{"id":608080,"date":"2023-10-15T00:00:00","date_gmt":"2023-10-15T00:00:00","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/?post_type=issue&#038;p=608080"},"modified":"2025-12-17T01:16:13","modified_gmt":"2025-12-17T01:16:13","slug":"are-we-asking-for-a-usd-2-bn-top-up-to-our-imf-facility","status":"publish","type":"issue","link":"https:\/\/enterpriseam.com\/egypt\/issues\/are-we-asking-for-a-usd-2-bn-top-up-to-our-imf-facility\/","title":{"rendered":"Are we asking for a USD 2 bn top-up to our IMF facility?"},"content":{"rendered":"<section id=\"608082\" 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=\"608082\">\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\/15\/blinken-set-to-arrive-in-cairo-for-gaza-talks\/\">\r\n                            US Secretary of State Antony Blinken set to arrive in Cairo to discuss Gaza war                        <\/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\/15\/blinken-set-to-arrive-in-cairo-for-gaza-talks\/\" target=\"_blank\">\n                    Open in new tab                    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data-permalink=\"https:\/\/enterpriseam.com\/egypt\/2023\/10\/15\/blinken-set-to-arrive-in-cairo-for-gaza-talks\/718-jpg-6\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2023\/10\/718.JPG?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"718.JPG\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2023\/10\/718.JPG?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2023\/10\/718.JPG?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-608082\" class=\"content-area-description single-story post-608082 post type-post status-publish format-standard has-post-thumbnail hentry category-what-were-tracking-today tag-antony-blinken tag-diplomacy tag-egypt-us-relations tag-enterpriseam tag-gaza tag-israel tag-israel-palestine-conflict tag-middle-east-politics tag-palestine tag-politics 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\/.7de5e1dd-1946-42db-8839-122f14413784.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. <\/strong>The news cycle didn\u2019t slow down in the slightest over the weekend as the war between Israel and Hamas accelerated and the IMF and World Bank meetings continued in Marrakech. <\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><a id=\"wwtt1\"><\/a>  <strong>US Secretary of State Antony Blinken will touch down in Cairo today<\/strong> in what will be his latest stop in <a target=\"_blank\" href=\"https:\/\/www.state.gov\/secretary-blinkens-travel-to-israel-jordan-qatar-saudi-arabia-the-united-arab-emirates-and-egypt\/\" style=\"\" rel=\"noopener\">a breakneck tour<\/a> of regional capitals aimed at softening the Arab response to Israel\u2019s assault on Gaza \u2014 which has forced some 1 mn people from their homes and killed more than 2.2k \u2014 and prevent the conflict from escalating into a regional conflagration. Expect intense discussions on Israel\u2019s displacement of thousands of Gazans, the entrance of humanitarian aid into the enclave, and the fate of US citizens trapped at the Rafah border crossing. <\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>MPs to speak on Palestinian displacement:<\/strong> A large number of MPs are expected to take to the floor in the House of Representatives today with statements condemning Israeli aggression in the Gaza Strip and rejecting the displacement of Palestinians into Sinai. <\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>We have the rundown on the latest from the war in this morning\u2019s war watch<\/strong>, below. <\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><a id=\"wwtt2\"><\/a> <strong>THE BIG BUSINESS STORY HERE AT HOME- <\/strong><strong>We\u2019ll know by the end of October when the IMF will review our progress on <\/strong><strong>the terms of our <\/strong><strong>USD 3 bn loan program<\/strong>, Finance Minister Mohamed Maait told <a target=\"_blank\" href=\"https:\/\/bit.ly\/3LWJjmL\" style=\"\" rel=\"noopener\">Al Arabiya<\/a>. <a target=\"_blank\" href=\"https:\/\/www.bloomberg.com\/news\/articles\/2023-10-13\/egypt-seeks-to-boost-imf-loan-over-5-billion-amid-currency-woes\" style=\"\" rel=\"noopener\">Bloomberg<\/a> reported Friday that an IMF mission could arrive in Cairo to start the first and second reviews this month. The minister\u2019s comments to the Saudi broadcaster followed an <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/d46ba8bf-1e15-4d11-810a-d9e5721aeed6\" style=\"\" rel=\"noopener\">interview with CNBC Arabia<\/a> during which he said that the reviews will be completed before the end of the year.<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>We may be asking the Fund for as much as USD 2 bn more under the program<\/strong>, an unconfirmed report suggests. The news comes the same weekend the fund released a report predicting that our budget deficit is going to rise to 10.7% of GDP this fiscal year, more than double the year before. <strong>We\u2019ve got the rundown on these stories and more in this morning\u2019s news well, below.<\/strong><\/p><hr style=\"height:2px;border-width:0;color:gray;background-color:gray\"><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><a id=\"wwtt3\"><\/a> <strong>PRIVATIZATION WATCH- Shell and China\u2019s North Petroleum both want a piece of <\/strong><strong>Wataniya:<\/strong> Shell Oil has teamed up with an unnamed investor owned by the Saudi government to target a stake in the military-owned filling station operator Wataniya, reports <a target=\"_blank\" href=\"https:\/\/www.alborsaanews.com\/2023\/10\/14\/1723253\" style=\"\" rel=\"noopener\">Al Borsa<\/a>, citing sources it says are in the know. China\u2019s North Petroleum also submitted an offer, the local outlet added. The Sovereign Fund of Egypt is working to sell at least 10% \u2014 and <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/c2b7a2e5-6a60-4d93-b790-a71770451eff\" style=\"\" rel=\"noopener\">potentially as much as 100%<\/a> \u2014 of Wataniya as part of the state\u2019s privatization program. The company is currently 100% owned by the military\u2019s National Service Projects Organization.<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>That makes six reportedly in the running:<\/strong> Taqa Arabia, Abu Dhabi National Oil Company (Adnoc), Emirates National Oil Company (ENOC), and Saudi firm Petromin have all <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/9326a491-9645-49df-b489-e36f40100021\" style=\"\" rel=\"noopener\">reportedly submitted offers<\/a> for the Wataniya stake, with local media reporting that bids ranged between USD 250 mn and USD 280 mn. The Madbouly government has said that it aims to conclude the sale before the year is out.<\/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>ELECTION WATCH- It looks like the presidential election is going to be a four-person race <\/strong>afterRepublican People\u2019s Party leader Hazem Omar submitted his running papers, according to a <a target=\"_blank\" href=\"https:\/\/www.facebook.com\/RepublicanPeoplePartyEgypt\/posts\/pfbid02hwgWe51isV5sTHc9myBJxTpmv372yod74FJytAkrYoKfv12u5kMQngHSjWiYJWsRl\" style=\"\" rel=\"noopener\">statement<\/a> by the party. Omar joins President Abdel Fattah El Sisi, Farid Zahran (Social Democratic Party), and Abdel-Sanad Yamama (Al Wafd) in the race after the window for nominations closed on Saturday. Opposition politician Ahmed El Tantawy has dropped out of the race. <\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>What\u2019s next: <\/strong>The National Elections Authority will announce the official list of candidates tomorrow after reviewing each candidate\u2019s paperwork. Voting takes place 10-12 December in Egypt, and 1-3 December abroad.<\/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>EGP WATCH- Standard Chartered sees no devaluation, changes to interest rates before <\/strong><strong>the end of this year:<\/strong> The bank thinks that Egypt will not see further devaluations of the EGP or changes in interest rates until the end of the year, reports <a target=\"_blank\" href=\"https:\/\/www.asharqbusiness.com\/article\/55601\/%D8%B3%D8%AA%D8%A7%D9%86%D8%AF%D8%B1%D8%AF-%D8%AA%D8%B4%D8%A7%D8%B1%D8%AA%D8%B1%D8%AF-%D9%8A%D8%AA%D9%88%D9%82%D8%B9-%D8%AA%D9%88%D9%82%D9%81-%D9%85%D8%B5%D8%B1-%D8%B9%D9%86-%D8%AA%D8%AD%D8%B1%D9%8A%D9%83-%D8%A7%D9%84%D8%AC%D9%86%D9%8A%D9%87-%D9%88%D8%A7%D9%84%D9%81%D8%A7%D8%A6%D8%AF%D8%A9-%D9%84%D9%86%D9%87%D8%A7%D9%8A%D8%A9-%D8%A7%D9%84%D8%B9%D8%A7%D9%85\/\" style=\"\" rel=\"noopener\">Asharq Business<\/a>, citing a research note from the bank. \u201cThe way markets have understood moving forward the presidential elections from 1Q 2024 to December is that the reforms initially earmarked for 2023 will wait until after the election,\u201d Standard Chartered Bank economist Carla Slim told Asharq Business last week (<a target=\"_blank\" href=\"https:\/\/bit.ly\/3LP1bQs\" style=\"\" rel=\"noopener\">watch, runtime: 8:25<\/a>).<\/p><hr style=\"height:2px;border-width:0;color:gray;background-color:gray\"><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>COMMODITIES WATCH- Wheat price hedges incoming for 2024? <\/strong>\u201cThere is a good possibility that we do the wheat hedging next year,\u201d Finance Minister Mohamed Maait told <a target=\"_blank\" href=\"https:\/\/www.bloomberg.com\/news\/articles\/2023-10-13\/egypt-plans-to-start-hedging-its-wheat-purchases-next-year\" style=\"\" rel=\"noopener\">Bloomberg<\/a> on the sidelines of the IMF and World Bank\u2019s annual meetings in Morocco. Maait told the outlet that the Madbouly government is already in talks with several unnamed banks about the plan.<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>It\u2019s not the first time we\u2019ve heard about potential wheat hedges<\/strong>: As one of the world\u2019s largest importers of wheat, this isn\u2019t the first time we\u2019ve <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/4d62e3f0-9d66-4bf5-8447-110e1540903c\" style=\"\" rel=\"noopener\">explored hedging<\/a> against volatile wheat prices. However, while wheat hedging plans are yet to see the light of day, we\u2019ve been hedging big on another important import this year \u2014 <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/5509f320-a92c-4c1c-a7a4-fffcfdbb7302\" style=\"\" rel=\"noopener\">oil<\/a>.<\/p><div class=\"row\">\n<div class=\"col-md-12 subscribe-box-panel\">\n<div class=\"\">\n<div class=\"title\">\n<h4 class=\"fw-lighter mb-10\">\n   Get <b style=\"font-weight: 700\">Enterprise<\/b> daily<br>\n  <\/h4>\n<\/div>\n<p class=\"mb-10\">The roundup of news and trends that move your markets and shape corporate agendas delivered straight to your inbox.<\/p>\n<p>  <a target=\"_blank\" href=\"egypt\/en\/user\/NewsLetters\" type=\"button \" class=\"btn-green px-3 d-flex align-items-center\" rel=\"noopener\">Subscribe here<\/a>\n <\/p><\/div>\n<\/div>\n<\/div><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>IN THE HOUSE-<\/strong><\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><a id=\"wwtt5\"><\/a> <strong>The House is back in session for the 2023-2024 legislative season:<\/strong> Four bills are up for debate and vote today and tomorrow during plenary sessions in the House, including:<\/p><ul>\n<li><a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/9b182e4c-7409-4375-b92f-82f32198f67c\" style=\"\" rel=\"noopener\">wage and pension hikes<\/a> <\/li>\n<li>changes to <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/96908889-0ee2-45a7-b223-c57c6f32bec1\" style=\"\" rel=\"noopener\">income tax exemptions<\/a> <\/li>\n<li>a new round of the expat car import for FX scheme<\/li>\n<li>a bill that would allow foreign companies to become importers for the first time.<\/li>\n<\/ul><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>If that wasn\u2019t enough, a further eight foreign agreements are also on the agenda<\/strong>, including:<\/p><ul>\n<li>Raising Egypt\u2019s contribution to the paid-up capital of the <strong>African Development Bank<\/strong>;<\/li>\n<li>A pact with Japan on the first phase of the fourth line of Cairo\u2019s Metro as well as an agreement with South Korea to manufacture and supply 320 train coaches for the Cairo Metro;<\/li>\n<li>Approving a EUR 670k Spanish grant earmarked to modernize water systems in the agricultural sector;<\/li>\n<li>A credit facility that will see TMH International supply 1.3k train coaches to the Egyptian National Railway;<\/li>\n<li>Banning double taxation on profits generated from air transport between Egypt and Brazil;<\/li>\n<li>And agreements on the disposal of dangerous waste and on traffic signals.<\/li>\n<\/ul><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>** Head down to this morning\u2019s news well for a full rundown on the bills that matter most to business <\/strong>as we settle in for the 2023-2024 legislative season.<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>CIRCLE YOUR CALENDAR-<\/strong><\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Lynx forum on EVs kicks off today:<\/strong>The forum, backed by USAID, international development NGO <a target=\"_blank\" href=\"https:\/\/www.dai.com\/\" style=\"\" rel=\"noopener\">DAI<\/a>, and Uber, will see industry leaders, government officials and international experts meet to discuss the rollout of electric vehicles in Egypt. After the discussions, a proposed roadmap to accelerate the local adoption of EVs will be submitted to the Supreme Automotive Industrial Council, according to a <a target=\"_blank\" href=\"https:\/\/ent.news\/2023\/10\/692.pdf\" style=\"\" rel=\"noopener\">joint press<\/a><a target=\"_blank\" href=\"https:\/\/ent.news\/2023\/10\/692.pdf\" style=\"\" rel=\"noopener\">release<\/a><a target=\"_blank\" href=\"https:\/\/ent.news\/2023\/10\/692.pdf\" style=\"\" rel=\"noopener\">(pdf)<\/a>.<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Not enough IMF news in this morning\u2019s issue for you? <\/strong>There are still a few hours left for more: The Fund and the World Bank will wrap up their annual meetings today in Morocco in just a few hours. <\/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\/antony-blinken\/\">Antony Blinken<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/diplomacy\/\">DIPLOMACY<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/egypt-us-relations\/\">Egypt-US relations<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/gaza\/\">Gaza<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/israel\/\">Israel<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/israel-palestine-conflict\/\">Israel-Palestine conflict<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/middle-east-politics\/\">Middle East politics<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/palestine\/\">Palestine<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/politics\/\">politics<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/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=\"608084 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=\"608084\">\r\n            \r\n            <div class=\"story__body\">\r\n\r\n                <a href=\"https:\/\/enterpriseam.com\/egypt\/2023\/10\/15\/608084\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-608084\" class=\"content-area-description single-story post-608084 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:\/\/oceanmanswim.com\/somabay-egypt\/\" target=\"_blank\" rel=\"noopener\"><img data-recalc-dims=\"1\" decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2023\/10\/584.png?ssl=1\"><\/a><\/span><\/p><div class=\"grouped-tags\">\n<p><span>Oceanman is coming back to Somabay Red Sea for the third year in a row on 20-21 October 2023. More than 500 swimmers from 34 different countries worldwide. Uniting both professional and amateur open water swimmers from all over the world. Different races for athletes of all levels: 10 km, 5 km, 1.5 km and 3 x 500 m relay. Tap or click the image above for the experience of a lifetime.<\/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=\"608085\" 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=\"608085\">\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\">Economy<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2023\/10\/15\/we-want-usd-2-bn-more-from-imf-to-bring-our-assistance-program-to-usd-5-bn-a-report-claims\/\">\r\n                            Egypt wants to increase its IMF loan to more than USD 5 bn, Bloomberg says. PLUS: USD 1.5 bn of fresh borrowing this quarter, says Maait                        <\/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\/15\/we-want-usd-2-bn-more-from-imf-to-bring-our-assistance-program-to-usd-5-bn-a-report-claims\/\" target=\"_blank\">\n                    Open in new tab                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/new-tab.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a href=\"#\" target=\"_blank\" onclick=\"event.preventDefault(); 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The Fund will need to sign off on the first two reviews of the program before any announcement is made topping up the loan, the people said.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Remember:<\/strong> The IMF postponed reviews scheduled for March and September after authorities failed to meet several conditions of the facility, including a commitment to implement a fully flexible exchange rate. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>We could know more before the end of the month: <\/strong>The IMF will announce by the end of October when it will conduct its reviews, Finance Minister Mohamed Maait told <a target=\"_blank\" href=\"https:\/\/bit.ly\/3LWJjmL\" style=\"\" rel=\"noopener\">Al Arabiya<\/a> in an interview on Saturday. IMF Managing Director Kristalina Georgieva said earlier in the week that the Fund is in \u201cclose engagement\u201d with the government about setting the dates but didn\u2019t offer further details. Maait <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/d46ba8bf-1e15-4d11-810a-d9e5721aeed6\" style=\"\" rel=\"noopener\">said last week<\/a> that the reviews will be completed before the end of the year. Passing the reviews would see the Fund disburse USD 700 mn under the loan program, along with USD 1.3 bn under its <a target=\"_blank\" href=\"https:\/\/www.imf.org\/en\/About\/Factsheets\/Sheets\/2023\/Resilience-Sustainability-Facility-RSF\" style=\"\" rel=\"noopener\">Resilience and Sustainability Facility<\/a>.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Extra money comes = extra conditions.<\/strong> Look for the IMF to request that the government undertake more far-reaching structural reforms in return for bumping up the size of the assistance program. Bloomberg did not have further details about the nature of the conversations, though its sources said that no agreement has been made.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>An upscaled program has been floated recently by some analysts<\/strong>, including Hany Geneina who <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/c4c99b98-6ac1-44ac-92fc-525f702f20e4\" style=\"\" rel=\"noopener\">told us earlier this month<\/a> that the Fund could increase the loan in return for a commitment to undertaking reforms early in 2024 including the currency float and a lifting of energy subsidies.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>\u201cEgypt has made good progress on a number of fronts,\u201d<\/strong><a target=\"_blank\" href=\"https:\/\/www.bloomberg.com\/news\/articles\/2023-10-12\/egypt-and-imf-working-to-set-date-for-mission-on-delayed-review\" style=\"\" rel=\"noopener\">Bloomberg<\/a> quotes Georgieva as saying on Thursday. Cabinet has made headway on asset sales, fiscal policy, and monetary policy reform, she said at the IMF and World Bank annual meetings in Morocco. Georgieva said going into the meetings that we would continue to <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/34d82cce-f4dd-436a-b2d7-ef783c0903de\" style=\"\" rel=\"noopener\">\u201cbleed\u201d reserves<\/a> if the currency is not devalued.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>USD 1.5 BN IN FRESH BORROWING THIS QUARTER-<\/strong><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"> <strong>Panda + Samurai bond issuances this quarter<\/strong>? The government expects to borrow at least USD 1.5 bn between now and the end of the year, Maait told <a target=\"_blank\" href=\"https:\/\/www.bloomberg.com\/news\/articles\/2023-10-12\/egypt-lines-up-1-5-billion-in-funding-with-panda-samurai-deals\" style=\"\" rel=\"noopener\">Bloomberg<\/a>. This includes the planned USD 500 mn issuances of CNY-denominated bonds in October and JPY-denominated bonds in November. The <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/b14c48be-738f-45a5-8d23-28974b1f7d4c\" style=\"\" rel=\"noopener\">African Development Bank<\/a> (AfDB) and the Asian Infrastructure Investment Bank (AIIB) have guaranteed up to USD 545 mn of the panda bonds, the minister added. The <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/b14c48be-738f-45a5-8d23-28974b1f7d4c\" style=\"\" rel=\"noopener\">AfDB<\/a> is covering USD 345 mn and the <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/d6459246-e267-4100-8f16-9fbcf01109ba\" style=\"\" rel=\"noopener\">AIIB<\/a> USD 200 mn.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>A syndicated bank loan:<\/strong> The government hopes to reach an agreement this month with a syndicate of banks for a USD 500 mn loan, Maait told the news outlet. He didn\u2019t disclose which lenders it is in talks with but said that Kuwaiti ins. company <a target=\"_blank\" href=\"https:\/\/www.dhaman.net\/en\/\" style=\"\" rel=\"noopener\">Dhaman<\/a> could guarantee the loan.<\/p>\n\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/debt-watch\/\">debt watch<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/economy\/\">economy<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/finance-ministry\/\">Finance Ministry<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/imf\/\">IMF<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/kristalina-georgieva\/\">Kristalina Georgieva<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/mohamed-maait\/\">Mohamed Maait<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                    <\/div>\n    <\/div>\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"608087\" 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=\"608087\">\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\/15\/budget-deficit-to-widen-to-10-7-this-fiscal-year-imf\/\">\r\n                            Egypt\u2019s budget deficit to widen to 10.7% this fiscal year -IMF                        <\/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\/15\/budget-deficit-to-widen-to-10-7-this-fiscal-year-imf\/\" target=\"_blank\">\n                    Open in new tab                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/new-tab.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a href=\"#\" target=\"_blank\" onclick=\"event.preventDefault(); 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The Fund is forecasting the deficit to increase to 10.7% of GDP this year from an estimated 4.6% the previous year. This would be the largest budget deficit as a percentage of GDP since the 2015-16 fiscal year. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The IMF had projected a<\/strong><strong> 9.2% d<\/strong><strong>eficit<\/strong> this fiscal year in its <a target=\"_blank\" href=\"https:\/\/ent.news\/2023\/10\/701.pdf\" style=\"\" rel=\"noopener\">previous<\/a><a target=\"_blank\" href=\"https:\/\/ent.news\/2023\/10\/701.pdf\" style=\"\" rel=\"noopener\">forecast (pdf)<\/a> in April.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Higher for longer:<\/strong>The deficit is expected to remain elevated in the coming years, widening to 11.1% next year before narrowing to 10.1% in FY 2025-26 and 7.8% by FY 2027-28.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>A smaller primary surplus:<\/strong> The IMF is now projecting the primary surplus to narrow to 1.5% of GDP in FY 2023-24 from an estimated 2.3% last year. In April it had expected the surplus to grow to 2.2% this year from 1.6% in FY 2022-23.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Spending is rising rapidly. Revenues are not.<\/strong> The IMF now expects government spending to rise to 28.9% of GDP in FY 2023-24, up from an estimated 22.8% last year. At the same time, government revenues will remain flat as a percentage of GDP, with the Fund forecasting them to come in at 18.1% for the second year in a row.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The wrong direction:<\/strong> The IMF\u2019s previous projections had revenues rising to 19.8% of GDP this year from 18.7% last year. The latest spending forecast is essentially unchanged from April\u2019s 29.0% forecast.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Debt-GDP to fall, but by less than previously thought:<\/strong> The IMF is now forecasting Egypt\u2019s gross debt to fall to 88.1% of GDP this year from an estimated 92.7% in FY 2022-2023. In April, the Fund had expected debt to fall to 87.0% from 92.9% the previous year.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Remember:<\/strong> The IMF last week <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/18f5a345-3af0-4908-af1b-d9a8a46852a1\" style=\"\" rel=\"noopener\">downgraded its FY 2023-24 growth outlook<\/a> for Egypt for the second time this year. It now expects the economy to grow at a 3.6% clip this year, down from an estimated 4.2% in FY 2022-23.<\/p>\n\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/budget-deficit\/\">budget deficit<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/budget-watch\/\">budget watch<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/economy\/\">economy<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/imf\/\">IMF<\/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=\"608089\" 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=\"608089\">\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\">WAR WATCH<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2023\/10\/15\/egypt-condemns-israels-forced-displacement-of-palestinians-demands-israel-and-the-us-allow-aid-to-enter-gaza\/\">\r\n                            Egypt condemns Israel\u2019s forced displacement of Palestinians, demands Israel and the US allow aid to enter Gaza                        <\/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\/15\/egypt-condemns-israels-forced-displacement-of-palestinians-demands-israel-and-the-us-allow-aid-to-enter-gaza\/\" 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 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                <div class=\"photo photo--above\">\r\n                        <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2023\/10\/715.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"608090\" data-permalink=\"https:\/\/enterpriseam.com\/egypt\/2023\/10\/15\/egypt-condemns-israels-forced-displacement-of-palestinians-demands-israel-and-the-us-allow-aid-to-enter-gaza\/715-jpg-8\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2023\/10\/715.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"715.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2023\/10\/715.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2023\/10\/715.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-608089\" class=\"content-area-description single-story post-608089 post type-post status-publish format-standard has-post-thumbnail hentry category-war-watch tag-abdel-fattah-el-sisi tag-diplomacy tag-egypt-israel-relations tag-egypt-turkey-relations tag-egypt-us-relations tag-enterpriseam tag-israel tag-israel-palestine-conflict tag-middle-east-politics tag-sameh-shoukry tag-turkey tag-un tag-war-watch wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<figure class=\"wp-block-audio mb-0\"><audio controls preload=\"metadata\" src=\"https:\/\/s3.us-east-1.amazonaws.com\/ent.news\/audio\/2023\/10\/.82cf63ba-9462-4ec3-a5de-5e0c724d34e7.mp3\"><\/audio><\/figure>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"> <strong>Egypt condemns Gaza displacement, demands aid entry to prevent <\/strong><strong>humanitarian catastrophe:<\/strong> Israel\u2019s order that some 1 mn Palestinians in Gaza leave their homes is a \u201cgrave violation\u201d of international law, Egypt\u2019s Foreign Ministry <a target=\"_blank\" href=\"https:\/\/bit.ly\/3M2t4oe\" style=\"\" rel=\"noopener\">said<\/a> Friday after the Israeli military told residents of Gaza City to move south. The ministry urged the UN Security Council to intervene to prevent Israel from escalating its attacks and driving people from their homes, which the UN said would trigger a humanitarian catastrophe. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The situation on the ground is dire:<\/strong>According to the <a target=\"_blank\" href=\"https:\/\/www.unrwa.org\/newsroom\/official-statements\/matter-life-and-death-water-runs-out-2-million-people-gaza\" style=\"\" rel=\"noopener\">UN\u2019s Palestine refugee agency<\/a>, almost half of Gaza\u2019s population has now been displaced, a process which accelerated over the weekend as civilians fled south in fear of further bombardment by the Israeli military. The territory is now facing a \u201csevere shortage\u201d of water, the UN said, as Israel\u2019s total siege prevents clean water, food, fuel and humanitarian aid from entering. Palestinian Prime Minister Mohamed Shtayyeh on Thursday said that <a target=\"_blank\" href=\"https:\/\/www.fananews.com\/en\/shtayyeh-israel-continues-its-crimes-and-commits-genocide-against-civilians-in-gaza\/\" style=\"\" rel=\"noopener\">Israel\u2019s actions amount to genocide<\/a>.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Everyone is bracing for an invasion:<\/strong> Israel said troops are getting ready for \u201ca significant ground operation \u2026 [including] an integrated and coordinated attack from the air, sea and land,\u201d the <a target=\"_blank\" href=\"https:\/\/www.nytimes.com\/live\/2023\/10\/14\/world\/israel-news-hamas-war-gaza\/here-is-the-latest-on-the-war?smid=url-share\" style=\"\" rel=\"noopener\">New York Times<\/a> reports Israel\u2019s military as having said. <strong>Israel has yet to announce when it plans to invade.<\/strong><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Egypt rejects calls to resettle Palestinians in Egypt:<\/strong> In a speech Thursday, President Abdel Fattah El Sisi rejected calls by Israel and Western nations to allow Gazans into Egypt, saying that Palestinians should remain on their land and warning that leaving the strip could \u201cliquidate\u201d their cause (<a target=\"_blank\" href=\"https:\/\/www.youtube.com\/watch?v=rslNXF1R5Zg\" style=\"\" rel=\"noopener\">watch, runtime: 19:53<\/a>). State news agency <a target=\"_blank\" href=\"https:\/\/www.mena.org.eg\/news\/dbcall\/table\/textnews\/id\/10384686\" style=\"\" rel=\"noopener\">MENA<\/a> last week quoted an unnamed security source accusing Israel of carrying out a plan to forcibly transfer the population of Gaza into Egypt. \u201cThe occupation government is forcing Palestinians to choose between death under bombing or displacement outside their lands,\u201d it quoted the official as saying.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Arab nations warn against displacement:<\/strong> The <a target=\"_blank\" href=\"https:\/\/twitter.com\/KSAmofaEN\/status\/1713262740138086697\" style=\"\" rel=\"noopener\">Saudi<\/a> and <a target=\"_blank\" href=\"https:\/\/twitter.com\/MofaQatar_EN\/status\/1713156422987288707\" style=\"\" rel=\"noopener\">Qatari<\/a> foreign ministries expressed their \u201ccategorical rejection\u201d of Israel\u2019s displacement of the Palestinians, Jordan\u2019s King Abdullah II <a target=\"_blank\" href=\"https:\/\/twitter.com\/Petranews\/status\/1712752675144499454\" style=\"\" rel=\"noopener\">warned against<\/a> \u201cany attempt to forcibly displace\u201d Gaza\u2019s population, and Arab League chair Ahmed Aboul Gheit <a target=\"_blank\" href=\"http:\/\/www.leagueofarabstates.net\/ar\/news\/Pages\/NewsDetails.aspx?RID=4240\" style=\"\" rel=\"noopener\">called on<\/a> UN Secretary-General Antonio Guterres to condemn the \u201cinsane Israeli effort to transfer the population.\u201d<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Backing from <\/strong><strong>Turkey<\/strong><strong>: <\/strong>\u201cWe reject the policy of Palestinians' being removed from their homes in Gaza and exiled into Egypt. We are fully against it and stand with Egypt,\u201d Turkish foreign minister Hakan Fidan said in a press conference following <a target=\"_blank\" href=\"https:\/\/bit.ly\/45vHy7k\" style=\"\" rel=\"noopener\">talks with El Sisi<\/a> and Foreign Minister Sameh Shoukry in Cairo on Saturday, according to <a target=\"_blank\" href=\"https:\/\/www.reuters.com\/world\/middle-east\/turkey-rejects-exile-palestinians-stands-with-egypt-2023-10-14\/\" style=\"\" rel=\"noopener\">Reuters<\/a>. The Turkish Foreign Ministry had earlier <a target=\"_blank\" href=\"https:\/\/www.mfa.gov.tr\/no_-257_-israil-ordusunun-gazze-nin-kuzeyinde-yasayan-nufusun-bolgeden-cekilmesi-talebi-hk.en.mfa\" style=\"\" rel=\"noopener\">condemned<\/a> Israel\u2019s \u201cbrutal and indiscriminate\u201d attacks on Gaza.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Western nations are reportedly trying to use Egypt\u2019s economic crisis as leverage:<\/strong> \u201cWe understand there have been offers to Egypt by some western governments for debt forgiveness and direct investment in return for a more flexible position on Gaza,\u201d a senior Cairo-based banker reportedly told <a target=\"_blank\" href=\"https:\/\/www.thenationalnews.com\/mena\/egypt\/2023\/10\/14\/latest-gaza-conflict-puts-egypts-relations-with-israel-to-the-test\/\" style=\"\" rel=\"noopener\">the National<\/a>.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Allow in aid or no-one gets out, says Egypt:<\/strong> Egypt is refusing to allow citizens of western countries to evacuate Gaza via the Rafah crossing until Israel and the US agree to allow in humanitarian aid, the <a target=\"_blank\" href=\"https:\/\/www.wsj.com\/world\/middle-east\/u-s-egypt-reach-deal-to-evacuate-americans-from-gaza-41b32db6\" style=\"\" rel=\"noopener\">Wall<\/a><a target=\"_blank\" href=\"https:\/\/www.wsj.com\/world\/middle-east\/u-s-egypt-reach-deal-to-evacuate-americans-from-gaza-41b32db6\" style=\"\" rel=\"noopener\">Street Journal<\/a> reported last night. US officials had been in negotiations with Egyptian authorities to allow its citizens to cross the border into Egypt. \u201cWe can\u2019t allow a few foreigners out and not allow humanitarian aid in for the Palestinians who will be stuck there,\u201d said one Egyptian official.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>No mercy:<\/strong> \u201cHumanitarian aid to Gaza? No electrical switch will be lifted, no water hydrant will be opened and no fuel truck will enter until the Israeli hostages are returned home,\u201d Israel\u2019s energy minister <a target=\"_blank\" href=\"https:\/\/twitter.com\/Israel_katz\/status\/1712356130377113904\" style=\"\" rel=\"noopener\">wrote on X<\/a> (formerly Twitter) on Thursday.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Aid is being flown into Egypt: <\/strong>The Foreign Ministry on Thursday <a target=\"_blank\" href=\"https:\/\/bit.ly\/3QkQCaQ\" style=\"\" rel=\"noopener\">called on<\/a> countries and international organizations who wish to help Gaza out to send aid to El Arish airport, which the government has designated as a spot for aid collection. Two flights carrying aid, including one from Turkey, landed at the airport yesterday, bringing the total number that have arrived since the conflict started to at least five, according to <a target=\"_blank\" href=\"https:\/\/www.reuters.com\/world\/middle-east\/more-aid-flights-arrive-egypts-sinai-awaiting-passage-gaza-2023-10-14\/\" style=\"\" rel=\"noopener\">Reuters<\/a>.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The flurry of diplomatic activity continued over the weekend<\/strong> as regional leaders scrambled to avert a humanitarian disaster and prevent the conflict from dragging in neighboring countries.<\/p>\n<ul>\n<li><strong>El Sis<\/strong>i spoke to his Brazilian counterpart <a target=\"_blank\" href=\"https:\/\/bit.ly\/45umYnO\" style=\"\" rel=\"noopener\">Lula da Silva<\/a>, French President <a target=\"_blank\" href=\"https:\/\/bit.ly\/3tE4HH7\" style=\"\" rel=\"noopener\">Emmanuel Macron<\/a>, and British prime minister <a target=\"_blank\" href=\"https:\/\/bit.ly\/46v48y8\" style=\"\" rel=\"noopener\">Rishi Sunak<\/a> over the phone.<\/li>\n<li><strong>Shoukry<\/strong> held talks with his <a target=\"_blank\" href=\"https:\/\/bit.ly\/3QfGi3M\" style=\"\" rel=\"noopener\">Japanese<\/a>, <a target=\"_blank\" href=\"https:\/\/bit.ly\/48Tk5zG\" style=\"\" rel=\"noopener\">German<\/a>, and <a target=\"_blank\" href=\"https:\/\/bit.ly\/46v6g96\" style=\"\" rel=\"noopener\">British<\/a> counterparts.<\/li>\n<li><strong>US Secretary of State Antony Blinken<\/strong> has traveled to <a target=\"_blank\" href=\"https:\/\/www.state.gov\/secretary-blinkens-travel-to-israel-jordan-qatar-saudi-arabia-the-united-arab-emirates-and-egypt\/\" style=\"\" rel=\"noopener\">several countries<\/a> in the Middle East looking to minimize blowback in the region, including the UAE, Saudi Arabia, Qatar, Jordan, and Bahrain. His first stop-off was in Israel where he pledged more US support. <\/li>\n<li><strong>Iranian foreign minister Hossein Amir Abdollahian<\/strong> has also been touring the region, holding talks with the leadership of <a target=\"_blank\" href=\"https:\/\/en.mfa.ir\/portal\/newsview\/731435\/Iran-FM-resistance-leaders-meet-in-Beirut\" style=\"\" rel=\"noopener\">Hamas<\/a> and <a target=\"_blank\" href=\"https:\/\/www.reuters.com\/world\/middle-east\/irans-foreign-minister-meets-hezbollah-leader-lebanon-israel-hamas-war-2023-10-13\/\" style=\"\" rel=\"noopener\">Hezbollah<\/a>, the prime ministers of <a target=\"_blank\" href=\"https:\/\/en.mfa.ir\/portal\/newsview\/731402\" style=\"\" rel=\"noopener\">Lebanon<\/a> and <a target=\"_blank\" href=\"https:\/\/en.mfa.ir\/portal\/newsview\/731373\" style=\"\" rel=\"noopener\">Iraq<\/a>, the foreign ministers of <a target=\"_blank\" href=\"https:\/\/twitter.com\/MofaQatar_EN\/status\/1713268713309319656\" style=\"\" rel=\"noopener\">Qatar<\/a> and Syria, and the UN envoy to the Middle East.<\/li>\n<li><strong>Chinese foreign minister<\/strong><strong><a target=\"_blank\" href=\"https:\/\/www.fmprc.gov.cn\/wjbzhd\/202310\/t20231014_11161031.shtml\" style=\"\" rel=\"noopener\">Wang Yi<\/a><\/strong> and <strong>Russian president <\/strong><strong><a target=\"_blank\" href=\"http:\/\/en.kremlin.ru\/events\/president\/transcripts\/72500\" style=\"\" rel=\"noopener\">Vladimir Putin<\/a><\/strong> have both criticized one-sided US policy for contributing to the crisis and voiced support for the creation of an independent Palestinian state.<\/li>\n<\/ul>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>A REGIONAL WAR \u2014 AND REGIONAL ECONOMIC DOWNTURN?<\/strong><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Iran has warned that it will intervene in the conflict if <\/strong><strong>Isra<\/strong><strong>el <\/strong><strong>continues its attack on Gaza<\/strong>, <a target=\"_blank\" href=\"https:\/\/www.axios.com\/2023\/10\/14\/iran-warning-israel-hezbollah-hamas-war-gaza\" style=\"\" rel=\"noopener\">Axios<\/a> reports, citing two diplomatic sources. During talks with the UN\u2019s envoy to the Middle East yesterday, the country\u2019s foreign minister Hossein Amir Abdollahian said that a ground offensive into Gaza will cross a red line and it will respond. Sporadic exchanges of fire continued on Israel\u2019s borders with Syria and Lebanon at the weekend, while the Israeli military has bombed airports in Syria several times in recent days.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Regional escalation in the Israel-Hamas war could create a global economic<\/strong><strong> downturn:<\/strong> The ongoing war between Israeli forces and Hamas will take a toll on global growth, says <a target=\"_blank\" href=\"https:\/\/www.bloomberg.com\/news\/features\/2023-10-12\/israel-hamas-war-impact-could-tip-global-economy-into-recession\" style=\"\" rel=\"noopener\">Bloomberg<\/a>, but to what extent will depend on the involvement of other regional actors. In a long read, the media outlet lays out <strong>three potential scenarios for how the conflict will hit global oil prices and growth rates<\/strong>.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The worst-case scenario:<\/strong> Bloomberg Economics estimates that if the war escalates into a direct confrontation between Israel and Iran, oil prices could spike to USD 150 per barrel, leading global growth rates to slow to 1.7%. This would chop around USD 1 tn off world output and put global inflation at 6.7% in 2024. <\/p>\n\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/abdel-fattah-el-sisi\/\">Abdel Fattah El Sisi<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/diplomacy\/\">DIPLOMACY<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/egypt-israel-relations\/\">Egypt-Israel relations<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/egypt-turkey-relations\/\">Egypt-Turkey relations<\/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\/israel\/\">Israel<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/israel-palestine-conflict\/\">Israel-Palestine conflict<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/middle-east-politics\/\">Middle East politics<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/sameh-shoukry\/\">Sameh Shoukry<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/turkey\/\">Turkey<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/un\/\">UN<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/war-watch\/\">war watch<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                    <\/div>\n    <\/div>\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"608091 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=\"608091\">\r\n            \r\n            <div class=\"story__body\">\r\n\r\n                <a href=\"https:\/\/enterpriseam.com\/egypt\/2023\/10\/15\/608091\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-608091\" class=\"content-area-description single-story post-608091 post type-post status-publish format-standard hentry category-advertiser wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<p><span style=\"font-weight:400;\"><a href=\"https:\/\/www.grantthornton.global\/en\/locations\/Egypt\/\" target=\"_blank\" rel=\"noopener\"><img data-recalc-dims=\"1\" decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2023\/3\/674.png?ssl=1\"><\/a><\/span><\/p>\n\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"608092\" 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=\"608092\">\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\">LEGISLATION WATCH<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2023\/10\/15\/what-matters-to-business-as-the-house-reconvenes-for-the-2023-2024-legislative-season\/\">\r\n                            On the Egyptian House of Representatives\u2019 agenda for the 2023-2024 legislative season                        <\/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\/15\/what-matters-to-business-as-the-house-reconvenes-for-the-2023-2024-legislative-season\/\" target=\"_blank\">\n                    Open in new tab                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/new-tab.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a href=\"#\" target=\"_blank\" onclick=\"event.preventDefault(); 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class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"608093\" data-permalink=\"https:\/\/enterpriseam.com\/egypt\/2023\/10\/15\/what-matters-to-business-as-the-house-reconvenes-for-the-2023-2024-legislative-season\/703-jpg-9\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2023\/10\/703.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"703.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2023\/10\/703.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2023\/10\/703.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-608092\" class=\"content-area-description single-story post-608092 post type-post status-publish format-standard has-post-thumbnail hentry category-legislation-watch tag-automotive tag-digitization tag-enterpriseam tag-fdi tag-green-hydrogen tag-house-of-representatives tag-income-tax-act tag-legislation tag-legislation-watch tag-logistics tag-oil-and-gas tag-real-estate tag-social-welfare tag-tax 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\/.172ba52f-f77b-4644-9ce8-10cffdbea634.mp3\"><\/audio><\/figure>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"> <strong>It\u2019s a full Hous<\/strong><strong>e: <\/strong>After breaking for a three-month summer recess, MPs reconvene today to fully kick off the 2023-2024 legislative season. MPs are set to discuss and dissect <a target=\"_blank\" href=\"https:\/\/www.youm7.com\/6321457\" style=\"\" rel=\"noopener\">11 new government-drafted laws<\/a> and a number of pending legislative amendments over the coming months. Herewith, your primer on the most business-relevant pieces of lawmakers\u2019 agenda:<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>LABOR- <\/strong><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>A new and improved Labor Law: <\/strong>The new draft law was shelved earlier this year as the Madbouly cabinet <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/871ea863-674f-43ae-86c0-eca62612c541\" style=\"\" rel=\"noopener\">worked on redrafting it<\/a> after it came under fire for favoring workers. Prior to the amendments, the new law was going to introduce new labor rights including legislating mandatory annual raises, caps on working hours, and longer maternity leave and notice periods, among other things.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>GREEN HYDROGEN-<\/strong><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Green hydrogen incentives on the table: <\/strong>MPs will look into a number of green hydrogen incentives that will give companies VAT and income tax breaks. The companies need to implement their green hydrogen projects within five years and derive a certain percentage of their financing from foreign lenders to receive the incentives. Cabinet <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/a10abfdb-9dc8-4c91-ab5d-8513537de698\" style=\"\" rel=\"noopener\">approved<\/a> the incentives in May with the aim of stimulating Egypt\u2019s nascent green hydrogen industry. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>In detail: <\/strong>Companies will receive tax breaks of between 33-55% on income earned from the plants, and will pay no VAT on raw materials and machinery purchased for the projects. The facilities will be exempt from real estate tax, stamp tax, and a number of administrative fees. Companies will also be permitted to import and export without having their names in either of the registers.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>TAXATION- <\/strong><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>A new threshold for tax exemption: <\/strong>The personal income tax exemption threshold is set to rise to <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/96908889-0ee2-45a7-b223-c57c6f32bec1\" style=\"\" rel=\"noopener\">EGP 45k from EGP 36k<\/a>, reducing tax for mns of public- and private-sector employees. If the exemption proposed by President Abdel Fattah El Sisi <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/9b182e4c-7409-4375-b92f-82f32198f67c\" style=\"\" rel=\"noopener\">last month<\/a> passes the House, this would mark the second time the exemption has been raised this year after the government lifted it from <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/fa078628-011b-4bca-8bd8-fd3aa0ed7d39\" style=\"\" rel=\"noopener\">EGP 24k to EGP 36k<\/a> in July. The proposed amendments to the Income Tax Law will be referred to the House Planning and Budget Committee. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>INVESTMENT- <\/strong><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Opening up the importers register: <\/strong>The House will discuss a government-drafted decision allowing foreign investors to register as importers with <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/a254b1c5-fe22-492c-9e39-d5be1a93b2cc\" style=\"\" rel=\"noopener\">10-year licenses<\/a>, making it easier for them to get goods and production inputs into the country without contracting with an Egyptian middleman.A joint committee featuring the Economic Affairs Committee and the Legislative Affairs Committee will discuss the decision. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Faster dispute resolution: <\/strong>The House will also look into law amendments that would expand the jurisdiction of economic courts, allowing them to take on and settle final appeals for higher-value cases than is currently allowed. It was among 22 moves to reform the business climate <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/a3816fe9-2abf-4b6c-91ce-680ea72e2d1b\" style=\"\" rel=\"noopener\">put forward<\/a> by the Supreme Investment Council in May. The move was <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/b982f1bd-6431-49dc-89f5-b9d5f6597c8f\" style=\"\" rel=\"noopener\">greenlit by the cabinet<\/a> in June, but still needs committee approval before it can be ratified.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>REAL ESTATE-<\/strong><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>IDs for property:<\/strong> Over the summer, the cabinet <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/e2780d8b-88b3-445d-80b1-18e522119bf2\" style=\"\" rel=\"noopener\">approved<\/a> a draft law that would give each property a unique digital ID on a centralized government database. The government would issue ID cards or plates for each property as part of a push to build a comprehensive property inventory and <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/9651d500-0b8c-4b55-86bc-b7bc90e10303\" style=\"\" rel=\"noopener\">crack down on informal and unauthorized construction<\/a>.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>AND: <\/strong>The House will also discuss and vote on the amendments to 2008 Unified Building Law that <strong>ban construction outside authorized areas in cities, villages, and districts<\/strong>. The amendments <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/9a7335eb-c2fc-47c1-bf69-e87d32942cbf\" style=\"\" rel=\"noopener\">were approved<\/a> by the Senate late last year. The House will also look into the new building violation reconciliation law, which replaces a 2019 law designed to legalize informal buildings, and aims to prevent structures built next to the Nile from being legalized. The bill got the <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/0e91cb15-5151-475a-a80d-90205c0e59b3\" style=\"\" rel=\"noopener\">greenlight<\/a> from the House Housing Committee last December.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>SOCIAL SUPPORT-<\/strong><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Cost of living support: <\/strong>MPs will look into amendments to the Social Ins. Law granting pensioners and beneficiaries an <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/c921d112-4edc-4971-9ea1-302a2020e9a6\" style=\"\" rel=\"noopener\">EGP 600<\/a> exceptional cost of living payment. The amendments also grant public-sector employees a one-time bonus payout of <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/8f9bed9d-2a82-46b4-a735-2811be58785c\" style=\"\" rel=\"noopener\">EGP 600<\/a>.The Manpower Committee will discuss and vote on the matter before it moves on to the general assembly. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>CAR IMPORT SCHEME-<\/strong><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Expat car import scheme 2.0: <\/strong>The government is set to reopen its <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/e5cadb00-f078-4c70-8667-8d5fc50ad151\" style=\"\" rel=\"noopener\">expat car import initiative<\/a> for a three-month period under a draft law approved by the Madbouly cabinet. The scheme allows expats to receive full rebates on customs fees, VAT, and other taxes within five years of purchasing a vehicle, provided they pay them upfront in FX. The Planning and Budget Committee, the Economic Affairs Committee, the Legislative Affairs Committee, and the Foreign Relations Committee will form a joint committee to look into the matter. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>REMEMBER: <\/strong>Some 167k Egyptian expats reportedly registered in the first round of the scheme, which raised around <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/adc21580-5328-42dd-8b3e-402afed49b10\" style=\"\" rel=\"noopener\">USD 900 mn<\/a> \u2014 a little over a third of the USD 2.5 bn originally targeted by the Finance Ministry. The scheme was initially set to remain open for three months from November 2022, but was extended through to May 2023 as part of the government\u2019s efforts to maximize FX inflows.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>OIL EXPLORATION- <\/strong><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Four oil exploration agreements: <\/strong>The House will discuss four draft laws authorizing the Oil Ministry to contract Russia\u2019s Lukoil to <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/3941e2bc-9adc-4b5b-ac90-b32fdd29478d\" style=\"\" rel=\"noopener\">explore<\/a> the Eastern desert for oil alongside state-owned GEPCO. the Kuwait Foreign Petroleum Exploration Company (Kufpec), a subsidiary of the country\u2019s state oil company, will work with Pico Petroleum and state-owned Egyptian General Petroleum Corporation (EGPC) <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/3fc0de29-51fd-4bab-92a0-27b66b27dfcd\" style=\"\" rel=\"noopener\">to explore for oil<\/a> in the Geisum and Tawila West concession in the Gulf of Suez. Two of the draft laws concern ExxonMobil, which will partner with state gas firm EGAS to search for gas and crude oil in the offshore Cairo and Masry concessions in the Mediterranean. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>REMEMBER: <\/strong>The cabinet greenlit the exploration agreements for these projects over the past few months. The agreements between ExxonMobil and EGAS and between Pico and Kufpee are worth some USD 319.5 mn. The draft laws will be referred to the House Energy and Environment Committee. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>LOGISTICS-<\/strong><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Safaga Port\u2019s management: <\/strong>A <a target=\"_blank\" href=\"https:\/\/www.facebook.com\/EgyptianCabinet\/posts\/pfbid08BtgGrRiKWDys9dCCtNCeTtRtafdFhoBiy41GR8XiqsTLWfQ5XeW38pjbgQhrfWcl\" style=\"\" rel=\"noopener\">draft cabinet decision<\/a> granted the Egyptian joint stock company Safaga Station Operating Company the right to build and develop the superstructure of the Safaga Port as well as handle its management, operation, and management. A joint committee including the Transport Committee and the Legislative Affairs Committee will discuss and vote on the decision. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>** ALSO ON THE AGENDA- <\/strong><a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/1048ec81-b8b7-415c-8baa-b4ea3e6f3ecc\" style=\"\" rel=\"noopener\">Amendments<\/a> to the penal code that could apply tougher penalties for those found guilty of harassment or assault are also on House\u2019s agenda over the coming months. There are also a number of draft laws on regulating drinking water, establishing a medical emergencies fund, regulating pharma practices, protecting senior citizen rights, and regulating child custody procedures. <\/p>\n\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/automotive\/\">automotive<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/digitization\/\">digitization<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/fdi\/\">FDI<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/green-hydrogen\/\">green hydrogen<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/house-of-representatives\/\">House of Representatives<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/income-tax-act\/\">income tax act<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/legislation\/\">legislation<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/legislation-watch\/\">Legislation Watch<\/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\/oil-and-gas\/\">oil and gas<\/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\/social-welfare\/\">social welfare<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/tax\/\">tax<\/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=\"608094\" 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=\"608094\">\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\">Development finance<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2023\/10\/15\/ebrd-could-greenlight-funds-for-electricity-grid-modernization\/\">\r\n                            EBRD considering EUR 165 mn loan to upgrade Egypt\u2019s electricity grid, phase out aged stations                        <\/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\/15\/ebrd-could-greenlight-funds-for-electricity-grid-modernization\/\" target=\"_blank\">\n                    Open in new tab                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/new-tab.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a href=\"#\" target=\"_blank\" onclick=\"event.preventDefault(); 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The funds would be given to the Egyptian government for on-lending to the state-owned Egyptian Electricity Transmission Company (EETC). The approval date for the loan has been set as 13 December 2023. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Where will the funds go? <\/strong>The loan will finance the upgrade of a 500 kV substation in Cairo governorate that will enable the decommissioning of an aging gas-fired power plant in Shubra El Kheima. Smaller substations across the country are also set for upgrades under the plan. Funds will also be pumped into building a 200 km high-voltage overhead transmission line that will transmit some 2.1 GW of renewable energy from wind plants in the Gulf of Suez. Of the total loan, 60% will be dedicated to the construction of the transmission line, with the remaining 40% going to the 500 kV substation in Cairo and other smaller substations.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Remember:<\/strong> The EBRD is the lead partner in Egypt\u2019s Nexus for Food, Water and Energy (NWFE) energy plan to which it pledged to contribute <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/f210ba90-7f65-412c-a3e1-b0ad2e297f03\" style=\"\" rel=\"noopener\">USD 200-300 mn<\/a>. The money will be used to <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/bb47fa0e-86be-4684-9bfb-ee1067524e29\" style=\"\" rel=\"noopener\">decommission<\/a> 5 GW of gas-fired power plants by 2025 and establish 10 GW of solar and wind projects by 2028. NWFE\u2019s energy project plans to mobilize USD 10 bn in private-sector investment and <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/b708cb4f-36f2-41f9-a001-4b00bfcbe2b4\" style=\"\" rel=\"noopener\">USD 500 mn<\/a> in soft loans, grants, and assistance from donors and international financial institutions. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The EU may also be helping out:<\/strong> The project will require EUR 200 mn, with the remaining EUR 35 mn coming from EU grants, which will be subject to EU approvals, the lender wrote. Yet it\u2019s still more than we expected, with local media reporting last week that the government was trying to secure a <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/b708cb4f-36f2-41f9-a001-4b00bfcbe2b4Gov%E2%80%99t%20wants%20to%20start%20drawing%20on%20the%20EBRD%E2%80%99s%20financial%20contribution%20to%20the%3Cmark%3E%20NWFE%20%3C%2Fmark%3Eenergy%20project.%20PLUS:%20News%20from%20Pachin,%20Vezeeta,%20Contact%20Financial,%20Roboost,%20and%20McDonald%E2%80%99s.\" style=\"\" rel=\"noopener\">USD 150 mn loan<\/a> from the EBRD as part of its NWFE program before the end of the year.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Part of a wider renewables project: <\/strong>The EETC is seeking funds to implement a USD 2 bn investment program that will upgrade the grid, phase out aging stations, and help Egypt reach its goal of having 42% of its electricity renewably generated <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/06e7e381-df4d-4d89-94c7-428dba34d5a3\" style=\"\" rel=\"noopener\">by 2030<\/a> and 60% <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/04dda22d-b376-4d76-bf9a-50f917a5ac39\" style=\"\" rel=\"noopener\">by 2040<\/a>.<\/p>\n\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/development-finance\/\">development finance<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/ebrd\/\">EBRD<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/eetc\/\">EETC<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/electricity\/\">electricity<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/energy\/\">energy<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/nwfe\/\">NWFE<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/renewables\/\">renewables<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                    <\/div>\n    <\/div>\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"608096\" 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=\"608096\">\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\">Investment Watch<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2023\/10\/15\/mansour-auto-plans-new-factory-for-vehicle-assembly-components-manufacture\/\">\r\n                            Egypt\u2019s Mansour Auto plans new factory for vehicle assembly, components manufacture                        <\/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\/15\/mansour-auto-plans-new-factory-for-vehicle-assembly-components-manufacture\/\" target=\"_blank\">\n                    Open in new tab                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/new-tab.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a href=\"#\" target=\"_blank\" onclick=\"event.preventDefault(); 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This is in line with the Madbouly government\u2019s <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/1bb32be5-6b9f-4a72-8fb2-75e41e7cfdde\" style=\"\" rel=\"noopener\">automotive strategy<\/a> which aims to develop the local car industry in order for Egypt to become a regional manufacturing hub. Information about the timeline for the potential investment wasn\u2019t disclosed.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Is Mansour bringing anyone along for the ride? <\/strong>The statement following the meeting between Prime Minister Moustafa Madbouly and company chairman Mohamed Mansour and CEO Ankush Arora did not disclose whether the company would be partnering with foreign firms on the project.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Assembling EVs? <\/strong>While information about whether the potential factory will be assembling electric vehicles (EVs) or gasoline-powered cars hasn\u2019t been made public, <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/d75c978f-3cad-43f3-ac0d-44e5d5ab2b0b\" style=\"\" rel=\"noopener\">last year<\/a> the company announced it was close to finishing feasibility studies to start assembling EVs in Egypt. In November,Mohamed Mansour said that he intended to produce 15k EVs over the next three years and the company signed an MoU with long-term partner General Motors in late 2021 to explore the possibility of partnering up to produce EVs locally.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Plans for a 50% locally produced EV:<\/strong> The company also presented a feasibility study to Madbouly for the production of a new electric vehicle made initially with 50% local components, the statement reads. The company added that the locally made EV would progressively be made with more locally produced parts over several years, create thousands of jobs, and produce EVs at more affordable prices.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Remember:<\/strong> MPs approved legislation <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/f3876fc9-5cd4-424a-b98d-659dd3d67aed\" style=\"\" rel=\"noopener\">in July<\/a> that will see the establishment of a new regulatory body to set policy for the local automotive industry (including EV assembly). The legislation also set up a new fund to offer incentives to companies in the business of assembling environmentally-friendly cars. <\/p>\n\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/automotive\/\">automotive<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/evs\/\">EVs<\/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\/mansour-group\/\">Mansour Group<\/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\/moustafa-madbouly\/\">Moustafa Madbouly<\/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=\"608098 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=\"608098\">\r\n            \r\n            <div class=\"story__body\">\r\n\r\n                <a href=\"https:\/\/enterpriseam.com\/egypt\/2023\/10\/15\/608098\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-608098\" class=\"content-area-description single-story post-608098 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.sodic.com\/SodicSignatureCommunities#THEESTATESResidences\" target=\"_blank\" rel=\"noopener\"><img data-recalc-dims=\"1\" decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2023\/10\/415.jpg?ssl=1\"><\/a><\/span><\/p>\n\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"608099\" 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=\"608099\">\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\">LAST NIGHT\u2019S TALK SHOWS<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2023\/10\/15\/gaza-continues-to-dominate-the-talk-shows\/\">\r\n                            Gaza continues to dominate the talk shows                        <\/a>\r\n                    <\/h3>\r\n\r\n                    \r\n\t\t\t\t\t\n<div class=\"cta\">\n    <div class=\"cta__btn share-dropdown-cta dropdown-toggle-btn\" style=\"position:relative\">\n        <img decoding=\"async\" src=\"https:\/\/ent.news\/internal\/408834.svg\" alt=\"\">\n        Share Story\n        <!-- Dropdown Menu -->\n        <ul class=\"share-menu\">\n            <li class=\"list-inline-item\">\n                <a href=\"https:\/\/enterpriseam.com\/egypt\/2023\/10\/15\/gaza-continues-to-dominate-the-talk-shows\/\" 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\/15\/gaza-continues-to-dominate-the-talk-shows\/')\">\n                    Copy Link                <\/a>\n\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a target=\"_blank\" 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href=\"https:\/\/www.linkedin.com\/shareArticle?mini=true&url=https:\/\/enterpriseam.com\/egypt\/2023\/10\/15\/gaza-continues-to-dominate-the-talk-shows\/&title=Gaza continues to dominate the talk shows\">\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=Gaza+continues+to+dominate+the+talk+shows+https%3A%2F%2Fenterpriseam.com%2Fegypt%2F2023%2F10%2F15%2Fgaza-continues-to-dominate-the-talk-shows%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\/15\/gaza-continues-to-dominate-the-talk-shows\/\">\r\n                    <div class=\"photo photo--above\">\r\n                        <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2023\/10\/714.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"608100\" data-permalink=\"https:\/\/enterpriseam.com\/egypt\/2023\/10\/15\/gaza-continues-to-dominate-the-talk-shows\/714-jpg-10\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2023\/10\/714.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"714.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2023\/10\/714.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2023\/10\/714.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-608099\" class=\"content-area-description single-story post-608099 post type-post status-publish format-standard has-post-thumbnail hentry category-last-nights-talk-shows tag-enterpriseam tag-last-nights-talk-shows tag-middle-east-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\/.9cd77a2e-055a-4727-b332-1912d45e123b.mp3\"><\/audio><\/figure>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Much like the last eight days, t<\/strong><strong>he war in Gaza <\/strong><strong>remained the focus of last night\u2019s<\/strong><strong> talk show coverage<\/strong> as Israel intensified its bombardment, displacing almost 1 mn Palestinians.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>\u201cIn Gaza there is no safe pla<\/strong><strong>ce,\u201d <\/strong>Al Qahera News bureau chief Mona Okal told Lamees El Hadidi on Kelma Akhira, which also covered Israeli preparations for a ground invasion of the Gaza Strip (watch, runtime: <a target=\"_blank\" href=\"https:\/\/www.facebook.com\/KelmaAkhira\/posts\/pfbid023n6v1Rvub452Bzg7GhgnyVvPZp4CkVHJepabXMczdwSwTXa4Vy3CtwnExs6z7XBsl?__cft__[0]=AZXGs1lhzWhUzSo7s1JH--7XdX7ik0f9bT9TE09uX4ioEtcJD-DEAiRKtH4VDxL9rc7SF8OJiEyYPO9rviAXgCVGBucw1u3kzmWCMrYyDbV9uKwY5HcXx1dX0seQAY0fml-qWl9CJybGwTq_t3xuw58EMzUt1ceXPIJ77OuMP1CmPKyx3XMlVvwZo9QCAHqjQdM&__tn__=%2CO%2CP-R\" style=\"\" rel=\"noopener\">11:22<\/a> | <a target=\"_blank\" href=\"https:\/\/www.facebook.com\/KelmaAkhira\/posts\/pfbid02uwMJYJKCReYm9dFf61dfEskC6nLv5qRDyJKKH7JFYa17kg2sB4bjVH4AQzoeapTyl?__cft__[0]=AZXcPLCFAFUMv5fA7iOvL27EmuHpgRkRwCYpti-WnJpZHJUpvvCaY5Gx1P3UTeuvdI193LcG67NwoR_L0198dkR5csAWdJAuMbRUMLxSGq_NecIk8_oLtnzPTLNgZDYWODIoQaT9iWmg5mri3RNhofpuoN9DjvmQbZKcgc5yPkI4uLhq9zuQlkGwt4BMR9lgO3w&__tn__=%2CO%2CP-R\" style=\"\" rel=\"noopener\">4:49<\/a>). Former Palestinian Authority minister Qaddoura Fares told Masaa DMC that the death toll in the Gaza Strip has reached over 2.2k people including more than 700 children, (<a target=\"_blank\" href=\"https:\/\/www.facebook.com\/watch\/?v=1504620213709139\" style=\"\" rel=\"noopener\">watch, runtime: 8:15<\/a>). El Hekaya (watch, runtime: <a target=\"_blank\" href=\"https:\/\/www.facebook.com\/watch\/?v=358604739942005\" style=\"\" rel=\"noopener\">7:13<\/a> | <a target=\"_blank\" href=\"https:\/\/www.facebook.com\/watch\/?v=792768099287630\" style=\"\" rel=\"noopener\">2:03<\/a> | <a target=\"_blank\" href=\"https:\/\/www.facebook.com\/watch\/?v=624888912948080\" style=\"\" rel=\"noopener\">3:18<\/a>), Al Hayah Al Youm (<a target=\"_blank\" href=\"https:\/\/www.facebook.com\/watch\/?v=831457575318876\" style=\"\" rel=\"noopener\">watch, runtime: 5:29<\/a>), and Masaa DMC (<a target=\"_blank\" href=\"https:\/\/www.facebook.com\/watch\/?v=336206342305986\" style=\"\" rel=\"noopener\">watch, runtime: 5:14<\/a>) also had the story.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>El Sisi calls for peace:<\/strong> \u201cLiquidating the Palestinian issue is unacceptable and every conflict that does not lead to peace is futile and unreliable,\u201d President Abdel Fattah El Sisi told a crowd at a military academy graduation ceremony, (<a target=\"_blank\" href=\"https:\/\/www.youtube.com\/watch?v=rslNXF1R5Zg&ab_channel=eXtranews\" style=\"\" rel=\"noopener\">watch, runtime: 19:53<\/a>). El Sisi\u2019s speech got coverage on El Hekaya (<a target=\"_blank\" href=\"https:\/\/www.facebook.com\/watch\/?v=1749091832200489\" style=\"\" rel=\"noopener\">watch, runtime: 15:48<\/a>) and Ala Masouleety (<a target=\"_blank\" href=\"https:\/\/www.facebook.com\/watch\/?v=6859716784087407\" style=\"\" rel=\"noopener\">watch, runtime: 2:32<\/a>). <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>A<\/strong><strong>t the border:<\/strong> Egypt\u2019s refusal to allow US passport holders to cross the Rafah border in Sinai and the mobilization of aid in preparation for its entry into Gaza received coverage on most of last night\u2019s programs including Kelma Akhira (watch, runtime: <a target=\"_blank\" href=\"https:\/\/www.facebook.com\/watch\/?v=3422492998061319\" style=\"\" rel=\"noopener\">1:15<\/a> | <a target=\"_blank\" href=\"https:\/\/www.facebook.com\/watch\/?v=974204447212589\" style=\"\" rel=\"noopener\">3:28<\/a>), Ala Masouleety (<a target=\"_blank\" href=\"https:\/\/www.facebook.com\/watch\/live\/?ref=watch_permalink&v=982125352860850\" style=\"\" rel=\"noopener\">watch, runtime: 15:54<\/a>), and Al Hayah Al Youm (<a target=\"_blank\" href=\"https:\/\/www.facebook.com\/watch\/?v=700674288752800\" style=\"\" rel=\"noopener\">watch, runtime: 5:49<\/a>).<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>\u201c<\/strong><strong>The idea of displacing P<\/strong><strong>alestinians will fail and Israel\u2019s crimes in Gaza will not be<\/strong><strong> tolerated,\u201d <\/strong>Arab League Assistant Secretary-General Hossam Zaki told Ahmed Moussa on Ala Masouleety (<a target=\"_blank\" href=\"https:\/\/www.facebook.com\/watch\/?v=650960340498381\" style=\"\" rel=\"noopener\">watch, runtime: 12:54<\/a>). This message was later reiterated by the Palestinian Ambassador to Egypt Diab Al Louh (<a target=\"_blank\" href=\"https:\/\/www.facebook.com\/watch\/?v=880954143746977\" style=\"\" rel=\"noopener\">watch, runtime: 12:35<\/a>). US State Department regional spokesman Samuel Warberg also told Hadith fi Misr on Thursday that \u201cneither the US nor Israel can displace people from Gaza and move them to Egypt,\u201d (<a target=\"_blank\" href=\"https:\/\/www.youtube.com\/watch?v=_FiVddXed4w&ab_channel=%D9%8A%D8%AD%D8%AF%D8%AB%D9%81%D9%8A%D9%85%D8%B5%D8%B1\" style=\"\" rel=\"noopener\">watch, runtime: 18:41<\/a>).<\/p>\n\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/last-nights-talk-shows\/\">LAST NIGHT\u2019S TALK SHOWS<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/middle-east-politics\/\">Middle East politics<\/a>\n                <!-- <span 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         class=\"\r\n                story-section            \"\r\n            id=\"608102\">\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\/15\/saudi-healthcare-giant-invests-usd-100-mn-in-alex-project-plus-centamin-to-invest-usd-440-mn-in-egypt-over-two-year-period\/\">\r\n                            Saudi healthcare giant invests USD 100 mn in Alex project. PLUS: Centamin to invest USD 440 mn in two-year period                        <\/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\/15\/saudi-healthcare-giant-invests-usd-100-mn-in-alex-project-plus-centamin-to-invest-usd-440-mn-in-egypt-over-two-year-period\/\" 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\/15\/saudi-healthcare-giant-invests-usd-100-mn-in-alex-project-plus-centamin-to-invest-usd-440-mn-in-egypt-over-two-year-period\/')\">\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\/15\/saudi-healthcare-giant-invests-usd-100-mn-in-alex-project-plus-centamin-to-invest-usd-440-mn-in-egypt-over-two-year-period\/\">\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=Saudi healthcare giant invests USD 100 mn in Alex project. PLUS: Centamin to invest USD 440 mn in Egypt over two-year period&url=https:\/\/enterpriseam.com\/egypt\/2023\/10\/15\/saudi-healthcare-giant-invests-usd-100-mn-in-alex-project-plus-centamin-to-invest-usd-440-mn-in-egypt-over-two-year-period\/\">\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\/15\/saudi-healthcare-giant-invests-usd-100-mn-in-alex-project-plus-centamin-to-invest-usd-440-mn-in-egypt-over-two-year-period\/&title=Saudi healthcare giant invests USD 100 mn in Alex project. 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Bait Al-Batterjee Group, which owns the Saudi German Hospitals Group, has made significant investments in Egypt and pledged in 2020 to invest <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/d46de67a-e516-45c8-8490-3cae21d67d11\" style=\"\" rel=\"noopener\">EGP 40-50<\/a><a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/d46de67a-e516-45c8-8490-3cae21d67d11\" style=\"\" rel=\"noopener\">bn<\/a> over a 15-year period. Humania currently has financing commitments in North Africa of more than USD 350 mn, Rehan added, with that value expected to grow. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>MINING-<\/strong><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Centamin wants to turn USD into gold: <\/strong>LSE-listed gold miner Centamin wants to pump USD 440 mn into its Egypt operations within a two-year period, the company\u2019s CEO Martin Horgan said during a press conference, reports <a target=\"_blank\" href=\"https:\/\/www.alborsaanews.com\/2023\/10\/14\/1723151\" style=\"\" rel=\"noopener\">Al Borsa<\/a>. Centamin\u2019s capital expenditures for the year require USD 240 mn and a further USD 200 mn for 2024, in addition to funds for the group\u2019s Eastern Desert exploration project, where it currently operates Sukkari, the country\u2019s largest gold mine, the local outlet reported. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Centamin\u2019s exploration plans are nearly underway:<\/strong> The gold miner <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/4c561960-2f7a-4568-a4c9-11f0b54dc116\" style=\"\" rel=\"noopener\">reached a framework<\/a><a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/4c561960-2f7a-4568-a4c9-11f0b54dc116\" style=\"\" rel=\"noopener\">agreement<\/a> with the Oil Ministry in July on the terms for several exploration concessions it was <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/3a82b236-d72c-430e-9424-deae2c762298\" style=\"\" rel=\"noopener\">awarded in 2021<\/a>, including royalty and net income payments. The agreement still needs MPs\u2019 approval and is expected to come before the House later this year.<\/p>\n\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/also-on-our-radar\/\">ALSO ON OUR RADAR<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/centamin\/\">Centamin<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/fdi\/\">FDI<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/gold\/\">gold<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/healthcare\/\">healthcare<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/investment-watch\/\">investment watch<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/mining\/\">mining<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/the-saudi-german-hospitals-group\/\">The Saudi German Hospitals Group<\/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=\"608104\" 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=\"608104\">\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\/15\/omans-state-energy-company-offering-marks-countrys-largest-ever-ipo\/\">\r\n                            Oman\u2019s state energy company offering marks country\u2019s largest ever IPO                        <\/a>\r\n                    <\/h3>\r\n\r\n                    \r\n\t\t\t\t\t\n<div class=\"cta\">\n    <div class=\"cta__btn share-dropdown-cta dropdown-toggle-btn\" 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data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2023\/10\/711.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2023\/10\/711.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-608104\" class=\"content-area-description single-story post-608104 post type-post status-publish format-standard has-post-thumbnail hentry category-planet-finance tag-capital-markets tag-enterpriseam tag-financial-markets tag-ipo-watch tag-oil-and-gas tag-oman tag-planet-finance wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<aside>\t\t\t<div\r\n\t\t\t\t\t\t\t\tclass=\"newspack-popup-container newspack-popup hidden  newspack-inline-popup  newspack-lightbox-no-border   \"\r\n\t\t\t\trole=\"button\"\r\n\t\t\t\ttabindex=\"0\"\r\n\t\t\t\tstyle=\"background-color:#FFFFFF;color:#000\"\r\n\t\t\t\tid=\"id_408150\"\r\n\t\t\t\tdata-segments=\"\"\r\n\t\t\t\tdata-frequency=\"0,0,0,month\"\r\n\t\t\t>\r\n\t\t\t\t\n<div class=\"wp-block-group has-light-gray-background-color has-background\" style=\"padding-top:0px;padding-right:0px;padding-bottom:0px;padding-left:0px\"><div class=\"wp-block-group__inner-container is-layout-constrained wp-container-core-group-is-layout-ef38739e wp-block-group-is-layout-constrained\">\n<div class=\"wp-block-group is-content-justification-center is-nowrap is-layout-flex wp-container-core-group-is-layout-94bc23d7 wp-block-group-is-layout-flex\"><div class=\"wp-block-image\">\n<figure class=\"aligncenter size-full\"><img decoding=\"async\" src=\"https:\/\/ent.news\/internal\/408151.svg\" alt=\"\" class=\"wp-image-408151\"\/><\/figure>\n<\/div><\/div>\n<\/div><\/div>\n\t\t\t<\/div>\r\n\t\t<\/aside>\n<figure class=\"wp-block-audio mb-0\"><audio controls preload=\"metadata\" src=\"https:\/\/s3.us-east-1.amazonaws.com\/ent.news\/audio\/2023\/10\/.e1695935-5d36-4c29-9293-e8158f0a681b.mp3\"><\/audio><\/figure><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>IPO fever spreads to Oman: <\/strong>Omani state-owned energy company OQ SAOC raised USD 749 mn after taking public its gas pipeline unit OQ Gas Networks (OQGN), marking the sultanate\u2019s largest-ever listing, writes <a target=\"_blank\" href=\"https:\/\/www.bloomberg.com\/news\/articles\/2023-10-12\/oman-s-oq-gas-networks-draws-10-billion-in-orders-for-ipo?srnd=premium-middle-east#xj4y7vzkg\" style=\"\" rel=\"noopener\">Bloomberg<\/a>. OQ sold a 49% stake in OQGN after pricing its shares at the top of the indicative price.<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The details:<\/strong>The offering attracted roughly USD 10 bn in demand from investors. OQGN\u2019s order book drew anchor investors, including Belgium's Fluxys, Saudi Arabia's Public Investment Fund (PIF), and Qatar's sovereign wealth fund (QIA). Retail investors received a 10% discount on the IPO price. OQGN shares will begin trading on the Muscat stock exchange on October 24.<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Advisors:<\/strong> Bank Muscat SAOG, Bank of America, and our friends at EFG Hermes acted as the transaction coordinators, and Bank Muscat managed the issuance.<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>It\u2019s been a busy few days for bumper IPO listings in the Gulf: <\/strong>Shares of regional oil and gas giant ADES Holding leapt 30% in their first day of trading on the Saudi stock exchange on Wednesday, closing the day at SAR 17.54. The IPO of the Public Investment Fund-backed company had been heavily oversubscribed, with the institutional tranche seeing nearly 10x more demand than there were shares on offer.<\/p><p><a target=\"_blank\" id=\"t.3d178b415ef28f25c00e91159d84447e4986a143\" rel=\"noopener\"><\/a><a target=\"_blank\" id=\"t.0\" rel=\"noopener\"><\/a> <\/p><div class=\"stock-ticker-panel\">\n<table class=\"table stock-ticker-table table-striped markets-table\">\n<tbody>\n<tr class=\"tr-row-up\">\n<td class=\"td-list-up\">\n<p><svg class=\"e-icon e-TypeMarkets11\"><use xlink:href=\"#e-TypeMarkets11\"><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>EGX30 <\/strong><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">20,002<\/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\">+1.8% (YTD: +37.01%)<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-none\">\n<td class=\"td-list-none\">\n<p><svg class=\"e-icon e-TypeMarkets\"><use xlink:href=\"#e-TypeMarkets\"><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>USD (CBE)<\/strong><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">Buy 30.83<\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">Sell 30.96<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-none\">\n<td class=\"td-list-none\">\n<p><svg class=\"e-icon e-TypeMarkets\"><use xlink:href=\"#e-TypeMarkets\"><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>USD at CIB<\/strong><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">Buy 30.85<\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">Sell 30.95<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-none\">\n<td class=\"td-list-none\">\n<p><svg class=\"e-icon e-TypeMarkets\"><use xlink:href=\"#e-TypeMarkets\"><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>Interest rates CBE<\/strong><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">19.25% deposit<\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">20.25% lending<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-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>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\">10,586<\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">+0.1% (YTD: +1.0%)<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-down\">\n<td class=\"td-list-down\">\n<p><svg class=\"e-icon e-TypeMarkets1\"><use xlink:href=\"#e-TypeMarkets1\"><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>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\">9,483<\/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\">-1.1% (YTD: -7.1%)<\/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>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\">3,965<\/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\">-2.3% (YTD: +18.9%)<\/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>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\">4,328<\/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: +12.7%)<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-down\">\n<td class=\"td-list-down\">\n<p><svg class=\"e-icon e-TypeMarkets1\"><use xlink:href=\"#e-TypeMarkets1\"><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>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\">7,600<\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">-0.6% (YTD: +2.0%)<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-down\">\n<td class=\"td-list-down\">\n<p><svg class=\"e-icon e-TypeMarkets1\"><use xlink:href=\"#e-TypeMarkets1\"><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>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\">4,136<\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">-1.5% (YTD: +9.0%)<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-up\">\n<td class=\"td-list-up\">\n<p><svg class=\"e-icon e-TypeMarkets11\"><use xlink:href=\"#e-TypeMarkets11\"><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>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 90.89<\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">+5.7%<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-down\">\n<td class=\"td-list-down\">\n<p><svg class=\"e-icon e-TypeMarkets1\"><use xlink:href=\"#e-TypeMarkets1\"><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>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 3.24<\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">-3.2%<\/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>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 1,941.50<\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">+3.1%<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-down\">\n<td class=\"td-list-down\">\n<p><svg class=\"e-icon e-TypeMarkets1\"><use xlink:href=\"#e-TypeMarkets1\"><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>BTC<\/strong><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">USD 26,866<\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">-0.6% (YTD: +62.4%)<\/p>\n<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<\/div><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>THE CLOSING BELL-<\/strong><\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The EGX30 rose 1.8% at Thursday\u2019s close<\/strong> on turnover of EGP 1.97 bn (9.5% below the 90-day average). International investors were net buyers. The index is up 37.01% YTD.<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>In the green:<\/strong> Alexandria Containers and Cargo Handling (+16.0%), Orascom Construction (+8.2%) and Madinet Masr (+8.2%).<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>In the red: <\/strong>GB Corp (-2.0%), Heliopolis Housing (-1.7%) and B Investments (-1.7%).<\/p>\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/capital-markets\/\">capital markets<\/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\/ipo-watch\/\">IPO watch<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/oil-and-gas\/\">oil and gas<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/oman\/\">Oman<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/planet-finance\/\">Planet Finance<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                    <\/div>\n    <\/div>\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"608106\" 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\/15\/608106\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-608106\" class=\"content-area-description single-story post-608106 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>9-15 October (Monday - Sunday): The World Bank and IMF <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/meetings.imf.org\/en\/2023\/Annual\/Schedule\" style=\"\">annual meetings<\/a><\/span><span style=\"font-weight:400;\"> in Marrakech, Morocco. <\/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 style=\"font-weight:400;\">15 October (Sunday): House to reconvene.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span>15 October (Sunday): The Lynx Forum.<\/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): S&P Global Ratings to review Egypt\u2019s sovereign credit rating.<\/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>27 October- 2 November (Friday-Thursday): Gouna Film Festival. <\/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, 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;\">3 November (Friday): Fitch to review Egypt\u2019s sovereign credit rating.<\/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;\">14-15 November (Tuesday-Wednesday): Egypt VC Summit, Conrad 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:400;\">November: Bidding deadline for 5 gold mine concessions in the Eastern Desert (TBC).<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:700;\">DECEMBER <\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span>December: <\/span><span style=\"font-weight:400;\">Kenyan trade conference 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;\">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>4-7 December (Monday-Thursday): <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/www.egyptdefenceexpo.com\/\" style=\"\">Egypt Defence 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>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;\">Q1 2024: Opening of the new developed Pyramids Plateau in Giza.<\/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;\">2H 2024: Gov\u2019t to launch the Cairo Ring Road BRT buses.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:400;\">End of 2024: The launch of the high-speed train line linking Ain Sokhna with Al Alamein City. <\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span>November 2024: <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/www.facebook.com\/EgyptianCabinet\/posts\/pfbid0LLPJRjsu6SZLwtRHuLmCQxoAZB3xaXVXH8aYkMSEH3ae4aW6JCZaPe5h5u9nKmcRl\" style=\"\">Egypt to host<\/a><\/span><span style=\"font-weight:400;\"> the 12th session of the World Urban Forum (WUF12).<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:400;\">2Q 2025: Safaga Terminal 2 to start operations.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:700;\">2024<\/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;\">JANUARY<\/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 January (Sunday): Coptic Christmas.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span>25 January (Thursday): Revolution 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:700;\">APRIL<\/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 April (Saturday): Coptic Easter.<\/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 April (Tuesday): Eid El Fitr (TBC).<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span>25 April (Thursday): National holiday in observance of Sinai Liberation Day (TBC).<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:700;\">MAY<\/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 May (Wednesday): National holiday in observance of Labor Day (TBC).<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:400;\">6 May (Monday): Sham El Nessim (TBC).<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:700;\">JUNE<\/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;\">15-19 June (Saturday-Wednesday): Eid El Adha (TBC).<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span>30 June (Sunday): June 30 Revolution Day (TBC)..<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:700;\">JULY<\/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 July (Sunday): National holiday in observance of Islamic New Year (TBC).<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span>23 July (Tuesday): Revolution Day (TBC).<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:700;\">SEPTEMBER<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span>2-5 September (Monday-Thursday): <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/www.airport-technology.com\/sponsored\/dates-announced-for-egypt-international-airshow-2024\/\" style=\"\">Egypt International Airshow<\/a><\/span><span style=\"font-weight:400;\">, El Alamein International Airport.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span>15 September (Sunday): National holiday in observance of Prophet Muhammad\u2019s birthday (TBC).<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span 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>6 October (Sunday): Armed Forces Day.<\/span><\/p>\n\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n","protected":false},"excerpt":{"rendered":"<p>Budget deficit to widen this year | Samurai and Panda bonds this quarter | EBRD EUR 165 mn loan | Wheat price hedges incoming?<\/p>\n","protected":false},"featured_media":608081,"menu_order":0,"template":"","categories":[],"tags":[],"class_list":["post-608080","issue","type-issue","status-publish","has-post-thumbnail","hentry","wpautop","entry"],"acf":{"mongo_id":"55c2b31c-0d6d-4ad9-ac39-60007e82048e","teaser":"Budget deficit to widen this year | Samurai and Panda bonds this quarter | EBRD EUR 165 mn loan | Wheat price hedges incoming?","photo_url":"https:\/\/ent.news\/2023\/10\/719.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>Are we asking for a USD 2 bn top-up to our IMF 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