{"id":609932,"date":"2023-11-13T00:00:00","date_gmt":"2023-11-13T00:00:00","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/?post_type=issue&#038;p=609932"},"modified":"2025-12-17T01:56:55","modified_gmt":"2025-12-17T01:56:55","slug":"grand-egyptian-museum-to-open-by-may-issa-says","status":"publish","type":"issue","link":"https:\/\/enterpriseam.com\/egypt\/issues\/grand-egyptian-museum-to-open-by-may-issa-says\/","title":{"rendered":"Grand Egyptian Museum to open by May, Issa says"},"content":{"rendered":"<section id=\"609934\" 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=\"609934\">\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\/13\/the-developer-of-the-new-capital-has-received-offers-to-advise-on-its-planned-ipo\/\">\r\n                            The developer of Egypt\u2019s new capital has received offers to advise on its planned IPO                        <\/a>\r\n                    <\/h3>\r\n\r\n                    \r\n\t\t\t\t\t\n<div class=\"cta\">\n    <div class=\"cta__btn share-dropdown-cta dropdown-toggle-btn\" 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\/13\/the-developer-of-the-new-capital-has-received-offers-to-advise-on-its-planned-ipo\/\" target=\"_blank\">\n    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class=\"content-area-description single-story post-609934 post type-post status-publish format-standard has-post-thumbnail hentry category-what-were-tracking-today tag-acud tag-enterpriseam tag-ipo-watch tag-new-administrative-capital tag-privatization-watch tag-state-privatization-program 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\/.717d6372-429b-4ecc-9201-40d5183860c6.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>It\u2019s a reasonably brisk morning for news: Lamees El Hadidi tore a strip off policymakers last night as she criticized the <strong>slow pace of the privatization program<\/strong>, and the <strong>Grand Egyptian Museum<\/strong> is getting plenty of ink after Tourism Ministry Ahmed Issa suggested it could open by next spring. <\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>SMART POLICY- <\/strong>We also think it notable this morning that <strong>Volkswagen<\/strong> is going to work with the state on a study to set up an automotive-assembly and part-manufacturing zone on the banks of the Suez Canal. Single-industry industrial clusters make sense a mn different ways, <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/edition\/am\/feeda831-c0fd-43df-b197-08ddb74254e7\" style=\"\" rel=\"noopener\">as we\u2019ve previously discussed<\/a>.<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>KIND POLICY- We\u2019re still singing the praises of Google<\/strong>, which as we noted yesterday <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/2b42a502-cdff-4f42-a3a2-72eacbe36022\" style=\"\" rel=\"noopener\">gave<\/a><a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/2b42a502-cdff-4f42-a3a2-72eacbe36022\" style=\"\" rel=\"noopener\">a blanket extension of service to many Egyptian companies<\/a> that are having problems paying for services on domestic credit cards in the wake of currency controls handed down by banks and the CBE. Amazon Web Services and Microsoft, among others, need to follow suit and show they support their small and medium-sized business clients.<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><a id=\"wwtt1\"><\/a>  <strong>MEANWHILE- <\/strong><strong>Core inflation slows again in October:<\/strong>Core inflation eased in October for the fourth consecutive month, according to <a target=\"_blank\" href=\"https:\/\/www.cbe.org.eg\/en\/news-publications\/news\/2023\/11\/12\/12\/40\/cpi-press-release-october-2023\" style=\"\" rel=\"noopener\">c<\/a><a target=\"_blank\" href=\"https:\/\/www.cbe.org.eg\/en\/news-publications\/news\/2023\/11\/12\/12\/40\/cpi-press-release-october-2023\" style=\"\" rel=\"noopener\">entral bank figures<\/a> released yesterday. Core prices \u2014 which strip out volatile items such as food and fuel \u2014 slowed to 38.1% y-o-y during the month from 39.7% in September. On a monthly basis, core inflation slowed to 1.8% from 3.0% in September.<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>This comes after figures released by Capmas last week showed that annual urban <\/strong><strong>inflation <\/strong><strong><a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/0147f9a1-ae83-4343-ac17-43244f6f394b\" style=\"\" rel=\"noopener\">eased<\/a><\/strong><strong><a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/0147f9a1-ae83-4343-ac17-43244f6f394b\" style=\"\" rel=\"noopener\">for the first time in six months<\/a><\/strong> in October on the back of slowing food prices. Both headline and core inflation rates have soared to record highs this year on the back of a series of currency devaluations and a chronic FX shortage.<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>WATCH THIS SPACE- <\/strong><\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"> <strong>#1- ACUD receives offers from financial advisors for its 2024 IPO:<\/strong> The Administrative Capital for Urban Development Company (ACUD) has received offers from several firms to act as financial advisor ahead of an initial public offering on the EGX, its chairman Khaled Abbas said at Al Mal\u2019s <a target=\"_blank\" href=\"https:\/\/www.almalgtm.org\/realestate\/the-7th-real-estate-debate-2023-2023\/\" style=\"\" rel=\"noopener\">Real Estate Debate<\/a> on Sunday, according to <a target=\"_blank\" href=\"https:\/\/twitter.com\/AsharqbEGY\/status\/1723645615609950670?s=20\" style=\"\" rel=\"noopener\">Asharq Business<\/a>. The company in charge of developing Egypt\u2019s new capital revived its IPO plans \u2014 in the works since 2021 \u2014 in <a target=\"_blank\" href=\"https:\/\/www.enterprise.news\/news\/story\/10bc58be-e08b-431f-a5ae-7ca94458a0a0\/\" style=\"\" rel=\"noopener\">September<\/a>, saying it would offer 10-15% of its shares to investors.<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>There\u2019s plenty we don\u2019t know about the IPO<\/strong>, including whether ACUD will market it to international as well as domestic investors, what its financials look like, and how the company values itself.<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>A first look at the company\u2019s finances:<\/strong> ACUD booked EGP 10 bn in net income during the first half of 2023, Abbas <a target=\"_blank\" href=\"https:\/\/twitter.com\/AsharqbEGY\/status\/1723645617031766108\" style=\"\" rel=\"noopener\">revealed at the conference<\/a> yesterday. The company is a joint venture between the military and the Housing Ministry and will be required as part of the IPO process to make its finances public.<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>#2- An updated law on informal housing to be introduced by the end of the year<\/strong>: A bill that will make it easier for owners of illegal buildings to go legit is under final discussion in the State Council and will be announced within two to three weeks, the parliamentary Housing Committee\u2019s undersecretary Tarek Shoukry said at yesterday\u2019s Real Estate Debate, <a target=\"_blank\" href=\"https:\/\/tinyurl.com\/3cer8ywn\" style=\"\" rel=\"noopener\">Al Mal<\/a> reported. <\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Background<\/strong>: Legislation dating from 2019 gives owners of illegal buildings the option to pay reconciliation fees to allow them to legalize their building. Only a fraction of the <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/d5dd2bfd-b54b-4210-b346-7eb08afc8ea4\" style=\"\" rel=\"noopener\">2.8 mn reconciliation requests<\/a> were processed, due in large part to bureaucratic challenges managing data throughout the process. The new bill, which received <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/0e91cb15-5151-475a-a80d-90205c0e59b3\" style=\"\" rel=\"noopener\">initial approval<\/a> in 2022, is expected to streamline the bureaucratic process. <\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><a id=\"wwtt5\"><\/a> <strong>#3- Trouble on the rails: <\/strong>French rolling stock manufacturer Alstom is in a pickle: The company\u2019s shares have plunged in value after it <a target=\"_blank\" href=\"https:\/\/www.reuters.com\/business\/alstoms-shares-slump-36-after-it-slashes-free-cash-flow-target-2023-10-05\/\" style=\"\" rel=\"noopener\">warned last month<\/a> that it faced a cash flow squeeze, prompting the market to raise flags about the company\u2019s debt position \u2014 setting up the possible loss of its investment grade rating, the <a target=\"_blank\" href=\"https:\/\/www.ft.com\/content\/bc874ab9-68b1-41c2-ad18-c0086b1dc43c\" style=\"\" rel=\"noopener\">Financial Times<\/a> writes. That could set off a downward spiral. Management says that upcoming down payments on projects will help keep it afloat \u2014 but some analysts believe that the only way forward is to sell assets. <\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>A bankrupt (or otherwise resource-constrained) Alstom is really bad news for us: <\/strong>The company has a long list of Egyptian projects in the pipeline. It is currently looking to <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/089495f3-c627-4d5f-9c7a-f597b0557068\" style=\"\" rel=\"noopener\">establish<\/a><a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/089495f3-c627-4d5f-9c7a-f597b0557068\" style=\"\" rel=\"noopener\">two factories<\/a> in Borg El Arab to produce electrical systems and metro and monorail rolling stock and is <a target=\"_blank\" href=\"https:\/\/www.alstom.com\/monorail-story-greater-cairo\" style=\"\" rel=\"noopener\">leading the consortium<\/a> in charge of the Sixth of October-new capital monorail. Alstom is also heavily involved with our efforts to expand the Cairo Metro, with the company penciled in to provide <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/dfceb221-fc3a-4c21-8327-7a7104b86764\" style=\"\" rel=\"noopener\">new rolling stock<\/a> for Metro Line 1 and <a target=\"_blank\" href=\"https:\/\/www.alstom.com\/press-releases-news\/2022\/10\/alstom-puts-service-four-stations-cairo-metro-line-3-phase-3a\" style=\"\" rel=\"noopener\">signaling and control systems<\/a> for the third phase of <a target=\"_blank\" href=\"https:\/\/www.alstom.com\/press-releases-news\/2022\/10\/alstom-puts-service-four-stations-cairo-metro-line-3-phase-3a\" style=\"\" rel=\"noopener\">Metro Line 3<\/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=\"wwtt3\"><\/a> <strong>#1- <\/strong><strong>CBE to refinance FX debt in t-bill auction: <\/strong>The Central Bank of Egypt will hold an auction to refinance USD 1.6 bn of USD-denominated one-year t-bills due to mature on 14 November, according to data on its website. <\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Expect borrowing costs to be higher:<\/strong> The government will likely have to refinance the debt at a higher rate than the maturing bills, which were sold last November at a 4.598% interest rate. The central bank agreed to pay 5.149% on a similar auction in June \u2014 the last time it sold USD-denominated bonds in the local market.<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>#2- The House is in session: <\/strong>MPs are meeting today to discuss and vote on amendments to the 2020 SMEs laws that, if passed, would grant financing handed out by the SMEs Development Agency the same exemptions and benefits afforded under the Banking Act. <\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Also on the agenda: <\/strong>The House will also vote on three presidential decrees: <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/ed23d6b6-3314-4600-8e5c-af1f5ef906a4\" style=\"\" rel=\"noopener\">Banning double<\/a><a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/ed23d6b6-3314-4600-8e5c-af1f5ef906a4\" style=\"\" rel=\"noopener\">taxation<\/a> on profits generated from air transport between Egypt and Brazil, a <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/a75f69fb-ff06-4a7e-91c5-007a61bfedd6\" style=\"\" rel=\"noopener\">CAD 10 mn grant<\/a> from the Canadian government to enhance food security and fight climate change, and Egypt <a target=\"_blank\" href=\"https:\/\/tinyurl.com\/2sudnacx\" style=\"\" rel=\"noopener\">joining<\/a> the <a target=\"_blank\" href=\"https:\/\/www.basel.int\/\" style=\"\" rel=\"noopener\">Basel Convention<\/a>, which aims to regulate the trade and disposal of hazardous waste.<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>AND- <\/strong>Public Enterprises Minister Mahmoud Esmat will join the House Industrial Committee to discuss the ministry\u2019s strategy to boost the performance of its affiliated holding companies.<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>#3- Egypt is the focus of day five at the <\/strong><strong><a target=\"_blank\" href=\"https:\/\/press.us9.list-manage.com\/track\/click?u=3f7bc576715ca1a70edef2788&amp;id=80e7e3d74a&amp;e=3a5d1ae863\" style=\"\" rel=\"noopener\">Intra-African Trade Fair<\/a><\/strong>, with Elsewedy Electric CEO Ahmed Elsewedy and Hassan Allam Construction\u2019s Mohamed Taher set to take the stage alongside other leaders in the private and public sectors penciled in on the day\u2019s <a target=\"_blank\" href=\"https:\/\/ent.news\/2023\/11\/618.pdf\" style=\"\" rel=\"noopener\">agenda (pdf)<\/a>.<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>HAPPENING THIS WEEK<\/strong><\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The Egypt VC Summit is nearly upon us: <\/strong>Venture capitalists will descend on the Hilton Hotel in central Cairo tomorrow for the <a target=\"_blank\" href=\"https:\/\/www.egyptvcsummit.com\/summit\" style=\"\" rel=\"noopener\">Egypt VC Summit<\/a>, which will run through Wednesday. Flat6Labs\u2019 Dina El Shenoufy, GAFI\u2019s Hossam Heiba, FRA\u2019s Mohamed Farid, and other industry players. The gathering wraps up tomorrow. <\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>ALSO HAPPENING SOON-<\/strong><\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Erdogan is coming to Egypt: <\/strong>Turkish President Recep Erdogan is set to visit Egypt in the coming weeks, according to <a target=\"_blank\" href=\"https:\/\/www.france24.com\/en\/live-news\/20231112-erdogan-calls-for-pressure-on-us-to-stop-israel-s-offensive\" style=\"\" rel=\"noopener\">AFP<\/a>. The planned visit \u2014 a first since diplomatic relations broke down in 2013 \u2014 comes amid the diplomatic efforts in the region to end Israel\u2019s war on Gaza. <\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>THE BIG STORY ABROAD- <\/strong><\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>It\u2019s still all about the war on Gaza in the international pages, <\/strong>but each news outlet is looking at it from a different angle. <a target=\"_blank\" href=\"https:\/\/www.reuters.com\/world\/middle-east\/largest-gaza-hospital-not-functioning-amid-israeli-assault-2023-11-12\/\" style=\"\" rel=\"noopener\">Reuters<\/a> and the <a target=\"_blank\" href=\"https:\/\/apnews.com\/article\/israel-hamas-war-news-11-12-2023-20f5dcd135b7eb34238a7b25ce560d0c\" style=\"\" rel=\"noopener\">AP<\/a> are focussed on the Al Shifa hospital \u2014 Gaza\u2019s largest \u2014 which has halted operations after heavy Israeli attacks. The <a target=\"_blank\" href=\"https:\/\/www.wsj.com\/world\/middle-east\/hamas-needed-a-new-way-to-get-money-from-iran-it-turned-to-crypto-739619aa?mod=hp_lead_pos8\" style=\"\" rel=\"noopener\">Wall Street Journal<\/a> is looking at where Hamas is getting its money from and <a target=\"_blank\" href=\"https:\/\/www.bloomberg.com\/news\/articles\/2023-11-12\/israel-latest-fighting-surrounds-hospitals-as-cease-fire-urged?srnd=premium-middle-east\" style=\"\" rel=\"noopener\">Bloomberg<\/a> is leading with the hostage situation. Meanwhile, <a target=\"_blank\" href=\"https:\/\/www.cnbc.com\/2023\/11\/12\/israel-hamas-war-data-shows-human-cost-of-conflict-through-the-years.html\" style=\"\" rel=\"noopener\">CNBC<\/a> is looking at the bigger picture with a comparison of fatalities from both sides since 2008, in which 12 times more Palestinains have been killed than Israelis. <\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>ALSO- Another depressing milestone in Sudan\u2019s tragic civil war: <\/strong>Intense fighting in the Sudanese region of Darfur is getting coverage in the international press, after the RSF and its allied militias reportedly killed more than 1k members of the non-Arab Masalit tribe in under 48 hours this week in West Darfur. (<a target=\"_blank\" href=\"https:\/\/www.reuters.com\/world\/africa\/eu-condemns-darfur-violence-warns-another-genocide-2023-11-12\/\" style=\"\" rel=\"noopener\">Reuters<\/a> | <a target=\"_blank\" href=\"https:\/\/www.bloomberg.com\/news\/articles\/2023-11-10\/death-toll-from-violence-in-sudan-s-darfur-region-rises\" style=\"\" rel=\"noopener\">Bloomberg<\/a>)<\/p><div style=\"background-color: #ddd; padding:10px; border-radius:10px;margin-bottom:20px;\"><strong>HELP GAZA-<\/strong><\/div><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><a id=\"wwtt4\"><\/a> <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><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>WAR ECONOMICS-<\/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- ETFs in the Middle East record heavy outflows in October: <\/strong>Exchange-traded funds (ETFs) with exposure to Saudi, Qatari, Emirati, and Israeli stocks have seen significant outflows since the outbreak of war in Gaza as investors continue to worry about instability in the region, according to <a target=\"_blank\" href=\"https:\/\/www.reuters.com\/markets\/investors-pull-record-sums-saudi-middle-east-fund-flight-2023-11-12\/\" style=\"\" rel=\"noopener\">Reuters<\/a>. iShares MSCI Saudi Arabia ETF, which tracks the performance of an index composed of Saudi Arabian equities, saw the heaviest losses in the region, recording net outflows in October of over USD 200 mn and a 20% drop of what the fund held at the beginning of the month, the newswire reports. <\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The outflows are bad news for Israel:<\/strong> Israeli ETFs saw net outflows between USD 2.5 mn and USD 9.3 mn since the outbreak of the war on Gaza, according to the newswire, which were accelerated by S&amp;P Global Ratings lowering Israel\u2019s credit outlook to negative at the end of October, following similar moves from Fitch Ratings and Moody\u2019s after the outbreak of the war on Gaza, according to <a target=\"_blank\" href=\"https:\/\/www.bloomberg.com\/news\/articles\/2023-10-24\/israel-s-rating-outlook-cut-to-negative-by-s-p-on-war-risks\" style=\"\" rel=\"noopener\">Bloomberg<\/a>. Concerns over Israel\u2019s credit ratings and its status as a destination for tech investment are \u201cnot going to get better any time soon,\u201d VanEck chief economist for emerging markets Natalia Gurushina told Reuters. <\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>#2- Israel\u2019s war On Gaza has dampened global wanderlust<\/strong>: Demand for international flights in the three weeks after October 7 were down 20% on the same period in 2019, bringing to an end a rosy six-month period for the travel industry that saw bookings nearly returning to pre-pandemic levels, according to travel company data cited in the <a target=\"_blank\" href=\"https:\/\/www.ft.com\/content\/59457f5a-c618-44de-893f-0e36cc3fa980\" style=\"\" rel=\"noopener\">Financial Times<\/a>. Flight bookings in the Middle East were hit particularly hard and fell 26% in the weeks after October 7 from the period just before the outbreak of the war. <\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Is it geopolitics or inflation in home markets? <\/strong>Geopolitical uncertainty has \u201cdented consumer confidence\u201d in travel both within the region and elsewhere, says one analyst cited by the newspaper, whilst another suggests that other pressures such as inflation may also be at play. <\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>ICYMI-<\/strong><\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Missed this week\u2019s Inside Industry? <\/strong>In our weekly vertical exploring all things industry and manufacturing, we looked at <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/51e6ec72-ab3a-4d4f-ad93-63a06dff72d0\" style=\"\" rel=\"noopener\">how we can keep our furniture industry flourishing<\/a>.<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><img data-recalc-dims=\"1\" decoding=\"async\" src=\"https:\/\/i0.wp.com\/enterprise.press\/wp-content\/uploads\/2022\/10\/CIRA-Blackboard-Banner-B-1600.jpg\"><\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>*** It\u2019s Blackboard day:<\/strong> We have our weekly look at the business of education in Egypt, from pre-K through the highest reaches of higher ed. <\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>In today\u2019s issue:<\/strong> The Higher Education Ministry wants local unis to start offering local foundation courses<\/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\/acud\/\">ACUD<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/ipo-watch\/\">IPO watch<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/new-administrative-capital\/\">new administrative capital<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/privatization-watch\/\">privatization watch<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/state-privatization-program\/\">state privatization program<\/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=\"609936 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=\"609936\">\r\n            \r\n            <div class=\"story__body\">\r\n\r\n                <a href=\"https:\/\/enterpriseam.com\/egypt\/2023\/11\/13\/609936\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-609936\" class=\"content-area-description single-story post-609936 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><div class=\"grouped-tags\">\n<p><span>Discover your dream vacation: handpicked villas, chalets and apartments for your perfect getaway \u2014 let us make your winter sunshine escape unforgettable. For more information and booking inquiries, please call +20 (0)15 5600 5693, 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=\"\">somabayholidays.com<\/a><\/span><span>.<\/span><\/p>\n<\/div>\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=\"609937\" 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=\"609937\">\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\">Automotive<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2023\/11\/13\/volkswagen-to-work-with-govt-on-auto-industrial-zone-study\/\">\r\n                            Volkswagen to work with Egyptian gov\u2019t on auto industrial zone study                        <\/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\/13\/volkswagen-to-work-with-govt-on-auto-industrial-zone-study\/\" target=\"_blank\">\n                    Open in new tab                    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            <a href=\"https:\/\/api.whatsapp.com\/send?text=Volkswagen+to+work+with+gov%E2%80%99t+on+auto+industrial+zone+study+https%3A%2F%2Fenterpriseam.com%2Fegypt%2F2023%2F11%2F13%2Fvolkswagen-to-work-with-govt-on-auto-industrial-zone-study%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\/13\/volkswagen-to-work-with-govt-on-auto-industrial-zone-study\/\">\r\n                    <div class=\"photo photo--above\">\r\n                        <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2023\/11\/592.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"609938\" data-permalink=\"https:\/\/enterpriseam.com\/egypt\/2023\/11\/13\/volkswagen-to-work-with-govt-on-auto-industrial-zone-study\/592-jpg-10\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2023\/11\/592.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"592.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2023\/11\/592.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2023\/11\/592.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-609937\" class=\"content-area-description single-story post-609937 post type-post status-publish format-standard has-post-thumbnail hentry category-automotive tag-automotive tag-east-port-said-automotive-zone tag-enterpriseam tag-manufacturing tag-volkswagen 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\/.7e262872-592b-4c4a-a9a6-82e2f7ad4404.mp3\"><\/audio><\/figure>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"> <strong>Volkswagen is onboard with our efforts to localize our auto industry: <\/strong>The Madbouly government and German carmaker Volkswagen will conduct feasibility studies for the establishment of the planned East Port Said Automotive Zone (EPAZ) under an agreement inked between the two sides yesterday, a cabinet <a target=\"_blank\" href=\"https:\/\/tinyurl.com\/2p99hry2\" style=\"\" rel=\"noopener\">statement<\/a> said yesterday. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>What\u2019s VW doing? <\/strong>Volkswagen will provide the General Authority of the Suez Canal Economic Zone (SCZone), the Sovereign Fund of Egypt, and the <a target=\"_blank\" href=\"https:\/\/www.ep-egypt.com\/\" style=\"\" rel=\"noopener\">East Port Said Development Company<\/a> with technical assistance as they work on the zone\u2019s feasibility study, the statement added, without providing further details of the agreement. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>EPAZ? <\/strong>The complex, which could be home to vehicle assemblers and part manufacturerson the banks of the Suez Canal, <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/e3702d89-d4b1-469c-a826-ea626bbeab57\" style=\"\" rel=\"noopener\">popped up<\/a> on our radar in June of this year, but has already attracted <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/7a265bb5-cf07-4f72-9825-d4be3dd8e71f\" style=\"\" rel=\"noopener\">a lot of attention<\/a> from industry insiders. The hub aims to attract global players to East Port Said on the back of proximity to global shipping lanes and better access to African and Middle Eastern markets. A range of incentives will be on offer based upon what the company\u2019s operations add to the local economy and industry, investment size, production volume, and environmental compliance. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>How big is this plan<\/strong><strong>? <\/strong>The zone aims to attract investments worth some USD 240 mn and provide around 2.1k direct jobs and 4k indirect jobs as it attracts companies in feeder industries, according to the cabinet statement. African Association of Automobile Manufacturers\u2019 vice president Ahmed Fikry Abdel Wahab told Enterprise earlier in the year that the automotive industry \u201cisn\u2019t just about the factory that assembles vehicles. It\u2019s about all the feeding industries that provide all sorts of components \u2014 wiring, harnesses, seats, dashboard glass, interior carpeting, tires, etc.\u201d<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Volkwagen wants in on EPAZ because it wants in on the local industry: <\/strong>Volkswagen Group\u2019s Africa head said that the company wants to up its presence in the country and jump on board with efforts to localize the industry under the recently launched <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/0a06d4ec-4025-490e-8842-45c8a9fe0d8a\" style=\"\" rel=\"noopener\">Automotive Industry Development Program<\/a> (AIDP).<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>A foothold in Egypt gives you access to the African market: <\/strong>The Volkswagen regional boss added that it plans to use Egypt as a regional hub as part of \u201cVolkswagen\u2019s strategy to play a pioneering role in developing the automotive industry in Africa.\u201d<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>** We dove into all things East Port Said Automotive Zone <\/strong>in an <a target=\"_blank\" href=\"https:\/\/tinyurl.com\/fnfw2v48\" style=\"\" rel=\"noopener\">Inside Industry<\/a> published earlier this year. <\/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\/east-port-said-automotive-zone\/\">East Port Said Automotive Zone<\/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\/volkswagen\/\">Volkswagen<\/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=\"609939\" 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=\"609939\">\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\">Fintech<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2023\/11\/13\/instapay-could-offer-remittances-from-uae-jordan-ksa-next-year\/\">\r\n                            InstaPay could offer remittances from UAE, Jordan, KSA next year                        <\/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\/13\/instapay-could-offer-remittances-from-uae-jordan-ksa-next-year\/\" 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\/13\/instapay-could-offer-remittances-from-uae-jordan-ksa-next-year\/')\">\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\/13\/instapay-could-offer-remittances-from-uae-jordan-ksa-next-year\/\">\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=InstaPay could offer remittances from UAE, Jordan, KSA next year&url=https:\/\/enterpriseam.com\/egypt\/2023\/11\/13\/instapay-could-offer-remittances-from-uae-jordan-ksa-next-year\/\">\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\/13\/instapay-could-offer-remittances-from-uae-jordan-ksa-next-year\/&title=InstaPay could offer remittances from UAE, Jordan, KSA next year\">\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=InstaPay+could+offer+remittances+from+UAE%2C+Jordan%2C+KSA+next+year+https%3A%2F%2Fenterpriseam.com%2Fegypt%2F2023%2F11%2F13%2Finstapay-could-offer-remittances-from-uae-jordan-ksa-next-year%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\/13\/instapay-could-offer-remittances-from-uae-jordan-ksa-next-year\/\">\r\n                    <div class=\"photo photo--above\">\r\n                        <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2023\/11\/602.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"609940\" data-permalink=\"https:\/\/enterpriseam.com\/egypt\/2023\/11\/13\/instapay-could-offer-remittances-from-uae-jordan-ksa-next-year\/602-jpg-15\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2023\/11\/602.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"602.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2023\/11\/602.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2023\/11\/602.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-609939\" class=\"content-area-description single-story post-609939 post type-post status-publish format-standard has-post-thumbnail hentry category-fintech tag-enterpriseam tag-fintech tag-foreign-exchange tag-instapay tag-jordan tag-remittances tag-saudi-arabia tag-uae 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\/.c87de2ae-9fc3-4245-ac21-003404f2ed5b.mp3\"><\/audio><\/figure>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"> <strong>Progress on plans to link up InstaPay with Mideast banks:<\/strong> The Central Bank of Egypt (CBE) has reached preliminary agreements with the central banks of the UAE and Jordan \u2014 and is in advanced talks with the central bank in Saudi Arabia \u2014 to allow InstaPay users to transfer money from banks in these countries to Egyptian bank accounts, a source with firsthand knowledge of the matter told Enterprise. The CBE-run digital payment platform is expected to onboard banks in these countries and roll out the remittance services in 1H 2024, our source said, adding that the service will offer low transactions fees. The news was first picked up by <a target=\"_blank\" href=\"https:\/\/tinyurl.com\/e5j6eaua\" style=\"\" rel=\"noopener\">Asharq Business<\/a>.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Remember: <\/strong>It first came to light back in September that the central bank was <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/ae7b12f4-cd1b-4851-a8ed-a98b38e3a4d4\" style=\"\" rel=\"noopener\">looking into<\/a> allowing InstaPay transfers from the three Arab countries.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Some details are yet to be ironed out: <\/strong>The CBE is still studying whether remittances transferred via InstaPay will be credited to Egyptian accounts in local or foreign currency, our source said. The three central banks outside of Egypt will also need to work out new transfer limits with the CBE, according to Asharq\u2019s source. The <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/27d55c74-746c-4246-98b5-764ccd096384\" style=\"\" rel=\"noopener\">limits<\/a> are currently set at EGP 70k per transaction, EGP 120k per day, and EGP 400k per month.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>InstaPay is beloved at home: The app currently has over 4 mn users, our source said.<\/strong>That\u2019s at least an 82% increase from the 2.2 mn users that were subscribed back in <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/aef81f59-32cf-4d1f-bafb-4be635cb0556\" style=\"\" rel=\"noopener\">March<\/a>. In the 15-month period between its <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/16f68b1b-62fc-4d71-a4bd-a75a9f1648fb\" style=\"\" rel=\"noopener\">launch<\/a> and last June, users transferred around EGP 300 bn, of which EGP 250 bn came in the last 6 months, according to a CBE official cited by Amwal Al Ghad.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>If you\u2019re wondering what their secret to success is<\/strong>, InstaPay\u2019s decision to have zero transaction fees through the end of 2023 has undoubtedly played a big part in its popularity in the ultra-competitive local fintech market.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>All in the name of easing the FX crunch:<\/strong> The move is the latest in a string of measures taken by the government to drum up hard currency in response to the ongoing FX crunch. Other recent initiatives include allowing expats to <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/bef1d586-c5e9-4061-a227-b80ecdbff768\" style=\"\" rel=\"noopener\">import cars<\/a> in return for depositing fees in FX and offering investors generous <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/17a8718e-d87f-4515-a0c9-05d43f958eb0\" style=\"\" rel=\"noopener\">tax breaks<\/a> if they use hard currency to fund at least half of the investment cost of industrial projects.<\/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\/fintech\/\">Fintech<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/foreign-exchange\/\">foreign exchange<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/instapay\/\">InstaPay<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/jordan\/\">Jordan<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/remittances\/\">remittances<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/saudi-arabia\/\">Saudi Arabia<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/uae\/\">UAE<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                    <\/div>\n    <\/div>\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"609941\" 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=\"609941\">\r\n            \r\n                <div class=\"issue-story-header text-center\">\r\n                    <div class=\"index-number\">4<\/div>\r\n\r\n                    <p class=\"f-graphik\">WAR WATCH<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2023\/11\/13\/gazas-main-hospital-in-dire-and-perilous-situation-says-who-as-israel-continues-assault\/\">\r\n                            Gaza\u2019s main hospital in \u201cdire and perilous\u201d situation, says WHO, as Israel continues assault                        <\/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\/13\/gazas-main-hospital-in-dire-and-perilous-situation-says-who-as-israel-continues-assault\/\" target=\"_blank\">\n                    Open in new tab                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/new-tab.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a href=\"#\" target=\"_blank\" onclick=\"event.preventDefault(); 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The city\u2019s two largest hospitals, <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/0b76dc36-39d1-4683-9a0e-ba6d516e71fc\" style=\"\" rel=\"noopener\">Al Shifa<\/a> and <a target=\"_blank\" href=\"https:\/\/twitter.com\/palestinercs\/status\/1723639673912791186\" style=\"\" rel=\"noopener\">Al Quds<\/a>, as well as Kamal Adwan Hospital, have all ceased to function, forcing doctors to try to treat patients without electricity and water while Israeli forces attack the facilities. The hospitals are sheltering tens of thousands of displaced Gazans, as well as thousands of patients and medical workers. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The toll so far: <\/strong>At least two cardiology patients <a target=\"_blank\" href=\"https:\/\/www.nytimes.com\/live\/2023\/11\/12\/world\/israel-hamas-war-gaza-news\" style=\"\" rel=\"noopener\">died<\/a> on Sunday; three premature babies have also died from a lack of oxygen and some 39-45 more are reportedly at risk unless power is restored.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Israel\u2019s main focus appears to be on taking control of Al Shifa<\/strong>, under which it claims Hamas has its headquarters. The hospital has been under continuous bombardment for the past three days, which <a target=\"_blank\" href=\"https:\/\/ochaopt.org\/content\/hostilities-gaza-strip-and-israel-flash-update-37\" style=\"\" rel=\"noopener\">the UN said<\/a> yesterday has damaged critical infrastructure, including the cardiovascular facility, the ICU, and the maternity ward, and killed three of its nurses. The Israeli military has issued a call for civilians to evacuate the hospital, but reports cited by the <a target=\"_blank\" href=\"https:\/\/www.emro.who.int\/media\/news\/who-loses-communication-with-contacts-in-al-shifa-hospital-in-gaza-amid-reports-of-attacks.html\" style=\"\" rel=\"noopener\">World Health Organization<\/a> suggest that <strong>Israeli snipers have targeted people trying to flee<\/strong>. Al Shifa\u2019s management have strongly denied that Hamas is active in the hospital and have called for an independent investigation.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>\u201cThe situation [at Al Shifa] is dire and perilous<\/strong> \u2026 the number of patient fatalities has increased significantly, the hospital is not functioning as a hospital anymore,\u201d World Health Organization head Tedros Adhanom Ghebreyesus <a target=\"_blank\" href=\"https:\/\/twitter.com\/DrTedros\/status\/1723795481401217509\" style=\"\" rel=\"noopener\">wrote on X<\/a>. \u201cThe world cannot stand silent while hospitals, which should be safe havens, are transformed into scenes of death, devastation, and despair. Ceasefire. NOW.\u201d<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The Gaza Health Ministry is now unable to update its death toll due to the assault:<\/strong> The ministry\u2019s death toll hasn\u2019t been updated since Friday as medical workers are now unable to reach areas hit by Israeli airstrikes, <a target=\"_blank\" href=\"https:\/\/www.pbs.org\/newshour\/world\/people-trapped-in-gazas-main-hospital-say-they-cant-leave-as-heavy-fighting-rages-nearby\" style=\"\" rel=\"noopener\">said Mohamed Zaqout<\/a>, director of hospitals in Gaza. More than 11k Gazans, two-thirds of them women and children, have been killed since the war began less than six weeks ago, according to the latest figures.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>It\u2019s a humanitarian siege, says IDF PR team:<\/strong> Israel is trying to put a humanitarian angle on its assault, claiming yesterday that it had attempted to deliver fuel to Al Shifa (only to be thwarted by Hamas) and that it would help to evacuate the premature babies, a suggestion that has been <a target=\"_blank\" href=\"https:\/\/twitter.com\/medicalaidpal\/status\/1723714885031260348\" style=\"\" rel=\"noopener\">criticized by a medical NGO<\/a> as almost impossible to do safely. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Other developments you need to know about this morning:<\/strong><\/p>\n<ul>\n<li><strong>HOSTAGE TALKS- <\/strong>Hamas yesterday suspended hostage negotiations in response to Israel\u2019s bombardment of Al Shifa Hospital. (<a target=\"_blank\" href=\"https:\/\/www.reuters.com\/world\/middle-east\/fighting-rages-israel-says-ready-evacuate-babies-gazas-main-hospital-2023-11-11\/\" style=\"\" rel=\"noopener\">Reuters<\/a>)<\/li>\n<li><strong>AID- <\/strong>At least 80trucks crossed into Gaza from Egypt by Sunday afternoon, sources told <a target=\"_blank\" href=\"https:\/\/www.reuters.com\/world\/middle-east\/fighting-rages-israel-says-ready-evacuate-babies-gazas-main-hospital-2023-11-11\/\" style=\"\" rel=\"noopener\">Reuters<\/a>. Jordan <a target=\"_blank\" href=\"https:\/\/petra.gov.jo\/Include\/InnerPage.jsp?ID=54488&lang=en&name=en_news\" style=\"\" rel=\"noopener\">said<\/a> yesterday it had air-dropped a second batch of aid into a field hospital in Gaza on Saturday.<\/li>\n<li><strong>EVACUATIONS-<\/strong> Five hundred foreigners and dual nationals, as well as several injured Palestinians, left Gaza through the Rafah crossing yesterday, an Egyptian security official told <a target=\"_blank\" href=\"https:\/\/www.lemonde.fr\/en\/international\/article\/2023\/11\/12\/hundreds-of-dual-nationals-leave-war-torn-gaza-as-evacuations-through-egypt-resume_6248822_4.html\" style=\"\" rel=\"noopener\">AFP<\/a>. <\/li>\n<li><strong>DIPLOMACY-<\/strong> President Abdel Fattah El Sisi <a target=\"_blank\" href=\"https:\/\/tinyurl.com\/yc3th4jm\" style=\"\" rel=\"noopener\">received a phone call<\/a> from Norwegian PM Jonas Gahr St\u00f8re | Erdogan <a target=\"_blank\" href=\"https:\/\/www.newarab.com\/news\/erdogan-calls-us-do-more-stop-israel-war-gaza\" style=\"\" rel=\"noopener\">urged<\/a> Egypt and Gulf countries to increase pressure on the US | Qatari Emir Sheikh Tamim <a target=\"_blank\" href=\"https:\/\/www.whitehouse.gov\/briefing-room\/statements-releases\/2023\/11\/12\/readout-of-president-bidens-call-with-amir-sheikh-tamim-bin-hamad-al-thani-of-qatar-2\/#:~:text=President%20Joseph%20R.%20Biden%2C%20Jr,needed%20humanitarian%20assistance%20into%20Gaza.\" style=\"\" rel=\"noopener\">talked to<\/a> President Joe Biden and Prime Minister Al Thani <a target=\"_blank\" href=\"https:\/\/twitter.com\/MofaQatar_EN\/status\/1723439339055563237\/photo\/1\" style=\"\" rel=\"noopener\">spoke to<\/a> Secretary of State Antony Blinken.<\/li>\n<li><strong>REGIONAL ESCALATION- <\/strong>Skirmishes on the Lebanon-Israel border intensified yesterday when 18 Israeli soldiers were <a target=\"_blank\" href=\"https:\/\/www.theguardian.com\/world\/2023\/nov\/12\/israelis-injured-in-hezbollah-missile-strikes-as-border-tensions-grow\" style=\"\" rel=\"noopener\">injured<\/a> in a Hezbollah attack. Meanwhile, US forces <a target=\"_blank\" href=\"https:\/\/www.defense.gov\/News\/Releases\/Release\/Article\/3586509\/statement-from-secretary-of-defense-lloyd-j-austin-iii-on-additional-us-militar\/\" style=\"\" rel=\"noopener\">bombed sites in eastern<\/a><a target=\"_blank\" href=\"https:\/\/www.defense.gov\/News\/Releases\/Release\/Article\/3586509\/statement-from-secretary-of-defense-lloyd-j-austin-iii-on-additional-us-militar\/\" style=\"\" rel=\"noopener\">Syria<\/a> in retaliation for attacks against its bases by Iran-affiliated militia.<\/li>\n<\/ul>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>POST-WAR GAZA- <\/strong>Israeli Prime Minister Benjamin Netanyahu is doubling down on his previous statements about Gaza\u2019s post-war governance, <a target=\"_blank\" href=\"https:\/\/apnews.com\/article\/israel-hamas-war-news-11-11-2023-d4d272416107c02e63dabd9548395026\" style=\"\" rel=\"noopener\">saying in a televised address yesterday<\/a> that Israel will assume security control of the territory. The US has publicly rejected the idea and <a target=\"_blank\" href=\"https:\/\/www.nytimes.com\/live\/2023\/11\/08\/world\/israel-hamas-war-gaza\/blinken-says-gaza-and-west-bank-must-be-unified-under-palestinian-authority?smid=url-share\" style=\"\" rel=\"noopener\">called for<\/a> the Palestinian Authority to be put in charge of the strip, a proposal <a target=\"_blank\" href=\"https:\/\/www.axios.com\/2023\/11\/11\/gaza-palestinian-authority-control-netanyahu-hamas-war\" style=\"\" rel=\"noopener\">rejected<\/a> by Netanyahu.<\/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\/benjamin-netanyahu\/\">Benjamin Netanyahu<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/egypt-norway-relations\/\">Egypt-Norway relations<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/israel\/\">Israel<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/israel-palestine-conflict\/\">Israel-Palestine conflict<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/middle-east-politics\/\">Middle East politics<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/palestine\/\">Palestine<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/war-watch\/\">war watch<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                    <\/div>\n    <\/div>\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"609943\" 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=\"609943\">\r\n            \r\n                <div class=\"issue-story-header text-center\">\r\n                    <div class=\"index-number\">5<\/div>\r\n\r\n                    <p class=\"f-graphik\">DEBT WATCH<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2023\/11\/13\/finmin-secures-usd-500-mn-bank-loan-from-deutsche-bank-bank-abc\/\">\r\n                            Egypt secures USD 500 mn bank loan from Deutsche Bank, Bank ABC                        <\/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\/13\/finmin-secures-usd-500-mn-bank-loan-from-deutsche-bank-bank-abc\/\" 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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Following November\u2019s <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/ce19e583-ed68-49db-9e75-f748b4f180ed\" style=\"\" rel=\"noopener\">samurai<\/a> bond issuance and October\u2019s <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/24a3b396-64fe-4ac7-8fd7-c6da54bdcb5a\" style=\"\" rel=\"noopener\">panda<\/a> bond issuance, the completion of the USD 500 mn loan wraps up the Madbouly government\u2019s target of raising USD 1.5 bn by the end of the year in fresh borrowing that Maait laid out in Marrakech. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>What we know about the facility: <\/strong><\/p>\n<ul>\n<li><strong>It\u2019s medium-term<\/strong>, with a seven-year tenor.<\/li>\n<li><strong>It\u2019s expensive:<\/strong> We\u2019re reportedly <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/b5930970-3733-4fc3-a40c-a3438c4b3e4c\" style=\"\" rel=\"noopener\">paying 11.1% interest<\/a>.<\/li>\n<li><strong>Half of it is guaranteed:<\/strong>Kuwait\u2019s Arab Investment and Export Credit Guarantee Corporation (Dhaman) is guaranteeing 5.75% of the interest.<\/li>\n<\/ul>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Where the money\u2019s going: <\/strong>Renovating classrooms, the universal health ins. system, and upgrading hospitals under Haya Karima, according to a note from the House last month.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Advisors: <\/strong>The Finance Ministry <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/ab54f077-c5c2-4205-93a9-92757baed9bf\" style=\"\" rel=\"noopener\">appointed<\/a> law firm Helmy, Hamza & Partners \u2014 Baker McKenzie's Cairo office \u2014 as the local legal advisor in the negotiations, while Reed Smith acted as the international legal advisor.<\/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\/bank-abc\/\">Bank ABC<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/debt-watch\/\">debt watch<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/deutsche-bank\/\">Deutsche Bank<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/dhaman\/\">Dhaman<\/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=\"609945\" 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=\"609945\">\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\">LEGISLATION WATCH<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2023\/11\/13\/egypt-to-expand-ties-with-african-infrastructure-investment-platform-tougher-penalties-for-harassers-approved\/\">\r\n                            Egypt to expand ties with African infrastructure investment platform + Tougher penalties for harassers approved          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                <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2023\/11\/619.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"609946\" data-permalink=\"https:\/\/enterpriseam.com\/egypt\/2023\/11\/13\/egypt-to-expand-ties-with-african-infrastructure-investment-platform-tougher-penalties-for-harassers-approved\/619-jpg-9\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2023\/11\/619.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"619.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2023\/11\/619.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2023\/11\/619.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-609945\" class=\"content-area-description single-story post-609945 post type-post status-publish format-standard has-post-thumbnail hentry category-legislation-watch tag-africa50 tag-african-development-bank tag-enterpriseam tag-house-of-representatives tag-investment-watch tag-legislation-watch tag-penal-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\/.bc816c22-909d-4d0d-91f1-40e0dec5e235.mp3\"><\/audio><\/figure>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Egypt is strengthening ties with an Africa-led infrastructure investment <\/strong><strong>platform: <\/strong>The House yesterday signed off on two presidential decrees allowing Egypt to expand its relationship with <a target=\"_blank\" href=\"https:\/\/www.africa50.com\/\" style=\"\" rel=\"noopener\">Africa50<\/a>, an infrastructure investment platform established by African governments and the African Development Bank (AfDB). The decrees will see Egypt join the platform\u2019s <a target=\"_blank\" href=\"https:\/\/www.africa50.com\/investing-for-growth\/investment-vehicles\/project-development\/\" style=\"\" rel=\"noopener\">project development<\/a> and the <a target=\"_blank\" href=\"https:\/\/www.africa50.com\/investing-for-growth\/investment-vehicles\/project-finance\/\" style=\"\" rel=\"noopener\">project finance<\/a> arms:<\/p>\n<ul>\n<li><strong>Project development<\/strong> focuses on increasing the number of bankable infrastructure projects. Operating under a venture capital model, it provides equity investments of USD 2-10 mn in early-stage projects in return for significant minority stakes.<\/li>\n<li><strong>Project finance<\/strong> follows a private equity model, investing larger amounts (more than USD 20 mn) in return for significant minority stakes. It focuses more on profitability and development impact. <\/li>\n<\/ul>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The focus:<\/strong> Africa50 targets projects in the power, transport, IT, midstream gas sectors, and has recently broadened its remit to include fintech, health and education-focused projects.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Africa50 in Egypt:<\/strong> The platform has <a target=\"_blank\" href=\"https:\/\/www.africa50.com\/investing-for-growth\/projects-investments\/scatec-egypt-benban-solar-plants\/\" style=\"\" rel=\"noopener\">invested in Scatec\u2019s 400-MW solar plant<\/a> at the giant 1.5-GW Benban project.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>ALSO- Stricter penalties for harassers:<\/strong><a target=\"_blank\" href=\"https:\/\/ent.news\/2023\/11\/605.pdf\" style=\"\" rel=\"noopener\">Amendments to the Penal Code (pdf)<\/a> also got the greenlight, adding tougher penalties for harassment that takes place under certain circumstances. Harassment in the workplace and on transportation falls under the offenses that deserve more severe punishments: up to five years in prison in the case of physical, verbal, online or visual harassment, and up to seven years if the offender\u2019s actions aim to take [redacted] advantage of the victim. The amendments also include new tougher penalties for extreme cases that fall under a specific list of conditions. <\/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\/africa50\/\">Africa50<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/african-development-bank\/\">African Development Bank<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/house-of-representatives\/\">House of Representatives<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/investment-watch\/\">investment watch<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/legislation-watch\/\">Legislation Watch<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/penal-code\/\">penal code<\/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=\"609947 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=\"609947\">\r\n            \r\n            <div class=\"story__body\">\r\n\r\n                <a href=\"https:\/\/enterpriseam.com\/egypt\/2023\/11\/13\/609947\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-609947\" class=\"content-area-description single-story post-609947 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=\"609948\" 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=\"609948\">\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\/13\/criticism-of-the-slow-pace-of-privatization-an-airport-cyberattack-and-gaza-blanket-the-airwaves\/\">\r\n                            Criticism of slow privatization, an airport cyberattack, and Gaza blanket the airwaves                        <\/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\/13\/criticism-of-the-slow-pace-of-privatization-an-airport-cyberattack-and-gaza-blanket-the-airwaves\/\" target=\"_blank\">\n                    Open in new tab                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/new-tab.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a href=\"#\" target=\"_blank\" onclick=\"event.preventDefault(); 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The talkshows were packed with coverage of the war on <strong>Gaza<\/strong> (we have the latest developments in this morning\u2019s War Watch, above), criticism about the pace of the government\u2019s <strong>privatization<\/strong> drive, and a <strong>cyberattack<\/strong> that hit the Cairo Airport website.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>#1- PRIVATIZATION (or rather the lack of it):<\/strong> Kelma Akhira\u2019s Lamees El Hadidi voiced frustration about the pace of the government\u2019s privatization drive last night following Prime Minister Moustafa Madbouly\u2019s <a target=\"_blank\" href=\"https:\/\/tinyurl.com\/4y66d2ea\" style=\"\" rel=\"noopener\">announcement<\/a> that he will soon hold a press conference to provide updates on the program. \u201cThe PM says he will hold a press conference announcing an upcoming offering plan. What happened to the privatization plan <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/a94808c5-7a0c-4027-a786-804f2dc35954\" style=\"\" rel=\"noopener\">announced in February<\/a> ?\u201d El Hadidi said. \u201cWe don\u2019t want promises of what\u2019s to come, we want announcements of sales that have happened,\u201d she added (<a target=\"_blank\" href=\"https:\/\/www.youtube.com\/watch?v=je84cBu0Xac\" style=\"\" rel=\"noopener\">watch, runtime: 1:21<\/a>). <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>\u201c[Madbouly\u2019s announcement] is very confusing and a little strange<\/strong> \u2026 movement has been very slow on the privatization plan,\u201d economist Medhat Nafei told El Hadidi (<a target=\"_blank\" href=\"https:\/\/www.youtube.com\/watch?v=NmYpzPKH7_g\" style=\"\" rel=\"noopener\">watch, runtime: 7:36<\/a>), voicing skepticism of the government\u2019s plan to sell down its ownership in 32 companies and assets by the middle of 2024.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>#2- GAZA- US humanitarian envoy defends siege of Gaza hospitals:<\/strong> The Biden administration\u2019s Middle East humanitarian envoy David Satterfield sat down with Kelma Akhira\u2019s Lamees El Hadidi (<a target=\"_blank\" href=\"https:\/\/www.youtube.com\/watch?v=Edu1OucIFtw\" style=\"\" rel=\"noopener\">watch, runtime: 24:16<\/a>) to give the US position on events in Gaza. \u201cAl Shifa [hospital] is the cover for, the protection of, the shield of a major Hamas facility,\u201d Satterfield claimed, defending the Israeli military\u2019s use of tanks and snipers to attack the facility. At one point, El Hadidi held up several images portraying the suffering being endured by Gazans, which Satterfield justified with references to Hamas as a \u201ccult of death.\u201d <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Has Israel committed war crimes?<\/strong> \u201cWe do not comment on the day-by-day conduct of this campaign,\u201d Satterfield said.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Al Shifa Hospital has gone out of service: <\/strong>\u201cAl Shifa Hospital has been completely besieged for the past couple of days \u2026 no one can come in and no one can leave and those who tried ended up killed or wounded,\u201d the hospital\u2019s general director, Mohamed Abu Selmia, told Masa\u2019a DMC (<a target=\"_blank\" href=\"https:\/\/www.facebook.com\/watch\/?v=318162334256232\" style=\"\" rel=\"noopener\">watch, runtime: 4:42<\/a>). Water and electricity has been cut off and the hospital is no longer able to function, he said.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>\u201cCNN stands for Credibility Not Now\u201d:<\/strong> That jibe came from communications professor Sami Abdelaziz, who appeared on Masa\u2019a DMC to discuss the Western press\u2019 slanted coverage of the conflict (<a target=\"_blank\" href=\"https:\/\/www.facebook.com\/watch\/?v=704648634918617\" style=\"\" rel=\"noopener\">watch, runtime: 3:49<\/a>).<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>#3- HACK ATTACK- First the <\/strong><strong><a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/487b31b1-e265-45f4-8ab9-cb8f7ee93236\" style=\"\" rel=\"noopener\">Fawry scare<\/a><\/strong><strong>, now the Cairo Airport website under cyberattack? <\/strong>The Cairo International Airport\u2019s <a target=\"_blank\" href=\"https:\/\/tinyurl.com\/ds5t43rs\" style=\"\" rel=\"noopener\">website went offline<\/a> for a little while yesterday following an aggressive cyberattack, the airport\u2019s head of technology Abdel Khalek Lotfy told El Hadidi (<a target=\"_blank\" href=\"https:\/\/www.youtube.com\/watch?v=6qVK9m8O_qg\" style=\"\" rel=\"noopener\">watch, runtime: 6:15<\/a>), explaining that the airport\u2019s systems remain untouched protected by \u201csome of the most advanced international systems.\u201d Yesterday\u2019s incident was a denial-of-service attack, an attempt to bring down the website and make it unusable. \u201cOver the past period, the airport\u2019s website has been under a number of individual ransomware attacks aimed at deleting some information from the website but our firewall and security measures were able to counter these attacks,\u201d he 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\/egypt-us-relations\/\">Egypt-US relations<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/israel-palestine-conflict\/\">Israel-Palestine conflict<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/last-nights-talk-shows\/\">LAST NIGHT\u2019S TALK SHOWS<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/middle-east-politics\/\">Middle East politics<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" 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data-label=\"Slide %%d\"><\/div><\/div><\/div>\r\n        <\/div>\r\n<\/section> \r\n\r\n\n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"609951\" 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=\"609951\">\r\n            \r\n                <div class=\"issue-story-header text-center\">\r\n                    <div class=\"index-number\">8<\/div>\r\n\r\n                    <p class=\"f-graphik\">EGYPT IN THE NEWS<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2023\/11\/13\/gem-to-open-by-may-2024-focused-now-on-the-final-touches-says-issa\/\">\r\n                            Egypt\u2019s Grand Egyptian Museum to open by May 2024, focused now on the \u201cfinal touches\u201d                        <\/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\/13\/gem-to-open-by-may-2024-focused-now-on-the-final-touches-says-issa\/\" 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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Issa&url=https:\/\/enterpriseam.com\/egypt\/2023\/11\/13\/gem-to-open-by-may-2024-focused-now-on-the-final-touches-says-issa\/\">\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\/13\/gem-to-open-by-may-2024-focused-now-on-the-final-touches-says-issa\/&title=GEM to open by May 2024, focused now on the \u201cfinal touches,\u201d says Issa\">\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 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size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"609952\" data-permalink=\"https:\/\/enterpriseam.com\/egypt\/2023\/11\/13\/gem-to-open-by-may-2024-focused-now-on-the-final-touches-says-issa\/631-jpg-5\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2023\/11\/631.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"631.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2023\/11\/631.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2023\/11\/631.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-609951\" class=\"content-area-description single-story post-609951 post type-post status-publish format-standard has-post-thumbnail hentry category-egypt-in-the-news tag-ahmed-issa tag-enterpriseam tag-grand-egyptian-museum tag-tourism tag-wegz 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\/.bb3af47d-df28-44e7-b8a5-95f3a37662c6.mp3\"><\/audio><\/figure>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"> <strong>The Grand Egyptian Museum is dominating the conversation on Egypt <\/strong>in the international press this morning as Tourism Ministry Ahmed Issa\u2019s suggestion that the site could be open to visitors by next May. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Issa told <\/strong><strong><a target=\"_blank\" href=\"https:\/\/edition.cnn.com\/videos\/world\/2023\/11\/07\/exp-egypt-museum-tourism-intv-11073pseg1-cnni-world.cnn\" style=\"\" rel=\"noopener\">CNN\u2019s Richard Quest<\/a><\/strong><strong> we can expect the official opening of the GEM \u201cprobably <\/strong><strong>between February and May\u201d <\/strong>of 2024, saying, \u201cWe\u2019re focused on the final touches \u2014 on lighting and audio guides. We\u2019ve inspected the ticketing and security systems. I think we\u2019re advancing very quickly and within the next couple of months we\u2019ll be able to get some tourists in \u2014 in terms of soft opening to test the systems. The official opening day will probably be between February and May.\u201d<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The museum is getting tons of ink in the global art and design press<\/strong>, with <a target=\"_blank\" href=\"https:\/\/www.architecturaldigest.com\/story\/everything-we-know-about-the-billion-dollar-grand-egyptian-museum\" style=\"\" rel=\"noopener\">Architectural<\/a><a target=\"_blank\" href=\"https:\/\/www.architecturaldigest.com\/story\/everything-we-know-about-the-billion-dollar-grand-egyptian-museum\" style=\"\" rel=\"noopener\">Digest<\/a>, <a target=\"_blank\" href=\"https:\/\/www.artnews.com\/art-news\/news\/egypts-grand-museum-billion-dollar-gize-pyramid-cairo-tourism-1234686174\/\" style=\"\" rel=\"noopener\">ArtNews<\/a>, and <a target=\"_blank\" href=\"https:\/\/www.thecollector.com\/the-grand-egyptian-museum-soon-opens-for-visitors\/\" style=\"\" rel=\"noopener\">The Collector<\/a> all taking note. It\u2019s also getting ink in the <a target=\"_blank\" href=\"https:\/\/www.ttgmedia.com\/news\/long-awaited-grand-egyptian-museum-finally-set-to-open-next-summer-43219\" style=\"\" rel=\"noopener\">travel<\/a> and <a target=\"_blank\" href=\"https:\/\/www.globalconstructionreview.com\/nearly-there-previewing-the-grand-egyptian-museum\/\" style=\"\" rel=\"noopener\">construction<\/a> trade media.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Also on the tourism front: <\/strong><strong>Egypt was named one of <\/strong><strong><a target=\"_blank\" href=\"https:\/\/www.lonelyplanet.com\/best-in-travel\" style=\"\" rel=\"noopener\">Lonely Planet<\/a><\/strong><strong>\u2019s<\/strong><strong> top 50 travel <\/strong><strong>destinations for 2024.<\/strong> Meanwhile, a British inquest has found that a UK couple on holiday here died of carbon monoxide poisoning, according to the <a target=\"_blank\" href=\"https:\/\/www.bbc.com\/news\/uk-england-lancashire-67381068\" style=\"\" rel=\"noopener\">BBC<\/a>. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>PLUS- Wegz Worldwide:<\/strong> Spotify\u2019s most streamed artist across the MENA region in 2022, Egyptian rapper Wegz, is the subject of a <a target=\"_blank\" href=\"https:\/\/www.nytimes.com\/2023\/11\/10\/arts\/music\/wegz-egyptian-rapper.html?searchResultPosition=5\" style=\"\" rel=\"noopener\">New York Times<\/a> profile as he completes the ninth stop of his world tour.<\/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\/ahmed-issa\/\">Ahmed Issa<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/grand-egyptian-museum\/\">Grand Egyptian Museum<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/tourism\/\">tourism<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/wegz\/\">Wegz<\/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=\"609953\" class=\"issue-section \">\n<div class=\"issue-section__content\">\n<div class=\"stories\">    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"609954\" 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=\"609954\">\r\n            \r\n                <div class=\"issue-story-header text-center\">\r\n                    <div class=\"index-number\">9<\/div>\r\n\r\n                    <p class=\"f-graphik\">Also on our Radar<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2023\/11\/13\/elsewedy-electric-arab-contractors-secure-usd-500-mn-afreximbank-credit-facilities-plus-new-pharma-company-acquires-stakes-in-jordanian-diagnostics-player\/\">\r\n                            Elsewedy Electric, Arab Contractors secure USD 500 mn Afreximbank credit facilities. PLUS: New pharma company acquires stakes in Jordanian diagnostics player                        <\/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\/13\/elsewedy-electric-arab-contractors-secure-usd-500-mn-afreximbank-credit-facilities-plus-new-pharma-company-acquires-stakes-in-jordanian-diagnostics-player\/\" 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\/13\/elsewedy-electric-arab-contractors-secure-usd-500-mn-afreximbank-credit-facilities-plus-new-pharma-company-acquires-stakes-in-jordanian-diagnostics-player\/')\">\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\/13\/elsewedy-electric-arab-contractors-secure-usd-500-mn-afreximbank-credit-facilities-plus-new-pharma-company-acquires-stakes-in-jordanian-diagnostics-player\/\">\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=Elsewedy Electric, Arab Contractors secure USD 500 mn Afreximbank credit facilities. PLUS: New pharma company acquires stakes in Jordanian diagnostics player&url=https:\/\/enterpriseam.com\/egypt\/2023\/11\/13\/elsewedy-electric-arab-contractors-secure-usd-500-mn-afreximbank-credit-facilities-plus-new-pharma-company-acquires-stakes-in-jordanian-diagnostics-player\/\">\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\/13\/elsewedy-electric-arab-contractors-secure-usd-500-mn-afreximbank-credit-facilities-plus-new-pharma-company-acquires-stakes-in-jordanian-diagnostics-player\/&title=Elsewedy Electric, Arab Contractors secure USD 500 mn Afreximbank credit facilities. 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Afreximbank previously supported the <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/850205fa-f25d-4230-9f82-a397f4f474cb\" style=\"\" rel=\"noopener\">Julius Nyerere Dam<\/a> in Tanzania, which was developed by Elsewedy and Arab Contractors under a USD 2.9 bn contract.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>PHARMA-<\/strong><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Premium Diagnostics snaps up 50% stake in Jordan-based medical labs:<\/strong><a target=\"_blank\" href=\"https:\/\/premium-dx.com\/\" style=\"\" rel=\"noopener\">Pr<\/a><a target=\"_blank\" href=\"https:\/\/premium-dx.com\/\" style=\"\" rel=\"noopener\">emiu<\/a><a target=\"_blank\" href=\"https:\/\/premium-dx.com\/\" style=\"\" rel=\"noopener\">m<\/a><a target=\"_blank\" href=\"https:\/\/premium-dx.com\/\" style=\"\" rel=\"noopener\">Diagnostics<\/a> \u2014 a pharma distributor <a target=\"_blank\" href=\"https:\/\/tinyurl.com\/yc5ay97p\" style=\"\" rel=\"noopener\">recently established<\/a> by former Speed Medical chairman Mahmoud Lasheen and foreign investors \u2014has acquired a 50% stake in an undisclosed Jordan-based medical laboratories firm for USD 4 mn, Lasheen told Al Mal (<a target=\"_blank\" href=\"https:\/\/www.youtube.com\/watch?v=tVGqiIRtw7E\" style=\"\" rel=\"noopener\">watch, runtime: 59:18<\/a>). The acquisition will support the company\u2019s plan to set up medical labs in Egypt, Saudi Arabia, and Jordan, he said. <\/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\/afreximbank\/\">AfreximBank<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/also-on-our-radar\/\">ALSO ON OUR RADAR<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/arab-contractors\/\">Arab Contractors<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/debt-watch\/\">debt watch<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/development-finance\/\">development finance<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/elsewedy-electric\/\">Elsewedy Electric<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/jordan\/\">Jordan<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/pharma\/\">pharma<\/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=\"609956\" class=\"issue-section markets\">\n<div class=\"issue-section__content\">\n<div class=\"stories\">            <!-- Show divider before story section -->\r\n        <div \r\n            class=\"\r\n                story-section            \"\r\n            id=\"609956\">\r\n            \r\n                <div class=\"issue-story-header text-center\">\r\n                    <div class=\"index-number\">10<\/div>\r\n\r\n                    <p class=\"f-graphik\">PLANET FINANCE<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2023\/11\/13\/sp-500-companies-3q-2023-earnings-come-in-four-times-above-analyst-expectations\/\">\r\n                            S&amp;P 500 companies\u2019 3Q 2023 earnings come in four times above analyst expectations                        <\/a>\r\n                    <\/h3>\r\n\r\n                    \r\n\t\t\t\t\t\n<div 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src=\"https:\/\/i0.wp.com\/ent.news\/2023\/11\/613.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"609957\" data-permalink=\"https:\/\/enterpriseam.com\/egypt\/2023\/11\/13\/sp-500-companies-3q-2023-earnings-come-in-four-times-above-analyst-expectations\/613-jpg-11\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2023\/11\/613.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"613.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2023\/11\/613.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2023\/11\/613.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-609956\" class=\"content-area-description single-story post-609956 post type-post status-publish format-standard has-post-thumbnail hentry category-planet-finance tag-enterpriseam tag-financial-markets tag-planet-finance tag-private-equity tag-startups tag-venture-capital 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\/.7a400e4a-159f-4008-89a8-b40de7a2f718.mp3\"><\/audio><\/figure><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>It's shaping up to be the best quarter for US corporate earnings in over a year:<\/strong> With most S&amp;P 500 companies having reported 3Q 2023 results, earnings are estimated to have jumped 6.3% y-o-y, according to LSEG data cited by <a target=\"_blank\" href=\"https:\/\/www.reuters.com\/markets\/us\/us-company-earnings-set-biggest-quarterly-gain-over-year-2023-11-10\/\" style=\"\" rel=\"noopener\">Reuters<\/a>. The increase in earnings is almost four times above analyst predictions cited by the newswire, with over 81% of 3Q results topping analysts\u2019 expectations. Analysts predictions for 4Q, however, have been slashed to a 5.8% increase in earnings, down from 11% forecasted at the start of the quarter.<\/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>High interest rates have given top four US banks a bigger piece of the pie:<\/strong> America\u2019s four biggest lenders \u2014 JPMorgan Chase, Bank of America, Wells Fargo, and Citigroup \u2014 took 45% of the industry\u2019s combined profits in 3Q2023 across the country\u2019s total 4.4k banks, up 10% from the year before, the <a target=\"_blank\" href=\"https:\/\/www.ft.com\/content\/153b192e-5600-4b6a-9980-01c9a48f31cb\" style=\"\" rel=\"noopener\">Financial Times<\/a> reported. Unlike for the four largest banks, higher deposit pressure on smaller banks has squeezed net interest margins and led to profits decreasing 19% y-o-y in the quarter, according to the salmon-coloured paper.<\/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>Private equity firms set their sights on startups after VC retreat: <\/strong>Investment groups are buying majority and controlling stakes in startups, capitalizing on low valuations and the gap in the market left by venture capitalists as uncertainty and rising interest rates forced the latter to pull out their investments, <a target=\"_blank\" href=\"https:\/\/www.ft.com\/content\/7eaa42f1-6301-45e3-8468-2e22e666cf11\" style=\"\" rel=\"noopener\">Financial Times<\/a> reports.<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>ICYMI: VC activity has seen a significant drop this year<\/strong>, with just USD 73 bn investment worldwide in 3Q, down from USD 106 bn in the same period last year, according to data from PitchBook cited by the salmon-coloured paper. . <\/p><p><a target=\"_blank\" id=\"t.645443927eb5bad9e2e7e6d2920406ef000ebbd0\" 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\">23,911<\/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\">-1.7% (YTD: +63.8%)<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-none\">\n<td class=\"td-list-none\">\n<p><svg class=\"e-icon e-TypeMarkets\"><use xlink:href=\"#e-TypeMarkets\"><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>USD (CBE)<\/strong><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">Buy 30.83<\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">Sell 30.96<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-none\">\n<td class=\"td-list-none\">\n<p><svg class=\"e-icon e-TypeMarkets\"><use xlink:href=\"#e-TypeMarkets\"><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>USD at CIB<\/strong><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">Buy 30.85<\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">Sell 30.95<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-none\">\n<td class=\"td-list-none\">\n<p><svg class=\"e-icon e-TypeMarkets\"><use xlink:href=\"#e-TypeMarkets\"><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>Interest rates CBE<\/strong><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">19.25% deposit<\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">20.25% lending<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-down\">\n<td class=\"td-list-down\">\n<p><svg class=\"e-icon e-TypeMarkets1\"><use xlink:href=\"#e-TypeMarkets1\"><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>Tadawul<\/strong><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">10,834<\/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: +3.4%)<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-up\">\n<td class=\"td-list-up\">\n<p><svg class=\"e-icon e-TypeMarkets11\"><use xlink:href=\"#e-TypeMarkets11\"><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>ADX<\/strong><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">9,553<\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">+0.3% (YTD: -6.5%)<\/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\">3,969<\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">+1.0% (YTD: +19.0%)<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-up\">\n<td class=\"td-list-up\">\n<p><svg class=\"e-icon e-TypeMarkets11\"><use xlink:href=\"#e-TypeMarkets11\"><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>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\">4,415<\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">+1.6% (YTD: +15.0%)<\/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\">7,361<\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">-1.3% (YTD: -1.2%)<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-down\">\n<td class=\"td-list-down\">\n<p><svg class=\"e-icon e-TypeMarkets1\"><use xlink:href=\"#e-TypeMarkets1\"><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>Euro Stoxx 50<\/strong><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">4,197<\/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: +10.6%)<\/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>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 81.43<\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">+1.8%<\/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 3.03<\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">-0.3%<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-down\">\n<td class=\"td-list-down\">\n<p><svg class=\"e-icon e-TypeMarkets1\"><use xlink:href=\"#e-TypeMarkets1\"><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>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 1,937.70<\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">-1.6%<\/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 37,175.37<\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">+0.5% (YTD: +124.8%)<\/p>\n<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<\/div><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>THE CLOSING BELL-<\/strong><\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The EGX30 fell 1.7% at yesterday\u2019s close<\/strong> on turnover of EGP 3.2 bn (25.5% above the 90-day average). Foreign investors were net sellers. The index is up 63.8% YTD.<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>In the green: <\/strong>Credit Agricole (+3.2%), Oriental Weavers (+1.9%) and Palm Hills Development (+1.5%).<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>In the red: <\/strong>Fawry (-5.0%), Mopco (-4.6%) and Heliopolis Housing (-3.9%).<\/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\/financial-markets\/\">Financial Markets<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/planet-finance\/\">Planet Finance<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/private-equity\/\">private equity<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/startups\/\">startups<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/venture-capital\/\">venture capital<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                    <\/div>\n    <\/div>\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<div class=\"alignfull vertical-section wide-section blackboard wp-block-group issue-section\" id=\"609958\">\r\n    <div class=\"issue-section__content\">\r\n        <div class=\"alignwide wp-block-columns\">\r\n            <div class=\"wp-block-column sidebar-vertical-info\" style=\"flex-basis:22.8%\">\r\n                <figure class=\"wp-block-image size-full\">\r\n                                            <img decoding=\"async\" src=\"https:\/\/s3.amazonaws.com\/resources.inktankir.com\/internal\/27466.svg\" style=\"width:80%\" alt=\"\" >\r\n                                    <\/figure>\r\n                <p>\r\n                    Our weekly deep dive into education in Egypt, from K-12 to post-secondary.                <\/p>\r\n                <figure class=\"wp-block-image size-full mt-0 mb-0 img-white-bg\"><img decoding=\"async\" src=\"https:\/\/s3.amazonaws.com\/resources.inktankir.com\/internal\/27480.svg\" alt=\"\"><\/figure>\r\n                <p class=\"has-text-color has-link-color\">\r\n                    Published every Monday in EnterpriseAM.                <\/p>\r\n                <div class=\"wp-block-buttons mt-0\">\r\n                    <div class=\"wp-block-button\">\r\n                        <a class=\"wp-block-button__link has-background wp-element-button\" href=\"https:\/\/enterpriseam.com\/egypt\/blackboard\/\">\r\n                            Read Blackboard                        <\/a>\r\n                    <\/div>\r\n                <\/div>\r\n            <\/div>\r\n            <div class=\"wp-block-column issue-section\">\r\n                <div class=\"story-section\">\r\n                    <div class=\"issue-story-header text-center\">\r\n                        <div class=\"index-number\">11<\/div>\r\n\r\n                        <p class=\"f-graphik\">BLACKBOARD<\/p>\r\n                        <h3 class=\"story-title\"><a href=\"https:\/\/enterpriseam.com\/egypt\/blackboards\/the-higher-education-ministry-wants-local-unis-to-start-offering-foundation-courses\/\">\r\n                            The Higher Education Ministry wants local unis to start offering foundation courses<\/a>\r\n                        <\/h3>\r\n                        \r\n\t\t\t\t\t\n<div class=\"cta\">\n    <div class=\"cta__btn share-dropdown-cta dropdown-toggle-btn\" style=\"position:relative\">\n        <img decoding=\"async\" src=\"https:\/\/ent.news\/internal\/408834.svg\" alt=\"\">\n        Share Story\n        <!-- Dropdown Menu -->\n        <ul class=\"share-menu\">\n            <li class=\"list-inline-item\">\n                <a href=\"https:\/\/enterpriseam.com\/egypt\/blackboards\/the-higher-education-ministry-wants-local-unis-to-start-offering-foundation-courses\/\" target=\"_blank\">\n                    Open in new tab                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/new-tab.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a href=\"#\" target=\"_blank\" onclick=\"event.preventDefault(); 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The Higher Education Ministry is studying a proposal to offer the foundation year at universities in Egypt to students who wish to study overseas, they told us \u2014 a positive step towards the internationalization of Egypt\u2019s education system as well as curbing the country\u2019s debilitating FX crunch and the ongoing \u201c<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>What is a foundation year?<\/strong> Students enrolling in British and other international universities are able to take an introductory \u201cfoundation\u201d year to prepare them for undertaking an undergraduate degree. Over the course of the year, students study a variety of subjects in their chosen field of study \u2014 whether that\u2019s accounting or business, or humanities or arts and design \u2014 helping them make the jump to university education. Foundation years are popular with mature students, international students, and students who didn\u2019t didn\u2019t achieve the requisite exam results.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The outflow of Egyptian students is both a brain and an FX drain: <\/strong>Previous ministry estimations showed that around 27k students spend a combined EGP 20 bn to study at European and American universities, the government source added. The total number of Egyptian students taking their degrees abroad has more than tripled over the past two decades, rising from 8.8k students in 2000 to more than 50k during the school year 2022\/2023, according to the latest data from <a target=\"_blank\" href=\"https:\/\/rb.gy\/ff6ur5\" style=\"\" rel=\"noopener\">Unesco<\/a>. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The amount of spending by Egyptian students abroad has risen in recent <\/strong><strong>years<\/strong>. However, it is difficult to reach a conclusive figure because parents use several ways and various exchange rates to pay for overseas tuition fees, making it difficult to estimate the real value of the transferred FX, the source explained.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Want to study abroad? Completing a local foundation year may become a requireme<\/strong><strong>nt<\/strong>, according to our source, who told us that the ministry wants them to become a prerequisite for international study. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Expect the wheels to be in motion by the beginning of the 2024-25 academic year<\/strong>, our source told us. Under a soon to be announced plan, <a target=\"_blank\" href=\"https:\/\/mohesr.gov.eg\/ar-eg\/Pages\/Branches_foreign_universities.aspx\" style=\"\" rel=\"noopener\">seven international universities<\/a> are expected to offer foundation years, including the University of London in the new capital which already has a foundation year program.The university offers the foundation year through its branch hosted at the <a target=\"_blank\" href=\"https:\/\/eue.edu.eg\/\" style=\"\" rel=\"noopener\">European Universities in Egypt<\/a> (EUE). More institutions are expected to start offering their own programs at a later date.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Offering foundation courses could convince Egyptian students to stick with Egypt:<\/strong>Rolling out new programs will encourage students to consider enrolling in the Egyptian system, which has increased in quality and diversity, said Obada Sarhan, president of Future University in Egypt.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Striking academic partnerships to build Egyptian unis\u2019 knowledge and reputation: <\/strong>Under regulations, universities planning to launch new faculties and departments must establish an academic partnership with a university overseas. This measure will give Egyptian universities the opportunity to advance and expand their capacity and build a reputation abroad, Sarhan said. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The international branch campuses program is a key feature of the higher education <\/strong><strong>reform process. <\/strong>Under <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/1e13621c-5bf8-4d05-9815-c8c235fca068\" style=\"\" rel=\"noopener\">regulations<\/a>, foreign universities can open branches in Egypt by establishing their own campuses, such as the German International University of Applied Sciences, or by collaborating with Egyptian educational hubs that host branches of international universities, such as the Knowledge Hub. They can also permit foreigners to own and run educational institutions and grant them complete academic independence, separate from the Egyptian system.<\/p>\n<hr style=\"height:2px;border-width:0;color:gray;background-color:gray\">\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Your top education story for the week: <\/strong><strong>Value Makers Studio invests in local edutech startup OBM Education:<\/strong> Student career advising startup OBM Education has secured <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/a5e38745-faf9-40f6-a008-c2f295aa23bc\" style=\"\" rel=\"noopener\">a six-figure USD investment<\/a> from Saudi accelerator Value Makers Studio.<\/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\/blackboard\/\">Blackboard<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/education\/\">Education<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                    <\/div>\n    <\/div>\n\r\n                    <\/div>\r\n                <\/div>\r\n            <\/div>\r\n            <div class=\"wp-block-column\" style=\"flex-basis:19.8%\"><\/div>\r\n        <\/div>\r\n    <\/div>\r\n<\/div>\n<section id=\"609960\" 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\/13\/609960\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-609960\" class=\"content-area-description single-story post-609960 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>9-15 November (Thursday-Wednesday): <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/www.intrafricantradefair.com\/en%3Futm_source%3DIATF%252027%252F02&utm_campaign%3D226fc251f7-EMAIL_CAMPAIGN_2023_05_30_12_03&utm_medium%3Demail&utm_term%3D0_-226fc251f7-%255BLIST_EMAIL_ID%255D\" style=\"\">Intra-African Trade Fair<\/a><\/span><span style=\"font-weight:400;\">, Cairo.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span>14-15 November (Tuesday-Wednesday): <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/destination-africa.org\" style=\"\">Destination Africa<\/a><\/span><span style=\"font-weight:400;\">, Royal Maxim Palace Kempinski Hotel. <\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span>14-15 November (Tuesday-Wednesday): <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/www.egyptvcsummit.com\/summit\" style=\"\">Egypt VC Summit<\/a><\/span><span style=\"font-weight:400;\">, 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>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>VW to work on Egypt auto strategy | Core inflation slows | ACUD IPO update | Instapay could go regional in 2024<\/p>\n","protected":false},"featured_media":609933,"menu_order":0,"template":"","categories":[],"tags":[],"class_list":["post-609932","issue","type-issue","status-publish","has-post-thumbnail","hentry","wpautop","entry"],"acf":{"mongo_id":"72fcdfa1-6990-47d2-b9a1-a1342a37e1ba","teaser":"VW to work on Egypt auto strategy | Core inflation slows | ACUD IPO update | Instapay could go regional in 2024","photo_url":"https:\/\/ent.news\/2023\/11\/629.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>Grand Egyptian Museum to open by May, Issa says - EnterpriseAM Egypt<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/enterpriseam.com\/egypt\/issues\/grand-egyptian-museum-to-open-by-may-issa-says\/\" \/>\n<meta property=\"og:locale\" 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