{"id":607419,"date":"2023-10-03T00:00:00","date_gmt":"2023-10-03T00:00:00","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/?post_type=issue&#038;p=607419"},"modified":"2025-12-17T01:02:00","modified_gmt":"2025-12-17T01:02:00","slug":"el-sisi-announces-bid-for-re-election","status":"publish","type":"issue","link":"https:\/\/enterpriseam.com\/egypt\/issues\/el-sisi-announces-bid-for-re-election\/","title":{"rendered":"El Sisi announces bid for re-election"},"content":{"rendered":"<section id=\"607421\" 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=\"607421\">\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\/10\/03\/el-sisi-announces-bid-for-re-election\/\">\r\n                            Egypt\u2019s El Sisi announces bid for re-election                        <\/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\/10\/03\/el-sisi-announces-bid-for-re-election\/\" 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\/10\/03\/el-sisi-announces-bid-for-re-election\/')\">\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\/10\/03\/el-sisi-announces-bid-for-re-election\/\">\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=El Sisi announces bid for re-election&url=https:\/\/enterpriseam.com\/egypt\/2023\/10\/03\/el-sisi-announces-bid-for-re-election\/\">\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\/10\/03\/el-sisi-announces-bid-for-re-election\/&title=El Sisi announces bid for re-election\">\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=El+Sisi+announces+bid+for+re-election+https%3A%2F%2Fenterpriseam.com%2Fegypt%2F2023%2F10%2F03%2Fel-sisi-announces-bid-for-re-election%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\/10\/03\/el-sisi-announces-bid-for-re-election\/\">\r\n                    <div class=\"photo photo--above\">\r\n                        <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2023\/10\/194.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"607422\" data-permalink=\"https:\/\/enterpriseam.com\/egypt\/2023\/10\/03\/el-sisi-announces-bid-for-re-election\/194-jpg-27\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2023\/10\/194.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"194.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2023\/10\/194.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2023\/10\/194.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-607421\" class=\"content-area-description single-story post-607421 post type-post status-publish format-standard has-post-thumbnail hentry category-what-were-tracking-today tag-abdel-fattah-el-sisi tag-election-2023 tag-enterpriseam tag-what-were-tracking-today wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<aside>\t\t\t<div\r\n\t\t\t\t\t\t\t\tclass=\"newspack-popup-container newspack-popup hidden  newspack-inline-popup  newspack-lightbox-no-border   \"\r\n\t\t\t\trole=\"button\"\r\n\t\t\t\ttabindex=\"0\"\r\n\t\t\t\tstyle=\"background-color:#FFFFFF;color:#000\"\r\n\t\t\t\tid=\"id_27645\"\r\n\t\t\t\tdata-segments=\"\"\r\n\t\t\t\tdata-frequency=\"0,0,0,month\"\r\n\t\t\t>\r\n\t\t\t\t\n<div class=\"wp-block-group has-light-gray-background-color has-background\" style=\"padding-top:0px;padding-right:0px;padding-bottom:0px;padding-left:0px\"><div class=\"wp-block-group__inner-container is-layout-constrained wp-container-core-group-is-layout-ef38739e wp-block-group-is-layout-constrained\">\n<div class=\"wp-block-group is-content-justification-center is-nowrap is-layout-flex wp-container-core-group-is-layout-94bc23d7 wp-block-group-is-layout-flex\">\n<p class=\"f-graphik\" style=\"font-size:14px\">Together with<\/p>\n\n\n<div class=\"wp-block-image\">\n<figure class=\"aligncenter size-full\"><img decoding=\"async\" src=\"https:\/\/s3.amazonaws.com\/resources.inktankir.com\/internal\/27482.svg\" alt=\"\" class=\"wp-image-27482\"\/><\/figure>\n<\/div><\/div>\n<\/div><\/div>\n\t\t\t<\/div>\r\n\t\t<\/aside>\n<figure class=\"wp-block-audio mb-0\"><audio controls preload=\"metadata\" src=\"https:\/\/s3.us-east-1.amazonaws.com\/ent.news\/audio\/2023\/10\/.20a674b8-4e44-48b5-9da7-f5df7219a51f.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 welcome to a very heavy news morning. <\/strong>President Abdel Fattah El Sisi will seek a third term, Morgan Stanely doesn\u2019t like us, the sugar market is looking a bit dysfunctional right now, and we could get yet more money from IFC for a key private sector project \u2014 and that\u2019s just for starters. <\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong> ELECTION 2023- <\/strong><\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"> <a id=\"wwtt1\"><\/a> <strong> El Sisi has officially thrown his hat into the ring: <\/strong> President Abdel Fattah El Sisi will seek a third term in office after he <a target=\"_blank\" href=\"https:\/\/www.facebook.com\/Egy.Pres.Spokesman\/posts\/881010536721009\" style=\"\" rel=\"noopener\">announced<\/a> yesterday his candidacy for December\u2019s presidential election. \u201cI have decided to nominate myself to you to complete the dream of a new presidential term,\u201d the president said on the final day of the \u201cStory of a Homeland\u201d conference, a three-day forum in the new capital dedicated to a review of his time in office. <\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong> At least two other candidates are in the race: <\/strong>The Al Wafd Party\u2019s <strong> Abdel Sanad <\/strong><strong> Yamama <\/strong> and the Egyptian Social Democratic Party\u2019s <strong> Farid Zahran <\/strong> both <a target=\"_blank\" href=\"https:\/\/shorturl.at\/jmnp4\" style=\"\" rel=\"noopener\">secured spots on the ballot<\/a> earlier this week after obtaining the minimum number of signatures from MPs to be listed as candidates. <\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong> Waiting in the wings: <\/strong>Republican People\u2019s Party Senator <strong> Hazem Omar <\/strong> is expected to join the race in the coming days, but will first need the Senate to accept his resignation. Omar has collected signatures from 44 MPs, qualifying him to join the preliminary list of candidates. The Karama Party\u2019s <strong> Ahmed Tantawi <\/strong> and head of the Dostour Party <strong> Gameela Ismail <\/strong> are also trying to collect signatures to get onto the ballot. <\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong> Remember: <\/strong> Egyptians will go to the polls in December to elect a president for a new six-year term. Polls will be open at home on 10-12 December while expats will vote on 1-3 December.<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\">The results will be announced on December 18, with a runoff in early 2024 if there is no clear winner.<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong> The news received international coverage: <\/strong><a target=\"_blank\" href=\"https:\/\/apnews.com\/article\/elsissi-president-elections-vote-egypt-24d3de54b2d81d0fcbc8e3d2c2706228\" style=\"\" rel=\"noopener\">Associated Press<\/a> | <a target=\"_blank\" href=\"https:\/\/www.reuters.com\/article\/idUSKCN3121LB\" style=\"\" rel=\"noopener\">Reuters<\/a> | <a target=\"_blank\" href=\"https:\/\/www.france24.com\/en\/live-news\/20231002-no-one-better-egyptians-rally-for-sisi-third-term-1\" style=\"\" rel=\"noopener\">AFP<\/a> | <a target=\"_blank\" href=\"https:\/\/www.bloomberg.com\/news\/articles\/2023-10-02\/egypt-s-sisi-to-seek-third-term-in-vote-where-focus-is-economy\" style=\"\" rel=\"noopener\">Bloomberg<\/a> | <a target=\"_blank\" href=\"https:\/\/www.thenationalnews.com\/mena\/2023\/10\/02\/egypts-el-sisi-declares-he-will-run-for-third-term-in-december-election\/\" style=\"\" rel=\"noopener\">The National<\/a>.<\/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\/10\/196.jpg?ssl=1\"><\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong> MARKET WATCH- <\/strong><\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"> <a id=\"wwtt4\"><\/a> <strong> We just got a \u201cdislike\u201d from Morgan Stanley: <\/strong> Morgan Stanley has adopted a negative outlook on our debt on concerns about our financing gap and uncertainty about how we\u2019ll roll out reforms required by our USD 3 bn agreement with the IMF, according to <a target=\"_blank\" href=\"https:\/\/www.bloomberg.com\/news\/articles\/2023-10-02\/morgan-stanley-now-dislikes-egyptian-bonds-warns-risks-building\" style=\"\" rel=\"noopener\">Bloomberg<\/a>. The bulge bracket bank has downgraded its rating of our sovereign debt to \u201cdislike\u201d from \u201cneutral\u201d on what it said were \u201cmounting risks\u201d in the coming months, including from December\u2019s presidential election, which it said could delay the reform agenda. <\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong> High US yields are bad for Egypt: <\/strong> The bank\u2019s bearish stance on riskier assets is the result of an increase in <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/dac928e8-3527-4d1c-a950-b286e24e4c96\" style=\"\" rel=\"noopener\">US inflation-adjusted yields<\/a>, Morgan Stanley wrote in a report, leading it to prefer higher-yielding emerging debt. \u201cThe prospect of a prolonged period of elevated rates in the US may now keep Egypt locked out of global capital markets for longer,\u201d Bloomberg wrote. The media outlet last month <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/4b0d3f20-2d64-422f-947a-06c529e19e20\" style=\"\" rel=\"noopener\">ranked Egypt as the second-most vulnerable country<\/a> to a debt crisis.<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong> And they\u2019re going higher: <\/strong>US Treasury yields hit their highest levels in 16 years yesterday as the global bond sell-off resumed, writes the <a target=\"_blank\" href=\"https:\/\/www.ft.com\/content\/637eb94f-b7a9-409d-8230-8b3ff512e5b0\" style=\"\" rel=\"noopener\">Financial Times<\/a>. The rate on 10-year bonds climbed 0.13 percentage points to 4.70% yesterday after positive manufacturing data hardened traders\u2019 expectations for interest rates to remain high over the long term. <\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong> We already knew 2024 was going to be expensive: <\/strong> We need <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/c4c99b98-6ac1-44ac-92fc-525f702f20e4\" style=\"\" rel=\"noopener\">USD 29.2 bn of<\/a> <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/c4c99b98-6ac1-44ac-92fc-525f702f20e4\" style=\"\" rel=\"noopener\">financing<\/a> to meet debt repayments next year, equal to almost a fifth of our total external debt, according to central bank figures out last week. Morgan Stanley puts the figure at USD 24 bn for the current fiscal year.<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong> FX WATCH- <\/strong><\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"> <a id=\"wwtt3\"><\/a> <strong> HSBC reduces FX withdrawal limit by a third: <\/strong>HSBC Egypt customers are now able to only make USD 1k in overseas foreign-currency withdrawals per month, down from <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/e985a26d-733a-42c8-bbc7-513767a01d11\" style=\"\" rel=\"noopener\">USD 1.5k previously<\/a>, according to <a target=\"_blank\" href=\"https:\/\/bit.ly\/46Bu2zZ\" style=\"\" rel=\"noopener\">the<\/a> <a target=\"_blank\" href=\"https:\/\/bit.ly\/46Bu2zZ\" style=\"\" rel=\"noopener\">bank\u2019s webs<\/a> <a target=\"_blank\" href=\"https:\/\/bit.ly\/46Bu2zZ\" style=\"\" rel=\"noopener\">ite<\/a>. The tighter restriction went into effect at the beginning of the month. This limit includes the amount you withdraw plus any additional fees that HSBC or the ATM imposes on the withdrawal. The transactions include withdrawals using debit and credit cards, as well as cash advances using credit cards at ATMs.<\/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> IN THE HOUSE TODAY- <\/strong><\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"> <a id=\"wwtt2\"><\/a> <strong> #1- Emergency <\/strong><strong><a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/9b182e4c-7409-4375-b92f-82f32198f67c\" style=\"\" rel=\"noopener\">cost of living measures<\/a><\/strong><strong> up for discussion: <\/strong> The House Budget Committee will discuss two draft bills that would raise the income tax exemption threshold, and double exceptional stimulus payments to public-sector workers and pensioners. The changes were among a list of measures announced by President Abdel Fattah El Sisi last month to alleviate the impact of the economic crisis on vulnerable households.<\/p><p><strong> #2- Parliamentary committee posts announced: <\/strong> The speaker will announce the results of yesterday\u2019s election of a chairman, two deputies, and a secretary general for each of the House\u2019s 25 committees.<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong> #3- The Senate is back in session: <\/strong> Senators will reconvene today after the two-month summer recess with committee elections top of the agenda. Senate speaker Abdel Wahab Abdel Razeq will today open the door for members wishing to run for the leading posts of the chamber\u2019s 14 committees. Results will be announced during the Senate\u2019s Wednesday session. <\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong> HAPPENING THIS WEEK- <\/strong><\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong> IT\u2019S NOBEL WEEK- The scientists who made possible a <\/strong><strong> covid vaccine got the Nobel <\/strong><strong> yesterday: <\/strong> The Nobel Prize in Physiology or Medicine was jointly <a target=\"_blank\" href=\"https:\/\/www.nobelprize.org\/prizes\/medicine\/2023\/press-release\/\" style=\"\" rel=\"noopener\">awarded<\/a> yesterday to two scientists from Hungary and the US, Katalin Karak\u00f3 and Drew Weissman, for their groundbreaking contributions to the creation of the mRNA covid-19 vaccine. <\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong> The physics prize will be announced today: <\/strong> Regarded amongst the most prestigious awards, the Nobel Prize in Physics has been handed to some of the world\u2019s most iconic figures in the arena of science like Albert Einstein and Marie Curie. The prize for chemistry will be announced tomorrow, followed by the literature, peace, and economic sciences prizes through the rest of the <a target=\"_blank\" href=\"https:\/\/www.nobelprize.org\/prizes\/about\/prize-announcement-dates\/\" style=\"\" rel=\"noopener\">week<\/a>.<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong> HAPPENING NEXT YEAR? <\/strong><\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"> <a id=\"wwtt5\"><\/a> <strong> EGX to launch financial derivatives market in 2024? <\/strong>The EGX is in the process of completing procedures with financial regulators and brokerage companies to launch a derivatives market during 2024, <a target=\"_blank\" href=\"https:\/\/shorturl.at\/pxRTW\" style=\"\" rel=\"noopener\">the bourse\u2019s new boss Ahmed El Sheikh<\/a> told Asharq Business (<a target=\"_blank\" href=\"https:\/\/bit.ly\/3PYh0qG\" style=\"\" rel=\"noopener\">watch, runtime: 3:50<\/a>). Brokerage companies will now study market and human resources requirements needed to introduce investors to new financial derivatives, he added. <\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong> Boosting EGX investor reach: <\/strong>The new derivatives market will attract new segments of investors to the EGX, El Sheikh added. The news follows last week's EGX statement that it has taken responsibility for managing the secondary market for t-bills, allowing them to be <a target=\"_blank\" href=\"https:\/\/bit.ly\/3LMltdE\" style=\"\" rel=\"noopener\">traded on the bourse<\/a> in a move to improve investor accessibility, boost trade volumes, and lower yields.<\/p><div class=\"row\">\n<div class=\"col-md-12 subscribe-box-panel\">\n<div class=\"\">\n<div class=\"title\">\n<h4 class=\"fw-lighter mb-10\">\n   Get <b style=\"font-weight: 700\">Enterprise<\/b> daily<br>\n  <\/h4>\n<\/div>\n<p class=\"mb-10\">The roundup of news and trends that move your markets and shape corporate agendas delivered straight to your inbox.<\/p>\n<p>  <a target=\"_blank\" href=\"egypt\/en\/user\/NewsLetters\" type=\"button \" class=\"btn-green px-3 d-flex align-items-center\" rel=\"noopener\">Subscribe here<\/a>\n <\/p><\/div>\n<\/div>\n<\/div><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong> THE BIG STORIES ABROAD- <\/strong><\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong> Get used to seeing this a lot: <\/strong> Trump is in court. (<a target=\"_blank\" href=\"https:\/\/apnews.com\/article\/trump-letitia-james-fraud-lawsuit-new-york-eb98c99fe918da139b0d8b6347211afe\" style=\"\" rel=\"noopener\">Associated Press<\/a> | <a target=\"_blank\" href=\"https:\/\/www.reuters.com\/world\/us\/donald-trumps-business-empire-peril-civil-fraud-trial-opens-new-york-2023-10-02\/\" style=\"\" rel=\"noopener\">Reuters<\/a> | <a target=\"_blank\" href=\"https:\/\/apnews.com\/article\/trump-letitia-james-fraud-lawsuit-new-york-eb98c99fe918da139b0d8b6347211afe\" style=\"\" rel=\"noopener\">New<\/a> <a target=\"_blank\" href=\"https:\/\/apnews.com\/article\/trump-letitia-james-fraud-lawsuit-new-york-eb98c99fe918da139b0d8b6347211afe\" style=\"\" rel=\"noopener\">York Times<\/a> | <a target=\"_blank\" href=\"https:\/\/www.washingtonpost.com\/politics\/2023\/10\/02\/trump-fraud-trial-new-york-james\/\" style=\"\" rel=\"noopener\">Washington Post<\/a> | <a target=\"_blank\" href=\"https:\/\/www.wsj.com\/us-news\/law\/trump-goes-to-court-for-opening-of-civil-fraud-trial-1a79b504\" style=\"\" rel=\"noopener\">WSJ<\/a>)<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong> The latest from Capitol Hill: <\/strong> Republicans are doing Republican things. (<a target=\"_blank\" href=\"https:\/\/apnews.com\/article\/kevin-mccarthy-matt-gaetz-speaker-vacate-congress-e7e5ccc6cf79ccbf5b4a7b73b9d5a3ae\" style=\"\" rel=\"noopener\">Associated Press<\/a> | <a target=\"_blank\" href=\"https:\/\/www.reuters.com\/world\/us\/us-house-speaker-mccarthy-braces-likely-new-republican-rebellion-2023-10-02\/\" style=\"\" rel=\"noopener\">Reuters<\/a> | <a target=\"_blank\" href=\"https:\/\/www.nytimes.com\/2023\/10\/02\/us\/politics\/mccarthy-gaetz-house-speaker.html\" style=\"\" rel=\"noopener\">New York Times<\/a> | <a target=\"_blank\" href=\"https:\/\/www.washingtonpost.com\/politics\/2023\/10\/02\/kevin-mccarthy-matt-gaetz\/\" style=\"\" rel=\"noopener\">Washington Post<\/a> | <a target=\"_blank\" href=\"https:\/\/www.wsj.com\/politics\/matt-gaetz-kevin-mccarthy-house-speaker-vote-744c9d62\" style=\"\" rel=\"noopener\">WSJ<\/a>)<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong> US recession: <\/strong> Here are all the reasons why the Fed probably isn\u2019t going to achieve its \u201csoft landing.\u201d (<a target=\"_blank\" href=\"https:\/\/www.bloomberg.com\/news\/articles\/2023-10-01\/6-reasons-why-a-us-recession-is-likely-and-coming-soon?srnd=premium\" style=\"\" rel=\"noopener\">Bloomberg<\/a>)<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong> A more Sino-friendly IMF? <\/strong> Georgieva backs handing Beijing more power at the Fund. (<a target=\"_blank\" href=\"https:\/\/www.ft.com\/content\/e9bef232-a1fc-4052-be79-7c68883fdb84\" style=\"\" rel=\"noopener\">Financial Times<\/a>)<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong> THE REALIGNMENT- <\/strong><\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong> Saudi-US defense treaty tied to normalization with Israel: <\/strong>Saudi Arabia\u2019s pursuit of a military pact with the US is dependent on the kingdom opening up relations with Israel, <a target=\"_blank\" href=\"https:\/\/www.reuters.com\/world\/us-saudi-defence-pact-tied-israel-deal-palestinian-demands-put-aside-2023-09-29\/\" style=\"\" rel=\"noopener\">Reuters<\/a> reports, citing three regional sources it says are familiar with the talks. The potential military pact is expected to fall short of the kingdom\u2019s initial hopes of a NATO-style commitment by the US and instead resemble treaties the US has with its Asian allies, the newswire added, citing what it said was a US official familiar with the negotiations. Some concessions for the Palestinians are expected to come out of any agreement; however, the Palestine question appears to have taken a back seat, with Reuters quoting one of its regional sources as stating \u201cThe normalization will be between Israel and Saudi Arabia. If the Palestinians oppose it the kingdom will continue in its path.\u201d<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><img data-recalc-dims=\"1\" decoding=\"async\" src=\"https:\/\/i0.wp.com\/enterprise.press\/wp-content\/uploads\/2021\/03\/INFINITY-Top-banner-EN-1600x675-v2-02.png\"><\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong> *** It\u2019s Going Green day \u2014 your weekly briefing of all things green in Egypt: <\/strong> Enterprise\u2019s green economy vertical focuses each Tuesday on the business of renewable energy and sustainable practices in Egypt, everything from solar and wind energy through to water, waste management, sustainable building practices and how you can make your business greener, whatever the sector.<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong> In today\u2019s issue: <\/strong>How industrial players and the government are working to combat industrial pollution.<\/p>\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/abdel-fattah-el-sisi\/\">Abdel Fattah El Sisi<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/election-2023\/\">Election 2023<\/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=\"607423 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=\"607423\">\r\n            \r\n            <div class=\"story__body\">\r\n\r\n                <a href=\"https:\/\/enterpriseam.com\/egypt\/2023\/10\/03\/607423\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-607423\" class=\"content-area-description single-story post-607423 post type-post status-publish format-standard hentry category-advertiser wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<p><span style=\"font-weight:400;\"><a href=\"https:\/\/www.together-experience.com\/\" target=\"_blank\" rel=\"noopener\"><img data-recalc-dims=\"1\" decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/ads\/imgs\/61.jpg?ssl=1\"><\/a><\/span><\/p>\n<div class=\"grouped-tags\">\n<p><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/www.together-experience.com\/\" style=\"\">Together<\/a><\/span><span style=\"\">: Three days of music set against the stunning backdrop of Somabay by the Red Sea. <\/span><span>From 5-7 October, two events organizers at the forefront of Egyptian nightlife, ByGanz and Nacelle, will bring together world-famous electronic music DJs such as Birds of Mind, Richy Ahmed, Henrik <\/span><span>Schwartz<\/span><span>, Hunee, and Guti, as well as regional and local artists. Together is a full three-day experience with beach activities from sunset to sunrise.<\/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=\"607424\" 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=\"607424\">\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\">ENTERPRISE FINANCE FORUM<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2023\/10\/03\/ai-and-big-data-what-to-know-and-how-to-think-about-it\/\">\r\n                            AI and big data: How next-gen tech will transform the local finance industry and what could be at stake?                        <\/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\/10\/03\/ai-and-big-data-what-to-know-and-how-to-think-about-it\/\" target=\"_blank\">\n                    Open in new tab                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/new-tab.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a href=\"#\" target=\"_blank\" onclick=\"event.preventDefault(); navigator.clipboard.writeText('https:\/\/enterpriseam.com\/egypt\/2023\/10\/03\/ai-and-big-data-what-to-know-and-how-to-think-about-it\/')\">\n                    Copy Link                <\/a>\n\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a target=\"_blank\" href=\"https:\/\/www.facebook.com\/sharer.php?u=https:\/\/enterpriseam.com\/egypt\/2023\/10\/03\/ai-and-big-data-what-to-know-and-how-to-think-about-it\/\">\n                    Facebook                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/facebook-icon2.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a target=\"_blank\" href=\"https:\/\/x.com\/intent\/post?text=AI and big data: What to know, and how to think about it&url=https:\/\/enterpriseam.com\/egypt\/2023\/10\/03\/ai-and-big-data-what-to-know-and-how-to-think-about-it\/\">\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\/10\/03\/ai-and-big-data-what-to-know-and-how-to-think-about-it\/&title=AI and big data: What to know, and how to think about it\">\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=AI+and+big+data%3A+What+to+know%2C+and+how+to+think+about+it+https%3A%2F%2Fenterpriseam.com%2Fegypt%2F2023%2F10%2F03%2Fai-and-big-data-what-to-know-and-how-to-think-about-it%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\/10\/03\/ai-and-big-data-what-to-know-and-how-to-think-about-it\/\">\r\n                    <div class=\"photo photo--above\">\r\n                        <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2023\/10\/177.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"607425\" data-permalink=\"https:\/\/enterpriseam.com\/egypt\/2023\/10\/03\/ai-and-big-data-what-to-know-and-how-to-think-about-it\/177-jpg-13\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2023\/10\/177.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"177.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2023\/10\/177.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2023\/10\/177.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-607424\" class=\"content-area-description single-story post-607424 post type-post status-publish format-standard has-post-thumbnail hentry category-enterprise-finance-forum tag-ai tag-basma-rady tag-beltone-financial tag-cib tag-data tag-enterprise-finance-forum tag-enterpriseam tag-galal-elbeshbishy tag-islam-zekry tag-larry-lerner tag-mckinsey-company 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\/10\/.b2fc2bb2-d679-4ca8-a533-7098c6393a6d.mp3\"><\/audio><\/figure>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"> <strong> AI and big data are going to transform the banking industry: <\/strong> The rapid evolution of generative AI in the past year and a bit is threatening to fundamentally reshape a number industries everywhere \u2014 and finance is no exception. And with machine learning, big data, and algorithmic decision-making only growing in importance in the industry, the question becomes: What kind of transformation do we want, and how can we ensure it is done responsibly?<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong> On the first day of the Enterprise Finance Forum, we welcomed on stage <\/strong>three industry insiders who have plenty of experience with AI and big data: CIB Group CFO <strong> Islam Zekry <\/strong> (who was earlier in his career the first head of data science at an Egyptian bank), Chief Data Scientist at Beltone Holding <strong> Basma Rady<\/strong>, and Synapse Analytics co-founder and COO <strong> Galal Elbeshbishy<\/strong>.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong> ICYMI- <\/strong>McKinsey\u2019s Larry Lerner, who co-moderated the panel, set the scene with an introduction on what every banker needs to know about AI. You can download <strong><a target=\"_blank\" href=\"https:\/\/ent.news\/2023\/9\/1413.pdf\" style=\"\" rel=\"noopener\">The promise of AI and GenAI in banking: Separating hype from potential (pdf)<\/a><\/strong> here.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong> Larry has also agreed we can share McKinsey\u2019s <\/strong><strong><a target=\"_blank\" href=\"https:\/\/ent.news\/2023\/9\/1412.pdf\" style=\"\" rel=\"noopener\">What every CEO should know about generative AI (pdf)<\/a><\/strong><strong> . <\/strong><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong> The 4 \u201cV\u201ds that make big data, well, big: Volume, velocity, variety and value. <\/strong>While <strong> volume <\/strong>is what distinguishes a dataset as big data, <strong> velocity <\/strong> is a business\u2019 capacity to efficiently process and derive value from the influx of data including customer narratives embedded within datasets, said Zekry. <strong> Variety <\/strong> covers a wide array of data types, extending beyond numerical and financial transactional datasets to encompass elements such as social mediator interactions, preferences, videos and emails, Zekry added.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong> The most valuable \u201cV\u201d: <\/strong> Generating substantial and meaningful <strong> value <\/strong> from all of the data a bank or business gathers that could drive decision-making processes is probably the most important element to keep in mind, said Zekry. Demonstrating the return on investment in expanding big data analysis is imperative, as decision-makers may be hesitant if they do not see a clear path to tangible returns, he added. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong> The AI 90\/10 mix in credit <\/strong><strong> decision-making <\/strong><strong> : <\/strong>Whether or not to give a client access to credit is an example of where supervised AI learning can be applied, said Zekry. CIB also uses algorithms to inform decisions about who to issue credit cards to, he said. \u201cFinancial institutions are reaching out to us for one defined use case, [and] that is instantaneous credit [decision making],\u201d Elbeshbishy said, echoing Zekry\u2019s thoughts. This is 90% of today\u2019s AI use cases in the banking sector, with generative AI taking up just 10%, said Zekry. Applications of AI are currently limited in the local market, but could triple over the next 5-10 years, Rady said.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong> Thin credit profiles call for AI interventions: <\/strong> The current level of financial inclusion and credit coverage is quite limited, leaving substantial capacity for growth, said Elbeshbishy. One place where banks have been using AI to good effect is to handle clients with thin-to-no credit profiles by using alternative data as well as tapping into predefined and pre-trained datasets. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong> How do you secure management buy-in for AI? Demonstrate value: <\/strong> In the case of an institution like Beltone, the leadership team already firmly believed in the power and value of AI and data to help people at all levels of the organization make decisions, Rady said. For data scientists with management teams that still need to be coaxed on the uptake, it\u2019s important to continuously demonstrate the value of data and AI to senior leaders. She argued that AI adoption in Egypt extends beyond financial institutions and is evident in digitally native tech startups. The adoption rates, however, vary among organizations, with some struggling to secure management support, Rady said. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong> The features of an AI-first institution: Data assets + talent + balanced decision-making. <\/strong>\u201cIf you have data and you have the talent, the sky\u2019s the limit,\u201d said Rady, highlighting the key pillars for AI-driven growth in financial institutions. Rady stressed the need to consider data collection in product launches and investing in talent growth, while striking a balance between machine learning and human domain expertise. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong> Ensuring that AI is in the right hands and applied ethically is central <\/strong><strong> to any conversation about the technology<\/strong>, said Elbeshbishy, stressing that this involves regulation to prevent misuse. The complexity of AI systems and the inherent biases in data is another aspect that needs to be considered, Elbeshbishy added, highlighting the need to differentiate between ethical concerns and biases originating from the data itself. Businesses will need to address biases within their AI systems, even if it means refactoring code to ensure fairness and avoid discrimination.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong> What\u2019s an AI-driven bank? <\/strong>Being an AI-based bank means being highly responsive, offering services beyond traditional banking, and tailoring the customer experience to individual consumption patterns and lifestyles, Zekry said. He underscored the need for financial institutions to adapt their business models: \u201cUnder the severe pressure we are facing from the new demographics and the new customers and all their needs, I think we are changing our business model into a more intelligent, more responsive, more customer centric business model.\u201d<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong> What we can do better: Personalization + cloud solutions. <\/strong> AI will make it possible for banks to instantly create personalized. Together with wider adoption of cloud-based solutions as the Central Bank of Egypt permits it, banks could be looking a more profitability by delivering better services more efficiently. There\u2019s also significant potential in the local banking industry, our panelists agreed, with its relatively low market penetration, which leaves room for expansion, potentially serving up to 60-70% of the population more effectively. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong> What\u2019s next? Financial inclusion for the next 10 mn people: <\/strong> Rady highlighted the role of data in building models for faster financial inclusion and overcoming biases through alternative data sources. \u201cIf you rely on new types of data sources that are less biased by nature, you can end up including more people into the financial services sector and have them become financially included,\u201d she said. Within the data science and AI community, there is a heightened awareness of privacy and ethical considerations, Rady added, saying that when developing models and technologies, there is a conscious effort to assess and mitigate biases. This proactive approach ensures that the resulting systems are designed to include as many individuals as possible while minimizing any potential biases, she said.<\/p>\n<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\/ads\/imgs\/44.jpg?ssl=1\"\/><\/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\/ai\/\">AI<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/basma-rady\/\">Basma Rady<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/beltone-financial\/\">Beltone Financial<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/cib\/\">CIB<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/data\/\">data<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/enterprise-finance-forum\/\">Enterprise Finance Forum<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/galal-elbeshbishy\/\">Galal Elbeshbishy<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/islam-zekry\/\">Islam Zekry<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/larry-lerner\/\">Larry Lerner<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/mckinsey-company\/\">McKinsey &amp; Company<\/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=\"607426\" 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=\"607426\">\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\">Economy<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2023\/10\/03\/net-foreign-asset-position-improves-slightly-in-august\/\">\r\n                            Egypt\u2019s net foreign assets position improves slightly in August                        <\/a>\r\n                    <\/h3>\r\n\r\n                    \r\n\t\t\t\t\t\n<div class=\"cta\">\n    <div class=\"cta__btn share-dropdown-cta dropdown-toggle-btn\" style=\"position:relative\">\n        <img decoding=\"async\" src=\"https:\/\/ent.news\/internal\/408834.svg\" alt=\"\">\n        Share Story\n        <!-- Dropdown Menu -->\n        <ul class=\"share-menu\">\n            <li class=\"list-inline-item\">\n                <a href=\"https:\/\/enterpriseam.com\/egypt\/2023\/10\/03\/net-foreign-asset-position-improves-slightly-in-august\/\" 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\/10\/03\/net-foreign-asset-position-improves-slightly-in-august\/')\">\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\/10\/03\/net-foreign-asset-position-improves-slightly-in-august\/\">\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=Net foreign asset position improves slightly in August&url=https:\/\/enterpriseam.com\/egypt\/2023\/10\/03\/net-foreign-asset-position-improves-slightly-in-august\/\">\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\/10\/03\/net-foreign-asset-position-improves-slightly-in-august\/&title=Net foreign asset position improves slightly in August\">\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=Net+foreign+asset+position+improves+slightly+in+August+https%3A%2F%2Fenterpriseam.com%2Fegypt%2F2023%2F10%2F03%2Fnet-foreign-asset-position-improves-slightly-in-august%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\/10\/03\/net-foreign-asset-position-improves-slightly-in-august\/\">\r\n                    <div class=\"photo photo--above\">\r\n                        <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2023\/10\/137.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"607427\" data-permalink=\"https:\/\/enterpriseam.com\/egypt\/2023\/10\/03\/net-foreign-asset-position-improves-slightly-in-august\/137-jpg-19\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2023\/10\/137.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"137.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2023\/10\/137.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2023\/10\/137.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-607426\" class=\"content-area-description single-story post-607426 post type-post status-publish format-standard has-post-thumbnail hentry category-economy tag-banking tag-central-bank-of-egypt tag-economy tag-enterpriseam tag-foreign-exchange 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\/10\/.0b88e139-b650-4f22-9724-11dd2833b04e.mp3\"><\/audio><\/figure>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"> <strong> Egypt\u2019s net foreign asset position improved marginally in August <\/strong> to negative USD 25.9 bn from negative USD 26.3 bn <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/57a596ba-4964-4765-a0a5-98d4807608d3\" style=\"\" rel=\"noopener\">the month prior<\/a>, according to Enterprise calculations basted on <a target=\"_blank\" href=\"https:\/\/ent.news\/2023\/10\/132.jpg\" style=\"\" rel=\"noopener\">Central Bank of Egyot figures<\/a>. This marks the second consecutive month that net foreign liabilities have fallen after reaching a <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/ce28e8d0-c86c-456e-a6ce-f14c5833d1b1\" style=\"\" rel=\"noopener\">record high<\/a> of USD 27.1 bn in June.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong> It was because of the central bank: <\/strong> The Central Bank of Egypt\u2019s net foreign liabilities narrowed to USD 9.4 bn from USD 10.1 bn in July, according to the figures.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong> FX liquidity in the banking system deteriorated: <\/strong> Net liabilities in the banking system widenedto a bit over USD 16.5 bn from USD 16.2 bn the previous month.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong> ICYMI- <\/strong> Net foreign assets in the banking sector have deteriorated heavily over the past two years, swinging from a EGP 26.4 bn surplus in June 2021 to a record <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/ce28e8d0-c86c-456e-a6ce-f14c5833d1b1\" style=\"\" rel=\"noopener\">EGP 529 bn deficit<\/a>(USD 17.1 bn) in June this year due to the ongoing FX crunch.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong> Some pundits think <\/strong><strong> August\u2019s marginal improvement could be a blip: <\/strong><a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/5e1427bc-32c8-4036-8213-ad503baaa07d\" style=\"\" rel=\"noopener\">Fitch<\/a> said last month that Egypt\u2019s net foreign asset position will likely get worse before it gets better, pointing to a combination of outflows of FX, import backlogs, and a managed exchange rate.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong> Remember: <\/strong>We remain in the grip of an ongoing hard currency shortage, triggered in part by major foreign portfolio outflows as global economic conditions tightened following the outbreak of the Russia-Ukraine war. This also comes as we face what Goldman Sachs recently warns is a USD 11 bn funding gap in the next five years and a wall of foreign debt repayments coming due over the coming decade.<\/p>\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/banking\/\">banking<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/central-bank-of-egypt\/\">Central Bank of Egypt<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/economy\/\">economy<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/foreign-exchange\/\">foreign exchange<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                    <\/div>\n    <\/div>\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"607428\" 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=\"607428\">\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\">Development finance<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2023\/10\/03\/ifc-could-greenlight-funds-for-east-port-said-port-expansion-this-month\/\">\r\n                            IFC could support Port Said port expansion with USD 175 mn loan                        <\/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\/10\/03\/ifc-could-greenlight-funds-for-east-port-said-port-expansion-this-month\/\" 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\/10\/03\/ifc-could-greenlight-funds-for-east-port-said-port-expansion-this-month\/')\">\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\/10\/03\/ifc-could-greenlight-funds-for-east-port-said-port-expansion-this-month\/\">\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 greenlight funds for East Port Said port expansion this month&url=https:\/\/enterpriseam.com\/egypt\/2023\/10\/03\/ifc-could-greenlight-funds-for-east-port-said-port-expansion-this-month\/\">\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\/10\/03\/ifc-could-greenlight-funds-for-east-port-said-port-expansion-this-month\/&title=IFC could greenlight funds for East Port Said port expansion this month\">\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+greenlight+funds+for+East+Port+Said+port+expansion+this+month+https%3A%2F%2Fenterpriseam.com%2Fegypt%2F2023%2F10%2F03%2Fifc-could-greenlight-funds-for-east-port-said-port-expansion-this-month%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\/10\/03\/ifc-could-greenlight-funds-for-east-port-said-port-expansion-this-month\/\">\r\n                    <div class=\"photo photo--above\">\r\n                        <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2023\/10\/180.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"607429\" data-permalink=\"https:\/\/enterpriseam.com\/egypt\/2023\/10\/03\/ifc-could-greenlight-funds-for-east-port-said-port-expansion-this-month\/180-jpg-15\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2023\/10\/180.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"180.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2023\/10\/180.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2023\/10\/180.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-607428\" class=\"content-area-description single-story post-607428 post type-post status-publish format-standard has-post-thumbnail hentry category-development-finance tag-development-finance tag-egyptian-international-container-terminal tag-enterpriseam tag-infrastructure tag-international-financial-corporation tag-logistics tag-maersk 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\/10\/.867431a6-6470-4d2e-b0fa-9c8762afb01c.mp3\"><\/audio><\/figure>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"> <strong> Maersk\u2019s expansion of East Port Said port could get IFC backing: <\/strong>The International Financial Corporation (IFC) is considering providing a loan of up to USD 175 mn to help the Suez Canal Container Terminal (SCCT) expand its existing container terminal at East Port Said port, the lender said on its <a target=\"_blank\" href=\"https:\/\/disclosures.ifc.org\/project-detail\/SII\/47505\/scct-phase-3\" style=\"\" rel=\"noopener\">website<\/a>. The multilateral lender is expected to decide on the loan by 30 October.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong> Also included: an interest rate hedge. <\/strong>The IFC will also provide the SCCT with risk management products in the form of interest rate swaps with a loan-equivalent exposure of approximately USD 2 mn, the lender said.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong> ICYMI- This is part of Maersk\u2019s expansion plans for the port: <\/strong> The Maersk-owned company is embarking on a USD 500 mn expansion of the East Port Said port that is expected to raise its capacity by 40%. The SCCT <a target=\"_blank\" href=\"https:\/\/shorturl.at\/koxHW\" style=\"\" rel=\"noopener\">signed a contract<\/a> with the Suez Canal Economic Zone in November that will put it in charge of building and operating a second container terminal at the port, as well as taking on responsibility for securing financing for the project. The IFC puts the cost of the project at USD 489 mn, of which 64% will be financed by internally generated cash flows and 36% via debt.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong> Refresher: <\/strong>The SCCT wants to expand the capacity of its existing 2.4k-meter container berth by 2.1 mn TEU to allow an annual capacity of 6.6 mn TEUs. This will significantly boost the port\u2019s current capacity, access to port services, and operational efficiency. Expansion of the terminal could kick off at the end of this year, with its initial operations commencing in 2H 2025.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong> SOUND SMART- <\/strong>A TEU is the <a target=\"_blank\" href=\"https:\/\/www.flexport.com\/glossary\/twenty-foot-equivalent-unit\/\" style=\"\" rel=\"noopener\">standard unit<\/a> for a shipping container \u2014 the corrugated metal things you\u2019ve seen being hauled on highways, stacked in ports, and carried on the deck of vessels. It stands for a twenty-foot equivalent unit.<\/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\/development-finance\/\">development finance<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/egyptian-international-container-terminal\/\">Egyptian International Container Terminal<\/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-financial-corporation\/\">International Financial 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                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/maersk\/\">Maersk<\/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=\"607430 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=\"607430\">\r\n            \r\n            <div class=\"story__body\">\r\n\r\n                <a href=\"https:\/\/enterpriseam.com\/egypt\/2023\/10\/03\/607430\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-607430\" class=\"content-area-description single-story post-607430 post type-post status-publish format-standard hentry category-advertiser wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<p><span style=\"font-weight:400;\"><a href=\"https:\/\/www.grantthornton.global\/en\/locations\/Egypt\/\" target=\"_blank\" rel=\"noopener\"><img data-recalc-dims=\"1\" decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2023\/3\/674.png?ssl=1\"><\/a><\/span><\/p>\n\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=\"607431\" 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=\"607431\">\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\">Commodities<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2023\/10\/03\/were-temporarily-halting-the-sale-of-sugar-to-traders-as-prices-soar\/\">\r\n                            Egypt is halting the sale of sugar to traders to curb soaring prices                        <\/a>\r\n                    <\/h3>\r\n\r\n                    \r\n\t\t\t\t\t\n<div class=\"cta\">\n    <div class=\"cta__btn share-dropdown-cta dropdown-toggle-btn\" style=\"position:relative\">\n        <img decoding=\"async\" src=\"https:\/\/ent.news\/internal\/408834.svg\" alt=\"\">\n        Share Story\n        <!-- Dropdown Menu -->\n        <ul class=\"share-menu\">\n            <li class=\"list-inline-item\">\n                <a href=\"https:\/\/enterpriseam.com\/egypt\/2023\/10\/03\/were-temporarily-halting-the-sale-of-sugar-to-traders-as-prices-soar\/\" 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\/10\/03\/were-temporarily-halting-the-sale-of-sugar-to-traders-as-prices-soar\/')\">\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\/10\/03\/were-temporarily-halting-the-sale-of-sugar-to-traders-as-prices-soar\/\">\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=We\u2019re (temporarily) halting the sale of sugar to traders as prices soar&url=https:\/\/enterpriseam.com\/egypt\/2023\/10\/03\/were-temporarily-halting-the-sale-of-sugar-to-traders-as-prices-soar\/\">\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\/10\/03\/were-temporarily-halting-the-sale-of-sugar-to-traders-as-prices-soar\/&title=We\u2019re (temporarily) halting the sale of sugar to traders as prices soar\">\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=We%E2%80%99re+%28temporarily%29+halting+the+sale+of+sugar+to+traders+as+prices+soar+https%3A%2F%2Fenterpriseam.com%2Fegypt%2F2023%2F10%2F03%2Fwere-temporarily-halting-the-sale-of-sugar-to-traders-as-prices-soar%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\/10\/03\/were-temporarily-halting-the-sale-of-sugar-to-traders-as-prices-soar\/\">\r\n                    <div class=\"photo photo--above\">\r\n                        <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2023\/10\/182.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"607432\" data-permalink=\"https:\/\/enterpriseam.com\/egypt\/2023\/10\/03\/were-temporarily-halting-the-sale-of-sugar-to-traders-as-prices-soar\/182-jpg-20\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2023\/10\/182.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"182.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2023\/10\/182.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2023\/10\/182.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-607431\" class=\"content-area-description single-story post-607431 post type-post status-publish format-standard has-post-thumbnail hentry category-commodities tag-commodities tag-enterpriseam tag-food-security tag-gasc tag-sugar tag-supply-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\/10\/.ec312010-fe70-469f-b9dc-4d4d80890739.mp3\"><\/audio><\/figure>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"> <strong> Sugar traders are no longer taking their ahwa ziyada: <\/strong> The Madbouly government will meet with sugar packing companies and traders later today to negotiate new terms and requirements for trading of the commodity, an official at the Supply Ministry told us yesterday. The official was speaking after the government imposed a temporary ban on sales of sugar to traders by both private and state-owned companies. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong> Wait, what ban? <\/strong>The temporary edict was handed down as officials looked to tamp down soaring sugar prices, <a target=\"_blank\" href=\"https:\/\/bit.ly\/3LIYY9m\" style=\"\" rel=\"noopener\">Asharq Business<\/a> reported yesterday, saying a source with knowledge of the decision had told it that companies had been told \u201cnot to sell to traders until prices stabilized.\u201d<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong> The Supply Ministry source tells us the government believes the ban will be temporary <\/strong>\u201cuntil new terms are set\u201d and that prices should come down once an agreement is reached.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong> The rationale: Cracking down on hoarding. <\/strong> The move is designed to prevent traders from hoarding supplies ahead of the anticipated currency devaluation and driving prices upwards, the source said.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong> Sugar prices are soaring: <\/strong> \u200bThe price of non-subsidized sugar has surged in the recent months on the back of a series of currency devaluations, which has triggered <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/4679aee6-2384-41d3-b930-cb4678b4e942\" style=\"\" rel=\"noopener\">record inflation<\/a> across the economy. Sugar is trading at as much as <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/d73cf547-e9bb-4f37-a704-a9b83433aded\" style=\"\" rel=\"noopener\">EGP 40 a kilo<\/a>, double the price subsidized by the government.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong> It\u2019s not just local factors driving prices higher: <\/strong> Sugar prices are spiking in sugar importers across North and Sub-Saharan Africa due to weak harvests in key producers, according to <a target=\"_blank\" href=\"https:\/\/www.bloomberg.com\/news\/articles\/2023-10-02\/sugar-price-surge-hits-african-nations-the-hardest\" style=\"\" rel=\"noopener\">Bloomberg<\/a>.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong> There\u2019s a carveout for some companies: <\/strong> The government is allowing sales to companies that depend on sugar in their production of goods, according to three company leaders who spoke to Asharq on the matter.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong> Export ban extended: <\/strong>The Trade Ministry last week <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/14df0f62-b573-4629-8bef-d23f826e508c\" style=\"\" rel=\"noopener\">extended its ban on sugar exports<\/a> until the end of the year in a bid to curb inflation. Exports have been banned since March.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong> The gov\u2019t has also been stocking up its sugar reserves: <\/strong> The General Authority for Supply Commodities (GASC) announced the arrival of 100k tons of raw <a target=\"_blank\" href=\"https:\/\/www.alborsaanews.com\/2023\/09\/27\/1717868\" style=\"\" rel=\"noopener\">sugar<\/a> from Brazil on Monday, with another 50k tons <a target=\"_blank\" href=\"https:\/\/www.sis.gov.eg\/Story\/183962\/Egypt-strategic-reserves-of-sugar-enough-until-February-2024-%E2%80%93-Ministry?lang=en-us\" style=\"\" rel=\"noopener\">expected to arrive<\/a> within the month. Meanwhile, the Supply Ministry said on Wednesday that it\u2019s working towards importing another <a target=\"_blank\" href=\"https:\/\/shorturl.at\/wDI02\" style=\"\" rel=\"noopener\">200k tons of raw sugar<\/a> in the coming months to maintain at least six months worth of supply in reserve.<\/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\/commodities\/\">commodities<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/food-security\/\">food security<\/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\/sugar\/\">Sugar<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/supply-ministry\/\">Supply 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=\"607433\" 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=\"607433\">\r\n            \r\n                <div class=\"issue-story-header text-center\">\r\n                    <div class=\"index-number\">6<\/div>\r\n\r\n                    <p class=\"f-graphik\">Moves<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2023\/10\/03\/omar-shoukry-is-the-new-ir-head-of-gsk-plus-khaled-daader-steps-down-at-juhayna\/\">\r\n                            Omar Shoukry is the new IR head of GSK. PLUS: Daader resigns from Juhayna                        <\/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\/10\/03\/omar-shoukry-is-the-new-ir-head-of-gsk-plus-khaled-daader-steps-down-at-juhayna\/\" 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\/10\/03\/omar-shoukry-is-the-new-ir-head-of-gsk-plus-khaled-daader-steps-down-at-juhayna\/')\">\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\/10\/03\/omar-shoukry-is-the-new-ir-head-of-gsk-plus-khaled-daader-steps-down-at-juhayna\/\">\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=Omar Shoukry is the new IR head of GSK. PLUS: Khaled Daader steps down at Juhayna&url=https:\/\/enterpriseam.com\/egypt\/2023\/10\/03\/omar-shoukry-is-the-new-ir-head-of-gsk-plus-khaled-daader-steps-down-at-juhayna\/\">\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\/10\/03\/omar-shoukry-is-the-new-ir-head-of-gsk-plus-khaled-daader-steps-down-at-juhayna\/&title=Omar Shoukry is the new IR head of GSK. PLUS: Khaled Daader steps down at Juhayna\">\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=Omar+Shoukry+is+the+new+IR+head+of+GSK.+PLUS%3A+Khaled+Daader+steps+down+at+Juhayna+https%3A%2F%2Fenterpriseam.com%2Fegypt%2F2023%2F10%2F03%2Fomar-shoukry-is-the-new-ir-head-of-gsk-plus-khaled-daader-steps-down-at-juhayna%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\/10\/03\/omar-shoukry-is-the-new-ir-head-of-gsk-plus-khaled-daader-steps-down-at-juhayna\/\">\r\n                    <div class=\"photo photo--above\">\r\n                        <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2023\/10\/153.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"607434\" data-permalink=\"https:\/\/enterpriseam.com\/egypt\/2023\/10\/03\/omar-shoukry-is-the-new-ir-head-of-gsk-plus-khaled-daader-steps-down-at-juhayna\/153-jpg-35\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2023\/10\/153.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"153.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2023\/10\/153.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2023\/10\/153.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-607433\" class=\"content-area-description single-story post-607433 post type-post status-publish format-standard has-post-thumbnail hentry category-moves tag-enterpriseam tag-glaxosmithkline tag-juhayna tag-moves tag-pharma 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\/10\/.61ab5850-b4d8-40c0-bea9-c28233b98587.mp3\"><\/audio><\/figure>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\">Two EGX-listed companies yesterday announced key personnel changes at their investor relations departments:<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong> #1- <\/strong><strong> Khaled Daader <\/strong> (<a target=\"_blank\" href=\"https:\/\/www.linkedin.com\/in\/khaled-daader-0aa0b0a0\/?originalSubdomain=eg\" style=\"\" rel=\"noopener\">LinkedIn<\/a>) has resigned from his position as the <strong> head of <\/strong><strong> investor relations <\/strong> at <strong> Juhayna Food Industries <\/strong> effective 30 September, the company said in an <a target=\"_blank\" href=\"https:\/\/ent.news\/2023\/10\/164.pdf\" style=\"\" rel=\"noopener\">EGX disclosure (pdf<\/a> <a target=\"_blank\" href=\"https:\/\/ent.news\/2023\/10\/164.pdf\" style=\"\" rel=\"noopener\">)<\/a>. Daader had led the company\u2019s IR unit since May 2020. The disclosure did not name Daader\u2019s replacement, saying instead that the dairy foods giant would disclose the details once the individual is hired. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong> #2- <\/strong> Pharma giant <strong> GlaxoSmithKline Egypt <\/strong> has appointed <strong> Omar Shoukry <\/strong> (<a target=\"_blank\" href=\"https:\/\/www.linkedin.com\/in\/omar-shoukry-7939a164\/\" style=\"\" rel=\"noopener\">LinkedIn<\/a>) as its new<strong> investors relations head <\/strong> after having served as the company\u2019s communications and government relations head since 2022, it said in <a target=\"_blank\" href=\"https:\/\/ent.news\/2023\/10\/151.pdf\" style=\"\" rel=\"noopener\">a<\/a> <a target=\"_blank\" href=\"https:\/\/ent.news\/2023\/10\/151.pdf\" style=\"\" rel=\"noopener\">disclosure<\/a> <a target=\"_blank\" href=\"https:\/\/ent.news\/2023\/10\/151.pdf\" style=\"\" rel=\"noopener\">to the EGX (pdf)<\/a> Sunday. Shoukry has previously held managerial positions at Visa, Philip Morris, Dow Chemical, and Pfizer. The appointment follows the resignation of former IR head Ahmed Ismail. <\/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\/glaxosmithkline\/\">GlaxoSmithKline<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/juhayna\/\">Juhayna<\/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\/pharma\/\">pharma<\/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=\"607435 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=\"607435\">\r\n            \r\n            <div class=\"story__body\">\r\n\r\n                <a href=\"https:\/\/enterpriseam.com\/egypt\/2023\/10\/03\/607435\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-607435\" class=\"content-area-description single-story post-607435 post type-post status-publish format-standard hentry category-advertiser wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<p><span style=\"font-weight:400;\"><a href=\"https:\/\/imagine.sodic.com\" target=\"_blank\" rel=\"noopener\"><img data-recalc-dims=\"1\" decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2023\/7\/927.jpg?ssl=1\"><\/a><\/span><\/p>\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"607436\" 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=\"607436\">\r\n            \r\n                <div class=\"issue-story-header text-center\">\r\n                    <div class=\"index-number\">7<\/div>\r\n\r\n                    <p class=\"f-graphik\">LAST NIGHT\u2019S TALK SHOWS<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2023\/10\/03\/el-sisi-announces-bid-for-re-election-2\/\">\r\n                            El Sisi\u2019s announcement that he will seek a third term dominated the airwaves last night                        <\/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\/10\/03\/el-sisi-announces-bid-for-re-election-2\/\" 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\/10\/03\/el-sisi-announces-bid-for-re-election-2\/')\">\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\/10\/03\/el-sisi-announces-bid-for-re-election-2\/\">\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=El Sisi announces bid for re-election&url=https:\/\/enterpriseam.com\/egypt\/2023\/10\/03\/el-sisi-announces-bid-for-re-election-2\/\">\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\/10\/03\/el-sisi-announces-bid-for-re-election-2\/&title=El Sisi announces bid for re-election\">\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=El+Sisi+announces+bid+for+re-election+https%3A%2F%2Fenterpriseam.com%2Fegypt%2F2023%2F10%2F03%2Fel-sisi-announces-bid-for-re-election-2%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\/10\/03\/el-sisi-announces-bid-for-re-election-2\/\">\r\n                    <div class=\"photo photo--above\">\r\n                        <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2023\/10\/192.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"607437\" data-permalink=\"https:\/\/enterpriseam.com\/egypt\/2023\/10\/03\/el-sisi-announces-bid-for-re-election-2\/192-jpg-16\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2023\/10\/192.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"192.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2023\/10\/192.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2023\/10\/192.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-607436\" class=\"content-area-description single-story post-607436 post type-post status-publish format-standard has-post-thumbnail hentry category-last-nights-talk-shows tag-abdel-fattah-el-sisi tag-election-2023 tag-enterpriseam tag-last-nights-talk-shows wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<figure class=\"wp-block-audio mb-0\"><audio controls preload=\"metadata\" src=\"https:\/\/s3.us-east-1.amazonaws.com\/ent.news\/audio\/2023\/10\/.d0966b08-c5d2-4734-89fe-e0c69aca7f2c.mp3\"><\/audio><\/figure>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong> The t <\/strong><strong> op story on the airwaves last n <\/strong><strong> ight: President Abdel Fattah El Sisi officially <\/strong><strong> announcing he will run for a third term <\/strong>in the upcoming presidential election. El Sisi declared his candidacy during the final day of the \u201cStory of a Homeland\u201d conference (<a target=\"_blank\" href=\"https:\/\/www.facebook.com\/KelmaAkhira\/videos\/826723849125579\" style=\"\" rel=\"noopener\">watch, runtime: 19:20<\/a>). Masaa DMC (<a target=\"_blank\" href=\"https:\/\/www.facebook.com\/watch\/?v=327903279765155\" style=\"\" rel=\"noopener\">watch, runtime: 3:41<\/a>), Ala Masouleety (<a target=\"_blank\" href=\"https:\/\/www.facebook.com\/watch\/?v=857243485726765\" style=\"\" rel=\"noopener\">watch, runtime: 4:32<\/a>), El Hekaya (<a target=\"_blank\" href=\"https:\/\/www.facebook.com\/watch\/?v=6715979885158195\" style=\"\" rel=\"noopener\">watch, runtime: 1:47<\/a>) and Al Hayah Al Youm (<a target=\"_blank\" href=\"https:\/\/www.facebook.com\/watch\/live\/?ref=watch_permalink&v=1368747994048342\" style=\"\" rel=\"noopener\">watch, runtime: 48:27<\/a>) all had coverage.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong> El <\/strong><strong> Sisi appoints his campaign ma <\/strong><strong> nager: <\/strong> The news that Mahmoud Fawzi, the former head of the Supreme Media Council, has been chosen to head Sisi\u2019s election campaign received airtime from Lamees El Hadidi on Kelma Akhira (<a target=\"_blank\" href=\"https:\/\/www.facebook.com\/watch\/?v=161236213708143\" style=\"\" rel=\"noopener\">watch, runtime: 2:09<\/a>) and Lobna Asal on Al Hayah Al Youm (<a target=\"_blank\" href=\"https:\/\/www.facebook.com\/watch\/?v=647177260568626\" style=\"\" rel=\"noopener\">watch, runtime: 2:13<\/a>). Fawzi discussed the appointment during an interview with Osama Kamal on Masaa DMC (<a target=\"_blank\" href=\"https:\/\/www.facebook.com\/watch\/?v=1359777638300918\" style=\"\" rel=\"noopener\">watch, runtime: 9:15<\/a>).<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong> The c <\/strong><strong> andidate list so far: <\/strong> El Hadidi walked viewers through the current list of candidates for the election (<a target=\"_blank\" href=\"https:\/\/www.youtube.com\/watch?v=JE20mgoMgv4&ab_channel=%D9%83%D9%84%D9%85%D8%A9%D8%A3%D8%AE%D9%8A%D8%B1%D8%A9%D9%85%D8%B9%D9%84%D9%85%D9%8A%D8%B3%D8%A7%D9%84%D8%AD%D8%AF%D9%8A%D8%AF%D9%8A\" style=\"\" rel=\"noopener\">watch, runtime: 3:33<\/a>). They include: <\/p>\n<ul>\n<li>El Sisi followed <\/li>\n<li>Farid Zahran (Egyptian Social Democratic Party)<\/li>\n<li>Abdel Sanad Yamama (Al Wafd) <\/li>\n<li>Hazem Omar (People\u2019s Republican Party)<\/li>\n<\/ul>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\">All four have collected the signatures they need to make it onto the preliminary list of candidates. Omar will need the Senate to accept his resignation from the Senate before officially joining the race.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong> TBD: <\/strong>Whether Dostour Party chair <strong> Gameela Ismail <\/strong> and or the former head of the leftist Karama Party <strong> Ahmed Tantawi <\/strong> will get enough backing to join the ballot. The National Elections Authority will announce the final list of candidates on 9 November. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong> In other election miscellany: <\/strong> El Hadidi (watch, runtime: <a target=\"_blank\" href=\"https:\/\/www.facebook.com\/KelmaAkhira\/videos\/1051489079185940\" style=\"\" rel=\"noopener\">3:27<\/a> | <a target=\"_blank\" href=\"https:\/\/www.facebook.com\/watch\/?v=831560928426594\" style=\"\" rel=\"noopener\">1:40<\/a>) and Amir Adib (<a target=\"_blank\" href=\"https:\/\/www.facebook.com\/watch\/?v=6715979885158195\" style=\"\" rel=\"noopener\">watch,<\/a> <a target=\"_blank\" href=\"https:\/\/www.facebook.com\/watch\/?v=6715979885158195\" style=\"\" rel=\"noopener\">runtime: 1:47<\/a>) both called on their viewers to vote in the election. The El Hekaya host also called for wider press freedoms to express opinions (watch, runtime: <a target=\"_blank\" href=\"https:\/\/www.facebook.com\/watch\/?v=1511323619615504\" style=\"\" rel=\"noopener\">27:35<\/a> | <a target=\"_blank\" href=\"https:\/\/www.facebook.com\/watch\/?v=685308726832020\" style=\"\" rel=\"noopener\">4:48<\/a>).<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong> ALSO LAST NIGHT- <\/strong><strong> Ismailia fire: <\/strong> The Ismailia Security Directorate was left a charred wreck after <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/ar\/news\/story\/13e14cb0-bc4a-4ed8-a731-8846bdb180d5\" style=\"\" rel=\"noopener\">a fire broke<\/a> <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/ar\/news\/story\/13e14cb0-bc4a-4ed8-a731-8846bdb180d5\" style=\"\" rel=\"noopener\">out<\/a> in the building on Sunday night. Kelma Akhira (<a target=\"_blank\" href=\"https:\/\/www.youtube.com\/watch?v=u0mIHJoTcJ4&ab_channel=%D9%83%D9%84%D9%85%D8%A9%D8%A3%D8%AE%D9%8A%D8%B1%D8%A9%D9%85%D8%B9%D9%84%D9%85%D9%8A%D8%B3%D8%A7%D9%84%D8%AD%D8%AF%D9%8A%D8%AF%D9%8A\" style=\"\" rel=\"noopener\">watch, runtime: 5:02<\/a>) and El Hekaya (<a target=\"_blank\" href=\"https:\/\/www.facebook.com\/watch\/?v=1364739347459904\" style=\"\" rel=\"noopener\">watch, runtime: 7:24<\/a>) dedicated coverage to the cause of the accident and the losses it caused. <\/p>\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/abdel-fattah-el-sisi\/\">Abdel Fattah El Sisi<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/election-2023\/\">Election 2023<\/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                    <\/div>\n    <\/div>\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"607438\" class=\"issue-section \">\n<div class=\"issue-section__content\">\n<div class=\"stories\">      \r\n<section id=\"advertiser\" class=\"enterprise-adv issue-section\">\r\n    <div class=\"issue-section__content\" style=\"flex-direction: column;\">\r\n  \r\n                <h4 class=\"wp-block-heading has-text-align-center has-normal-font-size\">\r\n                <span class=\"has-primary-color stk-highlight\">This publication is proudly sponsored by<\/span><\/h4>\r\n                \r\n\r\n                \r\n                <div class=\"wp-block-stackable-carousel alignwide stk-block-carousel stk--is-slide stk--infinite-scroll stk--arrows-justify-space-between stk--arrows-align-center stk-block stk-a38cfb2 sponsor-slider-container mb-0\" data-slides-to-show=\"3\" data-block-id=\"a38cfb2\"><style>.stk-a38cfb2 {--slides-to-show:3 !important;}.stk-a38cfb2 .stk-block-carousel__button{background:#00000099 !important;fill:#FFFFFF !important;border-radius:4px !important;}.stk-a38cfb2 .stk-block-carousel__button svg.ugb-custom-icon :is(g, path, rect, polygon, ellipse){fill:#FFFFFF !important;}<\/style>\r\n                <div class=\"stk-block-carousel__content-wrapper\">\r\n                <div class=\"stk-row stk-inner-blocks stk-block-content stk-block-carousel__slider-wrapper stk-content-align stk-a38cfb2-column alignwide\">\r\n                <div class=\"stk-block-carousel__slider\" role=\"list\" data-autoplay=\"4000\" data-label-slide-of=\"Slide %%d of %%d\">\r\n            <div class=\"wp-block-stackable-column stk-block-column stk-column stk-block stk-46c5f99\" data-v=\"4\" data-block-id=\"46c5f99\"><div class=\"stk-column-wrapper stk-block-column__content stk-container stk-46c5f99-container stk--no-background stk--no-padding\"><div class=\"stk-block-content stk-inner-blocks stk-46c5f99-inner-blocks\">\r\n            <div class=\"issue-sponsor-slide\">\r\n                <img data-recalc-dims=\"1\" decoding=\"async\" draggable=\"false\" src=\"https:\/\/i0.wp.com\/ent.news\/internal\/240922.png?ssl=1\">\r\n                <div class=\"overlay\"><\/div>\r\n                <div class=\"content\">\r\n                    <a draggable=\"false\" href=\"https:\/\/www.hsbc.com.eg\/\" target=\"_blank\" class=\"logo\" rel=\"noopener\">\r\n                        <img decoding=\"async\" draggable=\"false\" src=\"https:\/\/ent.news\/internal\/27489.svg\" alt=\"\">\r\n                    <\/a>\r\n                    <span>Opening up a world of opportunity<\/span>\r\n                <\/div>\r\n            <\/div>\r\n            <\/div><\/div><\/div>\r\n        \r\n            <div class=\"wp-block-stackable-column stk-block-column stk-column stk-block stk-pl6sbzp\" data-v=\"4\" data-block-id=\"pl6sbzp\"><div class=\"stk-column-wrapper stk-block-column__content stk-container stk-pl6sbzp-container stk--no-background stk--no-padding\"><div class=\"stk-block-content stk-inner-blocks stk-pl6sbzp-inner-blocks\">\r\n            <div class=\"issue-sponsor-slide\">\r\n                <img data-recalc-dims=\"1\" decoding=\"async\" draggable=\"false\" src=\"https:\/\/i0.wp.com\/ent.news\/internal\/240923.png?ssl=1\">\r\n                <div class=\"overlay\"><\/div>\r\n                <div class=\"content\">\r\n                    <a draggable=\"false\" href=\"https:\/\/efghldg.com\/en\" target=\"_blank\" class=\"logo\" rel=\"noopener\">\r\n                        <img decoding=\"async\" draggable=\"false\" src=\"https:\/\/ent.news\/internal\/27488.svg\" alt=\"\">\r\n                    <\/a>\r\n                    <span>Realize More<\/span>\r\n                <\/div>\r\n            <\/div>\r\n            <\/div><\/div><\/div>\r\n        \r\n            <div class=\"wp-block-stackable-column stk-block-column stk-column stk-block stk-lfmxpor\" data-v=\"4\" data-block-id=\"lfmxpor\"><div class=\"stk-column-wrapper stk-block-column__content stk-container stk-lfmxpor-container stk--no-background stk--no-padding\"><div class=\"stk-block-content stk-inner-blocks stk-lfmxpor-inner-blocks\">\r\n            <div class=\"issue-sponsor-slide\">\r\n                <img data-recalc-dims=\"1\" decoding=\"async\" draggable=\"false\" src=\"https:\/\/i0.wp.com\/ent.news\/internal\/240924.png?ssl=1\">\r\n                <div class=\"overlay\"><\/div>\r\n                <div class=\"content\">\r\n                    <a draggable=\"false\" href=\"https:\/\/www.sodic.com\/\" target=\"_blank\" class=\"logo\" rel=\"noopener\">\r\n                        <img decoding=\"async\" draggable=\"false\" src=\"https:\/\/ent.news\/internal\/27487.svg\" alt=\"\">\r\n                    <\/a>\r\n                    <span>Live More<\/span>\r\n                <\/div>\r\n            <\/div>\r\n            <\/div><\/div><\/div>\r\n        \r\n            <div class=\"wp-block-stackable-column stk-block-column stk-column stk-block stk-cp122t9\" data-v=\"4\" data-block-id=\"cp122t9\"><div class=\"stk-column-wrapper stk-block-column__content stk-container stk-cp122t9-container stk--no-background stk--no-padding\"><div class=\"stk-block-content stk-inner-blocks stk-cp122t9-inner-blocks\">\r\n            <div class=\"issue-sponsor-slide\">\r\n                <img data-recalc-dims=\"1\" decoding=\"async\" draggable=\"false\" src=\"https:\/\/i0.wp.com\/ent.news\/internal\/240925.png?ssl=1\">\r\n                <div class=\"overlay\"><\/div>\r\n                <div class=\"content\">\r\n                    <a draggable=\"false\" href=\"https:\/\/weareinfinity.com\/\" target=\"_blank\" class=\"logo\" rel=\"noopener\">\r\n                        <img decoding=\"async\" draggable=\"false\" src=\"https:\/\/i0.wp.com\/ent.news\/internal\/27483.png?fit=300%2C300&#038;ssl=1\" alt=\"\">\r\n                    <\/a>\r\n                    <span>Powering with nature<\/span>\r\n                <\/div>\r\n            <\/div>\r\n            <\/div><\/div><\/div>\r\n        \r\n            <div class=\"wp-block-stackable-column stk-block-column stk-column stk-block stk-r8s15yx\" data-v=\"4\" data-block-id=\"r8s15yx\"><div class=\"stk-column-wrapper stk-block-column__content stk-container stk-r8s15yx-container stk--no-background stk--no-padding\"><div class=\"stk-block-content stk-inner-blocks stk-r8s15yx-inner-blocks\">\r\n            <div class=\"issue-sponsor-slide\">\r\n                <img data-recalc-dims=\"1\" decoding=\"async\" draggable=\"false\" src=\"https:\/\/i0.wp.com\/ent.news\/internal\/240926.jpg?ssl=1\">\r\n                <div class=\"overlay\"><\/div>\r\n                <div class=\"content\">\r\n                    <a draggable=\"false\" href=\"https:\/\/www.qalaaholdings.com\/\" target=\"_blank\" class=\"logo\" rel=\"noopener\">\r\n                        <img decoding=\"async\" draggable=\"false\" src=\"https:\/\/ent.news\/internal\/110691.svg\" alt=\"\">\r\n                    <\/a>\r\n                    <span>Driving growth<\/span>\r\n                <\/div>\r\n            <\/div>\r\n            <\/div><\/div><\/div>\r\n        <\/div><div class=\"stk-block-carousel__buttons\"><button class=\"stk-block-carousel__button stk-block-carousel__button__prev\" aria-label=\"Previous slide\"><svg aria-hidden=\"true\" focusable=\"false\" data-prefix=\"fas\" data-icon=\"chevron-left\" class=\"svg-inline--fa fa-chevron-left\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" viewBox=\"0 0 320 512\" width=\"32\" height=\"32\"><path d=\"M34.52 239.03L228.87 44.69c9.37-9.37 24.57-9.37 33.94 0l22.67 22.67c9.36 9.36 9.37 24.52.04 33.9L131.49 256l154.02 154.75c9.34 9.38 9.32 24.54-.04 33.9l-22.67 22.67c-9.37 9.37-24.57 9.37-33.94 0L34.52 272.97c-9.37-9.37-9.37-24.57 0-33.94z\"><\/path><\/svg><\/button><button class=\"stk-block-carousel__button stk-block-carousel__button__next\" aria-label=\"Next slide\"><svg aria-hidden=\"true\" focusable=\"false\" data-prefix=\"fas\" data-icon=\"chevron-right\" class=\"svg-inline--fa fa-chevron-right\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" viewBox=\"0 0 320 512\" width=\"32\" height=\"32\"><path d=\"M285.476 272.971L91.132 467.314c-9.373 9.373-24.569 9.373-33.941 0l-22.667-22.667c-9.357-9.357-9.375-24.522-.04-33.901L188.505 256 34.484 101.255c-9.335-9.379-9.317-24.544.04-33.901l22.667-22.667c9.373-9.373 24.569-9.373 33.941 0L285.475 239.03c9.373 9.372 9.373 24.568.001 33.941z\"><\/path><\/svg><\/button><\/div><\/div><div class=\"stk-block-carousel__dots\" role=\"list\" data-label=\"Slide %%d\"><\/div><\/div><\/div>\r\n        <\/div>\r\n<\/section> \r\n\r\n\n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"607439\" 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=\"607439\">\r\n            \r\n                <div class=\"issue-story-header text-center\">\r\n                    <div class=\"index-number\">8<\/div>\r\n\r\n                    <p class=\"f-graphik\">EGYPT IN THE NEWS<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2023\/10\/03\/in-the-intl-press-38-injured-as-fire-engulfs-ismailia-security-directorate-hq\/\">\r\n                            38 injured as fire engulfs Ismailia Security Directorate HQ                        <\/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\/10\/03\/in-the-intl-press-38-injured-as-fire-engulfs-ismailia-security-directorate-hq\/\" 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\/10\/03\/in-the-intl-press-38-injured-as-fire-engulfs-ismailia-security-directorate-hq\/')\">\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\/10\/03\/in-the-intl-press-38-injured-as-fire-engulfs-ismailia-security-directorate-hq\/\">\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=In the int\u2019l press: 38 injured as fire engulfs Ismailia Security Directorate HQ&url=https:\/\/enterpriseam.com\/egypt\/2023\/10\/03\/in-the-intl-press-38-injured-as-fire-engulfs-ismailia-security-directorate-hq\/\">\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\/10\/03\/in-the-intl-press-38-injured-as-fire-engulfs-ismailia-security-directorate-hq\/&title=In the int\u2019l press: 38 injured as fire engulfs Ismailia Security Directorate HQ\">\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=In+the+int%E2%80%99l+press%3A+38+injured+as+fire+engulfs+Ismailia+Security+Directorate+HQ+https%3A%2F%2Fenterpriseam.com%2Fegypt%2F2023%2F10%2F03%2Fin-the-intl-press-38-injured-as-fire-engulfs-ismailia-security-directorate-hq%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\/10\/03\/in-the-intl-press-38-injured-as-fire-engulfs-ismailia-security-directorate-hq\/\">\r\n                    <div class=\"photo photo--above\">\r\n                        <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2023\/10\/185.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"607440\" data-permalink=\"https:\/\/enterpriseam.com\/egypt\/2023\/10\/03\/in-the-intl-press-38-injured-as-fire-engulfs-ismailia-security-directorate-hq\/185-jpg-18\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2023\/10\/185.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"185.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2023\/10\/185.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2023\/10\/185.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-607439\" class=\"content-area-description single-story post-607439 post type-post status-publish format-standard has-post-thumbnail hentry category-egypt-in-the-news tag-diplomacy tag-egypt-us-relations tag-enterpriseam 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\/10\/.c4bd9289-b018-48a1-896a-53e919b65999.mp3\"><\/audio><\/figure>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong> Dominating the headlines on Egypt in the international press this morning<\/strong>: A massive fire broke out at the headquarters of the Ismailia Security Directorate on Monday, injuring at least 38 people. Videos surfaced in social media in the early hours of the morning showing the building engulfed in flames. The cause of the fire is unknown. (<a target=\"_blank\" href=\"https:\/\/apnews.com\/article\/egypt-fire-police-ismailiia-suez-canal-e1da717f350177214f358c01c949d70c\" style=\"\" rel=\"noopener\">Associated Press<\/a> | <a target=\"_blank\" href=\"https:\/\/www.reuters.com\/world\/africa\/huge-fire-erupts-police-premises-egypts-ismailia-local-media-2023-10-02\/\" style=\"\" rel=\"noopener\">Reuters<\/a> | <a target=\"_blank\" href=\"https:\/\/www.france24.com\/en\/live-news\/20231002-at-least-38-injured-in-police-station-fire-in-egypt-s-ismailia\" style=\"\" rel=\"noopener\">AFP<\/a> | <a target=\"_blank\" href=\"https:\/\/www.bbc.com\/news\/world-middle-east-66980482\" style=\"\" rel=\"noopener\">BBC<\/a> | <a target=\"_blank\" href=\"https:\/\/www.thenationalnews.com\/mena\/egypt\/2023\/10\/02\/huge-fire-erupts-at-police-facility-in-egypts-ismailia\/\" style=\"\" rel=\"noopener\">The National<\/a> | <a target=\"_blank\" href=\"https:\/\/english.alarabiya.net\/News\/middle-east\/2023\/10\/02\/At-least-100-injured-as-massive-fire-breaks-out-at-police-facility-in-Egypt-s-Ismalia\" style=\"\" rel=\"noopener\">Al Arabiya<\/a> | <a target=\"_blank\" href=\"https:\/\/english.news.cn\/20231002\/f0bd1e24bf3c4e45a53b68bd4f36ea02\/c.html\" style=\"\" rel=\"noopener\">Xinhua<\/a>)<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong> Menendez in the dock in May: <\/strong> US Senator Robert Menendez will stand trial on 6 May on corruption charges. The New Jersey Democratic senator has been <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/cc488899-5fab-4a67-85c4-217db4f0c82e\" style=\"\" rel=\"noopener\">accused<\/a> of accepting bribes from a businessman linked to Egyptian officials in return for promoting the country\u2019s interests in Congress. (<a target=\"_blank\" href=\"https:\/\/apnews.com\/article\/bob-menendez-bribery-indictment-trial-345ccb900a934f277caefb21033764e0\" style=\"\" rel=\"noopener\">Associated Press<\/a> | <a target=\"_blank\" href=\"https:\/\/www.reuters.com\/article\/idUSKCN3121O1\" style=\"\" rel=\"noopener\">Reuters<\/a> | <a target=\"_blank\" href=\"https:\/\/www.bloomberg.com\/news\/articles\/2023-10-02\/bob-menendez-corruption-trial-date-set-for-may-6\" style=\"\" rel=\"noopener\">Bloomberg<\/a> | <a target=\"_blank\" href=\"https:\/\/edition.cnn.com\/2023\/10\/02\/politics\/senator-menendez-trial-date-may-6\/index.html\" style=\"\" rel=\"noopener\">CNN<\/a>)<\/p>\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/diplomacy\/\">DIPLOMACY<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/egypt-us-relations\/\">Egypt-US relations<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/politics\/\">politics<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                    <\/div>\n    <\/div>\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"607441\" class=\"issue-section \">\n<div class=\"issue-section__content\">\n<div class=\"stories\">    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"607442\" 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=\"607442\">\r\n            \r\n                <div class=\"issue-story-header text-center\">\r\n                    <div class=\"index-number\">9<\/div>\r\n\r\n                    <p class=\"f-graphik\">Also on our Radar<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2023\/10\/03\/phd-to-expand-palm-hills-october-after-acquiring-new-land-plot-plus-more-chinese-investment\/\">\r\n                            PHD to expand Palm Hills October after acquiring new land plot.  PLUS: More Chinese investment?                        <\/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\/10\/03\/phd-to-expand-palm-hills-october-after-acquiring-new-land-plot-plus-more-chinese-investment\/\" 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\/10\/03\/phd-to-expand-palm-hills-october-after-acquiring-new-land-plot-plus-more-chinese-investment\/')\">\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\/10\/03\/phd-to-expand-palm-hills-october-after-acquiring-new-land-plot-plus-more-chinese-investment\/\">\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=PHD to expand Palm Hills October after acquiring new land plot. PLUS: More Chinese investment?&url=https:\/\/enterpriseam.com\/egypt\/2023\/10\/03\/phd-to-expand-palm-hills-october-after-acquiring-new-land-plot-plus-more-chinese-investment\/\">\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\/10\/03\/phd-to-expand-palm-hills-october-after-acquiring-new-land-plot-plus-more-chinese-investment\/&title=PHD to expand Palm Hills October after acquiring new land plot. PLUS: More Chinese investment?\">\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=PHD+to+expand+Palm+Hills+October+after+acquiring+new+land+plot.+PLUS%3A+More+Chinese+investment%3F+https%3A%2F%2Fenterpriseam.com%2Fegypt%2F2023%2F10%2F03%2Fphd-to-expand-palm-hills-october-after-acquiring-new-land-plot-plus-more-chinese-investment%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\/10\/03\/phd-to-expand-palm-hills-october-after-acquiring-new-land-plot-plus-more-chinese-investment\/\">\r\n                    <div class=\"photo photo--above\">\r\n                        <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2023\/10\/187.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"607443\" data-permalink=\"https:\/\/enterpriseam.com\/egypt\/2023\/10\/03\/phd-to-expand-palm-hills-october-after-acquiring-new-land-plot-plus-more-chinese-investment\/187-jpg-24\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2023\/10\/187.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"187.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2023\/10\/187.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2023\/10\/187.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-607442\" class=\"content-area-description single-story post-607442 post type-post status-publish format-standard has-post-thumbnail hentry category-also-on-our-radar tag-also-on-our-radar tag-china tag-egypt-china-relations tag-egypt-saudi-relations tag-egyptian-propylene-and-polypropylene tag-enterpriseam tag-investment-watch tag-manufacturing tag-new-urban-communities-authority tag-palm-hills-developments tag-real-estate tag-saudi-arabia tag-state-privatization-program 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_408146\"\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\/408144.svg\" alt=\"\" class=\"wp-image-408144\"\/><\/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\/10\/.d9b9f31e-1303-42a8-855a-7a00d61b26e3.mp3\"><\/audio><\/figure><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong> REAL ESTATE- <\/strong><\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong> PHD to expand Palm Hills October following land purchase: <\/strong>Palm Hills Development has acquired a c.1.6 mn square-meter plot of land from the New Urban Communities Authority (NUCA), the company said in <a target=\"_blank\" href=\"https:\/\/ent.news\/2023\/10\/150.pdf\" style=\"\" rel=\"noopener\">a press release (<\/a> <a target=\"_blank\" href=\"https:\/\/ent.news\/2023\/10\/150.pdf\" style=\"\" rel=\"noopener\">pdf<\/a> <a target=\"_blank\" href=\"https:\/\/ent.news\/2023\/10\/150.pdf\" style=\"\" rel=\"noopener\">)<\/a>. The land is next to the developer\u2019s Palm Hills October project, and will be used for a mixed-use development featuring villas, commercial facilities, a five-star hotel, and an extension of Palm Hills Sporting Club The company expects it to generate EGP 85 bn in sales proceeds over a 5-7-year period. PHD did not disclose how much it paid to acquire the land.<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong> INVESTMENT- <\/strong><\/p><p style=\"padding-top:-1pt;margin:0;padding-left:0;padding-bottom:-1pt;line-height:1.15;orphans:2;widows:2;text-align:left;padding-right:0\"><strong> Chinese company to launch a USD 350 mn waste recycling project? <\/strong> A Chinese recycling company is in talks with the General Authority for Investment and Freezones (GAFI) to launch a recycling project with investment of up to USD 350 mn, Haier Egypt General Manager Ahmed El Gendy told Al Mal (<a target=\"_blank\" href=\"https:\/\/www.youtube.com\/watch?v=YhHiDBQ-_jE&amp;pp=ygUhINij2K3ZhdivINin2YTYrNmG2K_ZiSDYp9mE2YXYp9mE\" style=\"\" rel=\"noopener\">wa<\/a> <a target=\"_blank\" href=\"https:\/\/www.youtube.com\/watch?v=YhHiDBQ-_jE&amp;pp=ygUhINij2K3ZhdivINin2YTYrNmG2K_ZiSDYp9mE2YXYp9mE\" style=\"\" rel=\"noopener\">tch, runtime: 4<\/a> <a target=\"_blank\" href=\"https:\/\/www.youtube.com\/watch?v=YhHiDBQ-_jE&amp;pp=ygUhINij2K3ZhdivINin2YTYrNmG2K_ZiSDYp9mE2YXYp9mE\" style=\"\" rel=\"noopener\">7:28<\/a>). El Gendy did not disclose the name of the firm but said it was the biggest recycling player in China.<\/p><p style=\"padding-top:-1pt;margin:0;padding-left:0;padding-bottom:-1pt;line-height:1.15;orphans:2;widows:2;text-align:left;padding-right:0\"><strong> The golden license is a draw: <\/strong> The government\u2019s decision to award Haier Egypt with a golden license prompted the firm to open talks with GAFI over the potential project, according to El Gendy. The Chinese home appliances manufacturer <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/b7089f22-eb65-4418-81c1-c5fb17e42672\" style=\"\" rel=\"noopener\">received the license<\/a> in December for its planned factory near Tenth of Ramadan City, into which El Gendy said it will invest USD 160 mn.<\/p><p style=\"padding-top:-1pt;margin:0;padding-left:0;padding-bottom:-1pt;line-height:1.15;orphans:2;widows:2;text-align:left;padding-right:0\"><strong> USD or CNY? <\/strong> Egyptian and Chinese authorities <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/c8341f69-c9f5-4504-8470-e5d109f40c83\" style=\"\" rel=\"noopener\">are in talks<\/a> to allow Chinese companies to use CNY to invest in local projects, rather than the USD.<\/p><p style=\"padding-top:-1pt;margin:0;padding-left:0;padding-bottom:-1pt;line-height:1.15;orphans:2;widows:2;text-align:left;padding-right:0\"><strong> PRIVATIZATION- <\/strong><\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong> Stake in <\/strong><strong><a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/ca6bebdc-6bf4-4ffc-a8d6-bca802259668\" style=\"\" rel=\"noopener\">another<\/a><\/strong><strong> plastics manufacturer up for grabs? <\/strong>The government is looking to sell 10-15% of its 22% stake in state-owned thermoplastic producer Egyptian Propylene and Polypropylene (EPP) to a foreign investor, reports <a target=\"_blank\" href=\"https:\/\/bit.ly\/3Q3I4Fa\" style=\"\" rel=\"noopener\">Al Ma<\/a> <a target=\"_blank\" href=\"https:\/\/bit.ly\/3Q3I4Fa\" style=\"\" rel=\"noopener\">l<\/a>, citing sources it says are in the know. That amounts to 2.2-3.3% of the company, according to our math. An unnamed Saudi private company has reportedly expressed interest in acquiring the shares. Neither the status of negotiations nor the finalized stake sizes and valuations were disclosed.<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong> Remember: <\/strong> EPP is one of 35 state-owned companies and assets <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/e8a0da43-f922-4a49-b3a9-839f397f8ce4\" style=\"\" rel=\"noopener\">earmarked for privatization<\/a>. The government is aiming to raise USD 5 bn from asset sales between October 2023 and June 2024.<\/p>\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/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\/china\/\">China<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/egypt-china-relations\/\">Egypt-China relations<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/egypt-saudi-relations\/\">Egypt-Saudi relations<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/egyptian-propylene-and-polypropylene\/\">Egyptian Propylene and Polypropylene<\/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\/new-urban-communities-authority\/\">New Urban Communities Authority<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/palm-hills-developments\/\">Palm Hills Developments<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/real-estate\/\">real estate<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/saudi-arabia\/\">Saudi Arabia<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/state-privatization-program\/\">state privatization program<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                    <\/div>\n    <\/div>\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"607444\" class=\"issue-section markets\">\n<div class=\"issue-section__content\">\n<div class=\"stories\">            <!-- Show divider before story section -->\r\n        <div \r\n            class=\"\r\n                story-section            \"\r\n            id=\"607444\">\r\n            \r\n                <div class=\"issue-story-header text-center\">\r\n                    <div class=\"index-number\">10<\/div>\r\n\r\n                    <p class=\"f-graphik\">PLANET FINANCE<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2023\/10\/03\/em-stocks-suffer-worst-quarter-in-a-year-as-higher-rates-china-woes-bite\/\">\r\n                            EM stocks suffer worst quarter in a year as higher rates, China woes bite                        <\/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\/10\/03\/em-stocks-suffer-worst-quarter-in-a-year-as-higher-rates-china-woes-bite\/\" 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\/10\/03\/em-stocks-suffer-worst-quarter-in-a-year-as-higher-rates-china-woes-bite\/')\">\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\/10\/03\/em-stocks-suffer-worst-quarter-in-a-year-as-higher-rates-china-woes-bite\/\">\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=EM stocks suffer worst quarter in a year as higher rates, China woes bite&url=https:\/\/enterpriseam.com\/egypt\/2023\/10\/03\/em-stocks-suffer-worst-quarter-in-a-year-as-higher-rates-china-woes-bite\/\">\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\/10\/03\/em-stocks-suffer-worst-quarter-in-a-year-as-higher-rates-china-woes-bite\/&title=EM stocks suffer worst quarter in a year as higher rates, China woes bite\">\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=EM+stocks+suffer+worst+quarter+in+a+year+as+higher+rates%2C+China+woes+bite+https%3A%2F%2Fenterpriseam.com%2Fegypt%2F2023%2F10%2F03%2Fem-stocks-suffer-worst-quarter-in-a-year-as-higher-rates-china-woes-bite%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\/10\/03\/em-stocks-suffer-worst-quarter-in-a-year-as-higher-rates-china-woes-bite\/\">\r\n                    <div class=\"photo photo--above\">\r\n                        <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2023\/10\/189.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"607445\" data-permalink=\"https:\/\/enterpriseam.com\/egypt\/2023\/10\/03\/em-stocks-suffer-worst-quarter-in-a-year-as-higher-rates-china-woes-bite\/189-jpg-23\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2023\/10\/189.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"189.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2023\/10\/189.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2023\/10\/189.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-607444\" class=\"content-area-description single-story post-607444 post type-post status-publish format-standard has-post-thumbnail hentry category-planet-finance tag-emerging-markets tag-enterpriseam tag-equities tag-financial-markets tag-planet-finance tag-saudi-arabia 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\/10\/.6fbe3f17-295c-436e-a950-54e2f62e198e.mp3\"><\/audio><\/figure><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"> <strong> The third quarter wasn\u2019t kind to EM equities: <\/strong>Emerging-market stocks took a serious blow in 3Q 2023, with a deepening sell-off wiping out an estimated USD 688 bn of value in September alone, according to data compiled by <a target=\"_blank\" href=\"https:\/\/www.bloomberg.com\/news\/articles\/2023-10-01\/the-bull-case-for-emerging-markets-in-2023-is-finally-shattering\" style=\"\" rel=\"noopener\">Bloomberg<\/a>. The rout took total EM equity losses in August and September to USD 1.54 tn, erasing almost all of yearly gains and leaving the asset class nursing its heaviest quarterly losses in a year.<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong> Driving the bloodbath: <\/strong> Some of the most profitable trades in the EM space have gone into reverse on the back of a stronger USD, aggressive Fed policy and China\u2019s economic woes. \u201cIt was already a pretty painful eight, nine months,\u201d one fund manager told the news outlet. \u201cBut, really, the confirmation by the Fed and further appreciation by the market that rates will probably stay for long is really causing some volatility. The past few days have been specifically painful.\u201d<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong> On the upside: <\/strong> EM equities could be at an attractive entry point for those with patience to adopt a buy-and-hold strategy, another analyst said. \u201cGlobal leaders are ending their hawkish campaigns, or at least those endings are in sight. It is reasonable to believe that emerging markets as it is priced today, will be higher a year from now.\u201d<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong> ALSO- <\/strong><strong> Saudi Arabia will return to international debt markets in the upcoming fiscal <\/strong><strong> year to plug a projected budget deficit<\/strong>, the Finance Ministry said in its pre-budget statement. Riyadh had initially expected to report a surplus for 2023, but now expects a budget deficit of 2% of GDP due largely to lower oil prices and to its decision to extend oil production cuts. The statement did not specify how much Saudi Arabia plans to borrow during the year. (<a target=\"_blank\" href=\"https:\/\/www.reuters.com\/world\/middle-east\/saudi-arabia-tap-international-debt-markets-deficits-return-2023-10-01\/\" style=\"\" rel=\"noopener\">Reuters<\/a> | <a target=\"_blank\" href=\"https:\/\/www.spa.gov.sa\/en\/7642cc8ea6j\" style=\"\" rel=\"noopener\">Saudi Press Agency<\/a>)<\/p><p><a target=\"_blank\" id=\"t.b02d4a3923298587c6c9faafe08032eebfb1b06a\" 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\">19,901<\/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: +36.3%)<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-none\">\n<td class=\"td-list-none\">\n<p><svg class=\"e-icon e-TypeMarkets\"><use xlink:href=\"#e-TypeMarkets\"><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong> USD (CBE) <\/strong><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">Buy 30.83<\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">Sell 30.96<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-none\">\n<td class=\"td-list-none\">\n<p><svg class=\"e-icon e-TypeMarkets\"><use xlink:href=\"#e-TypeMarkets\"><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong> USD at <\/strong><strong> 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\">11,006<\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">-0.3% (YTD: +5.0%)<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-none\">\n<td class=\"td-list-none\">\n<p><svg class=\"e-icon e-TypeMarkets\"><use xlink:href=\"#e-TypeMarkets\"><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong> 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\">9,788<\/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: -4.2%)<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-up\">\n<td class=\"td-list-up\">\n<p><svg class=\"e-icon e-TypeMarkets11\"><use xlink:href=\"#e-TypeMarkets11\"><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong> DFM <\/strong><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">4,183<\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">+0.5% (YTD: +25.4%)<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-down\">\n<td class=\"td-list-down\">\n<p><svg class=\"e-icon e-TypeMarkets1\"><use xlink:href=\"#e-TypeMarkets1\"><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong> 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\">4,138<\/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\">-0.9% (YTD: +9.1%)<\/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> 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\">7,511<\/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\">-1.3% (YTD: +0.8%)<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-down\">\n<td class=\"td-list-down\">\n<p><svg class=\"e-icon e-TypeMarkets1\"><use xlink:href=\"#e-TypeMarkets1\"><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong> Euro Stoxx 50 <\/strong><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">4,138<\/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\">-0.9% (YTD: +9.1%)<\/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> Brent crude <\/strong><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">USD 90.45<\/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\">-1.9%<\/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> 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 2.85<\/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\">-2.8%<\/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 1,844.20<\/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\">-1.2%<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-up\">\n<td class=\"td-list-up\">\n<p><svg class=\"e-icon e-TypeMarkets11\"><use xlink:href=\"#e-TypeMarkets11\"><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong> 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 27,848<\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">+2.7% (YTD: +68.7%)<\/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 3.3 bn (53.2% above the 90-day average). Local investors were net sellers. The index is up 36.3% YTD.<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong> In the green: <\/strong>EFG Holding (+3.2%), Heliopolis Housing (+2.8%) and Oriental Weavers (+2.2%).<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong> In the red: <\/strong>Orascom Construction (-8.3%), Fawry (-3.5%) and Credit Agricole (-3.3%). <\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong> Asian markets are mostly in the red during early trading this morning <\/strong> as concerns about tightening financial conditions continue to stoke nerves in the market following yesterday\u2019s sell off in the US bond market. The Hang Seng (-3.0%) and the Nikkei (-1.6%) are heavily selling off, while shares in Australia are down 1.3%. Shares on Wall Street and in Europe look set to follow them later today, with equity futures all in the red this morning. <\/p>\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/emerging-markets\/\">emerging markets<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/equities\/\">equities<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/financial-markets\/\">Financial Markets<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/planet-finance\/\">Planet Finance<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/saudi-arabia\/\">Saudi Arabia<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                    <\/div>\n    <\/div>\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<div class=\"alignfull vertical-section wide-section going-green wp-block-group issue-section\" id=\"607446\">\r\n    <div class=\"issue-section__content\">\r\n        <div class=\"alignwide wp-block-columns\">\r\n            <div class=\"wp-block-column sidebar-vertical-info\" style=\"flex-basis:22.8%\">\r\n                <figure class=\"wp-block-image size-full\">\r\n                                            <img decoding=\"async\" src=\"https:\/\/s3.amazonaws.com\/resources.inktankir.com\/internal\/27465.svg\" style=\"width:80%\" alt=\"\" >\r\n                                    <\/figure>\r\n                <p>\r\n                    Our weekly deep dive into the green economy and ESG issue in Egypt.                <\/p>\r\n                <figure class=\"wp-block-image size-full mt-0 mb-0 img-white-bg\"><img data-recalc-dims=\"1\" decoding=\"async\" src=\"https:\/\/i0.wp.com\/s3.amazonaws.com\/resources.inktankir.com\/internal\/27483.png?ssl=1\" alt=\"\"><\/figure>\r\n                <p class=\"has-text-color has-link-color\">\r\n                    Published every Tuesday in EnterpriseAM.                <\/p>\r\n                <div class=\"wp-block-buttons mt-0\">\r\n                    <div class=\"wp-block-button\">\r\n                        <a class=\"wp-block-button__link has-background wp-element-button\" href=\"https:\/\/enterpriseam.com\/egypt\/goinggreen\/\">\r\n                            Read going Green                        <\/a>\r\n                    <\/div>\r\n                <\/div>\r\n            <\/div>\r\n            <div class=\"wp-block-column issue-section\">\r\n                <div class=\"story-section\">\r\n                    <div class=\"issue-story-header text-center\">\r\n                        <div class=\"index-number\">11<\/div>\r\n\r\n                        <p class=\"f-graphik\">Going Green<\/p>\r\n                        <h3 class=\"story-title\"><a href=\"https:\/\/enterpriseam.com\/egypt\/goinggreens\/what-are-industrial-players-doing-to-reduce-their-carbon-footprint\/\">\r\n                            What are Egyptian industrial players doing to reduce their carbon footprint?<\/a>\r\n                        <\/h3>\r\n\r\n\t\t\t\t\t\n<div class=\"cta\">\n    <div class=\"cta__btn share-dropdown-cta dropdown-toggle-btn\" style=\"position:relative\">\n        <img decoding=\"async\" src=\"https:\/\/ent.news\/internal\/408834.svg\" alt=\"\">\n        Share Story\n        <!-- Dropdown Menu -->\n        <ul class=\"share-menu\">\n            <li class=\"list-inline-item\">\n                <a href=\"https:\/\/enterpriseam.com\/egypt\/goinggreens\/what-are-industrial-players-doing-to-reduce-their-carbon-footprint\/\" target=\"_blank\">\n                    Open in new tab                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/new-tab.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a href=\"#\" target=\"_blank\" onclick=\"event.preventDefault(); navigator.clipboard.writeText('https:\/\/enterpriseam.com\/egypt\/goinggreens\/what-are-industrial-players-doing-to-reduce-their-carbon-footprint\/')\">\n                    Copy Link                <\/a>\n\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a target=\"_blank\" href=\"https:\/\/www.facebook.com\/sharer.php?u=https:\/\/enterpriseam.com\/egypt\/goinggreens\/what-are-industrial-players-doing-to-reduce-their-carbon-footprint\/\">\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=What are industrial players doing to reduce their carbon footprint?&url=https:\/\/enterpriseam.com\/egypt\/goinggreens\/what-are-industrial-players-doing-to-reduce-their-carbon-footprint\/\">\n                    X                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/twitter-icon.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a target=\"_blank\" href=\"https:\/\/www.linkedin.com\/shareArticle?mini=true&url=https:\/\/enterpriseam.com\/egypt\/goinggreens\/what-are-industrial-players-doing-to-reduce-their-carbon-footprint\/&title=What are industrial players doing to reduce their carbon footprint?\">\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=What+are+industrial+players+doing+to+reduce+their+carbon+footprint%3F+https%3A%2F%2Fenterpriseam.com%2Fegypt%2Fgoinggreens%2Fwhat-are-industrial-players-doing-to-reduce-their-carbon-footprint%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>                    <\/div>\r\n\r\n                    <div class=\"story__body\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/goinggreens\/what-are-industrial-players-doing-to-reduce-their-carbon-footprint\/\">\r\n                            <div class=\"photo photo--above\">\r\n                                <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2023\/9\/1096.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" sizes=\"(max-width: 34.9rem) calc(100vw - 2rem), (max-width: 53rem) calc(8 * (100vw \/ 12)), (min-width: 53rem) calc(6 * (100vw \/ 12)), 100vw\" data-attachment-id=\"607447\" data-permalink=\"https:\/\/enterpriseam.com\/egypt\/goinggreens\/what-are-industrial-players-doing-to-reduce-their-carbon-footprint\/1096-jpg-8\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2023\/9\/1096.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"1096.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2023\/9\/1096.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2023\/9\/1096.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                            <\/div>\r\n                        <\/a>\r\n                        \n<article id=\"post-607446\" class=\"content-area-description post-607446 goinggreen type-goinggreen status-publish has-post-thumbnail hentry category-going-green tag-enterprise-going-green tag-enterpriseam tag-environment tag-going-green wpautop entry\">\n\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\"><strong> How industrial players + gov\u2019t are working to combat industrial pollution: <\/strong>With the world moving towards reducing its carbon footprint, local industrial players are being nudged towards increasing their energy efficiency and slashing emissions. This shift is partially coming from momentum from within private sector circles, as well as from government-led initiatives to improve industrial players\u2019 environmental performance. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong> Where things currently stand: <\/strong>Egypt was in the top 10 list of countries with the worst air quality in 2022, coming in ninth place with an air quality index of 128, making the country\u2019s air quality unhealthy for sensitive groups, according to <a target=\"_blank\" href=\"https:\/\/www.iqair.com\/egypt\" style=\"\" rel=\"noopener\">data<\/a> from Swiss air quality technology company IQAir. Industry is the largest user of electricity, natural gas, and coal, and is responsible for nine gigatons of CO2, or 45% of worldwide direct emissions from end-use sectors in 2021, ABB\u2019s Business Area Manager for Egypt, North, and Central Africa Ahmed Hassan told Enterprise. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong> It comes at a hefty cost: <\/strong>Environmental degradation costs Egypt an annual EUR 2.2 bn \u2014 almost double the industrialized country average, according to <a target=\"_blank\" href=\"https:\/\/www.afd.fr\/en\/carte-des-projets\/industrial-pollution-abatement\" style=\"\" rel=\"noopener\">data<\/a> from the French Development Agency (AFD). <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong> Enter EPAP: <\/strong>The Egyptian Pollution Abatement Project (EPAP) is a wide-scale initiative launched in the early 1990s by the Environment Ministry to help industries reduce energy and resource consumption and comply with environmental regulations. It provides a mix of loans and grants to industries, with financial backing from parties including the EU, AFD, the European Investment Bank (EIB), and German development bank KfW. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong> The EUR 145 mn project is currently in its third phase<\/strong>, according to the <a target=\"_blank\" href=\"https:\/\/www.eeaa.gov.eg\/Project\/102\/Details\" style=\"\" rel=\"noopener\">Environment<\/a> <a target=\"_blank\" href=\"https:\/\/www.eeaa.gov.eg\/Project\/102\/Details\" style=\"\" rel=\"noopener\">Ministry\u2019s website<\/a>. The <a target=\"_blank\" href=\"https:\/\/www.eeas.europa.eu\/node\/8742_en\" style=\"\" rel=\"noopener\">EU is contributing<\/a> EUR 10 mn to the third phase, while the <a target=\"_blank\" href=\"https:\/\/www.eib.org\/en\/projects\/all\/20120110\" style=\"\" rel=\"noopener\">EIB is putting down<\/a> up to EUR 74 mn. This phase of the project kicked off in 2015 and is expected to wrap up next year. \u201cThe project helps improve industrial company\u2019s environmental performance through offering them soft loans,\u201d head of the air quality division at the Environment Ministry\u2019s Environmental Affairs Agency (EEAA) Mostafa Mourad told Enterprise.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong> EPAP at a glance: <\/strong>The project has so far provided technical support to some 31 factories in 25 industrial facilities, with total investments of EUR 131 mn, according to government documents seen by Enterprise. It has also helped out 33 SMEs with a total investment of EUR 12.8 mn. The Environment Ministry has 120 stations constantly monitoring industrial emissions across the country, as part of its efforts to cut solid particle pollution in half by 2030. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong> A new project to reduce emissions in the making? <\/strong>The Environment Ministry is currently \u2014 alongside international agencies \u2014 conducting studies to launch its environmental sanitation policy to help make industry greener, Mourad said. \u201cWe have been in talks with cement manufacturers for over a year now to push them to switch from limestone to basalt, which emits less harmful pollutants,\u201d Mourad said, adding that the ministry has obligated all emission-intensive industries to ensure that at least 10% of their energy consumption is green. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong> The private sector is also trying to make a change: <\/strong>Swiss-Swedish power company ABB Group in 2021 launched its <a target=\"_blank\" href=\"https:\/\/www.energyefficiencymovement.com\/en\/\" style=\"\" rel=\"noopener\">Energy Efficiency Movement<\/a>(EEM), which aims to raise awareness and push companies to limit their carbon emissions as well as their energy consumption. The movement targets both the private and the public sectors, mainly companies operating in the industry, technology, energy, and telecom sectors. The movement expanded to Egypt in May.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong> EMM in Egypt: <\/strong>\u201cThe movement in Egypt has only recently begun, and is still in its infancy. To start seeing concrete results, we are currently trying to include the Egyptian companies in this initial round,\u201d he said. \u201cWe can start to have a genuine impact in the long run by encouraging businesses to cut back on their energy use. This will strengthen the path toward sustainable development and ensure we are making efforts in lessening our global carbon footprint.\u201d<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong> Big industrial players are already pulling their weight: <\/strong>Ezz Steel <a target=\"_blank\" href=\"https:\/\/www.ezzsteel.com\/about-ezz-steel\/sustainability\" style=\"\" rel=\"noopener\">brands itself<\/a> as a \u201csustainable business\u201d whose operations have a minimal impact on the planet. \u201cWe are in the first quartile in terms of lowest carbon footprint for steel producers worldwide,\u201d a company representative told Enterprise. Elsewedy Electric has also taken significant steps to strengthen its commitment to sustainability, Elsewedy Electric Chief Sustainability Officer Manal Hassan told Enterprise. \u201cThis included conducting a comprehensive assessment of our carbon footprint and consistently tracking and disclosing greenhouse gas (GHG) emissions according to recognized protocols,\u201d she added.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong> The steel industry has gone green: <\/strong>In the last 30 years or so, the steel industry reached a no tolerance mindset to what used to be a very polluting industry, the Ezz Steel representative said. Green innovations in the steel industry have made significant advancements \u2014 every plant now has a dust collector, air pollution is monitored closely using sensors and the figures are reported to the Environment Ministry, he added. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong> So has the chemical industry: <\/strong>\u201c[TCI Sanmar] is continuously seeking ways to enhance its practices in order to support pollution abatement. Having said this, it may be mentioned here that the company is fully complying with all rules, regulations, and standards,\u201d a representative at chemicals producer TCI Sanmar told Enterprise. The company is also committed to advancing its technology to reduce environmental impact and optimize the use of energy and natural resources. \u201cAt TCI Sanmar, we are committed to ensuring the sustainability of our day-to-day operations and minimizing our environmental footprint on the planet. This includes implementing updated waste management and energy conservation practices.\u201d<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong> Going green requires a complete overhaul of operations: <\/strong>\u201cIf one is after the fundamental reduction of carbon emissions that would mean a total change in industrial operations \u2014 we know there is a range and try to stay on the lower part of the range, following up with our results and trying to stay on the lowest end of the carbon footprint,\u201d the Ezz Steel representative said. In any heavy industry there are tens and tens of factors contributing to energy consumption, he added, explaining that lowering energy consumption helps with keeping costs low and preserving the environment. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong> Advanced tech is the gateway to going green: <\/strong>\u201cWe make sure we choose the most recent state of the art configuration that has been tested internationally to have a lower footprint,\u201d the Ezz Steel representative said. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong> Industrial clients are also wary of their carbon footprint: <\/strong>Many of Ezz Steel\u2019s clients are interested to know what measures are being applied to minimize carbon footprints. \u201cI think industrialists, those who are industrialists at heart, realize the importance and how fundamental [going green] has become,\u201d the representative said.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong> Strategies have been put in place: <\/strong>\u201cIn response to the call for immediate action to address the global climate crisis, Elsewedy Electric issued its 2020-2023 Sustainability Strategy. This comprehensive strategy not only includes a strong commitment to achieving net-zero emissions by 2050, but also outlines specific interim targets for 2030 and 2040 and detailed action plans to achieve those goals,\u201d Hassan said. The company constantly monitors its emissions to air, water, and waste generated and is able to \u201ctake immediate corrective actions. We have identified all environmental risks and impacts arising from our operations and construction activities and developed environmental management plans and monitoring programs as part of our corporate ESMS, including targets and site-specific KPIs.\u201d <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\">\n<hr style=\"height:2px;border-width:0;color:gray;background-color:gray\">\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong> Your top green economy stories for the week: <\/strong><\/p>\n<ul>\n<li><strong> Solar tender deadline extended: <\/strong> The Egyptian Electricity Holding Company has <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/ba65a5b6-31a7-4140-9d22-6df3685f3513\" style=\"\" rel=\"noopener\">extended the bidding deadline<\/a> for the tender for five north coast solar plants to 27 October.<\/li>\n<li><strong> Japanese firms eye Egypt renewables: <\/strong> The General Authority of the Suez Canal Economic Zone (SCZone) met with representatives from 24 Japanese companies <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/ba14bf50-d550-4025-bce5-cbb2a51d0bd6\" style=\"\" rel=\"noopener\">interested in investing in<\/a> renewable energy and green fuel projects.<\/li>\n<li><strong> Banque Misr to launch green fund: <\/strong> Banque Misr plans to <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/ba65a5b6-31a7-4140-9d22-6df3685f3513\" style=\"\" rel=\"noopener\">establish an ESG green<\/a> <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/ba65a5b6-31a7-4140-9d22-6df3685f3513\" style=\"\" rel=\"noopener\">index fund<\/a> in 1Q 2024 based on S&P\u2019s sustainability index.<\/li>\n<\/ul>\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/environment\/\">environment<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/going-green\/\">going green<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                    <\/div>\n    <\/div>\n\r\n                    <\/div>\r\n                <\/div>\r\n            <\/div>\r\n            <div class=\"wp-block-column\" style=\"flex-basis:19.8%\"><\/div>\r\n        <\/div>\r\n    <\/div>\r\n<\/div>\n<section id=\"607448\" 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\/10\/03\/607448\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-607448\" class=\"content-area-description single-story post-607448 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\">OCTOBER <\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:400;\">1-3 October (Sunday-Tuesday) International Expotec for water economics management, Egypt International Exhibition Center, Fifth Settlement, Cairo. <\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span>2-5 October (Monday-Thursday): <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/www.adipec.com\/\" style=\"\">ADIPEC 2023<\/a><\/span><span style=\"font-weight:400;\">, Abu Dhabi National Exhibition Center.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:400;\">2 October (Monday): Government meeting with investors to look into liberalizing electricity grid. <\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:400;\">4 October (Wednesday): OPEC+ 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;\">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;\">12 October (Thursday): Egyptian-Italian Business Forum.<\/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;\">20 October (Friday): Deadline for applying for Dar Venture\u2019s Dare incubator.<\/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 style=\"font-weight:400;\">27 October (Friday): 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>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<li><span>Saudi and Egyptian officials will meet to follow up on the project to <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/79e8bb5d-d4df-4aef-9d3e-914e95be9d1c\" style=\"\">connect the national power grids of Egypt and Saudi Arabia<\/a><\/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 style=\"font-weight:400;\">1-3 December (Friday-Sunday): Egyptian expats vote in the presidential election.<\/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 style=\"font-weight:400;\">, 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;\">10-12 December (Sunday-Tuesday): Voting in presidential election takes place 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;\">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;\">20 December (Wednesday): End of sugar export ban.<\/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;\">25 February 2024 (Sunday): Deadline for bidders for oil and gas expansion in the 23 new regions.<\/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>2Q 2025: Safaga Terminal 2 to start operations.<\/span><\/p>\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n","protected":false},"excerpt":{"rendered":"<p>A dislike | FX + sugar curbs | More IFC money? | AI and big data<\/p>\n","protected":false},"featured_media":607420,"menu_order":0,"template":"","categories":[],"tags":[],"class_list":["post-607419","issue","type-issue","status-publish","has-post-thumbnail","hentry","wpautop","entry"],"acf":{"mongo_id":"d24ad7e6-0173-44fd-a08a-cbc7313099a7","teaser":"A dislike | FX + sugar curbs | More IFC money? | AI and big data","photo_url":"https:\/\/ent.news\/2023\/10\/198.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>El Sisi announces bid for re-election - EnterpriseAM Egypt<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/enterpriseam.com\/egypt\/issues\/el-sisi-announces-bid-for-re-election\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"El Sisi announces bid for re-election\" \/>\n<meta property=\"og:description\" content=\"A dislike | FX + sugar curbs | More IFC money? | AI and big data\" \/>\n<meta property=\"og:url\" content=\"https:\/\/enterpriseam.com\/egypt\/issues\/el-sisi-announces-bid-for-re-election\/\" \/>\n<meta property=\"og:site_name\" content=\"EnterpriseAM Egypt\" \/>\n<meta property=\"article:modified_time\" content=\"2025-12-17T01:02:00+00:00\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:image\" content=\"https:\/\/i0.wp.com\/ent.news\/2023\/10\/198.jpg?fit=%2C&ssl=1\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"WebPage\",\"@id\":\"https:\/\/enterpriseam.com\/egypt\/issues\/el-sisi-announces-bid-for-re-election\/\",\"url\":\"https:\/\/enterpriseam.com\/egypt\/issues\/el-sisi-announces-bid-for-re-election\/\",\"name\":\"El Sisi announces bid for re-election - EnterpriseAM Egypt\",\"isPartOf\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/#website\"},\"primaryImageOfPage\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/issues\/el-sisi-announces-bid-for-re-election\/#primaryimage\"},\"image\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/issues\/el-sisi-announces-bid-for-re-election\/#primaryimage\"},\"thumbnailUrl\":\"https:\/\/i0.wp.com\/ent.news\/2023\/10\/198.jpg?fit=%2C&ssl=1\",\"datePublished\":\"2023-10-03T00:00:00+00:00\",\"dateModified\":\"2025-12-17T01:02:00+00:00\",\"breadcrumb\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/issues\/el-sisi-announces-bid-for-re-election\/#breadcrumb\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\/\/enterpriseam.com\/egypt\/issues\/el-sisi-announces-bid-for-re-election\/\"]}]},{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/enterpriseam.com\/egypt\/issues\/el-sisi-announces-bid-for-re-election\/#primaryimage\",\"url\":\"https:\/\/i0.wp.com\/ent.news\/2023\/10\/198.jpg?fit=%2C&ssl=1\",\"contentUrl\":\"https:\/\/i0.wp.com\/ent.news\/2023\/10\/198.jpg?fit=%2C&ssl=1\"},{\"@type\":\"BreadcrumbList\",\"@id\":\"https:\/\/enterpriseam.com\/egypt\/issues\/el-sisi-announces-bid-for-re-election\/#breadcrumb\",\"itemListElement\":[{\"@type\":\"ListItem\",\"position\":1,\"name\":\"Home\",\"item\":\"https:\/\/enterpriseam.com\/egypt\/\"},{\"@type\":\"ListItem\",\"position\":2,\"name\":\"Issues\",\"item\":\"https:\/\/enterpriseam.com\/egypt\/AMarchives\/\"},{\"@type\":\"ListItem\",\"position\":3,\"name\":\"El Sisi announces bid for re-election\"}]},{\"@type\":\"WebSite\",\"@id\":\"https:\/\/enterpriseam.com\/egypt\/#website\",\"url\":\"https:\/\/enterpriseam.com\/egypt\/\",\"name\":\"EnterpriseAM\",\"description\":\"The State of the Nation\",\"publisher\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/#organization\"},\"potentialAction\":[{\"@type\":\"SearchAction\",\"target\":{\"@type\":\"EntryPoint\",\"urlTemplate\":\"https:\/\/enterpriseam.com\/egypt\/?s={search_term_string}\"},\"query-input\":{\"@type\":\"PropertyValueSpecification\",\"valueRequired\":true,\"valueName\":\"search_term_string\"}}],\"inLanguage\":\"en-US\"},{\"@type\":\"Organization\",\"@id\":\"https:\/\/enterpriseam.com\/egypt\/#organization\",\"name\":\"EnterpriseAM\",\"url\":\"https:\/\/enterpriseam.com\/egypt\/\",\"logo\":{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/enterpriseam.com\/egypt\/#\/schema\/logo\/image\/\",\"url\":\"https:\/\/ent.news\/internal\/240894.svg\",\"contentUrl\":\"https:\/\/ent.news\/internal\/240894.svg\",\"caption\":\"EnterpriseAM\"},\"image\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/#\/schema\/logo\/image\/\"}}]}<\/script>\n<!-- \/ Yoast SEO Premium plugin. -->","yoast_head_json":{"title":"El Sisi announces bid for re-election - EnterpriseAM Egypt","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/enterpriseam.com\/egypt\/issues\/el-sisi-announces-bid-for-re-election\/","og_locale":"en_US","og_type":"article","og_title":"El Sisi announces bid for re-election","og_description":"A dislike | FX + sugar curbs | More IFC money? | AI and big data","og_url":"https:\/\/enterpriseam.com\/egypt\/issues\/el-sisi-announces-bid-for-re-election\/","og_site_name":"EnterpriseAM Egypt","article_modified_time":"2025-12-17T01:02:00+00:00","twitter_card":"summary_large_image","twitter_image":"https:\/\/i0.wp.com\/ent.news\/2023\/10\/198.jpg?fit=%2C&ssl=1","schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"WebPage","@id":"https:\/\/enterpriseam.com\/egypt\/issues\/el-sisi-announces-bid-for-re-election\/","url":"https:\/\/enterpriseam.com\/egypt\/issues\/el-sisi-announces-bid-for-re-election\/","name":"El Sisi announces bid for re-election - EnterpriseAM Egypt","isPartOf":{"@id":"https:\/\/enterpriseam.com\/egypt\/#website"},"primaryImageOfPage":{"@id":"https:\/\/enterpriseam.com\/egypt\/issues\/el-sisi-announces-bid-for-re-election\/#primaryimage"},"image":{"@id":"https:\/\/enterpriseam.com\/egypt\/issues\/el-sisi-announces-bid-for-re-election\/#primaryimage"},"thumbnailUrl":"https:\/\/i0.wp.com\/ent.news\/2023\/10\/198.jpg?fit=%2C&ssl=1","datePublished":"2023-10-03T00:00:00+00:00","dateModified":"2025-12-17T01:02:00+00:00","breadcrumb":{"@id":"https:\/\/enterpriseam.com\/egypt\/issues\/el-sisi-announces-bid-for-re-election\/#breadcrumb"},"inLanguage":"en-US","potentialAction":[{"@type":"ReadAction","target":["https:\/\/enterpriseam.com\/egypt\/issues\/el-sisi-announces-bid-for-re-election\/"]}]},{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/enterpriseam.com\/egypt\/issues\/el-sisi-announces-bid-for-re-election\/#primaryimage","url":"https:\/\/i0.wp.com\/ent.news\/2023\/10\/198.jpg?fit=%2C&ssl=1","contentUrl":"https:\/\/i0.wp.com\/ent.news\/2023\/10\/198.jpg?fit=%2C&ssl=1"},{"@type":"BreadcrumbList","@id":"https:\/\/enterpriseam.com\/egypt\/issues\/el-sisi-announces-bid-for-re-election\/#breadcrumb","itemListElement":[{"@type":"ListItem","position":1,"name":"Home","item":"https:\/\/enterpriseam.com\/egypt\/"},{"@type":"ListItem","position":2,"name":"Issues","item":"https:\/\/enterpriseam.com\/egypt\/AMarchives\/"},{"@type":"ListItem","position":3,"name":"El Sisi announces bid for re-election"}]},{"@type":"WebSite","@id":"https:\/\/enterpriseam.com\/egypt\/#website","url":"https:\/\/enterpriseam.com\/egypt\/","name":"EnterpriseAM","description":"The State of the Nation","publisher":{"@id":"https:\/\/enterpriseam.com\/egypt\/#organization"},"potentialAction":[{"@type":"SearchAction","target":{"@type":"EntryPoint","urlTemplate":"https:\/\/enterpriseam.com\/egypt\/?s={search_term_string}"},"query-input":{"@type":"PropertyValueSpecification","valueRequired":true,"valueName":"search_term_string"}}],"inLanguage":"en-US"},{"@type":"Organization","@id":"https:\/\/enterpriseam.com\/egypt\/#organization","name":"EnterpriseAM","url":"https:\/\/enterpriseam.com\/egypt\/","logo":{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/enterpriseam.com\/egypt\/#\/schema\/logo\/image\/","url":"https:\/\/ent.news\/internal\/240894.svg","contentUrl":"https:\/\/ent.news\/internal\/240894.svg","caption":"EnterpriseAM"},"image":{"@id":"https:\/\/enterpriseam.com\/egypt\/#\/schema\/logo\/image\/"}}]}},"jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/issue\/607419","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/issue"}],"about":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/types\/issue"}],"version-history":[{"count":1,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/issue\/607419\/revisions"}],"predecessor-version":[{"id":607476,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/issue\/607419\/revisions\/607476"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/media\/607420"}],"wp:attachment":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/media?parent=607419"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/categories?post=607419"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/tags?post=607419"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}