{"id":608942,"date":"2023-10-29T00:00:00","date_gmt":"2023-10-29T00:00:00","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/?post_type=issue&#038;p=608942"},"modified":"2025-12-17T01:35:04","modified_gmt":"2025-12-17T01:35:04","slug":"you-win-some-cbe-eases-credit-card-restrictions-and-you-lose-some-it-looks-like-blackouts-may-be-getting-longer","status":"publish","type":"issue","link":"https:\/\/enterpriseam.com\/egypt\/issues\/you-win-some-cbe-eases-credit-card-restrictions-and-you-lose-some-it-looks-like-blackouts-may-be-getting-longer\/","title":{"rendered":"You win some (CBE eases credit card restrictions) and you lose some (it looks like blackouts may be getting longer)"},"content":{"rendered":"<section id=\"608944\" 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=\"608944\">\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\/29\/the-blackouts-arent-going-away-they-look-to-be-getting-worse\/\">\r\n                            The blackouts aren\u2019t going away \u2014 they look to be getting worse                        <\/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\/29\/the-blackouts-arent-going-away-they-look-to-be-getting-worse\/\" 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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We have the rundown on that in this morning\u2019s news well, below. Second:<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"> <a id=\"wwtt1\"><\/a> <strong>We expected the blackouts to be over by now, but they may actually be <\/strong><strong>getti<\/strong><strong>ng <\/strong><strong>worse. <\/strong>The Electricity Ministry has begun extending the duration of daily power cuts to 90 minutes from one hour, several local news outlets (<a target=\"_blank\" href=\"https:\/\/bit.ly\/45SAHVo\" style=\"\" rel=\"noopener\">here<\/a>, <a target=\"_blank\" href=\"https:\/\/www.cairo24.com\/1891865\" style=\"\" rel=\"noopener\">here<\/a>) reported yesterday, citing anonymous ministry sources. It isn\u2019t clear to us whether this is a change in policy or a one-off prompted by something new in the mix \u2014 nor is it clear what has prompted the change. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>A few of us at Enterprise HQ can testify to this:<\/strong> From Alexandria to Maadi, several of us noticed a longer-than-usual blackout yesterday. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Remember:<\/strong> The ministry <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/7db6d0ec-6a2c-429f-b240-a34fa57dfddf\" style=\"\" rel=\"noopener\">began reducing the electrical load in late July<\/a> onthe back of an extended heatwave and challenges to domestic natural gas production. While temperatures have now fallen below peak, officials have noted that the cut saves the country some USD 300 mn per month. Egypt\u2019s gas supply was dealt another blow earlier this month when Chevron halted shipments of Israeli gas from its Tamar field due to the ongoing war in Gaza.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>HAPPENING TODAY- <\/strong><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The city of a thousand minarets and endless conferences:<\/strong><\/p>\n<ul>\n<li>Energy professionals are heading to <strong>Egypt Energy <\/strong>for the region\u2019s biggest energy <a target=\"_blank\" href=\"https:\/\/www.egypt-energy.com\/en\/home.html\" style=\"\" rel=\"noopener\">conference<\/a>. The gathering wraps on Tuesday;<\/li>\n<li>The people over at <strong>Cairo Water Week <\/strong>are also kicking off their sixth edition of their annual <a target=\"_blank\" href=\"https:\/\/www.cairowaterweek.eg\/\" style=\"\" rel=\"noopener\">conference<\/a> running until Tuesday to tackle our most pressing water issues. <\/li>\n<\/ul>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>IN THE HOUSE-<\/strong><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><a id=\"wwtt5\"><\/a> <strong>The House of Representatives is back in session today <\/strong>following a two-week break. MPs will discuss and vote on a <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/ab54f077-c5c2-4205-93a9-92757baed9bf\" style=\"\" rel=\"noopener\">USD 500 mn<\/a><a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/ab54f077-c5c2-4205-93a9-92757baed9bf\" style=\"\" rel=\"noopener\">loan<\/a> from Deutsche Bank and the Arab Banking Corporation to support the state budget. MPs will also look into two draft laws, one establishing the Egyptian Export and Investment Guarantee Agency to promote Egyptian exports \u2014 replacing the Export Credit Guarantee Company of Egypt \u2014 and one establishing a new National Council for Childhood and Motherhood.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>On the agenda tomorrow: <\/strong>The House will discuss and vote on <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/b8c9ecad-d6be-4895-b121-d382d5cd1d66\" style=\"\" rel=\"noopener\">three draft bills<\/a> authorizing the Oil Ministry to contract ExxonMobil and Pico Petroleum to explore for oil in the Mediterranean and Gulf of Suez in partnership with various local players. MPs will also vote on a EUR 670k grant from the Spanish Agency for International Development Cooperation to <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/2583fa6e-4631-4569-ad50-be28c5a3e0b4\" style=\"\" rel=\"noopener\">help overhaul<\/a> how the agriculture sector uses water.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>HAPPENING THIS WEEK:<\/strong><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><a id=\"wwtt2\"><\/a> <strong>#1- The CBE\u2019s Monetary Policy Committee will meet on Thursday<\/strong> to review rates. The bank <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/dd8f3352-c9f5-427e-a7f8-6e36242c1043\" style=\"\" rel=\"noopener\">kept interest rates unchanged<\/a> during its September meeting in response to a slight decline in core inflation. We\u2019ll be out with our customary pre-MPC poll later this week. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>#2- The CBE will be keeping a close eye on what happens in Washington on Wednesday<\/strong>, when the Federal Reserve concludes its penultimate policy meeting of the year. The market is <a target=\"_blank\" href=\"https:\/\/www.nasdaq.com\/articles\/november-fed-meeting-preview:-have-interest-rates-finally-peaked\" style=\"\" rel=\"noopener\">pricing in a 99.5% chance<\/a> that the Fed keeps rates on hold as inflation tempers and the war in Gaza triggers fresh uncertainty for the global economy.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><a id=\"wwtt4\"><\/a> <strong>#3- A third downgrade in the cards?<\/strong> Fitch Ratings will publish its review of our sovereign credit rating on Friday, 3 November. <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/6fce3ee3-016d-412b-be92-c47ec2ae0e72\" style=\"\" rel=\"noopener\">Moody\u2019s<\/a> and <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/3c9d2065-c5ad-456f-adb1-867053c60a70\" style=\"\" rel=\"noopener\">S&P Global Ratings<\/a> both downgraded our rating deeper into junk territory in recent weeks due to our foreign-currency shortage and mounting debt problems.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>#4- Egyptian tech bros need to look toward DC this week as the White House prepares to release an executive order regulating AI. <\/strong>  A \u201csweeping\u201d new order (which doesn\u2019t require asset from Congress) will \u201cdeploy numerous federal agencies to monitor the risks of artificial intelligence and develop new uses for the technology while attempting to protect workers,\u201d <a target=\"_blank\" href=\"https:\/\/www.politico.com\/news\/2023\/10\/27\/white-house-ai-executive-order-00124067\" style=\"\" rel=\"noopener\">Politico<\/a> writes.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>#5- Apple is promising a \u201cscary fast\u201d Mac event tomorrow night. <\/strong>Don\u2019t expect to watch it stream live unless you\u2019re a serious night owl: <a target=\"_blank\" href=\"https:\/\/www.apple.com\/apple-events\/\" style=\"\" rel=\"noopener\">It starts at 2am CLT.<\/a> <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>WATCH THIS SPACE-<\/strong><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"> <a id=\"wwtt3\"><\/a> <strong>#1- Is a carbon tax on its way? <\/strong>The Madbouly government is drafting legislation that would introduce a carbon tax, reports <a target=\"_blank\" href=\"https:\/\/www.alborsaanews.com\/2023\/10\/28\/1727957\" style=\"\" rel=\"noopener\">Al Borsa<\/a>, citing anonymous sources. The bill is expected to be presented to the House of Representatives within days, according to the newspaper. No further details about the cost of the tax or its mechanism for implementation were reported.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Good for the climate, good for the public purse: <\/strong>Global tax receipts from carbon taxes and emissions trading have reached about USD 95 bn, the <a target=\"_blank\" href=\"https:\/\/www.worldbank.org\/en\/news\/press-release\/2023\/05\/23\/record-high-revenues-from-global-carbon-pricing-near-100-billion#:~:text=Record%20High%20Revenues%20From%20Global%20Carbon%20Pricing%20Near%20%24100%20Billion&text=BILBAO%2C%20May%2023%2C%202023%20%E2%80%94,Carbon%20Pricing%E2%80%9D%20report%20released%20today.\" style=\"\" rel=\"noopener\">World Bank<\/a> said earlier this year.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>#2- Linking up Greece Egypt\u2019s grid could soon receive funding<\/strong>: The EU may include the plan to link the power grids of Greece and Egypt on a list of \u201cprojects of mutual interest\u201d, which would help the project secure licensing and funding, <a target=\"_blank\" href=\"https:\/\/www.bloomberg.com\/news\/articles\/2023-10-26\/eu-to-include-greece-egypt-power-link-on-mutual-interest-list#xj4y7vzkg\" style=\"\" rel=\"noopener\">Bloomberg<\/a> reports. Local renewable energy developer Infinity Power <a target=\"_blank\" href=\"https:\/\/enterprise.news\/climate\/en\/news\/story\/414aad37-9a32-4305-b52b-01080a56d104\" style=\"\" rel=\"noopener\">signed an agreement<\/a> with Greece\u2019s Copelouzos Group in May to conduct a feasibility study into the proposed 950-km, 3-GW link.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>There could be more to come<\/strong>: GREGY is among five proposed projects to link Egypt\u2019s power grids to Europe, which if implemented, would see Egypt exporting its <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/97de7175-da9a-4189-99de-bfb45a999e00\" style=\"\" rel=\"noopener\">surplus<\/a> to Italy, Cyprus, and Greece.`<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>#3- State-funded factory construction boom on the way?<\/strong> The state is ready to support factory construction projects by building the core structure of factories for companies to then fit with their own production lines, President Abdel Fattah El Sisi said on the sidelines of the second annual International Industry Forum (<a target=\"_blank\" href=\"https:\/\/www.youtube.com\/watch?v=DndhyQ-d8iM\" style=\"\" rel=\"noopener\">watch, runtime: 1:54<\/a>). The initiative is hoped to stimulate local industry, El Sisi added.<\/p>\n<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<\/p><\/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 <\/div>\n<\/p><\/div>\n<\/div>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>THE BIG STORY ABROAD <\/strong>remains Israel\u2019s war on Gaza. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Israel says the \u201csecond stage\u201d of the war has begun as it lays siege to Gaza: <\/strong>The Israeli military has sent forces into Gaza and is subjecting the besieged territory to the most devastating aerial bombardment yet. Stopping short of announcing a ground invasion, the country\u2019s prime minister, Benjamin Netanyahu, said yesterday that the \u201csecond stage\u201d of the war has begun, a day after a total communications blackout was imposed over Gaza as Israeli jets pounded the territory and tanks rolled over the border.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Global condemnation is growing, but don\u2019t expect Israel to listen:<\/strong> Netanyahu reiterated yesterday that it will be a \u201clong war\u201d and vowed to completely destroy Hamas.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The Arab world is not happy: <\/strong><a target=\"_blank\" href=\"https:\/\/tinyurl.com\/2wbh3ru6\" style=\"\" rel=\"noopener\">Egypt<\/a>, together with Arab nations including <a target=\"_blank\" href=\"https:\/\/twitter.com\/KSAmofaEN\/status\/1718317635681570950\" style=\"\" rel=\"noopener\">Saudi Arabia<\/a>, the <a target=\"_blank\" href=\"https:\/\/wam.ae\/en\/details\/1395303214660\" style=\"\" rel=\"noopener\">UAE<\/a>, and <a target=\"_blank\" href=\"https:\/\/omannews.gov.om\/topics\/ar\/5\/show\/424933\/ona\" style=\"\" rel=\"noopener\">Oman<\/a> slammed Israel\u2019s decision to send troops into the strip. The Foreign Ministry warned of \u201cthe grave risks and unprecedented humanitarian and security repercussions\u201d of the invasion and said it amounts to \u201ca new flagrant violation\u201d of international law. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Erdogan is even less so:<\/strong> Turkish president Recep Tayip Erdogan labeled Israel a \u201cwar criminal\u201d and blasted Western countries for being \u201cthe main culprit behind the massacre\u201d taking place in Gaza. \u201cIsrael, we will also declare you as a war criminal to the world,\u201d Erdogan told thousands of protesters at a pro-Palestine rally, according to <a target=\"_blank\" href=\"https:\/\/www.aa.com.tr\/en\/middle-east\/-turkiye-to-introduce-israel-to-world-as-war-criminal-turkish-president-erdogan\/3036204#\" style=\"\" rel=\"noopener\">Turkish media<\/a>.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Turns out that speech wasn\u2019t great for Turkish-Israeli relations:<\/strong> Israel will \u201creevaluate\u201d its relationship with Turkey and has withdrawn all diplomatic staff from Ankara in response to Erdogan\u2019s speech, Foreign Minister Eli Cohen <a target=\"_blank\" href=\"https:\/\/twitter.com\/elicoh1\/status\/1718295085270417780\" style=\"\" rel=\"noopener\">said<\/a> yesterday.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The UAE has called for an emergency session at the UN Security Council<\/strong> in light of Israel\u2019s escalation, <a target=\"_blank\" href=\"https:\/\/www.jpost.com\/breaking-news\/article-770629\" style=\"\" rel=\"noopener\">the Jerusalem Post<\/a> reported anonymous diplomats as saying yesterday.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>THE BIG BUSINESS STORY ABROAD- <\/strong><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>SBF takes the stand. <\/strong>FTX\u2019s Sam Bankman-Fried gave testimony to a New York court on Friday alleging that he had little to no information regarding the financial relationship between the collapsed crypto exchange and its affiliated hedge fund Alameda Research. Bankman-Fried \u2014 who is facing a <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/079f7d2f-f64d-4436-b77c-0338113eb4ed\" style=\"\" rel=\"noopener\">hefty list of criminal charges<\/a> following the implosion of the exchange \u2014 denied having defrauded customers, though admitting \u201ca lot of people got hurt. Customers. Employees\u2026I made a number of small mistakes and a number of large mistakes.\u201d (<a target=\"_blank\" href=\"https:\/\/www.reuters.com\/legal\/sam-bankman-fried-jury-hear-ftx-founders-testimony-fraud-trial-2023-10-27\/\" style=\"\" rel=\"noopener\">Reuters<\/a> | <a target=\"_blank\" href=\"https:\/\/www.nytimes.com\/2023\/10\/27\/technology\/sam-bankman-fried-testifies-ftx.html\" style=\"\" rel=\"noopener\">New York Times<\/a> <strong> | <\/strong><a target=\"_blank\" href=\"https:\/\/www.ft.com\/content\/d0f641e8-2786-4281-a61d-4fe60d2796a1\" style=\"\" rel=\"noopener\">Financial Times<\/a> | <a target=\"_blank\" href=\"https:\/\/edition.cnn.com\/2023\/10\/28\/investing\/sam-bankman-fried-testimony-key-takeaways\/index.html\" style=\"\" rel=\"noopener\">CNN<\/a> | <a target=\"_blank\" href=\"https:\/\/www.axios.com\/2023\/10\/27\/sbf-ftx-trial-testifies-fraud-crypto\" style=\"\" rel=\"noopener\">Axios<\/a>)<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"> <strong>ALSO- Sudan\u2019s two warring parties meet in Riyadh:<\/strong> Sudan\u2019s warring factions announced that they have resumed the latest round of Saudi and US-mediated peace talks in Jeddah, reports <a target=\"_blank\" href=\"https:\/\/www.france24.com\/en\/live-news\/20231026-sudan-peace-talks-resume-in-jeddah-with-limited-goals\" style=\"\" rel=\"noopener\">AFP<\/a>. The negotiations, which restarted on Thursday last week, are held \u201cin partnership\u201d with the African Union and the Intergovernmental Authority on Development, a Saudi Foreign Ministry <a target=\"_blank\" href=\"https:\/\/twitter.com\/KSAmofaEN\/status\/1717492541262598522\/photo\/1\" style=\"\" rel=\"noopener\">statement on X<\/a> said. Saudi Arabia called for the Sudanese army led by General Abdel Fattah Al Burhan and the Rapid Support Forces to abide by the Jeddah Declaration to protect civilians and a short-term ceasefire deal, both of which were signed by both sides in May.<\/p>\n\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/electricity\/\">electricity<\/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\/energy\/\">energy<\/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=\"608946 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=\"608946\">\r\n            \r\n            <div class=\"story__body\">\r\n\r\n                <a href=\"https:\/\/enterpriseam.com\/egypt\/2023\/10\/29\/608946\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-608946\" class=\"content-area-description single-story post-608946 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=\"www.somabaygolf.com\" target=\"_blank\" rel=\"noopener\"><img data-recalc-dims=\"1\" decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/ads\/imgs\/68.jpg?ssl=1\"><\/a><\/span><\/p><div class=\"grouped-tags\">\n<p><span>Experience golf by the serene sea, where tranquility meets tee time. Somabay Golf Courses are blessed with a year-round climate, an 18-hole Championship golf course designed by Gary Player. For booking inquiries, call +201223503528 or visit our website <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"http:\/\/www.somabaygolf.com\" style=\"\">www.somabaygolf.com<\/a><\/span><span style=\"font-weight:400;\">.<\/span><\/p>\n<\/div>\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"608947\" 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=\"608947\">\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\">Banking<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2023\/10\/29\/cbe-loosens-credit-card-restrictions-for-users-abroad\/\">\r\n                            CBE loosens credit card restrictions for Egyptians abroad                        <\/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\/29\/cbe-loosens-credit-card-restrictions-for-users-abroad\/\" 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\/29\/cbe-loosens-credit-card-restrictions-for-users-abroad\/')\">\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\/29\/cbe-loosens-credit-card-restrictions-for-users-abroad\/\">\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=CBE loosens credit card restrictions for users abroad&url=https:\/\/enterpriseam.com\/egypt\/2023\/10\/29\/cbe-loosens-credit-card-restrictions-for-users-abroad\/\">\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\/29\/cbe-loosens-credit-card-restrictions-for-users-abroad\/&title=CBE loosens credit card restrictions for users abroad\">\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=CBE+loosens+credit+card+restrictions+for+users+abroad+https%3A%2F%2Fenterpriseam.com%2Fegypt%2F2023%2F10%2F29%2Fcbe-loosens-credit-card-restrictions-for-users-abroad%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\/29\/cbe-loosens-credit-card-restrictions-for-users-abroad\/\">\r\n                    <div class=\"photo photo--above\">\r\n                        <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2023\/10\/1343.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"608948\" data-permalink=\"https:\/\/enterpriseam.com\/egypt\/2023\/10\/29\/cbe-loosens-credit-card-restrictions-for-users-abroad\/1343-jpg-6\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2023\/10\/1343.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"1343.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2023\/10\/1343.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2023\/10\/1343.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-608947\" class=\"content-area-description single-story post-608947 post type-post status-publish format-standard has-post-thumbnail hentry category-banking tag-banking tag-central-bank-of-egypt tag-egp tag-enterpriseam tag-foreign-exchange wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<figure class=\"wp-block-audio mb-0\"><audio controls preload=\"metadata\" src=\"https:\/\/s3.us-east-1.amazonaws.com\/ent.news\/audio\/2023\/10\/.74fe8a57-6b5e-4e74-8bac-3a4eda0ca406.mp3\"><\/audio><\/figure><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"> <strong>The Central Bank of Egypt (CBE) has eased its restrictions <\/strong><strong>on credit card use abroad<\/strong> that triggered a flight to the greenback and caused the EGP to weaken significantly in the parallel market.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>What\u2019s changing:<\/strong> Credit card users will <a target=\"_blank\" href=\"https:\/\/www.cbe.org.eg\/ar\/news-publications\/news\/2023\/10\/26\/07\/26\/regulations-to-facilitate-the-usage-of-credit-cards-abroad\" style=\"\" rel=\"noopener\">no longer<\/a><a target=\"_blank\" href=\"https:\/\/www.cbe.org.eg\/ar\/news-publications\/news\/2023\/10\/26\/07\/26\/regulations-to-facilitate-the-usage-of-credit-cards-abroad\" style=\"\" rel=\"noopener\">need to submit proof of travel prior to leaving the country<\/a> but will need to notify their banks of their intention to travel. The new rules instead require users to provide proof that the card was used while abroad \u2014 by sending their bank arrival and departure stamps on their passports \u2014 within a 90-day period. Failing to do this will get you a black mark on your credit rating.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Remember: <\/strong>Earlier this month, the CBE <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/e68118bf-ed08-46df-a7d6-46dc4559afec\" style=\"\" rel=\"noopener\">began limiting<\/a> the amount of FX credit card users could spend per month to the equivalent of USD 250. Under the rules, account holders are able to access their normal maximum limit only if they are outside of Egypt and provide proof of travel before leaving the country.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Cue a rush to the greenback:<\/strong> When first announced, the restrictions sent the EGP plunging against the greenback in the parallel market as people rushed to acquire FX. The USD \/ EGP exchange rate weakened to 48 from 42 in less than a week, <a target=\"_blank\" href=\"https:\/\/www.bloomberg.com\/news\/articles\/2023-10-26\/egypt-pound-pares-black-market-losses-as-credit-card-rules-ease\" style=\"\" rel=\"noopener\">Bloomberg<\/a> reported Thursday, citing data from what it said was a number of traders.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The USD weakened against the EGP on Thursday following the <\/strong><strong>announcement<\/strong>, according to traders, who said that the currency was changing hands to 43-44 \/ USD compared to 48 on Wednesday.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Remember:<\/strong> The credit card restrictions came a few days after most banks began <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/3d240d47-331c-491e-8011-e5092d22dfdb\" style=\"\" rel=\"noopener\">blocking the use of<\/a><a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/3d240d47-331c-491e-8011-e5092d22dfdb\" style=\"\" rel=\"noopener\">EGP debit cards abroad<\/a> as the central bank moved to stem outflows of FX.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>What they said:<\/strong> \u201cEgypt is in a catch-22 situation. USD shortages are prompting policymakers to restrict access to foreign currency \u2026 But these restrictions could prompt people to hoard USD, increasing their scarcity, and weakening the EGP in the black market,\u201d Bloomberg\u2019s chief EM economist Ziad Daoud said. <\/p>\n\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/banking\/\">banking<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/central-bank-of-egypt\/\">Central Bank of Egypt<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/egp\/\">EGP<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/foreign-exchange\/\">foreign exchange<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                    <\/div>\n    <\/div>\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"608949\" 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=\"608949\">\r\n            \r\n                <div class=\"issue-story-header text-center\">\r\n                    <div class=\"index-number\">3<\/div>\r\n\r\n                    <p class=\"f-graphik\">Economy<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2023\/10\/29\/private-sector-minimum-wage-to-rise-17-in-2024\/\">\r\n                            Egyptian private-sector minimum wage to rise 17% in 2024                        <\/a>\r\n                    <\/h3>\r\n\r\n                    \r\n\t\t\t\t\t\n<div class=\"cta\">\n    <div class=\"cta__btn share-dropdown-cta dropdown-toggle-btn\" style=\"position:relative\">\n        <img decoding=\"async\" src=\"https:\/\/ent.news\/internal\/408834.svg\" alt=\"\">\n        Share Story\n        <!-- Dropdown Menu -->\n        <ul class=\"share-menu\">\n            <li class=\"list-inline-item\">\n                <a href=\"https:\/\/enterpriseam.com\/egypt\/2023\/10\/29\/private-sector-minimum-wage-to-rise-17-in-2024\/\" 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\/29\/private-sector-minimum-wage-to-rise-17-in-2024\/')\">\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\/29\/private-sector-minimum-wage-to-rise-17-in-2024\/\">\n                    Facebook                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/facebook-icon2.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a target=\"_blank\" href=\"https:\/\/x.com\/intent\/post?text=Private-sector minimum wage to rise 17% in 2024&url=https:\/\/enterpriseam.com\/egypt\/2023\/10\/29\/private-sector-minimum-wage-to-rise-17-in-2024\/\">\n                    X                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/twitter-icon.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a target=\"_blank\" href=\"https:\/\/www.linkedin.com\/shareArticle?mini=true&url=https:\/\/enterpriseam.com\/egypt\/2023\/10\/29\/private-sector-minimum-wage-to-rise-17-in-2024\/&title=Private-sector minimum wage to rise 17% in 2024\">\n                    LinkedIn                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/linkedin-icon.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a href=\"https:\/\/api.whatsapp.com\/send?text=Private-sector+minimum+wage+to+rise+17%25+in+2024+https%3A%2F%2Fenterpriseam.com%2Fegypt%2F2023%2F10%2F29%2Fprivate-sector-minimum-wage-to-rise-17-in-2024%2F\">\n                    WhatsApp                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/whatsapp-icon.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n        <\/ul>\n    <\/div>\n        <\/div>\r\n                    \r\n                <\/div>\r\n\r\n            \r\n            <div class=\"story__body\">\r\n\r\n                <a href=\"https:\/\/enterpriseam.com\/egypt\/2023\/10\/29\/private-sector-minimum-wage-to-rise-17-in-2024\/\">\r\n                    <div class=\"photo photo--above\">\r\n                        <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2023\/10\/1355.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"608950\" data-permalink=\"https:\/\/enterpriseam.com\/egypt\/2023\/10\/29\/private-sector-minimum-wage-to-rise-17-in-2024\/1355-jpg-2\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2023\/10\/1355.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"1355.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2023\/10\/1355.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2023\/10\/1355.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-608949\" class=\"content-area-description single-story post-608949 post type-post status-publish format-standard has-post-thumbnail hentry category-economy tag-economy tag-enterpriseam tag-inflation tag-labor tag-legislation-watch tag-minimum-wage tag-planning-ministry tag-regulation-watch wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<figure class=\"wp-block-audio mb-0\"><audio controls preload=\"metadata\" src=\"https:\/\/s3.us-east-1.amazonaws.com\/ent.news\/audio\/2023\/10\/.adfc377b-47be-41c0-8c5b-fa34f512f184.mp3\"><\/audio><\/figure><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"> <strong>The private-sector minimum wage will rise by <\/strong><strong>17%<\/strong><strong> starting January 2024<\/strong>after the National Council for Wages (NCW) decided to raise the threshold for the third time in less than a year to support workers amid soaring inflation. In <a target=\"_blank\" href=\"https:\/\/tinyurl.com\/5n6rdmaj\" style=\"\" rel=\"noopener\">a<\/a><a target=\"_blank\" href=\"https:\/\/tinyurl.com\/5n6rdmaj\" style=\"\" rel=\"noopener\">statemen<\/a><a target=\"_blank\" href=\"https:\/\/tinyurl.com\/5n6rdmaj\" style=\"\" rel=\"noopener\">t<\/a> on Friday, the Planning Ministry said that private-sector firms will have to pay their employees a gross wage of at least EGP 3.5k a month from January, up from EGP 3k currently. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Cushioning the blow: <\/strong>Inflation <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/d1c1b9b4-919d-41f5-a4f3-85357bcc52ad\" style=\"\" rel=\"noopener\">reached an all-time high<\/a> in September as the impact of the foreign-currency shortage and a series of devaluations continued to stoke price pressures. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>This is the third time the council has hiked the minimum wag<\/strong><strong>e <\/strong><strong>in less than a year:<\/strong> With the latest increase of the private-sector minimum wage, those on the minimum wage will have seen their monthly income rise 46% from <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/0c84782e-118f-43c4-8a65-46d54cdbe3c1\" style=\"\" rel=\"noopener\">EGP 2.4k<\/a> to EGP 3.5K in less than a year\u2019s time.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>This is still less than the public-sector:<\/strong> The public-sector gross minimum wage was raised to EGP 4k this month as part of a package of measures <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/9b182e4c-7409-4375-b92f-82f32198f67c\" style=\"\" rel=\"noopener\">announced<\/a> in September aimed at easing the burden of soaring inflation on low-income households. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Annual salary increase minimums will also double: <\/strong>New rules introduced in January obliged private-sector firms to increase annual salary wages equal by at least 3% of the employee\u2019s ins. From 1 January, the minimum annual salary increase will double to EGP 200.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Refresher: <\/strong>The private-sector minimum wage is relatively new in Egypt, and was <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/5a48e903-d707-4969-9ab6-be99c9b3cb91\" style=\"\" rel=\"noopener\">introduced at<\/a><a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/5a48e903-d707-4969-9ab6-be99c9b3cb91\" style=\"\" rel=\"noopener\">the beginning of FY 2021-2022<\/a> at EGP 2.4k a month. It hasn\u2019t been met with unanimous support from the business community, with some <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/305cb528-260b-4ce8-9b62-16b7235fb92e\" style=\"\" rel=\"noopener\">complaining<\/a> that they can\u2019t afford to cover the higher wage bill. <\/p>\n\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/economy\/\">economy<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/inflation\/\">inflation<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/labor\/\">labor<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/legislation-watch\/\">Legislation Watch<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/minimum-wage\/\">minimum wage<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/planning-ministry\/\">Planning Ministry<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/regulation-watch\/\">regulation watch<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                    <\/div>\n    <\/div>\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"608951\" 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=\"608951\">\r\n            \r\n                <div class=\"issue-story-header text-center\">\r\n                    <div class=\"index-number\">4<\/div>\r\n\r\n                    <p class=\"f-graphik\">WAR WATCH<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2023\/10\/29\/middle-east-a-ticking-time-bomb-says-el-sisi-as-israel-escalates-gaza-war\/\">\r\n                            Middle East a \u201cticking time bomb,\u201d says El Sisi, as Israel escalates Gaza war                        <\/a>\r\n                    <\/h3>\r\n\r\n                    \r\n\t\t\t\t\t\n<div class=\"cta\">\n    <div class=\"cta__btn share-dropdown-cta dropdown-toggle-btn\" style=\"position:relative\">\n        <img decoding=\"async\" src=\"https:\/\/ent.news\/internal\/408834.svg\" alt=\"\">\n        Share Story\n        <!-- Dropdown Menu -->\n        <ul class=\"share-menu\">\n            <li class=\"list-inline-item\">\n                <a href=\"https:\/\/enterpriseam.com\/egypt\/2023\/10\/29\/middle-east-a-ticking-time-bomb-says-el-sisi-as-israel-escalates-gaza-war\/\" 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 Israeli military blamed the incident on the Yemen-based Houthi movement, accusing it of launching the unmanned vehicles \u201cwith the intention of harming Israel.\u201d The Egyptian military <a target=\"_blank\" href=\"https:\/\/tinyurl.com\/3m8b6cds\" style=\"\" rel=\"noopener\">said<\/a> the drones had been launched from the south of the Red Sea; the armed forces targeted one of them while it was still outside Egyptian airspace.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>\u201cI have warned of the expansion of the conflict<\/strong>, regardless of where [the expansion] comes from. The region will become a ticking time bomb that impacts us all,\u201d El Sisi said at an event on Friday (<a target=\"_blank\" href=\"https:\/\/www.youtube.com\/watch?v=wrJmRfRIQIQ\" style=\"\" rel=\"noopener\">watch, runtime: 15:57<\/a>). \u201cWe are capable of protecting our homeland and we are making significant efforts to achieve de-escalation.\u201d<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>This was the second border incident in less than a week:<\/strong> On Sunday, as many as nine Egyptian troops were injured when an Israeli tank <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/7631e105-3679-4687-b9af-8e25519d2e0c\" style=\"\" rel=\"noopener\">accidentally shelled<\/a> a border post. The IDF apologized for the incident and said they would investigate what happened.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>UN BACKS CEASEFIRE-<\/strong><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>World calls for immediate humanitarian truce:<\/strong> Israel and the US were left diplomatically isolated at the UN General Assembly on Friday after <a target=\"_blank\" href=\"https:\/\/news.un.org\/en\/story\/2023\/10\/1142847\" style=\"\" rel=\"noopener\">just 14 countries voted against a resolution<\/a> brought by Jordan that called for an \u201cimmediate, durable\u201d humanitarian truce. The final tally saw 121 countries vote in favor of the resolution and 44 abstain. Among them were close US and Israeli allies France, which voted in favor, and the UK, which abstained. The assembly rejected an amendment tabled by Canada to specifically condemn Hamas for the violence.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>\u201cEnough is enough\u201d:<\/strong> \u201cWe can no longer bear what is happening to the Palestinians,\u201d Egypt\u2019s ambassador to the UN, Osama Mahmoud Abdelkhalek, said in his address to the assembly. \u201cNo to targeting civilians, no to terrorism, no to violating international humanitarian law, no to bombarding hospitals and medical centers \u2026 No to genocide \u2014 all people are equal.\u201d<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Remember:<\/strong> Jordan spearheaded the emergency session at the UN in a bid to break the impasse at the Security Council, where the US has twice <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/fd513719-823a-44d0-ac15-bdf4160cae0f\" style=\"\" rel=\"noopener\">voted down resolutions<\/a> that would have called for an immediate ceasefire. Russia and Brazil have both put forward resolutions to bring an end to the fighting, though the US will only countenance a \u201cpause\u201d in the fighting and has insisted that the council recognize Israel\u2019s right to self-defense.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Arab Leaders release joint statement following Cairo Peace Summit:<\/strong> The foreign ministers of the nine Arab countries that attended this month\u2019s Cairo Peace Summit issued <a target=\"_blank\" href=\"https:\/\/tinyurl.com\/4jt2jpxk\" style=\"\" rel=\"noopener\">a joint statement<\/a> condemning the targeting of civilians on both sides and the forced displacement of Palestinians in Gaza. It rejected self-defense as a justification for the \u201cflagrant violations of international law\u201d and called for an immediate ceasefire. Egypt, Jordan, the UAE, Saudi Arabia, Bahrain, Qatar, Oman, Kuwait and Morocco all signed the statement.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Remember:<\/strong> The summit ended without a joint communique due to EU leaders\u2019 insistence to condemn Hamas for the escalation. Egypt released a strong statement following the gathering calling out Western leaders\u2019 \u201cincomprehensible\u201d refusal to condemn Israel\u2019s attack on Gaza.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>A diplomatic disaster for the West:<\/strong> \u201cWe were heavily criticized in [the Cairo peace summit]. It was as if all the outreach we have done over the last two years [to Arab nations] has been pissed up against the wall,\u201d <a target=\"_blank\" href=\"https:\/\/www.theguardian.com\/world\/2023\/oct\/26\/eu-expected-to-back-call-for-humanitarian-pauses-of-gaza-shelling\" style=\"\" rel=\"noopener\">the Guardian<\/a> quoted one EU source as saying.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Plenty of talks:<\/strong> El Sisi spoke this weekend with Indian Prime Minister <a target=\"_blank\" href=\"https:\/\/tinyurl.com\/56vbsufw\" style=\"\" rel=\"noopener\">Narendra<\/a> <strong><a target=\"_blank\" href=\"https:\/\/tinyurl.com\/56vbsufw\" style=\"\" rel=\"noopener\">Modi<\/a><\/strong> and Cypriot President <a target=\"_blank\" href=\"https:\/\/tinyurl.com\/2tzhht5s\" style=\"\" rel=\"noopener\">Nikos<\/a> <strong><a target=\"_blank\" href=\"https:\/\/tinyurl.com\/2tzhht5s\" style=\"\" rel=\"noopener\">Christodoulides<\/a><\/strong>. Foreign Minister Sameh Shoukry spoke to his Saudi counterpart <a target=\"_blank\" href=\"https:\/\/twitter.com\/MfaEgypt\/status\/1718301139072852354\" style=\"\" rel=\"noopener\">Prince Faisal<\/a> <strong><a target=\"_blank\" href=\"https:\/\/twitter.com\/MfaEgypt\/status\/1718301139072852354\" style=\"\" rel=\"noopener\">bin Farhan<\/a><\/strong> and British Foreign Secretary <a target=\"_blank\" href=\"https:\/\/twitter.com\/MfaEgypt\/status\/1718215751658512435\" style=\"\" rel=\"noopener\">James<\/a> <strong><a target=\"_blank\" href=\"https:\/\/twitter.com\/MfaEgypt\/status\/1718215751658512435\" style=\"\" rel=\"noopener\">Cleverly<\/a><\/strong>.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>ON THE GROUND-<\/strong><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Israel plunged Gaza into a <\/strong><strong>communications blackout on Friday as it stepped up its bombardment<\/strong>, raising fears <a target=\"_blank\" href=\"https:\/\/twitter.com\/ZayadinH\/status\/1718154248108802231\" style=\"\" rel=\"noopener\">among rights groups<\/a> that the IDF could use it as cover for committing mass atrocities. All phone and internet connections were severed, making communication with the outside world impossible, and preventing ambulances and aid relief teams from coordinating.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Egyptian companies are helping out:<\/strong><a target=\"_blank\" href=\"https:\/\/tinyurl.com\/38cvav2r\" style=\"\" rel=\"noopener\">Orange<\/a>, <a target=\"_blank\" href=\"https:\/\/tinyurl.com\/2s3mmpt6\" style=\"\" rel=\"noopener\">Etisalat<\/a>, and <a target=\"_blank\" href=\"https:\/\/twitter.com\/AsharqbEGY\/status\/1718340005058445319\" style=\"\" rel=\"noopener\">Vodafone<\/a> are all preparing to send mobile stations to the Gaza border to try to boost connectivity in the strip.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Musk to offer Starlink to help aid effort:<\/strong> Elon Musk will make Starlink\u2019s satellite internet services available to \u201cinternationally-recognized aid organizations\u201d in Gaza, he <a target=\"_blank\" href=\"https:\/\/twitter.com\/elonmusk\/status\/1718224153474388433\" style=\"\" rel=\"noopener\">said on X<\/a> (formerly known as Twitter) yesterday.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Cue a predictably furious response:<\/strong>Israel\u2019s communications minister said his office will \u201ccut any ties\u201d with Starlink if it is made available in Gaza. \u201cIsrael will use all means at its disposal to fight this,\u201d he <a target=\"_blank\" href=\"https:\/\/twitter.com\/shlomo_karhi\/status\/1718309963666211328\" style=\"\" rel=\"noopener\">wrote on X<\/a>.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Death toll:<\/strong> More than 8k Palestinians have now been killed by Israeli airstrikes, half of whom are children, the Gaza Health Ministry told <a target=\"_blank\" href=\"https:\/\/www.barrons.com\/news\/health-ministry-in-hamas-run-gaza-says-war-deaths-exceed-8-000-e536edb1\" style=\"\" rel=\"noopener\">AFP<\/a>.Israel\u2019s indiscriminate air campaign has also damaged 178k residential buildings, while more than 260 healthcare facilities and 42 UN buildings have been hit, according to figures released by the <a target=\"_blank\" href=\"https:\/\/tinyurl.com\/56pdxvsm\" style=\"\" rel=\"noopener\">Palestinian Health Ministry<\/a> earlier yesterday.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>US dismisses Gaza death toll after Health Min publishes list of names:<\/strong>Gazan health authorities on Friday <a target=\"_blank\" href=\"https:\/\/t.me\/MOHMediaGaza\/4300\" style=\"\" rel=\"noopener\">published<\/a> the names of more than 6.7k people killed by Israel after US president Joe Biden sought to <a target=\"_blank\" href=\"https:\/\/www.france24.com\/en\/live-news\/20231025-biden-says-israel-must-do-everything-to-protect-civilians\" style=\"\" rel=\"noopener\">discredit the figures<\/a> released by the Health Ministry. Following the release, White House spokesperson John Kirby again <a target=\"_blank\" href=\"https:\/\/www.whitehouse.gov\/briefing-room\/statements-releases\/2023\/10\/26\/press-briefing-by-press-secretary-karine-jean-pierre-national-economic-council-director-lael-brainard-and-nsc-coordinator-for-strategic-communications-john-kirby\/#:~:text=KIRBY%3A%20Well%2C%20we%20all%20know,of%20Health%2C%20at%20face%20value.\" style=\"\" rel=\"noopener\">expressed doubt<\/a> about the figures, telling reporters that \u201cwe can't take anything coming out of Hamas, including the so-called Ministry of Health, at face value.\u201d<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>AID-<\/strong><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Just 84 trucks have made it from Egypt into Gaza since the conflict began on 7 October<\/strong>, the <a target=\"_blank\" href=\"https:\/\/tinyurl.com\/3ctsfrpz\" style=\"\" rel=\"noopener\">Palestinian Red Crescent said<\/a> yesterday. A sixth convoy of 10 trucks crossed into the besieged enclave yesterday carrying food, water and medical supplies, but no fuel. Israel is preventing fuel from entering the strip, driving hospitals to collapse and preventing bakeries and the desalination plant from operating, exacerbating food and water shortages.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Israel obstructing aid entry, says Egypt:<\/strong> The humanitarian relief effort is facing \u201cmajor logistical problems\u201d because of Israeli demands to search the cargo, Egypt\u2019s Foreign Ministry <a target=\"_blank\" href=\"https:\/\/tinyurl.com\/36usm4x2\" style=\"\" rel=\"noopener\">said<\/a> yesterday. Trucks are having to travel 100km to the Nitsana crossing on the Egypt-Israel border for inspection by Israeli officials, causing aid delivery to be \u201csignificantly delayed,\u201d the ministry said.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>And the bombing of Rafah isn\u2019t stopping:<\/strong> Egyptian state broadcaster Al Qahera News <a target=\"_blank\" href=\"https:\/\/tinyurl.com\/ms787bs4\" style=\"\" rel=\"noopener\">reported on Friday<\/a> that Israeli jets again bombed the Rafah crossing. This is the fifth time the border has been struck by the IDF.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Guterres follows up with El Sisi on aid:<\/strong>El Sisi discussed the relief efforts with UN Secretary-General Antonio Guterres over the phone yesterday, <a target=\"_blank\" href=\"https:\/\/tinyurl.com\/ycy86uwy\" style=\"\" rel=\"noopener\">Ittihadiya<\/a> said. The UN chief held talks with El Sisi in Cairo earlier this month and traveled to the Rafah crossing.<\/p>\n\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/abdel-fattah-el-sisi\/\">Abdel Fattah El Sisi<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/cit\/\">CIT<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/etisalat\/\">Etisalat<\/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\/jordan\/\">Jordan<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/orange-egypt\/\">Orange Egypt<\/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\/un\/\">UN<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/un-general-assembly\/\">UN General Assembly<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/us\/\">US<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/vodafone-egypt\/\">Vodafone Egypt<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/war-watch\/\">war watch<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                    <\/div>\n    <\/div>\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"608953\" 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=\"608953\">\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\">Energy<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2023\/10\/29\/eni-says-it-will-soon-resume-lng-exports-from-egypt-plus-another-china-energy-project-in-the-works\/\">\r\n                            Eni says it will soon resume LNG exports from Egypt. Plus: Another China Energy project 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\/29\/eni-says-it-will-soon-resume-lng-exports-from-egypt-plus-another-china-energy-project-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\/29\/eni-says-it-will-soon-resume-lng-exports-from-egypt-plus-another-china-energy-project-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\/29\/eni-says-it-will-soon-resume-lng-exports-from-egypt-plus-another-china-energy-project-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=Eni says it will soon resume LNG exports from Egypt. Plus: Another China Energy project in the works.&url=https:\/\/enterpriseam.com\/egypt\/2023\/10\/29\/eni-says-it-will-soon-resume-lng-exports-from-egypt-plus-another-china-energy-project-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\/29\/eni-says-it-will-soon-resume-lng-exports-from-egypt-plus-another-china-energy-project-in-the-works\/&title=Eni says it will soon resume LNG exports from Egypt. Plus: Another China Energy project 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=Eni+says+it+will+soon+resume+LNG+exports+from+Egypt.+Plus%3A+Another+China+Energy+project+in+the+works.+https%3A%2F%2Fenterpriseam.com%2Fegypt%2F2023%2F10%2F29%2Feni-says-it-will-soon-resume-lng-exports-from-egypt-plus-another-china-energy-project-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\/29\/eni-says-it-will-soon-resume-lng-exports-from-egypt-plus-another-china-energy-project-in-the-works\/\">\r\n                    <div class=\"photo photo--above\">\r\n                        <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2023\/9\/1599.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"608954\" data-permalink=\"https:\/\/enterpriseam.com\/egypt\/2023\/10\/29\/eni-says-it-will-soon-resume-lng-exports-from-egypt-plus-another-china-energy-project-in-the-works\/1599-jpg-3\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2023\/9\/1599.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"1599.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2023\/9\/1599.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2023\/9\/1599.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-608953\" class=\"content-area-description single-story post-608953 post type-post status-publish format-standard has-post-thumbnail hentry category-energy tag-chevron tag-china tag-china-energy tag-energy tag-eni tag-enterpriseam tag-israel tag-israel-palestine-conflict tag-leviathan tag-oil-and-gas tag-oil-ministry tag-renewables tag-tamar 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\/.eba7047a-6f63-4f6d-b814-6fa4840b1fb9.mp3\"><\/audio><\/figure><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"> <strong>Italian ener<\/strong><strong>gy <\/strong><strong>giant Eni expects to resume LNG exports from Egypt <\/strong><strong>when seasonal demand eases<\/strong> even as Israel\u2019s war in Gaza curbs our imports of Israeli gas, Eni\u2019s deputy COO for natural resources Cristian Signoretto said on an earnings call, according to <a target=\"_blank\" href=\"https:\/\/www.bloomberg.com\/news\/articles\/2023-10-27\/eni-sees-egypt-s-lng-exports-resuming-when-local-demand-slumps#xj4y7vzkg\" style=\"\" rel=\"noopener\">Bloomberg<\/a>. \u201cConsumption in [Egypt] is decreasing substantially due to the normal seasonal effect \u2026 we will see exports resuming once this effect will be notable,\u201d he said.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>ICYMI- <\/strong>Egypt has barely exported any LNG since the start of the summer due to <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/846ecdd4-0a16-40f5-8c1e-ef52f3265a06\" style=\"\" rel=\"noopener\">declining local<\/a><a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/846ecdd4-0a16-40f5-8c1e-ef52f3265a06\" style=\"\" rel=\"noopener\">production<\/a> and rising domestic demand. These two factors together have put pressure on local supply and triggered months of <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/7db6d0ec-6a2c-429f-b240-a34fa57dfddf\" style=\"\" rel=\"noopener\">daily blackouts<\/a> across much of the country. Shipping data show that Egypt has exported just two cargoes this month.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>This has dealt a blow to exports:<\/strong>The value of the country\u2019s LNG exports <a target=\"_blank\" href=\"https:\/\/twitter.com\/EconomyPlusAR\/status\/1717162988979790182\" style=\"\" rel=\"noopener\">fell almost 60% y-o-y<\/a> to USD 2.3 bn during the first seven months of the year. Shipments of Egyptian gas to Europe have fallen to 2% of the continent\u2019s total imports so far this year, down from 4% in 2022. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Gaza war throws another wrench into the works: <\/strong>Egypt has seen its imports of Israeli gas <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/4b815416-4098-4b11-a75f-df31f6c9d58e\" style=\"\" rel=\"noopener\">curbed by 20%<\/a> after Chevron suspended production at its Tamar field.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Chevron is shipping us less gas than we\u2019ve contracted:<\/strong> That\u2019s according to Chevron CFO Pierre Breber, who told <a target=\"_blank\" href=\"https:\/\/www.bloomberg.com\/news\/articles\/2023-10-27\/chevron-prioritizes-israeli-gas-deliveries-amid-war-cfo-says#xj4y7vzkg\" style=\"\" rel=\"noopener\">Bloomberg<\/a> that the company is increasing production at Leviathan to offset the loss of Tamar. \u201cWe continue to supply Jordan customers and we continue to supply part of our Egyptian contracts, but not all of our contracts for our Egyptian customers.\u201d<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>CHINA ENERGY WANTS TO SET UP HYDRO POWER PLANT<\/strong><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Another China Energy project brewing: <\/strong>China\u2019s state-owned China Energy will start working on feasibility studies for a 2-GW <a target=\"_blank\" href=\"https:\/\/www.energy.gov\/eere\/water\/pumped-storage-hydropower\" style=\"\" rel=\"noopener\">pumped hydroelectric energy storage<\/a> plant under an MoU inked with the Electricity Ministry, according to <a target=\"_blank\" href=\"https:\/\/tinyurl.com\/38s72yub\" style=\"\" rel=\"noopener\">a ministry statement<\/a>. The project will be established under a build-own-operate contract, the statement said, without giving any details regarding the value or timeline of the project. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>China Energy loves Egypt: <\/strong>Earlier this month, the company <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/4c54bfd4-d4fc-43ff-8bed-bbaf36445938\" style=\"\" rel=\"noopener\">inked a framework agreement<\/a> with the SCZone to set up a USD 6.75 bn green hydrogen plant that could produce some 1.2 mn tons of green ammonia and 210k tons of green hydrogen each year. <\/p>\n\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/chevron\/\">Chevron<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/china\/\">China<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/china-energy\/\">China Energy<\/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\/eni\/\">Eni<\/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\/leviathan\/\">Leviathan<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/oil-and-gas\/\">oil and gas<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/oil-ministry\/\">Oil Ministry<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/renewables\/\">renewables<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/tamar\/\">Tamar<\/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=\"608955 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=\"608955\">\r\n            \r\n            <div class=\"story__body\">\r\n\r\n                <a href=\"https:\/\/enterpriseam.com\/egypt\/2023\/10\/29\/608955\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-608955\" class=\"content-area-description single-story post-608955 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:\/\/efghldg.com\/\" target=\"_blank\" rel=\"noopener\"><img data-recalc-dims=\"1\" decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/ads\/imgs\/81.jpg?ssl=1\"><\/a><\/span><\/p>\n\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"608956\" 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=\"608956\">\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\">Economy<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2023\/10\/29\/citigroup-turns-bullish-on-egyptian-debt\/\">\r\n                            Citigroup turns bullish on Egyptian debt on our newfound geopolitical importance in finance negotiations                        <\/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\/29\/citigroup-turns-bullish-on-egyptian-debt\/\" target=\"_blank\">\n                    Open in new tab                    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data-permalink=\"https:\/\/enterpriseam.com\/egypt\/2023\/10\/29\/citigroup-turns-bullish-on-egyptian-debt\/1353-jpg-2\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2023\/10\/1353.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"1353.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2023\/10\/1353.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2023\/10\/1353.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-608956\" class=\"content-area-description single-story post-608956 post type-post status-publish format-standard has-post-thumbnail hentry category-economy tag-bonds tag-capital-markets tag-citigroup tag-economy tag-enterpriseam tag-financial-markets tag-imf tag-lazard 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\/.25f9e33f-0dc3-41a8-921b-dd3bdd9c661c.mp3\"><\/audio><\/figure><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"> <strong>Citigroup likes Egyptian debt: <\/strong>Bulge bracket stalwart Citigroup thinks our geopolitical importance (we\u2019re \u2018too big to fail\u2019) and an accelerating privatization program mean it is worth taking a punt on our USD-denominated debt, <a target=\"_blank\" href=\"https:\/\/www.bloomberg.com\/news\/articles\/2023-10-26\/citigroup-sees-egypt-s-clout-in-funding-talks-boosting-bonds\" style=\"\" rel=\"noopener\">Bloomberg<\/a> writes, picking up on a Citi note by strategists Nikola Apostolov and Luis Costa. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Too important to fail: <\/strong>\u201cWhile geopolitical risks are likely to weigh on the region in the coming months, in our view Egypt\u2019s geostrategic position may reinforce its bargaining power with its multilateral and Gulf Cooperation Council creditors and catalyze increased new financing,\u201d Apostolov and Costa write.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>\u201cEgypt sovereign risk sentiment might be at an inflection point,\u201d<\/strong> they note, despite recent <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/281327fe-e0f6-4ae2-b4e3-7cc9106b5b6d\" style=\"\" rel=\"noopener\">sovereign credit downgrades<\/a> and delays in the IMF\u2019s review of our USD 3 bn assistance program. Citi is going overweight on Egypt, Bloomberg\u2019s Mirette Magdy reports, \u201cwhile reducing its exposure\u201d to underperforming Jordanian debt. The bank is recommending Egyptian bonds maturing in 2031 and 2050. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Egypt\u2019s USD debt has been the region\u2019s best performer since the outbreak of violence <\/strong><strong>in Palestine and Israel on 7 October<\/strong>, according to the business information service. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>But, there\u2019s a caveat: <\/strong>Regional escalation of the war on Gaza or the failure of talks to secure additional funding wouldn\u2019t be positive for our debt, Citigroup warned.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>LAZARD ISN\u2019T AS BULLISH-<\/strong><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Wealth managers at Lazard are investing an \u201cunusually low\u201d portion of their assets in <\/strong><strong>high-yield bonds from emerging markets<\/strong>, describing debt in Egypt, Argentina, Kenya, and Nigeria as \u201cof particular concern,\u201d it said in a <a target=\"_blank\" href=\"https:\/\/www.lazardassetmanagement.com\/gl\/research-insights\/market-updates\/fixed-income-viewpoints\/october-2023\" style=\"\" rel=\"noopener\">statement<\/a> this month. The firm noted the <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/1c9e3a38-8352-486a-a420-3a8673d38ecc\" style=\"\" rel=\"noopener\">surge in US bond yields<\/a> and geopolitical uncertainty amid Israel\u2019s war on Gaza as factors placing pressure on the EM asset class. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Sentiment is a pretty important gauge to watch right now: <\/strong>The government is reportedly <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/cd3e36a4-25a3-4129-9e86-f88ce45ca113\" style=\"\" rel=\"noopener\">seeking<\/a> to increase its USD 3 bn loan program with the IMF to more than USD 5 bn, and there are growing expectations that the UAE and Saudi Arabia will at least roll over some USD 5 bn worth of deposits they have at the central bank. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Next to play the \u201cEgypt sentiment\u201d game: Fitch.<\/strong> The ratings agency is set to weigh in on 3 November, following <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/3c9d2065-c5ad-456f-adb1-867053c60a70\" style=\"\" rel=\"noopener\">S&P Global<\/a> (which downgraded us last week), citing FX shortages and rising uncertainties about the sustainability of our debt sustainability, and <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/6fce3ee3-016d-412b-be92-c47ec2ae0e72\" style=\"\" rel=\"noopener\">Moody\u2019s<\/a> <strong>.<\/strong><\/p>\n\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/bonds\/\">Bonds<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                           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href=\"https:\/\/enterpriseam.com\/egypt\/tag\/lazard\/\">Lazard<\/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=\"608958\" 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=\"608958\">\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\">ENTERPRISE FINANCE FORUM<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2023\/10\/29\/nbfi-players-say-theres-no-bubble-about-to-burst\/\">\r\n                            NBFI players say there\u2019s no bubble about to burst                        <\/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\/29\/nbfi-players-say-theres-no-bubble-about-to-burst\/\" 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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data-image-title=\"960.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2023\/10\/960.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2023\/10\/960.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-608958\" class=\"content-area-description single-story post-608958 post type-post status-publish format-standard has-post-thumbnail hentry category-enterprise-finance-forum tag-amro-abouesh tag-contact-financial tag-enterprise-finance-forum tag-enterpriseam tag-gb-capital tag-hazem-moussa tag-non-banking-financial-services tag-tamer-elemary tag-tanmeyah 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\/.a480ddf0-214f-4e6f-b838-c84dc851a1ea.mp3\"><\/audio><\/figure><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong> Consolidate or go bust \u2014 is Egypt\u2019s NBFI industry a bubble that\u2019s about to burst?<\/strong>The past five to seven years has witnessed an explosive rise of non-bank financial services in Egypt. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>We brought together a panel of experts from Egypt\u2019s NBFI industry to discuss the current landscape during the Enterprise Finance Forum.<\/strong> Joining us were <strong>Hazem Moussa<\/strong> (co-founder and chairman of Contact Financial Holding), <strong>Amro Abouesh<\/strong> (who founded and led microfinance player Tanmeyah, and who now leads Maseera), and <strong>Tamer Elemary<\/strong> (CEO of GB Capital).<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Setting the scene:<\/strong> There is considerable overlap between banks and NBFIs as consumer lenders, Moussa said. \u201cNBFIs are an extension of the [banking] system and a core part of the development of the market. Egypt has a low banking concentration and very low credit mark, so NBFIs can fill the gap to reach more people in a different way and help banks extend their services and their balance sheets,\u201d he added. \u201c[They] should work together to support each other, it\u2019s one ecosystem.\u201d<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Customers are led by need:<\/strong> \u201cWhen you're looking at the larger corporate side of the equation, [banks and NBFIs] are competing for maybe under 200 companies out there in the market. When you get to the consumer side of the equation, it's probably quite complementary,\u201d said Elemary. NBFIs have a chance to extend into geographies and certain sectors of the consumer business that banks don\u2019t want to play in \u2014 the choice is up to the customer with considerations given to reputation, fees, rates, timing needs and pace among other things, he added.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Cooperation, not competition:<\/strong> Banks are the primary providers of funding to non-bank financial institutions \u2014 and so a major reason why the sector has grown so fast, Abouesh said. \u201cMost banks have an NBFI arm or are venturing into digital banking as we are addressing the same target. Securitization provides one avenue for cooperation, although it depends on who buys the securities. If you\u2019re securitizing to a bank, it\u2019s the same thing \u2014 different books, but the same entity. You can achieve diversification on the funding source when it comes to securitization by allocating assets on different types of institutions.\u201d <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The case for overlending<\/strong>: \u201cThere\u2019s a credit market cycle that people must be aware of,\u201d Abouesh said. The NBFI market has grown, but players are cramming into a small space with vanilla offerings to sell money quick, he explained. \u201cWhat happens in this situation is there have been valuations for NBFIs, and it drew the attention of a lot more money wanting to come in with a very high level of overconfidence in the market and that everything will sell,\u201d Abouesh said. This leads to oversupply and multiple lending to the same borrower. \u201cIn microfinance there are at least two loans per borrower. The CAGR of growth \u2014 the measurement of future economic activity that demonstrates the potential for rapid growth \u2014 on the microfinance outstanding portfolio in the past six or seven years is tenfold that of the active borrowers,\u201d he said. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Does this lead to consolidation? <\/strong>\u201cThere is a correction that's going to happen, and it's happening already. The overfunding that was available in the market recently has made too many players extend too many loans very quickly and this signals some form of correction. Consolidation is one way, bankruptcy is another \u2014 or a combination of both,\u201d Abouesh said. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Not by choice: <\/strong>\u201cConsolidation can come when you have a mature market with companies that have grown well organically and are now struggling to continue at the same rate, or when you have a stressed market impacted by pressure from a liquidity standpoint. I think that\u2019s what we are probably seeing \u2014 not only in Egypt, but on a global level,\u201d Elemary said. \u201cIt\u2019s a case of consolidation not by choice, but because of the market dynamics. Small companies in particular are going to have to find some way to get bailed out. They can look to bankruptcy or M&amp;A becomes one of those ways that it happens. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Are NBFIs taking on too much risk?<\/strong> The number of people with access to credit remains very small, Moussa said. In terms of risk, those that struggle may not have the right strategy. \u201cIt really depends on what your strategy is in terms of market penetration \u2014 are you looking at the customer or a product, are you looking at trying to maximize your value or are you building more long term?\u201d he asked.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>There\u2019s room to grow, but you need to innovate:<\/strong> \u201cNow is the time to be more innovative and work harder to be able to customize and tailor make products that serve people and tackle the rest of the market niches,\u201d said Abouesh. While the market is massively underserved, it is congested as NBFIs have flooded into parts of the market where traditional banks were not reaching the majority of people, he added. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>SMEs hold untapped potential:<\/strong> \u201cSMEs are such a large market and the market is completely untapped. So what better combination for a business plan to grow?\u201d Elemary said. Plus, this wouldn\u2019t be stepping on the toes of banks. \u201cI don\u2019t think we're doing anything necessarily to bump into each other on the SMEs side, being that it's a very nascent space,\u201d he added.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Take a hybrid approach:<\/strong> \u201cWe used to think about SMEs as companies that behave more like consumers because they were owned by an individual and we tended to put the SME businesses in the consumer divisions. Coming into lending now, I see that it needs to be a little bit more of a hybrid. We need to approach the SMEs with a consumer mindset, but we need to assess the SMEs with more of a corporate perspective in terms of creditworthiness,\u201d Elemary said.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Thinking ahead:<\/strong> \u201cA paradigm shift in technology has affected people's expectations of the kind of service that they need,\u201d Abouesha said. The generations coming up in the market don\u2019t expect to physically go to a bank branch to conduct transactions. \u201cWe need to develop the right kind of empathy level for client needs, whether or not they know they need a service that exists to fulfill those needs.\u201d<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Serving the underbanked:<\/strong> \u201cTechnology has provided a lot of analytics that were not possible before,\u201d Abouesha said. New innovations in tech allow made-to-fit services to be accessible and delivered to the low income groups, he explained. \u201cBanks never took private banking services to low income groups, it was simply too expensive. But now the cost of client acquisition is dramatically cut by the availing of technology,\u201d he added.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><img data-recalc-dims=\"1\" decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/ads\/imgs\/44.jpg?ssl=1\"><\/p>\n\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\/amro-abouesh\/\">Amro Abouesh<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/contact-financial\/\">Contact Financial<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/enterprise-finance-forum\/\">Enterprise Finance Forum<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/gb-capital\/\">GB Capital<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/hazem-moussa\/\">Hazem Moussa<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/non-banking-financial-services\/\">non-banking financial services<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/tamer-elemary\/\">Tamer Elemary<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" 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type-post status-publish format-standard hentry category-advertiser wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<p><span style=\"font-weight:400;\"><a href=\"https:\/\/www.sodic.com\/SodicSignatureCommunities#THEESTATESResidences\" target=\"_blank\" rel=\"noopener\"><img data-recalc-dims=\"1\" decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2023\/10\/415.jpg?ssl=1\"><\/a><\/span><\/p>\n\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"608961\" 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=\"608961\">\r\n            \r\n                <div class=\"issue-story-header text-center\">\r\n                    <div class=\"index-number\">8<\/div>\r\n\r\n                    <p class=\"f-graphik\">LAST NIGHT\u2019S TALK SHOWS<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2023\/10\/29\/gaza-war-continues-to-top-talk-show-coverage-34-die-in-horrific-accident-on-the-sahrawy\/\">\r\n                            Gaza war continues to top talk show coverage in Egypt + 34 die in horrific accident on Cairo-Alexandria Desert Road                        <\/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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data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2023\/10\/1359.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"1359.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2023\/10\/1359.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2023\/10\/1359.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-608961\" class=\"content-area-description single-story post-608961 post type-post status-publish format-standard has-post-thumbnail hentry category-last-nights-talk-shows tag-enterpriseam tag-israel-gaza-conflict tag-last-nights-talk-shows tag-middle-east-politics tag-un 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\/.ad1c1bf3-c0a2-424f-94ca-7962b9e12feb.mp3\"><\/audio><\/figure><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Talk shows are yet to shift their attention away from the war in Gaza. <\/strong>As we enter week four of the war, the nation\u2019s talking heads continued to chew over the latest developments in Gaza, the fate of its children, and bids for a ceasefire. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The experts weigh in:<\/strong> Maj. Gen. Samir Ragheb joined El Heyaka\u2019s Amr Adib (<a target=\"_blank\" href=\"https:\/\/www.youtube.com\/watch?v=HUEGnkFT05c\" style=\"\" rel=\"noopener\">watch,<\/a><a target=\"_blank\" href=\"https:\/\/www.youtube.com\/watch?v=HUEGnkFT05c\" style=\"\" rel=\"noopener\">runtime: 1:50<\/a>) and Arab League Assistant Secretary-General Hossam Zaki joined Ala Maso\u2019uleey\u2019s Ahmed Moussa (<a target=\"_blank\" href=\"https:\/\/www.youtube.com\/watch?v=4e7USJ3p1Ws\" style=\"\" rel=\"noopener\">watch, runtime: 5:50<\/a>) to bring us the latest developments. Meanwhile, Kelma Akhira\u2019s Lamees El Hadidi interviewed UNICEF Egypt\u2019s Jeremy Hopkins (<a target=\"_blank\" href=\"https:\/\/www.youtube.com\/watch?v=WwzL2keEs90\" style=\"\" rel=\"noopener\">watch, runtime: 8:43<\/a>) on what children in Gaza are going through.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Why would Arab nations object to a humanitarian truce in Gaza?<\/strong> Iraq and Tunisia were the only two Arab countries to abstain from voting on a nonbinding resolution calling for a humanitarian truce in Gaza in the UN General Assembly. Iraq later <a target=\"_blank\" href=\"https:\/\/www.thenationalnews.com\/mena\/palestine-israel\/2023\/10\/28\/iraq-blames-technical-fault-for-gaza-ceasefire-vote-mix-up-at-un-general-assembly\/\" style=\"\" rel=\"noopener\">voiced its support<\/a> for the resolution, blaming a \u201ctechnical fault\u201d for making it seem like it had abstained from voting. Tunisia abstained from voting because it doesn\u2019t see the resolution as enough to put an end to the violence in Gaza, Arab League representative to the UN Maged Abdel Fattah told El Hadidi (<a target=\"_blank\" href=\"https:\/\/www.youtube.com\/watch?v=cFhoB12bjs8\" style=\"\" rel=\"noopener\">watch, runtime: 1:33<\/a>).<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The resolution was passed by a vote of 120-14 with 45 abstentions<\/strong>. \u201cThis vote reflects a consensus on the matter,\u201d Abdel Fattah told Masaa DMC (<a target=\"_blank\" href=\"https:\/\/www.youtube.com\/watch?v=ubgUNoD8gXI\" style=\"\" rel=\"noopener\">watch, runtime: 7:45<\/a>). Fattah added that \u201cIt reflects the anger of the international community about the ongoing situation.\u201d Al Hayah Al Youm (<a target=\"_blank\" href=\"https:\/\/www.youtube.com\/watch?v=eT8RTklznSE\" style=\"\" rel=\"noopener\">watch, runtime: 7:45<\/a>) also had coverage. We have the details in the news well, above. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Also on the airwaves last night: Tragic car crash leaves 34 dead: <\/strong>A deadly collision on the Cairo-Alexandria Desert Road yesterday resulted in 34 casualties and left 64 injured, Health Ministry spokesperson Hossam Abdel Ghaffar told Masaa DMC (<a target=\"_blank\" href=\"https:\/\/www.youtube.com\/watch?v=4a1kfMYsCRY\" style=\"\" rel=\"noopener\">watch, runtime: 3:28<\/a>). The collision happened between a number of vehicles during a period of heavy fog that lowered visibility, former interior ministry official Medhat Koraitam told Ala Maso\u2019uleety (<a target=\"_blank\" href=\"https:\/\/www.youtube.com\/watch?v=oNl7jAEzKrQ\" style=\"\" rel=\"noopener\">watch, runtime: 10:08<\/a>). El Heyaka also had the story (<a target=\"_blank\" href=\"https:\/\/www.youtube.com\/watch?v=A7nL13ZYhBA\" style=\"\" rel=\"noopener\">watch, runtime: 13:27<\/a>).<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The deaths on the Sahrawy got extensive coverage in the international press: <\/strong><a target=\"_blank\" href=\"https:\/\/www.reuters.com\/world\/middle-east\/some-28-killed-60-injured-egypt-car-crash-state-media-2023-10-28\/\" style=\"\" rel=\"noopener\">Reuters<\/a> | <a target=\"_blank\" href=\"https:\/\/apnews.com\/article\/egypt-cairo-alexandria-car-pileup-accident-96046d967524b88d61819e721e609174\" style=\"\" rel=\"noopener\">Associated Press<\/a> | <a target=\"_blank\" href=\"https:\/\/www.bbc.com\/news\/world-middle-east-67248455\" style=\"\" rel=\"noopener\">BBC<\/a> | <a target=\"_blank\" href=\"https:\/\/www.thenationalnews.com\/mena\/egypt\/2023\/10\/28\/scores-killed-in-egypt-motorway-pile-up-in-pictures\/\" style=\"\" rel=\"noopener\">The National<\/a> | <a target=\"_blank\" href=\"https:\/\/english.news.cn\/20231029\/5bf9c1a4e23c47c190e3531f80a697bf\/c.html\" style=\"\" rel=\"noopener\">Xinhua<\/a>.<\/p>\n\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/israel-gaza-conflict\/\">Israel-Gaza conflict<\/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 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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=\"608964\">\r\n            \r\n                <div class=\"issue-story-header text-center\">\r\n                    <div class=\"index-number\">9<\/div>\r\n\r\n                    <p class=\"f-graphik\">Also on our Radar<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2023\/10\/29\/auto-spare-parts-importer-wants-to-set-up-car-engine-filter-factory-plus-egyptian-swiss-unveils-eur-6-mn-expansion-plan\/\">\r\n                            Egyptian auto spare parts importer wants to set up car engine filter factory                        <\/a>\r\n                    <\/h3>\r\n\r\n                    \r\n\t\t\t\t\t\n<div class=\"cta\">\n    <div class=\"cta__btn share-dropdown-cta 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PLUS: Egyptian Swiss unveils EUR 6 mn expansion plan&url=https:\/\/enterpriseam.com\/egypt\/2023\/10\/29\/auto-spare-parts-importer-wants-to-set-up-car-engine-filter-factory-plus-egyptian-swiss-unveils-eur-6-mn-expansion-plan\/\">\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\/29\/auto-spare-parts-importer-wants-to-set-up-car-engine-filter-factory-plus-egyptian-swiss-unveils-eur-6-mn-expansion-plan\/&title=Auto spare parts importer wants to set up car engine filter factory. PLUS: Egyptian Swiss unveils EUR 6 mn expansion plan\">\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=Auto+spare+parts+importer+wants+to+set+up+car+engine+filter+factory.+PLUS%3A+Egyptian+Swiss+unveils+EUR+6+mn+expansion+plan+https%3A%2F%2Fenterpriseam.com%2Fegypt%2F2023%2F10%2F29%2Fauto-spare-parts-importer-wants-to-set-up-car-engine-filter-factory-plus-egyptian-swiss-unveils-eur-6-mn-expansion-plan%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\/29\/auto-spare-parts-importer-wants-to-set-up-car-engine-filter-factory-plus-egyptian-swiss-unveils-eur-6-mn-expansion-plan\/\">\r\n                    <div class=\"photo photo--above\">\r\n                        <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2023\/10\/1344.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"608965\" data-permalink=\"https:\/\/enterpriseam.com\/egypt\/2023\/10\/29\/auto-spare-parts-importer-wants-to-set-up-car-engine-filter-factory-plus-egyptian-swiss-unveils-eur-6-mn-expansion-plan\/1344-jpg-2\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2023\/10\/1344.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"1344.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2023\/10\/1344.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2023\/10\/1344.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-608964\" class=\"content-area-description single-story post-608964 post type-post status-publish format-standard has-post-thumbnail hentry category-also-on-our-radar tag-air-cairo tag-also-on-our-radar tag-automotive tag-aviation tag-egyptian-swiss-group tag-enterpriseam tag-manufacturing tag-sea-port tag-tourism 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\/.0cd3ebe0-1185-4500-ae39-59321c691074.mp3\"><\/audio><\/figure>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>INVESTMENT-<\/strong><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>#1- Sea Port wants to set up a USD 30 mn car engine filter factory: <\/strong>Auto spare parts importer <a target=\"_blank\" href=\"https:\/\/seaport.com.eg\/site\/\" style=\"\" rel=\"noopener\">Sea Port<\/a> will invest at least USD 30 mn to build an car engine filter factory in Tenth of Ramadan as part of its efforts to localize its operations, the company\u2019s vice chairman for strategies and business development, Ibrahim Mostafa, told <a target=\"_blank\" href=\"https:\/\/www.alborsaanews.com\/2023\/10\/26\/1727037\" style=\"\" rel=\"noopener\">Al Borsa<\/a> last week. The company hopes to receive a golden license to establish the factory before the end of the year, enabling it to start construction in 1Q 2024 and start rolling out products in 4Q 2024, he said. The factory will have three production lines with a production capacity of 3-5 mn filters a year. Sea Port has been operating in the Egyptian market since 2009, importing and distributing spare parts for European trucks. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>#2- Egyptian Swiss Group unveils EUR 6 mn expansion plan: <\/strong>Egyptian pasta-maker Egyptian Swiss Group is looking to invest some EUR 5-6 mn into developing new products and increasing its production capacity, with a EUR 1 mn investment earmarked for next year, <a target=\"_blank\" href=\"https:\/\/www.alborsaanews.com\/2023\/10\/25\/1727262\" style=\"\" rel=\"noopener\">Al Borsa<\/a> reported last week, citing General Manager Ahmed El Sebaie. The company wants to step into the biscuits and cakes market as well as expand its mills, which are currently running at 70% capacity. El Sebaie didn\u2019t disclose a time period for the rest of the planned investment, explaining that the company is waiting for the \u201cright time.\u201d <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>TOURISM-<\/strong><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Air Cairo adds new routes between Red Sea resorts and Russia:<\/strong> Low-cost air carrier Air Cairo announced new flights between a number of Russian cities and Egypt\u2019s Red Sea resorts, the Civil Aviation Ministry said in <a target=\"_blank\" href=\"https:\/\/bit.ly\/46Po6nj\" style=\"\" rel=\"noopener\">a statement<\/a> last week. The budget airline began operating flights between Sharm El Sheikh and Moscow, Saint Petersburg, and Yekaterinburg on Thursday, and will launch new routes between Hurghada and the three cities in mid-November.<\/p>\n\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/air-cairo\/\">Air Cairo<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/also-on-our-radar\/\">ALSO ON OUR RADAR<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/automotive\/\">automotive<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" 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\/egyptian-swiss-group\/\">Egyptian Swiss Group<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/manufacturing\/\">Manufacturing<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/sea-port\/\">Sea Port<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/tourism\/\">tourism<\/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=\"608966\" class=\"issue-section markets\">\n<div class=\"issue-section__content\">\n<div class=\"stories\">            <!-- Show divider before story section -->\r\n        <div \r\n            class=\"\r\n                story-section            \"\r\n            id=\"608966\">\r\n            \r\n                <div class=\"issue-story-header text-center\">\r\n                    <div class=\"index-number\">10<\/div>\r\n\r\n                    <p class=\"f-graphik\">PLANET FINANCE<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2023\/10\/29\/sp-500-slips-into-correction-us-stocks-are-looking-at-their-worst-october-since-2018\/\">\r\n                            S&amp;P 500 slips into correction + US stocks are looking at their worst October since 2018                        <\/a>\r\n                    <\/h3>\r\n\r\n                    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navigator.clipboard.writeText('https:\/\/enterpriseam.com\/egypt\/2023\/10\/29\/sp-500-slips-into-correction-us-stocks-are-looking-at-their-worst-october-since-2018\/')\">\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\/29\/sp-500-slips-into-correction-us-stocks-are-looking-at-their-worst-october-since-2018\/\">\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=S&#038;P 500 slips into correction + US stocks are looking at their worst October since 2018&url=https:\/\/enterpriseam.com\/egypt\/2023\/10\/29\/sp-500-slips-into-correction-us-stocks-are-looking-at-their-worst-october-since-2018\/\">\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\/29\/sp-500-slips-into-correction-us-stocks-are-looking-at-their-worst-october-since-2018\/&title=S&#038;P 500 slips into correction + US stocks are looking at their worst October since 2018\">\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=S%26%23038%3BP+500+slips+into+correction+%2B+US+stocks+are+looking+at+their+worst+October+since+2018+https%3A%2F%2Fenterpriseam.com%2Fegypt%2F2023%2F10%2F29%2Fsp-500-slips-into-correction-us-stocks-are-looking-at-their-worst-october-since-2018%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\/29\/sp-500-slips-into-correction-us-stocks-are-looking-at-their-worst-october-since-2018\/\">\r\n                    <div class=\"photo photo--above\">\r\n                        <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2023\/10\/1347.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"608967\" data-permalink=\"https:\/\/enterpriseam.com\/egypt\/2023\/10\/29\/sp-500-slips-into-correction-us-stocks-are-looking-at-their-worst-october-since-2018\/1347-jpg-2\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2023\/10\/1347.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"1347.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2023\/10\/1347.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2023\/10\/1347.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-608966\" class=\"content-area-description single-story post-608966 post type-post status-publish format-standard has-post-thumbnail hentry category-planet-finance tag-anthropic tag-enterpriseam tag-financial-markets tag-google tag-planet-finance tag-sp-500 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\/.08d383e1-e610-423e-ac18-2faf3d174731.mp3\"><\/audio><\/figure><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"> <strong>Fears of further rate hikes, geopolitical tension push US stocks into correction: <\/strong>The escalations in Gaza, soaring bond yields, and disappointing 3Q earnings have triggered a \u201cslow-motion selloff\u201d in US stocks that has pushed the benchmark S&amp;P 500 into correction after losing more than 10% from its peak in July, the <a target=\"_blank\" href=\"https:\/\/www.ft.com\/content\/839d42e1-53ce-4f24-8b22-342ab761c0e4\" style=\"\" rel=\"noopener\">Financial Times<\/a> wrote. This comes only days after the tech-dominated Nasdaq Composite slipped into correction following a series of less-than-optimistic earnings from tech giants. This is putting US stocks on course or their worst October in five years, according to <a target=\"_blank\" href=\"https:\/\/www.bloomberg.com\/news\/articles\/2023-10-27\/worst-october-in-five-years-is-chasing-stock-bulls-out-in-droves#xj4y7vzkg\" style=\"\" rel=\"noopener\">Bloomberg<\/a>.<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Benefiting from the volatility are safe haven assets<\/strong>, like gold which is on track for its biggest monthly gain since 2020, breaking the USD 2k \/ oz threshold over the weekend, according to <a target=\"_blank\" href=\"https:\/\/www.bloomberg.com\/news\/articles\/2023-10-27\/gold-hits-2-000-as-israel-hamas-clash-raises-safe-haven-allure\" style=\"\" rel=\"noopener\">Bloomberg<\/a>. Investors have also been looking at the USD \u2014 which saw <a target=\"_blank\" href=\"https:\/\/www.reuters.com\/markets\/currencies\/dollar-eyes-weekly-gain-us-economy-stays-robust-2023-10-27\/\" style=\"\" rel=\"noopener\">a 0.4% increase<\/a> against basket currencies over the past week \u2014 and <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/a8283b46-9606-47dc-af53-fe7fbd0570ae\" style=\"\" rel=\"noopener\">government bonds<\/a> \u2014 which last week saw yields jump to a 16-year high.<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Don\u2019t lose all hope: <\/strong>\u201cSentiment is generally negative . . . but stress metrics haven\u2019t moved that much, it\u2019s been relatively orderly,\u201d Citigroup\u2019s Stuart Kaiser said. \u201cIt\u2019s easy to get distracted by some of the moving parts \u2026 but the bottom line is that the underlying macro picture is still strong.\u201d<\/p><p><a target=\"_blank\" id=\"t.8d7cfc52cf93527f9d22184f27f1ee684076a25d\" rel=\"noopener\"><\/a><a target=\"_blank\" id=\"t.0\" rel=\"noopener\"><\/a> <\/p><div class=\"stock-ticker-panel\">\n<table class=\"table stock-ticker-table table-striped markets-table\">\n<tbody>\n<tr class=\"tr-row-up\">\n<td class=\"td-list-up\">\n<p><svg class=\"e-icon e-TypeMarkets11\"><use xlink:href=\"#e-TypeMarkets11\"><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>EGX30 <\/strong><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">23,262<\/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: +59.4%)<\/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\">10,409<\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">-0.9% (YTD: -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>ADX<\/strong><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">9,237<\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">-0.1% (YTD: -9.5%)<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-up\">\n<td class=\"td-list-up\">\n<p><svg class=\"e-icon e-TypeMarkets11\"><use xlink:href=\"#e-TypeMarkets11\"><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>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\">3,787<\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">+0.1% (YTD: +13.5%)<\/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\">4,117<\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">-0.5% (YTD: -7.2%)<\/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>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\">7,291<\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">-0.9% (YTD: -2.2%)<\/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>Euro Stoxx 50<\/strong><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">4,014<\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">-0.9% (YTD: +5.8%)<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-up\">\n<td class=\"td-list-up\">\n<p><svg class=\"e-icon e-TypeMarkets11\"><use xlink:href=\"#e-TypeMarkets11\"><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>Brent crude<\/strong><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">USD 90.48<\/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\">+2.9%<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-up\">\n<td class=\"td-list-up\">\n<p><svg class=\"e-icon e-TypeMarkets11\"><use xlink:href=\"#e-TypeMarkets11\"><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>Natural gas <\/strong>(Nymex)<\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">USD 3.48<\/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-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 1,998.50<\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">+0.1%<\/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 34,186<\/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\">+1.0% (YTD: 106.6%)<\/p>\n<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<\/div><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>THE CLOSING BELL-<\/strong><\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The EGX30 rose 0.6% at Thursday\u2019s close<\/strong> on turnover of EGP 5.1 bn (122.5% above the 90-day average). Foreign investors were net buyers. The index is up 59.4% YTD.<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>In the green: <\/strong>TMG Holding (+9.3%), Heliopolis Housing (+6.1%) and Palm Hills Development (+5.6%).<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>In the red: <\/strong>Mopco (-6.0%), Abu Qir Fertilizers (-4.4%) and Oriental Weavers (-4.1%).<\/p>\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/anthropic\/\">Anthropic<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/financial-markets\/\">Financial Markets<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/google\/\">Google<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/planet-finance\/\">Planet Finance<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/sp-500\/\">S&amp;P 500<\/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=\"608968\" 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=\"608968\">\r\n            \r\n                <div class=\"issue-story-header text-center\">\r\n                    <div class=\"index-number\">11<\/div>\r\n\r\n                    <p class=\"f-graphik\">Diplomacy<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2023\/10\/29\/egypt-turkey-discuss-freight-line-bilateral-trade-and-cross-border-banks\/\">\r\n                            Egypt, Turkey discuss freight line, bilateral trade, and cross-border banks                        <\/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\/29\/egypt-turkey-discuss-freight-line-bilateral-trade-and-cross-border-banks\/\" 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 two agreed to work to reduce barriers to agricultural trade and to tackle other, unspecified obstacles to trade and investment. The also agreed Cairo and Ankara will look into local currency-denominated trade and opening banks in each other\u2019s country. The Trade Ministry also made reference to the possibility of opening a roll-on, roll-off freight line between the two nations.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>REMEMBER-<\/strong> Egypt wants to boost trade volumes with Turkey by 50% to USD 15 bn in the next five years, the Trade Minister <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/a015ecda-9182-4acf-8e81-1b72a3f2e028\" style=\"\" rel=\"noopener\">said<\/a> in August. There were also rumors from <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/e5817500-ac5a-430e-9f9b-d29ccfaa663b\" style=\"\" rel=\"noopener\">local media<\/a> last week that Egypt and Turkey will likely finalize an agreement to use local currencies for bilateral trade in 2024. This economic and political rapprochement comes only months after the two countries <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/467e7c7c-3c5e-45ce-bc81-70050a95fabf\" style=\"\" rel=\"noopener\">restored<\/a> diplomatic ties and reappointed ambassadors in July, bringing to an end a decade of tensions.<\/p>\n\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/diplomacy\/\">DIPLOMACY<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/egp\/\">EGP<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/egypt-turkey-relations\/\">Egypt-Turkey relations<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/fdi\/\">FDI<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/investment-watch\/\">investment watch<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/logistics\/\">logistics<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/trade\/\">trade<\/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=\"608970\" 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\/29\/608970\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-608970\" class=\"content-area-description single-story post-608970 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>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>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;\">5 November (Sunday): Senate back in session.<\/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:700;\">Signposted to happen some time in November:<\/span><\/p>\n<ul>\n<li><span>Egypt to <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/cd3e36a4-25a3-4129-9e86-f88ce45ca113\" style=\"\">issue Samurai bonds<\/a><\/span><span>.<\/span><\/li>\n<li><span style=\"font-weight:400;\">Bidding deadline for 5 gold mine concessions in the Eastern Desert (TBC).<\/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\">DECEMBER <\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:400;\">1-3 December (Friday-Sunday): Egyptian expats vote in the presidential election.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span>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 style=\"font-weight:400;\">Gov\u2019t expects to finalize stake sale for military-owned fuel retailer Wataniya.<\/span><\/li>\n<li><span style=\"font-weight:400;\">Gov\u2019t expects to finalize sale of Zafarana wind farm<\/span><\/li>\n<li><span>Kenyan trade conference in Egypt.<\/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 style=\"font-weight:400;\">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.<\/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.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:700;\">SEPTEMBER<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span>2-5 September (Monday-Thursday): <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/www.airport-technology.com\/sponsored\/dates-announced-for-egypt-international-airshow-2024\/\" style=\"\">Egypt International Airshow<\/a><\/span><span style=\"font-weight:400;\">, El Alamein International Airport.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span>15 September (Sunday): National holiday in observance of Prophet Muhammad\u2019s birthday (TBC).<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:700;\">OCTOBER<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span>6 October (Sunday): Armed Forces Day.<\/span><\/p>\n\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n","protected":false},"excerpt":{"rendered":"<p>Credit card regs loosened | LNG exports back? | More money | Citigroup loves our debt<\/p>\n","protected":false},"featured_media":608943,"menu_order":0,"template":"","categories":[],"tags":[],"class_list":["post-608942","issue","type-issue","status-publish","has-post-thumbnail","hentry","wpautop","entry"],"acf":{"mongo_id":"dd689978-f6d5-4156-9153-976d7d11a7f4","teaser":"Credit card regs loosened | LNG exports back? | More money | Citigroup loves our debt","photo_url":"https:\/\/ent.news\/2023\/10\/1365.jpg"},"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v27.1 (Yoast SEO v27.1.1) - 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