{"id":609640,"date":"2023-11-08T00:00:00","date_gmt":"2023-11-08T00:00:00","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/?post_type=issue&#038;p=609640"},"modified":"2025-12-17T01:50:27","modified_gmt":"2025-12-17T01:50:27","slug":"fresh-whispers-from-the-privatization-program","status":"publish","type":"issue","link":"https:\/\/enterpriseam.com\/egypt\/issues\/fresh-whispers-from-the-privatization-program\/","title":{"rendered":"Fresh whispers from the privatization program"},"content":{"rendered":"<section id=\"609642\" 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=\"609642\">\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\/08\/your-uber-commute-is-now-going-to-cost-you-a-little-more\/\">\r\n                            Your Uber commute is now going to cost you a little more following fuel price hikes                        <\/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\/08\/your-uber-commute-is-now-going-to-cost-you-a-little-more\/\" target=\"_blank\">\n                    Open in new tab                    <!-- 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data-attachment-id=\"609643\" data-permalink=\"https:\/\/enterpriseam.com\/egypt\/2023\/11\/08\/your-uber-commute-is-now-going-to-cost-you-a-little-more\/390-jpg-19\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2023\/11\/390.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"390.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2023\/11\/390.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2023\/11\/390.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-609642\" class=\"content-area-description single-story post-609642 post type-post status-publish format-standard has-post-thumbnail hentry category-what-were-tracking-today tag-energy tag-enterpriseam tag-fuel-prices tag-ride-hailing tag-transport tag-uber tag-what-were-tracking-today wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<aside>\t\t\t<div\r\n\t\t\t\t\t\t\t\tclass=\"newspack-popup-container newspack-popup hidden  newspack-inline-popup  newspack-lightbox-no-border   \"\r\n\t\t\t\trole=\"button\"\r\n\t\t\t\ttabindex=\"0\"\r\n\t\t\t\tstyle=\"background-color:#FFFFFF;color:#000\"\r\n\t\t\t\tid=\"id_27645\"\r\n\t\t\t\tdata-segments=\"\"\r\n\t\t\t\tdata-frequency=\"0,0,0,month\"\r\n\t\t\t>\r\n\t\t\t\t\n<div class=\"wp-block-group has-light-gray-background-color has-background\" style=\"padding-top:0px;padding-right:0px;padding-bottom:0px;padding-left:0px\"><div class=\"wp-block-group__inner-container is-layout-constrained wp-container-core-group-is-layout-ef38739e wp-block-group-is-layout-constrained\">\n<div class=\"wp-block-group is-content-justification-center is-nowrap is-layout-flex wp-container-core-group-is-layout-94bc23d7 wp-block-group-is-layout-flex\">\n<p class=\"f-graphik\" style=\"font-size:14px\">Together with<\/p>\n\n\n<div class=\"wp-block-image\">\n<figure class=\"aligncenter size-full\"><img decoding=\"async\" src=\"https:\/\/s3.amazonaws.com\/resources.inktankir.com\/internal\/27482.svg\" alt=\"\" class=\"wp-image-27482\"\/><\/figure>\n<\/div><\/div>\n<\/div><\/div>\n\t\t\t<\/div>\r\n\t\t<\/aside>\n<figure class=\"wp-block-audio mb-0\"><audio controls preload=\"metadata\" src=\"https:\/\/s3.us-east-1.amazonaws.com\/ent.news\/audio\/2023\/11\/.0919c437-006f-4663-98c6-94eec8b550ff.mp3\"><\/audio><\/figure><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Good morning, friends. <\/strong>We start off this morning with whispers from state privatization program \u2014 and readers will want to pay close attention to the Madbouly government\u2019s legislative priorities, which include not just incentives for green hydrogen, but also a reboot of the controversial labor act. <\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\">^^ We have the rundown on all of this and more here in What We\u2019re Tracking Today and in the news well, below.<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>FROM THE RUMOR MILL-<\/strong><\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"> <strong>#1- ADQ might have an EgyptAlum acquisition in its sights: <\/strong>Abu Dhabi\u2019s wealth fund ADQ is reportedly mulling over acquiring up to a 30% stake in EGX-listed Egypt Aluminum (EgyptAlum) from the Holding Company for Metallurgical Industries, writes <a target=\"_blank\" href=\"https:\/\/bit.ly\/3SxaE3m\" style=\"\" rel=\"noopener\">Al Mal<\/a>, citing sources it says have knowledge of the matter. Metallurgical Industries is EgyptAlum\u2019s largest shareholder with a 89.8% stake and has been trying to <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/123c668b-41e9-4f72-a7eb-46cef7541a55\" style=\"\" rel=\"noopener\">sell off<\/a> shares in many of its companies and <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/42406cc2-cd8c-405f-aeca-19a468f68d9b\" style=\"\" rel=\"noopener\">launch<\/a> IPOs to raise money for the state\u2019s <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/e8a0da43-f922-4a49-b3a9-839f397f8ce4\" style=\"\" rel=\"noopener\">privatization program<\/a>.<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>ADQ might have competition: <\/strong>Although ADQ has not made an official offer, according to a bourse <a target=\"_blank\" href=\"https:\/\/ent.news\/2023\/11\/348.pdf\" style=\"\" rel=\"noopener\">disclosure (pdf)<\/a> by EgyptAlum, other Gulf entities and specifically Qatar are interested in grabbing a part of the company, the local outlet quotes its source as saying.<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"> <strong>#2- Is a strategic stake sale in Heliopolis Housing back on the table?<\/strong> The government is considering selling a stake in Heliopolis Housing and Development and has hired NI Capital to offer a valuation ahead of a potential sale, <a target=\"_blank\" href=\"https:\/\/www.alborsaanews.com\/2023\/11\/07\/1732014\" style=\"\" rel=\"noopener\">Al Borsa<\/a> reported yesterday, citing sources it said were close to the matter. Local and Gulf investors have lodged interest in the company, which the government reportedly considers one of the easiest state-owned firms to exit. <\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Remember:<\/strong> HHD tried to bring a strategic investor on board in 2020 but <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/d4e76c61-5304-40c6-ac6f-74ab0888782a\" style=\"\" rel=\"noopener\">failed to find a buyer<\/a>. <\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>WATCH THIS SPACE- <\/strong><strong>AD Ports looks set to take over management of Safaga Port:<\/strong> The final contracts for the <a target=\"_blank\" href=\"https:\/\/www.adportsgroup.com\/en\/news-and-media\/2023\/03\/18\/ad-ports-group-signs-a-30-year-concession-agreement-to-develop-and-operate-safaga-port-in-egypt\" style=\"\" rel=\"noopener\">30-year concession agreement<\/a> handing Abu Dhabi Ports the reins on the construction, management, and operation of the multipurpose Red Sea Safaga Port will be signed \u201cwithin weeks,\u201d Saif Al Mazrouei, the group\u2019s ports chief, told <a target=\"_blank\" href=\"https:\/\/tinyurl.com\/3fc4eztt\" style=\"\" rel=\"noopener\">Al Arabiya<\/a> yesterday. <\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Background:<\/strong> Under the initial agreement <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/4018d1e3-d7ae-4b4e-8c85-93420e44e487\" style=\"\" rel=\"noopener\">signed in March<\/a>, the Emirati port developer will invest up to USD 200 mn to establish the terminal, which is expected to be operational in 2Q 2025. <\/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>PSA-<\/strong><strong>Your Uber commute is now going to cost you a little more:<\/strong> Ride-hailing service app Uber has raised its prices by 10% in Cairo and Alexandria on the back of <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/bdb1778c-42af-4168-bf2b-b59955a959ad\" style=\"\" rel=\"noopener\">fuel price hikes<\/a> on Friday, <a target=\"_blank\" href=\"https:\/\/bit.ly\/49mcU3b\" style=\"\" rel=\"noopener\">Al Mal<\/a> reports, citing messages sent to the company\u2019s drivers informing them of the change.<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Nobody likes price hikes, but Uber <\/strong><strong>drivers<\/strong><strong> shouldn\u2019t have to foot the bill alone: <\/strong>Like the rest of us, drivers working for ride hailing apps are now spending 14% more on gasoline to fill up their tank after Friday\u2019s hike and those that use compressed natural gas are facing a 22% uptick in their fuel bill. <strong>Ride-sharing app Careem also raised prices by 10%<\/strong> for the same reason on the day of the fuel price hike, according to <a target=\"_blank\" href=\"https:\/\/bit.ly\/471scJg\" style=\"\" rel=\"noopener\">Al Mal<\/a>.<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>HAPPENING TODAY-<\/strong><\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><a id=\"wwtt2\"><\/a> <strong>#1- Maait in Turkey<\/strong> Finance Minister Mohamed Maait <a target=\"_blank\" href=\"https:\/\/tinyurl.com\/tw7mwz5z\" style=\"\" rel=\"noopener\">is in Istanbul<\/a> today to attend the Turkish-Arab Economic Forum.<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><a id=\"wwtt3\"><\/a> <strong>#2- <\/strong><strong><a target=\"_blank\" href=\"https:\/\/trans-mea.com\" style=\"\" rel=\"noopener\">TransMEA 2023<\/a><\/strong><strong> wraps up at the Egypt International Exhibition Center:<\/strong> The four-day transport, logistics and infrastructure conference brings together thousands of industry leaders, experts and policymakers to discuss developments in the sector. We\u2019ve got full coverage of yesterday\u2019s events in this morning\u2019s news well below.<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>HAPPENING TOMORROW-<\/strong><\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>#1- Inflation figures are out:<\/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>#2- The National Elections <\/strong><strong>Authority <\/strong><strong><a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/20901fba-a045-44a2-956f-df875f2088fd\" style=\"\" rel=\"noopener\">will announce the final list of presidential candidates<\/a><\/strong> on Thursday, 9 November. The current list includes:<\/p><ul>\n<li>President Abdel Fattah El Sisi<\/li>\n<li>Hazem Omar (Republican People\u2019s Party)<\/li>\n<li>Abdel Sanad Yamama (Al Wafd)<\/li>\n<li>Farid Zahran (Egyptian Social Democratic Party)<\/li>\n<\/ul><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Remember:<\/strong> The nation goes to the polls on 10-12 December. Egyptian expats will vote 10 days earlier on 1-3 December.<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>#3- It\u2019s Egypts turn to host the Intra-African Trade Fair:<\/strong> Businesspeople and policy makers from across the continent are touching down in Cairo for the <a target=\"_blank\" href=\"https:\/\/tinyurl.com\/22zbjkym\" style=\"\" rel=\"noopener\">Intra-African Trade Fair<\/a> that is kicking off at the Egypt International Exhibition Center complex tomorrow and will run until Wednesday.<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>HAPPENING NEXT WEEK-<\/strong><\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><a id=\"wwtt4\"><\/a> <strong>#1- The Arab League is getting together on Saturday <\/strong>for an emergency meeting in Riyadh called for by Palestinian President Mahmoud Abbas. The league\u2019s main goal at the moment is to establish a ceasefire in Gaza, Palestinian presidential advisor Mahmoud Al Habbash previously told <a target=\"_blank\" href=\"https:\/\/tinyurl.com\/3r8e3jmh\" style=\"\" rel=\"noopener\">AWP<\/a>. <\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>#2- Followed a day after by the Organization of Islamic Cooperation on Sunday<\/strong> for an extraordinary Islamic in the Saudi capital to \u201cdiscuss the brutal Israeli aggression against the Palestinian people.\u201d it said in a <a target=\"_blank\" href=\"https:\/\/www.oic-oci.org\/topic\/?t_id=39875&amp;t_ref=26739&amp;lan=en\" style=\"\" rel=\"noopener\">statement<\/a>. <\/p><div class=\"row\">\n<div class=\"col-md-12 subscribe-box-panel\">\n<div class=\"\">\n<div class=\"title\">\n<h4 class=\"fw-lighter mb-10\">\n   Get <b style=\"font-weight: 700\">Enterprise<\/b> daily<br>\n  <\/h4>\n<\/div>\n<p class=\"mb-10\">The roundup of news and trends that move your markets and shape corporate agendas delivered straight to your inbox.<\/p>\n<p>  <a target=\"_blank\" href=\"egypt\/en\/user\/NewsLetters\" type=\"button \" class=\"btn-green px-3 d-flex align-items-center\" rel=\"noopener\">Subscribe here<\/a>\n <\/p><\/div>\n<\/div>\n<\/div><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>THE BIG STORY ABROAD remains Israel\u2019s war on Gaza:<\/strong> We have the latest in this morning\u2019s news well, below. (<a target=\"_blank\" href=\"https:\/\/apnews.com\/article\/hezbollah-israel-hamas-war-lebanon-iran-493e9290bc796fd90a9220bab229cd37\" style=\"\" rel=\"noopener\">Associated Press<\/a> | <a target=\"_blank\" href=\"https:\/\/www.reuters.com\/world\/middle-east\/israel-targets-hamas-tunnels-after-encircling-gaza-city-2023-11-08\/\" style=\"\" rel=\"noopener\">Reuters<\/a> | <a target=\"_blank\" href=\"https:\/\/www.bloomberg.com\/news\/features\/2023-11-07\/israel-hamas-war-gazans-run-out-of-food-fuel-and-hope\" style=\"\" rel=\"noopener\">Bloomberg<\/a> | <a target=\"_blank\" href=\"https:\/\/www.ft.com\/content\/bdd6b3c7-baae-4cc6-81e7-e6b42504d18d\" style=\"\" rel=\"noopener\">Financial Times<\/a> | <a target=\"_blank\" href=\"https:\/\/www.nytimes.com\/2023\/11\/07\/us\/politics\/reoccupying-gaza-us-israel.html\" style=\"\" rel=\"noopener\">New York Times<\/a> | <a target=\"_blank\" href=\"https:\/\/www.washingtonpost.com\/world\/2023\/11\/07\/israel-gaza-war-hamas-palestinians\/\" style=\"\" rel=\"noopener\">Washington Post<\/a> | <a target=\"_blank\" href=\"https:\/\/www.wsj.com\/world\/middle-east\/netanyahu-says-israel-will-control-gaza-security-indefinitely-5979ac93\" style=\"\" rel=\"noopener\">Wall Street Journal<\/a> | <a target=\"_blank\" href=\"https:\/\/www.bbc.com\/news\/live\/world-middle-east-67339462\" style=\"\" rel=\"noopener\">BBC<\/a>)<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"> <strong>Saudi Arabia is still open to normalizing ties with the Israelis:<\/strong> That\u2019s according to Investment Minister Khalid Al Falih, who said at a <a target=\"_blank\" href=\"https:\/\/www.bloomberg.com\/news\/articles\/2023-11-07\/israel-latest-conflict-at-month-mark-with-no-signs-of-slowing?srnd=premium-middle-east\" style=\"\" rel=\"noopener\">Bloomberg<\/a> event in Singapore this morning that the issue \u201cremains on the table\u201d despite the war.<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>But:<\/strong> An agreement will be \u201ccontingent on a pathway to a peaceful resolution of the Palestinian question,\u201d he said.<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>IT\u2019S A BIG MORNING IN US POLITICS <\/strong>as Democrats take home clear wins in Kentucky and Ohio \u2014 two closely watched Republican-leaning states \u2014 just as Joe Biden gets ready to kick is 2024 election campaign into high gear. The Dems are also on the verge of holding the Senate in Virginia in what pundits suggest would be a further blow to Republicans. You can follow the blow-by-blow with live blogs at the <a target=\"_blank\" href=\"https:\/\/www.washingtonpost.com\/elections\/\" style=\"\" rel=\"noopener\">Washington Post<\/a> or the <a target=\"_blank\" href=\"https:\/\/www.nytimes.com\/live\/2023\/11\/07\/us\/election-day-2023\" style=\"\" rel=\"noopener\">New York Times<\/a> or check out wall-to-wall coverage on the homepages of <a target=\"_blank\" href=\"https:\/\/www.axios.com\" style=\"\" rel=\"noopener\">Axios<\/a> and <a target=\"_blank\" href=\"https:\/\/www.politico.com\" style=\"\" rel=\"noopener\">Politico<\/a>.<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>WATCH THIS SPACE- <\/strong><strong><a target=\"_blank\" href=\"https:\/\/www.bloomberg.com\/news\/articles\/2023-11-07\/biden-briefed-on-chinese-effort-to-put-military-base-in-oman?srnd=premium-middle-east&amp;sref=mmeFTDW1\" style=\"\" rel=\"noopener\">China is reportedly angling for a military base in Oman<\/a><\/strong>and Washington is really not happy, Bloomberg reports. <\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>HELP GAZA-<\/strong><\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Want to support relief efforts in Gaza, but don\u2019t know how?<\/strong> We\u2019ve got you. More than 1 mn people in Gaza have been thrown from their homes and every human being there lacks access to food, water, and fuel amid the most intense bombardment any population has endured this century.<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The folks at Talabat are processing donations for a range of Gaza relief appeals <\/strong>by charities including the Egyptian Food Bank and Misr El Kheir. Pay in EGP using your credit card.<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Or check out <\/strong><strong><a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/edition\/am\/f8ce0f50-10c2-4cca-8e6f-64c32a5c90b7\" style=\"\" rel=\"noopener\">our list of charities<\/a><\/strong><strong> to which you can make direct donations<\/strong> via bank deposit and \/ or Fawry.<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>MARKET WATCH-<\/strong><\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"> <a id=\"wwtt5\"><\/a> <strong>Oil prices dip to three-month lows: <\/strong>Crude prices fell more than4% yesterday, with Brent crude prices dipping to just USD 81.61 a barrel, marking its lowest price since July. <\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The why:<\/strong> The oil market was responding to the release of weak trade data from China and renewed doubts about whether the Federal Reserve has finished raising interest rates, according to <a target=\"_blank\" href=\"https:\/\/www.bloomberg.com\/news\/articles\/2023-11-07\/oil-holds-gains-as-opec-supply-curbs-balanced-by-demand-woes\" style=\"\" rel=\"noopener\">Bloomberg<\/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\/2020\/01\/Web-view-01.jpg\"><\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>*** It\u2019s Hardhat day \u2014 your weekly briefing of all things infrastructure in Egypt:<\/strong> Enterprise\u2019s industry vertical focuses each Wednesday on infrastructure, covering everything from energy, water, transportation, and urban development, as well as social infrastructure such as health and education. <\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>In today\u2019s issue:<\/strong> Breaking down the agreements signed at TransMEA 2023<\/p>\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/energy\/\">energy<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/fuel-prices\/\">Fuel prices<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/ride-hailing\/\">ride-hailing<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/transport\/\">transport<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/uber\/\">Uber<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/what-were-tracking-today\/\">What We&#039;re Tracking Today<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                    <\/div>\n    <\/div>\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"609644 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=\"609644\">\r\n            \r\n            <div class=\"story__body\">\r\n\r\n                <a href=\"https:\/\/enterpriseam.com\/egypt\/2023\/11\/08\/609644\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-609644\" class=\"content-area-description single-story post-609644 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.somabayholidays.com\" target=\"_blank\" rel=\"noopener\"><img data-recalc-dims=\"1\" decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2023\/11\/306.jpg?ssl=1\"><\/a><\/span><\/p>\n<div class=\"grouped-tags\">\n<p><span>Discover your dream vacation: handpicked villas, chalets and apartments for your perfect getaway &mdash; let us make your winter sunshine escape unforgettable. For more information and booking inquiries, please call +201556005693, email us at info@stayr.somabay.com, or visit our website <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"http:\/\/www.somabayholidays.com\" style=\"\">www.somabayholidays.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=\"609645\" 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=\"609645\">\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\">Energy<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2023\/11\/08\/the-wind-in-your-face\/\">\r\n                            ACWA and Hassan Allam to start construction of 1.1 GW wind farm early 2024                        <\/a>\r\n                    <\/h3>\r\n\r\n                    \r\n\t\t\t\t\t\n<div class=\"cta\">\n    <div class=\"cta__btn share-dropdown-cta dropdown-toggle-btn\" style=\"position:relative\">\n        <img decoding=\"async\" src=\"https:\/\/ent.news\/internal\/408834.svg\" alt=\"\">\n        Share Story\n        <!-- Dropdown Menu -->\n        <ul class=\"share-menu\">\n            <li class=\"list-inline-item\">\n                <a href=\"https:\/\/enterpriseam.com\/egypt\/2023\/11\/08\/the-wind-in-your-face\/\" 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\/08\/the-wind-in-your-face\/')\">\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\/08\/the-wind-in-your-face\/\">\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=The wind in your face&url=https:\/\/enterpriseam.com\/egypt\/2023\/11\/08\/the-wind-in-your-face\/\">\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\/08\/the-wind-in-your-face\/&title=The wind in your face\">\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=The+wind+in+your+face+https%3A%2F%2Fenterpriseam.com%2Fegypt%2F2023%2F11%2F08%2Fthe-wind-in-your-face%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\/08\/the-wind-in-your-face\/\">\r\n                    <div class=\"photo photo--above\">\r\n                        <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2023\/11\/369.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"609646\" data-permalink=\"https:\/\/enterpriseam.com\/egypt\/2023\/11\/08\/the-wind-in-your-face\/369-jpg-14\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2023\/11\/369.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"369.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2023\/11\/369.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2023\/11\/369.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-609645\" class=\"content-area-description single-story post-609645 post type-post status-publish format-standard has-post-thumbnail hentry category-energy tag-acwa-power tag-energy tag-enterpriseam tag-renewables tag-windpower 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\/.0731e3b1-e440-4ce7-ac62-96307b98e16c.mp3\"><\/audio><\/figure>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"> <strong>ACWA Power and Hassan Allam are going to start building the region\u2019s largest wind farm <\/strong><strong>in 2024: <\/strong>The partners expect to break ground on the USD 1.5 bn, 1.1 GW wind farm in the Gulf of Suez \u2014 the largest of its kind in the Middle East \u2014 early next year, <a target=\"_blank\" href=\"https:\/\/tinyurl.com\/3ya8jy3p\" style=\"\" rel=\"noopener\">Al Mal<\/a> reported, citing officials at ACWA. It will take three years to build the farm in two phases, the daily reports.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Remember:<\/strong> ACWA Power and Hassan Allam Holding <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/031ecccd-f816-4657-ae61-58d9c32a706d\" style=\"\" rel=\"noopener\">signed<\/a> a 25-year power purchaseagreement with the Egyptian Electricity Transmission Company (EETC) last year to develop the project under a build-own-operate framework. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Where\u2019s the money coming from?<\/strong> Some 70-75% of the funding will come through loans and the remainder will be self-financed by the investors, according to local media <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/f41c35d7-5b75-4306-89c7-0a716849a97f\" style=\"\" rel=\"noopener\">reported<\/a> in November. The project is expected to reach financial close by 4Q 2024.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The farm is getting the attention of investors: <\/strong>The European Bank for Reconstruction and Development (EBRD) is eyeing a potential investment in the Suez facility, Harry Boyd-Carpenter, the EBRD\u2019s managing director for climate strategy and delivery, previously <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/b7c30f5c-e47b-4e2c-8596-bba8314fc4dc\" style=\"\" rel=\"noopener\">told Enterprise<\/a>. The Sovereign Fund of Egypt <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/f41c35d7-5b75-4306-89c7-0a716849a97f\" style=\"\" rel=\"noopener\">expressed<\/a> last year interest in potentially acquiring a 10% stake. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The Madbouly government wants to make a massive investment in wind: <\/strong>Masdar <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/252ef9cf-e4e2-4b90-a08e-a214923183f9\" style=\"\" rel=\"noopener\">signed a land allocation agreement<\/a> with the Electricity Ministry earlier this year for a planned 10-GW mega wind farm. That farm and a separate 10 GW facility being built by Masdar \/ Infinity \/ Hassan Allam will each be the world\u2019s largest wind farms when complete. In parallel, Scatec is looking to build a 5 GW wind farm.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>ACWA is already a <\/strong><strong>significant<\/strong><strong> player in Egypt\u2019s renewable sector: <\/strong>The company\u2019s 200 MW <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/320d303f-9f12-4b87-b16f-4cbe5615b532\" style=\"\" rel=\"noopener\">Kom<\/a><a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/320d303f-9f12-4b87-b16f-4cbe5615b532\" style=\"\" rel=\"noopener\">Ombo solar power plant<\/a> last April got USD 114 mn in backing from a consortium of international lenders led by the EBRD. The company also has <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/1e896f40-de35-4eb5-a5af-794da2447234\" style=\"\" rel=\"noopener\">minority stakes<\/a> in three plants in Benban and an upcoming project with the EETC to <a target=\"_blank\" href=\"https:\/\/enterprise.press\/stories\/2018\/11\/04\/acwa-hassan-allam-ink-ppa-for-usd-2-3-bn-power-plant-2\/\" style=\"\" rel=\"noopener\">convert<\/a> an electricity plant in Luxor to renewable energy.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>ICYMI- We have big renewables ambitions: <\/strong>Egypt over the summer <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/06e7e381-df4d-4d89-94c7-428dba34d5a3\" style=\"\" rel=\"noopener\">ramped up<\/a> its renewables target to 42% of the country\u2019s energy mix by 2030 instead of 2035 and upgraded its emissions reduction goal to 80 mn tons by 2030 from a previous goal of 70 mn tons. The government is aiming to produce <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/46eb0c0b-2e62-47e0-8423-05c5359f3275\" style=\"\" rel=\"noopener\">42% of its energy<\/a> from renewable sources by 2030 and <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/04dda22d-b376-4d76-bf9a-50f917a5ac39\" style=\"\" rel=\"noopener\">60% by 2040<\/a>.<\/p>\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/acwa-power\/\">ACWA Power<\/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\/renewables\/\">renewables<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/windpower\/\">windpower<\/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=\"609647\" 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=\"609647\">\r\n            \r\n                <div class=\"issue-story-header text-center\">\r\n                    <div class=\"index-number\">3<\/div>\r\n\r\n                    <p class=\"f-graphik\">WAR WATCH<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2023\/11\/08\/fighting-in-gaza-city-as-israel-widens-ground-offensive-cia-head-in-egypt\/\">\r\n                            Fighting in Gaza City as Israel widens ground offensive; CIA head in Egypt                        <\/a>\r\n                    <\/h3>\r\n\r\n                    \r\n\t\t\t\t\t\n<div class=\"cta\">\n    <div class=\"cta__btn share-dropdown-cta dropdown-toggle-btn\" style=\"position:relative\">\n        <img decoding=\"async\" src=\"https:\/\/ent.news\/internal\/408834.svg\" alt=\"\">\n        Share Story\n        <!-- Dropdown Menu -->\n        <ul class=\"share-menu\">\n            <li class=\"list-inline-item\">\n                <a href=\"https:\/\/enterpriseam.com\/egypt\/2023\/11\/08\/fighting-in-gaza-city-as-israel-widens-ground-offensive-cia-head-in-egypt\/\" 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\/08\/fighting-in-gaza-city-as-israel-widens-ground-offensive-cia-head-in-egypt\/')\">\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\/08\/fighting-in-gaza-city-as-israel-widens-ground-offensive-cia-head-in-egypt\/\">\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=Fighting in Gaza City as Israel widens ground offensive; 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The spokesperson for Hamas\u2019 military wing, Abu Ubaida, <a target=\"_blank\" href=\"https:\/\/ninanews.com\/Website\/News\/Details?Key=1088542\" style=\"\" rel=\"noopener\">said<\/a> that its forces had destroyed 15 Israeli military vehicles on the outskirts of the city, including at the Shati Camp where <a target=\"_blank\" href=\"https:\/\/tinyurl.com\/yckswtyf\" style=\"\" rel=\"noopener\">intense fighting<\/a> has been taking place. Israeli Prime Minister Benjamin Netanyahu said that the IDF had killed \u201cthousands of terrorists.\u201d Neither of the sides\u2019 claims have been verified and neither has disclosed casualty figures. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>YESTERDAY IN NUMBERS-<\/strong><\/p>\n<ul>\n<li><strong>10,328:<\/strong> The number of Gazans who have been killed since 7 October. (<a target=\"_blank\" href=\"https:\/\/english.alarabiya.net\/News\/middle-east\/2023\/11\/07\/Ministry-At-least-10-328-including-4-237-children-killed-in-Israel-strikes-on-Gaza\" style=\"\" rel=\"noopener\">Al Arabiya<\/a>) <\/li>\n<li><strong>4,237:<\/strong> The number of children who have died in Gaza over the past 32 days. (<a target=\"_blank\" href=\"https:\/\/english.alarabiya.net\/News\/middle-east\/2023\/11\/07\/Ministry-At-least-10-328-including-4-237-children-killed-in-Israel-strikes-on-Gaza\" style=\"\" rel=\"noopener\">Al Arabiya<\/a>) <\/li>\n<li><strong>93:<\/strong> The number of trucks carrying aid crossed the border from Egypt into Gaza yesterday. (<a target=\"_blank\" href=\"https:\/\/twitter.com\/palestinercs\/status\/1721810883242787235\" style=\"\" rel=\"noopener\">Palestinian Red Crescent<\/a>)<\/li>\n<li><strong>569: <\/strong>The number of trucks that have entered Gaza since 7 October. Gaza received 500 trucks <strong>every day<\/strong> prior to the war. (<a target=\"_blank\" href=\"https:\/\/twitter.com\/palestinercs\/status\/1721810883242787235\" style=\"\" rel=\"noopener\">Palestinian Red Crescent<\/a>)<\/li>\n<li><strong>19:<\/strong> The number of Palestinians who entered Egypt yesterday to receive medical treatment. (<a target=\"_blank\" href=\"https:\/\/www.reuters.com\/world\/middle-east\/gaza-evacuees-continue-move-through-rafah-crossing-after-re-opening-2023-11-07\/\" style=\"\" rel=\"noopener\">Reuters<\/a>)<\/li>\n<li><strong>500+:<\/strong> The number of foreign nationals and dual citizens that were evacuated from Gaza yesterday into Egypt, including the first Canadians to cross. (<a target=\"_blank\" href=\"https:\/\/www.reuters.com\/world\/middle-east\/gaza-evacuees-continue-move-through-rafah-crossing-after-re-opening-2023-11-07\/\" style=\"\" rel=\"noopener\">Reuters<\/a> | <a target=\"_blank\" href=\"https:\/\/www.theglobeandmail.com\/politics\/article-israel-canadians-evacuate-gaza\/\" style=\"\" rel=\"noopener\">Globe and Mail<\/a>)<\/li>\n<li><strong>500k+:<\/strong> The number of Palestinians in north Gaza that are \u201con the brink of starvation\u201d due to Israel\u2019s siege. (<a target=\"_blank\" href=\"https:\/\/actionaid.org\/news\/2023\/northern-gaza-residents-struggle-brink-starvation-and-disease-food-and-water-supplies\" style=\"\" rel=\"noopener\">ActionAid<\/a>)<\/li>\n<\/ul>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>THE AID EFFORT- <\/strong>The <strong>UAE<\/strong> is <a target=\"_blank\" href=\"https:\/\/wam.ae\/a\/api6oco\" style=\"\" rel=\"noopener\">setting up a field hospital<\/a> in Gaza | <strong>France<\/strong> is in talks with Egyptian authorities to <a target=\"_blank\" href=\"https:\/\/www.reuters.com\/world\/france-says-its-talks-with-egypt-setting-up-field-hospital-gaza-wounded-2023-11-06\/\" style=\"\" rel=\"noopener\">set up a military medical facility<\/a> | <strong>Jordan&nbsp;<\/strong><a target=\"_blank\" href=\"https:\/\/www.nytimes.com\/2023\/11\/06\/world\/middleeast\/israel-jordan-aid.html\" style=\"\" rel=\"noopener\">airdropped medical aid<\/a> to Gaza&nbsp;<span style=\"background-color: transparent;\">|<\/span><span style=\"background-color: transparent;\">&nbsp;<\/span><strong style=\"background-color: transparent;\">Turkey <\/strong><span style=\"background-color: transparent;\">has permission to sail <\/span><a target=\"_blank\" href=\"https:\/\/www.trtworld.com\/turkiye\/turkish-ships-loaded-with-field-hospitals-for-gaza-granted-entry-into-egypt-ports-15698325\" rel=\"noopener\">two ships loaded with field hospitals and medical supplies<\/a><span style=\"background-color: transparent;\"> into port in Egypt.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>DIPLO-<\/strong><strong>Washington is still pushing for a breakthrough on Israeli hostages:<\/strong> CIA Director William Burns has been in Israel and Egypt this week as part of a tour of regional capitals <a target=\"_blank\" href=\"https:\/\/www.axios.com\/2023\/11\/05\/cia-burns-israel-qatar-egypt-visit-gaza-war\" style=\"\" rel=\"noopener\">reportedly to<\/a> secure the release of more of Hamas\u2019 240+ hostages. <strong>Burns was in Cairo yesterday for talks with President Abdel Fattah El Sisi<\/strong>, a day after a <a target=\"_blank\" href=\"https:\/\/www.nytimes.com\/2023\/11\/05\/us\/politics\/william-burns-israel-middle-east-trip.html\" style=\"\" rel=\"noopener\">visit to Tel Aviv<\/a>. A readout from <a target=\"_blank\" href=\"https:\/\/tinyurl.com\/cernp22u\" style=\"\" rel=\"noopener\">Ittihadiya<\/a> gave little away, noting only that the two sides discussed the need for a humanitarian ceasefire. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>El Sisi&nbsp;<\/strong><a target=\"_blank\" href=\"https:\/\/tinyurl.com\/38n76nwj\" style=\"\" rel=\"noopener\">held a phone conversation<\/a> with French President <strong>Emmanuel Macron<\/strong> | Foreign Minister <strong>Sameh Shoukry&nbsp;<\/strong><a target=\"_blank\" href=\"https:\/\/tinyurl.com\/4drdshs3\" style=\"\" rel=\"noopener\">talked with<\/a> his <strong>Irish<\/strong>, <strong>Norwegian<\/strong> and <strong>Cypriot<\/strong> counterparts | <strong>Shoukry&nbsp;<\/strong><a target=\"_blank\" href=\"https:\/\/tinyurl.com\/y4u3bsum\" style=\"\" rel=\"noopener\">met<\/a> the UN human rights commissioner <strong>Volker Turk<\/strong> | <strong>G7 diplomats&nbsp;<\/strong><a target=\"_blank\" href=\"https:\/\/apnews.com\/article\/japan-us-g7-blinken-gaza-russia-834aa74998f4c1fa92f2d3326831345a\" style=\"\" rel=\"noopener\">are meeting in Japan<\/a> to discuss the conflict | <strong>Russia:&nbsp;<\/strong><a target=\"_blank\" href=\"https:\/\/www.timesofisrael.com\/liveblog_entry\/far-right-minister-nuking-gaza-is-an-option-population-should-go-to-ireland-or-deserts\/\" style=\"\" rel=\"noopener\">Israel nuke comment<\/a> raises \u201c <a target=\"_blank\" href=\"https:\/\/www.reuters.com\/world\/russia-says-israeli-remark-nuclear-weapons-raises-many-questions-2023-11-07\/\" style=\"\" rel=\"noopener\">huge number of questions<\/a>.\u201d <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>FRICTION IN THE SPECIAL RELATIONSHIP?<\/strong> Differences between the US and Israel about the prosecution of the war have been aired in public this week, with the two sides evidently not on the same page about the need for a pause in the fighting and Netanyahu\u2019s proposal to reoccupy Gaza after the conflict. <\/p>\n<ul>\n<li><strong>Three-day pause vs one-hour pause:&nbsp;<\/strong><a target=\"_blank\" href=\"https:\/\/www.axios.com\/2023\/11\/07\/biden-netanayhu-gaza-hamas-ceasefire-pause-hostages\" style=\"\" rel=\"noopener\">Axios<\/a> reported yesterday that Biden had pressed Netanyahu to agree to a three-day pause to allow the release of hostages, a proposal that was publicly <a target=\"_blank\" href=\"https:\/\/twitter.com\/ABC\/status\/1721649384679506259\" style=\"\" rel=\"noopener\">shot down by the Israeli PM<\/a> in a televised interview just hours later. <\/li>\n<li><strong>Reoccupying Gaza:&nbsp;<\/strong>The Biden administration has also gone public with its opposition to Netanyahu\u2019s assertion that Israel will \u201cindefinitely\u201d control Gaza\u2019s security post-war. \u201cThe president still believes that a reoccupation of Gaza by Israeli forces is not good. It\u2019s not good for Israel, not good for the Israeli people,\u201d White House spokesperson John Kirby <a target=\"_blank\" href=\"https:\/\/edition.cnn.com\/2023\/11\/07\/politics\/white-house-israel-gaza\/index.html\" style=\"\" rel=\"noopener\">told CNN<\/a> yesterday.<\/li>\n<\/ul>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>US: *shrugs shoulders*.<\/strong> The reaction to the disagreements from Biden administration officials and the US press has been to cast Washington as a powerless actor unable to influence Israeli decision-making. A number of articles, including in the <a target=\"_blank\" href=\"https:\/\/www.nytimes.com\/2023\/11\/06\/us\/politics\/biden-israel-gaza-ukraine.html\" style=\"\" rel=\"noopener\">New York Times<\/a>, the <a target=\"_blank\" href=\"https:\/\/www.washingtonpost.com\/politics\/2023\/11\/05\/white-house-resigned-israel-onslaught-gaza\/\" style=\"\" rel=\"noopener\">Washington Post<\/a>, and <a target=\"_blank\" href=\"https:\/\/www.reuters.com\/world\/middle-east\/us-struggles-curb-israels-gaza-bombardment-despite-pressure-home-abroad-2023-11-06\/\" style=\"\" rel=\"noopener\">Reuters<\/a>, have discussed the \u201climits of US leverage\u201d and the \u201cfew options\u201d available to effect the war. \u201cThey\u2019re watching a train wreck, and they can\u2019t do anything about it, and the trains are speeding up,\u201d one source told the Post. \u201cThe train wreck is in Gaza, but the explosion is in the region.\u201d<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Limited leverage?<\/strong> The US curbing the <a target=\"_blank\" href=\"https:\/\/edition.cnn.com\/2023\/11\/06\/politics\/us-israel-weapons-sale-transfer\/index.html\" style=\"\" rel=\"noopener\">huge arms transfers<\/a> to Israel, withholding some of its USD 3.8 bn in annual military aid, and refusing to exercise its UN Security Council veto might focus some minds in Tel Aviv.<\/p>\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/abdel-fattah-el-sisi\/\">Abdel Fattah El Sisi<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/diplomacy\/\">DIPLOMACY<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/egypt-france-relations\/\">Egypt-France relations<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/egypt-us-relations\/\">Egypt-US relations<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/emmanuel-macron\/\">Emmanuel Macron<\/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             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class=\"index-number\">4<\/div>\r\n\r\n                    <p class=\"f-graphik\">LEGISLATION WATCH<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2023\/11\/08\/privatization-green-hydrogen-labor-law-feature-prominently-as-madbouly-government-talks-up-its-legislative-agenda\/\">\r\n                            Privatization, green hydrogen, labor law code feature prominently as Madbouly government talks up its legislative agenda                        <\/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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decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2023\/11\/376.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"609650\" data-permalink=\"https:\/\/enterpriseam.com\/egypt\/2023\/11\/08\/privatization-green-hydrogen-labor-law-feature-prominently-as-madbouly-government-talks-up-its-legislative-agenda\/376-jpg-19\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2023\/11\/376.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"376.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2023\/11\/376.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2023\/11\/376.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-609649\" class=\"content-area-description single-story post-609649 post type-post status-publish format-standard has-post-thumbnail hentry category-legislation-watch tag-building-code tag-enterpriseam tag-green-hydrogen tag-legislation-watch tag-state-privatization-program tag-unified-building-code 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\/.96bb2be7-2da0-402b-a6ed-7ccd5438b46c.mp3\"><\/audio><\/figure>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"> <strong>A busy legislative cycle with 58 \u2018priority\u2019 draft laws: <\/strong>The Madbouly cabinet reviewed yesterday some 58 draft laws on its priority list ahead of submitting them to the parliament at a future date, according to a cabinet <a target=\"_blank\" href=\"https:\/\/tinyurl.com\/5v4z8628\" style=\"\" rel=\"noopener\">statement<\/a>. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Unsurprisingly, the state\u2019s privatization program got a shout-out:<\/strong> Draft laws to help facilitate <strong>privatization and the sale of state assets <\/strong>to investors under the state ownership policy document got a mention from Parliamentary Affairs Minister Alaa El Din Fouad. With an ambitious <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/e8a0da43-f922-4a49-b3a9-839f397f8ce4\" style=\"\" rel=\"noopener\">plan<\/a> in place to raise USD 5 bn from October 2023 to June 2024 and a projected USD 29 bn in <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/c4c99b98-6ac1-44ac-92fc-525f702f20e4\" style=\"\" rel=\"noopener\">debt repayments<\/a> due in 2024, we\u2019re not surprised it got a special mention. Proposed amendments to expand the jurisdiction of the <strong>economic courts bill<\/strong> so they can settle final higher-value appeals also got some attention.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The Madbouly government is still keen on its green hydrogen ambitions: <\/strong>Draft laws to grant incentives to green hydrogen investors, such as tax breaks under a new green hydrogen law, are also on cabinet\u2019s priority list. That makes good sense: green hydrogen projects don\u2019t just mean green energy, they means a whole lot of FDI. General Authority for Investment and Freezones (GAFI) head Hossam Heiba <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/0d1ce8ec-0246-408a-9945-5102f34cdbf8\" style=\"\" rel=\"noopener\">recently said<\/a> that our green energy sector in Egypt is expected to receive more than USD 50 bn over the coming 10 years. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>WATCH THIS SPACE- The draft labor law is also still on the priority list.<\/strong> The government <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/4b600e48-3b3b-4e83-be04-d646a2df05b6\" style=\"\" rel=\"noopener\">pulled the bill<\/a> from the House of Representatives earlier this year to redraft it after backlash from the business community, which said the original version was <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/8154336d-5f19-46c1-8a9c-ac176dc579c0\" style=\"\" rel=\"noopener\">lopsided in favor of workers<\/a>. Prior to the redraft, the bill would have introduced new labor rights, including legislating mandatory annual raises, caps on working hours, and longer maternity leave and notice periods, among other things. Labor unions have also had sharp criticism of the previous version of the bill.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Home owners and developers who have violated the building code may be allowed to <\/strong><strong>reconcile with the state <\/strong>under a new act that is also on cabinet\u2019s priority list, according to Fouad. The proposed act would <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/9651d500-0b8c-4b55-86bc-b7bc90e10303\" style=\"\" rel=\"noopener\">replace<\/a> a 2019 law designed to legalize informal buildings and to prevent structures built next to the Nile from being legalized.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Draft laws to protect you on the road and at work are also priorities: <\/strong>Fouad also mentioned the draft <strong>traffic law<\/strong> to toughen penalties for traffic violations. <\/p>\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/building-code\/\">building code<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                      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src=\"https:\/\/i0.wp.com\/ent.news\/ads\/imgs\/109.jpg?ssl=1\"><\/a><\/span><\/p>\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"609652\" 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=\"609652\">\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\">Automotive<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2023\/11\/08\/will-a-new-digital-platform-and-electric-car-incentives-boost-the-auto-industry\/\">\r\n                            Will a new digital platform and electric car incentives boost the auto industry?                        <\/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\/08\/will-a-new-digital-platform-and-electric-car-incentives-boost-the-auto-industry\/\" 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=\"#\" 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class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"609653\" data-permalink=\"https:\/\/enterpriseam.com\/egypt\/2023\/11\/08\/will-a-new-digital-platform-and-electric-car-incentives-boost-the-auto-industry\/381-jpg-24\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2023\/11\/381.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"381.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2023\/11\/381.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2023\/11\/381.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-609652\" class=\"content-area-description single-story post-609652 post type-post status-publish format-standard has-post-thumbnail hentry category-automotive tag-automotive tag-el-nasr-automotive tag-enterpriseam tag-evs tag-local-assembly tag-moustafa-madbouly tag-renewables wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<figure class=\"wp-block-audio mb-0\"><audio controls preload=\"metadata\" src=\"https:\/\/s3.us-east-1.amazonaws.com\/ent.news\/audio\/2023\/11\/.b4741ce3-43b7-43d6-a6cb-98707e9af58b.mp3\"><\/audio><\/figure>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The Madbouly government wants to give auto assembly and car part manufacturing a <\/strong><strong>boost: <\/strong>Prime Minister Moustafa Madbouly met with the Supreme Council for the Automotive Industry to discuss ongoing efforts to promote the domestic assembly of vehicles and manufacturing of car parts as part of the National Automotive Industry Development Program that was <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/0a06d4ec-4025-490e-8842-45c8a9fe0d8a\" style=\"\" rel=\"noopener\">launched<\/a> in 2022, according to a Cabinet <a target=\"_blank\" href=\"https:\/\/tinyurl.com\/f4vrm4x3\" style=\"\" rel=\"noopener\">statement<\/a> yesterday. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>A localized and digitally connected auto industry: <\/strong>The meeting approved the launch of a new digital platform that will connect local car part suppliers, manufacturers, and assemblers to promote the localization of the industry. The platform that is \u201cready to launch\u201d will be managed by the state-owned fintech player e-Finance and launched in 12 weeks, according to Cabinet spokesperson Sameh El Khasin, who was quoted in the statement.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>More electric car manufacturing incentives are on their way, and they might already be<\/strong><strong> working: <\/strong>Madoubly pushed for planned incentives to promote electric car manufacturing to be sped up and put into action and for limits to fossil fuel-powered auto imports to support both our localization efforts and climate change goals. Existing EV incentives might also already be working, as Al Nasr Automotive is close to signing <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/6f0f9e19-5e30-400f-8dba-6213afd8fb58\" style=\"\" rel=\"noopener\">another<\/a> contract with a Chinese company and a local partner for the production of electric vehicles and that production lines are being modernized in preparation, a source from the Public Enterprises Ministry told Enterprise yesterday. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>LNG-powered buses with 60% local components are also on their way: <\/strong>Buses made with 60% local components that run on LNG are also on their way and a few have already rolled off the production line, our source at the Public Enterprises Ministry told us. The Transport Ministry is currently negotiating with the currently unknown company to incorporate the vehicles into its fleet, our source added.<\/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\/automotive\/\">automotive<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/el-nasr-automotive\/\">El Nasr Automotive<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/evs\/\">EVs<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/local-assembly\/\">Local assembly<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/moustafa-madbouly\/\">Moustafa Madbouly<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/renewables\/\">renewables<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                    <\/div>\n    <\/div>\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"609654\" 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=\"609654\">\r\n            \r\n                <div class=\"issue-story-header text-center\">\r\n                    <div class=\"index-number\">6<\/div>\r\n\r\n                    <p class=\"f-graphik\">Economy<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2023\/11\/08\/us-interest-hikes-are-wreaking-havoc-in-emerging-markets-and-were-unlikely-to-be-immune\/\">\r\n                            US interest hikes are wreaking havoc in emerging markets \u2014 Egypt is unlikely to be immune                        <\/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\/387.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"387.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2023\/11\/387.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2023\/11\/387.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-609654\" class=\"content-area-description single-story post-609654 post type-post status-publish format-standard has-post-thumbnail hentry category-economy tag-economy tag-emerging-markets tag-enterpriseam tag-financial-markets 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\/.3041a6e1-2302-4f98-a990-6f8db538bc00.mp3\"><\/audio><\/figure>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"> <strong>EMs are facing a \u201cnightmare\u201d from US interest rate hikes:<\/strong> An enduring period of interest rake hikes from across the pond is fuelling a \u201csilent debt crisis\u201d among many developing countries saddled with high foreign-currency debt piles, World Bank deputy chief economist Ayhan Khose warned in an interview with the <a target=\"_blank\" href=\"https:\/\/www.ft.com\/content\/b8a9fd5d-868c-41c8-b03c-e9c0cc01aecd\" style=\"\" rel=\"noopener\">Financial Times<\/a> yesterday. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>More countries are feeling the pinch:<\/strong> The sovereign debt of almost one quarter of emerging and developing countries is now trading at distressed levels (i.e. 10 percentage points or more higher than rates on US government bonds), the World Bank said. In 2019, the proportion of EMs with distressed debt was less than 5%. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Where it started:<\/strong> Higher global interest rates plus a stronger USD over the past 18 months have made debt more expensive for developing economies to pay off, contributing to a sharp sell-off in emerging-market bonds. Even though central bank rates are close to reaching their peak, investors have continued to remain on the sidelines on expectations that they will have to stay higher for longer, stymying the prospects of recovery for the asset class.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>We\u2019re among the most vulnerable:<\/strong> Egypt has the highest interest bill as a percentage of GDP globally and one of the world\u2019s highest gross government debt-to-GDP ratios, leading <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/4b0d3f20-2d64-422f-947a-06c529e19e20\" style=\"\" rel=\"noopener\">Bloomberg<\/a> to list us as the second-most vulnerable country in the world to a debt crisis. Rising rates and the fallout from the war in Ukraine has heaped pressure on Egyptian bonds, with yields on Egyptian 10-year bonds surging 75% since the beginning of 2022. The bonds are now trading almost 2,150 bps above US 10-years.<\/p>\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/economy\/\">economy<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/emerging-markets\/\">emerging markets<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/financial-markets\/\">Financial Markets<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                    <\/div>\n    <\/div>\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"609656 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=\"609656\">\r\n            \r\n            <div class=\"story__body\">\r\n\r\n                <a href=\"https:\/\/enterpriseam.com\/egypt\/2023\/11\/08\/609656\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-609656\" class=\"content-area-description single-story post-609656 post type-post status-publish format-standard hentry category-advertiser wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<p><span style=\"font-weight:400;\"><a href=\"https:\/\/www.sodic.com\/SodicSignatureCommunities#THEESTATESResidences\" target=\"_blank\" rel=\"noopener\"><img data-recalc-dims=\"1\" decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2023\/10\/415.jpg?ssl=1\"><\/a><\/span><\/p>\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"609657\" 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=\"609657\">\r\n            \r\n                <div class=\"issue-story-header text-center\">\r\n                    <div class=\"index-number\">7<\/div>\r\n\r\n                    <p class=\"f-graphik\">LAST NIGHT\u2019S TALK SHOWS<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2023\/11\/08\/pundits-pontificate-about-gaza\/\">\r\n                            Pundits take over Egypt\u2019s night-time talk shows to pontificate about Gaza                        <\/a>\r\n                    <\/h3>\r\n\r\n                    \r\n\t\t\t\t\t\n<div class=\"cta\">\n    <div class=\"cta__btn share-dropdown-cta dropdown-toggle-btn\" style=\"position:relative\">\n        <img decoding=\"async\" src=\"https:\/\/ent.news\/internal\/408834.svg\" alt=\"\">\n        Share Story\n        <!-- Dropdown Menu -->\n        <ul class=\"share-menu\">\n            <li class=\"list-inline-item\">\n                <a href=\"https:\/\/enterpriseam.com\/egypt\/2023\/11\/08\/pundits-pontificate-about-gaza\/\" target=\"_blank\">\n                    Open in new tab                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/new-tab.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a href=\"#\" target=\"_blank\" onclick=\"event.preventDefault(); 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Professor of Israeli studies Mohamed Aboud touched on the same topic on Ala Maso\u2019uleety, and told viewers that Israel is trying to persuade Egypt into taking in Gazans by offering to invest large sums in the economy and offering to solve our water crisis using Israeli technology. (<a target=\"_blank\" href=\"https:\/\/www.youtube.com\/watch?v=SFDkhNzmlkA\" style=\"\" rel=\"noopener\">watch, runtime: 3:08<\/a>).<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The Arab League is meeting on Saturday: <\/strong>Arab foreign ministers are getting together tomorrow ahead of the Arab League\u2019s emergency meeting scheduled for Saturday, Arab League Assistant Secretary-General Hossam Zaki told El Hadidi (<a target=\"_blank\" href=\"https:\/\/www.youtube.com\/watch?v=2WDPOI4VO1E\" style=\"\" rel=\"noopener\">watch, runtime: 17:33<\/a>). \u201cThe final decision will have the basic outline of the Arab political stance regarding the war in Gaza, which will cover issues like the need for a ceasefire and the need to prevent the displacement of Gazans,\u201d he added. The meeting comes after host country Saudi Arabia <a target=\"_blank\" href=\"https:\/\/twitter.com\/KSAmofaEN\/status\/1721995747057418615?ref_src=twsrc%5Egoogle%7Ctwcamp%5Eserp%7Ctwgr%5Etweet\" style=\"\" rel=\"noopener\">postponed<\/a> the fifth edition of the Arab-African Summit initially scheduled for Saturday and it will be followed by an extraordinary Islamic Summit hosted by the <a target=\"_blank\" href=\"https:\/\/www.oic-oci.org\/topic\/?t_id=39875&amp;t_ref=26739&amp;lan=en\" style=\"\" rel=\"noopener\">Organization of Islamic Cooperation<\/a>.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Could Israel\u2019s ownership of nuclear weapons come up in the meeting? <\/strong>\u201cWe need the Arab League to make moves to push Israel to join the Treaty on the Prohibition of Nuclear Weapons,\u201d Ala Maso\u2019uleety\u2019s Ahmed Moussa said (<a target=\"_blank\" href=\"https:\/\/www.youtube.com\/watch?v=b_W4vttQalc\" style=\"\" rel=\"noopener\">watch, runtime: 7:53<\/a>). His comments come <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/3f3a38e7-434f-4816-ad6e-c941fbb83ec3\" style=\"\" rel=\"noopener\">following an Israeli minister\u2019s threat<\/a> to wipe out Gaza with nuclear weapons. Arab League head Ahmed Aboul Gheit <a target=\"_blank\" href=\"http:\/\/www.leagueofarabstates.net\/ar\/news\/Pages\/NewsDetails.aspx?RID=4294\" style=\"\" rel=\"noopener\">has sent letters<\/a> to the UN, its Security Council, and the Chinese government, in which he expressed his concern regarding the Israeli minister\u2019s comments and the country\u2019s ownership of nuclear weapons.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Sisi x CIA: <\/strong>President Abdel Fattah El Sisi met yesterday with CIA Director William Burns, who stopped in Egypt during his regional tour focused on the situation in Gaza and the release of the roughly 200 people behind held hostage. We have the details in this morning's War Watch, above. \u201cAccording to my personal analysis, this meeting will change the US stance,\u201d Moussa said (<a target=\"_blank\" href=\"https:\/\/www.youtube.com\/watch?v=Kpip-gy-R6A\" style=\"\" rel=\"noopener\">watch, runtime: 7:43<\/a>). Al Hayah Al Youm (<a target=\"_blank\" href=\"https:\/\/www.youtube.com\/watch?v=3orPo6dUn-M\" style=\"\" rel=\"noopener\">watch, runtime: 1:31<\/a>) also had coverage. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Speaking of the US: <\/strong>US President Joe Biden has been pushing the Israeli government to commit to a three-day truce, a move that was shrugged off by Prime Minister Benjamin Netanyahu, said Egyptian Center for Strategic Studies head Khaled Okasha on Yahduth Fi Masr. \u201cThe three-day tactical truce proposed comes with the aim of Hamas releasing 10-15 hostages and compiling a database of the hostages being held,\u201d Okasha explained to host Sherif Amer (<a target=\"_blank\" href=\"https:\/\/www.youtube.com\/watch?v=OYjXoOK6zeA\" style=\"\" rel=\"noopener\">watch, runtime: 5:39<\/a>). <\/p>\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div 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class=\"issue-story-header text-center\">\r\n                    <div class=\"index-number\">8<\/div>\r\n\r\n                    <p class=\"f-graphik\">Also on our Radar<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2023\/11\/08\/debt-news-from-tatweer-misr-raya-plus-expat-car-for-fx-initiative-registers-100k-in-first-week-tantawy-on-trial\/\">\r\n                            Debt news from Tatweer Misr + Raya. Plus: Expat car-for-FX initiative registers 100k in first week, Tantawy on trial                        <\/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\/08\/debt-news-from-tatweer-misr-raya-plus-expat-car-for-fx-initiative-registers-100k-in-first-week-tantawy-on-trial\/\" 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\/08\/debt-news-from-tatweer-misr-raya-plus-expat-car-for-fx-initiative-registers-100k-in-first-week-tantawy-on-trial\/')\">\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\/08\/debt-news-from-tatweer-misr-raya-plus-expat-car-for-fx-initiative-registers-100k-in-first-week-tantawy-on-trial\/\">\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=Debt news from Tatweer Misr + Raya. 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The developer will use the funds to accelerate the construction of its <a target=\"_blank\" href=\"https:\/\/ilmontegalala.co\/\" style=\"\" rel=\"noopener\">Il Monte Galala<\/a> project in Ain Sokhna and <a target=\"_blank\" href=\"https:\/\/tatweermisr.com\/bloomfields\" style=\"\" rel=\"noopener\">Bloomfields<\/a> in Mostakbal City.<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Advisors:<\/strong> AAIB is lead arranger, coverage guarantor, facilitation agent, and guarantee agent. <a target=\"_blank\" href=\"https:\/\/matoukbassiouny.com\/locations\/egypt\/\" style=\"\" rel=\"noopener\">Matouk Bassiouny &amp; Hennawy<\/a> is acting as AAIB\u2019s legal advisor and <a target=\"_blank\" href=\"http:\/\/www.sarieldin.com\/homepage\" style=\"\" rel=\"noopener\">Sarie El Din and Partners<\/a> is Tatweer Misr\u2019s legal advisor on the transaction.<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>#2- Raya wants in talk for finance: <\/strong>Raya Holding\u2019s IT arm Raya Information Technology is currently in talks for facilities to support new tech solutions and IT infrastructure projects, it said in an <a target=\"_blank\" href=\"https:\/\/ent.news\/2023\/11\/349.pdf\" style=\"\" rel=\"noopener\">EGX disclosure (pdf)<\/a>. <\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>FX WATCH-<\/strong><\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Relaunched e<\/strong><strong>xpat<\/strong><strong> car-for-FX initiative clocks in 100k registrations in first week:<\/strong>Around 100k Egyptians residing abroad have registered to take part in the expat car-for-FX initiative in only one week since its launch, the Finance Ministry said in a <a target=\"_blank\" href=\"https:\/\/bit.ly\/472JJAF\" style=\"\" rel=\"noopener\">statement<\/a> on Tuesday. The car-for-FX initiative allows Egyptians living abroad to import cars tax-free, provided that they deposit the equivalent of saved duties and taxes in a five-year FX certificate of deposit. <\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>High hopes:<\/strong> The current iteration of the program could generate up to USD 1.1 bn in hard currency receipts, Parliamentary Affairs Minister Alaaeddin Fouad said in <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/9c5f1c0f-aa31-40cb-9de1-7c1f24ab10c0\" style=\"\" rel=\"noopener\">October<\/a>.<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>POLITICS-<\/strong><\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Tantawy is going on trial: <\/strong>Former Egyptian presidential candidate Ahmed Al Tantawy, alongside 22 of his campaign staff, will stand trial on 28 November for asking supporters to print out their own endorsement forms and hand them in instead of using the election authority\u2019s official forms, according to the <a target=\"_blank\" href=\"https:\/\/www.arabnews.com\/node\/2404811\/middle-east\" style=\"\" rel=\"noopener\">AFP<\/a>. Tantawy\u2019s charge of circulating electoral documents without the necessary legal authorization, according to the newswire, comes a month after he dropped out of the presidential race last month after falling short of the 25k minimum needed to run.<\/p>\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/also-on-our-radar\/\">ALSO ON OUR RADAR<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/arab-african-international-bank\/\">Arab African International Bank<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/bonds\/\">Bonds<\/a>\n                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              story-section            \"\r\n            id=\"609662\">\r\n            \r\n                <div class=\"issue-story-header text-center\">\r\n                    <div class=\"index-number\">9<\/div>\r\n\r\n                    <p class=\"f-graphik\">PLANET FINANCE<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2023\/11\/08\/saudi-aramco-fertiglobe-report-lower-earnings-following-bumper-2022\/\">\r\n                            Saudi Aramco, Fertiglobe report lower earnings following bumper 2022                        <\/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        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<\/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\/08\/saudi-aramco-fertiglobe-report-lower-earnings-following-bumper-2022\/\">\r\n                    <div class=\"photo photo--above\">\r\n                        <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2023\/11\/384.JPG?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"609663\" data-permalink=\"https:\/\/enterpriseam.com\/egypt\/2023\/11\/08\/saudi-aramco-fertiglobe-report-lower-earnings-following-bumper-2022\/384-jpg-14\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2023\/11\/384.JPG?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"384.JPG\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2023\/11\/384.JPG?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2023\/11\/384.JPG?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-609662\" class=\"content-area-description single-story post-609662 post type-post status-publish format-standard has-post-thumbnail hentry category-planet-finance tag-abu-dhabi-investment-authority tag-aramco tag-emerging-markets tag-enterpriseam tag-fertiglobe tag-fertilizers tag-financial-markets tag-oil-and-gas tag-planet-finance wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<aside>\t\t\t<div\r\n\t\t\t\t\t\t\t\tclass=\"newspack-popup-container newspack-popup hidden  newspack-inline-popup  newspack-lightbox-no-border   \"\r\n\t\t\t\trole=\"button\"\r\n\t\t\t\ttabindex=\"0\"\r\n\t\t\t\tstyle=\"background-color:#FFFFFF;color:#000\"\r\n\t\t\t\tid=\"id_408150\"\r\n\t\t\t\tdata-segments=\"\"\r\n\t\t\t\tdata-frequency=\"0,0,0,month\"\r\n\t\t\t>\r\n\t\t\t\t\n<div class=\"wp-block-group has-light-gray-background-color has-background\" style=\"padding-top:0px;padding-right:0px;padding-bottom:0px;padding-left:0px\"><div class=\"wp-block-group__inner-container is-layout-constrained wp-container-core-group-is-layout-ef38739e wp-block-group-is-layout-constrained\">\n<div class=\"wp-block-group is-content-justification-center is-nowrap is-layout-flex wp-container-core-group-is-layout-94bc23d7 wp-block-group-is-layout-flex\"><div class=\"wp-block-image\">\n<figure class=\"aligncenter size-full\"><img decoding=\"async\" src=\"https:\/\/ent.news\/internal\/408151.svg\" alt=\"\" class=\"wp-image-408151\"\/><\/figure>\n<\/div><\/div>\n<\/div><\/div>\n\t\t\t<\/div>\r\n\t\t<\/aside>\n<figure class=\"wp-block-audio mb-0\"><audio controls preload=\"metadata\" src=\"https:\/\/s3.us-east-1.amazonaws.com\/ent.news\/audio\/2023\/11\/.e4f5621d-9f30-4e35-b4a3-c740eac907e6.mp3\"><\/audio><\/figure><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"> <strong>Saudi Aramco\u2019s 3Q earnings drop on the back of <\/strong><strong>production<\/strong><strong> cuts and falling oil prices:<\/strong> Saudi oil giant Saudi Aramco posted a 23% y-o-y drop in its 3Q earnings, according to an <a target=\"_blank\" href=\"https:\/\/ent.news\/2023\/11\/382.pdf\" style=\"\" rel=\"noopener\">earnings release (pdf)<\/a> yesterday. Net income fell to USD 32.6 bn in the quarter, down from USD 42.4 bn in the same period last year. The oil company that is 90% owned by the Saudi government and 8% owned by the country\u2019s Public Investment Fund (PIF) pointed towards the \u201cimpact of lower crude oil prices and volumes sold,\u201d which is widely understood to stem from the country\u2019s <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/1827f8cb-3783-4d2a-9687-e5e9588aff48\" style=\"\" rel=\"noopener\">voluntary cuts<\/a> to production and a particularly good year for oil in 2022.<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>But investor payouts are still a go<\/strong>: Despite its contraction in earnings, Aramco paid dividends worth USD 29.4 bn to its shareholders, Bloomberg <a target=\"_blank\" href=\"https:\/\/www.bloomberg.com\/news\/articles\/2023-11-07\/aramco-keeps-payout-at-29-billion-in-boon-for-saudi-finances?srnd=premium-middle-east\" style=\"\" rel=\"noopener\">reported<\/a>. As the majority shareholder, the Saudi government relies on dividends from the country\u2019s largest company for many of its mega projects and propping up the state budget.<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Speaking of falling prices: <\/strong>Brent crude closed4.2% down yesterday at only USD 81.61 a barrel partly on the back of a market correction from when fears that Israel\u2019s war on Gaza would escalate into a regional conflict shook the markets and sent oil prices climbing.<\/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>Fertiglobe earnings return to pre-Ukraine war levels:<\/strong> Earnings at MENA fertilizers firm Fertiglobe continued to normalize following a bumper 2022 in 3Q 2023, which saw revenues fall 60% from a year earlier due to lower prices, according to its latest <a target=\"_blank\" href=\"https:\/\/ent.news\/2023\/11\/377.pdf\" style=\"\" rel=\"noopener\">earnings release (pdf)<\/a>. The company reported USD 525 mn in revenues for the July-September quarter, down sharply from 3Q 2022 when the company raked in USD 1.3 bn due to soaring prices. Fertiglobe saw a similarly large pullback in net income, falling 86% to USD 41 mn.<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Remember: <\/strong>Global prices of fertilizers spiked at the onset of the war in the Ukraine, owing to Russia \u2014 the world\u2019s largest supplier of fertilizers \u2014 facing global sanctions. <\/p><p><a target=\"_blank\" id=\"t.dbe1ecc8132a3adebb0bd51148657fd8f5052498\" 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\">23,393<\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">+1.5% (YTD: +60.2%)<\/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-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>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\">10,946<\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">0.0% (YTD: +4.5%)<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-none\">\n<td class=\"td-list-none\">\n<p><svg class=\"e-icon e-TypeMarkets\"><use xlink:href=\"#e-TypeMarkets\"><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>ADX<\/strong><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">9,551<\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">0.0% (YTD: -6.5%)<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-up\">\n<td class=\"td-list-up\">\n<p><svg class=\"e-icon e-TypeMarkets11\"><use xlink:href=\"#e-TypeMarkets11\"><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>DFM<\/strong><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">3,990<\/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: +19.6%)<\/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\">4,378<\/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: +14.0%)<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-down\">\n<td class=\"td-list-down\">\n<p><svg class=\"e-icon e-TypeMarkets1\"><use xlink:href=\"#e-TypeMarkets1\"><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>FTSE 100<\/strong><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">7,410<\/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: -0.6%)<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-down\">\n<td class=\"td-list-down\">\n<p><svg class=\"e-icon e-TypeMarkets1\"><use xlink:href=\"#e-TypeMarkets1\"><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>Euro Stoxx 50<\/strong><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">4,153<\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">-0.1% (YTD: +9.5%)<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-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 81.61<\/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\">-4.2%<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-down\">\n<td class=\"td-list-down\">\n<p><svg class=\"e-icon e-TypeMarkets1\"><use xlink:href=\"#e-TypeMarkets1\"><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>Natural gas <\/strong>(Nymex)<\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">USD 3.14<\/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\">-3.8%<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-down\">\n<td class=\"td-list-down\">\n<p><svg class=\"e-icon e-TypeMarkets1\"><use xlink:href=\"#e-TypeMarkets1\"><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>Gold<\/strong><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">USD 1,973.50<\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">-0.8%<\/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>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 35,546.41<\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">+1.5% (YTD: +115.6%)<\/p>\n<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<\/div><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>THE CLOSING BELL-<\/strong><\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The EGX30 rose 1.5% at yesterday\u2019s close<\/strong> on turnover of EGP 4.3 bn (74.4% above the 90-day average). Regional investors were net sellers. The index is up 60.2% YTD.<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>In the green:<\/strong> MOPCO (+7.3%), Credit Agricole (+6.5%) and CIRA (+6.3%).<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>In the red:<\/strong> E-Finance (-4.9%), Juhayna (-2.5%) and TMG Holding (-2.4%).<\/p>\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/abu-dhabi-investment-authority\/\">Abu Dhabi Investment Authority<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/aramco\/\">Aramco<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                      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          <\/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\/27479.svg\" alt=\"\"><\/figure>\r\n                <p class=\"has-text-color has-link-color\">\r\n                    Published every Wednesday 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\/hardhat\/\">\r\n                            Read Hardhat                        <\/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\">10<\/div>\r\n    \r\n                        <p class=\"f-graphik\">HARDHAT<\/p>\r\n                        <h3 class=\"story-title\"><a href=\"https:\/\/enterpriseam.com\/egypt\/hardhats\/egypt-awards-contracts-for-logistics-zones-dry-port-inks-agreements-to-give-our-transport-sector-a-boost\/\"> \r\n                            Egypt awards contracts for logistics zones, dry port + inks agreements to give our transport sector a boost<\/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 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data-permalink=\"https:\/\/enterpriseam.com\/egypt\/hardhats\/egypt-awards-contracts-for-logistics-zones-dry-port-inks-agreements-to-give-our-transport-sector-a-boost\/370-jpg-38\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2023\/11\/370.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"370.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2023\/11\/370.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2023\/11\/370.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                            <\/div>\r\n                        <\/a>\r\n                        \n<article id=\"post-609664\" class=\"content-area-description post-609664 hardhat type-hardhat status-publish has-post-thumbnail hentry category-hardhat tag-enterprise-hardhat tag-enterpriseam tag-hardhat tag-logistics tag-manufacturing tag-samcrete tag-supply-ministry tag-transport wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"> <strong>Breaking down the agreements signed at TransMEA 2023: <\/strong>Egypt signed multiple agreements with local and international firms on the third day of the ongoing TransMEA 2023 transport expo in Cairo that aim to boost our maritime, logistics and land transport sectors, according to several statements (<a target=\"_blank\" href=\"https:\/\/www.facebook.com\/MinistryTransportation\/posts\/pfbid0zXHsdJphTnGK6tjm8WPLRTs6xe2fYQk27Jg2FXMgDYr2f8gPgE91tRuXzkdpBTMyl\" style=\"\" rel=\"noopener\">here<\/a>, <a target=\"_blank\" href=\"https:\/\/www.facebook.com\/MinistryTransportation\/posts\/pfbid0EvRTQLBS9294ANFzYXHS6FTiwMAdnPh2FxyJ6HheJR7zQ3yCbvosszYsooUMZrvjl\" style=\"\" rel=\"noopener\">here<\/a>, <a target=\"_blank\" href=\"https:\/\/www.facebook.com\/MinistryTransportation\/posts\/pfbid0sF5uho1zPLJbR3wvd4p64mxFiPvCjxaNMvnRcKWcU5hDKBvyXFvRQbXFk2vEUvZel\" style=\"\" rel=\"noopener\">here<\/a> and <a target=\"_blank\" href=\"https:\/\/www.facebook.com\/MinistryTransportation\/posts\/pfbid034kaPwH4M9hDSUcXSg76nRrcWrdghvRxEfZtGcmz5FFwaPNg8B9yZuyWkh9sUPLvgl?locale=ar_AR\" style=\"\" rel=\"noopener\">here<\/a>). We also inked more agreements to localize manufacturing for our transport sector. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>One caveat: <\/strong>Most of the agreements are in the early stages, with economic feasibility studies still ongoing, meaning the exact values of the contracts and how they\u2019ll be financed is still unclear. There\u2019s a chance that some of these may not leave the drawing board.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>#1- LOGISTICS<\/strong><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>IDG snags Kom Abu Radi dry port contract: <\/strong><a target=\"_blank\" href=\"https:\/\/www.samcrete.com\/\" style=\"\" rel=\"noopener\">Samcrete Group<\/a> subsidiary <strong>Industrial Development Group<\/strong> (IDG) inked an MoU to establish, manage and operate a <a target=\"_blank\" href=\"https:\/\/enterprise.news\/logistics\/en\/news\/story\/7f0aa212-9353-4ff2-b3b3-5aeba73fb6f4\" style=\"\" rel=\"noopener\">dry port in Kom Abu Radi<\/a>, which will serve the area\u2019s fertilizer, cement, and electronics factories, as well as Supply Ministry-affiliated bulk commodity silos. The port will also be connected by railway line to the main railway network.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>What\u2019s next:<\/strong> The company will conduct an economic feasibility study in the next four months, after which it will submit a financial bid, and another more detailed technical proposal in 10 months, it said in <a target=\"_blank\" href=\"https:\/\/ent.news\/2023\/11\/359.pdf\" style=\"\" rel=\"noopener\">a statement (pdf)<\/a>. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Orchid + Libyan-Egyptian consortium to operate two new logistics zones:<\/strong><strong>Orchid Kuwaiti Egyptian Company<\/strong> inked an MoU to set up, operate and manage a logistics zone in the Sixth October Industrial Zone, with a period of four months slated for the economic and feasibility studies, after which the company will submit a financial bid, the statement said. A Libyan-Egyptian consortium comprising <strong><a target=\"_blank\" href=\"https:\/\/www.linkedin.com\/company\/el-raeid-engineering-consultants\/\" style=\"\" rel=\"noopener\">Al Raeid Engineering Consultants<\/a><\/strong> and <strong>Al Saed Company<\/strong> also inked an agreement to establish, operate and manage a <a target=\"_blank\" href=\"https:\/\/enterprise.news\/logistics\/en\/news\/story\/f3b69c2a-2971-4aca-b982-d303c0d38421\" style=\"\" rel=\"noopener\">400-feddan logistics zone<\/a> in Al Salloum city on the Libyan border, for which the consortium will conduct a feasibility study in two months. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>#2- MARITIME<\/strong><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The Transport Ministry also oversaw a number of agreements signed to help strengthen Egypt\u2019s maritime sector<\/strong>, including a new Egypt-Italy ro-ro line, as well as cooperation agreements for technical capacity building and port management. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>A boost for our state-owned maritime firms:<\/strong> Cyprus-based <strong><a target=\"_blank\" href=\"https:\/\/columbia-eshop.com\/columbia-shipmanagement-ltd\" style=\"\" rel=\"noopener\">Columbia Shipmanagement<\/a><\/strong> and Egypt-based <strong><a target=\"_blank\" href=\"https:\/\/pan-marine.net\/\" style=\"\" rel=\"noopener\">Pan Marine Group<\/a><\/strong> inked an MoU that will see the companies work on developing Egypt\u2019s state-owned maritime firms by employing a new cohort of 1.5k workers and financing the construction and acquisition of new vessels, the statement said. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Egypt-Italy shipping line:<\/strong> Egypt also inked an agreement with ship operator <strong><a target=\"_blank\" href=\"https:\/\/www.dfds.com.tr\/welcome-to-shippings-new-business-unit-mediterranean\/en\/1902\" style=\"\" rel=\"noopener\">DFDS Mediterranean<\/a><\/strong> for a weekly ro-ro shipping line for perishables between Egypt\u2019s Damietta Port and Trieste port in Italy to boost trade between the countries. The two countries\u2019 customs authorities also inked an agreement to help facilitate shipping processes for the shipping line, the statement said. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>ALSO- <\/strong>The Alexandria Port and the Chinese port of Guangzhou are also partnering up to exchange expertise in port management and smart, green ports. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>WATCH THIS SPACE- Omani logistics firm Asyad is eyeing investments in SCZone:<\/strong> Omani state-owned logistics provider <a target=\"_blank\" href=\"https:\/\/www.asyad.om\/\" style=\"\" rel=\"noopener\">Asyad<\/a> is interested in cooperating on maritime and logistics projects within the Suez Canal Economic Zone, a delegation from the company <a target=\"_blank\" href=\"https:\/\/tinyurl.com\/27z4faxv\" style=\"\" rel=\"noopener\">said<\/a> on the sidelines of the event. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>#3- LAND TRANSPORT <\/strong><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Unified transport card + app coming our way:<\/strong> Italian IT firm <strong><a target=\"_blank\" href=\"https:\/\/www.almaviva.it\/en_GB\" style=\"\" rel=\"noopener\">Almaviva<\/a><\/strong>and <strong><a target=\"_blank\" href=\"https:\/\/www.transit.com.eg\/Home\" style=\"\" rel=\"noopener\">Transport Information Technology<\/a><\/strong>(TransIT) signed an MoU to implement a unified, cross-platform transport card that can be used for the metro, the light rail transit (LRT), public and private transport buses, the monorail, and the bus rapid transit (BRT) system. The Transport Ministry is also planning to develop an app for various transport services, including public transport, bike sharing and taxis, that allows users to book rides in advance. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Auto loans for land freight players:<\/strong> The <strong>National Bank of Egypt<\/strong> signed an agreement to finance car and auto parts purchases for Land Transport Authority-licensed transport companies.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>PLUS- Freight brokers could get licenses online:<\/strong> The ministry inked an agreement to issue licenses for land freight brokers online, the statement said, without disclosing details.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>AND- The third day saw more agreements to localize transport infrastructure: <\/strong>The National Egyptian Railway Industries Company (<strong>NERIC<\/strong>), a joint-venture between the state and the private sector, signed two framework agreements to localize manufacturing during the event. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>#1- BRT:<\/strong> NERIC inked an MoU with Chinese companies <a target=\"_blank\" href=\"https:\/\/www.crrcgc.cc\/zicen\/g2824\/s31518\/t330376.aspx\" style=\"\" rel=\"noopener\">Hunan CRRC Intelligent Transport Technology<\/a>, <a target=\"_blank\" href=\"http:\/\/www.tec.crrczic.cc\/en\/1400.html\" style=\"\" rel=\"noopener\">Zhuzhou CRRC Times Electric<\/a>, and <a target=\"_blank\" href=\"http:\/\/en.norinco.cn\/\" style=\"\" rel=\"noopener\">Norinco International Cooperation<\/a> to localize the manufacturing of rapid transit systems; <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>#2- Railway equipment:<\/strong> NERIC also inked an agreement with Hungarian firm <a target=\"_blank\" href=\"https:\/\/www.ganzmotor.hu\/\" style=\"\" rel=\"noopener\">Ganz Motor<\/a> and its agent in Egypt, Tahawy Rail, to localize the manufacturing of Ganz spark plugs for railways.<\/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>ICYMI:<\/strong> The ministry also inked a slew of <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/09982f8c-82cb-4304-b64d-f98e848efba6\" style=\"\" rel=\"noopener\">agreements<\/a> on the second day of TransMEA with Chinese, European, and local companies to localize manufacturing in the transport sector and complete key state transport projects like the light-rail transit (LRT), high speed rail (HSR), and the metro expansion. <strong>The details:<\/strong><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>LIGHT RAIL-<\/strong> The Aviation Industry Corporation of China (<strong>AVIC<\/strong>) and <strong>China Railway Major Bridge Engineering Group Co<\/strong>. inked a framework agreement to design and construct the 16-km fourth phase of Cairo\u2019s LRT project that will extend the route into Tenth of Ramadan City. AVIC \u2014 the main contractor for the LRT project \u2014 also signed an MoU for the fifth phase of the project that will reach into the new capital as well as an MoU for an light electric train that will link Al Rehab to the new capital.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>HIGH SPEED RAIL-<\/strong> Egypt-focused contractor <strong>El Didi Group<\/strong> and the <strong>Chinese Railway Group Limited<\/strong> (CREC) inked an MoU for a planned 250-km long high-speed rail line between Port Said and Abu Qir. In addition, a number of local and international companies signed contracts to design, supply, and install the electromechanical systems for the 1.8k km national high-speed rail project, where <strong>Orascom Construction<\/strong>, <strong>Elsewedy Electric<\/strong> and <strong>Arab Contractors<\/strong> secured the contract for the first line running between Ain Sokhna and Marsa Matrouh. Meanwhile, <strong>Siemens Mobility<\/strong>, Orascom Construction, and Arab Contractors were tasked with installing the systems for the second Sixth of October-Aswan line and the third Hurghada-Luxor line.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>METRO-<\/strong><strong>Orascom Construction<\/strong> inked a contract to build the civil works for the stretch of Metro Line 4 between Giza and Fustat. In addition, a contract was signed with Spain\u2019s <strong>Typsa Group<\/strong> to provide consulting services ahead of conducting preliminary studies to extend Metro Line 1 (Helwan to New El Marg) to Shibin El Qanater. Meanwhile, Spain\u2019s <strong>Construcciones y Auxiliar de Ferrocarriles<\/strong> (CAF) inked two MoUs: one to extend a previous maintenance and upgrade agreement for 23 trains at Metro Line 1 and the other to implement a similar agreement for 39 trains at Metro Line 2 (El Mounib through Shubra El Kheima).<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>ALSO- <\/strong>The <strong>Egyptian Railway Authority<\/strong> inked a terms and conditions agreement with the <strong>Egyptian National Railway Industries Company<\/strong> (NERIC) to assemble 500 rolling stock, along with their maintenance and spare parts, over the span of 15 years. NERIC also linked up with Spain\u2019s <strong>CBS Group<\/strong> through its subsidiary <strong>GTS<\/strong> to set up a local manufacturing plant for signaling devices.<\/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 infrastructure stories for the week:<\/strong><\/p>\n<ul>\n<li><strong>Gas has started flowing in East Damanhour: <\/strong>German oil giant Wintershall Dea <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/bc7c92ca-2125-499e-a281-67e15fd14d28\" style=\"\" rel=\"noopener\">has started gas production<\/a> at its East Damanhour onshore concession.<\/li>\n<li><strong>Tunnels authority wants more financing for Cairo Metro Line 4:<\/strong> The National Tunnels Authority (NTA) is looking to secure an <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/a782dd6c-ea40-4924-8635-2f6679f5997e\" style=\"\" rel=\"noopener\">EGP 17 bn loan<\/a> from a consortium of local banks to fund the construction of the Cairo Metro Line 4.<\/li>\n<li><strong>Orascom Real Estate (ORE) has <\/strong><strong><a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/fbf433a3-7f99-4a9c-87b2-62ea1fdebdbe\" style=\"\" rel=\"noopener\">secured EGP 6 bn<\/a><\/strong><strong> loan<\/strong>to fast-track construction at its O West project in Six October.<\/li>\n<\/ul>\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/hardhat\/\">Hardhat<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/logistics\/\">logistics<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/manufacturing\/\">Manufacturing<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/samcrete\/\">Samcrete<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/supply-ministry\/\">Supply Ministry<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/transport\/\">transport<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                    <\/div>\n    <\/div>\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=\"609666\" 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\/08\/609666\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-609666\" class=\"content-area-description single-story post-609666 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\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>MENA\u2019s largest wind farm | The Labor Law is still alive | Everything you ever wanted to know about TransMEA 2023, but were afraid to ask<\/p>\n","protected":false},"featured_media":609641,"menu_order":0,"template":"","categories":[],"tags":[],"class_list":["post-609640","issue","type-issue","status-publish","has-post-thumbnail","hentry","wpautop","entry"],"acf":{"mongo_id":"78893560-8552-4107-9fcf-e72459f988d3","teaser":"MENA\u2019s largest wind farm | The Labor Law is still alive | Everything you ever wanted to know about TransMEA 2023, but were afraid to ask","photo_url":"https:\/\/ent.news\/2023\/11\/391.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>Fresh whispers from the privatization program - 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\/fresh-whispers-from-the-privatization-program\/\" \/>\n<meta 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