-button__link has-background wp-element-button\" href=\"https:\/\/enterpriseam.com\/egypt\/hardhat\/\">\r\n                            Read Hardhat                        <\/a>\r\n                    <\/div>\r\n                <\/div>\r\n            <\/div>\r\n            <div class=\"wp-block-column issue-section\">\r\n                <div class=\"story-section\">\r\n                    <div class=\"issue-story-header text-center\">\r\n                        <div class=\"index-number\">9<\/div>\r\n    \r\n                        <p class=\"f-graphik\">HARDHAT<\/p>\r\n                        <h3 class=\"story-title\"><a href=\"https:\/\/enterpriseam.com\/egypt\/hardhats\/the-govt-is-pacing-out-its-water-desalination-plant-plans-on-fx-challenges-land-allocations\/\"> \r\n                            Egypt is pacing out its water desalination plant plans on FX challenges + land allocations<\/a>\r\n                        <\/h3>\r\n    \r\n\t\t\t\t\t\n<div class=\"cta\">\n    <div class=\"cta__btn share-dropdown-cta dropdown-toggle-btn\" style=\"position:relative\">\n        <img decoding=\"async\" src=\"https:\/\/ent.news\/internal\/408834.svg\" alt=\"\">\n        Share Story\n        <!-- Dropdown Menu -->\n        <ul class=\"share-menu\">\n            <li class=\"list-inline-item\">\n                <a href=\"https:\/\/enterpriseam.com\/egypt\/hardhats\/the-govt-is-pacing-out-its-water-desalination-plant-plans-on-fx-challenges-land-allocations\/\" target=\"_blank\">\n                    Open in new tab                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/new-tab.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a href=\"#\" target=\"_blank\" onclick=\"event.preventDefault(); 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The tender for the first batch of three or four plants, which a Sovereign Fund of Egypt (SFE) spokesperson <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/f776d860-3854-414f-b89b-c8755dae0862\" style=\"\" rel=\"noopener\">told us in May<\/a> was set to kick off in 3Q 2023, is now waiting on the land allocation process to be completed.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong> REFRESHER- This has been in the works for almost four years: <\/strong>The government\u2019s water desalination infrastructure drive comes in response to concerns about water scarcity, particularly in light of <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/f60a07c8-be6e-48c5-a4dd-0be64031717e\" style=\"\" rel=\"noopener\">developments related to the Grand Ethiopian Renaissance Dam (GERD)<\/a> and the necessity for water in various development projects. In 2020, Egypt announced a plan to invest <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/64f6386d-108e-41cd-872e-ace09bcbf196\" style=\"\" rel=\"noopener\">more than EGP 134.2 bn<\/a> in desalination plants that would give us 8.85 mn cubic meters per day (cbm\/d) of freshwater.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong> Who are the private sector players in the running? <\/strong>Some 10-14 qualified consortiums from an earlier tender round this year will be invited to submit financial and technical proposals for these plants, said Hannoura. The government intends to tender a total of 21 desalination plants. The SFE has prequalified <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/f776d860-3854-414f-b89b-c8755dae0862\" style=\"\" rel=\"noopener\">17 consortiums<\/a> out of 25 to bid in its upcoming tenders for renewables-powered desalination projects. The firms were chosen with the technical help of the PPP unit.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong> Investments + capacity: <\/strong>Each plant is expected to require investments worth USD 270 mn and have a production capacity of 300k cbm\/d, said Hannoura. The first batch of plants will require a total investment of c. USD 1.5 bn, he told us.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong> What\u2019s the hold up? Revising costs + land allocation: <\/strong> \u201cExchange rate fluctuations may necessitate adjustments in the investments required for the projects,\u201d said Hannoura. The Finance Ministry is still determining the size of the required investment against the backdrop of global inflation and a weaker EGP, a government source told us, confirming what we were <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/84d7045a-c521-4048-ad7b-2a0558a1f5fa\" style=\"\" rel=\"noopener\">told<\/a> back in March. Allocating lands to the projects is another time consuming process that entails local municipalities ceding control of the land to the SFE, which in turn allocates them to private sector players.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong> The FX is needed for importing key components: <\/strong>Most of the components needed for the construction of the desalination plants and the solar and\/or wind plants that will power them are to be imported, which poses a challenge to the projects considering our ongoing FX crunch. Manufacturers have been struggling to import key components for more than a year after the war in Ukraine helped trigger a nationwide FX crunch that has made it difficult to secure the hard currency needed to cover shipments.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong> Private sector players will need to source the necessary FX: <\/strong> Private sector players will be responsible for securing the necessary funding from various sources in accordance with the implementation schedule, said Hannoura.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong> DFIs are lending a helping hand: <\/strong>The European Bank for Reconstruction and Development (EBRD) and the International Finance Corporation (IFC) are <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/7afa051f-0d4d-4fb3-a809-d033b0e170ab\" style=\"\" rel=\"noopener\">advising the SFE<\/a> on technical and legal aspects of the public-private partnerships as well as ESG assessments for the projects \u201cin order to bring to the market a solid investment product,\u201d the release reads. The SFE will be investing in the plants alongside successful private-sector players.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong> The long term plan: <\/strong>The strategic plan for desalination is divided into six five-year plans until 2050. These plans aim to achieve a total capacity of 8.85 mn cbm\/d across 11 coastal governorates nationwide, Deputy Housing Minister Sayed Ismail told us. The first five-year plan, which is currently underway, includes the establishment of 21 desalination plants with a capacity of 3.5 mn cbm\/d, expandable to 6.6 mn cbm\/day, Ismail added.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong> Starting from Matrouh: <\/strong>The initial phase of desalination plants will concentrate on the Matrouh region and the northwestern coast due to their readiness and the potential for solar energy projects to power the plants, a government source told us. Priority will be given to consortiums working on technology localization for desalination plants, the source added.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong> Powering the desalination plants with renewables: <\/strong> The government is tendering <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/a423c134-0e3b-40af-9bc1-7ab40b8dd0d4\" style=\"\" rel=\"noopener\">five solar<\/a> <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/a423c134-0e3b-40af-9bc1-7ab40b8dd0d4\" style=\"\" rel=\"noopener\">power plants<\/a> on the north coast to power some of our desalination plants and these renewable 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 cbm\/d.More than six consortiums have expressed interest in the tender for five solar power plants up for grabs on the north coast. The consortiums have until <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/a2b85b33-08f0-40af-995f-f72ff64b189b\" style=\"\" rel=\"noopener\">27 September<\/a> 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\">\n<hr style=\"height:2px;border-width:0;color:gray;background-color:gray\">\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong> Your top infrastructure stories for the week: <\/strong><\/p>\n<ul>\n<li><strong> Orascom + Colas get contract to convert Alexandria\u2019s Abu Qir railway: <\/strong> Orascom Construction has <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/36d32185-6742-4458-b5cc-c1f462796f23\" style=\"\" rel=\"noopener\">inked an agreement<\/a> with Colas Rail to convert Alexandria\u2019s Abu Qir railway into an underground metro with a EUR 1 bn loan from the European Investment Bank and the European Bank for Reconstruction and Development. <\/li>\n<li><strong> Yanmu x CIB<\/strong>: Yanmu logistics park will receive <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/54b2cff0-e41b-49ce-96c5-41964b797d44\" style=\"\" rel=\"noopener\">a EGP 1.5 bn, 10-year loan<\/a> from CIB to help fund its first logistics park east of Cairo. Yanmu is a JV between HAU Logistics and Kuwait-based global supply chain and infrastructure player Agility. <\/li>\n<li><strong> Swedish consultancy to study integrating renewables into the national grid: <\/strong>The Egyptian Electricity Transmission Company has contracted Swedish consultancy AFRY to conduct <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/54b2cff0-e41b-49ce-96c5-41964b797d44\" style=\"\" rel=\"noopener\">a feasibility study<\/a> on connecting renewable energy sources to the national energy grid.<\/li>\n<li><strong> Two agreements with EDF Renewables: <\/strong> France-based EDF Renewables has <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/36d32185-6742-4458-b5cc-c1f462796f23\" style=\"\" rel=\"noopener\">sign<\/a> <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/36d32185-6742-4458-b5cc-c1f462796f23\" style=\"\" rel=\"noopener\">ed two MoUs<\/a> with the Egyptian Electricity Holding Company and North Cairo Electricity Distribution Company to collaborate in electricity and energy projects.<\/li>\n<\/ul>\n\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/finance-ministry\/\">Finance Ministry<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/hardhat\/\">Hardhat<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/infrastructure\/\">infrastructure<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/renewables\/\">renewables<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/state-privatization-program\/\">state privatization program<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/water\/\">water<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                    <\/div>\n    <\/div>\n                    <\/div>\r\n                <\/div>\r\n            <\/div>\r\n            <div class=\"wp-block-column\" style=\"flex-basis:19.8%\"><\/div>\r\n        <\/div>\r\n    <\/div>\r\n<\/div>\n<section id=\"606260\" 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\/13\/606260\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-606260\" class=\"content-area-description single-story post-606260 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>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 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>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;\">23-29 September (Saturday-Friday): Engineering Export Council of Egypt Iraqi trade mission.<\/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;\">27 September (Wednesday): Prophet Muhammad\u2019s birthday.<\/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 style=\"font-weight:400;\">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 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;\">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>2-5 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 style=\"font-weight:400;\">7 October (Saturday): HHD shareholders to consider NOSI\u2019s offer to acquire Heliopark land.<\/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>9-15 December (Saturday-Friday) :The Engineering Export Council of Egypt\u2019s<\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/bit.ly\/3RcDzJg\" style=\"\">trade mission<\/a><\/span><span style=\"font-weight:400;\"> to Saudi Arabia.<\/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\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>NSPO takes stakes in Beshay Steel units | CBE to take InstaPay regional? | Apple\u2019s new green gadgets | Oil supply crunch looming?<\/p>\n","protected":false},"featured_media":606238,"menu_order":0,"template":"","categories":[],"tags":[],"class_list":["post-606237","issue","type-issue","status-publish","has-post-thumbnail","hentry","wpautop","entry"],"acf":{"mongo_id":"4e7ffa38-f99a-443f-9496-63c58c797b82","teaser":"NSPO takes stakes in Beshay Steel units | CBE to take InstaPay regional? | Apple\u2019s new green gadgets | Oil supply crunch looming?","photo_url":"https:\/\/ent.news\/2023\/9\/903.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>From TE and Vodafone to Gabal El Zeit, we have lots of 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