{"id":608513,"date":"2023-10-22T00:00:00","date_gmt":"2023-10-22T00:00:00","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/?post_type=issue&#038;p=608513"},"modified":"2025-12-17T01:25:39","modified_gmt":"2025-12-17T01:25:39","slug":"sp-downgrades-egypts-credit-rating-cairo-peace-summit-underlines-western-double-standard-on-gaza-war","status":"publish","type":"issue","link":"https:\/\/enterpriseam.com\/egypt\/issues\/sp-downgrades-egypts-credit-rating-cairo-peace-summit-underlines-western-double-standard-on-gaza-war\/","title":{"rendered":"S&#038;P downgrades Egypt\u2019s credit rating + Cairo peace summit underlines Western double standard on Gaza war"},"content":{"rendered":"<section id=\"608515\" 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=\"608515\">\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\/22\/egypt-israel-relations-at-boiling-point-as-tensions-over-gaza-war-escalate\/\">\r\n                            Egypt, Israel relations at \u201cboiling point\u201d as tensions over Gaza war escalate                        <\/a>\r\n                    <\/h3>\r\n\r\n                    \r\n\t\t\t\t\t\n<div class=\"cta\">\n    <div class=\"cta__btn share-dropdown-cta dropdown-toggle-btn\" style=\"position:relative\">\n        <img decoding=\"async\" src=\"https:\/\/ent.news\/internal\/408834.svg\" alt=\"\">\n        Share Story\n        <!-- Dropdown Menu -->\n        <ul class=\"share-menu\">\n            <li class=\"list-inline-item\">\n                <a 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\"\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\/.7a67e040-0730-43f9-8f9d-80ee1b14f175.mp3\"><\/audio><\/figure><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Good morning, friends. <\/strong>Before we get underway this morning, a kind reminder that we have at least one thing to look forward to this week: An extra hour of sleep. Daylight saving time comes to an end this Thursday, meaning we\u2019ll all have to turn our clocks back an hour.<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The conflict in Gaza continues to dominate the attention of everyone in Egypt, the region <\/strong><strong>and the world:<\/strong> The slight sense of optimism we got yesterday with the delivery of 20 (yes, 20) trucks of aid to Gaza has been replaced with dread as Israel says it will <strong>step up the pace of its indiscriminate bombing campaign from today.<\/strong><\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>For context:<\/strong> The Israeli military boasted one week into the war that it had <a target=\"_blank\" href=\"https:\/\/www.wsj.com\/livecoverage\/israel-hamas-war-gaza-strip\/card\/israeli-air-force-says-it-has-dropped-6-000-bombs-on-gaza-QK1aSnupiGqytMVO86PU\" style=\"\" rel=\"noopener\">dropped almost 1k<\/a><a target=\"_blank\" href=\"https:\/\/www.wsj.com\/livecoverage\/israel-hamas-war-gaza-strip\/card\/israeli-air-force-says-it-has-dropped-6-000-bombs-on-gaza-QK1aSnupiGqytMVO86PU\" style=\"\" rel=\"noopener\">bombs per day<\/a> on the tiny enclave.<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><a id=\"wwtt3\"><\/a> <strong>DIPLOMACY- An insight into the state of Egypt-Israel relations:<\/strong> Israel\u2019s push to resettle Palestinians in Egypt isn\u2019t doing wonders for bilateral relations, with the <a target=\"_blank\" href=\"https:\/\/apnews.com\/article\/israel-gaza-egypt-jordon-palestinians-hamas-997fe6fd3dcbc08f97b2168744180af1\" style=\"\" rel=\"noopener\">Associated Press<\/a> describing tensions between the two countries as \u201creaching the boiling point.\u201d <\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Egypt-Israel ties at risk:<\/strong> Former Israeli defense official Amos Gilad said that Israel is risking blowing up its relations with Egypt over the matter, and said that Prime Minister Benjamin Netanyahu needs to speak with the leaders of Egypt and Jordan and publicly disavow the idea of resettling Palestinians in either country. <\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>But the cheerleading continues in many quarters of the west for what would amount to ethnic cleansing. <\/strong>How else to describe a podcast (Planet Money\u2019s The Indicator, no less) bluntly asking how to turn our current economic challenges into a lever to force us to let Palestinians into Sinai? (<a target=\"_blank\" href=\"https:\/\/podcasts.apple.com\/ca\/podcast\/what-could-convince-egypt-to-take-in-gazas-refugees\/id1320118593?i=1000631931091\" style=\"\" rel=\"noopener\">Listen, runtime: 9:00<\/a>)<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>ENERGY SECURITY- A reminder of how the conflict is disrupting our energy sector:<\/strong>There are signs that the closure of the Tamar gas field and the suspension of the EMG gas pipeline between Israel and Egypt is now disrupting our LNG exports. A tanker waiting to load up on the liquefied fuel at the Idku LNG terminal was forced to head instead to Algeria due to the reduced production, <a target=\"_blank\" href=\"https:\/\/www.reuters.com\/business\/energy\/lng-tanker-diverts-egypt-terminal-gas-flows-israel-ebb-2023-10-19\/\" style=\"\" rel=\"noopener\">Reuters<\/a> reports, citing shipping data and analysts.<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Remember:<\/strong> Egypt\u2019s gas imports from Israel have <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/4b815416-4098-4b11-a75f-df31f6c9d58e\" style=\"\" rel=\"noopener\">fallen by around 20%<\/a> since Chevron was told to halt production at the Tamar gas field in the Mediterranean. The US company also halted gas flows through the EMG pipeline and instead began shipping gas via the Arab Gas Pipeline which runs via Jordan.<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>And at least one major energy investment is looking shaky: <\/strong>Adnoc and BP\u2019s USD 2 bn bid for Israel\u2019s NewMed Energy may be on ice thanks to the conflict, <a target=\"_blank\" href=\"https:\/\/www.bloomberg.com\/news\/articles\/2023-10-11\/bp-adnoc-s-landmark-israel-gas-bid-in-flux-as-conflict-escalates\" style=\"\" rel=\"noopener\">Bloomberg<\/a> reports.<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>THE GLOBAL ECONOMY- Geopolitics is the new boogeyman for the glo<\/strong><strong>bal financi<\/strong><strong>al <\/strong><strong>system<\/strong>, according to the US Federal Reserve, which warned on Friday that the eruption of the conflicts in Gaza and Ukraine could trigger \u201cbroad adverse spillovers to global markets.\u201d \u201cEscalation of these conflicts or a worsening in other geopolitical tensions could reduce economic activity and boost inflation worldwide, particularly in the event of prolonged disruptions to supply chains and interruptions in production,\u201d the central bank wrote in its biannual <a target=\"_blank\" href=\"https:\/\/www.federalreserve.gov\/publications\/files\/financial-stability-report-20231020.pdf\" style=\"\" rel=\"noopener\">Financial Stability Report (pdf)<\/a>.<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\">^^ <strong>Head down to the news well for the updates on the weekend\u2019s events<\/strong>, including yesterday\u2019s summit in the new capital and the delivery of food and medical aid to the besieged enclave.<\/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>Really, Cairo?<\/strong> As if we didn\u2019t have enough going on right now, yesterday we were treated to the sight of one of the city's tallest buildings, the abandoned hotel in Zamalek (aka: <a target=\"_blank\" href=\"http:\/\/www.egy.com\/zamalek\/98-04-16.php\" style=\"\" rel=\"noopener\">Zamalek\u2019s Tower of Shame<\/a>), going up in flames. Thankfully, the emergency services got to it before it got out of control but not before it blanketed nearby residents with thick plumes of smoke.<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>WATCH THIS SPACE-<\/strong><\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"> <a id=\"wwtt2\"><\/a> <strong>#1- Has TMG bought an additional stake in a portfolio of iconic, <\/strong><strong>state-owned hotels? <\/strong><a target=\"_blank\" href=\"https:\/\/bit.ly\/46U96UO\" style=\"\" rel=\"noopener\">A<\/a><a target=\"_blank\" href=\"https:\/\/bit.ly\/46U96UO\" style=\"\" rel=\"noopener\">sharq<\/a><a target=\"_blank\" href=\"https:\/\/bit.ly\/46U96UO\" style=\"\" rel=\"noopener\">Business<\/a> is out with a report saying the EGX-listed real estate and hotels giant has upped its stake in the portfolio to 51%. Icon Investments, a TMG unit, led a group of investors back in July in taking a 37% stake in a <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/1f59098e-47ac-42cc-964c-b84096549959\" style=\"\" rel=\"noopener\">USD 700 mn<\/a> transaction. The portfolio includes properties including the Cairo Marriott, Marriott Mena House, the Winter Palace, and the Cecil. We\u2019ll have more on the story tomorrow.<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><a id=\"wwtt5\"><\/a> <strong>#2- Amoun Pharma might soon no longer be Amoun Pharma: <\/strong>Abu Dhabi sovereign wealth fund ADQ is planning to merge Amoun Pharma and its other pharma companies to create what would be one of the largest companies of its kind in the region, <a target=\"_blank\" href=\"https:\/\/www.bloomberg.com\/news\/articles\/2023-10-19\/abu-dhabi-s-adq-said-to-merge-life-sciences-assets-ahead-of-ipo#xj4y7vzkg\" style=\"\" rel=\"noopener\">Bloomberg<\/a> reports, citing sources it says are in the know. The fund is planning to combine Amoun with Emirati firm Pharmax Pharma, Switzerland\u2019s Acino, and Turkey\u2019s Birgi Mefar Group into a single company within the next 12-18 months ahead of a potential IPO, the people said.<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><a id=\"wwtt1\"><\/a> <strong>#3- EGP for TRY next year?<\/strong> Egypt and Turkey will likely finalize an agreement to use local currencies for bilateral trade in 2024, according to <a target=\"_blank\" href=\"https:\/\/www.shorouknews.com\/news\/view.aspx?cdate=21102023&amp;id=f0002854-c117-4070-8145-a52d51085bd3\" style=\"\" rel=\"noopener\">Al Shorouk<\/a>, which cites a single anonymous government source. The countries\u2019 trade ministries have come to an agreement over the use of the EGP and TRY for trade and the central banks are now in discussions, which according to the source will likely wrap up next year.<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The two countries could use local currencies to settle 25-30% of bilateral trade<\/strong> following an agreement, an Egyptian government official <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/8638cd01-e135-4988-b445-df5bdec44f53\" style=\"\" rel=\"noopener\">said<\/a> earlier this month. Central bank officials began their discussions last week.<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Dedollarization:<\/strong> Egypt is looking to reduce its exposure to the greenback, and since last year has held talks with a number of countries including China, Russia and India about reducing its use in bilateral trade.<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>#4- Netflix to hike prices in Om El Donia?<\/strong> The streaming service just raised prices on some of its subscription plans for users in the US, UK and France following strong subscriber growth, according to <a target=\"_blank\" href=\"https:\/\/www.reuters.com\/technology\/netflix-raises-prices-it-adds-9-million-subscribers-2023-10-18\/\" style=\"\" rel=\"noopener\">Reuters<\/a>.<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>UPDATE-<\/strong><\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>This is what we\u2019re spending the <\/strong><strong><a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/24a3b396-64fe-4ac7-8fd7-c6da54bdcb5a\" style=\"\" rel=\"noopener\">USD 500 mn in Panda bond<\/a><\/strong><strong> proceeds on<\/strong>, <a target=\"_blank\" href=\"https:\/\/www.aiib.org\/en\/projects\/details\/2023\/approved\/Egypt-Sustainable-Transport-and-Digital-Infrastructure-Guarantee.html\" style=\"\" rel=\"noopener\">according to the Asian Infrastructure Investment Bank<\/a>, which covered more than half of the issuance:<\/p><ul>\n<li>Expanding household fiber connections<\/li>\n<li>Upgrading metro lines 1 and 2<\/li>\n<li>Upgrading tramway line 1 in Alexandria.<\/li>\n<\/ul><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>ICYMI<\/strong>- Egypt closed its maiden issuance of CNY-denominated bonds last week, selling USD 500 mn worth of three-year securities at a 3.51% yield.<\/p><hr style=\"height:2px;border-width:0;color:gray;background-color:gray\"><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>HAPPENING TODAY-<\/strong><\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The Senate is back following a two-week break:<\/strong> Committees will discuss the war in Gaza, foreign investment, post-university medical education and the cotton industry. Senators will hold a two-day debate about a report by the Senate Agriculture Committee on the chemical fertilizers industry.<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>ALSO- <\/strong><strong>Fren<\/strong><strong>ch President Emmanuel Macron will visit Cairo \u201csoon\u201d<\/strong> to talk about Israel\u2019s war on Gaza, Al Hayah Al Youm reported last night (<a target=\"_blank\" href=\"https:\/\/www.facebook.com\/watch\/?v=849908156857646\" style=\"\" rel=\"noopener\">watch, runtime: 7:22<\/a>). Macron will be the latest in a conveyor belt of world leaders to head here after speaking with President Abdel Fattah El Sisi on Thursday, according to an <a target=\"_blank\" href=\"https:\/\/bit.ly\/3FtIu1a\" style=\"\" rel=\"noopener\">Ittihadiya<\/a> statement.<\/p><div class=\"row\">\n<div class=\"col-md-12 subscribe-box-panel\">\n<div class=\"\">\n<div class=\"title\">\n<h4 class=\"fw-lighter mb-10\">\n   Get <b style=\"font-weight: 700\">Enterprise<\/b> daily<br>\n  <\/h4>\n<\/div>\n<p class=\"mb-10\">The roundup of news and trends that move your markets and shape corporate agendas delivered straight to your inbox.<\/p>\n<p>  <a target=\"_blank\" href=\"egypt\/en\/user\/NewsLetters\" type=\"button \" class=\"btn-green px-3 d-flex align-items-center\" rel=\"noopener\">Subscribe here<\/a>\n <\/p><\/div>\n<\/div>\n<\/div><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>MARKET WATCH-<\/strong><\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"> <a id=\"wwtt4\"><\/a> <strong>Global markets are beginning to take notice of what\u2019s going on in <\/strong><strong>Gaza:<\/strong> Global stocks fell, bonds rallied and gold neared USD 2k as unease over the trajectory of Israel\u2019s war on Gaza accelerated risk-off sentiment on Friday. It was a sea of red on equity gauges around the world, with US stocks falling more than 1% to suffer their worst week in a month and the VIX \u201cfear gauge\u201d jumping to its highest level in seven months.<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>What they\u2019re saying:<\/strong> \u201cThe ongoing situation in the Middle East has triggered a surge of volatility in the oil and stock markets, compelling investors to re-evaluate their strategies and shift their focus from riskier assets to \u2018safer\u2019 investments,\u201d one analyst told <a target=\"_blank\" href=\"https:\/\/www.bloomberg.com\/news\/articles\/2023-10-19\/stock-market-today-dow-s-p-live-updates\" style=\"\" rel=\"noopener\">Bloomberg<\/a>.<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Could mounting debt in developed nations cause a financial crisis? <\/strong>Large developed economies are edging closer to a financial market crisis as they juggle to battle high levels of debt, high interest rates, and increased spending which caused a surge in government borrowing costs, <a target=\"_blank\" href=\"https:\/\/www.reuters.com\/markets\/global-debt-worries-mount-is-another-crisis-brewing-2023-10-16\/\" style=\"\" rel=\"noopener\">Reuters<\/a> reported. \u201cYou can take many, many countries today, and you will see that we are not far away from a public finances crisis,\u201d former European Central Bank economist Peter Praet said. Developed economies saw their debt levels rise to a record USD 307 tn during the first half 2023, according to data from the Institute of International Finance.<\/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><a target=\"_blank\" href=\"https:\/\/www.leicestersquaretheatre.com\/show\/egyptian-trilogy-comedy-tour\/\" style=\"\" rel=\"noopener\">The Egyptian Trilogy comedy tour<\/a><\/strong><strong> is in London on Wednesday<\/strong>, 25 October. Catch Fady RIzk, Ahmed Ahmed, and Mohamed Salem at the Leicester Square Theater, brought to you by our friends at Somabay.<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong><a target=\"_blank\" href=\"https:\/\/enterprise.news\/\" style=\"\" rel=\"noopener\">Check out our full calendar on the web<\/a><\/strong> for a comprehensive listing of upcoming news events, national holidays and news triggers.<\/p>\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <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\/energy\/\">energy<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/energy-security\/\">Energy security<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/federal-reserve\/\">Federal Reserve<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/global-economy\/\">global economy<\/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\/war-watch\/\">war watch<\/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=\"608517 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=\"608517\">\r\n            \r\n            <div class=\"story__body\">\r\n\r\n                <a href=\"https:\/\/enterpriseam.com\/egypt\/2023\/10\/22\/608517\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-608517\" class=\"content-area-description single-story post-608517 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;\"><img data-recalc-dims=\"1\" decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2023\/10\/1030.jpg?ssl=1\"><\/span><\/p>\n<div class=\"grouped-tags\">\n<p><span>Get ready to embark on a sensational journey of entertainment. From October through December, London will be illuminated by the brilliance of three remarkable events sponsored exclusively by Somabay. The laughter will be unstoppable at the uproarious Egyptian Trilogy comedy tour, followed by the enchanting Samar Tarik. Brace yourselves for a captivating finale with the mesmerizing Farah El Dibany. Somabay brings you an unforgettable trifecta of events that will leave you utterly captivated and eagerly anticipating each spectacular moment.<\/span><\/p>\n<\/div>\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"608518\" 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=\"608518\">\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\/22\/sp-cuts-our-credit-rating-on-fx-crunch-debt-concerns\/\">\r\n                            S&amp;P downgrades Egypt\u2019s credit rating on FX crunch, debt concerns                        <\/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\/22\/sp-cuts-our-credit-rating-on-fx-crunch-debt-concerns\/\" 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 rating agency revised its outlook to stable from negative because of the possibility of the government delivering on structural reforms; it also left our short-term sovereign credit rating at B.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>We were warned this may be coming:<\/strong> The rating agency changed its outlook to negative in <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/1180e838-be2d-4297-ac4d-4f179c21b3c1\" style=\"\" rel=\"noopener\">April<\/a>, warning us that \u201cpolicy measures implemented by the Egyptian authorities may be insufficient to stabilize the exchange rate and attract foreign currency inflows.\u201d<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Moody\u2019s <\/strong><strong><a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/6fce3ee3-016d-412b-be92-c47ec2ae0e72\" style=\"\" rel=\"noopener\">downgraded<\/a><\/strong><strong> our credit rating to Caa1 from B3 earlier this month<\/strong>. This is one grade deeper into junk than S&P\u2019s B- rating. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Fitch is next: <\/strong>The rating agency\u2019s review is scheduled to come out on Friday, 3 November. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>FinMin reax:<\/strong> The Madbouly government is already working on implementing more structural reforms to address S&P\u2019s concerns,Finance Minister Mohamed Maait <a target=\"_blank\" href=\"https:\/\/tinyurl.com\/2p97fy2s\" style=\"\" rel=\"noopener\">said<\/a> yesterday, highlighting recent moves to eliminate tax exemptions for state companies and progress in the privatization program.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>THE RATIONALE-<\/strong><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Slow progress on reforms = less international financing: <\/strong>The IMF has <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/34d82cce-f4dd-436a-b2d7-ef783c0903de\" style=\"\" rel=\"noopener\">delayed<\/a> two reviews of our USD 3 bn assistance program after we failed to meet several conditions of the loan, including a commitment to implement a fully flexible exchange rate. S&P also warned that our Gulf allies may not be so generous going forward as they\u2019re beginning to focus more on \u201cgreater conditionality and achieving economic returns\u201d for their investments.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>And less international financing = less money to service our debts:<\/strong> \u201cWe have less confidence that additional financing will be forthcoming in a timely manner to cover all external funding gaps,\u201d S&P said. Egypt will need to marshal some <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/c4c99b98-6ac1-44ac-92fc-525f702f20e4\" style=\"\" rel=\"noopener\">USD 29.2 bn<\/a> to meet its debt-service obligations in 2024 \u2014 that\u2019s equal to almost a fifth of our total external debt and almost 85% of <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/ee135d58-c388-44e6-bbcd-5235e25e7358\" style=\"\" rel=\"noopener\">foreign reserves<\/a>.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>DECISION TIME-<\/p>\n<p><\/strong><strong>What S&P says we should do: <\/strong>The rating agency said it could backtrack on its downgrade provided \u201cEgypt reduces net government debt levels and gross external financing needs, via an acceleration of reforms that support competitiveness, growth, and fiscal outcomes.\u201d S&P added that \u201cunder such a scenario, we would expect renewed bilateral and multilateral financial support.\u201d <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>And what we shouldn\u2019t:<\/strong> S&P warned it \u201ccould lower the ratings if the authorities fail to implement the macroeconomic reforms required to reduce Egypt's economic imbalances and to unlock multilateral and bilateral funding.\u201d The rating agency added that if interest costs rise further and increase the risk of a distressed debt exchange, we could also face another downgrade.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>More from S&P:<\/strong><\/p>\n<ul>\n<li><strong>GDP:<\/strong> Economic growth will slow to 3.5% this fiscal year from an estimated 4.0% in FY 2022-23, before inching back up to 3.8% for FY 2024-25.<\/li>\n<li><strong>Budget deficit:<\/strong> The budget deficit will widen to 6.8% of GDP this year from an estimated 5.8% the year before. That\u2019s markedly more optimistic than the IMF, which <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/db693a78-d7f5-4bd1-8c9c-06ec1682f83b\" style=\"\" rel=\"noopener\">expects a 10.7% deficit<\/a> this year.<\/li>\n<li><strong>Debt: <\/strong>Debt will fall to 89.8% of GDP this year from an estimated 95.2% in FY 2022-23. The ratio is projected to further shrink to 82.3% in FY 2024-25 and 79.4% the year after.<\/li>\n<\/ul>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The global press has the story:<\/strong><a target=\"_blank\" href=\"https:\/\/www.bloomberg.com\/news\/articles\/2023-10-20\/egypt-downgraded-deeper-into-junk-by-s-p-amid-currency-squeeze#xj4y7vzkg\" style=\"\" rel=\"noopener\">Bloomberg<\/a> | <a target=\"_blank\" href=\"https:\/\/www.reuters.com\/markets\/sp-pushes-egypts-rating-deeper-into-junk-amid-funding-pressures-2023-10-20\/\" style=\"\" rel=\"noopener\">Reuters<\/a>.<\/p>\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/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                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/sp-global-ratings\/\">S&amp;P Global Ratings<\/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=\"608520\" 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=\"608520\">\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\">WAR WATCH<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2023\/10\/22\/arab-leaders-condemn-gaza-assault-western-response-at-cairo-summit\/\">\r\n                            Arab leaders condemn Gaza assault, Western response at Cairo summit                        <\/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\/22\/arab-leaders-condemn-gaza-assault-western-response-at-cairo-summit\/\" 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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Egypt organized the gathering as part of a drive to get an agreement on a ceasefire and a lasting solution to the Palestinian issue.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>No joint statement: <\/strong>The summit ended without a joint statement due to disagreements over condemning Hamas. A diplomatic source told <a target=\"_blank\" href=\"https:\/\/www.timesofisrael.com\/liveblog_entry\/cairo-summit-participants-fail-to-agree-on-statement-condemning-hamas\/\" style=\"\" rel=\"noopener\">AFP<\/a> that Arab leaders refused Western demands for \u201ca clear condemnation placing responsibility for the escalation on Hamas,\u201d leaving Egypt to release <a target=\"_blank\" href=\"https:\/\/bit.ly\/3FqH4ob\" style=\"\" rel=\"noopener\">a<\/a><a target=\"_blank\" href=\"https:\/\/bit.ly\/3FqH4ob\" style=\"\" rel=\"noopener\">statemen<\/a><a target=\"_blank\" href=\"https:\/\/bit.ly\/3FqH4ob\" style=\"\" rel=\"noopener\">t<\/a> on its own.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Western response \u201cincomprehensible\u201d:<\/strong> Egypt\u2019s statement, reportedly approved by other Arab nations, called Western leaders\u2019 failure to condemn Israel\u2019s indiscriminate bombing campaign \u201cincomprehensible\u201d and accused them of selectively applying international law. \u201cWe even see attempts to justify this killing, as if the life of the Palestinian human being is less important than that of other people,\u201d the statement read. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Who attended: <\/strong>Most of our allies in the region, with the leaders of the Palestinian Authority, UAE, Jordan, Qatar, Libya, Kuwait Iraq, and Bahrain all in attendance, as well as Saudi Foreign Minister Prince Faisal bin Farhan. South African President Cyril Ramaphosa as well as senior diplomats from China and Russia were present, as well as major European nations who mostly sent their foreign ministers, with the exception of Spain and Italy, whose prime ministers were in attendance. Representing the UN was Secretary-General Antonio Guterres and the EU, Charles Michel.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Who didn\u2019t: <\/strong>The US declined to send senior officials to the gathering while Hamas and Israel were not present.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Egypt is \u201cvehemently\u201d opposed to Palestinian displacement, El Sisi says:<\/strong> \u201cEgypt is reiterating its vehement rejection of the forced displacement of the Palestinians and their transfer to Egyptian lands in Sinai, as this will mark the last gasp in the liquidation of the Palestinian cause,\u201d President Abdel Fattah El Sisi said in his <a target=\"_blank\" href=\"https:\/\/bit.ly\/3FqH4ob\" style=\"\" rel=\"noopener\">opening statement<\/a>. \u201cTwo-and-a-half mn Palestinians in the Gaza Strip are being subjected to collective punishment. They are living under siege and facing starvation and ferocious pressure of forced displacement.\u201d<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Strong words:<\/strong>In their speeches, Arab officials criticized in harsh terms Israel and the West\u2019s behavior in the conflict:<\/p>\n<ul>\n<li><strong>Jordan\u2019s King Abdullah said that Israeli <\/strong><strong>forces were committing a \u201cwar crime\u201d<\/strong> in their bombing of Gaza and said the world\u2019s response shows that international law is optional. Abdullah <a target=\"_blank\" href=\"https:\/\/bit.ly\/3tIfYX6\" style=\"\" rel=\"noopener\">said<\/a> that Palestinian displacement is a \u201cred line for all of us.\u201d<\/li>\n<li><strong>Saudi FM calls out double standards:<\/strong> \u201cWe reject the double standards and selectivity practiced by some in the international community,\u201d <a target=\"_blank\" href=\"https:\/\/twitter.com\/KSAmofaEN\/status\/1715847061432643680\" style=\"\" rel=\"noopener\">said<\/a> Saudi Foreign Minister Prince Faisal bin Farhan. \u201cWe call on the international community to pressure the Israeli side to lift the siege and stop the military operations.\u201d He also expressed \u201ccategorical rejection\u201d of attempts to displace the population.<\/li>\n<li><strong>UAE calls for immediate ceasefire:<\/strong> The UAE \u201cstands unwavering in its calls for the utmost protection of civilian lives, unimpeded access for humanitarian aid, and an immediate end to hostilities in the Gaza Strip,\u201d <a target=\"_blank\" href=\"https:\/\/www.mofa.gov.ae\/en\/mediahub\/news\/2023\/10\/21\/21-10-2023-uae-cairo\" style=\"\" rel=\"noopener\">said<\/a> UAE President Sheikh Mohamed bin Zayed.<\/li>\n<li><strong>Israel committing genocide -Iraqi PM:<\/strong> \u201cThe Palestinian people are facing genocide and a grave humanitarian crisis\u201d due to the ongoing conflict, <a target=\"_blank\" href=\"https:\/\/bit.ly\/46YLs9F\" style=\"\" rel=\"noopener\">said<\/a> Iraqi Prime Minister Mohamed Shia Al Sudani. He called for an immediate ceasefire and for international law to be upheld.<\/li>\n<li><strong>Gazans subject to collective punishment -Guterres:<\/strong>Hamas\u2019 attack on Israel \u201ccan never justify the collective punishment of the Palestinian people,\u201d <a target=\"_blank\" href=\"https:\/\/www.un.org\/sg\/en\/content\/sg\/statement\/2023-10-21\/secretary-generals-remarks-cairo-summit-for-peace\" style=\"\" rel=\"noopener\">said<\/a> UN Secretary-General Antonio Guterres, calling for an immediate end to the conflict.<\/li>\n<\/ul>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>WEEKEND PROTESTS-<\/strong><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Protests at home:<\/strong> Tens of thousands of Egyptians took to the streets after Friday prayers to condemn Israel\u2019s war on Gaza. Demonstrations took place at <a target=\"_blank\" href=\"https:\/\/english.ahram.org.eg\/NewsContent\/1\/1234\/510643\/Egypt\/Foreign-Affairs\/Thousands-of-Egyptians-join-rallies-nationwide-in-.aspx\" style=\"\" rel=\"noopener\">27 state-approved locations<\/a> around the country as well as downtown Cairo (<a target=\"_blank\" href=\"https:\/\/www.youtube.com\/watch?v=GRbNKmQtJL8\" style=\"\" rel=\"noopener\">watch, runtime: 1:12<\/a>) and Al Azhar (<a target=\"_blank\" href=\"https:\/\/www.youtube.com\/watch?v=dnVhUuhJZGw\" style=\"\" rel=\"noopener\">watch, runtime: 1:47<\/a>). The National Dialogue and pro-government party Mostaqbal Watan had called on Egyptians to protest the potential displacement of Palestinians into the Sinai, a day after <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/57fa7d86-6ffc-489b-bfed-08c91612f644\" style=\"\" rel=\"noopener\">El Sisi said<\/a> that Egyptians will \u201cgo out and protest in their mns \u2026 if called upon to do so.\u201d<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>And abroad:<\/strong> Hundreds of thousands of demonstrators protested the war across the Muslim world on Friday. Large rallies took place from Turkey and Tunisia to Indonesia and Malaysia, while thousands of Iraqis <a target=\"_blank\" href=\"https:\/\/www.reuters.com\/world\/middle-east\/iraqis-stage-sit-in-iraq-jordan-border-calling-end-gaza-blockade-2023-10-20\/\" style=\"\" rel=\"noopener\">staged a sit-in<\/a> at the border with Jordan. Demonstrations also took place in the West, including in London, where <a target=\"_blank\" href=\"https:\/\/www.theguardian.com\/world\/2023\/oct\/21\/about-100000-turn-out-in-london-for-pro-palestine-rally\" style=\"\" rel=\"noopener\">100k people<\/a> took part in a rally, and <a target=\"_blank\" href=\"https:\/\/www.latimes.com\/california\/story\/2023-10-21\/pro-palestinian-supporters-hold-rally-and-march-in-downtown-los-angeles\" style=\"\" rel=\"noopener\">Los Angeles<\/a>. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>AID DELIVERED + SOME HOSTAGES FREED-<\/strong><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Limited aid has arrived in Gaza, much more is needed: <\/strong>Twenty trucks carrying vital supplies of aid crossed the border at Rafah on Saturday, the first to do so since the conflict in Gaza broke out two weeks ago, state TV showed yesterday (<a target=\"_blank\" href=\"https:\/\/www.youtube.com\/watch?v=D20SkRri8Ww\" style=\"\" rel=\"noopener\">watch, runtime: 7:48<\/a>). <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Remember: <\/strong>Israel has imposed a total siege on the enclave, triggering a shortage of water and food and leaving hospitals on the verge of collapse. The government last week agreed to allow a small number of trucks to enter <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/57fa7d86-6ffc-489b-bfed-08c91612f644\" style=\"\" rel=\"noopener\">following talks<\/a> with US President Joe Biden but is continuing to impose a blockade on fuel, which is vital for keeping hospitals operational.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>A drop in the ocean:<\/strong> The Palestinian Red Crescent welcomed the delivery but said the \u201cminiscule\u201d amount is just a \u201cdrop in the ocean\u201d of what is needed to prevent a humanitarian catastrophe. \u201cFurthermore, without fuel entering the Gaza Strip to support generating electricity, thousands of Palestinian lives are at risk of death in hospitals,\u201d it said in <a target=\"_blank\" href=\"https:\/\/twitter.com\/PalestineRCS\/status\/1715721797943910555\/photo\/1\" style=\"\" rel=\"noopener\">a statement on X<\/a>. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>More could enter today:<\/strong>More aid trucks could cross Egypt\u2019s Rafah border into Gaza today, UN humanitarian chief Martin Griffiths said yesterday, according to <a target=\"_blank\" href=\"https:\/\/www.reuters.com\/world\/middle-east\/un-aid-chief-says-second-aid-convoy-gaza-could-lead-sustained-relief-2023-10-21\/\" 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>Two hostages released:<\/strong> Hamas on Friday released two American hostages for what it said were \u201chumanitarian reasons\u201d following Qatari mediation, according to <a target=\"_blank\" href=\"https:\/\/www.cnbc.com\/2023\/10\/20\/hamas-says-it-releases-two-us-hostages-for-humanitarian-reasons-after-qatari-efforts.html\" style=\"\" rel=\"noopener\">Reuters<\/a>. The hostages, a mother and daughter from Chicago, are the first of the 200+ hostages taken by the armed group two weeks ago to be released.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>GEARING UP FOR INVASION-<\/strong><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Israel to increase bombing intensity ahead of ground invasion:<\/strong> \u201cWe will deepen our attacks to minimize the dangers to our forces in the next stages of the war. We are going to increase the attacks from [Sunday],\u201d an IDF official told reporters last night, according to <a target=\"_blank\" href=\"https:\/\/time.com\/6326885\/israel-gaza-strikes-increase-plans\/\" style=\"\" rel=\"noopener\">the Associated Press<\/a>.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>A three-phase conflict:<\/strong> Israeli Defense Minister Yoav Gallant <a target=\"_blank\" href=\"https:\/\/www.timesofisrael.com\/gallant-says-after-hamas-vanquished-israel-will-seek-new-security-regime-in-gaza\/\" style=\"\" rel=\"noopener\">said on Friday<\/a> the military is aiming to remove Hamas from Gaza in three phases, starting with an air and ground offensive followed by a period of low-intensity combat. \u201cThe third step will be the creation of a new security regime in the Gaza Strip, the removal of Israel\u2019s responsibility for day-to-day life in the Gaza Strip,\u201d he told reporters.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>\u201cNew security reality\u201d?<\/strong> It\u2019s not clear what the IDF\u2019s post-war plans are in the event that it defeats Hamas. The country\u2019s foreign minister last week became the latest government official to suggest it will <a target=\"_blank\" href=\"https:\/\/www.timesofisrael.com\/liveblog_entry\/foreign-minister-at-wars-end-not-only-will-hamas-be-gone-but-gazas-territory-will-shrink\/\" style=\"\" rel=\"noopener\">annex part of the territory<\/a>. Another minister has said it could <a target=\"_blank\" href=\"https:\/\/www.ft.com\/content\/2139346d-1605-4a6f-bb58-340045c3cf44\" style=\"\" rel=\"noopener\">create a large demilitarized zone<\/a>. Meanwhile, <a target=\"_blank\" href=\"https:\/\/www.bloomberg.com\/news\/articles\/2023-10-21\/us-and-israel-weigh-a-future-for-the-gaza-strip-without-hamas\" style=\"\" rel=\"noopener\">Bloomberg<\/a> reported yesterday that US and Israeli officials are discussing setting up a UN-sponsored interim government in coordination with some Arab states.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>DIPLOMACY-<\/strong><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Egypt won\u2019t be a party to ethnic cleansing: <\/strong>El Sisi told UK PM Rishi Sunak on Friday that there is no way Egypt will allow Palestinians to be displaced into Sinai (<a target=\"_blank\" href=\"https:\/\/www.facebook.com\/watch\/?v=341135211792672\" style=\"\" rel=\"noopener\">watch, runtime: 4:46<\/a>). UK Foreign Secretary <a target=\"_blank\" href=\"https:\/\/bit.ly\/3tG2xqP\" style=\"\" rel=\"noopener\">James Cleverly<\/a> was in town the day prior <a target=\"_blank\" href=\"https:\/\/bit.ly\/3tG2xqP\" style=\"\" rel=\"noopener\">for talks with Shoukry<\/a>. Turkey is taking our side, with President Recep Tayyip Erdogan telling El Sisi on Friday that Ankara doesn\u2019t want to see Gazans resettled in Egypt (<a target=\"_blank\" href=\"https:\/\/bit.ly\/3tE7Zu9\" style=\"\" rel=\"noopener\">Ittihadiya<\/a> | <a target=\"_blank\" href=\"https:\/\/twitter.com\/trpresidency\/status\/1715412340420571246\" style=\"\" rel=\"noopener\">Turkish president\u2019s office<\/a>). <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Israel is withdrawing from the region:<\/strong> The country withdrew its ambassador and diplomatic staff from Turkey yesterday, a few days after it did the same with its diplomatic representation in Egypt, Jordan, Bahrain and Morocco. The government also <a target=\"_blank\" href=\"https:\/\/www.timesofisrael.com\/israel-tells-citizens-to-leave-egypt-and-jordan-as-soon-as-possible-avoid-morocco\/\" style=\"\" rel=\"noopener\">told its citizens to leave Egypt<\/a> and Jordan as soon as possible, and to avoid travel to Morocco.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>ALSO- <\/strong>China has <a target=\"_blank\" href=\"https:\/\/www.fmprc.gov.cn\/mfa_eng\/zxxx_662805\/202310\/t20231019_11164182.html\" style=\"\" rel=\"noopener\">called<\/a> for a ceasefire and Iran wants an oil embargo on Israel (<a target=\"_blank\" href=\"https:\/\/en.irna.ir\/news\/85263151\/Iran-urges-Islamic-countries-to-impose-oil-embargo-on-Israel\" style=\"\" rel=\"noopener\">IRNA<\/a> | <a target=\"_blank\" href=\"https:\/\/www.reuters.com\/world\/middle-east\/iran-calls-islamic-countries-sanction-israel-2023-10-18\/\" 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>ECONOMIC FALLOUT FOR ISRAEL?<\/strong><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Fitch Ratings has put Israel\u2019s credit rating on notice for a downgrade<\/strong> and currency speculators are heaping pressure on the ILS as the impact of the war triggers concerns about the economy. (<a target=\"_blank\" href=\"https:\/\/www.fitchratings.com\/research\/sovereigns\/fitch-places-israel-a-idrs-on-rating-watch-negative-17-10-2023\" style=\"\" rel=\"noopener\">Fitch Ratings<\/a> | <a target=\"_blank\" href=\"https:\/\/www.ft.com\/content\/dfbcb4d3-bbf9-42f1-9303-f92b01536855\" style=\"\" rel=\"noopener\">Financial Times<\/a>)<\/p>\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/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\/antonio-guterres\/\">Antonio Guterres<\/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\/iraq\/\">Iraq<\/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\/jordan\/\">Jordan<\/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\/saudi-arabia\/\">Saudi Arabia<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/uae\/\">UAE<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/un\/\">UN<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                    <\/div>\n    <\/div>\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"608522\" 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=\"608522\">\r\n            \r\n                <div class=\"issue-story-header text-center\">\r\n                    <div class=\"index-number\">4<\/div>\r\n\r\n                    <p class=\"f-graphik\">DEBT WATCH<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2023\/10\/22\/egypt-inks-debt-swap-pact-with-china\/\">\r\n                            Egypt inks debt swap pact with China                        <\/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\/22\/egypt-inks-debt-swap-pact-with-china\/\" 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 statement didn\u2019t disclose any specifics, including the value of the agreement. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>About 5% of our total external debt is owed to the Chinese:<\/strong> Egypt owed USD 8.2 bn to China as of the end of March, according to <a target=\"_blank\" href=\"https:\/\/ent.news\/2023\/10\/1038.pdf\" style=\"\" rel=\"noopener\">central bank figures (pdf)<\/a>. This includes USD 5.3 bn in long-term debt and a USD 2.6 bn currency swap agreement with the Chinese central bank. The country\u2019s total debt was <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/450c2cb7-4819-4598-a61f-cb17259fbe7b\" style=\"\" rel=\"noopener\">USD 165.4 bn<\/a> as of 1Q 2023.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>We already have two debt swap programs in <\/strong><strong>progress<\/strong><strong> worth about USD 730 mn<\/strong><strong>:<\/strong> a <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/39b93fe3-406a-43b5-9839-c0c3f2eb8732\" style=\"\" rel=\"noopener\">EUR 240 mn program with Germany<\/a> \u2014 USD 116 mn of which went towards the energy pillar of the government\u2019s Nexus for Water, Food and Energy (NWFE) program \u2014 and an <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/443e7ee0-50c6-444e-8ae4-6c25e98a3a98\" style=\"\" rel=\"noopener\">agreement with Italy<\/a>. The two programs have been used to fund 120 local development projects, said <a target=\"_blank\" href=\"https:\/\/bit.ly\/3tE4e81\" style=\"\" rel=\"noopener\">a separate ministry<\/a><a target=\"_blank\" href=\"https:\/\/bit.ly\/3tE4e81\" style=\"\" rel=\"noopener\">stateme<\/a><a target=\"_blank\" href=\"https:\/\/bit.ly\/3tE4e81\" style=\"\" rel=\"noopener\">nt<\/a>.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>CHINA LIKES EGYPT-<\/strong><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>China wants to expand in Egypt, Xi tells Madbouly: <\/strong>China is looking to increase its economic footprint in Egypt, namely in the infrastructure, energy,aviation, tourism, renewables, and healthcare sectors, Chinese President Xi Jinping said <a target=\"_blank\" href=\"https:\/\/bit.ly\/3Fpj9p4\" style=\"\" rel=\"noopener\">during<\/a><a target=\"_blank\" href=\"https:\/\/bit.ly\/3Fpj9p4\" style=\"\" rel=\"noopener\">his meeting<\/a> with Prime Minister Moustafa Madbouly on the sidelines of the forum. The two sides also discussed expanding the TEDA zone and attracting more Chinese investments to Egypt in green hydrogen and EV production.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>More CNY in Egypt:<\/strong>The debt swap \u201cwill encourage Chinese investments in Egypt in local currency,\u201d <a target=\"_blank\" href=\"https:\/\/bit.ly\/45FMNB9\" style=\"\" rel=\"noopener\">cabinet<\/a> quoted Madbouly as saying during a meeting with CIDCA head Luo Zhaohui. Egyptian and Chinese authorities have recently <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/c8341f69-c9f5-4504-8470-e5d109f40c83\" style=\"\" rel=\"noopener\">entered talks<\/a> to allow Chinese companies to use CNY to invest in local projects, rather than the USD.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>LRT funding confirmed:<\/strong>Luo announced that CIDCA will provide soft financing for the third and fourth phases of the electric light rail train, cabinet said, without detailing the value or tenor of any loans. Local media <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/1c7dbdd7-cde8-458a-9e07-5d9bc8fca38a\" style=\"\" rel=\"noopener\">reported earlier this month<\/a> that China Eximbank will lend Egypt <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/1c7dbdd7-cde8-458a-9e07-5d9bc8fca38a\" style=\"\" rel=\"noopener\">USD 400<\/a> m <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/1c7dbdd7-cde8-458a-9e07-5d9bc8fca38a\" style=\"\" rel=\"noopener\">n<\/a> for the third phase of the project.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>ICYMI- <\/strong>Chinese and Egyptian companies <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/4c54bfd4-d4fc-43ff-8bed-bbaf36445938\" style=\"\" rel=\"noopener\">signed a raft of agreements<\/a> last week on the sidelines of the Belt and Road Forum that could see up to USD 15.5 bn invested in energy and manufacturing projects in Egypt.<\/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\/china\/\">China<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/debt-watch\/\">debt watch<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/development-finance\/\">development finance<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/egypt-china-relations\/\">Egypt-China relations<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/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=\"608524\" 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=\"608524\">\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\">DEBT WATCH<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2023\/10\/22\/new-sustainable-bond-regulations-are-in-the-works\/\">\r\n                            New sustainable bond regulations are in the works                        <\/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\/22\/new-sustainable-bond-regulations-are-in-the-works\/\" 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\/22\/new-sustainable-bond-regulations-are-in-the-works\/')\">\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\/22\/new-sustainable-bond-regulations-are-in-the-works\/\">\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=New sustainable bond regulations are in the works&url=https:\/\/enterpriseam.com\/egypt\/2023\/10\/22\/new-sustainable-bond-regulations-are-in-the-works\/\">\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\/22\/new-sustainable-bond-regulations-are-in-the-works\/&title=New sustainable bond regulations are in the works\">\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=New+sustainable+bond+regulations+are+in+the+works+https%3A%2F%2Fenterpriseam.com%2Fegypt%2F2023%2F10%2F22%2Fnew-sustainable-bond-regulations-are-in-the-works%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\/22\/new-sustainable-bond-regulations-are-in-the-works\/\">\r\n                    <div class=\"photo photo--above\">\r\n                        <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2023\/10\/1043.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"608525\" data-permalink=\"https:\/\/enterpriseam.com\/egypt\/2023\/10\/22\/new-sustainable-bond-regulations-are-in-the-works\/1043-jpg-3\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2023\/10\/1043.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"1043.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2023\/10\/1043.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2023\/10\/1043.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-608524\" class=\"content-area-description single-story post-608524 post type-post status-publish format-standard has-post-thumbnail hentry category-debt-watch tag-capital-markets tag-debt-watch tag-electricity-ministry tag-enterpriseam tag-finance-ministry tag-green-bonds tag-oecd tag-renewable-energy tag-renewables 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\/.7a67e040-0730-43f9-8f9d-80ee1b14f175.mp3\"><\/audio><\/figure>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"> <strong>A new framework is in the works for sustainable bonds: <\/strong>We\u2019re working with the OECD to work out a framework for issuing green, blue, infrastructure, and other sustainable bonds on behalf of government entities, a government official told Enterprise. The new regulations that will allow government entities to sell bonds tied to sustainability projects should be out in time for a green bond issuance set to happen next year, our source told us. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>More green bonds to come in 2024:<\/strong> The government is reportedly mulling over issuing green bonds worth USD 700 mn next year, <a target=\"_blank\" href=\"https:\/\/www.alborsaanews.com\/2023\/10\/19\/1724938\" style=\"\" rel=\"noopener\">Al Borsa<\/a> reports, citing sources it says have knowledge of the matter. The issuance, which is still under study, will be carried out by an Electricity Ministry-affiliated body and the proceeds will be used to fund an unnamed green project, either by the private sector or through a public-private partnership (PPP), according to the local outlet.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Who\u2019s involved? <\/strong>The International Finance Corporation will act as an advisor to the offering and may also subscribe to the issuance itself, Al Borsa reported. It was reported that the Organisation for Economic Co-operation and Development (OECD) will support the issuance, but the exact details of how the issuance will be guaranteed were not laid out. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>This wouldn\u2019t be our first green bond sale: <\/strong>We closed our second green bond issuance earlier this month with a CNY 3.5 bn (USD 478.7 mn) trove of <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/24a3b396-64fe-4ac7-8fd7-c6da54bdcb5a\" style=\"\" rel=\"noopener\">Panda bonds<\/a>. In 2020, our maiden green bond issuance brought in <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/5d1b54d5-5efa-41c9-ac8b-728b105b2ef0\" style=\"\" rel=\"noopener\">USD 750 mn<\/a> and was almost 5x oversubscribed, attracting some USD 3.7 bn worth of orders for the bonds, pointing to growing appetites for climate-friendly securities worldwide. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>I<\/strong><strong> see your USD 700 mn, and raise you USD 5 bn: <\/strong>The Madbouly government is planning to bring in USD 3-5 bn from sovereign green issuances over the next five years, a government official told us.<\/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\/debt-watch\/\">debt watch<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/electricity-ministry\/\">Electricity Ministry<\/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\/green-bonds\/\">green bonds<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/oecd\/\">OECD<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/renewable-energy\/\">renewable energy<\/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=\"608526\" 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=\"608526\">\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\">Telecoms<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2023\/10\/22\/is-5g-on-its-way\/\">\r\n                            5G mobile network could soon make its debut in Egypt                        <\/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\/22\/is-5g-on-its-way\/\" 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\/22\/is-5g-on-its-way\/')\">\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\/22\/is-5g-on-its-way\/\">\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=Is 5G on its way?&url=https:\/\/enterpriseam.com\/egypt\/2023\/10\/22\/is-5g-on-its-way\/\">\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\/22\/is-5g-on-its-way\/&title=Is 5G on its way?\">\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=Is+5G+on+its+way%3F+https%3A%2F%2Fenterpriseam.com%2Fegypt%2F2023%2F10%2F22%2Fis-5g-on-its-way%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\/22\/is-5g-on-its-way\/\">\r\n                    <div class=\"photo photo--above\">\r\n                        <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2020\/10\/2036.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"608527\" data-permalink=\"https:\/\/enterpriseam.com\/egypt\/2023\/10\/22\/is-5g-on-its-way\/2036-jpg-3\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2020\/10\/2036.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"2036.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2020\/10\/2036.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2020\/10\/2036.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-608526\" class=\"content-area-description single-story post-608526 post type-post status-publish format-standard has-post-thumbnail hentry category-telecoms tag-5g tag-enterpriseam tag-national-telecom-regulatory-authority tag-telecoms 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\/.7a67e040-0730-43f9-8f9d-80ee1b14f175.mp3\"><\/audio><\/figure>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"> <strong>5G licenses could soon be up for grabs: <\/strong>The National Telecommunications Regulatory Authority (NTRA) is planning to issue a tender for Egypt\u2019s first licenses to provide 5G services as early as December, <a target=\"_blank\" href=\"https:\/\/bit.ly\/46Xtc0C\" style=\"\" rel=\"noopener\">A<\/a><a target=\"_blank\" href=\"https:\/\/bit.ly\/46Xtc0C\" style=\"\" rel=\"noopener\">sharq Busines<\/a><a target=\"_blank\" href=\"https:\/\/bit.ly\/46Xtc0C\" style=\"\" rel=\"noopener\">s<\/a> wrote on Thursday, citing sources it says are in the know. The regional outlet reported that the 5G licenses will begin at USD 500 mn, but a source at one of the mobile network operators, who confirmed the when we spoke, told us that the value of the license had not yet been agreed on by the authorities.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>A nice source of FX if there is appetite: <\/strong>Telecom license fees have traditionally been paid for in FX. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The industry expects the license tenders to be unveiled in December <\/strong>\u2014 or early next year at the latest, our source told us. There\u2019s enough spectrum on offer for all four incumbents \u2014 Orange, Vodafone, Etisalat, and Telecom Egypt\u2019s We \u2014 to bid. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>What is 5G?<\/strong> Really, really fast internet \u2014 and <a target=\"_blank\" href=\"https:\/\/www.qualcomm.com\/5g\/what-is-5g\" style=\"\" rel=\"noopener\">the successor to the 4G standard<\/a> we use now in Egypt. In theory, it can deliver speeds <a target=\"_blank\" href=\"https:\/\/www.thalesgroup.com\/en\/worldwide-digital-identity-and-security\/mobile\/magazine\/5g-vs-4g-whats-difference\" style=\"\" rel=\"noopener\">up to 100x faster<\/a> than 4G with ultra-low latency that could allow everything from remote surgeries to super-fast downloads and a \u201ctrue\u201d internet of things. It\u2019s slowly rolling out in developed markets, and when it works (and it\u2019s not chewing up your battery), it\u2019s amazing. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Do we have the capacity for it? <\/strong>Egypt has the infrastructure to introduce 5G, but its accessibilityand efficiency will largely depend on how much telecom providers are willing to pay and how they will price the service to customers, former Communications Minister Khaled Negm told Enterprise.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Egypt is a whole generation behind: <\/strong>Egypt has only tapped 10% of the 4G services available,Negm said, adding that the government needs to invest in expanding these services, increasing their effectiveness, and increasing its governance of the activities carried out using these services. <\/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\/5g\/\">5G<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/national-telecom-regulatory-authority\/\">National Telecom Regulatory Authority<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/telecoms\/\">TELECOMS<\/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=\"608528 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=\"608528\">\r\n            \r\n            <div class=\"story__body\">\r\n\r\n                <a href=\"https:\/\/enterpriseam.com\/egypt\/2023\/10\/22\/608528\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-608528\" class=\"content-area-description single-story post-608528 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\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=\"608529\" 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=\"608529\">\r\n            \r\n                <div class=\"issue-story-header text-center\">\r\n                    <div class=\"index-number\">7<\/div>\r\n\r\n                    <p class=\"f-graphik\">LAST NIGHT\u2019S TALK SHOWS<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2023\/10\/22\/last-nights-talk-shows-on-the-conflict-in-gaza-2\/\">\r\n                            The conflict in Gaza heads into its third week                        <\/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\/22\/last-nights-talk-shows-on-the-conflict-in-gaza-2\/\" target=\"_blank\">\n                    Open in new tab                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/new-tab.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a href=\"#\" target=\"_blank\" onclick=\"event.preventDefault(); 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Al Habbash appeared on several other programs through the night including Masaa DMC (<a target=\"_blank\" href=\"https:\/\/www.facebook.com\/watch\/?v=990856348857697\" style=\"\" rel=\"noopener\">watch, runtime: 4:28<\/a>) and Al Hayah Al Youm (<a target=\"_blank\" href=\"https:\/\/www.facebook.com\/watch\/?v=639291561743323\" style=\"\" rel=\"noopener\">watch, runtime: 10:07<\/a>). <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>But why no final statement? <\/strong>\u201cA number of countries insist on condemning one party with the utmost force and not condemning the other party. \u2026 Some believe that there is now no room to talk about a ceasefire,\u201d Egyptian presidential spokesperson Ahmed Fahmy told Sky News Arabia (<a target=\"_blank\" href=\"https:\/\/www.facebook.com\/SkyNewsArabia\/videos\/1367794824160243?locale=ar_AR\" style=\"\" rel=\"noopener\">watch, runtime: 1:04<\/a>). Fahmy also discussed the summit on Ala Masouleety (watch, runtime: <a target=\"_blank\" href=\"https:\/\/www.facebook.com\/watch\/?v=202578079525187\" style=\"\" rel=\"noopener\">2:03<\/a> | <a target=\"_blank\" href=\"https:\/\/www.facebook.com\/watch\/?v=578315857730446\" style=\"\" rel=\"noopener\">9:07<\/a>). Lamees El Hadidi also touched on the subject during Kelma Akhira (<a target=\"_blank\" href=\"https:\/\/www.youtube.com\/watch?v=2Z5GI-byfL8&ab_channel=%D9%83%D9%84%D9%85%D8%A9%D8%A3%D8%AE%D9%8A%D8%B1%D8%A9%D9%85%D8%B9%D9%84%D9%85%D9%8A%D8%B3%D8%A7%D9%84%D8%AD%D8%AF%D9%8A%D8%AF%D9%8A\" style=\"\" rel=\"noopener\">watch, runtime: 8:34<\/a>).<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>T<\/strong><strong>he president of the European Council <\/strong><strong>got caught in El Hadidi\u2019s crosshairs:<\/strong> The queen of late-night talk demanded that president of the European Council Charles Michel respond to accusations of double standards in dealing with the war in Gaza. \u201cWe have a clear position,\u201d Michel responded, adding that \u201cwe condemned the terrorist attack carried out by Hamas against the Israeli people. Israel has a right to defend itself but in accordance with and within the limits of international humanitarian law. We reach out to the American administration to urge Israel to respect the rules of International law.\u201d (Watch, runtime: <a target=\"_blank\" href=\"https:\/\/www.facebook.com\/watch\/?v=574772418120478\" style=\"\" rel=\"noopener\">2:19<\/a> | <a target=\"_blank\" href=\"https:\/\/www.facebook.com\/watch\/?v=699978992041304\" style=\"\" rel=\"noopener\">2:02<\/a> | <a target=\"_blank\" href=\"https:\/\/www.facebook.com\/watch\/?v=345748547940739\" style=\"\" rel=\"noopener\">4:23<\/a>).<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>\u201cFamine will begin in Gaza\u201d if more aid does not pour in<\/strong>, UN World Food Program spokesperson Abeer Atifa told Kelma Akhira, adding that \u201cwhat has so far entered the Gaza Strip is a drop in the bucket of what the population needs\u201d (<a target=\"_blank\" href=\"https:\/\/www.facebook.com\/watch\/?v=1079464012989171\" style=\"\" rel=\"noopener\">watch, runtime: 6:45<\/a>). UNICEF Egypt\u2019s Jeremy Hopkins told El Hekaya that the UN \u201cis trying to provide safe passage for food and aid to reach the Gaza Strip\u201d (<a target=\"_blank\" href=\"https:\/\/www.facebook.com\/watch\/?v=829203769209820\" style=\"\" rel=\"noopener\">watch, runtime: 7:45<\/a>). The WHO\u2019s regional director said that Gaza is heading towards a catastrophic situation that may be difficult to control (<a target=\"_blank\" href=\"https:\/\/www.facebook.com\/watch\/?v=873844300756400\" style=\"\" rel=\"noopener\">watch, runtime: 9:22<\/a>).<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Rumors of Qatar\u2019s early exit denied: <\/strong>\u201cThe Qatari Emir participated in the Cairo Peace Summit and left, normally,\u201dthe Egyptian presidential spokesperson said on Ala Masouleety, denying rumors of fraught disagreements and tensions (<a target=\"_blank\" href=\"https:\/\/www.youtube.com\/watch?v=c_GmwDQPEX0&ab_channel=%D8%B5%D8%AF%D9%89%D8%A7%D9%84%D8%A8%D9%84%D8%AF\" style=\"\" rel=\"noopener\">watch, runtime: 3:10<\/a>). Amr Adib noted that a video circulating of Sheikh Tamim bin Hamad Al Thani exiting the summit prior to the Secretary-General of the League of Arab\u2019s speech was from 2019 (<a target=\"_blank\" href=\"https:\/\/www.facebook.com\/watch\/?v=621616910180641\" style=\"\" rel=\"noopener\">watch, runtime: 4:24<\/a>).<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>ALSO- <\/strong><strong>S&P downgrade: <\/strong>S&P Global Rating downgraded our sovereign credit rating to B- from B due to the delay in financial and structural reforms along with the threat of rampant inflation on Egypt\u2019s growth expectations, economist Medhat Nafie told El Hekaya (<a target=\"_blank\" href=\"https:\/\/www.youtube.com\/watch?v=LwcjmghBTxU&ab_channel=%D8%A7%D9%84%D8%AD%D9%83%D8%A7%D9%8A%D8%A9\" style=\"\" rel=\"noopener\">watch, runtime: 9:26<\/a>).<\/p>\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/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\/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 class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/palestine\/\">Palestine<\/a>\n        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class=\"issue-section__content\">\n<div class=\"stories\">            <!-- Show divider before story section -->\r\n        <div \r\n            class=\"\r\n                story-section            \"\r\n            id=\"608532\">\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\">Also on our Radar<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2023\/10\/22\/saudi-bashayer-could-deploy-an-initial-egp-1-bn-to-develop-industrial-land-in-egypt-plus-japanese-investment-re-life-airarabia-drive-finance\/\">\r\n                            Saudi Bashayer could deploy an initial EGP 1 bn to develop industrial land in Egypt. PLUS: Japanese investment, Re.life, AirArabia, Drive Finance                        <\/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\/22\/saudi-bashayer-could-deploy-an-initial-egp-1-bn-to-develop-industrial-land-in-egypt-plus-japanese-investment-re-life-airarabia-drive-finance\/\" 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\/22\/saudi-bashayer-could-deploy-an-initial-egp-1-bn-to-develop-industrial-land-in-egypt-plus-japanese-investment-re-life-airarabia-drive-finance\/')\">\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\/22\/saudi-bashayer-could-deploy-an-initial-egp-1-bn-to-develop-industrial-land-in-egypt-plus-japanese-investment-re-life-airarabia-drive-finance\/\">\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 Bashayer could deploy an initial EGP 1 bn to develop industrial land in Egypt. 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Trade Minister Ahmed Samir and SBC General Manager Mohammad Elsekaily discussed the potential investment on Thursday. Samir proposed a number of industrial zones that the company could look into, including the industrial zone in Sadat City.<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The company has an experienced German partner:<\/strong> SBC is set to collaborate on land development with an unnamed German partner who is looking to invest in sustainable energy, recycling, and waste treatment, Elsekaily said, adding that the move could attract major German companies and manufacturers into the country. The investor has \u201cextensive experience and a history of global work\u201d in these fields and wants to commence operations in Egypt, the statement reads.<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>#2- Planning Ministry discusses investments with Japanese delegation: <\/strong>A review of the progress of Egypt Vision 2030\u2019s sustainable development strategy, investment promotion, and the role of the private sector in the economy were on the agenda as Planning Minister Hala El Said met yesterday with a group of Japanese investors, a <a target=\"_blank\" href=\"https:\/\/www.facebook.com\/EgyptianCabinet\/posts\/pfbid0gMjQhmBZAtgoAxAjV37jnoEwpyeuoBMRSNEzTUzdo1j3cDs84yuc3nEPZ6B3TozHl\" style=\"\" rel=\"noopener\">statement<\/a> from the Planning Ministry reads. The Japanese delegation, headed by Kanazawa Kiyokyo, the owner of Japanese real estate firm Titan Capital, met with El Said and Sovereign Fund of Egypt head Ayman Soliman, among other officials.<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>DEBT-<\/strong><\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"> <strong>Drive Finance eyes fresh credit facilities: <\/strong>GB Auto\u2019s car finance arm Drive Finance has entered negotiations with six private and state-owned banks to obtain credit facilities worth some EGP 1.5 bn to support its factoring and consumer financing services, Managing Director Ahmed Osama told <a target=\"_blank\" href=\"https:\/\/www.almasdar.com\/133856\" style=\"\" rel=\"noopener\">Al Masdar<\/a>. The banks in question are the National Bank of Egypt, Banque du Caire, CIB, EG Bank, FABMisr, and Abu Dhabi Commercial Bank, he added.<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The details:<\/strong> Drive Finance, which is a subsidiary of GB Corp\u2019s financing arm GB Capital, will obtain more than 50% of the facilities by the end of October, Osama said. The company wants to develop its new car market and expects to double sales volumes in 2023 compared to the year before as a result of expanding its reach across Egypt. <\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>It\u2019s a tricky market at the moment: <\/strong>Despite a month-by-month uptick in car sales in <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/83accc27-5fe4-4abb-a673-91c7d921ea55\" style=\"\" rel=\"noopener\">September<\/a>, sales still remained 40% lower than the 13.3k vehicles sold in the same month last year. Sales across the first eight months of the year were 66% lower than in the same period in 2022.<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>TAX-<\/strong><\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>We\u2019ve signed off on a double taxation agreement with Qatar: <\/strong>President El Sisi ratifieda treaty scrapping double taxation between Egypt and Qatar, the Official Gazette reported on Thursday. The agreement, which was first <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/45a28956-8000-42b1-948c-4eea40a6fb50\" style=\"\" rel=\"noopener\">inked in February<\/a> and approved by the House in <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/936b39e5-5bac-4b19-a3f6-1931538ced39\" style=\"\" rel=\"noopener\">July<\/a>, will scrap double taxation and also crack down on tax evasion. The treaty covers capital gains, income, corporate profits, interest and dividends.<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>T<\/strong><strong>his should help with investment:<\/strong> Qatari Prime Minister Khalid Bin Khalifa Bin Abdulaziz Al Thani <a target=\"_blank\" href=\"https:\/\/www.facebook.com\/EgyptianCabinet\/posts\/pfbid09u1v8cwMMbaRLqLfKEvu7ydDYj7gFC9bjcRYMvYJFgUeBd7Ar2pK36BCNpMx7xsul?__cft__%5B0%5D=AZWJRjakInkAYB9_-UIoPbttHkpZ5STKMJIbat_7fi69PhO_fzHNW83NL7dsF21yVkASKt46iIy5PAwEMRWXVit2FQ9goLr6GVH6wWCmcDheeXpciqKWDYgj5MV43bqtnc9zblFIWXwabqAduYxiJcF_c-Xsc5iX0w29UW8suVHnTJTt8YWCYhXUMZG_r0i_f-V1HLt_Jx167YuKhXe7u-l3&amp;__tn__=%2CO%2CP-R\" style=\"\" rel=\"noopener\">said<\/a> in February that the double taxation agreement will help create a \u201ctangible\u201d impact on boosting and encouraging Qatari investments in Egypt.<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>MINING- <\/strong><\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Online platform for mineral and gold mining projects in the works:<\/strong> An online platform that connects mining projects in Egypt with potential investors in a bid to drum up local and foreign investment will launch its trial phase in the next few months, according to an Oil Ministry <a target=\"_blank\" href=\"https:\/\/tinyurl.com\/m4x4hx7t\" style=\"\" rel=\"noopener\">statement<\/a> on Thursday<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The details<\/strong>: Users will be able to view geological data, maps, exploration rights and track available licenses for any given area. Users will also be able to apply for a permit via a single portal in an attempt to streamline the investment process. The platform will also allow for communication between potential investors, the Egyptian Resources Authority (EMRA), current license holders, and the public, according to the statement. <\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Who\u2019s behind the project?<\/strong> An alliance between industrial tech firm <a target=\"_blank\" href=\"https:\/\/www.trimble.com\/en\" style=\"\" rel=\"noopener\">Trimble<\/a>, digitization and geospatial firm MSA South Africa, mining producer <a target=\"_blank\" href=\"https:\/\/goldpyramidgroup.com\/\" style=\"\" rel=\"noopener\">Gold Pyramid Group<\/a>, and tech solutions company <a target=\"_blank\" href=\"https:\/\/newsmartegypt.com\/\" style=\"\" rel=\"noopener\">New Smart<\/a> will jointly head the project. <\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>AVIATION-<\/strong><\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>AirArabia to begin Sharjah-Giza route in December:<\/strong> The UAE\u2019s low-cost carrier AirArabia will begin regular flights between Sharjah International Airport and Sphinx International Airport on 6 December 2023, according to the <a target=\"_blank\" href=\"https:\/\/press.airarabia.com\/air-arabia-launches-non-stop-flights-between-sharjah-and-egypts-sphinx-international-airport\/\" style=\"\" rel=\"noopener\">company\u2019s website<\/a>. The airline will make five flights a week between Sharjah and Giza.<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>TECHNOLOGY-<\/strong><\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Re.life expands across MENA: <\/strong>UAE-based company <a target=\"_blank\" href=\"https:\/\/relife.com\/\" style=\"\" rel=\"noopener\">Re.life<\/a> has set up a new office in the Saudi city of Dammam and is planning new offices in Egypt, Turkey, Jordan, and Jeddah, the company said in a press release picked up by <a target=\"_blank\" href=\"https:\/\/www.zawya.com\/en\/press-release\/companies-news\/relife-announces-expansion-to-ksa-egypt-jordan-and-turkey-dbioem26\" style=\"\" rel=\"noopener\">Zawya<\/a>. The company runs digital platforms for the trading of recyclables as well as for logistics services.<\/p>\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/also-on-our-radar\/\">ALSO ON OUR RADAR<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/aviation\/\">aviation<\/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\/gb-auto\/\">GB Auto<\/a>\n                <!-- <span 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data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2023\/10\/1048.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2023\/10\/1048.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-608534\" class=\"content-area-description single-story post-608534 post type-post status-publish format-standard has-post-thumbnail hentry category-planet-finance tag-earnings-watch tag-enterpriseam tag-first-abu-dhabi-bank tag-openai 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\/.7a67e040-0730-43f9-8f9d-80ee1b14f175.mp3\"><\/audio><\/figure><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"> <strong>UAE\u2019s FAB notches record earnings in 3Q: <\/strong>First Abu Dhabi Bank (FAB), the UAE's biggest bank by assets, saw its net profits climb 46% y-o-y to AED 4.3 bn in 3Q 2023, it said in a <a target=\"_blank\" href=\"https:\/\/ent.news\/2023\/10\/1019.pdf\" style=\"\" rel=\"noopener\">statement (pdf)<\/a>. The quarter\u2019s net income topped the c. AED 3.7 bn dirhams forecasted by analysts, <a target=\"_blank\" href=\"https:\/\/www.reuters.com\/business\/finance\/uaes-top-bank-fab-beats-profit-estimates-higher-interest-income-2023-10-19\/\" style=\"\" rel=\"noopener\">Reuters<\/a> reports, citing LSEG data.<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>OpenAI could offer up USD 86 bn worth of shares<\/strong>: Artificial intelligence startup OpenAI \u2014 the parent of AI-powered language model ChatGPT \u2014 is apparently considering selling shares of its existing employees worth an estimated USD 86 bn, Bloomberg <a target=\"_blank\" href=\"https:\/\/www.bloomberg.com\/news\/articles\/2023-10-18\/openai-is-in-talks-to-sell-shares-at-an-86-billion-valuation?srnd=premium-middle-east\" style=\"\" rel=\"noopener\">wrote<\/a> on Thursday, citing unnamed sources it says are in the know. Following the sale, the company, which is 49%-owned by Microsoft, would stand alongside Elon Musk\u2019s SpaceX and ByteDance\u2019s TikTok as one of the most valuable privately held companies, Bloomberg notes.<\/p><p><a target=\"_blank\" id=\"t.bcacb79470a67910b0d787d948f43fb98e065f02\" rel=\"noopener\"><\/a><a target=\"_blank\" id=\"t.0\" rel=\"noopener\"><\/a> <\/p><div class=\"stock-ticker-panel\">\n<table class=\"table stock-ticker-table table-striped markets-table\">\n<tbody>\n<tr class=\"tr-row-down\">\n<td class=\"td-list-down\">\n<p><svg class=\"e-icon e-TypeMarkets1\"><use xlink:href=\"#e-TypeMarkets1\"><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>EGX30 <\/strong><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">21,617<\/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: +48.1%)<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-none\">\n<td class=\"td-list-none\">\n<p><svg class=\"e-icon e-TypeMarkets\"><use xlink:href=\"#e-TypeMarkets\"><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>USD (CBE)<\/strong><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">Buy 30.83<\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">Sell 30.96<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-none\">\n<td class=\"td-list-none\">\n<p><svg class=\"e-icon e-TypeMarkets\"><use xlink:href=\"#e-TypeMarkets\"><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>USD at CIB<\/strong><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">Buy 30.85<\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">Sell 30.95<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-none\">\n<td class=\"td-list-none\">\n<p><svg class=\"e-icon e-TypeMarkets\"><use xlink:href=\"#e-TypeMarkets\"><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>Interest rates CBE<\/strong><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">19.25% deposit<\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">20.25% lending<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-down\">\n<td class=\"td-list-down\">\n<p><svg class=\"e-icon e-TypeMarkets1\"><use xlink:href=\"#e-TypeMarkets1\"><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>Tadawul<\/strong><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">10,655<\/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: +1.7%)<\/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>A<\/strong><strong>D<\/strong><strong>X<\/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\">9,307<\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">-1.3% (YTD: -8.9%)<\/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>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\">3,752<\/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: +12.5%)<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-down\">\n<td class=\"td-list-down\">\n<p><svg class=\"e-icon e-TypeMarkets1\"><use xlink:href=\"#e-TypeMarkets1\"><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>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\">4,224<\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">-1.3% (YTD: +10.0%)<\/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>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\">7,402<\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">-1.3% (YTD: -0.7%)<\/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>Eu<\/strong><strong>r<\/strong><strong>o 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\">4,025<\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">-1.6% (YTD: +6.1%)<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-down\">\n<td class=\"td-list-down\">\n<p><svg class=\"e-icon e-TypeMarkets1\"><use xlink:href=\"#e-TypeMarkets1\"><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>Brent crude<\/strong><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">USD 92.16<\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">-0.2%<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-down\">\n<td class=\"td-list-down\">\n<p><svg class=\"e-icon e-TypeMarkets1\"><use xlink:href=\"#e-TypeMarkets1\"><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>Natural gas <\/strong>(Nymex)<\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">USD 2.90<\/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\">-2.0%<\/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>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 1,994.40  <\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">+0.7%<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-up\">\n<td class=\"td-list-up\">\n<p><svg class=\"e-icon e-TypeMarkets11\"><use xlink:href=\"#e-TypeMarkets11\"><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>BTC<\/strong><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">USD 30,051<\/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\">+1.4% (YTD: +81.7%)<\/p>\n<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<\/div><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>THE CLOSING BELL-<\/strong><\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The EGX30 fell 2.3% at today\u2019s close<\/strong> on turnover of EGP 3.52 bn (57.8% above the 90-day average). Foreign investors were net sellers. The index is up 48.1% YTD.<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>In the green: <\/strong>AMOC (+2.4%), TMG Holding (+2.1%) and Palm Hills Development (+1.0%).<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>In the red: <\/strong>Mopco (-10.1%), Sidpec (-5.4%) and Eastern Company (-4.8%).<\/p>\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/earnings-watch\/\">earnings watch<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/first-abu-dhabi-bank\/\">First Abu Dhabi Bank<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/openai\/\">OpenAI<\/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=\"608536\" 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\/22\/608536\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-608536\" class=\"content-area-description single-story post-608536 post type-post status-publish format-standard hentry category-calendar wpautop entry\">\n\n\t\t\t<hr class=\"wp-block-separator has-text-color has-primary-color has-alpha-channel-opacity has-primary-background-color has-background is-style-wide\">\n\n\t\t<h2 class=\"wp-block-heading mt-0 has-primary-color has-text-color has-link-color has-normal-font-size\" style=\"padding-top:0px;padding-right:0px;padding-bottom:0px;padding-left:0px\">\n\t\t\t<strong> CALENDAR<\/strong>\n\t\t<\/h2>\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:700\">OCTOBER <\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:400;\">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;\">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 style=\"font-weight:400;\">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 style=\"font-weight:400;\">October or November: Gov\u2019t expects to finalize stake sale 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 style=\"font-weight:400;\">12 November (Sunday): Deadline for technical and financial offers for Misr Aluminium Company rehabilitation project (extended from 12 October)<\/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 November (Wednesday): Deadline for MTO to buyback Dice Sports and Casual Wear\u2019s 46.9% Stake.<\/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 style=\"font-weight:400;\">December: 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 style=\"font-weight:400;\">Gov\u2019t expects to finalize sale of a stake in 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;\">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>5 May (Sunday): 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;\">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\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>Gaza double standards | S&#038;P downgrade | China x Egypt debt swap | 5G incoming | sustainable bond framework | TMG ups hotel stake<\/p>\n","protected":false},"featured_media":608514,"menu_order":0,"template":"","categories":[],"tags":[],"class_list":["post-608513","issue","type-issue","status-publish","has-post-thumbnail","hentry","wpautop","entry"],"acf":{"mongo_id":"f49e4243-9cc1-43fa-9eff-f1f49bac753b","teaser":"Gaza double standards | S&P downgrade | China x Egypt debt swap | 5G incoming | sustainable bond framework | TMG ups hotel stake","photo_url":"https:\/\/ent.news\/2023\/10\/1055.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>S&amp;P downgrades Egypt\u2019s credit rating + Cairo peace summit underlines Western double standard on Gaza war - EnterpriseAM 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