{"id":606771,"date":"2023-09-21T00:00:00","date_gmt":"2023-09-21T00:00:00","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/?post_type=issue&#038;p=606771"},"modified":"2025-12-17T00:47:58","modified_gmt":"2025-12-17T00:47:58","slug":"eur-1-bn-tire-factory-lots-more-investment-news","status":"publish","type":"issue","link":"https:\/\/enterpriseam.com\/egypt\/issues\/eur-1-bn-tire-factory-lots-more-investment-news\/","title":{"rendered":"EUR 1 bn tire factory + lots more investment news"},"content":{"rendered":"<section id=\"606773\" 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=\"606773\">\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\/21\/cbe-expected-to-leave-rates-unchanged-when-it-meets-today\/\">\r\n                            Egypt\u2019s central bank expected to leave rates unchanged when it meets today                        <\/a>\r\n                    <\/h3>\r\n\r\n                    \r\n\t\t\t\t\t\n<div class=\"cta\">\n    <div class=\"cta__btn share-dropdown-cta dropdown-toggle-btn\" style=\"position:relative\">\n        <img decoding=\"async\" src=\"https:\/\/ent.news\/internal\/408834.svg\" alt=\"\">\n        Share Story\n        <!-- Dropdown Menu -->\n        <ul class=\"share-menu\">\n            <li class=\"list-inline-item\">\n                <a href=\"https:\/\/enterpriseam.com\/egypt\/2023\/09\/21\/cbe-expected-to-leave-rates-unchanged-when-it-meets-today\/\" target=\"_blank\">\n                    Open in new tab   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data-attachment-id=\"606774\" data-permalink=\"https:\/\/enterpriseam.com\/egypt\/2023\/09\/21\/cbe-expected-to-leave-rates-unchanged-when-it-meets-today\/1366-jpg-2\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2023\/9\/1366.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"1366.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2023\/9\/1366.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2023\/9\/1366.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-606773\" class=\"content-area-description single-story post-606773 post type-post status-publish format-standard has-post-thumbnail hentry category-what-were-tracking-today tag-central-bank-of-egypt tag-enterpriseam tag-interest-rates 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\/.5d425a92-9aef-41fc-93b0-4dde8f5b1910.mp3\"><\/audio><\/figure><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong> Good morning, wonderful people, and thank you \u2014 one and all \u2014 for an amazing week. <\/strong>It was a delight to see so many of you at our inaugural Enterprise Finance Forum on Monday and Tuesday. <\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong> It\u2019s was also a great week for news, with tons of investment in the headlines <\/strong> from both Gulf investors and the domestic private sector. This morning builds on that theme: While our lead story is a package of state social support measures, we have news of an EUR 1 bn tire factory, funding from our friends at IFC for Damietta Port, and more. And on that topic:<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><a id=\"wwtt2\"><\/a><strong> INVESTMENT WATCH- \u201cEgypt is very interesting\u201d -Sagard: <\/strong> Canadian alternative asset manager <a target=\"_blank\" href=\"https:\/\/www.sagard.com\" style=\"\" rel=\"noopener\">Sagard<\/a> could invest in financial services firms in Egypt, as well as the UAE, Saudi Arabia, and Turkey, <a target=\"_blank\" href=\"https:\/\/www.thenationalnews.com\/business\/economy\/2023\/09\/20\/canadas-sagard-targets-uae-egypt-turkey-and-saudi-arabia-for-new-investment\/\" style=\"\" rel=\"noopener\">the National<\/a> quotes CEO and chair Paul Desmarais III as saying in an interview. The company, which is backed by Abu Dhabi sovereign wealth fund ADQ, is looking to double its assets under management to USD 30 bn in the next five years. <\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><a id=\"wwtt3\"><\/a><strong> FROM THE RUMOR MILL- <\/strong><strong> Is Saudi\u2019s PIF eyeing three local private companies? <\/strong>Saudi Arabia\u2019s sovereign wealth fund PIF is reportedly in advanced talks to acquire three private Egyptian companies that operate in the healthcare, education, and real estate sectors before the end of the year, <a target=\"_blank\" href=\"https:\/\/bit.ly\/3EKe5LM\" style=\"\" rel=\"noopener\">Da<\/a> <a target=\"_blank\" href=\"https:\/\/bit.ly\/3EKe5LM\" style=\"\" rel=\"noopener\">ily News E<\/a> <a target=\"_blank\" href=\"https:\/\/bit.ly\/3EKe5LM\" style=\"\" rel=\"noopener\">gypt<\/a> reports, citing unnamed sources it says are close to the transactions. The real estate developer in question is \u201cone of the largest companies operating in Egypt\u201d, the outlet quotes a source as saying.<\/p><hr style=\"height:2px;border-width:0;color:gray;background-color:gray\"><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><a id=\"wwtt4\"><\/a> <strong> WATCH THIS SPACE: We\u2019ll have a timeline next week for the upcoming presidential election<\/strong>, the National Elections Authority said at a press conference yesterday. The NEA will announce the timeline on Monday. The question on everyone\u2019s minds: Is there a scenario in which we can head to the polls in December?<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong> PSA- Next week is a four-day week <\/strong> thanks to Prophet Mohammed\u2019s birthday falling on a Wednesday. The Central Bank of Egypt <a target=\"_blank\" href=\"https:\/\/bit.ly\/3ZtZGx0\" style=\"\" rel=\"noopener\">conf<\/a> <a target=\"_blank\" href=\"https:\/\/bit.ly\/3ZtZGx0\" style=\"\" rel=\"noopener\">irmed<\/a> yesterday that the banking sector will be taking Thursday, 28 September off. This follows the cabinet's <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/00af1c09-5e0b-4993-8d1a-fbdd2cf7c070\" style=\"\" rel=\"noopener\">announcement<\/a> last week that the public and private sectors will both be off.<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong> We may also be in for a three-day weekend the following week <\/strong> in observance of Armed Forces Day, which falls on the Friday. The government typically declares a replacement day for national holidays that fall on Fridays. <\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong> HAPPENING TODAY- <\/strong><\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><a id=\"wwtt1\"><\/a> <strong> #1- IT\u2019S INTEREST RATE DAY- <\/strong> The Central Bank of Egypt (CBE) is expected to leave interest rates unchanged when it meets today, according to <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/a3037aef-46c0-4ca4-a6c0-06ea9756a7e1\" style=\"\" rel=\"noopener\">our customary poll<\/a> of analysts. All seven of the people we spoketo think<strong> the CBE will leave rates on hold thanks to easing monthly inflation and the need t <\/strong>o retain policy space for a widely anticipated devaluation. A <a target=\"_blank\" href=\"https:\/\/www.nasdaq.com\/articles\/poll-egypt-seen-leaving-interest-rates-unchanged-on-thursday\" style=\"\" rel=\"noopener\">Reuters poll<\/a> returned a similar forecast.<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong> #2- The three-day <\/strong><strong><a target=\"_blank\" href=\"https:\/\/www.cityscapeegypt.com\/en\/home.html\" style=\"\" rel=\"noopener\">Cityscape real estate expo<\/a><\/strong><strong> continues <\/strong>at the Egypt International Exhibition Center today. <\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong> #3- It\u2019s day 3 of the UN general debate: <\/strong> Among <a target=\"_blank\" href=\"https:\/\/gadebate.un.org\/en%5C\" style=\"\" rel=\"noopener\">today\u2019s speakers<\/a> are Palestine, Sudan, Kuwait, Yemen, France, the EU and China. We\u2019re still waiting on a slot for Egypt.<\/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\/1364.jpg?ssl=1\"><\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><a id=\"wwtt5\"><\/a><strong> Techtember continues: Reviewers are out this week with their takes on the newly <\/strong><strong> released iPhone 15<\/strong>, and the verdict is quite positive. At the high end of the scale, pundits are loving the new, lighter titanium build on the 15 Pro and the larger Pro Max models, the new programmable mute button, and very strong camera upgrades. The 15 and 15 Plus models get an upgraded processor, improved cameras, and Dynamic Island, but no mute switch or titanium. Both models have subtly updated contours. <strong> Oh, and both devices now feature USB-C ports. <\/strong><\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong> Must-read reviews: <\/strong>As always, start with <a target=\"_blank\" href=\"https:\/\/daringfireball.net\/2023\/09\/the_iphones_15_pro\" style=\"\" rel=\"noopener\">John Gruber\u2019s Daring Fireball<\/a>, then head over to the Verge, which has great takes on both the <a target=\"_blank\" href=\"https:\/\/www.theverge.com\/23879726\/apple-iphone-15-plus-review\" style=\"\" rel=\"noopener\">15 \/ 15 Plus<\/a> and <a target=\"_blank\" href=\"https:\/\/www.theverge.com\/23879619\/apple-iphone-15-pro-max-review\" style=\"\" rel=\"noopener\">Pro \/ Pro Max<\/a>. <\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong> Want to watch instead? <\/strong>The Verge, once more (<a target=\"_blank\" href=\"https:\/\/www.youtube.com\/watch?v=_ZajW9gBzVQ\" style=\"\" rel=\"noopener\">watch, runtime: 12:08<\/a>) \u2014 and Marques Brownlee is in form (<a target=\"_blank\" href=\"https:\/\/www.youtube.com\/watch?v=piYf4gDthjY\" style=\"\" rel=\"noopener\">watch, runtime: 11:20<\/a>). But if you\u2019re a photographer, head straight to PetaPixel (<a target=\"_blank\" href=\"https:\/\/petapixel.com\/2023\/09\/19\/the-iphone-15-pro-and-pro-max-review-for-photographers\/#:~:text=iPhone%2015%20Pro%20and%20Pro%20Max%20Review%3A%20Image%20Quality%20Results,after%20the%20photo%20is%20taken.\" style=\"\" rel=\"noopener\">watch, runtime: 22:02<\/a>) for Chirs and Jordan\u2019s take or head over to the Art of Photography (<a target=\"_blank\" href=\"https:\/\/www.youtube.com\/watch?v=QW2w55S98j8\" style=\"\" rel=\"noopener\">watch, runtime: 16:25<\/a>), where Ted Forbes holds court.<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong> When can we expect it here in Egypt? <\/strong>No time soon \u2014 not officially. While you can occasionally get some (lower storage capacity) iPhone 14 models on Amazon.eg, Apple authorized resellers including <a target=\"_blank\" href=\"https:\/\/www.tradelinestores.com\/\" style=\"\" rel=\"noopener\">Tradeline<\/a> have only the now two-year-old iPhone 13 models on their sites.<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong> MEANWHILE- MICROSOFT has a special event today <\/strong><strong><a target=\"_blank\" href=\"https:\/\/www.theverge.com\/2023\/9\/19\/23878352\/microsoft-surface-ai-event-laptop-studio-2-go-rumors-leaks\" style=\"\" rel=\"noopener\">expected to focus on new Surface hardware and artificial intelligence<\/a><\/strong><strong> . <\/strong>The tech giant will hold the event just days after hardware boss Panos Panay said he was leaving \u2014 apparently to Amazon. Watch the Microsoft event <a target=\"_blank\" href=\"https:\/\/www.microsoft.com\/en-us\/event?ranMID=24542&amp;ranEAID=nOD\/rLJHOac&amp;ranSiteID=nOD_rLJHOac-KSDajJCMcuYU1PBLHpCNhQ&amp;epi=nOD_rLJHOac-KSDajJCMcuYU1PBLHpCNhQ&amp;irgwc=1&amp;OCID=AIDcmm549zy227_aff_7593_1243925&amp;tduid=%28ir__11sf1bmcwwkfdj2jvow231mfk22xbwlnwlou22hj00%29%287593%29%281243925%29%28nOD_rLJHOac-KSDajJCMcuYU1PBLHpCNhQ%29%28%29&amp;irclickid=_11sf1bmcwwkfdj2jvow231mfk22xbwlnwlou22hj00\" style=\"\" rel=\"noopener\">here (recorded) at 8pm CLT<\/a> if you\u2019re so inclined, or catch the live blog from The Verge starting at 5pm CLT. <\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong> Speaking of AMAZON- <\/strong>Jeff Bezos\u2019 merry crew had their own hardware event yesterday and it cemented the retail (and cloud) giant\u2019s status as an also-ran on the device front. The Verge has a rundown on all the announcements <a target=\"_blank\" href=\"https:\/\/www.theverge.com\/2023\/9\/20\/23881164\/amazon-event-hardware-devices-alexa-echo-ring\" style=\"\" rel=\"noopener\">here<\/a>.<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong> NEXT UP after Microsoft is GOOGLE<\/strong>, which will formally launch on Wednesday, 4 October the (already kind-of-announced) Google Pixel 8 and 8 Pro along with a new watch.<\/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> WEEKEND READING- Learn how to be really, truly happy. <\/strong>Maybe it\u2019s middle age or millennial angst (we have both happening here at Enterprise World HQ), but even the Gen Z crowd (in the form of the resident 16-year-old) is getting into The Atlantic\u2019s happiness column by the inimitable Arthur C. Brooks. <a target=\"_blank\" href=\"https:\/\/www.theatlantic.com\/projects\/how-build-life\/\" style=\"\" rel=\"noopener\">Start anywhere you please in the archive<\/a>. <\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong> Need more pointed suggestions? <\/strong><\/p><ul>\n<li><a target=\"_blank\" href=\"https:\/\/www.theatlantic.com\/ideas\/archive\/2023\/08\/apology-contrition-responsibility-benefits\/675025\/\" style=\"\" rel=\"noopener\">How to apologize like a pro<\/a> <\/li>\n<li><a target=\"_blank\" href=\"https:\/\/www.theatlantic.com\/ideas\/archive\/2023\/08\/vacation-personality-happiness-travel-relax\/675187\/\" style=\"\" rel=\"noopener\">How to pick the right sort of vacation for<\/a> <a target=\"_blank\" href=\"https:\/\/www.theatlantic.com\/ideas\/archive\/2023\/08\/vacation-personality-happiness-travel-relax\/675187\/\" style=\"\" rel=\"noopener\">you<\/a> <\/li>\n<li><a target=\"_blank\" href=\"https:\/\/www.theatlantic.com\/family\/archive\/2022\/07\/pillars-of-happiness-from-100-lessons-on-how-to-be-happy\/670586\/\" style=\"\" rel=\"noopener\">A happiness columnist\u2019s three biggest happiness rules<\/a> <\/li>\n<\/ul><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong> Want to hear more of Mr. Brooks? <\/strong> He\u2019s appeared on (Egyptian-American-Canadian) longevity and performance guru Dr. Peter Attia\u2019s podcast (<a target=\"_blank\" href=\"https:\/\/www.youtube.com\/watch?v=UKFdnOJKyAU\" style=\"\" rel=\"noopener\">watch, runtime: 1:47:36<\/a>) and Tim Ferriss had him on last week (<a target=\"_blank\" href=\"https:\/\/www.youtube.com\/watch?v=LFKY1scJepM\" style=\"\" rel=\"noopener\">watch, runtime: 2:42:55<\/a>) <\/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> HAPPENING NEXT WEEK- <\/strong><\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong> AIIB meeting: <\/strong>Sharm El Sheikh <a target=\"_blank\" href=\"https:\/\/bit.ly\/43zXWDg\" style=\"\" rel=\"noopener\">will host<\/a> the Asian Infrastructure Investment Bank\u2019s annual board meeting on Monday and Tuesday, 25-26 September.<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong> THE BIG STORY ABROAD- <\/strong><\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong> The big story in the global business press: <\/strong> The Federal Reserve\u2019s decision to leave interest rates unchanged, which we have more details on this morning\u2019s Planet Finance, below. (<a target=\"_blank\" href=\"https:\/\/www.reuters.com\/markets\/rates-bonds\/fed-projections-show-if-soft-landing-is-new-baseline-or-baseless-2023-09-20\/\" style=\"\" rel=\"noopener\">Reuters<\/a> | <a target=\"_blank\" href=\"https:\/\/www.bloomberg.com\/news\/articles\/2023-09-20\/fed-signals-higher-for-longer-rates-with-hikes-almost-finished?srnd=premium-middle-east\" style=\"\" rel=\"noopener\">Bloomberg<\/a> | <a target=\"_blank\" href=\"https:\/\/www.ft.com\/content\/600bcde1-f335-4b37-af93-52fe54bddf4a\" style=\"\" rel=\"noopener\">Financial Times<\/a> | <a target=\"_blank\" href=\"https:\/\/www.wsj.com\/economy\/central-banking\/dont-buy-the-feds-rate-projections-5dc96fd0\" style=\"\" rel=\"noopener\">Wall Street Journal<\/a> | <a target=\"_blank\" href=\"https:\/\/www.cnbc.com\/2023\/09\/20\/fed-rate-decision-september-2023-.html\" style=\"\" rel=\"noopener\">CNBC<\/a>)<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong> MBS + Netanyahu are talking up the prospects for Saudi-Israeli normalization: <\/strong> On the heels of <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/bfb30afc-e315-402c-83ac-09cb3fd16fe9\" style=\"\" rel=\"noopener\">a report<\/a> that Saudi had exited talks with Israel to normalize ties, the leaders of the two countries yesterday gave public backing to the US-sponsored talks aimed at bringing Riyadh and Tel Aviv together. In an interview with Fox News (<a target=\"_blank\" href=\"https:\/\/www.youtube.com\/watch?v=CX1t2ZIpJ_k\" style=\"\" rel=\"noopener\">watch, runtime: 12:47<\/a>), <strong> Saudi crown prince Mohamed bin Salman <\/strong> denied the report, saying that \u201cevery day, we get closer\u201d towards normalization. Meanwhile, <strong> Israeli PM Benjamin Netanyahu <\/strong><a target=\"_blank\" href=\"https:\/\/www.bloomberg.com\/news\/articles\/2023-09-20\/netanyahu-says-israel-saudi-arabia-can-achieve-historic-peace?srnd=premium-middle-east\" style=\"\" rel=\"noopener\">said<\/a> that the two countries will be able to \u201cforge a historic peace\u201d under US leadership. This came during talks with US President Joe Biden on the sidelines of the UN General Assembly yesterday.<\/p>\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/central-bank-of-egypt\/\">Central Bank of Egypt<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/interest-rates\/\">interest rates<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/what-were-tracking-today\/\">What We&#039;re Tracking Today<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                    <\/div>\n    <\/div>\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"606775 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=\"606775\">\r\n            \r\n            <div class=\"story__body\">\r\n\r\n                <a href=\"https:\/\/enterpriseam.com\/egypt\/2023\/09\/21\/606775\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-606775\" class=\"content-area-description single-story post-606775 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:\/\/apps.apple.com\/sa\/app\/somabay-lifestyle\/id6457160123\" target=\"_blank\" rel=\"noopener\"><img data-recalc-dims=\"1\" decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/ads\/imgs\/56.png?ssl=1\"><\/a><\/span><\/p><div class=\"grouped-tags\">\n<p><span>We are proud to present Somabay's latest lifestyle app, powered by Quintessentially \u2014 bringing you a new era of ultimate luxury where you receive elevated access to a world of exclusive services and perks. All our homeowners now have the privilege of enjoying access to booking local and international restaurants, events, hospitality, and so much more, at the touch of a button no matter where they may be. Download our Somabay Lifestyle app <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/apps.apple.com\/eg\/app\/somabay-lifestyle\/id6457160123\" style=\"\">at the App Store for iOS<\/a><\/span><span style=\"font-weight:400;\">.<\/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=\"606776\" 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=\"606776\">\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\">Cabinet watch<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2023\/09\/21\/cabinet-approves-social-support-measures-renewables-expansion\/\">\r\n                            Egyptian cabinet approves social support measures, renewables expansion                        <\/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\/21\/cabinet-approves-social-support-measures-renewables-expansion\/\" 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\/21\/cabinet-approves-social-support-measures-renewables-expansion\/')\">\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\/21\/cabinet-approves-social-support-measures-renewables-expansion\/\">\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\" 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href=\"https:\/\/api.whatsapp.com\/send?text=Cabinet+approves+social+support+measures%2C+renewables+expansion+https%3A%2F%2Fenterpriseam.com%2Fegypt%2F2023%2F09%2F21%2Fcabinet-approves-social-support-measures-renewables-expansion%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\/21\/cabinet-approves-social-support-measures-renewables-expansion\/\">\r\n                    <div class=\"photo photo--above\">\r\n                        <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2023\/5\/1025.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"606777\" data-permalink=\"https:\/\/enterpriseam.com\/egypt\/2023\/09\/21\/cabinet-approves-social-support-measures-renewables-expansion\/1025-jpg-9\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2023\/5\/1025.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"1025.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2023\/5\/1025.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2023\/5\/1025.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-606776\" class=\"content-area-description single-story post-606776 post type-post status-publish format-standard has-post-thumbnail hentry category-cabinet-watch tag-al-nowais tag-amea-power tag-cabinet-watch tag-economy tag-energy tag-enterpriseam tag-gasco tag-lukoil tag-oil-and-gas tag-oil-ministry tag-renewables tag-social-welfare 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\/.529cb708-cfde-4ab0-af3e-8f91dcd90299.mp3\"><\/audio><\/figure>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"> <strong> An eventful cabinet meeting: <\/strong>Ministers yesterday greenlit a slew of decisions, including the recently-announced social support measures, a proposal to increase the capacity of Benban and establish a new wind farm, and new golden licenses for industrial projects, cabinet said in <a target=\"_blank\" href=\"https:\/\/bit.ly\/45ZNiHj\" style=\"\" rel=\"noopener\">a statement<\/a> following its weekly meeting.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong> #1- Fresh wage hike, tax cut + social support approved: <\/strong> Cabinet gave the go-ahead to the <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/9b182e4c-7409-4375-b92f-82f32198f67c\" style=\"\" rel=\"noopener\">emergency social support measures<\/a> announced by President Abdel Fattah El Sisi last week aimed at alleviating the impact of the economic crisis on vulnerable households. These included a minimum wage hike for public-sector workers, a higher one-off bonus payment for pensioners and the public sector, more generous pension payouts, and a wage tax cut. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong> A tax cut, you say? Don\u2019t get too excited, it\u2019s a modest one: <\/strong> The basic personal exemption for wage taxes will rise to EGP 45k from EGP 36k today. That\u2019s a break for employers who offer net salaries \u2014 and for employees at firms that offer gross salaries.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong> The measures will all go into effect starting from 1 October <\/strong> 2023 with the exception of the tax cut, which requires amendments to the tax code that will need to be voted on in the House of Representatives when it is back in session next month.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong> Remember: <\/strong>Inflation accelerated at a record pace in August on the back of ballooning food prices. The urban rate of inflation rose to <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/4679aee6-2384-41d3-b930-cb4678b4e942\" style=\"\" rel=\"noopener\">37.4%<\/a> y-o-y from <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/c9775147-75a5-4479-8f40-f4631fd233be\" style=\"\" rel=\"noopener\">36.5%<\/a> the month before, thanks largely to food and beverage prices soaring 71.4% y-o-y.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong> #2- A 50% expansion at Benban + a new wind farm: <\/strong> Ministers approved an offer submitted by UAE-based AMEA Power to expand the production capacity of the 1.8-GW Benban solar park in Aswan by 1 GW, and to set up a 500-MW wind farm in Ras Ghareb. Enterprise Climate is looking into the project and will report back next week.At an investment cost of about USD 1 bn (or thereabouts) per GW of solar power, this is a big announcement. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong> #3- Golden licenses for\u2026 <\/strong><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong> Gasco: <\/strong>Ministers approved handing the Egyptian Natural Gas Company (GASCO) a golden license for its USD 380 mn project to expand its gas complex in Alexandria. The company wants to add a fourth production line with a capacity of 600 mn cubic feet a day.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong> EgyptSat Auto: <\/strong> Another golden license was granted for <a target=\"_blank\" href=\"https:\/\/egyptsat-auto.com\/\" style=\"\" rel=\"noopener\">EgyptSat Auto\u2019s<\/a> planned EGP 300 mn electric mobility and components factory in the Tenth of Ramadan industrial zone. EgyptSat Auto is a local private sector company that produces electric golf carts. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong> #4- Oil exploration: <\/strong>The cabinet also gave the green light to the oil minister to contract with Russian oil company Lukoil to comb areas in the Western Desert for oil and gas.<\/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\/al-nowais\/\">Al Nowais<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/amea-power\/\">AMEA Power<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/cabinet-watch\/\">cabinet watch<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/economy\/\">economy<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/energy\/\">energy<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/gasco\/\">GASCO<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/lukoil\/\">Lukoil<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/oil-and-gas\/\">oil and gas<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/oil-ministry\/\">Oil Ministry<\/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\/social-welfare\/\">social welfare<\/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=\"606778\" 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=\"606778\">\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\">Manufacturing<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2023\/09\/21\/egypt-to-build-eur-1-bn-tire-factory\/\">\r\n                            Egypt to build EUR 1 bn tire factory                        <\/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\/21\/egypt-to-build-eur-1-bn-tire-factory\/\" 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\/21\/egypt-to-build-eur-1-bn-tire-factory\/')\">\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\/21\/egypt-to-build-eur-1-bn-tire-factory\/\">\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=Egypt to build EUR 1 bn tire factory&url=https:\/\/enterpriseam.com\/egypt\/2023\/09\/21\/egypt-to-build-eur-1-bn-tire-factory\/\">\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\/21\/egypt-to-build-eur-1-bn-tire-factory\/&title=Egypt to build EUR 1 bn tire factory\">\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=Egypt+to+build+EUR+1+bn+tire+factory+https%3A%2F%2Fenterpriseam.com%2Fegypt%2F2023%2F09%2F21%2Fegypt-to-build-eur-1-bn-tire-factory%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\/21\/egypt-to-build-eur-1-bn-tire-factory\/\">\r\n                    <div class=\"photo photo--above\">\r\n                        <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2023\/9\/1346.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"606779\" data-permalink=\"https:\/\/enterpriseam.com\/egypt\/2023\/09\/21\/egypt-to-build-eur-1-bn-tire-factory\/1346-jpg-4\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2023\/9\/1346.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"1346.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2023\/9\/1346.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2023\/9\/1346.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-606778\" class=\"content-area-description single-story post-606778 post type-post status-publish format-standard has-post-thumbnail hentry category-manufacturing tag-automotive tag-enterpriseam tag-investment-watch tag-manufacturing tag-rolling-plus-chemical-industries 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\/.8d937084-c485-461d-ada5-8f8629285bb1.mp3\"><\/audio><\/figure>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"> <strong> Tire money rolls in: <\/strong> Rolling Plus Chemical Industries has signed a contract to establish a EUR 1 bn (c USD 1.1 bn) tire factory in the Ain Sokhna industrial zone, cabinet said in <a target=\"_blank\" href=\"https:\/\/bit.ly\/3ZrP4yt\" style=\"\" rel=\"noopener\">a<\/a> <a target=\"_blank\" href=\"https:\/\/bit.ly\/3ZrP4yt\" style=\"\" rel=\"noopener\">statem<\/a> <a target=\"_blank\" href=\"https:\/\/bit.ly\/3ZrP4yt\" style=\"\" rel=\"noopener\">ent<\/a> yesterday. The plant could create as many as 1k direct and indirect jobs.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong> In detail: <\/strong>The 400k-meter factory will produce some 7 mn tires each year. The first phase, worth EUR 400-450 mn, includes the construction of the factory and production lines to produce 2.5 mn passenger car tires annually, with 50% of the output directed to the local market. The second phase of the project will add production lines to produce 3.5 mn light vehicle tires per year, 40% of which will be sold locally. Production lines for heavy transport vehicle tires will be added in the final phase. The statement did not provide a timeline for the project\u2019s implementation.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong> What\u2019s Rolling Plus? <\/strong>The company\u2019s shareholders include Egyptian, Saudi, and Cypriot companies, <a target=\"_blank\" href=\"https:\/\/www.nasdaq.com\/articles\/egypt-to-establish-tyre-factory-with-1-bln-euro-investment-cabinet\" style=\"\" rel=\"noopener\">Reuters<\/a> reports. Its CEO is John Barakat, according to the cabinet statement. The company has no online footprint that we could find. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong> Concrete Plus? <\/strong> Most of the specs of this factory <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/4f01100d-e22e-494d-b12a-49bc6210bcbf\" style=\"\" rel=\"noopener\">match the one announced by Concrete<\/a> <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/4f01100d-e22e-494d-b12a-49bc6210bcbf\" style=\"\" rel=\"noopener\">Plus<\/a> earlier this year, down to the size, location, the phase one investment amount, and most of the capacity figures. We were unable to confirm whether this is a separate project or whether Rolling Plus is the name of the recently-announced Concrete-Saudi JV. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong> Also involved: <\/strong> Finnish tire consulting firm <a target=\"_blank\" href=\"https:\/\/blackdonuts.com\/\" style=\"\" rel=\"noopener\">Black Donuts<\/a> will act as a technical consultant on the project, the statement reads.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong> Remember: <\/strong>The Madbouly government\u2019s <a target=\"_blank\" href=\"https:\/\/enterprise.press\/issues\/2022\/10\/19\/am-house-of-representatives-passes-automotive-assembly-expat-car-import-bills\/#automotive:~:text=Is%20Egypt%20finally%20getting%20serious%20about%20its%20domestic%20auto%20assembly%20industry%3F\" style=\"\" rel=\"noopener\">automotive strategy<\/a> aims to develop the local car industry in order for Egypt to become a regional manufacturing hub. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong> Read more about our fledgling domestic tire industry <\/strong> \u2014 and the challenges it\u2019s facing \u2014 in our recent Inside Industry two-parter (<a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/f3553e3f-013a-4dc4-877c-7eb93afbaaf0\" style=\"\" rel=\"noopener\">Part I<\/a> | <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/f690219d-16e9-4cc9-9012-22da48774299\" style=\"\" rel=\"noopener\">Part II<\/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\/automotive\/\">automotive<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/investment-watch\/\">investment watch<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/manufacturing\/\">Manufacturing<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/rolling-plus-chemical-industries\/\">Rolling Plus Chemical Industries<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" 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=\"606780\" 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=\"606780\">\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\">Infrastructure<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2023\/09\/21\/ifc-could-lend-usd-125-mn-for-damietta-port-cargo-terminal\/\">\r\n                            IFC could lend USD 125 mn for Damietta Port cargo terminal                        <\/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\/21\/ifc-could-lend-usd-125-mn-for-damietta-port-cargo-terminal\/\" 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\/21\/ifc-could-lend-usd-125-mn-for-damietta-port-cargo-terminal\/')\">\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\/21\/ifc-could-lend-usd-125-mn-for-damietta-port-cargo-terminal\/\">\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=IFC could lend USD 125 mn for Damietta Port cargo terminal&url=https:\/\/enterpriseam.com\/egypt\/2023\/09\/21\/ifc-could-lend-usd-125-mn-for-damietta-port-cargo-terminal\/\">\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\/21\/ifc-could-lend-usd-125-mn-for-damietta-port-cargo-terminal\/&title=IFC could lend USD 125 mn for Damietta Port cargo terminal\">\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=IFC+could+lend+USD+125+mn+for+Damietta+Port+cargo+terminal+https%3A%2F%2Fenterpriseam.com%2Fegypt%2F2023%2F09%2F21%2Fifc-could-lend-usd-125-mn-for-damietta-port-cargo-terminal%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\/21\/ifc-could-lend-usd-125-mn-for-damietta-port-cargo-terminal\/\">\r\n                    <div class=\"photo photo--above\">\r\n                        <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2023\/9\/1360.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"606781\" data-permalink=\"https:\/\/enterpriseam.com\/egypt\/2023\/09\/21\/ifc-could-lend-usd-125-mn-for-damietta-port-cargo-terminal\/1360-jpg-2\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2023\/9\/1360.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"1360.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2023\/9\/1360.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2023\/9\/1360.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-606780\" class=\"content-area-description single-story post-606780 post type-post status-publish format-standard has-post-thumbnail hentry category-infrastructure tag-development-finance tag-enterpriseam tag-infrastructure tag-international-finance-corporation tag-logistics 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\/2024\/3\/.ebb55e6e-3fa5-401c-9359-9bfd6eec34a1.mp3\"><\/audio><\/figure>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"> <strong> We now know how much funding the IFC could extend to Damietta cargo terminal II: <\/strong>Our friends at the<font face=\"Arial\"> <\/font>International Finance Corporation (IFC) are considering extending USD 125 mn loan to Egypt to fund the construction of Damietta Port\u2019s second container terminal, according to the <a target=\"_blank\" href=\"https:\/\/disclosures.ifc.org\/project-detail\/SII\/45868\/damietta-port-ii\" style=\"\" rel=\"noopener\">lender\u2019s website<\/a>. The board is expected to make a final decision on the facility on 30 October.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong> Remember: <\/strong>The funding is part of a <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/4278776a-0cae-4593-86f5-b392cf4a0637\" style=\"\" rel=\"noopener\">USD 455 mn financing package<\/a> involving the IFC, the European Bank for Reconstruction and Development (EBRD), the Asian Infrastructure Investment Bank (AIIB), Deutsche Investitions und Entwicklungsgesellschaft (DEG), and the French Development Agency\u2019s private-sector investment arm Proparco. The AIIB is <a target=\"_blank\" href=\"https:\/\/www.aiib.org\/en\/projects\/details\/2023\/proposed\/Egypt-Damietta-Port-Container-Terminal-II.html\" style=\"\" rel=\"noopener\">chipping in USD 100 mn<\/a>, and EBRD announced funding the project with USD 125 mn last month.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong> Background: <\/strong> A consortium of European companies are working on the project: Hapag-Lloyd, Eurogate Terminals, and Contship Italia signed an agreement with the Damietta Port Authority last year for the USD 665 mn project. The firms will establish the terminal under a 30-year build-operate-transfer framework. The terminal will have a final capacity of 3.3 mn TEUs and is expected to begin operating by 2024, raising the port\u2019s total capacity to 4.7 mn TEU by the third year of its operation.<\/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\/development-finance\/\">development finance<\/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\/international-finance-corporation\/\">International Finance Corporation<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/logistics\/\">logistics<\/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=\"606782\" 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=\"606782\">\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\">Investment Watch<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2023\/09\/21\/pickalbatros-to-invest-usd-140-mn-in-morocco\/\">\r\n                            Egypt-based Pickalbatros Hotels to invest USD 140 mn in Morocco within 2 years                        <\/a>\r\n                    <\/h3>\r\n\r\n                    \r\n\t\t\t\t\t\n<div class=\"cta\">\n    <div class=\"cta__btn share-dropdown-cta dropdown-toggle-btn\" style=\"position:relative\">\n        <img decoding=\"async\" src=\"https:\/\/ent.news\/internal\/408834.svg\" alt=\"\">\n        Share Story\n        <!-- Dropdown Menu -->\n        <ul class=\"share-menu\">\n            <li class=\"list-inline-item\">\n                <a href=\"https:\/\/enterpriseam.com\/egypt\/2023\/09\/21\/pickalbatros-to-invest-usd-140-mn-in-morocco\/\" 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\/21\/pickalbatros-to-invest-usd-140-mn-in-morocco\/')\">\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\/21\/pickalbatros-to-invest-usd-140-mn-in-morocco\/\">\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=Pickalbatros to invest USD 140 mn in Morocco&url=https:\/\/enterpriseam.com\/egypt\/2023\/09\/21\/pickalbatros-to-invest-usd-140-mn-in-morocco\/\">\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\/21\/pickalbatros-to-invest-usd-140-mn-in-morocco\/&title=Pickalbatros to invest USD 140 mn in Morocco\">\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=Pickalbatros+to+invest+USD+140+mn+in+Morocco+https%3A%2F%2Fenterpriseam.com%2Fegypt%2F2023%2F09%2F21%2Fpickalbatros-to-invest-usd-140-mn-in-morocco%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\/21\/pickalbatros-to-invest-usd-140-mn-in-morocco\/\">\r\n                    <div class=\"photo photo--above\">\r\n                        <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2023\/9\/1309.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"606783\" data-permalink=\"https:\/\/enterpriseam.com\/egypt\/2023\/09\/21\/pickalbatros-to-invest-usd-140-mn-in-morocco\/1309-jpg-15\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2023\/9\/1309.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"1309.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2023\/9\/1309.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2023\/9\/1309.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-606782\" class=\"content-area-description single-story post-606782 post type-post status-publish format-standard has-post-thumbnail hentry category-investment-watch tag-enterpriseam tag-hospitality tag-investment-watch tag-morocco tag-pickalbatros 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\/.f62828ce-440b-401c-b0be-c78f23e7a28a.mp3\"><\/audio><\/figure>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"> <strong> Pickalbatros targets Morocco expansion: <\/strong>Egypt-based hotel owner and operator Pickalbatros Hotels & Resorts Group will invest USD 140 mn in Morocco over the next two years, <a target=\"_blank\" href=\"https:\/\/rb.gy\/bhtid\" style=\"\" rel=\"noopener\">Asharq Business<\/a> reports, quoting company CEO and chair Kamel Abou Aly. The company wants to raise its hotel capacity by 43% to 2k rooms, and is eyeing expansion in Agadir in particular, he said. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong> ICYMI- Pickalbatros is expanding here, too: <\/strong>The company\u2019s new <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/4429971b-017b-4efb-805b-755bb2ea9d95\" style=\"\" rel=\"noopener\">200-room<\/a>, EGP 400 mnLaguna Club Hotel in Sharm El Sheikh is due to open in November, while the 840-room Portofino Marsa Alam should also open its doors within the next few months, Abou Aly said last month. The company has also said it will use part of the proceeds from the <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/c62cd0c5-bf3d-4c98-845e-ab6c2e06963b\" style=\"\" rel=\"noopener\">recent EGP 750 mn sale and leaseback<\/a> of its Laguna Vista Beach Resort in Sharm El Sheikh to Beltone to fund expansion. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong> About Pickalbatros: <\/strong> The company runs some <a target=\"_blank\" href=\"https:\/\/pickalbatros.com\/\" style=\"\" rel=\"noopener\">25 hote<\/a> <a target=\"_blank\" href=\"https:\/\/pickalbatros.com\/\" style=\"\" rel=\"noopener\">ls<\/a> with more than 14k rooms in total here, and three hotels with 1.4k rooms in Morocco. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong> Remember: Another industry veteran is making a big play in Morocco. <\/strong>Samih Sawiris is reportedly partnering with local and Emirati players to invest <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/4f2ae5e9-f7b7-4f21-ae00-bc13274cdd7b\" style=\"\" rel=\"noopener\">as much as MAD 4 bn<\/a>(USD 390 mn) to redevelop the Mogador resort in Essaouira. <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/e1c547e5-b294-46e7-987c-6ecde018c876\" style=\"\" rel=\"noopener\">Like Egypt<\/a>, the country is experiencing a boom in tourism as the sector bounces back from the pandemic. <\/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\/hospitality\/\">hospitality<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/investment-watch\/\">investment watch<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/morocco\/\">Morocco<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/pickalbatros\/\">Pickalbatros<\/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=\"606784\" 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=\"606784\">\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\">Energy<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2023\/09\/21\/kufpec-to-acquire-40-of-shell-offshore-block\/\">\r\n                            Shell sells minority stake in offshore block to Kuwait\u2019s Kufpec                        <\/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\/21\/kufpec-to-acquire-40-of-shell-offshore-block\/\" 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\/21\/kufpec-to-acquire-40-of-shell-offshore-block\/')\">\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\/21\/kufpec-to-acquire-40-of-shell-offshore-block\/\">\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=Kufpec to acquire 40% of Shell offshore block&url=https:\/\/enterpriseam.com\/egypt\/2023\/09\/21\/kufpec-to-acquire-40-of-shell-offshore-block\/\">\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\/21\/kufpec-to-acquire-40-of-shell-offshore-block\/&title=Kufpec to acquire 40% of Shell offshore block\">\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=Kufpec+to+acquire+40%25+of+Shell+offshore+block+https%3A%2F%2Fenterpriseam.com%2Fegypt%2F2023%2F09%2F21%2Fkufpec-to-acquire-40-of-shell-offshore-block%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\/21\/kufpec-to-acquire-40-of-shell-offshore-block\/\">\r\n                    <div class=\"photo photo--above\">\r\n                        <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2023\/9\/1324.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"606785\" data-permalink=\"https:\/\/enterpriseam.com\/egypt\/2023\/09\/21\/kufpec-to-acquire-40-of-shell-offshore-block\/1324-jpg-2\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2023\/9\/1324.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"1324.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2023\/9\/1324.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2023\/9\/1324.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-606784\" class=\"content-area-description single-story post-606784 post type-post status-publish format-standard has-post-thumbnail hentry category-energy tag-energy tag-enterpriseam tag-investment-watch tag-kufpec tag-kuwait tag-oil-and-gas tag-shell 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\/.228addf5-a966-4aec-a5a0-7cb95e7e038c.mp3\"><\/audio><\/figure>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"> <strong> Kufpec gets a slice of Shell\u2019s Mediterranean block: <\/strong>Kuwait Foreign Petroleum Exploration Company (Kufpec) will acquire a 40% stake in Shell\u2019s North East El Amriya concession area \u2014 also known as Block 3 \u2013 in the Mediterranean Sea, the companies said in <a target=\"_blank\" href=\"https:\/\/www.kufpec.com\/en\/publications\/news-and-events\/2023\/kufpec-enters-a-new-partnership-with-shell-in-egyp\" style=\"\" rel=\"noopener\">a joint<\/a> <a target=\"_blank\" href=\"https:\/\/www.kufpec.com\/en\/publications\/news-and-events\/2023\/kufpec-enters-a-new-partnership-with-shell-in-egyp\" style=\"\" rel=\"noopener\">statement<\/a> on Wednesday. The farm out agreement is pending approval from the government and regulators, the company said. It did not disclose the value of the stake. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong> No changes on the ground: <\/strong>Shell, via its BG International subsidiary, will remain the operator of the block. The company has owned and operated the concession since it <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/a3eb0e0b-08be-4be3-8313-8ac638d3c02c\" style=\"\" rel=\"noopener\">acquired<\/a> it in full from ExxonMobil last year.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong> SOUND SMART- <\/strong> A farm out agreement is when a company which owns the right to explore (or produce) oil or gas lets another party do the actual work. Company A might have the right to explore gas, but not the money or interest in doing so. Under a farm out agreement, Company A assigns its rights to Company B in exchange for an up-front payment, plus a royalty, cut of sales or percentage of earnings. Company B would also have to meet specific targets or spending requirements. Farm out agreements are common in the oil, gas and mining industries.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong> What they said: <\/strong>\u201cWe are glad to expand our presence in Egypt in cooperation with our international operating partners in highly prolific exploration basins\u2026 This new partnership in Block 3 empowers Kufpec to boost its offshore assets and exploration activities in Egypt,\u201d company CEO Mohammad Salem Al Haimer said in the statement. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong> Kufpec is already active in the region<\/strong>: Kufpec holds a 40% working interest in the Geisum and Tawila West concession in the Gulf of Suez, where majority owner Cheiron made a new discovery <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/fc7c3428-e05a-4f0f-9d09-acd66bdd77a5\" style=\"\" rel=\"noopener\">last month<\/a>. The Kuwaiti company also gained a <a target=\"_blank\" href=\"https:\/\/www.kufpec.com\/en\/publications\/news-and-events\/2021\/Exploration-and-Production-Agreement-with-EGAS\" style=\"\" rel=\"noopener\">25% participating interest<\/a> in the North Ras Kanayes offshore block in the Mediterranean in 2020. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong> Drilling has begun: <\/strong>Shell and its partners began drilling three new gas exploration wells at Amriya and the adjacent North Sidi Gaber concession last month, according to the Kufpec statement. Shell is spending more than USD 200 mn to pump another 200 mn cubic feet of gas per day from three new wells at its offshore West Delta Deep Marine (WDDM) development lease, it <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/a3d0b10b-f5c1-4dd3-a734-4f2dffed210a\" style=\"\" rel=\"noopener\">said in July<\/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\/energy\/\">energy<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/investment-watch\/\">investment watch<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/kufpec\/\">Kufpec<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/kuwait\/\">Kuwait<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/oil-and-gas\/\">oil and gas<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/shell\/\">Shell<\/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=\"606786\" 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=\"606786\">\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\">Transport<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2023\/09\/21\/cairo-alex-freight-rail-bypass-tender-to-launch-in-1q-2024\/\">\r\n                            Egypt to launch tender for Cairo-Alex freight rail bypass in 1Q 2024                        <\/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 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href=\"https:\/\/www.facebook.com\/sharer.php?u=https:\/\/enterpriseam.com\/egypt\/2023\/09\/21\/cairo-alex-freight-rail-bypass-tender-to-launch-in-1q-2024\/\">\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=Cairo-Alex freight rail bypass tender to launch in 1Q 2024&url=https:\/\/enterpriseam.com\/egypt\/2023\/09\/21\/cairo-alex-freight-rail-bypass-tender-to-launch-in-1q-2024\/\">\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\/21\/cairo-alex-freight-rail-bypass-tender-to-launch-in-1q-2024\/&title=Cairo-Alex freight rail bypass tender to launch in 1Q 2024\">\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=Cairo-Alex+freight+rail+bypass+tender+to+launch+in+1Q+2024+https%3A%2F%2Fenterpriseam.com%2Fegypt%2F2023%2F09%2F21%2Fcairo-alex-freight-rail-bypass-tender-to-launch-in-1q-2024%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\/21\/cairo-alex-freight-rail-bypass-tender-to-launch-in-1q-2024\/\">\r\n                    <div class=\"photo photo--above\">\r\n                        <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2023\/9\/1343.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"606787\" data-permalink=\"https:\/\/enterpriseam.com\/egypt\/2023\/09\/21\/cairo-alex-freight-rail-bypass-tender-to-launch-in-1q-2024\/1343-jpg-3\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2023\/9\/1343.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"1343.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2023\/9\/1343.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2023\/9\/1343.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-606786\" class=\"content-area-description single-story post-606786 post type-post status-publish format-standard has-post-thumbnail hentry category-transport tag-egyptian-national-railways tag-enterpriseam tag-infrastructure tag-railways tag-transport tag-transport-ministry 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\/.d757fd44-ef8e-484e-bfdf-ed8b5ed1658c.mp3\"><\/audio><\/figure>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"> <strong> The race for the contract to build the Cairo-Alex freight rail link starts soon: <\/strong>The Transport Ministry is gearing up to launch a tender for the planned <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/a3909daf-3c48-4041-939d-1a361defdb86\" style=\"\" rel=\"noopener\">Cairo-Alex<\/a> <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/a3909daf-3c48-4041-939d-1a361defdb86\" style=\"\" rel=\"noopener\">andria freight railway<\/a> <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/a3909daf-3c48-4041-939d-1a361defdb86\" style=\"\" rel=\"noopener\">bypass<\/a> in 1Q 2024, a ministry source told Enterprise, confirming a report by <a target=\"_blank\" href=\"https:\/\/bitly.ws\/Vefv\" style=\"\" rel=\"noopener\">A<\/a> <a target=\"_blank\" href=\"https:\/\/bitly.ws\/Vefv\" style=\"\" rel=\"noopener\">l M<\/a> <a target=\"_blank\" href=\"https:\/\/bitly.ws\/Vefv\" style=\"\" rel=\"noopener\">al<\/a>. So far, some 11 consortiums of both Egyptian and global companies have qualified for the tender, the source said. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong> The timeline: <\/strong> The ministry will announce the qualified firms later this year and award the contract in April, sources reportedly told Al Mal. Our source could not confirm the timeline for the awarding of the contract. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong> Interested candidates: <\/strong> Initially, Petrojet, Arab Contractors, Hassan Allam, Concord, and Orascom Construction all expressed their interest in the USD 740 mn project. However, the Egyptian National Railways opted for a public qualification tender, followed by a tender that\u2019s exclusive to the qualified bidders, Al Mal reported. We were unable to reach representatives of the companies to confirm their interest.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong> World Bank backing: <\/strong> The World Bank already approved a USD 400 mn loan for the project back in 2022. The remaining costs are expected to be covered through local sources, although the precise amount is still subject to adjustments, according to our source. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong> Refresher: <\/strong>The bypass will allow freight trains to travel to and from the Port of Alexandria and the newly-constructed Sixth of October dry port via an alternative western route of Greater Cairo that avoids the congested Greater Cairo-Sixth of October rail corridor. The bypass will be able to handle 15 container trains per day by 2030 and up to 50 trains by 2060.The project is supposed to boost the transport and logistics sector as well as help the country move towards a low-carbon railway system. <\/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\/egyptian-national-railways\/\">Egyptian National Railways<\/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\/railways\/\">railways<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/transport\/\">transport<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/transport-ministry\/\">Transport Ministry<\/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=\"606788\" 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=\"606788\">\r\n            \r\n                <div class=\"issue-story-header text-center\">\r\n                    <div class=\"index-number\">8<\/div>\r\n\r\n                    <p class=\"f-graphik\">Moves<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2023\/09\/21\/hisham-badr-appointed-assistant-planning-minister\/\">\r\n                            Hisham Badr appointed assistant planning minister                        <\/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\/21\/hisham-badr-appointed-assistant-planning-minister\/\" 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\/21\/hisham-badr-appointed-assistant-planning-minister\/')\">\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\/21\/hisham-badr-appointed-assistant-planning-minister\/\">\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=Hisham Badr appointed assistant planning minister&url=https:\/\/enterpriseam.com\/egypt\/2023\/09\/21\/hisham-badr-appointed-assistant-planning-minister\/\">\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\/21\/hisham-badr-appointed-assistant-planning-minister\/&title=Hisham Badr appointed assistant planning minister\">\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=Hisham+Badr+appointed+assistant+planning+minister+https%3A%2F%2Fenterpriseam.com%2Fegypt%2F2023%2F09%2F21%2Fhisham-badr-appointed-assistant-planning-minister%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\/21\/hisham-badr-appointed-assistant-planning-minister\/\">\r\n                    <div class=\"photo photo--above\">\r\n                        <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2023\/9\/1348.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"606789\" data-permalink=\"https:\/\/enterpriseam.com\/egypt\/2023\/09\/21\/hisham-badr-appointed-assistant-planning-minister\/1348-jpg-4\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2023\/9\/1348.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"1348.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2023\/9\/1348.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2023\/9\/1348.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-606788\" class=\"content-area-description single-story post-606788 post type-post status-publish format-standard has-post-thumbnail hentry category-moves tag-enterpriseam tag-hala-el-said tag-hisham-badr tag-moves tag-planning-ministry 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\/.66339373-fb9e-4261-a21c-4688859b11d7.mp3\"><\/audio><\/figure>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong> Hala El Said names Hisham Badr assistant minister: <\/strong> Planning Minister Hala El Said has appointed former ambassador Hisham Badr as the new assistant minister for strategic partnerships, the ministry said in <a target=\"_blank\" href=\"https:\/\/bit.ly\/3Rx0BKW\" style=\"\" rel=\"noopener\">a statement<\/a> yesterday. Badr is one of Egypt\u2019s top diplomats, having served as the ambassador to Italy and Japan, and an assistant foreign minister. He also chaired the executive committee of the UN\u2019s refugee agency and headed the balance of payments restrictions committee at the World Trade Organization.<\/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\/hala-el-said\/\">Hala El Said<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/hisham-badr\/\">Hisham Badr<\/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                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/planning-ministry\/\">Planning Ministry<\/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=\"606790 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=\"606790\">\r\n            \r\n            <div class=\"story__body\">\r\n\r\n                <a href=\"https:\/\/enterpriseam.com\/egypt\/2023\/09\/21\/606790\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-606790\" class=\"content-area-description single-story post-606790 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=\"606791\" 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=\"606791\">\r\n            \r\n                <div class=\"issue-story-header text-center\">\r\n                    <div class=\"index-number\">9<\/div>\r\n\r\n                    <p class=\"f-graphik\">LAST NIGHT\u2019S TALK SHOWS<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2023\/09\/21\/the-national-elections-authority-presser-sczone-action-get-airtime\/\">\r\n                            The National Elections Authority press conference and SCZone action get airtime                        <\/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\/21\/the-national-elections-authority-presser-sczone-action-get-airtime\/\" 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\/21\/the-national-elections-authority-presser-sczone-action-get-airtime\/')\">\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\/21\/the-national-elections-authority-presser-sczone-action-get-airtime\/\">\n                    Facebook                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/facebook-icon2.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a target=\"_blank\" href=\"https:\/\/x.com\/intent\/post?text=The National Elections Authority presser, SCZone action get airtime&url=https:\/\/enterpriseam.com\/egypt\/2023\/09\/21\/the-national-elections-authority-presser-sczone-action-get-airtime\/\">\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\/21\/the-national-elections-authority-presser-sczone-action-get-airtime\/&title=The National Elections Authority presser, SCZone action get airtime\">\n                    LinkedIn                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/linkedin-icon.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a href=\"https:\/\/api.whatsapp.com\/send?text=The+National+Elections+Authority+presser%2C+SCZone+action+get+airtime+https%3A%2F%2Fenterpriseam.com%2Fegypt%2F2023%2F09%2F21%2Fthe-national-elections-authority-presser-sczone-action-get-airtime%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\/21\/the-national-elections-authority-presser-sczone-action-get-airtime\/\">\r\n                    <div class=\"photo photo--above\">\r\n                        <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2023\/9\/1358.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"606792\" data-permalink=\"https:\/\/enterpriseam.com\/egypt\/2023\/09\/21\/the-national-elections-authority-presser-sczone-action-get-airtime\/1358-jpg-4\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2023\/9\/1358.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"1358.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2023\/9\/1358.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2023\/9\/1358.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-606791\" class=\"content-area-description single-story post-606791 post type-post status-publish format-standard has-post-thumbnail hentry category-last-nights-talk-shows tag-election-2024 tag-enterpriseam tag-last-nights-talk-shows tag-politics 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\/.0e6dff3a-4417-4488-b187-455530ca6974.mp3\"><\/audio><\/figure>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong> It was a slow night for business news on the talk shows last night<\/strong>, with yesterday\u2019s press conference by the National Elections Authority taking up the bulk of the airtime. Al Hayah Al Youm\u2019s Mohamed Sherdy was especially eager to pore over each and every detail, dedicating the entirety of his 80-minute show to the subject. Masaa DMC (<a target=\"_blank\" href=\"https:\/\/www.youtube.com\/watch?v=_viRF43Meik\" style=\"\" rel=\"noopener\">watch, runtime: 3:49<\/a>) and Ala Masouleety (<a target=\"_blank\" href=\"https:\/\/www.youtube.com\/watch?v=yTVLvEbJ14c\" style=\"\" rel=\"noopener\">watch, runtime: 4:14<\/a>) also had coverage.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong> Is the India-Middle East trade route a threat to the canal? \u201cMeh,\u201d said Transport Minister <\/strong><strong> Kamal El Wazir<\/strong>, expressing confidence to Ala Masouleety show host Ahmed Moussa that \u201cnothing will be an alternative to the Suez Canal\u201d (<a target=\"_blank\" href=\"https:\/\/www.youtube.com\/watch?v=cysp_6V7XSA\" style=\"\" rel=\"noopener\">watch, runtime: 4:31<\/a>).<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong> Remember: <\/strong> The US is backing a major new trade route linking South Asia, the Middle East and Europe. New ports and railways will ship goods between India and Europe via Saudi Arabia, the UAE and Israel under an MoU signed at the recent G20 summit. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong> Also on the airwaves: <\/strong> Masaa DMC\u2019s Eman El Hosary discussed the new USD 1 bn tire factory being set up in the Suez Canal Economic Zone (SCZone), and SCZone head Walid Gamal El Din\u2019s trip to Amsterdam (watch runtime: <a target=\"_blank\" href=\"https:\/\/www.youtube.com\/watch?v=7MvZ050UwRw\" style=\"\" rel=\"noopener\">7:20<\/a> | <a target=\"_blank\" href=\"https:\/\/www.youtube.com\/watch?v=G6199If1xU4\" style=\"\" rel=\"noopener\">1:15<\/a>). We have more on both these stories in this morning\u2019s news well and Also on our Radar.<\/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\/election-2024\/\">Election 2024<\/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\/politics\/\">politics<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                    <\/div>\n    <\/div>\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    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class=\"issue-story-header text-center\">\r\n                    <div class=\"index-number\">10<\/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\/21\/ancient-egyptian-treasures-are-headed-down-under\/\">\r\n                            Ancient Egyptian treasures are headed to Australia                        <\/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 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src=\"https:\/\/i0.wp.com\/ent.news\/2023\/9\/1312.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"606795\" data-permalink=\"https:\/\/enterpriseam.com\/egypt\/2023\/09\/21\/ancient-egyptian-treasures-are-headed-down-under\/1312-jpg-10\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2023\/9\/1312.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"1312.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2023\/9\/1312.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2023\/9\/1312.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-606794\" class=\"content-area-description single-story post-606794 post type-post status-publish format-standard has-post-thumbnail hentry category-egypt-in-the-news tag-ancient-egypt tag-enterpriseam 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\/.882c6080-604a-4e58-8298-da6929a245b4.mp3\"><\/audio><\/figure>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong> It\u2019s a mixed bag in the foreign press this morning: <\/strong><a target=\"_blank\" href=\"https:\/\/www.theguardian.com\/culture\/2023\/sep\/20\/national-gallery-victoria-pharaoh-exhibition-egypt-2024-winter-masterpieces\" style=\"\" rel=\"noopener\">The Guardian<\/a> reports that Melbourne\u2019s National Gallery of Victoria will borrow over 500 ancient Egyptian artifacts from the British Museum\u2019s permanent collection for a landmark exhibition opening next June. The international loan is the largest ever by the London museum, and comes amid controversy over its refusal to return artifacts to their countries of origin.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong> ALSO- <\/strong><strong><a target=\"_blank\" href=\"https:\/\/www.imdb.com\/title\/tt27721079\/\" style=\"\" rel=\"noopener\">Voy, Voy, Voy<\/a><\/strong><strong> goes for Oscars glory <\/strong><strong> : <\/strong> Egypt has selected the comedy from director Omar Hilal as its candidate for best international feature film at the 2024 Academy Awards. (<a target=\"_blank\" href=\"https:\/\/deadline.com\/2023\/09\/oscars-egypt-comedy-voy-voy-voy-best-international-feature-film-1235551107\/\" style=\"\" rel=\"noopener\">Deadline<\/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\/ancient-egypt\/\">Ancient 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=\"606796\" class=\"issue-section \">\n<div class=\"issue-section__content\">\n<div class=\"stories\">    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"606797\" 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=\"606797\">\r\n            \r\n                <div class=\"issue-story-header text-center\">\r\n                    <div class=\"index-number\">11<\/div>\r\n\r\n                    <p class=\"f-graphik\">Also on our Radar<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2023\/09\/21\/infinity-to-charge-bmw-evs-in-egypt-plus-africa-tariff-cuts-ratified-onion-export-ban-another-wheat-buy-and-a-west-cairo-brt-could-be-in-the-making\/\">\r\n                            Infinity to charge BMW EVs in Egypt. PLUS: Africa tariff cuts ratified, onion export ban, another wheat buy, and a West Cairo BRT could be in the making.                        <\/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\/21\/infinity-to-charge-bmw-evs-in-egypt-plus-africa-tariff-cuts-ratified-onion-export-ban-another-wheat-buy-and-a-west-cairo-brt-could-be-in-the-making\/\" 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\/21\/infinity-to-charge-bmw-evs-in-egypt-plus-africa-tariff-cuts-ratified-onion-export-ban-another-wheat-buy-and-a-west-cairo-brt-could-be-in-the-making\/')\">\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\/21\/infinity-to-charge-bmw-evs-in-egypt-plus-africa-tariff-cuts-ratified-onion-export-ban-another-wheat-buy-and-a-west-cairo-brt-could-be-in-the-making\/\">\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=Infinity to charge BMW EVs in Egypt. 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PLUS: Africa tariff cuts ratified, onion export ban, another wheat buy, and a West Cairo BRT could be in the making.\">\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=Infinity+to+charge+BMW+EVs+in+Egypt.+PLUS%3A+Africa+tariff+cuts+ratified%2C+onion+export+ban%2C+another+wheat+buy%2C+and+a+West+Cairo+BRT+could+be+in+the+making.+https%3A%2F%2Fenterpriseam.com%2Fegypt%2F2023%2F09%2F21%2Finfinity-to-charge-bmw-evs-in-egypt-plus-africa-tariff-cuts-ratified-onion-export-ban-another-wheat-buy-and-a-west-cairo-brt-could-be-in-the-making%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\/21\/infinity-to-charge-bmw-evs-in-egypt-plus-africa-tariff-cuts-ratified-onion-export-ban-another-wheat-buy-and-a-west-cairo-brt-could-be-in-the-making\/\">\r\n                    <div class=\"photo photo--above\">\r\n                        <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2023\/9\/1356.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"606798\" data-permalink=\"https:\/\/enterpriseam.com\/egypt\/2023\/09\/21\/infinity-to-charge-bmw-evs-in-egypt-plus-africa-tariff-cuts-ratified-onion-export-ban-another-wheat-buy-and-a-west-cairo-brt-could-be-in-the-making\/1356-jpg-6\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2023\/9\/1356.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"1356.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2023\/9\/1356.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2023\/9\/1356.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-606797\" class=\"content-area-description single-story post-606797 post type-post status-publish format-standard has-post-thumbnail hentry category-also-on-our-radar tag-al-ahly-sabbour tag-also-on-our-radar tag-automotive tag-bmw tag-bunkering tag-cira-education tag-commodities tag-customs tag-education tag-energy tag-enterpriseam tag-financial-regulatory-authority tag-gafi tag-gasc tag-global-auto-group tag-green-methanol tag-hospitality tag-infinity tag-ma-watch tag-maersk tag-new-urban-communities-authority tag-oil-and-gas tag-real-estate tag-sagard tag-shell tag-suez-canal-economic-zone tag-tourism tag-trade tag-transport tag-wheat 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\/.0e16f3a5-ca85-4280-9ec0-720edc849888.mp3\"><\/audio><\/figure>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong> AUTOMOTIVE- <\/strong><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong> Infinity to charge BMW EVs: <\/strong> Global Auto Group, BMW\u2019s agent and importer in Egypt, signed a strategic partnership agreement with our friends at Infinity to charge electric BMWs at its charging stations, the companies said in <a target=\"_blank\" href=\"https:\/\/ent.news\/2023\/9\/1339.pdf\" style=\"\" rel=\"noopener\">a joint statement (pdf)<\/a> yesterday.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong> Remember: <\/strong> Infinity is planning to <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/4376c407-e64d-4210-82ce-321f31931c68\" style=\"\" rel=\"noopener\">increase the number of charging stations<\/a> to 300 and charging points to 1k by next year. This is part of a plan with the government to <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/e2dd65fe-9507-4ee7-90cc-f2e4a53a5da5\" style=\"\" rel=\"noopener\">set up 3k stations<\/a> across the country.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong> TRADE- <\/strong><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong> #1- <\/strong><strong> El Sisi signs off on customs breaks for intra-African trade: <\/strong>A presidential decree ratifying the bill for Egypt\u2019s membership in the <a target=\"_blank\" href=\"https:\/\/au-afcfta.org\/\" style=\"\" rel=\"noopener\">African Continental Freetrade Area<\/a>(AfCFTA) agreement was published in the Official Gazette last week, bringing the customs breaks under the agreement into effect. The House of Representatives in June <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/cd1ae145-a71e-433a-af42-87f0f373cf25\" style=\"\" rel=\"noopener\">a<\/a> <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/cd1ae145-a71e-433a-af42-87f0f373cf25\" style=\"\" rel=\"noopener\">pproved a<\/a> <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/cd1ae145-a71e-433a-af42-87f0f373cf25\" style=\"\" rel=\"noopener\">bill<\/a> ratifying the customs reductions under AfCFTA. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong> FYI- <\/strong> Countries that have ratified the trade agreement have committed to eliminating tariffs on 90% of tariff lines over five years (10 years for low-income countries).<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong> #2- <\/strong><strong> A three-month onion export ban: <\/strong> Ministers yesterday approved halting onion exports until the end of the year in a bid to curb soaring prices, the cabinet said in <a target=\"_blank\" href=\"https:\/\/bit.ly\/45ZNiHj\" style=\"\" rel=\"noopener\">a statement<\/a>. The price per kilo has <a target=\"_blank\" href=\"https:\/\/www.elbalad.news\/5927666\" style=\"\" rel=\"noopener\">surged to EGP 35<\/a> in recent days, part of a wave of record-high inflation triggered by several currency devaluations and a prolonged shortage of FX. Food prices accelerated at a record rate of <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/4679aee6-2384-41d3-b930-cb4678b4e942\" style=\"\" rel=\"noopener\">71.4%<\/a> y-o-y in August.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong> TRANSPORT- <\/strong><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong> West Cairo BRT? <\/strong> The Institute for Transportation and Development Policy has signed a consultancy agreement with the New Urban Communities Authority to advise on implementing a bus rapid transit (BRT) system between Sixth of October City and parts of Giza governorate, the Housing Ministry <a target=\"_blank\" href=\"https:\/\/bit.ly\/3RuhG8b\" style=\"\" rel=\"noopener\">said<\/a> Tuesday. The International Swedish Fund awarded the USD 450k grant for the consulting service on the transportation project, according to <a target=\"_blank\" href=\"https:\/\/bit.ly\/44ULgah\" style=\"\" rel=\"noopener\">Ahram Online<\/a>. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong> FYI- <\/strong> The Ring Road <a target=\"_blank\" href=\"https:\/\/enterprise.press\/hardhats\/cairos-ring-road-isnt-just-getting-wider-its-getting-a-brt-lane-heres-why-thats-a-great-idea\/\" style=\"\" rel=\"noopener\">BRT system<\/a>, which <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/c48aedde-b2c6-4e40-b86f-3900beb3698f\" style=\"\" rel=\"noopener\">broke ground<\/a> last year, is aimed at reducing traffic on the congested freeway.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong> COMMODITIES\u2013 <\/strong><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong> #1- More Romanian wheat: <\/strong>GASC has purchased 120k tons of Romanian wheat in a tender, <a target=\"_blank\" href=\"https:\/\/www.nasdaq.com\/articles\/egypts-gasc-buys-120000-tons-of-romanian-wheat-in-tender\" style=\"\" rel=\"noopener\">Reuters<\/a> reports. The state grains buyer agreed to pay USD 272 per ton on a cost and freight basis, according to the newswire.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong> #2- GASC\u2019s big Russian wheat buy will now come from France + Bulgaria: <\/strong>The <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/fc24a4db-347e-4888-b4d6-4b3c0d2547fd\" style=\"\" rel=\"noopener\">480k-ton<\/a> <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/fc24a4db-347e-4888-b4d6-4b3c0d2547fd\" style=\"\" rel=\"noopener\">shipment<\/a> of wheat that state grain buyer GASC agreed to buy from a Russian commodity trader will be sourced from Bulgaria and France, <a target=\"_blank\" href=\"https:\/\/www.bloomberg.com\/news\/articles\/2023-09-20\/egypt-swaps-out-russian-wheat-after-moscow-objects-to-pricing\" style=\"\" rel=\"noopener\">Bloomberg<\/a> reports, citing people it says are in the know. The Supply Ministry earlier this month <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/e665bf8c-5176-4dd5-ba3f-36db09011ff3\" style=\"\" rel=\"noopener\">tweaked its purchase agreement<\/a> with trader Solaris, allowing it to source the grain \u2014 which had initially been set to come from Russian sources \u2014 from any origin. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong> Russia\u2019s wheat price floor appears to be the obstacle: <\/strong>Moscow reportedly objected to the price Solaris offered for the Russian grain \u2014 USD 270 per ton including freight \u2014 because it was lower than an unofficial price floor that the Russian government is currently enforcing. While the wheat floor is not legally binding and there\u2019s been a lack of consensus about where exactly it stands from month to month, traders are expected to adhere to it.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong> M&A WATCH- <\/strong><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong> B Investments needs more time to acquire OFH: <\/strong> The Financial Regulatory Authority (FRA) has approved a request by EGX-listed private equity firm B Investments to extend the deadline for submitting its mandatory tender offer (MTO) to acquire up to 90% of Orascom Financial Holding, it said in <a target=\"_blank\" href=\"https:\/\/ent.news\/2023\/9\/1342.pdf\" style=\"\" rel=\"noopener\">a statement (pdf)<\/a> to the bourse yesterday. The regulator has extended the deadline by 60 working days, giving it until the middle of December to file the MTO. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong> Remember: <\/strong> B Investments <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/2e645d45-8b1e-4b12-b031-fddc5eb16c1a\" style=\"\" rel=\"noopener\">approved in June plans to submit an MTO<\/a> to acquire up to 90% of Orascom Financial Holding via a share swap agreement. OFH\u2019s majority shareholder OTMT Acquisition and minority shareholder Orascom TMT Investments have agreed to sell their combined 51.72% stake in the company.<\/p>\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> SCZone talks green fuel, LNG bunkering in Amsterdam: <\/strong> The Suez Canal Economic Zone (SCZone) head Walid Gamal El Din was in Amsterdam over the week for talks with global maritime and port green energy industry leaders on Egypt\u2019s green hydrogen projects, according to a <a target=\"_blank\" href=\"https:\/\/bit.ly\/3PLogWR\" style=\"\" rel=\"noopener\">SCZone statement<\/a>. He talked with <strong> Shell <\/strong> executives about introducing LNG and green methanol bunkering in Egypt, and held discussions with Danish shipping giant <strong> Maersk <\/strong> about its work to expand the East Port Said port.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong> Remember: <\/strong><\/p>\n<ul>\n<li><strong> Maersk\u2019s <\/strong><strong> Suez Canal Container Terminal <\/strong> is leading the <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/458ecb73-0cc1-4a59-8962-eacb4602b09d\" style=\"\" rel=\"noopener\">USD 500 mn expansion of<\/a> <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/458ecb73-0cc1-4a59-8962-eacb4602b09d\" style=\"\" rel=\"noopener\">East Port Said port<\/a>. The company is constructing a second container terminal that is expected to raise the port\u2019s capacity by 40%.<\/li>\n<li><strong> The shipping giant <\/strong>is also planning on making the Suez Canal one of its hubs for producing green methanol. It recently <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/8706955f-69de-4235-b9ab-6c6875cfa7c2\" style=\"\" rel=\"noopener\">established a new company<\/a> that will be in charge of manufacturing the chemical, and is thought to be in pole position to <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/4eb701a2-df5b-4e8c-9b58-d95b6c135bee\" style=\"\" rel=\"noopener\">acquire half of the Zafarana wind farm<\/a> to power its facilities.<\/li>\n<li><strong> Shell <\/strong> was among a number of companies that <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/e3a57c3e-5821-45fd-91e3-015380f3d3aa\" style=\"\" rel=\"noopener\">signed a letter of intent<\/a> with EGAS last year to explore LNG bunkering in Egypt. <\/li>\n<\/ul>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong> Czech firms interested in green hydrogen: <\/strong> A Czech delegation led by the Czech ambassador to Egypt met with Gamal yesterday to talk about cooperation over green hydrogen projects, among other industry and service sectors, the SCZone <a target=\"_blank\" href=\"https:\/\/bit.ly\/3PsgteX\" style=\"\" rel=\"noopener\">said<\/a> separately.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong> REAL ESTATE- <\/strong><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong> #1- Al Ahly Sabbour has its eye on KSA: <\/strong>Real estate developer Al Ahly Sabbour is at the final stages in setting up a presence in Saudi Arabia, Al Ahly Sabbour Chairman and Managing DirectorAhmed Sabbour told <a target=\"_blank\" href=\"https:\/\/twitter.com\/AsharqbEGY\/status\/1704495659380859062?s=20\" style=\"\" rel=\"noopener\">Asharq Business<\/a>. He added that the developer inked a cooperation agreement with Saudi\u2019s National Housing Services Company to set up a real estate project in Riyadh, the details of which were not disclosed. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong> #2- GAFI + FRA to amend real estate fund law: <\/strong> The General Authority for Investment and Freezones (GAFI) and the Financial Regulatory Authority are reportedly mulling changes to real estate fund law, aimed at encouraging the launch of more real estate funds, write <a target=\"_blank\" href=\"https:\/\/www.alborsaanews.com\/2023\/09\/20\/1715314\" style=\"\" rel=\"noopener\">Al Borsa<\/a>.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong> EDUCATION- <\/strong><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong> CIRA Education hits record for net annual student enrolment: <\/strong>CIRA Education saw a net increase in enrolment numbers of around 5k students across its facilities for the 2023-2024 academic year \u2014 25% more than its previous annual record, the company said in its latest <a target=\"_blank\" href=\"https:\/\/ent.news\/2023\/9\/1307.pdf\" style=\"\" rel=\"noopener\">admissions report (pdf)<\/a>. The education provider admitted some 11k new students in total across its two universities and 27 schools. Of the new intake, some 3.5k students came from the higher education segment, while the remaining 1.5k came from the K-12 segment, the report said. <\/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\/al-ahly-sabbour\/\">Al Ahly Sabbour<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/also-on-our-radar\/\">ALSO ON OUR RADAR<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/automotive\/\">automotive<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" 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<!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/energy\/\">energy<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/financial-regulatory-authority\/\">Financial Regulatory Authority<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/gafi\/\">GAFI<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/gasc\/\">GASC<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/global-auto-group\/\">Global Auto Group<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n             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     <\/a>\r\n\r\n                \n<article id=\"post-606799\" class=\"content-area-description single-story post-606799 post type-post status-publish format-standard has-post-thumbnail hentry category-planet-finance tag-enterpriseam tag-federal-reserve tag-financial-markets tag-hedge-funds tag-planet-finance tag-treasuries tag-uk tag-us 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\/.223a5747-4377-4793-9863-8b71ede4633c.mp3\"><\/audio><\/figure><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"> <strong> US interest rates will be higher for longer: <\/strong>The US Federal Reserve decided to leave interest rates unchanged but signaled that policy will remain tight for longer amid the continuing strength of the economy, it <a target=\"_blank\" href=\"https:\/\/www.federalreserve.gov\/newsevents\/pressreleases\/monetary20230920a.htm\" style=\"\" rel=\"noopener\">announced<\/a> following its two-day policy meeting yesterday. Most Fed officials expect to need to lift its benchmark rate by another 25 bps to 5.5%-5.75% this year, though Fed chair Jerome Powell made sure to emphasize that the central bank will \u201cproceed carefully\u201d with any further hikes. The meeting came on the heels of August data that showed inflation picking up again, raising expectations in some quarters that rates may need to move higher than currently though, especially in light of the recent surge in oil prices.<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong> The markets weren\u2019t happy: <\/strong> US stocks fell sharply following the post-meeting presser, with the Nasdaq losing 1.5% and the S&amp;P down almost 1.0%. Asian markets are also in the red this morning, while equity futures in the US and Europe are signaling further losses today.<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong> The Bank of England is up next: <\/strong> The UK\u2019s headline inflation rate unexpectedly fell in August, dropping 0.1 percentage points to 6.7% and causing the GBP to fall to its lowest rate against the USD since May. The data has raised expectations that the Bank of England could keep rates on hold when it meets today. (<a target=\"_blank\" href=\"https:\/\/www.reuters.com\/world\/uk\/uk-inflation-rate-unexpectedly-falls-67-august-2023-09-20\/\" style=\"\" rel=\"noopener\">Reuters<\/a> | <a target=\"_blank\" href=\"https:\/\/www.ft.com\/content\/ebf01666-07b0-41a4-b816-060f76d8a954\" style=\"\" rel=\"noopener\">Financial Times<\/a>)<\/p><p><a target=\"_blank\" id=\"t.009b8367a0126525f1c8bb03144853def8176838\" 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\">19,797<\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">-0.8% (YTD: +35.6%)<\/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\">11,062<\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">-0.1% (YTD: +5.6%)<\/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> 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\">9,823<\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">0.0% (YTD: -3.8%)<\/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> 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\">4,138<\/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\">+1.6% (YTD: +24.1%)<\/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\">4,402<\/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\">-0.9% (YTD: +14.7%)<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-up\">\n<td class=\"td-list-up\">\n<p><svg class=\"e-icon e-TypeMarkets11\"><use xlink:href=\"#e-TypeMarkets11\"><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong> 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\">7,732<\/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\">+0.9% (YTD: +3.8%)<\/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> 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\">4,276<\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">+0.8% (YTD: +12.7%)<\/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> 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 93.18<\/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\">-1.2%<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-down\">\n<td class=\"td-list-down\">\n<p><svg class=\"e-icon e-TypeMarkets1\"><use xlink:href=\"#e-TypeMarkets1\"><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong> 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 2.74  <\/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\">-3.9%<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-down\">\n<td class=\"td-list-down\">\n<p><svg class=\"e-icon e-TypeMarkets1\"><use xlink:href=\"#e-TypeMarkets1\"><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong> 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 1,951.20<\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">-0.1%<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-down\">\n<td class=\"td-list-down\">\n<p><svg class=\"e-icon e-TypeMarkets1\"><use xlink:href=\"#e-TypeMarkets1\"><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong> BTC <\/strong><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">USD 27,077<\/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: +63.4%)<\/p>\n<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<\/div><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong> THE CLOSING BELL- <\/strong><\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong> The EGX30 fell 0.8% at yesterday\u2019s close <\/strong> on turnover of EGP 2.9 bn (35.5% above the 90-day average). Local investors were net sellers. The index is up 35.6% YTD.<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong> In the green: <\/strong>Alexandria Containers and Cargo Handling (+6.9%), Sidi Kerir Petrochemicals (+6.6%) and Alexandria Mineral Oils Company (+5.1%).<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong> In the red: <\/strong>Mopco (-5.1%), GB Corp (-4.8%) and Qalaa Holdings (-4.7%).<\/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\/federal-reserve\/\">Federal Reserve<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/financial-markets\/\">Financial Markets<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/hedge-funds\/\">hedge funds<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/planet-finance\/\">Planet Finance<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/treasuries\/\">treasuries<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/uk\/\">UK<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/us\/\">US<\/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=\"606801\" 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=\"606801\">\r\n            \r\n                <div class=\"issue-story-header text-center\">\r\n                    <div class=\"index-number\">13<\/div>\r\n\r\n                    <p class=\"f-graphik\">Diplomacy<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2023\/09\/21\/egypt-iran-top-diplomats-hold-talks-at-un\/\">\r\n                            Egypt, Iran top diplomats hold talks at UN                        <\/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\/21\/egypt-iran-top-diplomats-hold-talks-at-un\/\" 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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Foreign Minister Sameh Shoukry discussed with his Iranian counterpart Hossein Amir Abdollahian developing bilateral ties as well as a number of regional issues, according to a Foreign Ministry <a target=\"_blank\" href=\"https:\/\/bit.ly\/3PKfp7Q\" style=\"\" rel=\"noopener\">readout<\/a> of the conversation.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong> Remember: <\/strong> Iran has launched a diplomatic offensive in the Arab world this year, signing a landmark accord with its former arch enemy Saudi Arabia to <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/2baaf6a5-9014-4282-a16b-2877d72238cf\" style=\"\" rel=\"noopener\">reopen embassies<\/a>, holding <a target=\"_blank\" href=\"https:\/\/apnews.com\/article\/uae-iran-politics-diplomacy-gulf-nuclear-3f604be2c864de9db863a63e8d91a756\" style=\"\" rel=\"noopener\">high-level talks with the president of the UAE<\/a>, and reportedly <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/06e7e381-df4d-4d89-94c7-428dba34d5a3\" style=\"\" rel=\"noopener\">engaging in months of talks<\/a> with Egypt to normalize relations. Supreme Leader Ayatollah Khamenei has personally given his blessing to the government to pursue warmer ties with Cairo.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong> ALSO- <\/strong>Shoukry discussed immigration with the <a target=\"_blank\" href=\"https:\/\/bit.ly\/3PL8H0f\" style=\"\" rel=\"noopener\">Italian foreign minister<\/a>, terrorism with his <a target=\"_blank\" href=\"https:\/\/www.facebook.com\/MFAEgypt\/posts\/pfbid0eBaTbWWwALgf1US9rG6nk1poAEv2W4gyCR9bpG8tjCrQeeEL1sgDugTD9MWBzTZql\" style=\"\" rel=\"noopener\">Pakistani counterpart<\/a>, and the Sudan conflict with <a target=\"_blank\" href=\"https:\/\/bit.ly\/48kQq27\" style=\"\" rel=\"noopener\">Uganda\u2019s foreign minister<\/a>. He also held talks with the foreign ministers of <a target=\"_blank\" href=\"https:\/\/bit.ly\/3sVASS6\" style=\"\" rel=\"noopener\">Canada<\/a>, <a target=\"_blank\" href=\"https:\/\/bit.ly\/3PNqqoE\" style=\"\" rel=\"noopener\">Norway<\/a>, <a target=\"_blank\" href=\"https:\/\/bit.ly\/3PJCV4Q\" style=\"\" rel=\"noopener\">New Zealand<\/a>, <a target=\"_blank\" href=\"https:\/\/bit.ly\/3rkAc8s\" style=\"\" rel=\"noopener\">Croatia<\/a> and <a target=\"_blank\" href=\"https:\/\/bit.ly\/3EJ4rJs\" style=\"\" rel=\"noopener\">Sierra Leone<\/a>.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong> AND- <\/strong> Shoukry sat down for an interview with Turkish state broadcaster TRT World in New York (<a target=\"_blank\" href=\"https:\/\/www.youtube.com\/watch?v=otko9GrWZXY\" style=\"\" rel=\"noopener\">watch, runtime: 21:00<\/a>), another sign of warming relations between the two countries a few months after they <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/467e7c7c-3c5e-45ce-bc81-70050a95fabf\" style=\"\" rel=\"noopener\">agreed to normalize ties<\/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\/diplomacy\/\">DIPLOMACY<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/egypt-iran-relations\/\">Egypt-Iran relations<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/egypt-italy-relations\/\">Egypt-Italy relations<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/egypt-pakistan-relations\/\">Egypt-Pakistan relations<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/foreign-ministry\/\">Foreign Ministry<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/middle-east-politics\/\">Middle East politics<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/sameh-shoukry\/\">Sameh Shoukry<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/un\/\">UN<\/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=\"606803\" 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=\"606803\">\r\n            \r\n                <div class=\"issue-story-header text-center\">\r\n                    <div class=\"index-number\">14<\/div>\r\n\r\n                    <p class=\"f-graphik\">My Morning Routine<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2023\/09\/21\/my-morning-routine-omar-rezk-managing-director-of-entlaq\/\">\r\n                            My Morning Routine: Omar Rezk, managing director of Entlaq                        <\/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\/21\/my-morning-routine-omar-rezk-managing-director-of-entlaq\/\" 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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Speaking to us this week is Omar Rezk (<a target=\"_blank\" href=\"https:\/\/www.linkedin.com\/in\/omar-rezk\" style=\"\" rel=\"noopener\">LinkedIn<\/a>), managing director of <a target=\"_blank\" href=\"https:\/\/bit.ly\/3rnKSDo\" style=\"\" rel=\"noopener\">Entl<\/a> <a target=\"_blank\" href=\"https:\/\/bit.ly\/3rnKSDo\" style=\"\" rel=\"noopener\">aq<\/a> <a target=\"_blank\" href=\"https:\/\/bit.ly\/3rnKSDo\" style=\"\" rel=\"noopener\">Holdi<\/a> <a target=\"_blank\" href=\"https:\/\/bit.ly\/3rnKSDo\" style=\"\" rel=\"noopener\">ng<\/a>.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong> My name is Omar Rezk and I am the managing director for consulting and strategy at <\/strong><strong> Entlaq Holding<\/strong>, which is a Cairo-based accelerator and consulting firm. I graduated from AUC with my degree in political science in 2018. Before Entlaq, I worked in investment banking, then political consulting, and then finally for Uber, handling Uber Bus operations in the Middle East and Africa. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong> At Entlaq, we\u2019re split into two business units. <\/strong> The first is an accelerator focused on Egyptian startups from early to pre-seed stage. We do it twice a year and we invest up to USD 50k per startup at the end of the program, which usually lasts between four and six months. Then there is the consulting and strategy unit, where we work with all the stakeholders in the ecosystem \u2014 development partners, university level programs, government stakeholders, startups, and the private sector. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong> We work with startups on several areas<\/strong>, including advising them on policies \u2014 how to approach and assess them \u2014 using our policy framework. We also handle startups\u2019 partnerships with the government, be it through regulation or government programs that empower the private sector and entrepreneurship. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong> We also offer B2G services<\/strong>, working with the government through our capacity as a member of the technical entrepreneurship committee, which reports directly to the Madbouly cabinet. The committee includes members from the ministries of finance and planning, the Information Technology Industry Development Agency (ITIDA), the General Authority for Investment and Freezones (GAFI), the Financial Regulatory Authority (FRA), and the Central Bank of Egypt. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong> We see a number of obstacles hindering the entrepreneurial ecosystem. <\/strong>First of all, it\u2019s mainly focused on Cairo. There also aren\u2019t enough women founders and there\u2019s a lack of access to financial resources and support. The key component is outreach. We need education, financial, and policy channels. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong> Our vision for 2024 is all about expansion. <\/strong>We want to expand access to entrepreneurial tools to every governorate. We\u2019ll boost our geographical reach with our entrepreneurship and universities program that will kick off in 2024. I\u2019m optimistic about where it may go.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong> We also want to increase data availability. <\/strong>Getting local economic, market, and socioeconomic data is not the easiest job but it would be a great investment catalyst.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong> The VC curve has started to flatten a bit<\/strong>, but at the same time local startups have shown resilience. Even amid the ongoing economic situation, we still see a lot of Egyptian startups standing strong. It\u2019s not about exponential growth but about consistent growth. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong> People have <\/strong><strong> been more focused recently on industrial tech and agritech<\/strong>. They\u2019re starting to look at the biggest sectors present in the market and innovating there. Entrepreneurs have also shifted their focus from global issues to local issues. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong> I wake up around 8 am. <\/strong> I pick up my phone, check Twitter and my calendar to see what I have planned for the day, and then I read EnterpriseAM. I started reading Enterprise in 2017 when I was working at a local consulting firm and basically haven\u2019t missed an issue since. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong> If I\u2019m up early, I\u2019ll try to sneak in a walk before I head to our office in Downtown. <\/strong>My team and I hold morning meetings in the garden. A big part of our job is being on top of the news \u2014 the economic situation, investments, and regulation \u2014 in order to be able to forecast where things may go. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong> Then I usually have lots of calls to make and meetings to attend. <\/strong>I try to free up a day or two without calls and meetings to focus and reflect on our strategy. At the end of the day, I take a look at our tools and trackers in order to see where we stand in terms of our current objectives. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong> I usually end the day at around 6 or 7 pm. <\/strong>At Entlaq, we try to keep a great work-life balance in order to maintain our productivity. We try to get the most out of our working hours.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong> After my workday is done, <\/strong>I head to the gym for a workout, then I\u2019ll meet a few friends or head back home to have dinner with my family. I try to spend my commute from my house in New Cairo to the office in Downtown checking in with family and friends. <\/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:\/\/www.imdb.com\/title\/tt7660850\/\" style=\"\" rel=\"noopener\">Succession<\/a><\/strong><strong> is one of the best shows I\u2019ve ever seen. <\/strong> It gave me a look into a whole new world of corporate politics and family dynamics.<\/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\/entlaq\/\">Entlaq<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/my-morning-routine\/\">MY MORNING ROUTINE<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/omar-rezk\/\">Omar Rezk<\/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=\"606805\" 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\/21\/606805\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-606805\" class=\"content-area-description single-story post-606805 post type-post status-publish format-standard hentry category-calendar wpautop entry\">\n\n\t\t\t<hr class=\"wp-block-separator has-text-color has-primary-color has-alpha-channel-opacity has-primary-background-color has-background is-style-wide\">\n\n\t\t<h2 class=\"wp-block-heading mt-0 has-primary-color has-text-color has-link-color has-normal-font-size\" style=\"padding-top:0px;padding-right:0px;padding-bottom:0px;padding-left:0px\">\n\t\t\t<strong> CALENDAR<\/strong>\n\t\t<\/h2>\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:700\">SEPTEMBER <\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:400;\">19-26 September (Tuesday-Tuesday): UN General Assembly, New York.<\/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>1 October (Sunday): Public-sector <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/9b182e4c-7409-4375-b92f-82f32198f67c\" style=\"\">minimum wage hike<\/a><\/span><span>, other financial support measures come into effect.<\/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 style=\"font-weight:400;\">8 November (Wednesday): Turkish-Arab Economic Forum 2023, Istanbul.<\/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>It\u2019s interest rate day | CBE seen leaving rates on hold | IFC money for Damietta Port? | Fed signals higher rates for longer<\/p>\n","protected":false},"featured_media":606772,"menu_order":0,"template":"","categories":[],"tags":[],"class_list":["post-606771","issue","type-issue","status-publish","has-post-thumbnail","hentry","wpautop","entry"],"acf":{"mongo_id":"aca9135d-cff6-4556-8dc1-53efc00aea69","teaser":"It\u2019s interest rate day | CBE seen leaving rates on hold | IFC money for Damietta Port? | Fed signals higher rates for longer","photo_url":"https:\/\/ent.news\/2023\/9\/1367.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>EUR 1 bn tire factory + lots more investment news - EnterpriseAM 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