{"id":610304,"date":"2023-11-19T00:00:00","date_gmt":"2023-11-19T00:00:00","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/?post_type=issue&#038;p=610304"},"modified":"2025-12-17T02:05:16","modified_gmt":"2025-12-17T02:05:16","slug":"with-still-more-signs-of-inbound-fx-madbouly-is-talking-up-the-end-of-the-fx-crunch","status":"publish","type":"issue","link":"https:\/\/enterpriseam.com\/egypt\/issues\/with-still-more-signs-of-inbound-fx-madbouly-is-talking-up-the-end-of-the-fx-crunch\/","title":{"rendered":"With still more signs of inbound FX, Madbouly is talking up the end of the FX crunch"},"content":{"rendered":"<section id=\"610306\" 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=\"610306\">\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\/19\/altman-out\/\">\r\n                            OpenAI shows Sam Altman the door in shock ouster                        <\/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\/19\/altman-out\/\" target=\"_blank\">\n                    Open in new tab                    <!-- <img 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data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2023\/11\/972.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2023\/11\/972.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-610306\" class=\"content-area-description single-story post-610306 post type-post status-publish format-standard has-post-thumbnail hentry category-what-were-tracking-today tag-ai tag-enterpriseam tag-openai tag-sam-altman 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\/.eeffd849-3b85-4f5b-ba21-0d7eed9e4a42.mp3\"><\/audio><\/figure><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Good morning, wonderful people. <\/strong>We have an important programming note for you before we get underway. <\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Please join us in welcoming Vodafone to the Enterprise family.<\/strong> The nation\u2019s leading mobile network operator is the new sponsor of What We\u2019re Tracking Today, this very section. We think of What We\u2019re Tracking Today and tl;dr as together making up our equivalent of the \u201cfront page\u201d of an old-school print newspaper, with a twist. <\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>What We\u2019re Tracking Today is where we look ahead.<\/strong> Sure, it gives you the inside track on the big stories of the day \u2014 but it\u2019s also where we talk about trends and where we\u2019re heading as a community. About big issues and the ideas that are shaping our businesses, our communities, and our lives. From innovation, financial inclusion, and regulation, to women in the workplace, the future of capitalism, and our ties to the wider world, What We\u2019re Tracking Today is the section where it all happens.<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>We can think of no better partner for WWTT than Vodafone: <\/strong>We both value innovation. Reliability. Keeping our promises to the people we work with \u2014 and the people we serve. We\u2019re delighted that Vodafone also values meaningful, independent reporting. That\u2019s why they\u2019re supporting us, and it\u2019s why they (like our other valued advertising partners) have no control over our editorial. <\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>A long-term friendship: <\/strong>We\u2019ve known the folks at Vodafone for longer than is polite to say in public \u2014 and we\u2019ve seen first-hand for more than 20 years now how Big Red means business. Vodafone is looking forward to engaging with our audience of decision-makers, business owners, and senior execs in the months to come, and we\u2019re delighted to have them. <\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>It is thanks to Vodafone and all of our other advertising partners that EnterpriseAM is <\/strong><strong>available to you without charge. <\/strong>Please join us this morning in thanking not just Vodafone, but all of our advertisers, including:<\/p><ul>\n<li>HSBC Egypt<\/li>\n<li>EFG Holding<\/li>\n<li>SODIC<\/li>\n<li>Infinity<\/li>\n<li>Somabay<\/li>\n<li>Grant Thornton \u2014 Saleh, Barsoum &amp; Abdel Aziz<\/li>\n<\/ul><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>As well as our weekly section sponsors: <\/strong><strong>CIRA <\/strong><strong>Education <\/strong>(Blackboard), <strong>Orascom <\/strong><strong>Construction<\/strong>(Hardhat), and <strong>Infinity<\/strong> (Going Green).<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>And thank you, wonderful people, for starting your day with Enterprise. <\/strong>Writing to you each day is the highlight of our professional careers.<\/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>THE BIG STORY HERE AT HOME is <\/strong><strong>not<\/strong><strong> a EUR 9 bn assistance package from the European Union. <\/strong>European Commission chief Ursula von der Leyen was in Egypt over the weekend and met with President Abdel Fattah El Sisi, but did not announce the investment-heavy package Bloomberg\u2019s Brussels bureau suggested could be on the agenda. <\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Prime Minister Moustafa Madbouly is talking up an end to the FX crunch<\/strong>, as we note in this morning\u2019s Manufacturing Watch, below. His remarks drew questions from nighttime talk show queen Lamees El Hadidi, who remains handily the smartest biz-econ commentator on the airwaves. <\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\">^^ We have more on both stories below. <\/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\"> <a id=\"wwtt5\"><\/a> <strong>Silicon Valley is on fire after what has been described as a \u201ccoup\u201d at high-flying startup <\/strong><strong>OpenAI<\/strong>, where the board of directors fired co-founder and CEO Sam Altman, saying he was \u201cnot consistently candid in his communications with the board.\u201d The board also removed chairman and co-founder Greg Brockman, saying he would stay as president. Brockman later quit, as did a handful of top staff. <\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Altman was fired via Google Meet<\/strong>, and Microsoft CEO Satya Nadella \u2014 OpenAI\u2019s primary business partner and financial backer \u2014 got exactly one minute of advance notice before Altman\u2019s ouster was announced. <\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Top investors including Microsoft and Thrive Capital are angling to bring Altman back<\/strong>, with the <a target=\"_blank\" href=\"https:\/\/www.wsj.com\/tech\/openai-trying-to-get-sam-altman-back-4b728049\" style=\"\" rel=\"noopener\">Wall Street Journal<\/a> reporting at dispatch time this morning that he was \u201cconsidering\u201d the idea, weighing it against starting a new venture with other staff who followed him out the door. Thanks to his time running Y Combinator, Altman is one of the best-known figures in Silicon Valley and would not face much in the way of obstacles to raising funds for a new startup after taking OpenAI from zero to a valuation that the company thinks is <a target=\"_blank\" href=\"https:\/\/www.wsj.com\/tech\/ai\/openai-seeks-new-valuation-of-up-to-90-billion-in-sale-of-existing-shares-ed6229e0\" style=\"\" rel=\"noopener\">in the USD 90 bn range<\/a>.<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Altman wasn\u2019t ousted for \u201cmalfeasance<\/strong> or anything related to our financial, business, safety, or security\/privacy practices\u201d but was ousted on the back of a \u201cbreakdown in communications between Sam Altman and the board,\u201d according to an internal memo, <a target=\"_blank\" href=\"https:\/\/www.axios.com\/2023\/11\/18\/openai-memo-altman-firing-malfeasance-communications-breakdown\" style=\"\" rel=\"noopener\">Axios<\/a> reports.<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>So why did he exit stage left? <\/strong>Altman clashed with OpenAI\u2019s co-founder and chief scientist Ilya Sutskever and others over the pace of developing generative AI and steps to mitigate potential harm. <\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The global business press is describing Altman\u2019s firing as \u201cthe story of 2023.\u201d <\/strong>See reporting from <a target=\"_blank\" href=\"https:\/\/www.bloomberg.com\/news\/newsletters\/2023-11-18\/sam-altman-s-openai-exit-reorders-silicon-valley-s-power-dynamics\" style=\"\" rel=\"noopener\">Bloomberg<\/a> | <a target=\"_blank\" href=\"https:\/\/www.reuters.com\/technology\/ousting-ceo-sam-altman-chatgpt-loses-its-best-fundraiser-2023-11-18\/\" style=\"\" rel=\"noopener\">Reuters<\/a> | <a target=\"_blank\" href=\"https:\/\/apnews.com\/article\/altman-ai-chatgpt-murati-893e4a460c10eb3a8f1afefa6156eca3\" style=\"\" rel=\"noopener\">Associated Press<\/a> | <a target=\"_blank\" href=\"https:\/\/www.ft.com\/content\/164977f0-fb77-4f85-94c6-ff29bd3c19cf\" style=\"\" rel=\"noopener\">Financial Times<\/a> | <a target=\"_blank\" href=\"https:\/\/www.wsj.com\/tech\/sam-altman-departs-open-ai-mira-murati-interim-ceo-41f6d51e\" style=\"\" rel=\"noopener\">Wall Street Journal<\/a>. <\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Want to listen instead? Everyone and her brother was out with an \u201cemergency pod\u201d this <\/strong><strong>weekend<\/strong>, including <a target=\"_blank\" href=\"https:\/\/podcasts.apple.com\/us\/podcast\/emergency-episode-sam-altman-out-at-openai-and-xs\/\" style=\"\" rel=\"noopener\">Kara Swisher<\/a>, <a target=\"_blank\" href=\"https:\/\/podcasts.apple.com\/us\/podcast\/breaking-sam-altman-fired-from-openai-chaos-ensues-e1851\/\" style=\"\" rel=\"noopener\">Jason Calacanis<\/a>, and <a target=\"_blank\" href=\"https:\/\/www.nytimes.com\/2023\/11\/18\/podcasts\/hard-fork-sam-altman.html\" style=\"\" rel=\"noopener\">Casey Newton<\/a>. <\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>ALSO- Elon isn\u2019t having a great day. <\/strong>The tech oligarch <strong>is losing advertisers from Apple <\/strong><strong>and IBM to Hollywood studios after <\/strong>endorsing an antisemitic conspiracy theory on his social media platform X. The White House accused him of an \"abhorrent promotion of antisemitic and racist hate\" and big names including Disney, Warner Bros, and Comcast pulled their adverts.<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\">(<a target=\"_blank\" href=\"https:\/\/www.reuters.com\/world\/white-house-condemns-musk-spreading-hideous-antisemitic-lies-2023-11-17\/\" style=\"\" rel=\"noopener\">Reuters<\/a> | <a target=\"_blank\" href=\"https:\/\/www.ft.com\/content\/647b4c4d-f4d5-46cd-bc26-8c943b6995e7\" style=\"\" rel=\"noopener\">Financial Times<\/a> | <a target=\"_blank\" href=\"https:\/\/www.bloomberg.com\/news\/articles\/2023-11-17\/white-house-hits-musk-s-abhorrent-endorsement-of-antisemitism\" style=\"\" rel=\"noopener\">Bloomberg<\/a> | <a target=\"_blank\" href=\"https:\/\/apnews.com\/article\/elon-musk-x-antisemitism-twitter-ads-83e68f03e9bf1d261c1a8c55066c4e59\" style=\"\" rel=\"noopener\">Associated Press<\/a> | <a target=\"_blank\" href=\"https:\/\/www.wsj.com\/tech\/elon-musk-antisemitism-social-media-fc5ec321\" style=\"\" rel=\"noopener\">Wall Street Journal<\/a>)<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>HAPPENING TODAY-<\/strong><\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><a id=\"wwtt1\"><\/a> <strong>Sameh Shoukry is touring capitals of a \u201cnumber\u201d of P5 members of the UN Security <\/strong><strong>Council<\/strong>, joining a group of Arab and Muslim foreign ministers who hope to ramp up pressure for Israel to agree to a ceasefire in its war in Gaza. The tour kicks off today, according to a <a target=\"_blank\" href=\"https:\/\/tinyurl.com\/2bwn97v8\" style=\"\" rel=\"noopener\">Foreign Ministry statement<\/a>. It\u2019s not clear where Shoukry will touch down first. <\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>AND- Taking stock of <\/strong><strong>NWFE, the state-led infrastructure program, one year on: <\/strong>A roundtable today will review progress on the <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/e40eaa44-2bb4-49a3-9336-af3df3a4d395\" style=\"\" rel=\"noopener\">USD 15 bn<\/a> Nexus of Water, Food and Energy (NWFE) initiative, according to <a target=\"_blank\" href=\"https:\/\/ent.news\/2023\/11\/969.pdf\" style=\"\" rel=\"noopener\">a<\/a><a target=\"_blank\" href=\"https:\/\/ent.news\/2023\/11\/969.pdf\" style=\"\" rel=\"noopener\">statement<\/a><a target=\"_blank\" href=\"https:\/\/ent.news\/2023\/11\/969.pdf\" style=\"\" rel=\"noopener\">(pdf)<\/a>. The International Cooperation Ministry will meet with Prime Minister Moustafa Madbouly and representatives of the EBRD, the US government, and other development finance partners to take stock of where the program stands.<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><a id=\"wwtt2\"><\/a> <strong>ALSO- <\/strong><strong><a target=\"_blank\" href=\"https:\/\/cairoict.com\/\" style=\"\" rel=\"noopener\">Cairo ICT<\/a><\/strong><strong> kicks off today <\/strong>at the Egypt International Exhibition Center. The tech industry gathering ends on Wednesday. <\/p><hr style=\"height:2px;border-width:0;color:gray;background-color:gray\"><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><a id=\"wwtt4\"><\/a> <strong>PSA- Get your raincoats at the ready. <\/strong>There\u2019s a chance of rain with the possibility of thunderstorms across most governorates today and tomorrow as the mercury drops 2-3\u00b0C, the Egyptian Meteorological Authority warned in a <a target=\"_blank\" href=\"https:\/\/tinyurl.com\/56urr6xj\" style=\"\" rel=\"noopener\">statement<\/a> yesterday. <\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Expect high winds with gusts of nearly 60 km\/h this afternoon <\/strong>with scattered showers throughout the day today, according to our favorite weather app. <\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>IN THE HOUSE-<\/strong><\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><a id=\"wwtt3\"><\/a> <strong>The House is back in session after a one-week break.<\/strong> MPs will sit today and tomorrow.<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Building reconciliation bill on the agenda today and tomorrow:<\/strong> MPs will discuss and vote on an updated government bill that will make it easier for owners of illegal buildings to legalize their status in return for paying reconciliation fees. The long-awaited bill, approved by a joint parliamentary committee last Thursday, will replace a 2019 law that has proved problematic for citizens wishing to reconcile their construction violations with state authorities.<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Also:<\/strong> A number of committees will hold sessions including the House industrial, SMEs and health committees.<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>HAPPENING TOMORROW-<\/strong><\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Expect lots of investment news when a Saudi business delegation <\/strong><strong>arrives tomorrow:<\/strong> Egyptian and Saudi companies could sign investment agreements worth up to USD 1.5 bn when a delegation led by Saudi Trade Minister Majid bin Abdullah Al Qasabi arrives in Egypt tomorrow for the Saudi-Egyptian Business Council. The agreements will cover a range of sectors including energy, real estate, agriculture, and tourism, council member Turki Alhokair said in a statement. <\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>HAPPENING THIS WEEK-<\/strong> The <strong><a target=\"_blank\" href=\"https:\/\/gcc-egyptbf.com\/en\/forum\/forum-program-1\" style=\"\" rel=\"noopener\">Egy-GCC Business Forum<\/a><\/strong> opens on Wednesday \u2014 which is also the deadline to apply with the Financial Regulatory Authority for a license to run a <strong>credit rating agency<\/strong>.<\/p><div class=\"row\">\n<div class=\"col-md-12 subscribe-box-panel\">\n<div class=\"\">\n<div class=\"title\">\n<h4 class=\"fw-lighter mb-10\">\n   Get <b style=\"font-weight: 700\">Enterprise<\/b> daily<br>\n  <\/h4>\n<\/div>\n<p class=\"mb-10\">The roundup of news and trends that move your markets and shape corporate agendas delivered straight to your inbox.<\/p>\n<p>  <a target=\"_blank\" href=\"egypt\/en\/user\/NewsLetters\" type=\"button \" class=\"btn-green px-3 d-flex align-items-center\" rel=\"noopener\">Subscribe here<\/a>\n <\/p><\/div>\n<\/div>\n<\/div><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>MARKET WATCH-<\/strong><\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong> OPEC+ is mulling a deeper production cut to support prices:<\/strong> The oil cartel is reportedly considering whether further oil production cuts are needed when it meets later this month, <a target=\"_blank\" href=\"https:\/\/www.reuters.com\/business\/energy\/opec-consider-whether-more-oil-cuts-needed-sources-2023-11-17\/\" style=\"\" rel=\"noopener\">Reuters<\/a> writes. Oil is down almost 20% since September despite price cuts, Some cartel members are worried that demand will weaken further. KSA and Russia <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/39dc4a75-8ed5-46ed-a296-30a40cf2f166\" style=\"\" rel=\"noopener\">decided earlier this month<\/a> to leave their production cap in place. <\/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\/ai\/\">AI<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/openai\/\">OpenAI<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/sam-altman\/\">Sam Altman<\/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=\"610308 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=\"610308\">\r\n            \r\n            <div class=\"story__body\">\r\n\r\n                <a href=\"https:\/\/enterpriseam.com\/egypt\/2023\/11\/19\/610308\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-610308\" class=\"content-area-description single-story post-610308 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:\/\/somabay.com\/\" target=\"_blank\" rel=\"noopener\"><img data-recalc-dims=\"1\" decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/ads\/imgs\/125.jpg?ssl=1\"><\/a><\/span><\/p>\n<div class=\"grouped-tags\">\n<p><span style=\"font-weight:700\">DISCOVER SOMABAY: <\/span><span>Embark on a journey of discovery in the heart of Somabay, where crystal-clear waters meet golden sands and luxury meets serenity. Experience a world of adventure, relaxation, and natural beauty like no other. From thrilling water sports to world-class golf, Somabay offers it all. Explore vibrant coral reefs, unwind in luxurious spas and savor exquisite cuisine. Your dream destination awaits, where every moment is a discovery.<\/span><\/p>\n<\/div>\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"610309\" 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=\"610309\">\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\">Privatization<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2023\/11\/19\/egypt-sells-30-stake-in-eastern-company-for-usd-625-mn\/\">\r\n                            Egypt sells 30% stake in Eastern Company for USD 625 mn                        <\/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\/19\/egypt-sells-30-stake-in-eastern-company-for-usd-625-mn\/\" 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\/19\/egypt-sells-30-stake-in-eastern-company-for-usd-625-mn\/')\">\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\/19\/egypt-sells-30-stake-in-eastern-company-for-usd-625-mn\/\">\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=Egypt sells 30% stake in Eastern Company for USD 625 mn&url=https:\/\/enterpriseam.com\/egypt\/2023\/11\/19\/egypt-sells-30-stake-in-eastern-company-for-usd-625-mn\/\">\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\/19\/egypt-sells-30-stake-in-eastern-company-for-usd-625-mn\/&title=Egypt sells 30% stake in Eastern Company for USD 625 mn\">\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=Egypt+sells+30%25+stake+in+Eastern+Company+for+USD+625+mn+https%3A%2F%2Fenterpriseam.com%2Fegypt%2F2023%2F11%2F19%2Fegypt-sells-30-stake-in-eastern-company-for-usd-625-mn%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\/19\/egypt-sells-30-stake-in-eastern-company-for-usd-625-mn\/\">\r\n                    <div class=\"photo photo--above\">\r\n                        <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2023\/11\/971.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"610310\" data-permalink=\"https:\/\/enterpriseam.com\/egypt\/2023\/11\/19\/egypt-sells-30-stake-in-eastern-company-for-usd-625-mn\/971-jpg-7\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2023\/11\/971.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"971.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2023\/11\/971.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2023\/11\/971.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-610309\" class=\"content-area-description single-story post-610309 post type-post status-publish format-standard has-post-thumbnail hentry category-privatization-watch tag-eastern-company tag-enterpriseam tag-privatization-watch tag-state-privatization-program 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\/.eeffd849-3b85-4f5b-ba21-0d7eed9e4a42.mp3\"><\/audio><\/figure>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"> <strong>It\u2019s a wrap on the Eastern stake sale:<\/strong> The Madbouly government has completed the sale of a 30% stake in state-owned tobacco manufacturer Eastern Company for USD 625 mn, making it the single-largest transaction since it rebooted its privatization strategy earlier this year. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>New Emirati shareholders:<\/strong> The UAE-based Global Investment Holding (GIH) purchased 669 mn shares from the company\u2019s state-owned majority shareholder for EGP 24.52 apiece, totaling EGP 16.4 bn (USD 532 mn), the Public Enterprises Ministry said in <a target=\"_blank\" href=\"https:\/\/ent.news\/2023\/11\/941.pdf\" style=\"\" rel=\"noopener\">a statement (pdf)<\/a> Thursday. The transaction will make GIH the company\u2019s single-largest shareholder.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>A top-up: <\/strong>GIH agreed to pay an additional EGP 4.38 per share, taking the total value of the transaction to EGP 19.3 bn (USD 625 mn), according to the statement. The ministry did not disclose which state coffer will be the ultimate beneficiary of the funds.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>GIH bought the shares in USD and settled the transaction the <\/strong><strong>day before it closed.<\/strong> The money will be transferred from abroad under the agreement.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\">USD > EGP: The state offering program is a key part of the government\u2019s strategy to bring an end to the 18+ month FX shortage. The government has so far had mixed results in selling assets for hard currency, with stake sales to <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/dff2db56-5a9e-4579-ae83-7f347fadb67c\" style=\"\" rel=\"noopener\">ADQ<\/a> recently bringing in USD 800 mn but sales of shares in both <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/1e4c4fcd-97f0-4e30-b9c3-d7ca9c0a66d6\" style=\"\" rel=\"noopener\">Telecom Egypt<\/a> and <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/7ace4d4a-08f1-4f2e-bc12-15379d392de7\" style=\"\" rel=\"noopener\">Al Ezz Dekheila<\/a> shares being done primarily in EGP. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The state no longer has a controlling interest in the firm: <\/strong>State-owned Chemical Industries Holding Company\u2019s (CIHC), the former majority shareholder of Eastern, sold the entire 30% stake, reducing its ownership to 20.95%. The Allan Gray Africa ex-SA equity fund owns another 7.21% stake in the company while the labor union holds a 5.2% share. The remaining shares are in freefloat.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Market reax:<\/strong> Eastern Company shares rose 0.9% to close at EGP 27.95 on Thursday.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Remember:<\/strong> The government <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/2faf2678-e1de-4680-a046-b73c3abab8df\" style=\"\" rel=\"noopener\">announced in September<\/a> that the Emirati firm had agreed to purchase the stake for USD 625 mn in addition to a USD 150 mn investment to help it overcome the economic headwinds and purchase manufacturing inputs.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Eastern could be facing an antitrust probe:<\/strong>Tobacco distributors JTI-Nakhla and Al Mansour International Distribution Company last week <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/a10ebd21-5cfa-496b-a2ba-6fa13d186cbf\" style=\"\" rel=\"noopener\">filed a complaint<\/a> with the Egyptian Competition Authority (ECA) accusing Eastern and GIH of engaging in monopolistic practices. The ECA has yet to publicly say it has received the complaint and has not confirmed it is starting an investigation.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>What\u2019s next for the privatization program:<\/strong> Cabinet is expecting to finalize agreements to sell a significant stake in its <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/5eebc811-7a6e-4798-ad07-f7d9fc6192ea\" style=\"\" rel=\"noopener\">hotels holding company<\/a> and military-owned fuel retailer <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/7bfd11c3-82ee-4e5c-9f6d-f7695ae1ef03\" style=\"\" rel=\"noopener\">Wataniya<\/a>.<\/p>\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/eastern-company\/\">Eastern Company<\/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                    <\/div>\n    <\/div>\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"610311\" 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=\"610311\">\r\n            \r\n                <div class=\"issue-story-header text-center\">\r\n                    <div class=\"index-number\">3<\/div>\r\n\r\n                    <p class=\"f-graphik\">Economy<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2023\/11\/19\/imf-could-bump-up-our-usd-3-bn-loan-on-back-of-gaza-war\/\">\r\n                            IMF \u201cseriously considering\u201d increasing Egypt\u2019s loan, says Georgieva                        <\/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\/19\/imf-could-bump-up-our-usd-3-bn-loan-on-back-of-gaza-war\/\" target=\"_blank\">\n                    Open in new tab                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/new-tab.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a href=\"#\" target=\"_blank\" onclick=\"event.preventDefault(); 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She did not provide further details of any potential changes to the program.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Georgieva thinks we\u2019re looking at a difficult path ahead because of the Gaza war: <\/strong>\u201cInvestors are going to be shy to go to [these countries]. The cost of ins., if you want to move goods, they go up. Risks of even more refugees in countries that are already accepting more,\u201d the IMF chief <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/fd513719-823a-44d0-ac15-bdf4160cae0f\" style=\"\" rel=\"noopener\">said last month<\/a>.<strong><\/p>\n<p><\/strong><strong>The government is reportedly looking for another USD 2 bn:<\/strong> Egypt is in talks with the IMF to increase its loan program to more than USD 5 bn, according to <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/cd3e36a4-25a3-4129-9e86-f88ce45ca113\" style=\"\" rel=\"noopener\">unconfirmed media reports<\/a> in October. The fund will need to sign off on the first two reviews of the program before any announcement is made topping up the loan, the sources added.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>But an increase might mean more strings attached: <\/strong>Economist Hany Geneina <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/c4c99b98-6ac1-44ac-92fc-525f702f20e4\" style=\"\" rel=\"noopener\">told us last<\/a><a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/c4c99b98-6ac1-44ac-92fc-525f702f20e4\" style=\"\" rel=\"noopener\">month<\/a> that the Fund could increase the loan in return for a commitment to undertaking reforms early in 2024, including the currency float and a lifting of energy subsidies. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Remember:<\/strong> The IMF postponed reviews scheduled for March and September after authorities failed to meet several conditions of the facility, including a commitment to implement a fully flexible exchange rate. However, Georgieva <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/d46ba8bf-1e15-4d11-810a-d9e5721aeed6\" style=\"\" rel=\"noopener\">said<\/a> last month that \u201cEgypt has made good progress on a number of fronts,\u201d but warned that the country will continue to <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/34d82cce-f4dd-436a-b2d7-ef783c0903de\" style=\"\" rel=\"noopener\">\u201cbleed\u201d reserves<\/a> if the currency is not devalued.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>ICYMI- The EU is also putting together a financial aid package because of the war on<\/strong><strong> Gaza: <\/strong>The EU is reportedly putting together an assistance package that could see nearly <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/9e025525-f961-4982-baca-d63fd8de7b85\" style=\"\" rel=\"noopener\">USD 10 bn<\/a> invested in Egypt and European creditors offer some form of debt relief. The bloc\u2019s new initiative is driven by worries that a faltering Egyptian economy coupled with refugee flows from Israel\u2019s brutal war on Gaza would mean an uptick in cross-Mediterranean migration.<\/p>\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/economy\/\">economy<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/finance-ministry\/\">Finance Ministry<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/imf\/\">IMF<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/israel-palestine-conflict\/\">Israel-Palestine conflict<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/kristalina-georgieva\/\">Kristalina Georgieva<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/mohamed-maait\/\">Mohamed Maait<\/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=\"610313\" 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=\"610313\">\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\">Automotive<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2023\/11\/19\/global-auto-group-signs-binding-framework-agreement-to-locally-assemble-cars\/\">\r\n                            Global Auto Group sign binding framework agreement to assemble cars in Egypt                        <\/a>\r\n                    <\/h3>\r\n\r\n                    \r\n\t\t\t\t\t\n<div class=\"cta\">\n    <div class=\"cta__btn share-dropdown-cta dropdown-toggle-btn\" style=\"position:relative\">\n        <img decoding=\"async\" src=\"https:\/\/ent.news\/internal\/408834.svg\" alt=\"\">\n        Share Story\n        <!-- Dropdown Menu -->\n        <ul class=\"share-menu\">\n            <li class=\"list-inline-item\">\n                <a href=\"https:\/\/enterpriseam.com\/egypt\/2023\/11\/19\/global-auto-group-signs-binding-framework-agreement-to-locally-assemble-cars\/\" 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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No further details confirming the car brand or the location, size, and cost of the project were provided. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>This isn\u2019t Global Auto Group\u2019s first auto-assembly rodeo: <\/strong>After <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/feba3115-5fdb-4cdf-bf31-aa0284dd48b0\" style=\"\" rel=\"noopener\">acquiring<\/a> the rights to be BMW Group\u2019s official importer and assembler Egypt in November 2022, Global Auto Group <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/0037f212-748b-4ed8-bf4e-c261b8d8dc25\" style=\"\" rel=\"noopener\">restarted<\/a> the local assembly of BMWs after an almost five-year hiatus in January 2023. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Bigger, greener, and for export? <\/strong>Although the cabinet statement was slim on details, Prime Minister Madbouly made reference to the agreement in light of the Finance Ministry\u2019s Environmentally Friendly Automotive Industry Fund (EFAIF). Global Auto has also shown an interest in electric cars by <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/947809e6-17d4-440a-aea1-3c60de7c3753\" style=\"\" rel=\"noopener\">signing<\/a> a strategic partnership with Infinity to charge electric BMWs at their charging stations. The company has also repeatedly made it clear its aims since acquiring the local rights to BMW to expand production and eventually begin exporting to other countries.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Who\u2019s behind Global Auto Group?<\/strong> Global Auto is a joint venture between Kuwait\u2019s Ali Alghanim & Sons Automotive, Saudi Arabia\u2019s Mohamed Yousuf Naghi Motors, and local firms Organi Group and Al Safi Group. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>ICYMI- We\u2019re getting serious about our local auto industry: <\/strong>As part of the recently relaunched <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/0a06d4ec-4025-490e-8842-45c8a9fe0d8a\" style=\"\" rel=\"noopener\">Egyptian Automotive Industry Development Program (AIDP)<\/a> to localize the automotive industry and its feeder industries, the Madbouly government is <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/601334bb-70b3-47ce-b5cb-765875e6f635\" style=\"\" rel=\"noopener\">exploring<\/a> the creation of a new auto industrial zone. Recent government incentives for the industry and efforts to drum up investment have led to foreign companies <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/e3d2bc93-220d-4c86-b056-063bdc56d944\" style=\"\" rel=\"noopener\">eyeing up<\/a> new auto plants, local companies planning to <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/f46bde1c-c224-4074-b40a-c29e1224ea8a\" style=\"\" rel=\"noopener\">expand<\/a> their operations, and Egyptian companies <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/8f0411ed-169b-48d2-8383-b7046bc5f929\" style=\"\" rel=\"noopener\">teaming up<\/a> to assemble foreign car brands locally.<\/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\/bmw\/\">BMW<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/gafi\/\">GAFI<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/global-auto-group\/\">Global Auto Group<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/manufacturing\/\">Manufacturing<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                    <\/div>\n    <\/div>\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"610315\" 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                            \"\r\n            id=\"610315\">\r\n            \r\n            <div class=\"story__body\">\r\n\r\n                <a href=\"https:\/\/enterpriseam.com\/egypt\/2023\/11\/19\/cib-to-borrow-usd-150-mn-from-ebrd\/\">\r\n                    <div class=\"photo photo--above\">\r\n                        <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2023\/11\/943.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"610316\" data-permalink=\"https:\/\/enterpriseam.com\/egypt\/2023\/11\/19\/cib-to-borrow-usd-150-mn-from-ebrd\/943-jpg-8\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2023\/11\/943.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"943.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2023\/11\/943.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2023\/11\/943.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-610315\" class=\"content-area-description single-story post-610315 post type-post status-publish format-standard has-post-thumbnail hentry category-uncategorized tag-banking tag-cib tag-debt-watch tag-development-finance tag-ebrd tag-enterpriseam 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\/.8f16a4e3-61de-41d3-83f8-3a572ddc453c.mp3\"><\/audio><\/figure>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"> <strong>CIB lands EBRD loan: <\/strong>EGX-listed CIB, the nation\u2019s leading private-sector bank, is getting a USD 150 mn subordinated loan from the European Bank for Reconstruction and Development (EBRD) to strengthen its tier II capital, support growth, and protect it from external economic shocks, according to the lender\u2019s <a target=\"_blank\" href=\"https:\/\/www.ebrd.com\/news\/2023\/ebrd-provides-us150-million-to-egypts-cib.html\" style=\"\" rel=\"noopener\">website<\/a>. The exact terms of the loan were not disclosed.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>What they said: <\/strong>\u201cThis subordinated loan will not only help CIB further boost its capital base but also support our ambitious growth plans and unlock numerous opportunities the Egyptian market has to offer,\u201d CIB Chairman Hisham Ezz El Arab said.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>ICYMI- CIB has been hit by a raft of sovereign credit downgrades:<\/strong><a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/1b0199c7-5775-402a-9f67-fe5607bd9095\" style=\"\" rel=\"noopener\">Moody\u2019s<\/a>, <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/dd9ed4ef-7d60-4ee9-8b07-2e60a9069057\" style=\"\" rel=\"noopener\">S&amp;P<\/a>, and <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/04e2ed79-61e4-47bf-b066-37b85ef38093\" style=\"\" rel=\"noopener\">Fitch<\/a> have all downgraded the bank\u2019s credit ratings deeper into junk territory over the past month due to its exposure to government debt.<\/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\/banking\/\">banking<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/cib\/\">CIB<\/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\/ebrd\/\">EBRD<\/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=\"610317\" 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=\"610317\">\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\">Investment Watch<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2023\/11\/19\/japans-mitsui-invests-in-wadi-poultry-pif-ups-stake-in-e-finance\/\">\r\n                            Japan\u2019s Mitsui invests in Wadi Poultry + PIF ups stake in e-Finance                        <\/a>\r\n                    <\/h3>\r\n\r\n                    \r\n\t\t\t\t\t\n<div class=\"cta\">\n    <div class=\"cta__btn share-dropdown-cta dropdown-toggle-btn\" style=\"position:relative\">\n        <img decoding=\"async\" src=\"https:\/\/ent.news\/internal\/408834.svg\" alt=\"\">\n        Share Story\n        <!-- Dropdown Menu -->\n        <ul class=\"share-menu\">\n            <li class=\"list-inline-item\">\n                <a href=\"https:\/\/enterpriseam.com\/egypt\/2023\/11\/19\/japans-mitsui-invests-in-wadi-poultry-pif-ups-stake-in-e-finance\/\" target=\"_blank\">\n                    Open in new tab                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/new-tab.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a href=\"#\" target=\"_blank\" onclick=\"event.preventDefault(); navigator.clipboard.writeText('https:\/\/enterpriseam.com\/egypt\/2023\/11\/19\/japans-mitsui-invests-in-wadi-poultry-pif-ups-stake-in-e-finance\/')\">\n                    Copy Link                <\/a>\n\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a target=\"_blank\" href=\"https:\/\/www.facebook.com\/sharer.php?u=https:\/\/enterpriseam.com\/egypt\/2023\/11\/19\/japans-mitsui-invests-in-wadi-poultry-pif-ups-stake-in-e-finance\/\">\n                    Facebook                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/facebook-icon2.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a target=\"_blank\" href=\"https:\/\/x.com\/intent\/post?text=Japan\u2019s Mitsui invests in Wadi Poultry + PIF ups stake in e-Finance&url=https:\/\/enterpriseam.com\/egypt\/2023\/11\/19\/japans-mitsui-invests-in-wadi-poultry-pif-ups-stake-in-e-finance\/\">\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\/19\/japans-mitsui-invests-in-wadi-poultry-pif-ups-stake-in-e-finance\/&title=Japan\u2019s Mitsui invests in Wadi Poultry + PIF ups stake in e-Finance\">\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=Japan%E2%80%99s+Mitsui+invests+in+Wadi+Poultry+%2B+PIF+ups+stake+in+e-Finance+https%3A%2F%2Fenterpriseam.com%2Fegypt%2F2023%2F11%2F19%2Fjapans-mitsui-invests-in-wadi-poultry-pif-ups-stake-in-e-finance%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\/19\/japans-mitsui-invests-in-wadi-poultry-pif-ups-stake-in-e-finance\/\">\r\n                    <div class=\"photo photo--above\">\r\n                        <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2023\/11\/952.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"610318\" data-permalink=\"https:\/\/enterpriseam.com\/egypt\/2023\/11\/19\/japans-mitsui-invests-in-wadi-poultry-pif-ups-stake-in-e-finance\/952-jpg-9\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2023\/11\/952.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"952.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2023\/11\/952.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2023\/11\/952.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-610317\" class=\"content-area-description single-story post-610317 post type-post status-publish format-standard has-post-thumbnail hentry category-investment-watch tag-e-finance tag-egypt-saudi-relations tag-enterpriseam tag-fintech tag-food tag-investment-watch tag-ma-watch tag-mitsui tag-public-investment-fund tag-wadi-foods 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\/.eeffd849-3b85-4f5b-ba21-0d7eed9e4a42.mp3\"><\/audio><\/figure>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"> <strong>We have news of two cases of inbound foreign direct investment <\/strong>for you folks this morning. And while it won\u2019t surprise any of you that Saudi wealth fund PIF is taking more of e-Finance, Wadi Poultry\u2019s sale of a stake to Japan\u2019s Mitsui is interesting and took us by surprise. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>#1- Mitsui & Co. gets a slice of Wadi Poultry.<\/strong> The Tokyo-headquartered and -listed company agreed to purchase a stake in Egyptian broiler chicken producer Wadi Poultry, statements from both companies showed on Friday (<a target=\"_blank\" href=\"https:\/\/www.mitsui.com\/jp\/en\/release\/2023\/1247769_13943.html\" style=\"\" rel=\"noopener\">here<\/a> and <a target=\"_blank\" href=\"https:\/\/ent.news\/2023\/11\/948.pdf\" style=\"\" rel=\"noopener\">here, pdf<\/a>). The size of the stake and the investment were not disclosed, though Mitsuit\u2019s release suggests that the buy is big enough that it will hold Wadi as an associate. Mitsui acquired the stake in the Freiji-family-owned company through a UAE-based vehicle. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Wadi is looking to harness the partnership with Mitsui to grow <\/strong>at home and throughout the region. Mitsui has been expanding in north and west Africa since its 2018 acquisition of a business in Morocco. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Wadi Poultry captures the full value chain<\/strong>, from the production of breeding chickens and broilers to processing and distribution. It employs some 2.6k people. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>ADVISORS:<\/strong> Zilla Capital acted as the financial advisor to Wadi Group and Adsero-Ragy Soliman was counsel.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>#2- e-Finance is now a little bit more Saudi:<\/strong> Saudi Arabia\u2019s Public Investment Fund (PIF) has raised its stake in EGX-listed fintech player e-Finance by two percentage points to 27% by purchasing freefloat shares, e-Finance Chairman Ibrahim Sarhan told <a target=\"_blank\" href=\"https:\/\/tinyurl.com\/y5c9b89m\" style=\"\" rel=\"noopener\">Al Arabiya<\/a> in an interview on Thursday. The Saudi Egyptian Investment Company \u2014 the PIF\u2019s investment arm in Egypt \u2014 had <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/1c267f91-82f0-44f9-9d15-b9cca13380d2\" style=\"\" rel=\"noopener\">reportedly<\/a> been looking to increase its ownership of the company to 28%.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>BACKGROUND- <\/strong>The Saudi wealth fund <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/316415e5-ccc3-42ca-b442-80dd3b8b2e16\" style=\"\" rel=\"noopener\">acquired 25% of the company<\/a> last year for EGP 7.5 bn, becoming its single-largest shareholder and getting it two seats on the board. This was part of a wider USD 1.3 bn investment in state-held shares of EGX-listed companies.<\/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\/e-finance\/\">e-finance<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/egypt-saudi-relations\/\">Egypt-Saudi relations<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\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\/food\/\">food<\/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\/ma-watch\/\">M&amp;A Watch<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/mitsui\/\">Mitsui<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/public-investment-fund\/\">Public Investment Fund<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/wadi-foods\/\">Wadi Foods<\/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=\"610319\" 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=\"610319\">\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\">Cabinet watch<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2023\/11\/19\/cabinet-greenlights-bill-to-simplify-property-tenure-regularization-egypt-croatia-agreement-to-eliminate-double-taxation\/\">\r\n                            Cabinet greenlights bill for simpler property tenure regularization + Egypt, Croatia agreement to eliminate double taxation                        <\/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\/19\/cabinet-greenlights-bill-to-simplify-property-tenure-regularization-egypt-croatia-agreement-to-eliminate-double-taxation\/\" 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\" 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regularization + Egypt, Croatia agreement to eliminate double taxation&url=https:\/\/enterpriseam.com\/egypt\/2023\/11\/19\/cabinet-greenlights-bill-to-simplify-property-tenure-regularization-egypt-croatia-agreement-to-eliminate-double-taxation\/\">\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\/19\/cabinet-greenlights-bill-to-simplify-property-tenure-regularization-egypt-croatia-agreement-to-eliminate-double-taxation\/&title=Cabinet greenlights bill to simplify property tenure regularization + Egypt, Croatia agreement to eliminate double taxation\">\n                    LinkedIn                    <!-- <img decoding=\"async\" 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href=\"https:\/\/enterpriseam.com\/egypt\/2023\/11\/19\/cabinet-greenlights-bill-to-simplify-property-tenure-regularization-egypt-croatia-agreement-to-eliminate-double-taxation\/\">\r\n                    <div class=\"photo photo--above\">\r\n                        <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2023\/7\/435.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"610320\" data-permalink=\"https:\/\/enterpriseam.com\/egypt\/2023\/11\/19\/cabinet-greenlights-bill-to-simplify-property-tenure-regularization-egypt-croatia-agreement-to-eliminate-double-taxation\/435-jpg-22\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2023\/7\/435.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"435.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2023\/7\/435.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2023\/7\/435.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-610319\" class=\"content-area-description single-story post-610319 post type-post status-publish format-standard has-post-thumbnail hentry category-cabinet-watch tag-cabinet-watch tag-construction tag-egypt-croatia-relations tag-enterpriseam tag-legislation tag-legislation-watch tag-madbouly-cabinet tag-real-estate wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<figure class=\"wp-block-audio mb-0\"><audio controls preload=\"metadata\" src=\"https:\/\/s3.us-east-1.amazonaws.com\/ent.news\/audio\/2023\/11\/.eeffd849-3b85-4f5b-ba21-0d7eed9e4a42.mp3\"><\/audio><\/figure>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The Madbouly cabinet <\/strong><strong><a target=\"_blank\" href=\"https:\/\/bit.ly\/3sLwchV\" style=\"\" rel=\"noopener\">approved<\/a><\/strong><strong> a draft law that it says will make it easier for building owners to settle<\/strong> with the government if they\u2019ve built on state-owned land. Applicants that have encroached on state land will, if the bill passes, have six months to file to legalize. The registration window could be extended for another six months by a presidential decree.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The bill is on the agenda in the House of Representatives <\/strong>today and tomorrow as MPs reconvene, and Cabinet said it will fast-track the executive regulations to the act, aiming to have them in place within 30 days. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>ALSO APPROVED BY CABINET-<\/strong><\/p>\n<ul>\n<li><strong>No double taxation with Croatia: <\/strong>Cabinet approved an agreement that will make it easier to avoid double taxation on income and capital, crackdown on tax evasion, and facilitate capital flows between the two countries.<\/li>\n<li><strong>New age caps for organ transplants:<\/strong> Amendments to the organ transplant regulations, including a new age limit of 60 years for kidney donors, and 50 years for other organ transplant procedures. Exceptions can be approved by the Health Minister.<\/li>\n<li><strong>Extension for Sinai land rules: <\/strong>A one-year extension to the current applied rules to ownership and usufruct for land tenure holders in Sinai.<\/li>\n<\/ul>\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/cabinet-watch\/\">cabinet watch<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/construction\/\">construction<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/egypt-croatia-relations\/\">Egypt-Croatia relations<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/legislation\/\">legislation<\/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\/madbouly-cabinet\/\">Madbouly Cabinet<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/real-estate\/\">real estate<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                    <\/div>\n    <\/div>\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"610321\" 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=\"610321\">\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\">Manufacturing<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2023\/11\/19\/pm-talks-up-the-end-of-the-fx-crunch-after-tour-of-10-ramadan-obour\/\">\r\n                            Egypt\u2019s PM talks up the end of the FX crunch after tour of 10 Ramadan, Obour                        <\/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\/19\/pm-talks-up-the-end-of-the-fx-crunch-after-tour-of-10-ramadan-obour\/\" 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\/19\/pm-talks-up-the-end-of-the-fx-crunch-after-tour-of-10-ramadan-obour\/')\">\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\/19\/pm-talks-up-the-end-of-the-fx-crunch-after-tour-of-10-ramadan-obour\/\">\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=PM talks up the end of the FX crunch after tour of 10 Ramadan, Obour&url=https:\/\/enterpriseam.com\/egypt\/2023\/11\/19\/pm-talks-up-the-end-of-the-fx-crunch-after-tour-of-10-ramadan-obour\/\">\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\/19\/pm-talks-up-the-end-of-the-fx-crunch-after-tour-of-10-ramadan-obour\/&title=PM talks up the end of the FX crunch after tour of 10 Ramadan, Obour\">\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=PM+talks+up+the+end+of+the+FX+crunch+after+tour+of+10+Ramadan%2C+Obour+https%3A%2F%2Fenterpriseam.com%2Fegypt%2F2023%2F11%2F19%2Fpm-talks-up-the-end-of-the-fx-crunch-after-tour-of-10-ramadan-obour%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\/19\/pm-talks-up-the-end-of-the-fx-crunch-after-tour-of-10-ramadan-obour\/\">\r\n                    <div class=\"photo photo--above\">\r\n                        <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2023\/11\/960.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"610322\" data-permalink=\"https:\/\/enterpriseam.com\/egypt\/2023\/11\/19\/pm-talks-up-the-end-of-the-fx-crunch-after-tour-of-10-ramadan-obour\/960-jpg-6\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2023\/11\/960.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"960.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2023\/11\/960.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2023\/11\/960.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-610321\" class=\"content-area-description single-story post-610321 post type-post status-publish format-standard has-post-thumbnail hentry category-manufacturing tag-beko tag-enterpriseam tag-fdi tag-glc-paints tag-haier tag-insutech tag-investment-watch tag-jamjoom-pharma tag-kcg-textile tag-manufacturing tag-mapei 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\/.eeffd849-3b85-4f5b-ba21-0d7eed9e4a42.mp3\"><\/audio><\/figure>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Talking up FDI: <\/strong>Cabinet made a concerted effort to talk up the state of investment by companies in Obour City and Tenth of Ramadan City. The trigger? A tour by Prime Minister Moustafa Madbouly. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The volume of investment is a sign the FX crunch is \u201cnearing its end,\u201d<\/strong> Madbouly declared yesterday, pointing to the hundreds of mns of USD that have been invested in the factories by foreign investors (<a target=\"_blank\" href=\"https:\/\/www.youtube.com\/watch?v=-278-OVmFvM\" style=\"\" rel=\"noopener\">watch, runtime: 2:03<\/a>). His remarks came after the EGP hit a new low of 50 to the greenback <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/edition\/am\/99e840dc-8376-4698-abbf-ea6b6bf73e12\" style=\"\" rel=\"noopener\">last week<\/a> in the parallel market \u2014 and as futures also sagged to new lows while gold and share prices soared to fresh highs. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\">Here\u2019s what you need to know:<\/p>\n<ul>\n<li><strong>Chinese home appliances manufacturer Haier Egypt<\/strong> has finished the first phase of its <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/358b6591-3db7-4fa1-bb2f-de2e69e31cc8\" style=\"\" rel=\"noopener\">USD 135 mn industrial complex<\/a> in Tenth of Ramadan City, and trial operations are expected to begin by March 2024. The company has agreed to a local content requirement of 60% (rising to 70% in two years), and 30% of production will be exported. (<a target=\"_blank\" href=\"https:\/\/tinyurl.com\/56zy5r2c\" style=\"\" rel=\"noopener\">Statement<\/a>) <\/li>\n<li><strong>Saudi Arabia\u2019s Jamjoom Pharma <\/strong>has kicked off operations atits <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/cbad0805-29bc-4fa2-88f6-6a052c1ec37f\" style=\"\" rel=\"noopener\">EGP 3 bn factory<\/a> in Obour with a production estimate of 120 mn units per year. (<a target=\"_blank\" href=\"https:\/\/tinyurl.com\/yjjpkdec\" style=\"\" rel=\"noopener\">Statement<\/a>)<\/li>\n<li><strong>Turkey\u2019s KCG Textile<\/strong> factory in Tenth of Ramadan has generated annual revenues of USD 65 mn since opening in 2007 through cooperation with brands such as Ikea and Zara. The company has invested USD 75 mn in the project and is looking to build another factory in the SCZone. (<a target=\"_blank\" href=\"https:\/\/tinyurl.com\/yrfk3mve\" style=\"\" rel=\"noopener\">Statement<\/a>) <\/li>\n<li><strong>Italian chemicals manufacturer <\/strong><strong>Mapei<\/strong> has completed the first phase of its USD 25 mn factory in Tenth of Ramadan. The facility will produce 100k tons of chemical products when it opens next year. (<a target=\"_blank\" href=\"https:\/\/tinyurl.com\/477vjj82\" style=\"\" rel=\"noopener\">Statement<\/a>) <\/li>\n<li><strong>Turkey\u2019s <\/strong><strong>Beko<\/strong>will finish the first phase of its <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/67f44b56-1f3e-4131-a5cd-88b97aa666c9\" style=\"\" rel=\"noopener\">USD 100 mn home appliances factory<\/a> in Tenth of Ramadan during 1Q 2024. More than 60% of the factory\u2019s annual output of 1.2 mn devices will be exported. (<a target=\"_blank\" href=\"https:\/\/tinyurl.com\/kvaj4sje\" style=\"\" rel=\"noopener\">Statement<\/a>)<\/li>\n<li><strong>German-Lebanese GLC Paints<\/strong> is looking to invest USD 25 mn into its factory in Obour. The company has so far invested EGP 2.5 bn into the facility, which generates USD 20 mn of export revenues every year. (<a target=\"_blank\" href=\"https:\/\/tinyurl.com\/2vx8y43p\" style=\"\" rel=\"noopener\">Statement<\/a>)<\/li>\n<li><strong>Egypt\u2019s Insutech<\/strong> wants to invest EGP 400 mn into its insulation materials factory in Tenth of Ramadan City to add new production lines. (<a target=\"_blank\" href=\"https:\/\/tinyurl.com\/nhnw5nkm\" style=\"\" rel=\"noopener\">Statement<\/a>) <\/li>\n<\/ul>\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/beko\/\">Beko<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/fdi\/\">FDI<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/glc-paints\/\">GLC Paints<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/haier\/\">Haier<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/insutech\/\">Insutech<\/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\/jamjoom-pharma\/\">Jamjoom Pharma<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/kcg-textile\/\">KCG Textile<\/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\/mapei\/\">Mapei<\/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=\"610323\" 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=\"610323\">\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\">WAR WATCH<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2023\/11\/19\/israel-forces-doctors-patients-out-of-al-shifa-hospital-prepares-to-attack-south-gaza\/\">\r\n                            Israel forces doctors, patients out of Al Shifa hospital, prepares to attack south Gaza                        <\/a>\r\n                    <\/h3>\r\n\r\n                    \r\n\t\t\t\t\t\n<div class=\"cta\">\n    <div class=\"cta__btn share-dropdown-cta dropdown-toggle-btn\" style=\"position:relative\">\n        <img decoding=\"async\" src=\"https:\/\/ent.news\/internal\/408834.svg\" alt=\"\">\n        Share Story\n        <!-- Dropdown Menu -->\n        <ul class=\"share-menu\">\n            <li class=\"list-inline-item\">\n                <a href=\"https:\/\/enterpriseam.com\/egypt\/2023\/11\/19\/israel-forces-doctors-patients-out-of-al-shifa-hospital-prepares-to-attack-south-gaza\/\" target=\"_blank\">\n                    Open in new tab                    <!-- <img decoding=\"async\" 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                 <div class=\"photo photo--above\">\r\n                        <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2023\/11\/950.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"610324\" data-permalink=\"https:\/\/enterpriseam.com\/egypt\/2023\/11\/19\/israel-forces-doctors-patients-out-of-al-shifa-hospital-prepares-to-attack-south-gaza\/950-jpg-5\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2023\/11\/950.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"950.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2023\/11\/950.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2023\/11\/950.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-610323\" class=\"content-area-description single-story post-610323 post type-post status-publish format-standard has-post-thumbnail hentry category-war-watch tag-abdel-fattah-el-sisi tag-antony-blinken tag-diplomacy tag-egypt-eu-relations tag-egypt-us-relations tag-enterpriseam tag-eu tag-israel tag-israel-palestine-conflict tag-middle-east-politics tag-palestine tag-sameh-shoukry tag-ursula-von-der-leyen tag-us tag-war-watch wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<figure class=\"wp-block-audio mb-0\"><audio controls preload=\"metadata\" src=\"https:\/\/s3.us-east-1.amazonaws.com\/ent.news\/audio\/2023\/11\/.eeffd849-3b85-4f5b-ba21-0d7eed9e4a42.mp3\"><\/audio><\/figure>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong> Israeli forces yesterday ordered doctors, patients and refugees to evacuate Gaza City\u2019s <\/strong><strong>Al Shifa Hospital<\/strong>, a medical complex <a target=\"_blank\" href=\"https:\/\/twitter.com\/WHOoPt\/status\/1726014852076904450\" style=\"\" rel=\"noopener\">described by<\/a> a visiting UN \/ World Health Organization team yesterday as a \u201cdeath zone.\u201d Doctors and witnesses reported that the IDF had given the thousands of people still at the hospital an hour to leave the area and escorted some of them out at gunpoint, a charge denied by Israel. One doctor described the scene as \u201chorrible, unprecedented\u201d as wounded people were forced out of the hospital and taunted by Israeli troops. Twenty-five health workers and almost 300 critical patients remain in the hospital, according to the WHO team.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>All for nothing:<\/strong> Israeli forces have laid siege to Al Shifa \u2014 the largest hospital in Gaza \u2014 for more than a week, claiming that the operation was necessary to unearth Hamas\u2019 headquarters which they said was underneath the complex. Four days after it first raided the hospital, the IDF has produced only images of a few guns and a small hole in the ground.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>ON THE GROUND-<\/strong> More than 80 Palestinians <a target=\"_blank\" href=\"https:\/\/www.france24.com\/en\/live-news\/20231118-hundreds-flee-as-israel-orders-gaza-s-main-hospital-evacuated\" style=\"\" rel=\"noopener\">were killed<\/a> yesterday in a double Israeli strike \u2014 including one on a UN school \u2014 on the densely-populated Jabalia refugee camp, an attack <a target=\"_blank\" href=\"https:\/\/tinyurl.com\/3y5kz69b\" style=\"\" rel=\"noopener\">decried by Egypt<\/a> as a war crime and a \u201cdeliberate insult to the UN.\u201d Forty-seven were <a target=\"_blank\" href=\"https:\/\/www.reuters.com\/world\/middle-east\/israel-renews-call-gazans-flee-key-southern-city-2023-11-17\/\" style=\"\" rel=\"noopener\">killed<\/a> by Israeli air strikes carried out on residential blocks in Khan Younis.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Remember:<\/strong> The Gaza Health Ministry is no longer able to provide an accurate death toll due to Israel shutting down almost all of the hospitals in north Gaza. The official death toll surpassed 12k over the weekend \u2014 70% of whom are women and children \u2014 but the actual figure is expected to be far higher, with thousands of people remaining under the rubble and ambulances no longer able to reach the wounded across much of the territory.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Israel is preparing to force Gazans further south: <\/strong>Israeli forces have already displaced 70% of Gaza\u2019s 2.3 mn population, including forcing hundreds of thousands to evacuate the north of the territory south of Wadi Gaza. Now it\u2019s ordering residents in the southern city of Khan Younis \u2014 the second-largest city in Gaza with a population of 400k before the war \u2014 to <a target=\"_blank\" href=\"https:\/\/www.bbc.com\/news\/world-middle-east-67462610\" style=\"\" rel=\"noopener\">leave their homes<\/a> ahead of an expected offensive in the south.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>EU NOT ON BOARD WITH ETHNIC CLEANSING<\/strong><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The EU isn\u2019t on board with forced displacement:<\/strong> EU Commission President Ursula von der Leyen backed Egypt\u2019s rejection of Israeli ambitions to forcibly displace Gazans into the Sinai during talks with President Abdel Fattah El Sisi in Cairo on Saturday. \u201cWe agree on the principle of no forced displacement of Palestinians and a political horizon based on a two-state solution,\u201d she <a target=\"_blank\" href=\"https:\/\/twitter.com\/vonderleyen\/status\/1725831200185450728\" style=\"\" rel=\"noopener\">wrote on X<\/a> following the talks.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>NO NEWS ON INVESTMENT PACKAGE<\/strong><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>No news on rumored EU assistance package:<\/strong> Neither side elaborated on discussions over a rumored major financial assistance package reported by Bloomberg last week. According to the news outlet, the EU <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/9e025525-f961-4982-baca-d63fd8de7b85\" style=\"\" rel=\"noopener\">is planning to<\/a> mobilize almost USD 10 bn in investment for Egypt and provide some form of debt relief to stabilize the economy and prevent a new wave of migration in the wake of the Gaza conflict. The two sides are working on a \u201cstrategic, comprehensive partnership,\u201d von der Leyen <a target=\"_blank\" href=\"https:\/\/twitter.com\/vonderleyen\/status\/1725831625068499151\" style=\"\" rel=\"noopener\">said<\/a>, without providing further details.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Shoukry denies displacement-for-debt-relief pact:<\/strong> Israel and the US have not offered to give Egypt debt relief in return for taking in Palestinian refugees, Foreign Minister Sameh Shoukry <a target=\"_blank\" href=\"https:\/\/www.bloomberg.com\/news\/articles\/2023-11-16\/egypt-denies-debt-relief-was-offered-to-accept-gaza-palestinians\" style=\"\" rel=\"noopener\">told reporters<\/a> on Thursday.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Five countries demand ICC investigation into Israeli war crimes: <\/strong>Five nations have <a target=\"_blank\" href=\"https:\/\/www.icc-cpi.int\/news\/statement-prosecutor-international-criminal-court-karim-aa-khan-kc-situation-state-palestine\" style=\"\" rel=\"noopener\">filed a<\/a><a target=\"_blank\" href=\"https:\/\/www.icc-cpi.int\/news\/statement-prosecutor-international-criminal-court-karim-aa-khan-kc-situation-state-palestine\" style=\"\" rel=\"noopener\">referral<\/a> to the International Criminal Court to investigate the alleged war crimes committed by the Israeli military in Gaza. ICC prosecutor Karim A.A. Khan <a target=\"_blank\" href=\"https:\/\/www.icc-cpi.int\/news\/statement-prosecutor-international-criminal-court-karim-aa-khan-kc-situation-state-palestine\" style=\"\" rel=\"noopener\">confirmed<\/a> receiving the referral on Friday, which was submitted by South Africa, Bangladesh, Bolivia, Comoros, and Djibouti. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>South Africa to cut all ties with Israel:<\/strong> South Africa\u2019s ruling party said on Thursday it will back an opposition motion to close Israel\u2019s embassy and suspend all diplomatic ties until it agrees to a ceasefire, according to <a target=\"_blank\" href=\"https:\/\/www.reuters.com\/world\/africa\/south-africas-anc-backs-motion-close-israeli-embassy-2023-11-16\/\" style=\"\" rel=\"noopener\">Reuters<\/a>.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>ALSO IN DIPLOMACY- <\/strong>El Sisi <a target=\"_blank\" href=\"https:\/\/tinyurl.com\/3th3mb5a\" style=\"\" rel=\"noopener\">spoke to French President<\/a> Emmanuel Macron | <a target=\"_blank\" href=\"https:\/\/tinyurl.com\/43rhtz3k\" style=\"\" rel=\"noopener\">Shoukry<\/a> spoke to <a target=\"_blank\" href=\"https:\/\/www.state.gov\/secretary-blinkens-call-with-foreign-minister-shoukry-of-egypt-3\/\" style=\"\" rel=\"noopener\">US<\/a><a target=\"_blank\" href=\"https:\/\/www.state.gov\/secretary-blinkens-call-with-foreign-minister-shoukry-of-egypt-3\/\" style=\"\" rel=\"noopener\">Secretary of State Antony<\/a><a target=\"_blank\" href=\"https:\/\/www.state.gov\/secretary-blinkens-call-with-foreign-minister-shoukry-of-egypt-3\/\" style=\"\" rel=\"noopener\">Blinken<\/a> and the <a target=\"_blank\" href=\"https:\/\/tinyurl.com\/2653py44\" style=\"\" rel=\"noopener\">head of the UN relief agency for Palestinian refugees<\/a> | Jordan <a target=\"_blank\" href=\"https:\/\/www.almamlakatv.com\/news\/129956\" style=\"\" rel=\"noopener\">cancels<\/a> water-for-energy agreement with Israel | Erdogan says Germany siding with Israel because of holocaust guilt in <a target=\"_blank\" href=\"https:\/\/www.politico.eu\/article\/erdogan-and-scholz-clash-over-israel-hamas-war\/\" style=\"\" rel=\"noopener\">\u201ctense\u201d presser<\/a> with German Chancellor Scholz.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>AID- Israel finally buckles to pressure, will allow small amounts of fuel: <\/strong>Israel has agreed to allow <a target=\"_blank\" href=\"https:\/\/www.reuters.com\/world\/middle-east\/israel-allow-two-fuel-trucks-day-into-gaza-official-says-2023-11-17\/\" style=\"\" rel=\"noopener\">140k liters of fuel<\/a> into Gaza every two days following pressure from the US and UN. This is only <a target=\"_blank\" href=\"https:\/\/apnews.com\/article\/israel-hamas-war-news-11-17-2023-1811384fac6394329dd71e3aaf461eb5\" style=\"\" rel=\"noopener\">half the amount<\/a> required to sustain essential services such as aid deliveries, water systems, hospitals and bakeries. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>More genocidal rhetoric:<\/strong> The decision by the cabinet to allow in fuel didn\u2019t sit well with everyone in the Israeli Knesset, with the deputy speaker becoming the latest Israeli official taking to X to issue a genocidal statement. \u201cWe are too humane. Burn Gaza now no less,\u201d the far-right Likud MP <a target=\"_blank\" href=\"https:\/\/www.timesofisrael.com\/liveblog_entry\/deputy-knesset-speaker-calls-for-burning-gaza\/\" style=\"\" rel=\"noopener\">wrote<\/a>.<\/p>\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/abdel-fattah-el-sisi\/\">Abdel Fattah El Sisi<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/antony-blinken\/\">Antony Blinken<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/diplomacy\/\">DIPLOMACY<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/egypt-eu-relations\/\">Egypt-EU relations<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/egypt-us-relations\/\">Egypt-US relations<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/eu\/\">EU<\/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\/sameh-shoukry\/\">Sameh Shoukry<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/ursula-von-der-leyen\/\">Ursula von der Leyen<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/us\/\">US<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/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=\"610325\" 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=\"610325\">\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\">EARNINGS WATCH<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2023\/11\/19\/integrated-diagnostics-holdings-increases-revenues-40-in-3q-earnings\/\">\r\n                            Integrated Diagnostics Holdings increases revenues 40% in 3Q earnings earnings                        <\/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\/19\/integrated-diagnostics-holdings-increases-revenues-40-in-3q-earnings\/\" 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\/19\/integrated-diagnostics-holdings-increases-revenues-40-in-3q-earnings\/')\">\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\/19\/integrated-diagnostics-holdings-increases-revenues-40-in-3q-earnings\/\">\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=Integrated Diagnostics Holdings increases revenues 40% in 3Q earnings&url=https:\/\/enterpriseam.com\/egypt\/2023\/11\/19\/integrated-diagnostics-holdings-increases-revenues-40-in-3q-earnings\/\">\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\/19\/integrated-diagnostics-holdings-increases-revenues-40-in-3q-earnings\/&title=Integrated Diagnostics Holdings increases revenues 40% in 3Q earnings\">\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=Integrated+Diagnostics+Holdings+increases+revenues+40%25+in+3Q+earnings+https%3A%2F%2Fenterpriseam.com%2Fegypt%2F2023%2F11%2F19%2Fintegrated-diagnostics-holdings-increases-revenues-40-in-3q-earnings%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\/19\/integrated-diagnostics-holdings-increases-revenues-40-in-3q-earnings\/\">\r\n                    <div class=\"photo photo--above\">\r\n                        <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2023\/11\/966.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"610326\" data-permalink=\"https:\/\/enterpriseam.com\/egypt\/2023\/11\/19\/integrated-diagnostics-holdings-increases-revenues-40-in-3q-earnings\/966-jpg-8\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2023\/11\/966.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"966.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2023\/11\/966.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2023\/11\/966.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-610325\" class=\"content-area-description single-story post-610325 post type-post status-publish format-standard has-post-thumbnail hentry category-earnings-watch tag-earnings tag-earnings-watch tag-enterpriseam tag-healthcare tag-integrated-diagnostics-holding 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\/.eeffd849-3b85-4f5b-ba21-0d7eed9e4a42.mp3\"><\/audio><\/figure>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Record test volumes and pickup in footfall fueled strong quarter: <\/strong>Integrated Diagnostics Holdings (IDH) logged EGP 176 mn in net income for 3Q 2023, up from a net loss of EGP 36 mn in the same period last year that was attributable to a one-off expense, according to the company\u2019s <a target=\"_blank\" href=\"https:\/\/ent.news\/2023\/11\/962.pdf\" style=\"\" rel=\"noopener\">e<\/a><a target=\"_blank\" href=\"https:\/\/ent.news\/2023\/11\/962.pdf\" style=\"\" rel=\"noopener\">arnings release (pdf)<\/a>. Consolidated revenues for the quarter were up 40% y-o-y to EGP 1.2 bn, driven by a quarterly record of over over 10 million tests and a pickup in patient footfall mainly in Egypt and Jordan.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Marginal dip in 9M bottom line: <\/strong>IDH\u2019s net income fell 4% y-o-y in the first nine months of 2023 to EGP 387 mn, while revenues increased 9% y-o-y to EGP 3.1 bn on the back of a 16% increase in conventional test volumes and 24% increase in average revenue per test.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>What they said: <\/strong>\u201cWhile our results from the first half of the year were somewhat diluted by increasing inflationary environments, particularly in our home market, Egypt, as well as several seasonal slowdowns due to the holy month of Ramadan and other holidays, the company\u2019s strong performance in the third quarter of the year has significantly outpaced the past two quarters,\u201d IDH\u2019s CEO Hend El Sherbini 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\/earnings\/\">earnings<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/earnings-watch\/\">earnings watch<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/healthcare\/\">healthcare<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/integrated-diagnostics-holding\/\">Integrated Diagnostics Holding<\/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=\"610327\" 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=\"610327\">\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\">Moves<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2023\/11\/19\/the-consumer-protection-agency-has-a-new-chair\/\">\r\n                            Ibrahim El Segeny to head Egypt\u2019s Consumer Protection Agency                        <\/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\/19\/the-consumer-protection-agency-has-a-new-chair\/\" 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\/19\/the-consumer-protection-agency-has-a-new-chair\/')\">\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\/19\/the-consumer-protection-agency-has-a-new-chair\/\">\n                    Facebook                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/facebook-icon2.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a target=\"_blank\" href=\"https:\/\/x.com\/intent\/post?text=The Consumer Protection Agency has a new chair&url=https:\/\/enterpriseam.com\/egypt\/2023\/11\/19\/the-consumer-protection-agency-has-a-new-chair\/\">\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\/19\/the-consumer-protection-agency-has-a-new-chair\/&title=The Consumer Protection Agency has a new chair\">\n                    LinkedIn                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/linkedin-icon.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a href=\"https:\/\/api.whatsapp.com\/send?text=The+Consumer+Protection+Agency+has+a+new+chair+https%3A%2F%2Fenterpriseam.com%2Fegypt%2F2023%2F11%2F19%2Fthe-consumer-protection-agency-has-a-new-chair%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\/19\/the-consumer-protection-agency-has-a-new-chair\/\">\r\n                    <div class=\"photo photo--above\">\r\n                        <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2023\/11\/957.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"610328\" data-permalink=\"https:\/\/enterpriseam.com\/egypt\/2023\/11\/19\/the-consumer-protection-agency-has-a-new-chair\/957-jpg-19\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2023\/11\/957.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"957.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2023\/11\/957.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2023\/11\/957.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-610327\" class=\"content-area-description single-story post-610327 post type-post status-publish format-standard has-post-thumbnail hentry category-moves tag-consumer-protection-authority tag-enterpriseam tag-ibrahim-el-segeny tag-moves 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\/.eeffd849-3b85-4f5b-ba21-0d7eed9e4a42.mp3\"><\/audio><\/figure>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The Consumer Protection Agency is under new leadership:<\/strong> Prime Minister Moustafa Madbouly has appointed <strong>Ibrahim El Segeny<\/strong> to serve as the head of the Consumer Protection Agency for one year, according to <a target=\"_blank\" href=\"https:\/\/bit.ly\/3G78G26\" style=\"\" rel=\"noopener\">a cabinet statement<\/a> yesterday. El Segeny has previously served as the assistant trade minister and <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/b5b149f2-d5c1-48de-b358-672d2df56fd0\" style=\"\" rel=\"noopener\">acted<\/a> as chairman of the Egyptian Competition Authority. <\/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\/consumer-protection-authority\/\">Consumer Protection Authority<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/ibrahim-el-segeny\/\">Ibrahim El Segeny<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/moves\/\">moves<\/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=\"610329 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=\"610329\">\r\n            \r\n            <div class=\"story__body\">\r\n\r\n                <a href=\"https:\/\/enterpriseam.com\/egypt\/2023\/11\/19\/610329\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-610329\" class=\"content-area-description single-story post-610329 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=\"610330\" 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=\"610330\">\r\n            \r\n                <div class=\"issue-story-header text-center\">\r\n                    <div class=\"index-number\">11<\/div>\r\n\r\n                    <p class=\"f-graphik\">LAST NIGHT\u2019S TALK SHOWS<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2023\/11\/19\/madbouly-talks-up-end-of-fx-crisis-but-lamees-has-questions\/\">\r\n                            Madbouly talks up end of FX crisis, but Lamees has questions                        <\/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\/19\/madbouly-talks-up-end-of-fx-crisis-but-lamees-has-questions\/\" 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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He also argued that this crisis has highlighted the need for Egypt to localize production. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Lamees didn\u2019t take it well: <\/strong>\u201cThis is not the first time we hear such comments,\u201d Kelma Akhira\u2019s Lamees El Hadidi told her viewers and urged the the Madbouly government to tell the public how the currency crisis will be handled (<a target=\"_blank\" href=\"https:\/\/www.youtube.com\/watch?v=c9ShaziGNXk\" style=\"\" rel=\"noopener\">watch, runtime: 3:19<\/a>). \u201cWe cannot blame this on the covid-19 pandemic, the Russian-Ukrainian war, or even the war on Gaza. These are problems that came on top of already existing problems like spending priorities and carelessness regarding industry \u2026 We need a more resilient economy,\u201d she added. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Economic reforms are key<\/strong>, according to economist Medhat Nafei (<a target=\"_blank\" href=\"https:\/\/www.youtube.com\/watch?v=3r1uUQgAvyo\" style=\"\" rel=\"noopener\">watch, runtime: 8:10<\/a>) and banking expert Tarek Metwally (<a target=\"_blank\" href=\"https:\/\/www.youtube.com\/watch?v=swF0uYuN36o\" style=\"\" rel=\"noopener\">watch, runtime: 10:06<\/a>). <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Don\u2019t get too excited about a potentially bigger IMF program, says Adib. <\/strong>A larger IMF program increased by USD 2 bn to USD 5 bn will come with extra conditions, a large chunk of which will be difficult to fulfill, El Hekaya\u2019s Amr Adib said in his usual calm and collected way (<a target=\"_blank\" href=\"https:\/\/www.youtube.com\/watch?v=gKLbPBG4LlQ\" style=\"\" rel=\"noopener\">watch, runtime: 3:28<\/a>). Kelma Akhira (<a target=\"_blank\" href=\"https:\/\/www.youtube.com\/watch?v=glwC7U0QswM\" style=\"\" rel=\"noopener\">watch, runtime: 6:38<\/a>) and Masa\u2019a DMC (<a target=\"_blank\" href=\"https:\/\/www.facebook.com\/watch\/?v=891142582529694\" style=\"\" rel=\"noopener\">watch, runtime: 2:52<\/a>) both had the news and we\u2019ve got our own coverage in the news well, above. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Sugar is back in the market: <\/strong>The Supply Ministry has tapped into its reserves to help fill the gap in sugar supply that pushed prices to soar up to EGP 40 per kilo from their usual EGP 27, ministry spokesman Ahmed Kamal told Kelma Akhira (<a target=\"_blank\" href=\"https:\/\/www.youtube.com\/watch?v=atBuxbBQ_QM\" style=\"\" rel=\"noopener\">watch, runtime: 2:22<\/a>).<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>ALSO ON THE AIRWAVES- Yamama continues his media tour: <\/strong>Al Wafd\u2019s presidential candidate Abdel Sanad Yamama was on Ala Maso\u2019uleety (<a target=\"_blank\" href=\"https:\/\/www.youtube.com\/watch?v=QwlKS-KNoBQ\" style=\"\" rel=\"noopener\">watch, runtime: 5:57<\/a> | <a target=\"_blank\" href=\"https:\/\/www.youtube.com\/watch?v=dZnC3GRSA04\" style=\"\" rel=\"noopener\">3:14<\/a> | <a target=\"_blank\" href=\"https:\/\/www.youtube.com\/watch?v=y7dBw79dN7I\" style=\"\" rel=\"noopener\">3:23<\/a>) last night to tell viewers what a Yamana presidency would look like. Yamana pledged to raise the minimum wage to EGP 5k within a year, boost private sector activity, and better manage state assets. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Every vote counts, even from overseas: <\/strong>Emigration Minister Soha Gendy joined Masa\u2019a DMC (<a target=\"_blank\" href=\"https:\/\/www.facebook.com\/watch\/?v=2306637129725395\" style=\"\" rel=\"noopener\">watch,<\/a><a target=\"_blank\" href=\"https:\/\/www.facebook.com\/watch\/?v=2306637129725395\" style=\"\" rel=\"noopener\">runtime: 8:00<\/a>) to push Egyptian expats to vote in the upcoming presidential elections. <\/p>\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/economy\/\">economy<\/a>\n                <!-- 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                        Boycott of Western goods gets coverage in the regional press                        <\/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\/19\/boycott-of-western-goods-gets-coverage-in-the-regional-press\/\" 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\" 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alt=\"\" data-attachment-id=\"610334\" data-permalink=\"https:\/\/enterpriseam.com\/egypt\/2023\/11\/19\/boycott-of-western-goods-gets-coverage-in-the-regional-press\/953-jpg-11\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2023\/11\/953.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"953.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2023\/11\/953.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2023\/11\/953.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-610333\" class=\"content-area-description single-story post-610333 post type-post status-publish format-standard has-post-thumbnail hentry category-egypt-in-the-news tag-enterpriseam tag-israel-palestine-conflict 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\/.eeffd849-3b85-4f5b-ba21-0d7eed9e4a42.mp3\"><\/audio><\/figure>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>This morning in the foreign press: Loc<\/strong><strong>al brands get a boost amid BDS support in <\/strong><strong>Egypt<\/strong>. Local soft drinks are fast replacing brands like Pepsi and Coca-Cola which are believed by some consumers to have voiced support for Israel, amid the snowballing boycott movement in Egypt, <a target=\"_blank\" href=\"https:\/\/www.thenationalnews.com\/weekend\/2023\/11\/17\/egypt-coca-cola-pepsi-boycott-israel-gaza\/\" style=\"\" rel=\"noopener\">the National<\/a> reports. \u201cThere have been many other boycotts of various imported products over the years \u2026 but in my 40 years in the business, I haven\u2019t seen people this committed,\u201d one shopkeeper tells the news outlet.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>ALSO- Ramses II exhibition in Sydney is the national museum\u2019s largest in 200 years:<\/strong>\u2018Ramses & the Gold of the Pharaohs\u2019 launched this weekend at Australia\u2019s oldest museum, being valued at over USD 1.6 bn and having already pre-sold over 100k tickets ahead of the opening. (<a target=\"_blank\" href=\"https:\/\/www.theguardian.com\/artanddesign\/2023\/nov\/18\/mummy-dearest-priceless-egyptian-treasures-go-on-display-at-australian-museum-in-sydney\" style=\"\" rel=\"noopener\">The Guardian<\/a> | <a target=\"_blank\" href=\"https:\/\/www.al-monitor.com\/originals\/2023\/11\/egypts-ramses-ii-collection-opens-australia-biggest-200-years\" style=\"\" rel=\"noopener\">Al Monitor<\/a>)<\/p>\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/israel-palestine-conflict\/\">Israel-Palestine conflict<\/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=\"610335\" 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=\"610335\">\r\n            \r\n                <div class=\"issue-story-header text-center\">\r\n                    <div class=\"index-number\">13<\/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\/19\/hilton-and-amazon-developments-to-build-hotel-in-new-capital-tower-plus-news-from-ifc-jan-de-nul-egyptair\/\">\r\n                            Hilton and Amazon Developments to build hotel in new capital tower. PLUS news from IFC, Jan De Nul, EgyptAir                        <\/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\/19\/hilton-and-amazon-developments-to-build-hotel-in-new-capital-tower-plus-news-from-ifc-jan-de-nul-egyptair\/\" 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\/19\/hilton-and-amazon-developments-to-build-hotel-in-new-capital-tower-plus-news-from-ifc-jan-de-nul-egyptair\/')\">\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\/19\/hilton-and-amazon-developments-to-build-hotel-in-new-capital-tower-plus-news-from-ifc-jan-de-nul-egyptair\/\">\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=Hilton and Amazon Developments to build hotel in new capital tower. PLUS news from IFC, Jan De Nul, EgyptAir&url=https:\/\/enterpriseam.com\/egypt\/2023\/11\/19\/hilton-and-amazon-developments-to-build-hotel-in-new-capital-tower-plus-news-from-ifc-jan-de-nul-egyptair\/\">\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\/19\/hilton-and-amazon-developments-to-build-hotel-in-new-capital-tower-plus-news-from-ifc-jan-de-nul-egyptair\/&title=Hilton and Amazon Developments to build hotel in new capital tower. PLUS news from IFC, Jan De Nul, EgyptAir\">\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=Hilton+and+Amazon+Developments+to+build+hotel+in+new+capital+tower.+PLUS+news+from+IFC%2C+Jan+De+Nul%2C+EgyptAir+https%3A%2F%2Fenterpriseam.com%2Fegypt%2F2023%2F11%2F19%2Fhilton-and-amazon-developments-to-build-hotel-in-new-capital-tower-plus-news-from-ifc-jan-de-nul-egyptair%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\/19\/hilton-and-amazon-developments-to-build-hotel-in-new-capital-tower-plus-news-from-ifc-jan-de-nul-egyptair\/\">\r\n                    <div class=\"photo photo--above\">\r\n                        <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2023\/11\/968.JPG?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"610336\" data-permalink=\"https:\/\/enterpriseam.com\/egypt\/2023\/11\/19\/hilton-and-amazon-developments-to-build-hotel-in-new-capital-tower-plus-news-from-ifc-jan-de-nul-egyptair\/968-jpg\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2023\/11\/968.JPG?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"968.JPG\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2023\/11\/968.JPG?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2023\/11\/968.JPG?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-610335\" class=\"content-area-description single-story post-610335 post type-post status-publish format-standard has-post-thumbnail hentry category-also-on-our-radar tag-also-on-our-radar tag-china tag-egyptair tag-enterpriseam tag-health-ministry tag-healthcare tag-hilton tag-hospitality tag-international-finance-corporation tag-tourism 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_408146\"\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\/408144.svg\" alt=\"\" class=\"wp-image-408144\"\/><\/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\/.eeffd849-3b85-4f5b-ba21-0d7eed9e4a42.mp3\"><\/audio><\/figure><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>HOSPITALITY- <\/strong><\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Hilton partners with Amazon Developments for new capital hotel:<\/strong> American hospitality giant Hilton Hotels &amp; Resorts has inked a contract with the Egypt-focused Emirati real estate developer <a target=\"_blank\" href=\"https:\/\/developers-eg.com\/developer\/%D8%B4%D8%B1%D9%83%D8%A9-%D8%A7%D9%85%D8%A7%D8%B2%D9%88%D9%86-%D9%84%D9%84%D8%AA%D8%B7%D9%88%D9%8A%D8%B1-%D8%A7%D9%84%D8%B9%D9%82%D8%A7%D8%B1%D9%8A\/\" style=\"\" rel=\"noopener\">Amazon Developments<\/a> to establish a hotel inside a tower it is constructing in the new capital, according to a press release cited in <a target=\"_blank\" href=\"https:\/\/tinyurl.com\/4xtpfwba\" style=\"\" rel=\"noopener\">Al Mal<\/a>. The 120-room hotel with four restaurants and a swimming pool is expected to open in 2026. Hilton is currently in the process doubling its presence in Egypt by <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/d16559a4-09f7-46d7-a662-a86a9f90eb66\" style=\"\" rel=\"noopener\">building and opening<\/a> 13 new hotels by 2028 as of March 2023.<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>HEALTHCARE-<\/strong><\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The IFC could have a hand in increasing the private sector\u2019s role in healthcare:<\/strong>Health Ministry officials held talks over the weekend with the International Finance Corporation (IFC) about expanding public-private partnerships in the healthcare sector, the ministry <a target=\"_blank\" href=\"https:\/\/bit.ly\/3MNUTkK\" style=\"\" rel=\"noopener\">said<\/a> yesterday.<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Remember:<\/strong> The IFC is <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/ccf60aa3-abe9-4068-bfa8-8edb73995d9c\" style=\"\" rel=\"noopener\">advising<\/a> Egypt on its state privatization program.<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>ENERGY-<\/strong><\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Jan De Nul inks Mediterranean link MoU: <\/strong>Belgian maritime services provider <a target=\"_blank\" href=\"https:\/\/www.jandenul.com\/\" style=\"\" rel=\"noopener\">Jan De<\/a><a target=\"_blank\" href=\"https:\/\/www.jandenul.com\/\" style=\"\" rel=\"noopener\">Nul<\/a> will start studying a project to export renewable energy of at least 2 GW from Egypt to Europe via a Mediterranean link, under an MoU inked with the Egyptian Electricity Transmission Company (EETC) on Thursday, according to <a target=\"_blank\" href=\"https:\/\/tinyurl.com\/bdhz9hfj\" style=\"\" rel=\"noopener\">a cabinet statement<\/a>. The <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/d175bd9a-1e50-446f-9798-cb57fb10b71f\" style=\"\" rel=\"noopener\">cabinet greenlit<\/a> the move last month. <\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>** <\/strong>There are a number of other proposed Egypt-Europe interconnection projects in the works that we covered in a <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/a45b2def-700c-4c85-95d1-4266c2835580\" style=\"\" rel=\"noopener\">Going Green<\/a> published earlier this year. <\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>AVIATION- <\/strong><\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>EgyptAir announces new Cairo-Shanghai route:<\/strong> National carrier EgyptAir has started direct flights between Cairo International Airport and China\u2019s Shanghai Pudong International Airport, the state-owned company <a target=\"_blank\" href=\"https:\/\/tinyurl.com\/3ah9xea9\" style=\"\" rel=\"noopener\">said<\/a> yesterday. Flights will run three times a week and increase the total number of weekly EgyptAir-operated flights to China to 16.<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>BARTER ECONOMY-<\/strong><\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Oil-for-meds swap?<\/strong> The Export Council for Medical Industries is lobbying for a USD 300 mn swap agreement that would see Egypt receive oil from Venezuela in return for made-in-Egypt meds. Council chief Maged George is talking up the prospects of an agreement with <a target=\"_blank\" href=\"https:\/\/www.alborsaanews.com\/2023\/11\/14\/1734371\" style=\"\" rel=\"noopener\">Al Borsa<\/a> and says the Oil Ministry is aware of the idea. <\/p>\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/also-on-our-radar\/\">ALSO ON OUR RADAR<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/china\/\">China<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/egyptair\/\">EgyptAir<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/health-ministry\/\">Health Ministry<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/healthcare\/\">healthcare<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/hilton\/\">Hilton<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/hospitality\/\">hospitality<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/international-finance-corporation\/\">International Finance Corporation<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/tourism\/\">tourism<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                    <\/div>\n    <\/div>\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"610337\" 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=\"610337\">\r\n            \r\n                <div class=\"issue-story-header text-center\">\r\n                    <div class=\"index-number\">14<\/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\/19\/global-debt-hits-record-high-iif\/\">\r\n                            Global debt hits record high -IIF                        <\/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\/19\/global-debt-hits-record-high-iif\/\" 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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                \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\/19\/global-debt-hits-record-high-iif\/\">\r\n                    <div class=\"photo photo--above\">\r\n                        <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2023\/11\/956.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"610338\" data-permalink=\"https:\/\/enterpriseam.com\/egypt\/2023\/11\/19\/global-debt-hits-record-high-iif\/956-jpg-3\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2023\/11\/956.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"956.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2023\/11\/956.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2023\/11\/956.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-610337\" class=\"content-area-description single-story post-610337 post type-post status-publish format-standard has-post-thumbnail hentry category-planet-finance tag-capital-markets tag-emerging-markets tag-enterpriseam tag-financial-markets tag-planet-finance tag-sovereign-debt 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\/.eeffd849-3b85-4f5b-ba21-0d7eed9e4a42.mp3\"><\/audio><\/figure><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"> <strong>Global debt is no small matter<\/strong>: Global debt hit a fresh record of just over USD 307 tn in 3Q 2023 and the debt-to-output ratio among emerging markets also reached new territory, according to a report by the Institute of International Finance (IIF) cited by <a target=\"_blank\" href=\"https:\/\/www.reuters.com\/markets\/emerging\/global-debt-edges-fresh-record-populism-could-push-it-higher-iif-2023-11-16\/\" style=\"\" rel=\"noopener\">Reuters<\/a>. The world\u2019s total debt is expected to climb to USD 310 tn by the year\u2019s end, which would represent an increase of 25% in the last five years. <\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Populism could be making things worse: <\/strong>An era of geopolitical uncertainty and increasing political polarization could tip the balance in favor of populist policies in upcoming elections around the world, the IIF report estimates.Populist governance could lead to Increased government borrowing and spending, as well as with lax fiscal policy that would \u201ccreate further volatility in the markets,\u201d the group\u2019s director of sustainable research said in a press briefing cited by the newswire. <\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Emerging ma<\/strong><strong>rkets are the most vulnerable to increasing levels of debt<\/strong>: The debt-to-GDP ratio in emerging markets rose to 255% in the third quarter of the year, largely down to spiraling debt in Russia, China, Saudi Arabia, and Malaysia. This figure is up 32 percentage points from the same period five years ago, whilst global debt-to-GDP, which includes developed markets, held steady at 333%. <\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>We are in \u201calarming\u201d levels of debt<\/strong>: The IIF singled out us and Pakistan as the countries whose total revenues were most consumed by debt repayments. In the first two months of the current fiscal year, our debt servicing bill came in at around EGP 392 bn, which represented almost double the revenues made in the same period, <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/9e025525-f961-4982-baca-d63fd8de7b85\" style=\"\" rel=\"noopener\">according<\/a> to the Finance Ministry. <\/p><p><a target=\"_blank\" id=\"t.c3c899333fa694ff9f3b7397ee06a1bfbeccde9b\" 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\">24,383<\/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% (YTD: +67.0%)<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-none\">\n<td class=\"td-list-none\">\n<p><svg class=\"e-icon e-TypeMarkets\"><use xlink:href=\"#e-TypeMarkets\"><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>USD (CBE)<\/strong><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">Buy 30.83<\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">Sell 30.96<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-none\">\n<td class=\"td-list-none\">\n<p><svg class=\"e-icon e-TypeMarkets\"><use xlink:href=\"#e-TypeMarkets\"><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>USD at CIB<\/strong><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">Buy 30.85<\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">Sell 30.95<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-none\">\n<td class=\"td-list-none\">\n<p><svg class=\"e-icon e-TypeMarkets\"><use xlink:href=\"#e-TypeMarkets\"><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>Interest rates CBE<\/strong><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">19.25% deposit<\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">20.25% lending<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-up\">\n<td class=\"td-list-up\">\n<p><svg class=\"e-icon e-TypeMarkets11\"><use xlink:href=\"#e-TypeMarkets11\"><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>Tadawul<\/strong><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">11,082<\/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: +5.8%)<\/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>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\">9,575<\/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: -6.2%)<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-up\">\n<td class=\"td-list-up\">\n<p><svg class=\"e-icon e-TypeMarkets11\"><use xlink:href=\"#e-TypeMarkets11\"><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>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\">3,995<\/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: +19.7%)<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-up\">\n<td class=\"td-list-up\">\n<p><svg class=\"e-icon e-TypeMarkets11\"><use xlink:href=\"#e-TypeMarkets11\"><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>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\">4,514<\/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: +17.6%)<\/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>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\">7,504<\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">+1.3% (YTD: +0.7%)<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-up\">\n<td class=\"td-list-up\">\n<p><svg class=\"e-icon e-TypeMarkets11\"><use xlink:href=\"#e-TypeMarkets11\"><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>Euro Stoxx 50<\/strong><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">4,341<\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">+0.9% (YTD: +14.4%)<\/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>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 80.61<\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">+4.1%<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-down\">\n<td class=\"td-list-down\">\n<p><svg class=\"e-icon e-TypeMarkets1\"><use xlink:href=\"#e-TypeMarkets1\"><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>Natural gas <\/strong>(Nymex)<\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">USD 2.96<\/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\">-3.3%<\/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 1,984.70<\/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\">-0.1%<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-down\">\n<td class=\"td-list-down\">\n<p><svg class=\"e-icon e-TypeMarkets1\"><use xlink:href=\"#e-TypeMarkets1\"><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>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 36,547.02<\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">-0.2% (YTD: +121.1%)<\/p>\n<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<\/div><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>THE CLOSING BELL-<\/strong><\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The EGX30 rose 1.0% at Thursday\u2019s close<\/strong> on turnover of EGP 3.4 bn (29% above the 90-day average). Local investors were net sellers. The index is up 67.0% YTD.<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>In the green: <\/strong>Orascom Development (+5.6%), Palm Hills Development (+5.0%) and Qalaa Holdings (+5.0%).<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>In the red: <\/strong>CIRA Education (-2.7%), Madinet Masr (-0.8%) and Talaat Moustafa Group (-0.4%).<\/p>\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/capital-markets\/\">capital markets<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/emerging-markets\/\">emerging markets<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/financial-markets\/\">Financial Markets<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <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\/sovereign-debt\/\">sovereign debt<\/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=\"610339\" 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\/19\/610339\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-610339\" class=\"content-area-description single-story post-610339 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>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;\">19 November (Sunday): House reconvenes.<\/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;\">23 November (Thursday): The Saudi Egyptian Real Estate Investment Conference.<\/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>10-12 December (Sunday-Tuesday): Voting <\/span><span>in presidential<\/span><span style=\"font-weight:400;\"> 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>Eastern sale done | More USD from IMF? | CIB borrows from EBRD | OpenAI fires Sam Altman<\/p>\n","protected":false},"featured_media":610305,"menu_order":0,"template":"","categories":[],"tags":[],"class_list":["post-610304","issue","type-issue","status-publish","has-post-thumbnail","hentry","wpautop","entry"],"acf":{"mongo_id":"000aa8e9-0b6b-4cde-91a7-d8a0e9bebcf6","teaser":"Eastern sale done | More USD from IMF? | CIB borrows from EBRD | OpenAI fires Sam Altman","photo_url":"https:\/\/ent.news\/2023\/11\/973.jpg"},"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v27.1 (Yoast SEO v27.1.1) - 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