{"id":609473,"date":"2023-11-06T00:00:00","date_gmt":"2023-11-06T00:00:00","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/?post_type=issue&#038;p=609473"},"modified":"2025-12-17T01:46:51","modified_gmt":"2025-12-17T01:46:51","slug":"egypt-to-privatize-airport-management-madbouly-says","status":"publish","type":"issue","link":"https:\/\/enterpriseam.com\/egypt\/issues\/egypt-to-privatize-airport-management-madbouly-says\/","title":{"rendered":"Egypt to privatize airport management, Madbouly says"},"content":{"rendered":"<section id=\"609475\" 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=\"609475\">\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\/11\/06\/daily-blackouts-may-be-reduced-to-one-hour-on-the-back-off-increased-mazut-and-gas-imports\/\">\r\n                            Daily blackouts may be reduced to one hour on the back off increased mazut and gas imports                        <\/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\/11\/261.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"261.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2023\/11\/261.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2023\/11\/261.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-609475\" class=\"content-area-description single-story post-609475 post type-post status-publish format-standard has-post-thumbnail hentry category-what-were-tracking-today tag-electricity tag-electricity-ministry tag-energy tag-enterpriseam tag-oil-and-gas wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<aside>\t\t\t<div\r\n\t\t\t\t\t\t\t\tclass=\"newspack-popup-container newspack-popup hidden  newspack-inline-popup  newspack-lightbox-no-border   \"\r\n\t\t\t\trole=\"button\"\r\n\t\t\t\ttabindex=\"0\"\r\n\t\t\t\tstyle=\"background-color:#FFFFFF;color:#000\"\r\n\t\t\t\tid=\"id_27645\"\r\n\t\t\t\tdata-segments=\"\"\r\n\t\t\t\tdata-frequency=\"0,0,0,month\"\r\n\t\t\t>\r\n\t\t\t\t\n<div class=\"wp-block-group has-light-gray-background-color has-background\" style=\"padding-top:0px;padding-right:0px;padding-bottom:0px;padding-left:0px\"><div class=\"wp-block-group__inner-container is-layout-constrained wp-container-core-group-is-layout-ef38739e wp-block-group-is-layout-constrained\">\n<div class=\"wp-block-group is-content-justification-center is-nowrap is-layout-flex wp-container-core-group-is-layout-94bc23d7 wp-block-group-is-layout-flex\">\n<p class=\"f-graphik\" style=\"font-size:14px\">Together with<\/p>\n\n\n<div class=\"wp-block-image\">\n<figure class=\"aligncenter size-full\"><img decoding=\"async\" src=\"https:\/\/s3.amazonaws.com\/resources.inktankir.com\/internal\/27482.svg\" alt=\"\" class=\"wp-image-27482\"\/><\/figure>\n<\/div><\/div>\n<\/div><\/div>\n\t\t\t<\/div>\r\n\t\t<\/aside>\n<figure class=\"wp-block-audio mb-0\"><audio controls preload=\"metadata\" src=\"https:\/\/s3.us-east-1.amazonaws.com\/ent.news\/audio\/2023\/11\/.8bbc2f48-4b47-46a5-9a14-d12c656002b4.mp3\"><\/audio><\/figure><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Good morning, wonderful people. <\/strong>We have a couple of pieces of good news with which to kick off this morning\u2019s issue. <\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"> <a id=\"wwtt4\"><\/a> <strong>UP FIRST- The government is going to invite private-sector players to manage the nation\u2019s airports<\/strong>,Prime Minister Moustafa Madbouly <a target=\"_blank\" href=\"https:\/\/tinyurl.com\/y6pxne3r\" style=\"\" rel=\"noopener\">said during a meeting<\/a> on the sidelines of a transport conference in Cairo yesterday. The government is also looking to launch tenders for the operation and management of seaports, dry ports, and public transport lines, the PM said. <\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Foreigners welcome: <\/strong>The PM said the Transport Ministry will lead on the marketing of private management contracts to private-sector players with proven international experience \u2014 and played up Egypt\u2019s role as a natural local logistics hub, according to a <a target=\"_blank\" href=\"https:\/\/tinyurl.com\/49xk9fft\" style=\"\" rel=\"noopener\">cabinet statement<\/a>. <\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><a id=\"wwtt2\"><\/a> <strong>Expect transport and logistics to be in the spotlight again today: <\/strong>Madbouly was speaking at day one of <a target=\"_blank\" href=\"https:\/\/trans-mea.com\" style=\"\" rel=\"noopener\">TransMEA2023<\/a>, a four-day industry conference that wraps up on Wednesday.<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Also yesterday: <\/strong>A number of state-owned transport projects kicked off operations, including the trial run of the <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/608343e2-2810-460d-9b34-fec140a19e76\" style=\"\" rel=\"noopener\">third and final phase of the Metro Line 3<\/a> and the <a target=\"_blank\" href=\"http:\/\/www.nat.gov.eg\/LocationActivity.aspx?id=2089\" style=\"\" rel=\"noopener\">East Nile monorail<\/a> \u2014 a 56-km line extending from Nasr City to the new capital, which will be fully operational next April, cabinet said. Day one also saw the inauguration of a state-owned EGP 500-mn concrete sleepers factory and a control center for the <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/dfceb221-fc3a-4c21-8327-7a7104b86764\" style=\"\" rel=\"noopener\">Beni Suef-Assiut railway line<\/a>. <\/p><hr style=\"height:2px;border-width:0;color:gray;background-color:gray\"><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"> <a id=\"wwtt1\"><\/a> <strong>ALSO GOOD NEWS- We may be going back to only one-hour <\/strong><strong>blackouts thanks to mazut imports and the ramping up of gas imports. <\/strong>Energy supplies are up with the Electricity Ministry importing mazut to feed into the country\u2019s power grid and plans to keep doing so until our natural gas supplies return to normal, a government official confirmed to Enterprise. That comes as we\u2019ve also seen a <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/a295943e-e812-4cd6-9a7c-17fe8bff0426\" style=\"\" rel=\"noopener\">partial restoration<\/a> of Israeli natural gas imports. With energy supplies improving from two weeks ago and the long summer coming to an end, the dreaded planned two-hour long daily power outages have been cut down to one hour, reports <a target=\"_blank\" href=\"https:\/\/www.elbalad.news\/5986240\" style=\"\" rel=\"noopener\">Sada El Balad<\/a>, citing an unnamed Electricity Ministry official. <\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>ICYMI-<\/strong> The country has been experiencing blackouts since July, as the country grapples with a decline in domestic gas production and increased demand from an unusually prolonged summer. Our energy supplies took another hit after Israeli gas imports were disrupted in the wake of the war on Gaza, and <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/a295943e-e812-4cd6-9a7c-17fe8bff0426\" style=\"\" rel=\"noopener\">now stand<\/a> at around 250 or 350 mn cubic feet per day from a pre-war 800 mn cubic feet per day, according to conflicting reports. <\/p><hr style=\"height:2px;border-width:0;color:gray;background-color:gray\"><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>PSA #1- Our friends at Mashreq have consolidated their ESG efforts into a new <\/strong><strong>Climb2Change initiative:<\/strong> Mashreq has launched an environmental, social, and corporate governance (ESG) initiative named Climb2Change, according to <a target=\"_blank\" href=\"https:\/\/ent.news\/2023\/11\/233.pdf\" style=\"\" rel=\"noopener\">a statement (pdf)<\/a> by the financial institution. Under the initiative, Mashreq will continue to offer sustainability-linked financing and maintain its net-zero commitment. It will also launch clean-up expeditions on 14 of the world\u2019s highest mountains in a bid to promote recycling, waste reduction, and environmental preservation, the statement reads.<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>PSA #2- The deadline to apply for the <\/strong><strong><a target=\"_blank\" href=\"https:\/\/www.chicagobooth.edu\/executiveeducation\/programs\/management\/executive-program-el-gouna\" style=\"\" rel=\"noopener\">Chicago Booth Executive Program<\/a><\/strong><strong> in El Gouna is <\/strong><strong>Sunday 11 February 2024:<\/strong> The two-week program will kick off on 22 June 2024 and offer executives from the Egyptian public and private sector the skills to help them \u201cbecome a better leader for your organization and support Egypt\u2019s growth in the years ahead.\u201d<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>PSA #3- Clocks changed in much of the United States and Canada yesterday<\/strong>, so make sure you check to see the time difference before hopping on that Teams \/ Google \/ Zoom call. <\/p><div class=\"row\">\n<div class=\"col-md-12 subscribe-box-panel\">\n<div class=\"\">\n<div class=\"title\">\n<h4 class=\"fw-lighter mb-10\">\n   Get <b style=\"font-weight: 700\">Enterprise<\/b> daily<br>\n  <\/h4>\n<\/div>\n<p class=\"mb-10\">The roundup of news and trends that move your markets and shape corporate agendas delivered straight to your inbox.<\/p>\n<p>  <a target=\"_blank\" href=\"egypt\/en\/user\/NewsLetters\" type=\"button \" class=\"btn-green px-3 d-flex align-items-center\" rel=\"noopener\">Subscribe here<\/a>\n <\/p><\/div>\n<\/div>\n<\/div><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>HAPPENING THIS WEEK-<\/strong><\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Inflation figures are out soon:<\/strong> Capmas and the Central Bank of Egypt will publish inflation data for October on Thursday, 9 November.<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>THE BIG STORIES ABROAD-<\/strong><\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Israel\u2019s escalating war on Gaza is dominating the front pages this morning:<\/strong> We have the latest in this morning\u2019s news well, below. The <a target=\"_blank\" href=\"https:\/\/apnews.com\/article\/abbas-blinken-palestinians-israel-hamas-gaza-1139f6e433fa489fbf3bc4c41bc2d52d\" style=\"\" rel=\"noopener\">Associated Press<\/a>, <a target=\"_blank\" href=\"https:\/\/www.reuters.com\/world\/middle-east\/arab-world-us-split-gaza-ceasefire-israeli-offensive-presses-2023-11-05\/\" style=\"\" rel=\"noopener\">Reuters<\/a> and everyone else has the story on the homepage. Meanwhile, the <a target=\"_blank\" href=\"https:\/\/www.nytimes.com\/2023\/11\/05\/world\/middleeast\/israel-egypt-gaza.html\" style=\"\" rel=\"noopener\">New York Times<\/a> picks up on Israel\u2019s attempts to lobby Western powers to support ethnic cleansing in Gaza.<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><a id=\"wwtt5\"><\/a> <strong>ALSO- Agent Orange is leading Sleepy Joe in the polls:<\/strong> Biden has fallen behind Republican rival Donald Trump by as much as 10% in five out of the six most important swing states over concerns about his age, the economy, and internal party divisions over the war on Gaza, according to a new set of polls. (<a target=\"_blank\" href=\"https:\/\/www.nytimes.com\/2023\/11\/05\/us\/politics\/biden-trump-2024-poll.html\" style=\"\" rel=\"noopener\">NYT<\/a> | <a target=\"_blank\" href=\"https:\/\/www.reuters.com\/world\/us\/biden-trails-trump-states-likely-decide-2024-us-election-polls-show-2023-11-05\/\" style=\"\" rel=\"noopener\">Reuters<\/a>)<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>AND- Elon Musk takes on ChatGPT:<\/strong> Tech oligarch Elon Musk has jumped on the AI bandwagon with <a target=\"_blank\" href=\"https:\/\/twitter.com\/elonmusk\/status\/1720660977786433810\" style=\"\" rel=\"noopener\">the launch of Grok<\/a> \u2014 a chatbot fed by definitely the healthiest, most non-toxic source of online discourse: X \/ Twitter. <a target=\"_blank\" href=\"https:\/\/www.theverge.com\/2016\/3\/24\/11297050\/tay-microsoft-chatbot-racist\" style=\"\" rel=\"noopener\">What could go wrong?<\/a> (<a target=\"_blank\" href=\"https:\/\/www.ft.com\/content\/093cda92-91d8-49ff-8475-4f66ccff137b\" style=\"\" rel=\"noopener\">Financial Times<\/a> | <a target=\"_blank\" href=\"https:\/\/www.bbc.com\/news\/business-67327060\" style=\"\" rel=\"noopener\">BBC<\/a> | <a target=\"_blank\" href=\"https:\/\/www.wsj.com\/tech\/ai\/elon-musk-says-his-new-ai-bot-grok-will-have-sarcasm-and-access-to-x-information-b4e169de\" style=\"\" rel=\"noopener\">Wall Street Journal<\/a>)<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>MARKET WATCH- <\/strong><\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>KSA and Russia stand firm on planned oil cuts: <\/strong>Saudi Arabia and Russia are continuing with their 1 mn barrel a day voluntary cap on oil supplies until the end of the year, according to official statements from both countries (<a target=\"_blank\" href=\"https:\/\/www.spa.gov.sa\/en\/N1991842\" style=\"\" rel=\"noopener\">here<\/a> and <a target=\"_blank\" href=\"http:\/\/government.ru\/en\/news\/50007\/\" style=\"\" rel=\"noopener\">here<\/a>). The decision to continue supply cuts comes as fears of an escalating regional conflict in the Middle East have triggered volatility in global oil markets.<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>ICYMI-<\/strong><\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Missed this week\u2019s Inside Industry? <\/strong>In our weekly vertical exploring all things industry and manufacturing, we featured our <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/b64d46d6-58c1-4334-bb11-64cb54de0721\" style=\"\" rel=\"noopener\">Manufacturer of the Month: Mintra<\/a> <\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><img data-recalc-dims=\"1\" decoding=\"async\" src=\"https:\/\/i0.wp.com\/enterprise.press\/wp-content\/uploads\/2022\/10\/CIRA-Blackboard-Banner-B-1600.jpg\"><\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>*** It\u2019s Blackboard day:<\/strong> We have our weekly look at the business of education in Egypt, from pre-K through the highest reaches of higher ed. <\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>In today\u2019s issue:<\/strong> Is Egypt becoming a regional hub for higher ed?<\/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\/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\/oil-and-gas\/\">oil and gas<\/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=\"609477 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=\"609477\">\r\n            \r\n            <div class=\"story__body\">\r\n\r\n                <a href=\"https:\/\/enterpriseam.com\/egypt\/2023\/11\/06\/609477\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-609477\" class=\"content-area-description single-story post-609477 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 +20 12 2350 3528 or visit our website <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"http:\/\/www.somabaygolf.com\" style=\"\">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=\"609478\" 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=\"609478\">\r\n            \r\n                <div class=\"issue-story-header text-center\">\r\n                    <div class=\"index-number\">2<\/div>\r\n\r\n                    <p class=\"f-graphik\">Economy<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2023\/11\/06\/pmi-contracts-at-sharpest-rate-in-five-months\/\">\r\n                            Egypt\u2019s non-oil private sector activity contracts at sharper pace in October                        <\/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\/11\/06\/pmi-contracts-at-sharpest-rate-in-five-months\/\" 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 index posted its \u201csharpest deterioration\u201d in five months to reach 47.9 in October, down from <\/span><a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/37e16884-e004-4518-b66e-ae943f37c2b8\" rel=\"noopener\">48.7 in September<\/a><span style=\"background-color: transparent;\">.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The gauge has been in contraction territory for nearly three years:<\/strong> Non-oil private sector activity has now remained below the 50.0 threshold that separates growth from contraction for 35 consecutive months.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Soaring inflation + raw material shortages = falling output: <\/strong>Production registered \u201ca slower but still solid contraction\u201d as falling sales, sustained material shortages, and price pressures drove down production in the manufacturing, construction, wholesale, and retail sectors, while the services sector recorded modest growth.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>PMI participants made \u201ctheir fire reductions in staffing \u2026 since July\u201d <\/strong>on the back of a \u201cfaster decline in new business volumes \u2026 supply shortages, and inflation, said David Owen, senior economist at S&amp;P Global Market Intelligence. The rate of layoffs was the fastest since February on the back of a \u201cquicker drop in sales,\u201d the report said.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Remember: <\/strong>Inflation hit another all-time high of <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/d1c1b9b4-919d-41f5-a4f3-85357bcc52ad\" style=\"\" rel=\"noopener\">38% y-o-y in September<\/a> thanks to surging food costs and the impact of a series of devaluations. Data for October should be released on Thursday, 9 November.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Cost pressure stabilizing? <\/strong>\u201cWhile cost pressures are still sharp, they have moderated somewhat over the course of 2023, providing some respite to firms,\u201d Owen said. October\u2019s PMI figure is higher than in the first five months of the year and higher than the whole of 2022, bar February and January.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Optimism, of a sort: <\/strong>On the back of a gradual \u2014 if bumpy \u2014 stabilization of cost pressure, \u201cbusiness confidence picked up in October to the highest level in the year-to-date, implying that output could improve over the coming 12 months,\u201d Owen said. Businesses are \u201cmoderately hopeful of a recovery in economic conditions,\u201d the report said, with 13% of respondents sharing a positive outlook for the coming year.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The release also received attention internationally:<\/strong><a target=\"_blank\" href=\"https:\/\/www.reuters.com\/world\/africa\/egypts-non-oil-activity-shrinks-october-inflation-supply-shortages-bite-pmi-2023-11-05\/\" style=\"\" rel=\"noopener\">Reuters<\/a>.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>FROM THE REGION- <\/strong><\/p>\n<ul>\n<li><strong>UAE PMI hits four-year high: <\/strong>Non-oil private sector activity in the UAE accelerated in October at its fastest pace since June 2019 on the back of strong demand, according to <a target=\"_blank\" href=\"https:\/\/ent.news\/2023\/11\/173.pdf\" style=\"\" rel=\"noopener\">the PMI (pdf)<\/a>. The index rose to 57.7 from 56.7 during the month, driven by new orders \u2014 which accelerated at their fastest pace in four years \u2014 and stronger business confidence. <\/li>\n<li><strong>Saudi PMI surges: <\/strong>Growth in the kingdom\u2019s non-oil private sector picked up last month with the headline PMI rising to a nine-year high of 58.4 in October, up from 57.2 the month before. A rise in new business boosted market expansion and job creation volumes, according to <a target=\"_blank\" href=\"https:\/\/ent.news\/2023\/11\/187.pdf\" style=\"\" rel=\"noopener\">S&amp;P's report (pdf)<\/a>.<\/li>\n<\/ul>\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\/pmi\/\">PMI<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/saudi-arabia\/\">Saudi Arabia<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                    <\/div>\n    <\/div>\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"609480\" 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=\"609480\">\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\/11\/06\/our-fx-reserves-inched-up-in-october\/\">\r\n                            Egypt\u2019s FX reserves inched up in October                        <\/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\/11\/06\/our-fx-reserves-inched-up-in-october\/\" 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\/11\/06\/our-fx-reserves-inched-up-in-october\/')\">\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\/11\/06\/our-fx-reserves-inched-up-in-october\/\">\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=Our FX reserves inched up in October&url=https:\/\/enterpriseam.com\/egypt\/2023\/11\/06\/our-fx-reserves-inched-up-in-october\/\">\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\/11\/06\/our-fx-reserves-inched-up-in-october\/&title=Our FX reserves inched up in October\">\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=Our+FX+reserves+inched+up+in+October+https%3A%2F%2Fenterpriseam.com%2Fegypt%2F2023%2F11%2F06%2Four-fx-reserves-inched-up-in-october%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\/11\/06\/our-fx-reserves-inched-up-in-october\/\">\r\n                    <div class=\"photo photo--above\">\r\n                        <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2023\/10\/1485.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"609481\" data-permalink=\"https:\/\/enterpriseam.com\/egypt\/2023\/11\/06\/our-fx-reserves-inched-up-in-october\/1485-jpg-4\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2023\/10\/1485.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"1485.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2023\/10\/1485.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2023\/10\/1485.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-609480\" class=\"content-area-description single-story post-609480 post type-post status-publish format-standard has-post-thumbnail hentry category-economy tag-central-bank-of-egypt tag-economy tag-enterpriseam tag-foreign-exchange tag-foreign-reserves 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\/12\/.d007eac6-3952-4b75-87ee-3d301220c18c.mp3\"><\/audio><\/figure>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"> <strong>Net foreign reserves were essentially flat at USD 35.1 bn at the end of <\/strong><strong>October<\/strong>compared to <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/ee135d58-c388-44e6-bbcd-5235e25e7358\" style=\"\" rel=\"noopener\">USD 34.97 bn at the end of September<\/a>, according to <a target=\"_blank\" href=\"https:\/\/www.cbe.org.eg\/en\/news-publications\/news\/2023\/11\/05\/10\/42\/net-international-reserves-at-the-end-of-october-2023\" style=\"\" rel=\"noopener\">central bank<\/a> figures released yesterday.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>This marks the <\/strong><strong>fourteenth<\/strong><strong> month in a row in which the Central Bank of Egypt has reported <\/strong><strong>a slight uptick in reserves: <\/strong>FX reserves have increased every month since September 2022, after Russia\u2019s invasion of Ukraine triggered heavy capital outflows that saw Egypt bleed some USD 8 bn in reserves. Reserves have grown a little less than USD 2 bn over the 13-month period. We had USD 41 bn in reserves on the eve of the war in Ukraine. Almost USD 30 bn of our reserves are now made up of deposits made by Saudi Arabia, the UAE, Qatar, Kuwait and Libya.<\/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\/central-bank-of-egypt\/\">Central Bank of Egypt<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/economy\/\">economy<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/foreign-exchange\/\">foreign exchange<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/foreign-reserves\/\">foreign reserves<\/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=\"609482\" 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=\"609482\">\r\n            \r\n                <div class=\"issue-story-header text-center\">\r\n                    <div class=\"index-number\">4<\/div>\r\n\r\n                    <p class=\"f-graphik\">DEBT WATCH<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2023\/11\/06\/orascom-real-estate-lands-egp-6-bn-to-finance-o-west-construction\/\">\r\n                            Orascom Real Estate secures EGP 6 bn loan for O West construction                        <\/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\/11\/06\/orascom-real-estate-lands-egp-6-bn-to-finance-o-west-construction\/\" 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\/11\/06\/orascom-real-estate-lands-egp-6-bn-to-finance-o-west-construction\/')\">\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\/11\/06\/orascom-real-estate-lands-egp-6-bn-to-finance-o-west-construction\/\">\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=Orascom Real Estate lands EGP 6 bn to finance O West construction&url=https:\/\/enterpriseam.com\/egypt\/2023\/11\/06\/orascom-real-estate-lands-egp-6-bn-to-finance-o-west-construction\/\">\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\/11\/06\/orascom-real-estate-lands-egp-6-bn-to-finance-o-west-construction\/&title=Orascom Real Estate lands EGP 6 bn to finance O West construction\">\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=Orascom+Real+Estate+lands+EGP+6+bn+to+finance+O+West+construction+https%3A%2F%2Fenterpriseam.com%2Fegypt%2F2023%2F11%2F06%2Forascom-real-estate-lands-egp-6-bn-to-finance-o-west-construction%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\/11\/06\/orascom-real-estate-lands-egp-6-bn-to-finance-o-west-construction\/\">\r\n                    <div class=\"photo photo--above\">\r\n                        <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2023\/11\/242.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"609483\" data-permalink=\"https:\/\/enterpriseam.com\/egypt\/2023\/11\/06\/orascom-real-estate-lands-egp-6-bn-to-finance-o-west-construction\/242-jpg-17\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2023\/11\/242.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"242.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2023\/11\/242.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2023\/11\/242.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-609482\" class=\"content-area-description single-story post-609482 post type-post status-publish format-standard has-post-thumbnail hentry category-debt-watch tag-construction tag-debt-watch tag-efg-hermes tag-enterpriseam tag-o-west tag-orascom-construction tag-orascom-development-egypt tag-orascom-for-real-estate tag-real-estate 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\/11\/.8cda3b43-fade-4e8e-9cfd-6ac68c98e0c0.mp3\"><\/audio><\/figure>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"> <strong>Orascom Real Estate (ORE) has lined up EGP 6 bn to fast-track construction <\/strong><strong>at its O West project in Six October<\/strong>, parent company Orascom Development Egypt said in <a target=\"_blank\" href=\"https:\/\/ent.news\/2023\/11\/243.pdf\" style=\"\" rel=\"noopener\">a filing with the stock exchange (pdf)<\/a>. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>What\u2019s the money for? <\/strong>The property developer will use funds from the 10-year syndicated loan to partially finance the development of O West project and meet its aim of delivering upwards of 1k units in 2024. Part of the proceeds will be used to refinance an EGP 1.5 bn bridge facility ORE took out last year for the project.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>ADVISORS- <\/strong><a target=\"_blank\" href=\"https:\/\/ent.news\/2023\/11\/246.pdf\" style=\"\" rel=\"noopener\">EFG Hermes (pdf<\/a><a target=\"_blank\" href=\"https:\/\/ent.news\/2023\/11\/246.pdf\" style=\"\" rel=\"noopener\">)<\/a> acted as ORE\u2019s sole financial advisor, lead manager, and bookrunner. CIB and Banque Misr were mandated lead arrangers. MHR & Partners and White & Case acted as counsel.<\/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\/construction\/\">construction<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/debt-watch\/\">debt watch<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/efg-hermes\/\">EFG Hermes<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/o-west\/\">O West<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/orascom-construction\/\">Orascom Construction<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/orascom-development-egypt\/\">Orascom Development Egypt<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/orascom-for-real-estate\/\">Orascom for Real Estate<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/real-estate\/\">real estate<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                    <\/div>\n    <\/div>\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"609484\" 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=\"609484\">\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\">WAR WATCH<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2023\/11\/06\/israel-presses-ahead-with-gaza-war-despite-growing-global-anger\/\">\r\n                            Israel presses ahead with Gaza war despite growing global anger                        <\/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\" 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        \r\n                <\/div>\r\n\r\n            \r\n            <div class=\"story__body\">\r\n\r\n                <a href=\"https:\/\/enterpriseam.com\/egypt\/2023\/11\/06\/israel-presses-ahead-with-gaza-war-despite-growing-global-anger\/\">\r\n                    <div class=\"photo photo--above\">\r\n                        <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2023\/11\/257.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"609485\" data-permalink=\"https:\/\/enterpriseam.com\/egypt\/2023\/11\/06\/israel-presses-ahead-with-gaza-war-despite-growing-global-anger\/257-jpg-20\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2023\/11\/257.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"257.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2023\/11\/257.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2023\/11\/257.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-609484\" class=\"content-area-description single-story post-609484 post type-post status-publish format-standard has-post-thumbnail hentry category-war-watch tag-antony-blinken tag-enterpriseam tag-israel tag-israel-palestine-conflict tag-palestine tag-war-watch wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<figure class=\"wp-block-audio mb-0\"><audio controls preload=\"metadata\" src=\"https:\/\/s3.us-east-1.amazonaws.com\/ent.news\/audio\/2023\/11\/.57034ae5-3e88-4fb6-8c1d-2c1992e40eb1.mp3\"><\/audio><\/figure>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong> Israel steps up war on Gaza despite US calls for calm: <\/strong>Israeli Prime Minister Benjamin Netanyahu again rejected calls for a ceasefire in Gaza yesterday as his military mounted what <a target=\"_blank\" href=\"https:\/\/www.bbc.com\/news\/live\/world-middle-east-67324897?ns_mchannel=social&ns_source=twitter&ns_campaign=bbc_live&ns_linkname=6547fda71ec331355f961d02%26Heaviest%20air%20strikes%20since%20war%20began%20-%20BBC%20reporter%20in%20Gaza%262023-11-05T20%3A40%3A08.613Z&ns_fee=0&pinned_post_locator=urn:asset:124861a6-e6b9-4482-b257-c082f089ab33&pinned_post_asset_id=6547fda71ec331355f961d02&pinned_post_type=share\" style=\"\" rel=\"noopener\">one journalist<\/a> on the ground described as the \u201cmost intense airstrikes since the beginning of the war.\u201d Reports from the ground in Gaza are scarce after Israel once again <a target=\"_blank\" href=\"https:\/\/twitter.com\/netblocks\/status\/1721207577202008358\" style=\"\" rel=\"noopener\">cut all communications in the territory<\/a>, but <a target=\"_blank\" href=\"https:\/\/tinyurl.com\/43wztjma\" style=\"\" rel=\"noopener\">Palestinian media<\/a> reported continued bombardment of northern Gaza and the Israeli military <a target=\"_blank\" href=\"https:\/\/apnews.com\/article\/israel-hamas-war-news-11-05-2023-eb1dfa6afe40ba267024c7d819e17194\" style=\"\" rel=\"noopener\">said<\/a> it had completely encircled Gaza City. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Israeli troops will enter Gaza City within the coming 48 hours<\/strong>, Rear Adm. Daniel Hagari told reporters. He was speaking less than 48 hours after US Secretary of State Antony Blinken visited Tel Aviv in a bid to persuade Israeli officials to agree to a so-called \u201chumanitarian pause\u201d and reduce the intensity of the bombing \u2014 <a target=\"_blank\" href=\"https:\/\/www.nytimes.com\/2023\/11\/04\/us\/politics\/israel-gaza-deaths-bombs.html\" style=\"\" rel=\"noopener\">reportedly<\/a> by asking them to use \u201csmaller bombs.\u201d<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>GLOBAL PRESSURE-<\/strong> Israel is facing mounting global pressure to temper its assault, with even its closest allies such as the US now banging the drum for a humanitarian pause \u2014 and a growing list of countries reducing diplomatic ties in protest at the violence. <strong>Protests against the war have continued to grow around the world<\/strong>, with mns of people taking to the streets on Saturday, including in <a target=\"_blank\" href=\"https:\/\/abcnews.go.com\/US\/thousands-protesters-gather-dc-call-cease-fire-gaza\/story?id=104633410\" style=\"\" rel=\"noopener\">Washington, DC<\/a>, <a target=\"_blank\" href=\"https:\/\/www.france24.com\/en\/live-news\/20231104-thousands-march-in-europe-and-iran-protests-for-palestinians\" style=\"\" rel=\"noopener\">European capitals<\/a>, <a target=\"_blank\" href=\"https:\/\/www.voanews.com\/a\/pro-palestinian-protest-at-air-base-housing-us-troops-in-turkey-\/7342475.html\" style=\"\" rel=\"noopener\">Turkey<\/a> and <a target=\"_blank\" href=\"https:\/\/www.arabnews.com\/node\/2403621\/world\" style=\"\" rel=\"noopener\">Jakarta<\/a>.<\/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<ul>\n<li><strong>Death toll: <\/strong>Almost <a target=\"_blank\" href=\"https:\/\/www.washingtonpost.com\/world\/2023\/11\/05\/israel-war-hamas-gaza-live-news-palestine\/#link-ZQR5HF5YTJGT5DSL65UJVU56OY\" style=\"\" rel=\"noopener\">9.8k Palestinians<\/a>, including at least 4k children, have been killed by Israeli airstrikes over the past month, while over 24k have been wounded.<\/li>\n<li><strong>Israel <\/strong><strong><a target=\"_blank\" href=\"https:\/\/www.barrons.com\/news\/gaza-evacuations-of-injured-foreigners-suspended-for-2nd-day-c3d06a01\" style=\"\" rel=\"noopener\">continued to prevent<\/a><\/strong><strong> wounded Gazans from <\/strong><strong>crossing the border<\/strong> to receive medical treatment in Egypt and in turn Hamas delayed the evacuation of foreign nationals a second day. <\/li>\n<\/ul>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>BLINKEN ON TOUR- <\/strong><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The US secretary of state <\/strong><strong>continued his whirlwind tour of the region<\/strong> yesterday in an attempt to build support for a \u201chumanitarian pause\u201d in the fighting and temper Arab anger with the administration\u2019s full-throated support for Israel\u2019s war.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Arab and Israeli officials are both <\/strong><strong><a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/f12e16d7-ee5a-422d-921a-0e051e49d0e7\" style=\"\" rel=\"noopener\">rejecting the idea<\/a><\/strong><strong> of a pause<\/strong><strong>.<\/strong> Arab countries (<a target=\"_blank\" href=\"https:\/\/english.wafa.ps\/Pages\/Details\/139003\" style=\"\" rel=\"noopener\">here<\/a> and <a target=\"_blank\" href=\"https:\/\/tinyurl.com\/3k2xtfd4\" style=\"\" rel=\"noopener\">here<\/a>) are demanding an unconditional immediate end to the violence, while Israel is refusing to pause its military campaign until Hamas releases the hostages.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Blinken is in Turkey today<\/strong> before <a target=\"_blank\" href=\"https:\/\/www.state.gov\/secretary-blinkens-travel-to-tel-aviv-amman-ankara-tokyo-seoul-and-new-delhi\/\" style=\"\" rel=\"noopener\">heading<\/a> to Tokyo, Seoul, and New Delhi. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>ALSO- <\/strong>Foreign Minister Sameh Shoukry talked with <a target=\"_blank\" href=\"https:\/\/tinyurl.com\/mszdx27v\" style=\"\" rel=\"noopener\">his Turkish counterpart<\/a> ahead of Blinken\u2019s visit, while President Abdel Fattah El Sisi had phone conversations with EU Commission head <a target=\"_blank\" href=\"https:\/\/tinyurl.com\/5durhzmf\" style=\"\" rel=\"noopener\">Ursula von der Leyen<\/a> and Canadian Prime Minister <a target=\"_blank\" href=\"https:\/\/tinyurl.com\/ym9z5rxp\" style=\"\" rel=\"noopener\">Justin Trudeau<\/a>.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>BORDER TENSIONS RISE-<\/strong>. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Hezbollah <\/strong><strong><a target=\"_blank\" href=\"https:\/\/www.reuters.com\/world\/middle-east\/israeli-army-says-it-intercepted-drone-approaching-over-lebanon-2023-11-05\/\" style=\"\" rel=\"noopener\">warned Israel<\/a><\/strong><strong> it will \u201cpay <\/strong><strong>the price\u201d after several Lebanese children died<\/strong> in an Israeli airstrike yesterday. The group responded by firing rockets at a northern Israeli town. Hezbollah\u2019s main backer Iran <a target=\"_blank\" href=\"https:\/\/en.irna.ir\/news\/85281931\/Iran-warns-US-to-stop-war-in-Gaza\" style=\"\" rel=\"noopener\">threatened to \u201chit hard\u201d<\/a> at US forces if it did not broker a ceasefire. This came as Iran\u2019s Supreme Leader Ayatollah <a target=\"_blank\" href=\"https:\/\/en.irna.ir\/news\/85280786\/Palestine-s-Haniyeh-met-with-Iran-Supreme-Leader-in-Tehran-Report\" style=\"\" rel=\"noopener\">Ali Khamenei met with Hamas leader Ismail Haniyeh<\/a> in Tehran.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The bottom line:<\/strong> Though many around the world greeted <strong><a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/f12e16d7-ee5a-422d-921a-0e051e49d0e7\" style=\"\" rel=\"noopener\">Nasrallah\u2019s nothingburger<\/a><\/strong> on Friday with a sigh of relief, the longer the conflict persists and the deeper the Israelis go into Gaza, the higher the likelihood that violence spills over into neighboring countries.<\/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\/antony-blinken\/\">Antony Blinken<\/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\/palestine\/\">Palestine<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/war-watch\/\">war watch<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                    <\/div>\n    <\/div>\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"609486\" 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=\"609486\">\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\">Startup watch<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2023\/11\/06\/edtech-startup-obm-secures-six-figure-investment-for-saudi-expansion\/\">\r\n                            Edtech startup OBM lands six-figure investment for Saudi expansion                        <\/a>\r\n                    <\/h3>\r\n\r\n                    \r\n\t\t\t\t\t\n<div class=\"cta\">\n    <div class=\"cta__btn share-dropdown-cta dropdown-toggle-btn\" style=\"position:relative\">\n        <img decoding=\"async\" src=\"https:\/\/ent.news\/internal\/408834.svg\" alt=\"\">\n        Share Story\n        <!-- Dropdown Menu -->\n        <ul class=\"share-menu\">\n            <li class=\"list-inline-item\">\n                <a href=\"https:\/\/enterpriseam.com\/egypt\/2023\/11\/06\/edtech-startup-obm-secures-six-figure-investment-for-saudi-expansion\/\" target=\"_blank\">\n                    Open in new tab                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/new-tab.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a href=\"#\" target=\"_blank\" onclick=\"event.preventDefault(); 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href=\"https:\/\/api.whatsapp.com\/send?text=Edtech+startup+OBM+secures+six-figure+investment+for+Saudi+expansion+https%3A%2F%2Fenterpriseam.com%2Fegypt%2F2023%2F11%2F06%2Fedtech-startup-obm-secures-six-figure-investment-for-saudi-expansion%2F\">\n                    WhatsApp                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/whatsapp-icon.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n        <\/ul>\n    <\/div>\n        <\/div>\r\n                    \r\n                <\/div>\r\n\r\n            \r\n            <div class=\"story__body\">\r\n\r\n                <a href=\"https:\/\/enterpriseam.com\/egypt\/2023\/11\/06\/edtech-startup-obm-secures-six-figure-investment-for-saudi-expansion\/\">\r\n                    <div class=\"photo photo--above\">\r\n                        <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2023\/11\/251.jpeg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"609487\" data-permalink=\"https:\/\/enterpriseam.com\/egypt\/2023\/11\/06\/edtech-startup-obm-secures-six-figure-investment-for-saudi-expansion\/251-jpeg-4\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2023\/11\/251.jpeg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"251.jpeg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2023\/11\/251.jpeg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2023\/11\/251.jpeg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-609486\" class=\"content-area-description single-story post-609486 post type-post status-publish format-standard has-post-thumbnail hentry category-startup-watch tag-education tag-enterpriseam tag-obm-education tag-startup-watch tag-startups tag-value-makers-studio tag-venture-capital 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\/11\/.40a72901-6f59-457d-bf3b-70976255aaf3.mp3\"><\/audio><\/figure>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"> <strong>Value Makers Studio invests in local edutech startup OBM Education: <\/strong>Student career advising startup OBM Education has secured a six-figure USD investment from Saudi accelerator Value Makers Studio (VMS), it said in <a target=\"_blank\" href=\"https:\/\/ent.news\/2023\/11\/226.pdf\" style=\"\" rel=\"noopener\">a statement (pdf)<\/a> yesterday.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>About OBM:<\/strong> Founded in 2020 by Omar El Barbary (<a target=\"_blank\" href=\"https:\/\/www.linkedin.com\/in\/obarbary\/\" style=\"\" rel=\"noopener\">LinkedIn<\/a>) and Ezz El Din Farag (<a target=\"_blank\" href=\"https:\/\/eg.linkedin.com\/in\/ezzfarag\" style=\"\" rel=\"noopener\">LinkedIn<\/a>), OBM provides career advice, mentoring, and training programs to middle- and high-schoolers through summits, programs, and a mobile application. OBM has helped over 500k students and their Talab application has more than 180k users, according to its website.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Where the money\u2019s going:<\/strong> OBM Education is looking to expand its footprint in Saudi Arabia. The startup wants its flagship Talab mobile application to play a part in the kingdom\u2019s Vision 2030 ambitions to transform education. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>This isn\u2019t OBM\u2019s first six-figure USD investment: <\/strong>OBM also got a <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/ea2b832c-90f3-41fb-85ed-8a635660ea38\" style=\"\" rel=\"noopener\">six-figure US<\/a><a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/ea2b832c-90f3-41fb-85ed-8a635660ea38\" style=\"\" rel=\"noopener\">D investment<\/a> from education-focused VC EdVentures last 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\/education\/\">Education<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/obm-education\/\">OBM Education<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/startup-watch\/\">Startup watch<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/startups\/\">startups<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/value-makers-studio\/\">Value Makers Studio<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/venture-capital\/\">venture capital<\/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=\"609488\" 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=\"609488\">\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\">EARNINGS WATCH<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2023\/11\/06\/editas-earnings-jump-in-3q-9m-2023\/\">\r\n                            Edita\u2019s earnings jump in 3Q, 9M 2023                        <\/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\/11\/06\/editas-earnings-jump-in-3q-9m-2023\/\" 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 company\u2019s profit margin was stable at 33% despite inflationary pressure thanks to \u201cresponsive pricing and cost-efficient strategies.\u201d <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Price hikes drove the growth: <\/strong>\u201cGrowth was driven by a series of direct and indirect price increases that have migrated consumers to higher average price points,\u201d Edita said. The company raised prices by an average 46% y-o-y, pushing the average price per pack to EGP 3.15. The company sold some 989 mn packs during the quarter, up 6% from the same period last year. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>A strong 2023 so far: <\/strong>The company\u2019s net income rose 88% y-o-y to almost EGP 1.2 bn during the first nine months of the year, thanks to a 70% y-o-y jump in revenues pushing them to almost EGP 8.8 bn. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Overseas: <\/strong>Edita\u2019s Morocco facility\u2019s revenues saw a 192% y-o-y during 9M 2023 to record EGP 260 mn. On a similar note, Edita\u2019s exports grew 48% to USD 10.1 mn in 3Q 2023 in comparison to the same period last 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\/earnings-watch\/\">earnings watch<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/edita\/\">Edita<\/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=\"609490 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=\"609490\">\r\n            \r\n            <div class=\"story__body\">\r\n\r\n                <a href=\"https:\/\/enterpriseam.com\/egypt\/2023\/11\/06\/609490\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-609490\" class=\"content-area-description single-story post-609490 post type-post status-publish format-standard hentry category-advertiser wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<p><span style=\"font-weight:400;\"><a href=\"https:\/\/www.sodic.com\/SodicSignatureCommunities#THEESTATESResidences\" target=\"_blank\" rel=\"noopener\"><img data-recalc-dims=\"1\" decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2023\/10\/415.jpg?ssl=1\"><\/a><\/span><\/p>\n\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"609491\" 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=\"609491\">\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\/11\/06\/on-boycotts-nuclear-threats-and-the-positives-of-a-credit-rating-downgrade\/\">\r\n                            Last Night\u2019s Talk Shows: Israeli minister calls for nuclear attack on Gaza + Experts weigh the boycott on Western brands                        <\/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\/11\/06\/on-boycotts-nuclear-threats-and-the-positives-of-a-credit-rating-downgrade\/\" target=\"_blank\">\n                    Open in new tab                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/new-tab.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a href=\"#\" target=\"_blank\" onclick=\"event.preventDefault(); 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class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"609492\" data-permalink=\"https:\/\/enterpriseam.com\/egypt\/2023\/11\/06\/on-boycotts-nuclear-threats-and-the-positives-of-a-credit-rating-downgrade\/254-jpg-20\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2023\/11\/254.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"254.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2023\/11\/254.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2023\/11\/254.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-609491\" class=\"content-area-description single-story post-609491 post type-post status-publish format-standard has-post-thumbnail hentry category-last-nights-talk-shows tag-enterpriseam tag-israel-palestine-conflict tag-last-nights-talk-shows tag-middle-east-politics wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<figure class=\"wp-block-audio mb-0\"><audio controls preload=\"metadata\" src=\"https:\/\/s3.us-east-1.amazonaws.com\/ent.news\/audio\/2023\/11\/.d7e5c8e4-3d13-470f-8d80-bb7fcaade923.mp3\"><\/audio><\/figure>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The war on Gaza continued to take center stage on the airwaves last night:<\/strong> The talking heads dedicated airtime to the ongoing aid effort, calls in some quarters to boycott Western companies for allegedly supporting Israel, and the latest eyebrow-raising statement from the lunatic fringe of Bibi Netanyahu\u2019s war cabinet.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>#1- Israel isn\u2019t about to drop a nuke on Gaza:<\/strong> The nation\u2019s talking heads all had something to say about yesterday\u2019s call by the (now-suspended) far-right Israeli Heritage Minister Amichai Eliyahu to <a target=\"_blank\" href=\"https:\/\/www.politico.eu\/article\/israel-minister-amichai-eliyahu-suspend-benjamin-netanyahu-nuclear-bomb-gaza-hamas-war\/\" style=\"\" rel=\"noopener\">wipe out Gaza with nuclear weapons<\/a>. In an interview on Kelma Akhira, political researcher Mahmoud Mohieldin sought to calm fears that Israel might resort to the nuclear option in its war against Hamas, pointing out that Eliyahu is not a prominent voice in the country\u2019s security establishment. The comment was one of the \u201cIsraeli government\u2019s tactics used to terrorize Palestinians residing in Gaza as part of its plan to displace them,\u201d he told show host Lamees El Hadidi (<a target=\"_blank\" href=\"https:\/\/www.youtube.com\/watch?v=NhZOTD4jTOM\" style=\"\" rel=\"noopener\">watch, runtime:5:03<\/a>). <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Even Bibi is walking it back: <\/strong>Israeli Prime Minister Benjamin Netanyahu <a target=\"_blank\" href=\"https:\/\/twitter.com\/IsraeliPM\/status\/1721076229518823826\" style=\"\" rel=\"noopener\">publicly rejected the idea<\/a> and indefinitely suspended the minister. Ala Maso\u2019uleety (<a target=\"_blank\" href=\"https:\/\/www.youtube.com\/watch?v=YxJQyoSg9PI\" style=\"\" rel=\"noopener\">watch, runtime: 6:31<\/a>), Masa\u2019a DMC (<a target=\"_blank\" href=\"https:\/\/www.youtube.com\/watch?v=NYyRTLBJTks\" style=\"\" rel=\"noopener\">watch, runtime: 00:27<\/a>) and El Hekaya (<a target=\"_blank\" href=\"https:\/\/www.youtube.com\/watch?v=bJEC4v37cSM\" style=\"\" rel=\"noopener\">watch, runtime: 3:43<\/a>) also had coverage. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>#2- To boycott or not to boycott?<\/strong> Lamees tackled the issue last night in an in-studio debate focused on the economic implications of turning against brands that have (in fact or in legend) voiced support for Israel.<\/p>\n<ul>\n<li><strong>For:<\/strong> Boycotting Western brands is a great opportunity to promote local industry, said Mahmoud Al Asqalani, head of the Citizens Against Price Rises Association (<a target=\"_blank\" href=\"https:\/\/www.youtube.com\/watch?v=9kJHE-QaMIE\" style=\"\" rel=\"noopener\">watch, runtime: 2:43<\/a>). \u201cNone of the products offered by the brands boycotted are difficult to replicate \u2026 we have an FX crisis and we need to support local industry,\u201d he said. <\/li>\n<li><strong>Against:<\/strong> Some of the Western brands being targeted are franchises and owned by local or regional players, said the secretary-general of the Federation of Chambers of Commerce, Alaa Ezz (<a target=\"_blank\" href=\"https:\/\/www.youtube.com\/watch?v=xFw4TJkkc2A\" style=\"\" rel=\"noopener\">watch, runtime: 4:12<\/a>), meaning that a boycott is unlikely to impact their operations. What\u2019s more likely is that the campaign will negatively impact the livelihoods of people in Egypt, where multinational franchises employ some 700k directly and over 7 mn indirectly, he said.<\/li>\n<\/ul>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>#3- The ongoing aid effort:<\/strong>Talk shows had an eye on aid that has been allowed to cross the border between Egypt and Israel since it opened more than two weeks ago. Noha Talaat, secretary of the National Alliance for Civil Development Work (NACDW), told Al Hayah Al Youm that <strong>65 trucks crossed the border on Sunday<\/strong>, including 50 from the NACDW and 15 from the Haya Karima Foundation (<a target=\"_blank\" href=\"https:\/\/www.youtube.com\/watch?v=WrV3SSgqvt0\" style=\"\" rel=\"noopener\">watch, runtime: 2:59<\/a>). On Kelma Akhira, Lamees El Hadidi said that five planes carrying 58 tons of aid had landed at El Arish airport yesterday. In total, 78 planes carrying aid from 21 countries have landed since 12 October, but this is \u201cstill not enough,\u201d she said (<a target=\"_blank\" href=\"https:\/\/www.youtube.com\/watch?v=zdIGZOUKyCY\" style=\"\" rel=\"noopener\">watch, runtime: 2:18<\/a>). Masa\u2019a DMC also covered the Haya Karima Foundation\u2019s aid effort (<a target=\"_blank\" href=\"https:\/\/www.youtube.com\/watch?v=U1M1Y9zL8F4\" style=\"\" rel=\"noopener\">watch, runtime: 00:26<\/a>). <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>#4- Sisi x VDL:<\/strong> Ala Mas\u2019ouleety (<a target=\"_blank\" href=\"https:\/\/www.youtube.com\/watch?v=M1SuvsjENCA\" style=\"\" rel=\"noopener\">watch, runtime: 3:00<\/a>) and Masa\u2019a DMC (<a target=\"_blank\" href=\"https:\/\/www.youtube.com\/watch?v=0T0nBPR42P8\" style=\"\" rel=\"noopener\">watch, runtime: 1:24<\/a>) covered President Abdel Fattah El Sisi\u2019s <a target=\"_blank\" href=\"https:\/\/tinyurl.com\/5durhzmf\" style=\"\" rel=\"noopener\">phone call<\/a> with EU Commission head <a target=\"_blank\" href=\"https:\/\/tinyurl.com\/5durhzmf\" style=\"\" rel=\"noopener\">Ursula von der Leyen<\/a> to discuss the situation in Gaza.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>ALSO- In a rare slice of business \/ econ coverage on the airwaves\u2026<\/strong> Masa\u2019a DMC had an analyst on to give a positive spin on <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/9dd47b4b-5995-4497-94b6-6d9d4bf39af7\" style=\"\" rel=\"noopener\">Fitch Ratings\u2019 recent decision<\/a> to downgrade our sovereign credit rating deeper into junk territory (<a target=\"_blank\" href=\"https:\/\/www.youtube.com\/watch?v=fH2Uz0dJUZI\" style=\"\" rel=\"noopener\">watch, runtime: 7:31<\/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-palestine-conflict\/\">Israel-Palestine conflict<\/a>\n                <!-- 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href=\"https:\/\/enterpriseam.com\/egypt\/2023\/11\/06\/schneider-is-investing-eur-8-mn-in-the-local-market-before-year-end-plus-prime-vestas-petrochemical-industry-kharafi-cofra-heliopark\/\">\r\n                            Schneider is investing EUR 8 mn in the local market before year end. PLUS: Prime, Vestas, petrochemical industry, Kharafi, Cofra, Heliopark                        <\/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\/11\/06\/schneider-is-investing-eur-8-mn-in-the-local-market-before-year-end-plus-prime-vestas-petrochemical-industry-kharafi-cofra-heliopark\/\" 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\/11\/06\/schneider-is-investing-eur-8-mn-in-the-local-market-before-year-end-plus-prime-vestas-petrochemical-industry-kharafi-cofra-heliopark\/')\">\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\/11\/06\/schneider-is-investing-eur-8-mn-in-the-local-market-before-year-end-plus-prime-vestas-petrochemical-industry-kharafi-cofra-heliopark\/\">\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=Schneider is investing EUR 8 mn in the local market before year end. 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Part of the investment will go into its Badr City factory, adding a new production line. The fresh investment falls in line with the company\u2019s strategy to enhance local operations and accelerate its digital transformation.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>CORRECTION- <\/strong>Last week we picked up a report from CNN Business Arabic saying that Schneider Electric is investing EUR 30 mn in its Badr City factory expansion until 2025. The report has since been amended to reflect that the EUR 30 mn figure refers to investments the company has made in our local market in 2020. We have since removed the story from our website. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>FINANCIAL SERVICES-<\/strong><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Prime mulls three new funds for 2024: <\/strong>Prime Holding\u2019s asset management arm, <a target=\"_blank\" href=\"https:\/\/primeholdingco.com\/asset-management\/\" style=\"\" rel=\"noopener\">Prime<\/a><a target=\"_blank\" href=\"https:\/\/primeholdingco.com\/asset-management\/\" style=\"\" rel=\"noopener\">Investments<\/a>, is looking to launch three funds next year \u2014 an EGP 500 mn tourism fund, an EGP 500 mn gold fund, and venture capital with some EGP 1 bn to invest, Chairman Mohamed Ayad told <a target=\"_blank\" href=\"https:\/\/tinyurl.com\/ydk9uhby\" style=\"\" rel=\"noopener\">Hapi Journal<\/a>. Prime will seed 10% of the capital for each of the funds, Ayad said, and hopes to have licenses for each in place by 1Q 2024. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Prime is also looking to raise some EGP 150-200 mn from local investors <\/strong>to finance a capital increase at its <a target=\"_blank\" href=\"https:\/\/primeholdingco.com\/financial-technology\/\" style=\"\" rel=\"noopener\">fintech unit<\/a> with the aim of bringing the company\u2019s total capital to EGP 220 mn. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>T&amp;Cs apply\u2026 <\/strong>Both the new funds and the capital injection for the fintech unit are just \u201cideas for the future,\u201d the company said in a later <a target=\"_blank\" href=\"https:\/\/ent.news\/2023\/11\/215.pdf\" style=\"\" rel=\"noopener\">EGX disclosure (pdf)<\/a>, adding that no official moves have been made on either fronts. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>ENERGY-<\/strong><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>#1- <\/strong><strong>It\u2019s business as usual for fertilizer companies: <\/strong>The government has reportedly increased gas supplies earmarked for fertilizer companies, reversing a <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/b88824c5-9f39-426c-8a60-5a3bb22b10a6\" style=\"\" rel=\"noopener\">30% supply cut<\/a> introduced last week triggered by a sharp downturn in imports of natural gas from Israel, <a target=\"_blank\" href=\"https:\/\/tinyurl.com\/4nh36zx3\" style=\"\" rel=\"noopener\">Asharq Business<\/a> reports, citing what it says are three government officials. This comes on the back of Israeli natural gas imports <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/a79e003f-a1f1-4c35-93b6-45b7232e3a45\" style=\"\" rel=\"noopener\">picking up again<\/a> late last week. Fertilizer factories consume a daily 450-500 mn cubic feet of natural gas.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"> <strong>#2- Vestas\u2019 250 MW Suez wind farm to link up with the grid next month<\/strong>: Danish wind turbine maker <a target=\"_blank\" href=\"https:\/\/www.vestas.com\/en\" style=\"\" rel=\"noopener\">Vestas<\/a> has begun a trial operations at its 250 MW-capacity wind farm in the Gulf of Suez, according to unnamed company officials cited in <a target=\"_blank\" href=\"https:\/\/tinyurl.com\/29aurrnu\" style=\"\" rel=\"noopener\">Al Arabiya<\/a> yesterday. The wind farm, in the works since 2020, will be handed over to Egypt\u2019s New and Renewable Energy Authority (NREA) by mid-December. Total investment in the project from Egypt and European development partners amounts to c. EUR 250 mn, according to the Saudi outlet. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>DEBT-<\/strong><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Kharafi to borrow EGP 950 mn to fund local projects:<\/strong> Kuwait-based subsidiary of the Saudi Al Kharafi Group <a target=\"_blank\" href=\"https:\/\/www.kharafinational.com.eg\/\" style=\"\" rel=\"noopener\">Kharafi National<\/a> is reportedly getting a EGP 950 mn syndicated loan from a banking consortium including: SAIB Bank, Al Baraka Bank, the Arab Investment Bank, the Industrial Development Bank, and Export Development Bank, <a target=\"_blank\" href=\"https:\/\/tinyurl.com\/yuyrkexx\" style=\"\" rel=\"noopener\">Al Mal<\/a> reported, citing sources it says have knowledge of the matter. The money will fund the company\u2019s local activities. Kharafi National in August <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/bb2c0c4f-396e-4ea6-b43f-a72cb2b386f7\" style=\"\" rel=\"noopener\">secured a syndicated shariah-compliant loan worth EGP 1.65 bn<\/a> from local lenders to expand in the Egyptian market.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>MANUFACTURING-<\/strong><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Italy\u2019s Cofra wants to set up shop in Egypt:<\/strong> Italian personal protective equipment manufacturer <a target=\"_blank\" href=\"http:\/\/www.cofra.it\/en\/\" style=\"\" rel=\"noopener\">Cofra<\/a> is looking to establish an EUR 10 mn 50k sqm factory in Egypt, the Trade Ministry said in a <a target=\"_blank\" href=\"https:\/\/www.facebook.com\/EgyptianCabinet\/posts\/pfbid0KFVejKku6uzE3HEKEmQReujdcW28YN4zRnNCfdcCKuxKDpmWx7ahXGN6YuSTvGWDl\" style=\"\" rel=\"noopener\">statement<\/a> on Thursday. The factory, which could be based in the <a target=\"_blank\" href=\"https:\/\/tinyurl.com\/57ujwn2n\" style=\"\" rel=\"noopener\">Roubiki Leather City<\/a>, would create some 2k new jobs. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>An Egyptian-Italian ro-ro line? <\/strong>The Transport Ministry is currently working with the Italian side to establish a <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/c493ea71-6c23-4344-a114-f22fe101f739\" style=\"\" rel=\"noopener\">roll on, roll off (ro-ro) transport line<\/a> that would link the ports of Damietta and Alexandria with the Italian Trieste Port, to facilitate the movement of goods between the two sides, the statement said without providing any details.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>REAL ESTATE-<\/strong><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Heliopark sale sealed:<\/strong> The National Organization for Social Ins. (NOSI) has acquired 100% of the land allocated to the Heliopark project from the state-owned Heliopolis Housing and Development (HHD) in an EGP 15 bn transaction, according to a <a target=\"_blank\" href=\"https:\/\/www.facebook.com\/EgyptianCabinet\/posts\/pfbid02CVG3xssneEfJMpqh6nUJJVbwiaKKZ2ufdjw7Vv1yfQ7r4AHzLvmvj3pxX9qNoAel\" style=\"\" rel=\"noopener\">statement<\/a>. HHD\u2019s ordinary general assembly last month <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/20998ac6-3132-4431-bb99-7003e1ce392a\" style=\"\" rel=\"noopener\">approved<\/a> NOSI\u2019s acquisition offer, put forward after HHD <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/4e87b35d-4713-4013-9caf-d8e646042878\" style=\"\" rel=\"noopener\">abandoned the project<\/a> in February.<\/p>\n\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/also-on-our-radar\/\">ALSO ON OUR RADAR<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/cofra\/\">Cofra<\/a>\n                <!-- <span 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data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2023\/11\/259.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"259.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2023\/11\/259.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2023\/11\/259.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-609496\" class=\"content-area-description single-story post-609496 post type-post status-publish format-standard has-post-thumbnail hentry category-planet-finance tag-berkshire-hathaway tag-capital-markets tag-earnings tag-enterpriseam tag-financial-markets tag-planet-finance tag-warren-buffett 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\/11\/.138f01e4-dbd5-4caa-98d3-69ac6eb62da3.mp3\"><\/audio><\/figure><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Warren Buffett\u2019s Berkshire Hathaway is sitting on more cash than ever \u2014 and he\u2019s having <\/strong><strong>trouble finding investments to which he wants to commit it. <\/strong>That\u2019s how the global finance press is interpreting Berkshire\u2019s <a target=\"_blank\" href=\"https:\/\/ent.news\/2023\/11\/236.pdf\" style=\"\" rel=\"noopener\">latest set of results (pdf)<\/a>, which saw Berkshire report a record cash hoard of more than USD 157 bn (or about 5x Egypt\u2019s total FX serves, for those of you keeping count at home). <\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Berkshire has most of its cash parked in treasuries<\/strong>, <a target=\"_blank\" href=\"https:\/\/www.bloomberg.com\/news\/articles\/2023-11-04\/buffett-s-cash-pile-hits-record-157-billion-amid-scarce-deals?srnd=premium-asia&amp;sref=mmeFTDW1\" style=\"\" rel=\"noopener\">Bloomberg<\/a> writes, as the globally renowned investor has \u201cstruggled to find many of the big-ticket deals that galvanized Buffett\u2019s renown, leaving him with more cash than he and his investing deputies could quickly deploy.\u201d<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>On the bottom line: <\/strong>Berkshire reported operating earnings of USD 10.7 bn in 3Q 2024 (led by insurance businesses it controls), up from USD 7.7 bn in the same quarter last year. Berkshire also reports GAAP-compliant net earnings, where it turned in a loss due to the requirement that it mark-to-market investments it still holds (and has not sold). Among others, the company is a massive shareholder in Apple. <\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>ALSO- Mass layoffs by US wealth managers continue<\/strong>: Prominent US asset managers Charles Schwab, Prudential, and Invesco are to begin another round of job cuts after a first and larger headcount cut earlier this year. The decision is propelled by an exodus of customers seeking less risky investments. (<a target=\"_blank\" href=\"https:\/\/www.ft.com\/content\/ad93c178-cf15-4f30-a1ec-84ff4f12a9fa\" style=\"\" rel=\"noopener\">Financial Times<\/a>) <\/p><p><a target=\"_blank\" id=\"t.afda8c783a82e64db6271ec3b4f7cd29599ea85c\" 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\">23,095<\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">+2.0% (YTD: +58.2%)<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-none\">\n<td class=\"td-list-none\">\n<p><svg class=\"e-icon e-TypeMarkets\"><use xlink:href=\"#e-TypeMarkets\"><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>USD (CBE)<\/strong><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">Buy 30.83<\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">Sell 30.96<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-none\">\n<td class=\"td-list-none\">\n<p><svg class=\"e-icon e-TypeMarkets\"><use xlink:href=\"#e-TypeMarkets\"><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>USD at CIB<\/strong><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">Buy 30.85<\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">Sell 30.95<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-none\">\n<td class=\"td-list-none\">\n<p><svg class=\"e-icon e-TypeMarkets\"><use xlink:href=\"#e-TypeMarkets\"><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>Interest rates CBE<\/strong><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">19.25% deposit<\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">20.25% lending<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-up\">\n<td class=\"td-list-up\">\n<p><svg class=\"e-icon e-TypeMarkets11\"><use xlink:href=\"#e-TypeMarkets11\"><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>Tadawul<\/strong><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">10,939<\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">+0.8% (YTD: +4.4%)<\/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>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\">9,510<\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">+0.3% (YTD: -6.9%)<\/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>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\">3,930<\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">+0.4% (YTD: +17.8%)<\/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>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\">4,358<\/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: +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>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\">7,418<\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">-0.4% (YTD: -0.5%)<\/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>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\">4,175<\/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: +10.0%)<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-down\">\n<td class=\"td-list-down\">\n<p><svg class=\"e-icon e-TypeMarkets1\"><use xlink:href=\"#e-TypeMarkets1\"><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>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 84.89<\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">-2.3%<\/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 3.52<\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">+1.2%<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-up\">\n<td class=\"td-list-up\">\n<p><svg class=\"e-icon e-TypeMarkets11\"><use xlink:href=\"#e-TypeMarkets11\"><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>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 1,999.20<\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">+0.3%<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-down\">\n<td class=\"td-list-down\">\n<p><svg class=\"e-icon e-TypeMarkets1\"><use xlink:href=\"#e-TypeMarkets1\"><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>BTC<\/strong><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">USD 34,664<\/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: +109.3%)<\/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 2.0% at yesterday\u2019s close<\/strong> on turnover of EGP 3.58 bn (47.7% above the 90-day average). Regional investors were net sellers. The index is up 58.2% YTD.<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>In the green: <\/strong>Beltone Financial Holding (+8.8%), Qalaa Holding (+5.0%) and EFG Holding (+4.9%).<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>In the red: <\/strong>Mopco (-1.6%), Oriental Weavers (-0.9%) and Alexandria Mineral Oils Company (-0.7%).<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Asian markets are firmly in the green in early trading this morning<\/strong>, led by South Korea\u2019s Kospi, which is up almost 4% after the country\u2019s regulator banned short selling. It\u2019s a more mixed picture in Western markets, with Europe\u2019s biggest indexes are on course to fall while Wall Street will open higher, according to equity futures.<\/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\/berkshire-hathaway\/\">Berkshire Hathaway<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/capital-markets\/\">capital markets<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/earnings\/\">earnings<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/financial-markets\/\">Financial Markets<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/planet-finance\/\">Planet Finance<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/warren-buffett\/\">Warren Buffett<\/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=\"609498\" 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=\"609498\">\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\">AROUND THE WORLD<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2023\/11\/06\/uae-could-invest-big-in-india-russia-could-up-its-military-presence-in-libya\/\">\r\n                            UAE could invest USD 50 mn in India + Russia could up its military presence in Libya                        <\/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\/11\/06\/uae-could-invest-big-in-india-russia-could-up-its-military-presence-in-libya\/\" 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 UAE is eyeing stakes in Indian infrastructure projects and state-owned assets, the sources said, adding that some of the agreements could involve Abu Dhabi wealth funds ADQ, the Abu Dhabi Investment Authority, and Mubadala Investment Company. Provisional agreements could be announced as soon as early next year, with investment to come in during 2H 2024. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>ALSO-<\/strong><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>#1- Russia is deepening its military footprint in Libya: <\/strong>The Kremlin is set to expand its military presence in eastern Libya under a defense accord that\u2019s being drawn up between Russian President Vladimir Putin and Libya\u2019s eastern military commander Khalifa Haftar. (<a target=\"_blank\" href=\"https:\/\/www.bloomberg.com\/news\/articles\/2023-11-05\/putin-s-move-to-secure-libya-bases-is-new-regional-worry-for-us?srnd=middle-east-politics\" style=\"\" rel=\"noopener\">Bloomberg<\/a>)<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>#2- Earthquake in Nepal: <\/strong>A magnitude 5.4 earthquake hit a remote area in northwestern Nepal on Friday killing 157, injuring 256, and leaving almost 3k people homeless. (<a target=\"_blank\" href=\"https:\/\/apnews.com\/video\/earthquakes-nepal-samjhana-bika-10d1ffa8362041b8b31db983e4add1a5\" style=\"\" rel=\"noopener\">Associated Press<\/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\/around-the-world\/\">Around the World<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/india\/\">India<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/nepal\/\">nepal<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/russia\/\">Russia<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/uae\/\">UAE<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                    <\/div>\n    <\/div>\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<div class=\"alignfull vertical-section wide-section blackboard wp-block-group issue-section\" id=\"609500\">\r\n    <div class=\"issue-section__content\">\r\n        <div class=\"alignwide wp-block-columns\">\r\n            <div class=\"wp-block-column sidebar-vertical-info\" style=\"flex-basis:22.8%\">\r\n                <figure class=\"wp-block-image size-full\">\r\n                                            <img decoding=\"async\" src=\"https:\/\/s3.amazonaws.com\/resources.inktankir.com\/internal\/27466.svg\" style=\"width:80%\" alt=\"\" >\r\n                                    <\/figure>\r\n                <p>\r\n                    Our weekly deep dive into education in Egypt, from K-12 to post-secondary.                <\/p>\r\n                <figure class=\"wp-block-image size-full mt-0 mb-0 img-white-bg\"><img decoding=\"async\" src=\"https:\/\/s3.amazonaws.com\/resources.inktankir.com\/internal\/27480.svg\" alt=\"\"><\/figure>\r\n                <p class=\"has-text-color has-link-color\">\r\n                    Published every Monday in EnterpriseAM.                <\/p>\r\n                <div class=\"wp-block-buttons mt-0\">\r\n                    <div class=\"wp-block-button\">\r\n                        <a class=\"wp-block-button__link has-background wp-element-button\" href=\"https:\/\/enterpriseam.com\/egypt\/blackboard\/\">\r\n                            Read Blackboard                        <\/a>\r\n                    <\/div>\r\n                <\/div>\r\n            <\/div>\r\n            <div class=\"wp-block-column issue-section\">\r\n                <div class=\"story-section\">\r\n                    <div class=\"issue-story-header text-center\">\r\n                        <div class=\"index-number\">12<\/div>\r\n\r\n                        <p class=\"f-graphik\">BLACKBOARD<\/p>\r\n                        <h3 class=\"story-title\"><a href=\"https:\/\/enterpriseam.com\/egypt\/blackboards\/is-egypt-becoming-a-regional-hub-for-higher-ed\/\">\r\n                            Is Egypt becoming a regional hub for higher ed?<\/a>\r\n                        <\/h3>\r\n                        \r\n\t\t\t\t\t\n<div class=\"cta\">\n    <div class=\"cta__btn share-dropdown-cta dropdown-toggle-btn\" style=\"position:relative\">\n        <img decoding=\"async\" src=\"https:\/\/ent.news\/internal\/408834.svg\" alt=\"\">\n        Share Story\n        <!-- Dropdown Menu -->\n        <ul class=\"share-menu\">\n            <li class=\"list-inline-item\">\n                <a href=\"https:\/\/enterpriseam.com\/egypt\/blackboards\/is-egypt-becoming-a-regional-hub-for-higher-ed\/\" 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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At home, universities are gaining ground in <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/57398f09-9132-4328-b459-8355fb358a93\" style=\"\" rel=\"noopener\">some global rankings<\/a> (despite a mixed performance in <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/771e1b00-b7ce-4d32-84a7-0249d60d490b\" style=\"\" rel=\"noopener\">others<\/a>), a weakening EGP is rendering the cost of living increasingly attractive for foreigners, and new universities and programs are sprouting nationwide. As the academic environment picks up, the government is looking to tap into this potential to draw in more students, particularly from the Gulf and Africa, where similar capabilities are absent but culture is vastly similar, a source at the Higher Education Ministry told Enterprise. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>We have the legislative, curricular, and physical infrastructure: <\/strong><a target=\"_blank\" href=\"https:\/\/www.elwatannews.com\/news\/details\/5477753\" style=\"\" rel=\"noopener\">Regulations<\/a> by the Higher Education Ministry require local universities to <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/bb0f7821-fd9e-4896-81a7-c2ac98230537\" style=\"\" rel=\"noopener\">form academic partnerships<\/a> with \u201cwell-established\u201d international universities ahead of receiving or renewing their licenses to operate. Additionally, a slew of <a target=\"_blank\" href=\"https:\/\/english.ahram.org.eg\/News\/505677.aspx\" style=\"\" rel=\"noopener\">new universities<\/a> have opened over the past several years as part of the government\u2019s strategy to bolster the higher education system and keep up with the global marketplace. This newfound capacity in the sector has left universities with thousands of vacant seats that the sector is eager to fill, said President of Badr University in Cairo (BUC) Mostafa Kamal (<a target=\"_blank\" href=\"https:\/\/www.linkedin.com\/in\/mostafa-kamal-64271484\/?originalSubdomain=eg\" style=\"\" rel=\"noopener\">LinkedIn<\/a>).<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>International student enrollment rates are picking up: <\/strong>Over 40k international students have applied for undergraduate studies for the 2023-2024 academic year through the government\u2019s college <a target=\"_blank\" href=\"https:\/\/admission.study-in-egypt.gov.eg\/\" style=\"\" rel=\"noopener\">admission platform<\/a> for public and private universities, up at least 16.3% from the 34.4k students who applied last year, our source at the Higher Education Ministry told us. Some 75.3% of those who applied last year saw their applications through till enrollment. Enrollment rates are expected to continue their upward trajectory, said Future University President Ebada Sarhan (<a target=\"_blank\" href=\"https:\/\/www.linkedin.com\/in\/ebada-sarhan-b516b616\/?originalSubdomain=eg\" style=\"\" rel=\"noopener\">LinkedIn<\/a>), adding that around 60k international students are expected to join universities in Egypt in the 2024-2025 academic year. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Where do these students hail from?<\/strong> The greatest share of international students joining undergraduate programs here in the 2022-2023 academic year came from Sudan, with some 7.4k students enrolling, according to our ministry source. The Sudanese cohort was followed by Kuwaiti and Algerian students, of which a combined 3.3k applicants joined. The post graduate category was led by 773 Kuwaiti students. Coming in second place by a wide margin was Syria, from which 116 students enrolled. More broadly, medical programs received the greatest number of applications from international students.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>What\u2019s the scope of our higher education landscape, anyway?<\/strong> Below is a breakdown of the 92 universities that operate in the country, according to the <a target=\"_blank\" href=\"https:\/\/www.facebook.com\/MOHESREGYPT\/posts\/pfbid0e3XBwPQYzwPpZzXF62eZbHnPELpfiarN1AMn5HBtyksGt35cFrF42ttjbPDqNxeCl\" style=\"\" rel=\"noopener\">Higher Education Ministry<\/a>:<\/p>\n<ul>\n<li>28 public universities<\/li>\n<li>27 private universities<\/li>\n<li>20 nonprofit national universities <\/li>\n<li>10 technological universities<\/li>\n<li>7 international branch campuses (IBCs)<\/li>\n<\/ul>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The government has a new education management company in the works: <\/strong>The Higher Education Ministry is setting up a company to plan and market higher education, our government source said. The company would work to attract international students from the world over by promoting Egyptian universities. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>And is gearing up for the promotional legwork: <\/strong>The ministry is set to launch two roadshows in Saudi Arabia and Jordan next month to promote educational programs and facilities in Egypt, our source at the ministry said. The roadshows will include representatives of public and private universities as well as branches of international universities. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>So what are the sector\u2019s selling points?<\/strong> In addition to the diverse range of quality programs and curricula that the local education sector offers, the country is an attractive destination for international students both financially and culturally, our government source said. While international students are required to pay tuition fees in USD, the devaluation has lowered the cost of living in Egypt and the ministry is targeting more students as a result, the source explained. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The private sector has a pivotal role to play:<\/strong> Not only is there a need for a centralized government plan, but also for individual marketing efforts on the part of each university aimed at spotlighting the distinct specializations and services that it offers, Kamal said. Private university <a target=\"_blank\" href=\"http:\/\/www.akhbaracademy.edu.eg\/\" style=\"\" rel=\"noopener\">Akhbar El Yom Academy<\/a> has been independently working to market its offering abroad, holding exhibitions in Nigeria, Ghana, and Kuwait that have helped it reel in a greater number of international students, he said. Other universities need to follow suit by ramping up their marketing efforts and rolling out more orientation programs aimed at helping international students assimilate into the culture, Kamal said. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Some loopholes remain to be addressed: <\/strong>Because transnational programs are expensive to implement, many local universities have inked agreements to partner up with international institutions without actually bringing any joint programs online, one private sector source told us. In order to attract more international students, the Higher Education Ministry should issue regulations requiring local universities to activate these partnerships, our source added.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Accreditation is a key area for improvement:<\/strong> The first step to ramping up the number of international students in Egypt is to work on accrediting more universities, Sarhan said. International students and the governments that finance their studies abroad often overlook private universities that they haven\u2019t heard of due to lack of accreditation, with the vast majority opting for public universities, he explained.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\">\n<hr style=\"height:2px;border-width:0;color:gray;background-color:gray\">\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Your top education stories for the week:<\/strong><\/p>\n<ul>\n<li><strong>Cosmic Village schools open their doors: <\/strong>The Sovereign Fund of Egypt on Thursday inaugurated <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/47d072c6-9580-4f66-b248-7253c93bdd4a\" style=\"\" rel=\"noopener\">four schools<\/a> through partnerships with private sector companies including CIRA as part of the first phase of the Cosmic Village development project.<\/li>\n<li><strong>Egyptian universities make it into the global top 50 for medical engineering,<\/strong><strong> textile sciences, and agricultural sciences<\/strong>, according to Shanghai Ranking\u2019s <a target=\"_blank\" href=\"https:\/\/www.shanghairanking.com\/rankings\/gras\/2023\" style=\"\" rel=\"noopener\">Global Ranking of Academic Subjects<\/a> for 2023. (<a target=\"_blank\" href=\"https:\/\/www.facebook.com\/EgyptianCabinet\/posts\/pfbid0phs9u1bgi4ovMf5fBhW9u7XiCgzou9nxjwnstnb8n5M7KNYjf67fJoyLseHZfgBSl\" style=\"\" rel=\"noopener\">Statement<\/a>)<\/li>\n<li><strong>CIRA wraps up second future flow securitization: <\/strong>EGX-listed education provider CIRA Education closed its second future flow issuance worth <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/0a7d8e03-80c9-4d12-b1cd-aaa6bc9c4394\" style=\"\" rel=\"noopener\">EGP 700 mn<\/a> as part of a larger EGP 2 bn program.<\/li>\n<li><strong>EEP eyes KSA expansion: <\/strong>EFG Hermes-backed <a target=\"_blank\" href=\"https:\/\/egypteducationplatform.com\/\" style=\"\" rel=\"noopener\">Egypt Education Platform<\/a> (EEP) is studying the possibility of <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/d1890753-e50c-4b00-802c-b13c13db54cc\" style=\"\" rel=\"noopener\">launching in Saudi Arabia<\/a> within the next 12-18 months.<\/li>\n<\/ul>\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\/blackboard\/\">Blackboard<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/ebada-sarhan\/\">Ebada Sarhan<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/education\/\">Education<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/mostafa-kamal\/\">Mostafa Kamal<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                    <\/div>\n    <\/div>\n\r\n                    <\/div>\r\n                <\/div>\r\n            <\/div>\r\n            <div class=\"wp-block-column\" style=\"flex-basis:19.8%\"><\/div>\r\n        <\/div>\r\n    <\/div>\r\n<\/div>\n<section id=\"609502\" 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\/11\/06\/609502\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-609502\" class=\"content-area-description single-story post-609502 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\">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;\">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): House of Representatives to reconvene.<\/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>22 November (Wednesday): <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/gcc-egyptbf.com\/en\/forum\/forum-program-1\" style=\"\">The EGY-GCC Business Forum<\/a><\/span><span style=\"font-weight:400;\"> opening session.<\/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 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 style=\"font-weight:400;\">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 style=\"font-weight:400;\">17 January (Wednesday): A delegation of Egyptian companies to visit Istanbul.<\/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;\">FEBRUARY<\/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;\">11 February (Sunday): The deadline to apply for the Chicago Booth Executive Program<\/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:400;\">29 May (Wednesday): Chicago Booth Executive Program<\/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 style=\"font-weight:400;\">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>PMI down, optimism up | Goodbye, two-hour blackouts? | FX reserves flat | Egypt higher ed hub?<\/p>\n","protected":false},"featured_media":609474,"menu_order":0,"template":"","categories":[],"tags":[],"class_list":["post-609473","issue","type-issue","status-publish","has-post-thumbnail","hentry","wpautop","entry"],"acf":{"mongo_id":"e5ff2a68-8326-42ae-9a3e-fa272b6f3aeb","teaser":"PMI down, optimism up | Goodbye, two-hour blackouts? | FX reserves flat | Egypt higher ed hub?","photo_url":"https:\/\/ent.news\/2023\/11\/262.jpg"},"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v27.1 (Yoast SEO v27.1.1) - https:\/\/yoast.com\/product\/yoast-seo-premium-wordpress\/ -->\n<title>Egypt to privatize airport management, Madbouly says - EnterpriseAM Egypt<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/enterpriseam.com\/egypt\/issues\/egypt-to-privatize-airport-management-madbouly-says\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" 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