{"id":610559,"date":"2023-11-22T00:00:00","date_gmt":"2023-11-22T00:00:00","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/?post_type=issue&#038;p=610559"},"modified":"2025-12-17T02:10:31","modified_gmt":"2025-12-17T02:10:31","slug":"gaza-to-get-four-day-reprieve-after-israel-backs-hostage-for-ceasefire-pact","status":"publish","type":"issue","link":"https:\/\/enterpriseam.com\/egypt\/issues\/gaza-to-get-four-day-reprieve-after-israel-backs-hostage-for-ceasefire-pact\/","title":{"rendered":"Gaza to get four-day reprieve after Israel backs hostage-for-ceasefire pact"},"content":{"rendered":"<section id=\"610561\" 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=\"610561\">\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\/22\/cz-head-of-crypto-giant-binance-steps-down-after-guilty-plea-in-money-laundering-case\/\">\r\n                            CZ, head of crypto giant Binance, steps down after guilty plea in money laundering case                        <\/a>\r\n                    <\/h3>\r\n\r\n                    \r\n\t\t\t\t\t\n<div class=\"cta\">\n    <div class=\"cta__btn share-dropdown-cta dropdown-toggle-btn\" style=\"position:relative\">\n        <img decoding=\"async\" src=\"https:\/\/ent.news\/internal\/408834.svg\" alt=\"\">\n        Share Story\n        <!-- Dropdown Menu -->\n        <ul class=\"share-menu\">\n            <li class=\"list-inline-item\">\n                <a 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data-image-meta=\"[]\" data-image-title=\"1229.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2023\/11\/1229.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2023\/11\/1229.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-610561\" class=\"content-area-description single-story post-610561 post type-post status-publish format-standard has-post-thumbnail hentry category-what-were-tracking-today tag-binance tag-cryptocurrency tag-enterpriseam 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\/.550aaf9a-a12a-4a9d-8e77-22fb0a451e59.mp3\"><\/audio><\/figure><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Good morning, ladies and gents:<\/strong> Before we get started, a quick programming note\u2026<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>We\u2019re taking a publication holiday tomorrow <\/strong>(Thursday, 22 November) to allow our team to work ahead on a couple of new projects \u2014 and to get a bit of extra shuteye. EnterpriseAM, EnterprisePM, Enterprise Climate, and Enterprise Logistics will all be off, but our Weekend Edition will appear as usual on Friday morning. We\u2019ll be back to our customary schedule on Sunday. <strong>Happy Thanksgiving <\/strong>to all of our readers celebrating. <\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>WATCH THIS SPACE-<\/strong><\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><a id=\"wwtt3\"><\/a> <strong>We\u2019re hoping for news today and tomorrow of additional Gulf investment in Egypt<\/strong>, particularly in manufacturing, real estate, and tourism, as the <a target=\"_blank\" href=\"https:\/\/gcc-egyptbf.com\/en\/forum\/forum-program-1\" style=\"\" rel=\"noopener\">EGY-GCC Business Forum<\/a> kicks off today. The gathering, which wraps tomorrow, is expected to be well-attended by Gulf and Egyptian business leaders.<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Saudi investors have over 150 Egyptian projects to pick and choose from: <\/strong>The Madbouly government showcased over 150 investment ideas to Saudi investors yesterday during the Saudi-Egyptian Business Council, head of the Trade Ministry\u2019s Commercial Representation Authority Yehia El Wathek Bellah told Al Arabiya <a target=\"_blank\" href=\"https:\/\/tinyurl.com\/3aefmvzn\" style=\"\" rel=\"noopener\">(watch, runtime: 4:49)<\/a>. Saudi Minister of Commerce Majid Al Qasabi had a bullish outlook on future business and trade between the two countries as obstacles facing Saudi investors are being addressed, he said in an interview with <a target=\"_blank\" href=\"https:\/\/tinyurl.com\/yc2bapke\" style=\"\" rel=\"noopener\">Al Arabiya<\/a> yesterday. <\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>It\u2019s already been a pretty good week on that front:<\/strong> Units of Saudi Arabia\u2019s Fawaz Abdulaziz Alhokair Company (Alhokair) could <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/69b8b91f-c578-46f3-be19-8ddb6345359a\" style=\"\" rel=\"noopener\">invest as much as USD 1.5 bn<\/a> in Egypt next year. Meanwhile, <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/fdea26fc-2215-4c19-a83d-86d3fbb81670\" style=\"\" rel=\"noopener\">Al Lami Holding Group and Batterjee<\/a> are eyeing separate investments worth more than a combined USD 555 mn in our tourism, real estate, and pharma sectors. <\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>SMART POLICY-<\/strong><\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>#1-<\/strong><strong>e-KYC coming next year? <\/strong>The Central Bank of Egypt (CBE) plans to roll out e-KYC, or an electronic know-your-customer process, deputy assistant governor of the CBE Ehab Nasr told <a target=\"_blank\" href=\"https:\/\/twitter.com\/AsharqbEGY\/status\/1726951522351685779?s=20\" style=\"\" rel=\"noopener\">Asharq Business<\/a>, without mentioning a timeframe. However, <a target=\"_blank\" href=\"https:\/\/tinyurl.com\/mwvnp4en\" style=\"\" rel=\"noopener\">Al Mal<\/a> reports that the system should be in place by 3Q 2024.<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>It\u2019s huge news for banks <\/strong>and other players in the financial services industry who are desperate to move away from wet signatures. A switch to e-KYC allows current and potential customers to verify their identities online \u2014 getting low-value transactions out of branches (if you\u2019re the bank) and saving you the hassle of driving to, parking, and queuing at the branch (if you\u2019re the customer). <\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Remember:<\/strong> The central bank in 2020 <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/20146143-119c-4605-af05-60b47d84a431\" style=\"\" rel=\"noopener\">introduced streamlined light KYC regulations<\/a> that paved the way for banks to use an agent to onboard customers using only each individual\u2019s national ID.<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>#2- An app for opening bank accounts remotely? <\/strong>The CBE also plans to launch a new mobile app next year that will allow users to open bank accounts online from anywhere in the world, according to another report from <a target=\"_blank\" href=\"https:\/\/tinyurl.com\/3tf6j54j\" style=\"\" rel=\"noopener\">Asharq Business<\/a>, citing who it says to be a government official. The app will be managed by the Digital Financial Identity Company (DFIC), the source added. The CBE is helping set up DFIC with EGP 275 mn in capital, or a 55% stake, according to the bank\u2019s <a target=\"_blank\" href=\"https:\/\/ent.news\/2023\/11\/1136.pdf\" style=\"\" rel=\"noopener\">FY 2022-23 financials (pdf)<\/a>.<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The CBE is making strides on the digital inclusion front: <\/strong>The bank in March 2022 <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/16f68b1b-62fc-4d71-a4bd-a75a9f1648fb\" style=\"\" rel=\"noopener\">launched<\/a> its digital payment platform InstaPay after <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/ca22340a-9129-4a74-9eb8-0be6ae5bab3a\" style=\"\" rel=\"noopener\">issuing regulations<\/a> for the instant payment network (IPN) back in 2021. The app \u2014 which provides instant payments between Egyptian banks, Meeza cards, and mobile wallets \u2014 has seen its user base grow 82% over the past eight months to over <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/d0de16f6-4f11-4511-8f5f-743b1a57da64\" style=\"\" rel=\"noopener\">4 mn users<\/a>.<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Uhm, can we be greedy and ask for more? <\/strong>If we can speak on behalf of our friends in the banking community to our friends at the CBE: It would be most awesome if we could move to digital record storage, too, rather than requiring banks to store hard copies of records. <\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>HELP GAZA-<\/strong><\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><a id=\"wwtt2\"><\/a> <strong>Want to support relief efforts in Gaza, but don\u2019t know how?<\/strong> We\u2019ve got you. More than 1 mn people in Gaza have been thrown from their homes and every human being there lacks access to food, water, and fuel amid the most intense bombardment any population has endured this century.<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The folks at Talabat are processing donations for a range of Gaza relief appeals <\/strong>by charities including the Egyptian Food Bank and Misr El Kheir. Pay in EGP using your credit card.<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Or check out <\/strong><strong><a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/edition\/am\/f8ce0f50-10c2-4cca-8e6f-64c32a5c90b7\" style=\"\" rel=\"noopener\">our list of charities<\/a><\/strong><strong> to which you can make direct donations<\/strong> via bank deposit and \/ or Fawry.<\/p><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>#1- Shoukry &amp; Co. head to London and Paris: <\/strong>Foreign Minister Sameh Shoukry and the rest of the delegation of Arab and Islamic officials are heading to the UK and France today to press officials to back a ceasefire on Gaza, according to <a target=\"_blank\" href=\"https:\/\/www.aa.com.tr\/en\/turkiye\/turkish-foreign-minister-to-visit-uk-france-along-with-arab-islamic-ministerial-delegation-to-discuss-gaza-crisis\/3060591\" style=\"\" rel=\"noopener\">Turkish media<\/a>. The delegation is visiting the five permanent members of the UN Security Council in a bid to build momentum for a ceasefire, and has so far visited Beijing and Moscow. We have more on yesterday\u2019s talks with Russian officials in this morning\u2019s War Watch, below.<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>#2- MERIS may be getting some competition: <\/strong>Today is the last chance to apply for a credit rating license from the FRA after it <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/d087ef18-4b4b-4559-ac5d-ac851785b9eb\" style=\"\" rel=\"noopener\">loosened<\/a> requirements last year.<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>#3- It\u2019s the last day of payment and fintech conference <\/strong><strong><a target=\"_blank\" href=\"https:\/\/www.cbe.org.eg\/ar\/news-publications\/news\/2023\/11\/20\/13\/30\/powered-by-the-central-bank-of-egypt---the-launch-of-pafix-conference-and-exhibition\" style=\"\" rel=\"noopener\">Pafix<\/a><\/strong><strong> today<\/strong> as part of <strong><a target=\"_blank\" href=\"https:\/\/cairoict.com\/\" style=\"\" rel=\"noopener\">Cairo ICT<\/a><\/strong><strong><a target=\"_blank\" href=\"https:\/\/cairoict.com\/\" style=\"\" rel=\"noopener\"><\/a><\/strong><strong><a target=\"_blank\" href=\"https:\/\/cairoict.com\/\" style=\"\" rel=\"noopener\">2023<\/a><\/strong>at the Egypt International Exhibition Centre in New Cairo.<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>HAPPENING TOMORROW-<\/strong><\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>#1- The Bahrainis are in town: <\/strong>A Bahraini government delegation will land in Cairo tomorrow to kick off the Egyptian-Bahraini Government Committee\u2019s first session. Finance Minister Mohamed Maait and his Bahraini counterpart Salman Bin Khalifa Al Khalifa are set to discuss trade, economic, scientific, and technological cooperation, according to the Finance Ministry <a target=\"_blank\" href=\"https:\/\/bit.ly\/3sHJ20I\" style=\"\" rel=\"noopener\">readout<\/a> yesterday<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>#2- Even more Saudi real estate investment incoming?<\/strong> Tomorrow\u2019s Saudi Egyptian Real Estate Investment Conference in Riyadh with industry insiders and government policy makers from both countries will focus on opening up Saudi investment potential in Egypt and utilizing our real estate know-how, according to a statement picked up by <a target=\"_blank\" href=\"https:\/\/www.zawya.com\/en\/press-release\/events-and-conferences\/saudi-egyptian-real-estate-investment-conference-launches-in-riyadh-j7eg0032\" style=\"\" rel=\"noopener\">Zawya<\/a>.<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>#3- Education, Education, Education: <\/strong>The <a target=\"_blank\" href=\"https:\/\/educationfair.findadmission.com\/event\/549\" style=\"\" rel=\"noopener\">Worldview Education Fair<\/a> is kicking offon Friday with representatives for 20 universities and business schools looking for bright and eager students to enroll.<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><img data-recalc-dims=\"1\" decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2023\/11\/1238.jpg?ssl=1\"><\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>THE BIG STORIES ABROAD-<\/strong><\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>#1-<\/strong><strong>Dominating the global news agenda this morning:<\/strong> The Israeli government has agreed a hostage swap pact with Hamas that will see a four-day pause in the fighting, at least 50 Israeli hostages released, and 150 Palestinian detained freed. We have the full story in this morning\u2019s War Watch below. (<a target=\"_blank\" href=\"https:\/\/apnews.com\/article\/israel-hamas-war-news-11-21-2023-39f5ae0bdb4e32f0e69115aa43446132\" style=\"\" rel=\"noopener\">Associated Press<\/a> | <a target=\"_blank\" href=\"https:\/\/www.reuters.com\/world\/middle-east\/israeli-government-debates-deal-release-gaza-hostages-truce-2023-11-21\/\" style=\"\" rel=\"noopener\">Reuters<\/a> | <a target=\"_blank\" href=\"https:\/\/www.bloomberg.com\/news\/articles\/2023-11-22\/israel-approves-hostage-deal-pause-in-war-with-hamas?srnd=premium-middle-east\" style=\"\" rel=\"noopener\">Bloomberg<\/a> | <a target=\"_blank\" href=\"https:\/\/www.ft.com\/content\/a2798b87-8d2f-40cd-b87a-fdc1ae12c75f\" style=\"\" rel=\"noopener\">Financial Times<\/a> | <a target=\"_blank\" href=\"https:\/\/www.nytimes.com\/live\/2023\/11\/21\/world\/israel-hamas-gaza-war-news\" style=\"\" rel=\"noopener\">New York Times<\/a> | <a target=\"_blank\" href=\"https:\/\/www.washingtonpost.com\/world\/2023\/11\/21\/israel-hamas-war-gaza-news-palestine\/\" style=\"\" rel=\"noopener\">Washington Post<\/a> | <a target=\"_blank\" href=\"https:\/\/www.wsj.com\/livecoverage\/israel-hamas-war-gaza-strip-2023-11-21\" style=\"\" rel=\"noopener\">Wall Street Journal<\/a> | <a target=\"_blank\" href=\"https:\/\/www.bbc.com\/news\/live\/world-middle-east-67481139\" style=\"\" rel=\"noopener\">BBC<\/a>)<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"> <a id=\"wwtt5\"><\/a> <strong>#2- This morning in corporate crime: The CEO of the world\u2019s largest crypto exchange pleads guilty to money laundering:<\/strong>Binance CEO Changpeng Zhao (known as CZ in the crypto world) has stepped down and pleaded guilty to breaching anti-money laundering laws in the US in what was described by prosecutors as one of the heftiest corporate penalties in US history, according to statements from the <a target=\"_blank\" href=\"https:\/\/home.treasury.gov\/news\/press-releases\/jy1925\" style=\"\" rel=\"noopener\">US Treasury<\/a> and <a target=\"_blank\" href=\"https:\/\/www.justice.gov\/opa\/pr\/binance-and-ceo-plead-guilty-federal-charges-4b-resolution\" style=\"\" rel=\"noopener\">Justice Department<\/a> yesterday. The company has agreed to pay a USD 4.3 bn settlement to the government, and completely exit the US.<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The charges:<\/strong> Binance failed to report over 100k suspicious transactions with organizations including Hamas, Al Qaeda, and ISIS. The crypto platform also failed to report transactions with websites selling child abuse content and was one of the biggest recipients of spoils from hackers using ransomware.<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Another crypto king dethroned:<\/strong> FTX founder Sam Bankman-Fried is now looking at up to <a target=\"_blank\" href=\"https:\/\/www.cnbc.com\/2023\/11\/02\/sam-bankman-fried-found-guilty-on-all-seven-criminal-fraud-counts.html\" style=\"\" rel=\"noopener\">115 years in prison<\/a> after being found guilty of <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/069c1eaa-df8e-408b-bf8a-f60760eb10f7\" style=\"\" rel=\"noopener\">seven counts of criminal fraud<\/a> earlier this month, including stealing from customers on his platform.<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Zhao will likely serve no more than 18 months in prison <\/strong>as part of a plea agreement, despite facing a sentence of up to 10 years.<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The news is the big story in the business press this morning:<\/strong><a target=\"_blank\" href=\"https:\/\/www.reuters.com\/markets\/us\/us-authorities-set-unveil-settlement-with-binance-source-2023-11-21\/#:~:text=NEW%20YORK%2C%20Nov%2021%20(Reuters,exchange%2C%20prosecutors%20said%20on%20Tuesday.\" style=\"\" rel=\"noopener\">Reuters<\/a> | <a target=\"_blank\" href=\"https:\/\/www.bloomberg.com\/news\/articles\/2023-11-21\/binance-ceo-zhao-to-plead-guilty-in-us-settlement-wsj?srnd=premium-middle-east\" style=\"\" rel=\"noopener\">Bloomberg<\/a> | <a target=\"_blank\" href=\"https:\/\/www.ft.com\/content\/d10af983-1376-457f-9709-815e04ba59fb\" style=\"\" rel=\"noopener\">Financial Times<\/a> | <a target=\"_blank\" href=\"https:\/\/www.nbcnews.com\/tech\/tech-news\/binance-ceo-steps-crypto-platform-hit-4-billion-fines-rcna126071\" style=\"\" rel=\"noopener\">CNBC<\/a> | <a target=\"_blank\" href=\"https:\/\/www.wsj.com\/finance\/currencies\/binance-ceo-changpeng-zhao-step-down-plead-guilty-01f72a40\" 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>#3- OpenAI board is buckling under pressure to bring back Altman:<\/strong> OpenAI\u2019s board is in talks with Sam Altman to bring the highly-popular ex-CEO back to the company, just days after deciding to fire him, <a target=\"_blank\" href=\"https:\/\/www.bloomberg.com\/news\/articles\/2023-11-21\/altman-openai-board-open-talks-to-negotiate-his-possible-return\" style=\"\" rel=\"noopener\">Bloomberg<\/a> and <a target=\"_blank\" href=\"https:\/\/www.washingtonpost.com\/technology\/2023\/11\/21\/sam-altman-openai-ceo\/\" style=\"\" rel=\"noopener\">The Washington Post<\/a> reported the news, citing sources they say are familiar with the matter. Nearly all of the company\u2019s 700 employees have reportedly <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/edition\/am\/53bd6479-27a1-42f1-97ae-d2b1d7424f9b\" style=\"\" rel=\"noopener\">threatened<\/a> to leave if Altman is not reinstated. <\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>HAPPENING SOON<\/strong><\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>#1- Will they, won\u2019t they? OPEC+ oil production cuts edition: <\/strong>OPEC+ member states are meeting on Sunday to discuss how the cartel of oil-producing nations will respond to falling oil prices and how new economic realities could further stifle demand. The bloc\u2019s production cuts are expected to be prolonged to at least the group\u2019s meeting and there\u2019s also talk of an additional 1 mn barrels per day cut, according to industry insider chatter picked up by the <a target=\"_blank\" href=\"https:\/\/www.ft.com\/content\/b2828be2-a3a7-4b3f-bb50-d816ee7162ca\" style=\"\" rel=\"noopener\">Financial Times<\/a>. <\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><a id=\"wwtt4\"><\/a> <strong>#2- COP28 is only a week away: <\/strong>The countdown to <a target=\"_blank\" href=\"https:\/\/www.cop28.com\/\" style=\"\" rel=\"noopener\">COP28<\/a> has begun as global leaders in climate, policy, and business prepare for 13 days of intense negotiations in Dubai to save our planet from climate catastrophe running from 30 November to 12 December. The conference will embark on wrapping up its first Global Stocktake (GST) of the progress (or lack thereof) we have collectively made since 2015\u2019s landmark Paris Climate Accords where we agreed to limit global warming to well below 2 degrees Celsius. Expect to see Egypt pushing its <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/e8955f81-cf90-4318-8d00-145a376d53b4\" style=\"\" rel=\"noopener\">landmark<\/a> \u201cjust financing\u201d policy that it unveiled at last year\u2019s conference in Sharm El Sheikh.<\/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>Fed looks set to hold rates as they are, but is still erring on the side<\/strong><strong> of caution<\/strong>: The Federal Reserve showed \u201clittle urgency\u201d for another rate hike according to minutes from an official meeting this week cited in the <a target=\"_blank\" href=\"https:\/\/www.ft.com\/content\/7b249dd1-dd3d-4714-9ea8-4f4171f8d83a\" style=\"\" rel=\"noopener\">Financial Times<\/a>. Officials were keen to emphasize, however, that future rate decisions are still heavily data-dependent and that policy would \u201cremain at a restrictive stance for some time until inflation is clearly moving down sustainably towards the committee\u2019s\u201d 2% target.<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Remember<\/strong>: The Fed decided to hold rates steady for the second consecutive time this month, plateauing at a 22-year high of 5.25-5.5% after an aggressive monetary tightening cycle that began in March of last year in the wake of Russia\u2019s invasion of Ukraine.<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>CIRCLE YOUR CALENDAR-<\/strong><\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The <\/strong><strong><a target=\"_blank\" href=\"https:\/\/www.egyptdefenceexpo.com\/what-is-edex\" style=\"\" rel=\"noopener\">Egypt Defense Expo (EDEX)<\/a><\/strong><strong> will be firing off from 4 to 7 December:<\/strong> Around 35k defense and security professionals from across the world will land down in Cairo next month for the biennial event at the Egypt International Exhibition Center.<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong><a target=\"_blank\" href=\"https:\/\/enterprise.news\/\" style=\"\" rel=\"noopener\">Check out our full calendar on the web<\/a><\/strong> for a comprehensive listing of upcoming news events, national holidays and news triggers.<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><img data-recalc-dims=\"1\" decoding=\"async\" src=\"https:\/\/i0.wp.com\/enterprise.press\/wp-content\/uploads\/2020\/01\/Web-view-01.jpg\"><\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>*** It\u2019s Hardhat day \u2014 your weekly briefing of all things infrastructure in Egypt:<\/strong> Enterprise\u2019s industry vertical focuses each Wednesday on infrastructure, covering everything from energy, water, transportation, and urban development, as well as social infrastructure such as health and education. <\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>In today\u2019s issue: <\/strong>We take a look at how the Madbouly government is looking to the private sector next year to develop our sports infrastructure ahead of our planned Olympics bid. <\/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\/binance\/\">Binance<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/cryptocurrency\/\">cryptocurrency<\/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=\"610563 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=\"610563\">\r\n            \r\n            <div class=\"story__body\">\r\n\r\n                <a href=\"https:\/\/enterpriseam.com\/egypt\/2023\/11\/22\/610563\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-610563\" class=\"content-area-description single-story post-610563 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=\"610564\" 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=\"610564\">\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\">WAR WATCH<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2023\/11\/22\/hamas-israel-agree-hostage-for-ceasefire-pact\/\">\r\n                            Hamas, Israel agree hostage-for-ceasefire pact                        <\/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\/22\/hamas-israel-agree-hostage-for-ceasefire-pact\/\" target=\"_blank\">\n                    Open in new tab                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/new-tab.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a href=\"#\" target=\"_blank\" onclick=\"event.preventDefault(); 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The agreement \u2014 the biggest diplomatic breakthrough since the conflict began almost seven weeks ago \u2014 follows weeks of negotiations mediated by Egypt and Qatar, and hours of discussions among Israeli officials last night.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>What we know:<\/strong><\/p>\n<ul>\n<li><strong>A fifth of hostages to be released:<\/strong> Hamas will release 50 women and children during the four-day truce. The armed group is thought to hold 240 Israeli captives. <\/li>\n<li><strong>A prisoner swap:<\/strong> Israel has agreed to release 150 Palestinian prisoners, mostly women and children, during the four-day period, according to <a target=\"_blank\" href=\"https:\/\/www.axios.com\/2023\/11\/21\/israel-hamas-hostage-ceasefire-deal-imminent\" style=\"\" rel=\"noopener\">Axios<\/a>.<\/li>\n<li><strong>More aid:<\/strong> Israel will allow 300 aid trucks into Gaza every day, a substantial increase from the c.100 trucks that are currently crossing the Rafah border daily.<\/li>\n<li><strong>It\u2019s not over the line yet:<\/strong> The agreement won\u2019t come into force until Thursday at the earliest to give for the Supreme Court to rule on the decision.<\/li>\n<\/ul>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\">\n<hr style=\"height:2px;border-width:0;color:gray;background-color:gray\">\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Arab \/ Islamic delegation in Moscow:<\/strong> Russia\u2019s chief diplomat Sergey Lavrov became the second P5 foreign minister to call for a ceasefire in Gaza and the release of hostages during talks with a delegation of Arab and Islamic officials in Moscow yesterday, the Russian Foreign Ministry <a target=\"_blank\" href=\"https:\/\/mid.ru\/ru\/foreign_policy\/news\/1916478\/\" style=\"\" rel=\"noopener\">said<\/a>. Lavrov described Israel\u2019s \u201ccollective punishment\u201d of the people of Gaza as \u201cunacceptable,\u201d and urged new humanitarian corridors to be established and steps to be taken towards the creation of a Palestinian state.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Remember:<\/strong> The delegation \u2014 which includes Foreign Minister Sameh Shoukry, as well as the chief diplomats from Palestine, Jordan, Saudi Arabia, and Indonesia \u2014 is visiting the five permanent members of the UN Security Council to build global support for a ceasefire. It made <a target=\"_blank\" href=\"https:\/\/www.enterprise.news\/news\/story\/f9710419-abbe-4e65-a2ea-028ba8e81514\/\" style=\"\" rel=\"noopener\">its first stop in Beijing<\/a> on Monday where Chinese officials called for an immediate end to the violence.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Egypt makes move at the Security Council:<\/strong> Egypt has drafted a UN Security Council resolution that aims to overcome \u201cexisting obstacles and imbalances\u201d to the entry of aid into Gaza, the <a target=\"_blank\" href=\"https:\/\/twitter.com\/MfaEgypt\/status\/1726953051276370404\" style=\"\" rel=\"noopener\">Foreign Ministry said<\/a> yesterday, without disclosing further information. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Brics leaders meet, fail to reach an agreement. <\/strong>Leaders from Egypt, South Africa, China, Brazil, India, Russia, Saudi Arabia, Ethiopica, Argentina, the UAE, and Iran attended a remote emergency Brics meeting yesterday to look at ways to de-escalate the ongoing war on Gaza. The meeting ended with <a target=\"_blank\" href=\"https:\/\/tinyurl.com\/ybxp3jp9\" style=\"\" rel=\"noopener\">a joint statement<\/a> but no joint declaration, which South African President Cyril Ramaphosa <a target=\"_blank\" href=\"https:\/\/www.reuters.com\/world\/brics-countries-discuss-gaza-conflict-dont-agree-joint-declaration-2023-11-21\/\" style=\"\" rel=\"noopener\">blamed on lack of sufficient time<\/a> rather than the leaders\u2019 divided stances. In the statement, Brics leaders condemned the forced displacement of the people of Palestine \u2014 a move that has been pushed by a number of Israeli officials \u2014 and called for a humanitarian truce.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>South Africa to cut ties with Israel:<\/strong> South African MPs voted yesterday to close the Israeli embassy and cut diplomatic ties until Israel agrees to a ceasefire, the <a target=\"_blank\" href=\"https:\/\/apnews.com\/article\/south-africa-israel-ambassador-recall-gaza-bb30d780d0d33f2220dc08bf032a5738\" style=\"\" rel=\"noopener\">Associated Press<\/a> reports. The opposition motion was supported by the ruling African National Congress party and came two weeks after the country withdrew its ambassador from Tel Aviv. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Madbouly reassures MPs on Gaza displacement:<\/strong> Egypt has been under political and economic pressure to allow the displacement of Palestinians to Sinai but the government will not allow this to happen, Prime Minister Moustafa Madbouly told MPs yesterday. \u201cThe government is well aware of conspiracies aimed at liquidating the Palestinian cause and destabilizing Egypt's national security,\u201d he said during a parliamentary session. \u201cEgypt will take a firm reaction against any attempts to resettle Palestinians in Sinai.\u201d<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>ON THE GROUND-<\/strong> Death toll <a target=\"_blank\" href=\"https:\/\/tinyurl.com\/5h74f6e7\" style=\"\" rel=\"noopener\">rises to 14.1k+<\/a> | Gaza received <a target=\"_blank\" href=\"https:\/\/www.bbc.com\/news\/live\/world-middle-east-67481139?ns_mchannel=social&ns_source=twitter&ns_campaign=bbc_live&ns_linkname=655cee762ea49e2bc009bbb1%26US%20says%2020%2C000%20gallons%20of%20fuel%20reached%20Gaza%20over%20last%20day%262023-11-21T18%3A33%3A29.465Z&ns_fee=0&pinned_post_locator=urn:asset:f272b31d-dcc2-410b-817a-48d064e28be0&pinned_post_asset_id=655cee762ea49e2bc009bbb1&pinned_post_type=share\" style=\"\" rel=\"noopener\">76k liters of fuel<\/a> on Monday | <a target=\"_blank\" href=\"https:\/\/twitter.com\/MayadeenEnglish\/status\/1726907050960289848\" style=\"\" rel=\"noopener\">2<\/a><a target=\"_blank\" href=\"https:\/\/twitter.com\/MayadeenEnglish\/status\/1726907050960289848\" style=\"\" rel=\"noopener\">journalists killed<\/a> in Israeli airstrike in Lebanon | <a target=\"_blank\" href=\"https:\/\/twitter.com\/MayadeenEnglish\/status\/1726907050960289848\" style=\"\" rel=\"noopener\">2 journalists killed<\/a> in Lebanon, and at least 53 killed in total, marking the <a target=\"_blank\" href=\"https:\/\/cpj.org\/2023\/11\/journalist-casualties-in-the-israel-gaza-conflict\/\" style=\"\" rel=\"noopener\">deadliest month for journalists<\/a> since CPJ began gathering data in 1992. <\/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\/diplomacy\/\">DIPLOMACY<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/israel\/\">Israel<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/israel-palestine-conflict\/\">Israel-Palestine conflict<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/middle-east-politics\/\">Middle East politics<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/palestine\/\">Palestine<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/war-watch\/\">war watch<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                    <\/div>\n    <\/div>\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"610566\" 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=\"610566\">\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\/22\/egypt-economic-growth-to-accelerate-this-fiscal-year-as-privatization-boosts-investment-bmi\/\">\r\n                            Egypt economic growth to accelerate this fiscal year as privatization boosts investment -BMI                        <\/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 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data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2023\/11\/1219.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"1219.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2023\/11\/1219.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2023\/11\/1219.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-610566\" class=\"content-area-description single-story post-610566 post type-post status-publish format-standard has-post-thumbnail hentry category-economy tag-economy tag-enterpriseam tag-fitch tag-foreign-exchange tag-inflation tag-interest-rates tag-israel-palestine-conflict 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\/.e8a851b8-a864-4be7-ac19-101d823efb6f.mp3\"><\/audio><\/figure>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"> <strong>State asset sales to underpin stronger economic growth this year -BMI:<\/strong> The Egyptian economy will see improved growth this fiscal year on the back of the government\u2019s <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/e8a0da43-f922-4a49-b3a9-839f397f8ce4\" style=\"\" rel=\"noopener\">privatization program<\/a>, though the war in Gaza will add to the headwinds bearing down on the economy, according to BMI, a research unit of Fitch Solutions. Economic growth will accelerate to 4.2% this year from 3.8% in FY 2022-2023 as progress on asset sales draws new FDI that will \u201cmore than offset\u201d the impact of falling demand and limited ability to cut imports, it wrote in a recent report.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Remember:<\/strong> The government rebooted its privatization program earlier this year, selling stakes in <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/053a8175-6db9-4185-ab3d-520dc017ac28\" style=\"\" rel=\"noopener\">Telecom Egypt<\/a>, <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/7ace4d4a-08f1-4f2e-bc12-15379d392de7\" style=\"\" rel=\"noopener\">Al Ezz Dekheila<\/a>, <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/dff2db56-5a9e-4579-ae83-7f347fadb67c\" style=\"\" rel=\"noopener\">Elab, Ethydco, and EDC<\/a>, and <a target=\"_blank\" href=\"https:\/\/www.enterprise.news\/news\/story\/d42b0c32-513b-4c59-9cd3-ee95c9515f06\/Egypt%20sells%2030%25%20stake%20in%3Cmark%3E%20Eastern%20%3C%2Fmark%3ECompany%20for%20USD%20625%20mn\" style=\"\" rel=\"noopener\">Eastern Company<\/a>. <strong>Next in line<\/strong> are stakes 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 the 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<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Slower than expected:<\/strong> BMI\u2019s latest outlook is a slight downgrade from its previous 4.4% forecast following the outbreak of war in Gaza, which it says will drag on investment, consumption, and exports. The war will add \u201canother layer of uncertainty\u201d and encourage businesses to adopt \u201ca \u2018wait-and-see\u2019 approach\u201d towards investment, the report says. It has also created \u201csignificant risks\u201d for the tourism sector, and forced the government to curb import-intensive projects.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>BMI aligns with the government\u2019s forecast: <\/strong>The government this month <a target=\"_blank\" href=\"https:\/\/www.enterprise.news\/news\/story\/0d289316-dd69-4504-a2ae-cfa6bcbf94b7\/Economic%20growth%20almost%20halves%20to%203.8%25%20in%2022-23%20%E2%80%93Planning%20Ministry\" style=\"\" rel=\"noopener\">raised<\/a> its growth target for the current fiscal year to 4.2%.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>It\u2019s not the first int\u2019l institution to downgrade its Egypt growth outlook in recent weeks: <\/strong>Both the <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/18f5a345-3af0-4908-af1b-d9a8a46852a1\" style=\"\" rel=\"noopener\">IMF<\/a> and <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/b2f9b1b3-dd65-41f5-a301-4613e12d726e\" style=\"\" rel=\"noopener\">World Bank<\/a> cut their growth forecasts last month on the back of the ongoing FX crisis and the government\u2019s <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/9e025525-f961-4982-baca-d63fd8de7b85\" style=\"\" rel=\"noopener\">rising borrowing costs<\/a>. The lenders are now expecting the Egyptian economy to grow 3.6% and 3.7% respectively during the current fiscal year.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Downside risks:<\/strong> The war could take a heavier toll on the economy if it spills into other countries in the region, to which BMI assigns a 40% probability. \u201cThis would result in a more pronounced slowdown in investment activity, reduce travel and tourism receipts, lead to a more prolonged disruption to gas exports, increase oil prices, and lead to a higher import bill,\u201d the report says.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>More from BMI:<\/strong><\/p>\n<ul>\n<li><strong>EGP could weaken 45% against the USD by March:<\/strong> The EGP is expected to weaken to 40-45 \/ USD by the end of 1Q 2024 following the central bank\u2019s anticipated currency devaluation, which BMI expects to take place in February.<\/li>\n<li><strong>Major rate hikes ahead:<\/strong> BMI expects the central bank to hold off on further interest rate hikes until 2024, when it expects rates to rise by 300 bps during the first six months of the year in the wake of the devaluation.<\/li>\n<li><strong>Inflation to temper thanks to the base effect:<\/strong> Inflation is expected to cool to an average of 27.4% y-o-y in 2024 from 34.1% this year, as a favorable base effect outweighs the inflationary impact of the devaluation.<\/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\/economy\/\">economy<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/fitch\/\">Fitch<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/foreign-exchange\/\">foreign exchange<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/inflation\/\">inflation<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/interest-rates\/\">interest rates<\/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\/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=\"610568\" 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=\"610568\">\r\n            \r\n                <div class=\"issue-story-header text-center\">\r\n                    <div class=\"index-number\">4<\/div>\r\n\r\n                    <p class=\"f-graphik\">DEBT WATCH<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2023\/11\/22\/emirates-nbd-egypt-signs-eur-30-mn-loan-agreement-with-hayat-egypt\/\">\r\n                            Emirates NBD Egypt signs EUR 30 mn loan agreement with Hayat 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\/22\/emirates-nbd-egypt-signs-eur-30-mn-loan-agreement-with-hayat-egypt\/\" target=\"_blank\">\n                    Open in new tab                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/new-tab.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a href=\"#\" target=\"_blank\" onclick=\"event.preventDefault(); navigator.clipboard.writeText('https:\/\/enterpriseam.com\/egypt\/2023\/11\/22\/emirates-nbd-egypt-signs-eur-30-mn-loan-agreement-with-hayat-egypt\/')\">\n                    Copy Link                <\/a>\n\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a target=\"_blank\" href=\"https:\/\/www.facebook.com\/sharer.php?u=https:\/\/enterpriseam.com\/egypt\/2023\/11\/22\/emirates-nbd-egypt-signs-eur-30-mn-loan-agreement-with-hayat-egypt\/\">\n                    Facebook                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/facebook-icon2.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a target=\"_blank\" href=\"https:\/\/x.com\/intent\/post?text=Emirates NBD Egypt signs EUR 30 mn loan agreement with Hayat Egypt&url=https:\/\/enterpriseam.com\/egypt\/2023\/11\/22\/emirates-nbd-egypt-signs-eur-30-mn-loan-agreement-with-hayat-egypt\/\">\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\/22\/emirates-nbd-egypt-signs-eur-30-mn-loan-agreement-with-hayat-egypt\/&title=Emirates NBD Egypt signs EUR 30 mn loan agreement with Hayat Egypt\">\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=Emirates+NBD+Egypt+signs+EUR+30+mn+loan+agreement+with+Hayat+Egypt+https%3A%2F%2Fenterpriseam.com%2Fegypt%2F2023%2F11%2F22%2Femirates-nbd-egypt-signs-eur-30-mn-loan-agreement-with-hayat-egypt%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\/22\/emirates-nbd-egypt-signs-eur-30-mn-loan-agreement-with-hayat-egypt\/\">\r\n                    <div class=\"photo photo--above\">\r\n                        <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2023\/11\/1218.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"610569\" data-permalink=\"https:\/\/enterpriseam.com\/egypt\/2023\/11\/22\/emirates-nbd-egypt-signs-eur-30-mn-loan-agreement-with-hayat-egypt\/1218-jpg-4\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2023\/11\/1218.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"1218.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2023\/11\/1218.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2023\/11\/1218.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-610568\" class=\"content-area-description single-story post-610568 post type-post status-publish format-standard has-post-thumbnail hentry category-debt-watch tag-debt-watch tag-emirates-nbd tag-enterpriseam tag-hayat tag-manufacturing tag-turkey 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\/.d9b5b0b1-815a-46dd-9f25-07d1324d148c.mp3\"><\/audio><\/figure>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"> <strong>Turkey\u2019s Hayat is borrowing to expand in Egypt:<\/strong> Emirates NBD Egypt has signed a EUR 30 mn medium-term loan agreement with Turkish sanitary product company <a target=\"_blank\" href=\"https:\/\/www.hayat.com\/en-tr\/\" style=\"\" rel=\"noopener\">Hayat\u2019s<\/a> local subsidiary Hayat Egypt to help it finance a new USD 70 mn tissue factory in Ain Sokhna, the lender said in a <a target=\"_blank\" href=\"https:\/\/ent.news\/2023\/11\/1135.pdf\" style=\"\" rel=\"noopener\">statement (pdf)<\/a> Monday. No further details about the loan were provided.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>ICYMI- <\/strong>We first <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/8538fab0-92d9-4745-8e06-ed30bf2b0923\" style=\"\" rel=\"noopener\">got wind<\/a> of the planned Hayat tissue factory last month during a trade delegation trip to Turkey to drum up investments. Hayat also talked up the possibility of a USD 35 million industrial detergents plant, a diaper facility of an unspecified size, and of opening a paper factory that uses our abundant date palms as the main raw material.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>This is good news for Egypt\u2019s exports: <\/strong>Hayat Egypt\u2019s new tissue plant will be a \u201cexportation hub of Hayat in the region\u201d that \u201c100% serve[s]\u201d exports and will contribute USD 80 mn to our annual export tally, according to Hayat Egypt\u2019s general manager Senol Keserlioglu. The new factory is also set to create 80 new direct jobs. The statement did not give a date for when we can expect to see the factory up and running, but Keserlioglu said earlier this month that the company had a new factory in the works set to <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/01c1d323-33d2-4a22-a2c8-003fb5759698\" style=\"\" rel=\"noopener\">open<\/a> in late 2024 and another in 2025.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>We knew that some Hayat investments were in the pipeline:<\/strong> Earlier this month, local media reported that the company was boosting its Egyptian subsidiary\u2019s capital 20% to USD 200 mn and would invest a further USD 120 mn in its operations here by the end of 2025. In July, <strong>w<\/strong>e also heard that the Turkish sanitary products company was <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/33e9d3bf-8468-4f46-a38f-4e4ab0370bee\" style=\"\" rel=\"noopener\">planning<\/a> to pump in USD 210 mn to establish three additional production lines in Egypt. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Hayat ain't new to the Egyptian market:<\/strong> Hayat already employs 1.5k people and has invested a total of USD 550 mn in its operations here. And you\u2019ve probably seen or bought many of their products, which include Molfix baby diapers, Molped feminine care products, Papia toilet tissues, and Familia tissues.<\/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\/debt-watch\/\">debt watch<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/emirates-nbd\/\">Emirates NBD<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/hayat\/\">Hayat<\/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\/turkey\/\">Turkey<\/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=\"610570\" 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=\"610570\">\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\">Kudos<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2023\/11\/22\/vodafone-goes-high-tech-and-low-carbon-with-new-data-center-upgrade\/\">\r\n                            Vodafone goes high tech and low carbon with new data center upgrade                        <\/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\/22\/vodafone-goes-high-tech-and-low-carbon-with-new-data-center-upgrade\/\" target=\"_blank\">\n                    Open in new tab                    <!-- <img decoding=\"async\" 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class=\"list-inline-item\">\n                <a href=\"https:\/\/api.whatsapp.com\/send?text=Vodafone+goes+high+tech+and+low+carbon+with+new+data+center+upgrade+https%3A%2F%2Fenterpriseam.com%2Fegypt%2F2023%2F11%2F22%2Fvodafone-goes-high-tech-and-low-carbon-with-new-data-center-upgrade%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\/22\/vodafone-goes-high-tech-and-low-carbon-with-new-data-center-upgrade\/\">\r\n                    <div class=\"photo photo--above\">\r\n                        <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2023\/11\/1215.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"610571\" data-permalink=\"https:\/\/enterpriseam.com\/egypt\/2023\/11\/22\/vodafone-goes-high-tech-and-low-carbon-with-new-data-center-upgrade\/1215-jpg-9\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2023\/11\/1215.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"1215.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2023\/11\/1215.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2023\/11\/1215.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-610570\" class=\"content-area-description single-story post-610570 post type-post status-publish format-standard has-post-thumbnail hentry category-kudos tag-cit tag-data-centers tag-enterpriseam tag-kudos tag-vodafone-egypt 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\/.38a59e0e-83f1-476b-9783-5438b4073c97.mp3\"><\/audio><\/figure>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Vodafone\u2019s data center is getting an emissions-reducing upgrade: <\/strong>Our friends at telecoms giant Vodafone Egypt will soon integrate immersion cooling technology, a pioneering method that slashes energy waste generated from thermal heating, in its data center, the company said in <a target=\"_blank\" href=\"https:\/\/www.linkedin.com\/feed\/update\/urn:li:activity:7132018929006227456\/\" style=\"\" rel=\"noopener\">a LinkedIn<\/a> post this week. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>AUC young entrepreneurs score gold at a regional fintech competition held in<\/strong><strong> Dubai<\/strong>: A team of AUC students were the winners of an Arab fintech competition initiated by the Central Bank of Egypt for their gamified saving app for Egypt\u2019s youth, according to a recent <a target=\"_blank\" href=\"https:\/\/ent.news\/2023\/11\/1214.pdf\" style=\"\" rel=\"noopener\">statement (pdf)<\/a> from the university.<\/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\/cit\/\">CIT<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/data-centers\/\">Data Centers<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/kudos\/\">KUDOS<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/vodafone-egypt\/\">Vodafone Egypt<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                    <\/div>\n    <\/div>\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"610572\" 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=\"610572\">\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\">Moves<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2023\/11\/22\/ingy-agha-named-head-of-internal-audit-at-hsbc-bank-egypt\/\">\r\n                            Ingy Agha named head of internal audit at HSBC Bank 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\/22\/ingy-agha-named-head-of-internal-audit-at-hsbc-bank-egypt\/\" target=\"_blank\">\n                    Open in new tab                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/new-tab.svg\" 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audit at HSBC Bank Egypt&url=https:\/\/enterpriseam.com\/egypt\/2023\/11\/22\/ingy-agha-named-head-of-internal-audit-at-hsbc-bank-egypt\/\">\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\/22\/ingy-agha-named-head-of-internal-audit-at-hsbc-bank-egypt\/&title=Ingy Agha named head of internal audit at HSBC Bank Egypt\">\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=Ingy+Agha+named+head+of+internal+audit+at+HSBC+Bank+Egypt+https%3A%2F%2Fenterpriseam.com%2Fegypt%2F2023%2F11%2F22%2Fingy-agha-named-head-of-internal-audit-at-hsbc-bank-egypt%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\/22\/ingy-agha-named-head-of-internal-audit-at-hsbc-bank-egypt\/\">\r\n                    <div class=\"photo photo--above\">\r\n                        <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2023\/11\/1228.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"610573\" data-permalink=\"https:\/\/enterpriseam.com\/egypt\/2023\/11\/22\/ingy-agha-named-head-of-internal-audit-at-hsbc-bank-egypt\/1228-jpg-6\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2023\/11\/1228.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"1228.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2023\/11\/1228.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2023\/11\/1228.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-610572\" class=\"content-area-description single-story post-610572 post type-post status-publish format-standard has-post-thumbnail hentry category-moves tag-enterpriseam tag-hsbc tag-ingy-agha 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\/.42d4d4d5-3352-41b3-9ba1-206d35735f7e.mp3\"><\/audio><\/figure>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\">Our friend <strong>Ingy Agha<\/strong> (<a target=\"_blank\" href=\"https:\/\/eg.linkedin.com\/in\/ingy-agha-20b42956\" style=\"\" rel=\"noopener\">LinkedIn<\/a>), a 24-year veteran of <strong>HSBC Egypt<\/strong>, has been named the bank\u2019s <strong>head of <\/strong><strong>internal audit<\/strong>, making her one of a very small handful of female leaders to hold the post in our banking system. Ingy has previously served in a number of senior governance and risk-management roles, including corporate governance and secretariat, audit, and compliance. As head of internal audit, she will be responsible for leading the team that \u201cassess and monitors the bank\u2019s risk management process, internal, controls and compliance with regulatory requirements,\u201d HSBC said. <\/p>\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/hsbc\/\">HSBC<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/ingy-agha\/\">Ingy Agha<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/moves\/\">moves<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                    <\/div>\n    <\/div>\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"610574 advertiser\" class=\"issue-section enterprise-adv\">\n<div class=\"issue-section__content\">\n<div class=\"stories\">            <!-- Show divider before story section -->\r\n        <div \r\n            class=\"\r\n                            \"\r\n            id=\"610574\">\r\n            \r\n            <div class=\"story__body\">\r\n\r\n                <a href=\"https:\/\/enterpriseam.com\/egypt\/2023\/11\/22\/610574\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-610574\" class=\"content-area-description single-story post-610574 post type-post status-publish format-standard hentry category-advertiser wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<p><span style=\"font-weight:400;\"><a href=\"https:\/\/www.sodic.com\/SodicSignatureCommunities#THEESTATESResidences\" target=\"_blank\" rel=\"noopener\"><img data-recalc-dims=\"1\" decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2023\/10\/415.jpg?ssl=1\"><\/a><\/span><\/p>\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"610575\" 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=\"610575\">\r\n            \r\n                <div class=\"issue-story-header text-center\">\r\n                    <div class=\"index-number\">7<\/div>\r\n\r\n                    <p class=\"f-graphik\">LAST NIGHT\u2019S TALK SHOWS<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2023\/11\/22\/gaza-hostage-agreement-dominated-last-nights-talk-show-coverage\/\">\r\n                            Gaza hostage agreement dominated last night\u2019s talk show coverage 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\/22\/gaza-hostage-agreement-dominated-last-nights-talk-show-coverage\/\" 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\/22\/gaza-hostage-agreement-dominated-last-nights-talk-show-coverage\/')\">\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\/22\/gaza-hostage-agreement-dominated-last-nights-talk-show-coverage\/\">\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=Gaza hostage agreement dominated last night\u2019s talk show coverage&url=https:\/\/enterpriseam.com\/egypt\/2023\/11\/22\/gaza-hostage-agreement-dominated-last-nights-talk-show-coverage\/\">\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\/22\/gaza-hostage-agreement-dominated-last-nights-talk-show-coverage\/&title=Gaza hostage agreement dominated last night\u2019s talk show coverage\">\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=Gaza+hostage+agreement+dominated+last+night%E2%80%99s+talk+show+coverage+https%3A%2F%2Fenterpriseam.com%2Fegypt%2F2023%2F11%2F22%2Fgaza-hostage-agreement-dominated-last-nights-talk-show-coverage%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\/22\/gaza-hostage-agreement-dominated-last-nights-talk-show-coverage\/\">\r\n                    <div class=\"photo photo--above\">\r\n                        <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2023\/11\/1236.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"610576\" data-permalink=\"https:\/\/enterpriseam.com\/egypt\/2023\/11\/22\/gaza-hostage-agreement-dominated-last-nights-talk-show-coverage\/1236-jpg-5\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2023\/11\/1236.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"1236.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2023\/11\/1236.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2023\/11\/1236.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-610575\" class=\"content-area-description single-story post-610575 post type-post status-publish format-standard has-post-thumbnail hentry category-last-nights-talk-shows tag-enterpriseam tag-israel-palestine-conflict tag-last-nights-talk-shows 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\/.110d4365-1053-4abf-937f-c6358735ecfe.mp3\"><\/audio><\/figure>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Gaza is once again dominating the airwaves <\/strong>with the nation\u2019s talking heads focusing on the upcoming hostage agreement and Prime Minister Madbouly facing questions from the House of Representatives on how Egypt is handling the war on Gaza. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>A hostage agreement is imminent: <\/strong>After weeks of negotiations, Hamas and Israel look like they have finalized a hostage agreement which will see the release of both Palestinains and Israelis held captive, Israel allowing more aid into the enclave, and a multi-day truce. Palestinian political science professor Ayman Al Raqab joined Kelma Akhira\u2019s Lamees (<a target=\"_blank\" href=\"https:\/\/www.youtube.com\/watch?v=I3pe8tpKQUc\" style=\"\" rel=\"noopener\">watch, runtime: 6:03<\/a>) to share the details of the agreements, while Yahduth Fi Masr interviewed Hamas official Ghazi Hamad (<a target=\"_blank\" href=\"https:\/\/www.youtube.com\/watch?v=QUn8GkBLSwU\" style=\"\" rel=\"noopener\">watch, runtime: 3:25<\/a>) on the matter. Ala Maso\u2019uleety (<a target=\"_blank\" href=\"https:\/\/www.youtube.com\/watch?v=5h4wSUbU50c\" style=\"\" rel=\"noopener\">watch, runtime: 7:43<\/a>) and Masa\u2019a DMC (<a target=\"_blank\" href=\"https:\/\/www.facebook.com\/watch\/?v=1392807684922472\" style=\"\" rel=\"noopener\">watch, runtime: 1:44<\/a>) also had coverage. We have the full details in this morning\u2019s War Watch, above.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Madbouly faces MPs: <\/strong>Prime Minister Moustafa Madbouly yesterday faced MPs and their questions about the measures being taken by the government to prevent Israel from forcibly displacing Palestenians into Sinai. Madbouly said that his government \u201cwill never allow\u201d Israel to push Gazans into Egypt and destabilize its national security. Madbouly\u2019s comments received wide coverage in last night\u2019s talk shows, with Kelma Akhira (<a target=\"_blank\" href=\"https:\/\/www.youtube.com\/watch?v=lP-aufgXh5o\" style=\"\" rel=\"noopener\">watch, runtime: 6:01<\/a>), Ala Maso\u2019uleety (<a target=\"_blank\" href=\"https:\/\/www.youtube.com\/watch?v=p8J0-AIw6kI\" style=\"\" rel=\"noopener\">watch, runtime: 4:33<\/a>), Masa\u2019a DMC (<a target=\"_blank\" href=\"https:\/\/www.facebook.com\/watch\/?v=989733912100260\" style=\"\" rel=\"noopener\">watch, runtime: 9:09<\/a>), and Al Hayah Al Youm (<a target=\"_blank\" href=\"https:\/\/www.youtube.com\/watch?v=_y82ZdASBhw\" style=\"\" rel=\"noopener\">watch, runtime: 4:24<\/a>) all giving the story airtime. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Abou El Enein in Washington: <\/strong>MP and Cleopatra Group founder Mohamed Abou El Enein reiterating Egypt\u2019s stance on the situation in Gaza and the Israeli plan to resettle displaced Gazans in Sinai in Washington yesterday during the National Council on US-Arab Relations. Al Maso\u2019uleety had coverage (<a target=\"_blank\" href=\"https:\/\/www.youtube.com\/watch?v=kznp6j25Cuo\" style=\"\" rel=\"noopener\">watch, runtime: 17:46<\/a>). <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>ALSO- Gov\u2019t believes soaring gold prices will cool off.<\/strong>Supply Minister official Nagy Farag called in to Kelma Akhira (<a target=\"_blank\" href=\"https:\/\/www.youtube.com\/watch?v=k9mc37Clqy4\" style=\"\" rel=\"noopener\">watch, runtime: 3:28<\/a>) to voice his belief that gold prices will see a slight drop on the back of cooling global gold prices and an <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/5eebc811-7a6e-4798-ad07-f7d9fc6192ea\" style=\"\" rel=\"noopener\">uptick<\/a> of Egyptians bringing in gold from abroad after recently <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/d9ae3f49-e54e-43cd-8ef9-0e66e90ff04d\" style=\"\" rel=\"noopener\">introduced<\/a> customs rules. In case you missed it, gold prices have been hitting never-before-seen highs as Egyptians rush to buy the precious metal as a hedge against a weakening EGP and a looming devaluation rumored for the start of next year. The price of 24-carat gold has now climbed above EGP 3,200 per gram. <\/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                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/last-nights-talk-shows\/\">LAST NIGHT\u2019S TALK SHOWS<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                    <\/div>\n    <\/div>\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"610577\" class=\"issue-section \">\n<div class=\"issue-section__content\">\n<div class=\"stories\">      \r\n<section id=\"advertiser\" class=\"enterprise-adv issue-section\">\r\n    <div class=\"issue-section__content\" style=\"flex-direction: column;\">\r\n  \r\n                <h4 class=\"wp-block-heading has-text-align-center has-normal-font-size\">\r\n                <span class=\"has-primary-color stk-highlight\">This publication is proudly sponsored by<\/span><\/h4>\r\n                \r\n\r\n                \r\n                <div class=\"wp-block-stackable-carousel alignwide stk-block-carousel stk--is-slide stk--infinite-scroll stk--arrows-justify-space-between stk--arrows-align-center stk-block stk-a38cfb2 sponsor-slider-container mb-0\" data-slides-to-show=\"3\" data-block-id=\"a38cfb2\"><style>.stk-a38cfb2 {--slides-to-show:3 !important;}.stk-a38cfb2 .stk-block-carousel__button{background:#00000099 !important;fill:#FFFFFF !important;border-radius:4px !important;}.stk-a38cfb2 .stk-block-carousel__button svg.ugb-custom-icon :is(g, path, rect, polygon, ellipse){fill:#FFFFFF !important;}<\/style>\r\n                <div class=\"stk-block-carousel__content-wrapper\">\r\n                <div class=\"stk-row stk-inner-blocks stk-block-content stk-block-carousel__slider-wrapper stk-content-align stk-a38cfb2-column alignwide\">\r\n                <div class=\"stk-block-carousel__slider\" role=\"list\" data-autoplay=\"4000\" data-label-slide-of=\"Slide %%d of %%d\">\r\n            <div class=\"wp-block-stackable-column stk-block-column stk-column stk-block stk-46c5f99\" data-v=\"4\" data-block-id=\"46c5f99\"><div class=\"stk-column-wrapper stk-block-column__content stk-container stk-46c5f99-container stk--no-background stk--no-padding\"><div class=\"stk-block-content stk-inner-blocks stk-46c5f99-inner-blocks\">\r\n            <div class=\"issue-sponsor-slide\">\r\n                <img data-recalc-dims=\"1\" decoding=\"async\" draggable=\"false\" src=\"https:\/\/i0.wp.com\/ent.news\/internal\/240922.png?ssl=1\">\r\n                <div class=\"overlay\"><\/div>\r\n                <div class=\"content\">\r\n                    <a draggable=\"false\" href=\"https:\/\/www.hsbc.com.eg\/\" target=\"_blank\" class=\"logo\" rel=\"noopener\">\r\n                        <img decoding=\"async\" draggable=\"false\" src=\"https:\/\/ent.news\/internal\/27489.svg\" alt=\"\">\r\n                    <\/a>\r\n                    <span>Opening up a world of opportunity<\/span>\r\n                <\/div>\r\n            <\/div>\r\n            <\/div><\/div><\/div>\r\n        \r\n            <div class=\"wp-block-stackable-column stk-block-column stk-column stk-block stk-47hfpey\" data-v=\"4\" data-block-id=\"47hfpey\"><div class=\"stk-column-wrapper stk-block-column__content stk-container stk-47hfpey-container stk--no-background stk--no-padding\"><div class=\"stk-block-content stk-inner-blocks stk-47hfpey-inner-blocks\">\r\n            <div class=\"issue-sponsor-slide\">\r\n                <img data-recalc-dims=\"1\" decoding=\"async\" draggable=\"false\" src=\"https:\/\/i0.wp.com\/ent.news\/internal\/240923.png?ssl=1\">\r\n                <div class=\"overlay\"><\/div>\r\n                <div class=\"content\">\r\n                    <a draggable=\"false\" href=\"https:\/\/efghldg.com\/en\" target=\"_blank\" class=\"logo\" rel=\"noopener\">\r\n                        <img decoding=\"async\" draggable=\"false\" src=\"https:\/\/ent.news\/internal\/27488.svg\" alt=\"\">\r\n                    <\/a>\r\n                    <span>Realize More<\/span>\r\n                <\/div>\r\n            <\/div>\r\n            <\/div><\/div><\/div>\r\n        \r\n            <div class=\"wp-block-stackable-column stk-block-column stk-column stk-block stk-bytcta7\" data-v=\"4\" data-block-id=\"bytcta7\"><div class=\"stk-column-wrapper stk-block-column__content stk-container stk-bytcta7-container stk--no-background stk--no-padding\"><div class=\"stk-block-content stk-inner-blocks stk-bytcta7-inner-blocks\">\r\n            <div class=\"issue-sponsor-slide\">\r\n                <img data-recalc-dims=\"1\" decoding=\"async\" draggable=\"false\" src=\"https:\/\/i0.wp.com\/ent.news\/internal\/240924.png?ssl=1\">\r\n                <div class=\"overlay\"><\/div>\r\n                <div class=\"content\">\r\n                    <a draggable=\"false\" href=\"https:\/\/www.sodic.com\/\" target=\"_blank\" class=\"logo\" rel=\"noopener\">\r\n                        <img decoding=\"async\" draggable=\"false\" src=\"https:\/\/ent.news\/internal\/27487.svg\" alt=\"\">\r\n                    <\/a>\r\n                    <span>Live More<\/span>\r\n                <\/div>\r\n            <\/div>\r\n            <\/div><\/div><\/div>\r\n        \r\n            <div class=\"wp-block-stackable-column stk-block-column stk-column stk-block stk-lyjxsgw\" data-v=\"4\" data-block-id=\"lyjxsgw\"><div class=\"stk-column-wrapper stk-block-column__content stk-container stk-lyjxsgw-container stk--no-background stk--no-padding\"><div class=\"stk-block-content stk-inner-blocks stk-lyjxsgw-inner-blocks\">\r\n            <div class=\"issue-sponsor-slide\">\r\n                <img data-recalc-dims=\"1\" decoding=\"async\" draggable=\"false\" src=\"https:\/\/i0.wp.com\/ent.news\/internal\/240925.png?ssl=1\">\r\n                <div class=\"overlay\"><\/div>\r\n                <div class=\"content\">\r\n                    <a draggable=\"false\" href=\"https:\/\/weareinfinity.com\/\" target=\"_blank\" class=\"logo\" rel=\"noopener\">\r\n                        <img decoding=\"async\" draggable=\"false\" src=\"https:\/\/i0.wp.com\/ent.news\/internal\/27483.png?fit=300%2C300&#038;ssl=1\" alt=\"\">\r\n                    <\/a>\r\n                    <span>Powering with nature<\/span>\r\n                <\/div>\r\n            <\/div>\r\n            <\/div><\/div><\/div>\r\n        \r\n            <div class=\"wp-block-stackable-column stk-block-column stk-column stk-block stk-27ox8v7\" data-v=\"4\" data-block-id=\"27ox8v7\"><div class=\"stk-column-wrapper stk-block-column__content stk-container stk-27ox8v7-container stk--no-background stk--no-padding\"><div class=\"stk-block-content stk-inner-blocks stk-27ox8v7-inner-blocks\">\r\n            <div class=\"issue-sponsor-slide\">\r\n                <img data-recalc-dims=\"1\" decoding=\"async\" draggable=\"false\" src=\"https:\/\/i0.wp.com\/ent.news\/internal\/240926.jpg?ssl=1\">\r\n                <div class=\"overlay\"><\/div>\r\n                <div class=\"content\">\r\n                    <a draggable=\"false\" href=\"https:\/\/www.qalaaholdings.com\/\" target=\"_blank\" class=\"logo\" rel=\"noopener\">\r\n                        <img decoding=\"async\" draggable=\"false\" src=\"https:\/\/ent.news\/internal\/110691.svg\" alt=\"\">\r\n                    <\/a>\r\n                    <span>Driving growth<\/span>\r\n                <\/div>\r\n            <\/div>\r\n            <\/div><\/div><\/div>\r\n        <\/div><div class=\"stk-block-carousel__buttons\"><button class=\"stk-block-carousel__button stk-block-carousel__button__prev\" aria-label=\"Previous slide\"><svg aria-hidden=\"true\" focusable=\"false\" data-prefix=\"fas\" data-icon=\"chevron-left\" class=\"svg-inline--fa fa-chevron-left\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" viewBox=\"0 0 320 512\" width=\"32\" height=\"32\"><path d=\"M34.52 239.03L228.87 44.69c9.37-9.37 24.57-9.37 33.94 0l22.67 22.67c9.36 9.36 9.37 24.52.04 33.9L131.49 256l154.02 154.75c9.34 9.38 9.32 24.54-.04 33.9l-22.67 22.67c-9.37 9.37-24.57 9.37-33.94 0L34.52 272.97c-9.37-9.37-9.37-24.57 0-33.94z\"><\/path><\/svg><\/button><button class=\"stk-block-carousel__button stk-block-carousel__button__next\" aria-label=\"Next slide\"><svg aria-hidden=\"true\" focusable=\"false\" data-prefix=\"fas\" data-icon=\"chevron-right\" class=\"svg-inline--fa fa-chevron-right\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" viewBox=\"0 0 320 512\" width=\"32\" height=\"32\"><path d=\"M285.476 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Radar<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2023\/11\/22\/save-the-date-saudi-investments-are-on-their-way-plus-news-from-ingram-micro-telecom-egypt-valu-and-eib\/\">\r\n                            Save the date, Saudi investments are on their way. PLUS: News from Ingram Micro, Telecom Egypt, Valu, and EIB                        <\/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\/22\/save-the-date-saudi-investments-are-on-their-way-plus-news-from-ingram-micro-telecom-egypt-valu-and-eib\/\" 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\/22\/save-the-date-saudi-investments-are-on-their-way-plus-news-from-ingram-micro-telecom-egypt-valu-and-eib\/')\">\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\/22\/save-the-date-saudi-investments-are-on-their-way-plus-news-from-ingram-micro-telecom-egypt-valu-and-eib\/\">\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=Save the date, Saudi investments are on their way. 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PLUS: News from Ingram Micro, Telecom Egypt, Valu, and EIB\">\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=Save+the+date%2C+Saudi+investments+are+on+their+way.+PLUS%3A+News+from+Ingram+Micro%2C+Telecom+Egypt%2C+Valu%2C+and+EIB+https%3A%2F%2Fenterpriseam.com%2Fegypt%2F2023%2F11%2F22%2Fsave-the-date-saudi-investments-are-on-their-way-plus-news-from-ingram-micro-telecom-egypt-valu-and-eib%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\/22\/save-the-date-saudi-investments-are-on-their-way-plus-news-from-ingram-micro-telecom-egypt-valu-and-eib\/\">\r\n                    <div class=\"photo photo--above\">\r\n                        <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2023\/11\/1223.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"610579\" data-permalink=\"https:\/\/enterpriseam.com\/egypt\/2023\/11\/22\/save-the-date-saudi-investments-are-on-their-way-plus-news-from-ingram-micro-telecom-egypt-valu-and-eib\/1223-jpg-3\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2023\/11\/1223.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"1223.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2023\/11\/1223.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2023\/11\/1223.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-610578\" class=\"content-area-description single-story post-610578 post type-post status-publish format-standard has-post-thumbnail hentry category-also-on-our-radar tag-also-on-our-radar tag-energy tag-enterpriseam tag-european-investment-bank tag-fintech tag-infrastructure tag-ingram-micro tag-investment-watch tag-kazyon tag-madinet-masr tag-petronas tag-saudi-egyptian-business-council tag-telecom-egypt tag-valu 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\/.f95e80ce-2bbd-40a7-821b-87ce4fa61293.mp3\"><\/audio><\/figure><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>INVESTMENT-<\/strong><\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"> <strong>More Saudi investments incoming: <\/strong>Saudi\u2019s <a target=\"_blank\" href=\"https:\/\/alkraida.com.sa\/\" style=\"\" rel=\"noopener\">Al Kraida Dates<\/a> is looking to set up a 10k sqm date factory in Egypt beginning of 2024, chairman Abdul Rahman Al Kraida told Asharq Business (<a target=\"_blank\" href=\"https:\/\/twitter.com\/AsharqbEGY\/status\/1726963858592477488?s=20\" style=\"\" rel=\"noopener\">watch, runtime: 3:12<\/a>) on the sidelines of the Saudi-Egyptian Business Council. The factory will target the local market during its first year of operations before expanding into exports. The company has also acquired 800 feddans to cultivate. <\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>** We dive into all things date production industry <\/strong>in an <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/9cda8121-418f-448d-a01b-b354cb765a24\" style=\"\" rel=\"noopener\">Inside Industry<\/a> published earlier this year. <\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>INVESTMENT-<\/strong><\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Ingram Micro<\/strong><strong> wants to expand presence in Egypt:<\/strong> American tech distributor <a target=\"_blank\" href=\"https:\/\/ingrammicroegypt.com\/\" style=\"\" rel=\"noopener\">Ingram<\/a><a target=\"_blank\" href=\"https:\/\/ingrammicroegypt.com\/\" style=\"\" rel=\"noopener\">Micro<\/a> wants to invest some USD 60 mn in the Egyptian market in 2024, the company\u2019s country director Mohammed Selim told <a target=\"_blank\" href=\"https:\/\/bit.ly\/3MTKoMZ\" style=\"\" rel=\"noopener\">Al Mal<\/a>. The company brands itself as the \u201cleading technology distributor with a wide network of resellers across Egypt,\u201d the company\u2019s Egyptian operations account for 80% of its operations in the region.The company offers a number of data center solutions, servers, storage, cyber security, networking, and infrastructure software. <\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>INFRASTRUCTURE- <\/strong><\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Better telecom services for Madinet Masr residents: <\/strong>Telecom Egypt will start providing Madinet Masr real estate projects with integrated telecom and \u201csmart city\u201d services, under a cooperation protocol inked between the two sides, the real estate developer said in a <a target=\"_blank\" href=\"https:\/\/ent.news\/2023\/11\/1208.pdf\" style=\"\" rel=\"noopener\">statement (pdf)<\/a>. The services will cover landlines, high-speed Internet, and IPTV (Internet Protocol television) broadcast services, public WiFi, and phone signal.<\/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>Copetrole x Petronas: <\/strong>The Egyptian General Petroleum Corporation\u2019s (EGPC) Cooperation Petroleum Company (Copetrole) and Malaysia\u2019s Petronas will exchange expertise and boost cooperation under a cooperation agreement inked between the two sides, the Oil Ministry said in a <a target=\"_blank\" href=\"https:\/\/bit.ly\/3QPzIQt\" style=\"\" rel=\"noopener\">statement<\/a>. The Malaysian energy company also expressed interest in making Egypt its regional export hub.<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>FINTECH-<\/strong><\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Valu teams up with Kazyon:<\/strong> Homegrown fintech platform Valu will start offering shoppers at supermarket chain Kazyon financing solutions and BNPL services, under a strategic partnership inked between the two sides, Valu said in a <a target=\"_blank\" href=\"https:\/\/ent.news\/2023\/11\/1153.pdf\" style=\"\" rel=\"noopener\">press release<\/a><a target=\"_blank\" href=\"https:\/\/ent.news\/2023\/11\/1153.pdf\" style=\"\" rel=\"noopener\">(pdf)<\/a>.<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>FINANCE-<\/strong><\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>EIB sets up MENA hub in Cairo:<\/strong> The European Investment Bank (EIB) yesterday inaugurated a new regional hub in Cairo, which aims to facilitate and bolster the bank\u2019s cooperation with its partners in the MENA region, it said in a <a target=\"_blank\" href=\"https:\/\/tinyurl.com\/thd2um9k\" style=\"\" rel=\"noopener\">press release<\/a>. \u201cStrengthening the local presence of EIB Global is crucial to better address investment challenges and increase the impact of engagement with public and private investment partners,\u201d said EIB Vice President Gelsomina Vigliotti.<\/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\/energy\/\">energy<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/european-investment-bank\/\">European Investment Bank<\/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\/infrastructure\/\">infrastructure<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/ingram-micro\/\">Ingram Micro<\/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\/kazyon\/\">Kazyon<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/madinet-masr\/\">Madinet Masr<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/petronas\/\">Petronas<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/saudi-egyptian-business-council\/\">Saudi-Egyptian Business Council<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/telecom-egypt\/\">Telecom Egypt<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/valu\/\">ValU<\/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=\"610580\" 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=\"610580\">\r\n            \r\n                <div class=\"issue-story-header text-center\">\r\n                    <div class=\"index-number\">9<\/div>\r\n\r\n                    <p class=\"f-graphik\">PLANET FINANCE<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2023\/11\/22\/dubai-taxi-ipo-oversubscribed-in-60-minutes\/\">\r\n                            Dubai Taxi set to raise USD 315 mn in IPO                        <\/a>\r\n                    <\/h3>\r\n\r\n                    \r\n\t\t\t\t\t\n<div class=\"cta\">\n    <div class=\"cta__btn share-dropdown-cta dropdown-toggle-btn\" style=\"position:relative\">\n        <img decoding=\"async\" src=\"https:\/\/ent.news\/internal\/408834.svg\" alt=\"\">\n        Share Story\n        <!-- Dropdown Menu -->\n        <ul class=\"share-menu\">\n            <li class=\"list-inline-item\">\n                <a href=\"https:\/\/enterpriseam.com\/egypt\/2023\/11\/22\/dubai-taxi-ipo-oversubscribed-in-60-minutes\/\" target=\"_blank\">\n                    Open in new tab                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/new-tab.svg\" alt=\"\"> -->\n                <\/a>\n   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data-permalink=\"https:\/\/enterpriseam.com\/egypt\/2023\/11\/22\/dubai-taxi-ipo-oversubscribed-in-60-minutes\/1139-jpg-3\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2023\/11\/1139.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"1139.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2023\/11\/1139.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2023\/11\/1139.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-610580\" class=\"content-area-description single-story post-610580 post type-post status-publish format-standard has-post-thumbnail hentry category-planet-finance tag-dfm tag-dubai-taxi-company tag-enterpriseam tag-ipo-watch tag-mena-ipos tag-planet-finance wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<aside>\t\t\t<div\r\n\t\t\t\t\t\t\t\tclass=\"newspack-popup-container newspack-popup hidden  newspack-inline-popup  newspack-lightbox-no-border   \"\r\n\t\t\t\trole=\"button\"\r\n\t\t\t\ttabindex=\"0\"\r\n\t\t\t\tstyle=\"background-color:#FFFFFF;color:#000\"\r\n\t\t\t\tid=\"id_408150\"\r\n\t\t\t\tdata-segments=\"\"\r\n\t\t\t\tdata-frequency=\"0,0,0,month\"\r\n\t\t\t>\r\n\t\t\t\t\n<div class=\"wp-block-group has-light-gray-background-color has-background\" style=\"padding-top:0px;padding-right:0px;padding-bottom:0px;padding-left:0px\"><div class=\"wp-block-group__inner-container is-layout-constrained wp-container-core-group-is-layout-ef38739e wp-block-group-is-layout-constrained\">\n<div class=\"wp-block-group is-content-justification-center is-nowrap is-layout-flex wp-container-core-group-is-layout-94bc23d7 wp-block-group-is-layout-flex\"><div class=\"wp-block-image\">\n<figure class=\"aligncenter size-full\"><img decoding=\"async\" src=\"https:\/\/ent.news\/internal\/408151.svg\" alt=\"\" class=\"wp-image-408151\"\/><\/figure>\n<\/div><\/div>\n<\/div><\/div>\n\t\t\t<\/div>\r\n\t\t<\/aside>\n<figure class=\"wp-block-audio mb-0\"><audio controls preload=\"metadata\" src=\"https:\/\/s3.us-east-1.amazonaws.com\/ent.news\/audio\/2023\/11\/.fe9cebc1-76eb-47c1-814e-560b2cf65a7b.mp3\"><\/audio><\/figure><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"> <strong>Dubai Taxi IPO sees huge investor demand:<\/strong> State-owned Dubai Taxi Corporation\u2019s (DTC) IPO offering up 25% of the company was oversubscribed within the first hour of opening yesterday, <a target=\"_blank\" href=\"https:\/\/www.bloomberg.com\/news\/articles\/2023-11-21\/dubai-government-seeks-up-to-315-million-from-taxi-business-ipo\" style=\"\" rel=\"noopener\">Bloomberg<\/a> reports. The company listed a total of 624.8 mn shares <a target=\"_blank\" href=\"https:\/\/www.dubaitaxi.ae\/ipo\/\" style=\"\" rel=\"noopener\">in its IPO<\/a> on the Dubai Financial Market (DFM). <\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Offering could fetch more than AED 1 bn:<\/strong> The company has set an indicative price range ofAED 1.80-1.85 per share, valuing the company at up to AED 4.62 bn (USD 1.25 bn), according to a <a target=\"_blank\" href=\"https:\/\/www.dfm.ae\/investing\/services\/ipo-subscriptions\/DTC\" style=\"\" rel=\"noopener\">filing to the DFM<\/a>. The share sale could see DTC \u2014 Dubai\u2019s largest taxi operator \u2014 raise as much as AED 1.16 bn (USD 315 mn), <a target=\"_blank\" href=\"https:\/\/www.bloomberg.com\/news\/articles\/2023-11-21\/dubai-government-seeks-up-to-315-million-from-taxi-business-ipo\" style=\"\" rel=\"noopener\">Bloomberg<\/a> notes. The final pricing will be announced next Thursday, 30 November. <\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Sellers<\/strong>: The Department of Finance for the Government of Dubai serves as the seller in the firstsuch offering by the Dubai government in over a year. <\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Advisors: <\/strong>Citibank, Emirates NBD, and Merrill Lynch are joint global coordinators for thetransaction. Joining them on joint bookrunner duties are EFG Hermes UAE and FAB. Emirates NBD is lead receiving bank, while our friends at Mashreq Bank are also serving as a receiving bank alongside FAB and others. Rothschild is also serving as an independent financial advisor.<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>SAUDI ALSO HAS BIG IPOs IN THE PIPELINE- Saudi\u2019s MBC taps HSBC and JPMorgan as advisors for upcoming IPO: <\/strong>The region\u2019s largest broadcaster MBC Group has hired HSBC Holdings and JPMorgan Chase &amp; Co as financial advisors ahead of its initial public offering in Saudi Arabia, <a target=\"_blank\" href=\"https:\/\/www.bloomberg.com\/news\/articles\/2023-11-21\/top-mideast-broadcaster-mbc-gets-regulatory-nod-for-saudi-ipo?srnd=premium-middle-east\" style=\"\" rel=\"noopener\">Bloomberg<\/a> reported. In what could be one of the most prominent IPOs in the kingdom this year, MBC will offer up 10% of its company to public investors, or 33.3 mn shares.<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>ALSO WORTH NOTING-<\/strong><\/p><ul>\n<li><strong>Three quarters of foreign funds invested in Chinese stocks left in 2023,<\/strong>marking outflows of nearly USD 25 bn, according to the <a target=\"_blank\" href=\"https:\/\/www.ft.com\/content\/20c5d5c8-dd64-4c22-a3fc-60d4a8336aeb\" style=\"\" rel=\"noopener\">Financial Times<\/a>. The dumping of shares has pushed the CSI 300 down 11% in USD terms in 2023 as foreign investors lost faith in the economy as it struggled with a precarious real estate sector and slow post-covid recovery.<\/li>\n<\/ul><p><a target=\"_blank\" id=\"t.644f4b7d96b96f8989b41b68aab98478e4240c95\" 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<thead>\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\">24,774<\/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: +69.4%)<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-none\">\n<td class=\"td-list-none\">\n<p><svg class=\"e-icon e-TypeMarkets\"><use xlink:href=\"#e-TypeMarkets\"><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>USD (CBE)<\/strong><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">Buy 30.83<\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">Sell 30.96<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-none\">\n<td class=\"td-list-none\">\n<p><svg class=\"e-icon e-TypeMarkets\"><use xlink:href=\"#e-TypeMarkets\"><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>USD at CIB<\/strong><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">Buy 30.85<\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">Sell 30.95<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-none\">\n<td class=\"td-list-none\">\n<p><svg class=\"e-icon e-TypeMarkets\"><use xlink:href=\"#e-TypeMarkets\"><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>Interest rates CBE<\/strong><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">19.25% deposit<\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">20.25% lending<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-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\">11,129<\/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: +6.2%)<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-down\">\n<td class=\"td-list-down\">\n<p><svg class=\"e-icon e-TypeMarkets1\"><use xlink:href=\"#e-TypeMarkets1\"><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>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\">9,542<\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">-0.4% (YTD: -6.6%)<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-down\">\n<td class=\"td-list-down\">\n<p><svg class=\"e-icon e-TypeMarkets1\"><use xlink:href=\"#e-TypeMarkets1\"><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>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\">3,985<\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">-0.4% (YTD: +19.5%)<\/p>\n<\/td>\n<\/tr><\/thead><tbody><\/tbody>\n\n<tr class=\"tr-row-down\">\n<td class=\"td-list-down\">\n<p><svg class=\"e-icon e-TypeMarkets1\"><use xlink:href=\"#e-TypeMarkets1\"><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>S&amp;P<\/strong><strong>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\">4,538<\/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: +18.2%)<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-down\">\n<td class=\"td-list-down\">\n<p><svg class=\"e-icon e-TypeMarkets1\"><use xlink:href=\"#e-TypeMarkets1\"><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>FTSE 100<\/strong><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">7,482<\/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: +0.4%)<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-down\">\n<td class=\"td-list-down\">\n<p><svg class=\"e-icon e-TypeMarkets1\"><use xlink:href=\"#e-TypeMarkets1\"><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>Euro Stoxx 50<\/strong><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">4,332<\/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: +14.2%)<\/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>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 82.45<\/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>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 2.85<\/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\">-1.3%<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-up\">\n<td class=\"td-list-up\">\n<p><svg class=\"e-icon e-TypeMarkets11\"><use xlink:href=\"#e-TypeMarkets11\"><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>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 2,021.80<\/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\">+1.1%<\/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 36,786.20<\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">-1.7% (YTD: +123.4%)<\/p>\n<\/td>\n<\/tr>\n\n<\/table>\n<\/div><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>THE CLOSING BELL-<\/strong><\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The EGX30 rose 0.1% at yesterday\u2019s close<\/strong> on turnover of EGP 4.1 bn (48.1% above the 90-day average). Regional investors were net buyers. The index is up 69.7% YTD.<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>In the green: <\/strong>Telecom Egypt (+4.5%), GB Corp (+4.4%) and Mopco (+4.3%).<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>In the red: <\/strong>Sidpec (-3.0%), B Investments Holding (-2.5%) and Belton Holding (-1.9%).<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Yesterday\u2019s sell-off on Wall Street is continuing in Asia this morning<\/strong>, where much of the region\u2019s indexes are trading lower. Equity futures are pointing to a mixed session in Europe and the US when markets open later today.<\/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\/dfm\/\">DFM<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/dubai-taxi-company\/\">Dubai Taxi Company<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/ipo-watch\/\">IPO watch<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/mena-ipos\/\">MENA IPOs<\/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                    <\/div>\n    <\/div>\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<div class=\"alignfull hardhat vertical-section wide-section wp-block-group issue-section\" id=\"610582\">\r\n    <div class=\"issue-section__content\">\r\n        <div class=\"alignwide wp-block-columns\">\r\n            <div class=\"wp-block-column sidebar-vertical-info\" style=\"flex-basis:22.8%\">\r\n                <figure class=\"wp-block-image size-full\">\r\n                                            <img decoding=\"async\" src=\"https:\/\/s3.amazonaws.com\/resources.inktankir.com\/internal\/27467.svg\" style=\"width:80%\" alt=\"\" >\r\n                                    <\/figure>\r\n                <p>\r\n                    Our weekly deep-dive into infrastructure in Egypt.                <\/p>\r\n                <figure class=\"wp-block-image size-full mt-0 mb-0 img-white-bg\"><img decoding=\"async\" src=\"https:\/\/s3.amazonaws.com\/resources.inktankir.com\/internal\/27479.svg\" alt=\"\"><\/figure>\r\n                <p class=\"has-text-color has-link-color\">\r\n                    Published every Wednesday in EnterpriseAM.                <\/p>\r\n                <div class=\"wp-block-buttons mt-0\">\r\n                    <div class=\"wp-block-button\">\r\n                        <a class=\"wp-block-button__link has-background wp-element-button\" href=\"https:\/\/enterpriseam.com\/egypt\/hardhat\/\">\r\n                            Read Hardhat                        <\/a>\r\n                    <\/div>\r\n                <\/div>\r\n            <\/div>\r\n            <div class=\"wp-block-column issue-section\">\r\n                <div class=\"story-section\">\r\n                    <div class=\"issue-story-header text-center\">\r\n                        <div class=\"index-number\">10<\/div>\r\n    \r\n                        <p class=\"f-graphik\">HARDHAT<\/p>\r\n                        <h3 class=\"story-title\"><a href=\"https:\/\/enterpriseam.com\/egypt\/hardhats\/govt-looks-to-private-sector-for-infrastructure-ahead-of-planned-olympics-bid\/\"> \r\n                            Gov\u2019t looks to private sector for infrastructure ahead of planned Olympics bid<\/a>\r\n                        <\/h3>\r\n    \r\n\t\t\t\t\t\n<div class=\"cta\">\n    <div class=\"cta__btn share-dropdown-cta dropdown-toggle-btn\" style=\"position:relative\">\n        <img decoding=\"async\" src=\"https:\/\/ent.news\/internal\/408834.svg\" alt=\"\">\n        Share Story\n        <!-- Dropdown Menu -->\n        <ul class=\"share-menu\">\n            <li class=\"list-inline-item\">\n                <a href=\"https:\/\/enterpriseam.com\/egypt\/hardhats\/govt-looks-to-private-sector-for-infrastructure-ahead-of-planned-olympics-bid\/\" target=\"_blank\">\n                    Open in new tab                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/new-tab.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a href=\"#\" target=\"_blank\" onclick=\"event.preventDefault(); 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The government has since spent big on the country\u2019s sporting infrastructure, with plans to attract more investments from the private sector over the next few years.<\/p>\n<p style=\"border-right-style:solid;border-top-width:0pt;border-left-style:solid;orphans:2;text-align:left;padding:0;margin:0;border-right-width:0pt;line-height:1.15;border-left-width:0pt;border-top-style:solid;border-bottom-width:0pt;border-bottom-style:solid;widows:2\"><strong>REMEMBER- <\/strong>For a city to be eligible for hosting the games, the city needs to have an Olympic village capable of housing, feeding and providing medical care to some 11k-16k athletes and their trainers, a media village for international press personnel, a media center to broadcast the competition, 40 unique venues to host the 300 sporting events, and ceremonial and green spaces, according to <a target=\"_blank\" href=\"https:\/\/stillmed.olympics.com\/media\/Document%20Library\/OlympicOrg\/Games\/Future-Olympic-Hosts\/Contractual-framework-for-hosting-the-Olympic-and-Paralympic-Games-January-2020.pdf\" style=\"\" rel=\"noopener\">a contractual framework (pdf)<\/a> from the International Olympic Committee. That\u2019s not to mention at least 40k hotels for spectators to lodge.<\/p>\n<p style=\"border-right-style:solid;border-top-width:0pt;border-left-style:solid;orphans:2;text-align:left;padding:0;margin:0;border-right-width:0pt;line-height:1.15;border-left-width:0pt;border-top-style:solid;border-bottom-width:0pt;border-bottom-style:solid;widows:2\"><strong>But we\u2019ve got competition: <\/strong>Countries including India, Poland, China, Hungary, Italy, Denmark, Canada and Qatar have all indicated that they might be bidding for the hosting rights, according to reports from <a target=\"_blank\" href=\"https:\/\/www.foxsports.com.au\/olympics\/inside-insane-78-billion-olympic-plan-as-egypt-builds-sport-city-to-host-games\/news-story\/2fc5238e52efe10b47f16ed8dc76c8aa\" style=\"\" rel=\"noopener\">FoxSports<\/a> and <a target=\"_blank\" href=\"https:\/\/www.nbcsports.com\/olympics\/news\/poland-2036-olympics-bid-warsaw\" style=\"\" rel=\"noopener\">NBC<\/a>.<\/p>\n<p style=\"border-right-style:solid;border-top-width:0pt;border-left-style:solid;orphans:2;text-align:left;padding:0;margin:0;border-right-width:0pt;line-height:1.15;border-left-width:0pt;border-top-style:solid;border-bottom-width:0pt;border-bottom-style:solid;widows:2\"><strong>Construction on the first phase of the sports complex in the New Administrative Capital is complete: <\/strong>Most of the infrastructure for the EGP 2 bn sports complex \u2014 which includes an indoor hall, an Olympic swimming pool complex, and squash and tennis courts \u2014 is ready, with the remaining work left spanning services and equipment that can service the area, the source added. <\/p>\n<p style=\"border-right-style:solid;border-top-width:0pt;border-left-style:solid;orphans:2;text-align:left;padding:0;margin:0;border-right-width:0pt;line-height:1.15;border-left-width:0pt;border-top-style:solid;border-bottom-width:0pt;border-bottom-style:solid;widows:2\"><strong>What\u2019s left?<\/strong> On top of the sporting facilities, there are also plans in place to have a sports medicine hospital, hotels, an open-air theater, and a shopping center in the Olympic City, Fox Sports said. <\/p>\n<p style=\"border-right-style:solid;border-top-width:0pt;border-left-style:solid;orphans:2;text-align:left;padding:0;margin:0;border-right-width:0pt;line-height:1.15;border-left-width:0pt;border-top-style:solid;border-bottom-width:0pt;border-bottom-style:solid;widows:2\"><strong>There\u2019s more than just the Olympic city: <\/strong>We\u2019ve also built a new sports city in Port Said, a youth city in the Asmarat district, in addition to the establishment of the covered hall at the Army Stadium and the Cairo International Stadium, according to the project profile on <a target=\"_blank\" href=\"https:\/\/www.concord-ec.com\/projects-posts\/22635\/\" style=\"\" rel=\"noopener\">Concord\u2019s website<\/a>. The government also spent somewhere around EGP 2.6 bn on developing existing sporting infrastructure and stadiums, according to our source.<\/p>\n<p style=\"border-right-style:solid;border-top-width:0pt;border-left-style:solid;orphans:2;text-align:left;padding:0;margin:0;border-right-width:0pt;line-height:1.15;border-left-width:0pt;border-top-style:solid;border-bottom-width:0pt;border-bottom-style:solid;widows:2\"><strong>We\u2019re spending big:<\/strong> We\u2019ve invested a total of around EGP 30 bn in the last five years on developing sports facilities, as part of \u201can effort to attract other investments in the private sector,\u201d Youth and Sports Minister Ashraf Sobhi told local media this week.<\/p>\n<p style=\"border-right-style:solid;border-top-width:0pt;border-left-style:solid;orphans:2;text-align:left;padding:0;margin:0;border-right-width:0pt;line-height:1.15;border-left-width:0pt;border-top-style:solid;border-bottom-width:0pt;border-bottom-style:solid;widows:2\"><strong>And the investments are paying off:<\/strong> The investments the government has made so far in 366 youth centers achieved some EGP 3.2 bn in returns, our source said.<\/p>\n<p style=\"border-right-style:solid;border-top-width:0pt;border-left-style:solid;orphans:2;text-align:left;padding:0;margin:0;border-right-width:0pt;line-height:1.15;border-left-width:0pt;border-top-style:solid;border-bottom-width:0pt;border-bottom-style:solid;widows:2\"><strong>The state now wants private sector involvement:<\/strong>The private sector can start bidding for the contract for the Olympic city, as well as more youth centers, next year, Atter Hannoura, director of the Finance Ministry\u2019s PPP unit, said, adding that we\u2019re looking to investors to aid in the process of equipping and preparing our stadiums, according to our source. The total investment costs for the city, as well as its launch date, are still being decided, Hannoura said. <\/p>\n<p style=\"border-right-style:solid;border-top-width:0pt;border-left-style:solid;orphans:2;text-align:left;padding:0;margin:0;border-right-width:0pt;line-height:1.15;border-left-width:0pt;border-top-style:solid;border-bottom-width:0pt;border-bottom-style:solid;widows:2\"><strong>The gov\u2019t is also eyeing investments through IPOs: <\/strong>The government is planning to establish a company for the state-owned sporting club El Nadi, ahead of a planned IPO on the EGX sometime in the next two years, Sobhi said this week, according to <a target=\"_blank\" href=\"https:\/\/bit.ly\/3QRQdvi\" style=\"\" rel=\"noopener\">Hapi Journal<\/a>. The IPO will take place after the club opens its third branch, Sobhi added. Its current branches are located in 6th of October and Sheraton.<\/p>\n<p style=\"border-right-style:solid;border-top-width:0pt;border-left-style:solid;orphans:2;text-align:left;padding:0;margin:0;border-right-width:0pt;line-height:1.15;border-left-width:0pt;border-top-style:solid;border-bottom-width:0pt;border-bottom-style:solid;widows:2\"><strong>More infrastructure expansions to come:<\/strong> There are also plans to expand our youth centers and sports clubs at the governorate level, the source said. \u201cWe now have 4,503 youth centers nationwide and 30 sports stadiums, in addition to developing and raising the efficiency of new buildings and youth centers, and there are plans for the construction of more in the coming period,\u201d they added.<\/p>\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/hardhat\/\">Hardhat<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/infrastructure\/\">infrastructure<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/new-administrative-capital\/\">new administrative capital<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/sports\/\">sports<\/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>\r\n            <\/div>\r\n            <div class=\"wp-block-column\" style=\"flex-basis:19.8%\"><\/div>\r\n        <\/div>\r\n    <\/div>\r\n<\/div>\n<section id=\"610584\" 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\/22\/610584\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-610584\" class=\"content-area-description single-story post-610584 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;\">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;\">26 November (Sunday): The 36th OPEC and non-OPEC Ministerial Meeting takes place in Vienna.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span>30 November-12 December (Thursday-Tuesday<\/span><span>): <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/www.cop28.com\/\" style=\"\">COP28<\/a><\/span><span>, <\/span><span style=\"font-weight:400;\">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>1 January (Monday): Egypt to join the Brics.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:400;\">7 January (Sunday): Coptic Christmas.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:400;\">17 January (Wednesday): A delegation of Egyptian companies to visit Istanbul.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span>25 January (Thursday): Revolution day.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:700;\">FEBRUARY<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:400;\">11 February (Sunday): The deadline to apply for the Chicago Booth Executive Program<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:700\">APRIL<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:400;\">9 April (Tuesday): Eid El Fitr (TBC).<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span>25 April (Thursday): National holiday in observance of Sinai Liberation Day (TBC).<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:700;\">MAY<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:400;\">1 May (Wednesday): National holiday in observance of Labor Day (TBC).<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:400;\">5 May (Sunday): Coptic Easter.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:400;\">6 May (Monday): Sham El Nessim (TBC).<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:400;\">29 May (Wednesday): Chicago Booth Executive Program<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:700;\">JUNE<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:400;\">15-19 June (Saturday-Wednesday): Eid El Adha (TBC).<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span>30 June (Sunday): June 30 Revolution Day.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:700;\">JULY<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:400;\">7 July (Sunday): National holiday in observance of Islamic New Year (TBC).<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span>23 July (Tuesday): Revolution Day.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:700;\">SEPTEMBER<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span>2-5 September (Monday-Thursday): <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/www.airport-technology.com\/sponsored\/dates-announced-for-egypt-international-airshow-2024\/\" style=\"\">Egypt International Airshow<\/a><\/span><span style=\"font-weight:400;\">, El Alamein International Airport.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span>15 September (Sunday): National holiday in observance of Prophet Muhammad\u2019s birthday (TBC).<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:700;\">OCTOBER<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:400;\">6 October (Sunday): Armed Forces Day.<\/span><\/p>\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n","protected":false},"excerpt":{"rendered":"<p>Coming soon: e-KYC | A day in Paris and London | CZ out | Oversubscribed in 60 minutes<\/p>\n","protected":false},"featured_media":610560,"menu_order":0,"template":"","categories":[],"tags":[],"class_list":["post-610559","issue","type-issue","status-publish","has-post-thumbnail","hentry","wpautop","entry"],"acf":{"mongo_id":"d021d1cf-90c6-4d4a-bf08-f7bb477f7770","teaser":"Coming soon: e-KYC | A day in Paris and London | CZ out | Oversubscribed in 60 minutes","photo_url":"https:\/\/ent.news\/2023\/11\/1240.jpg"},"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v27.1 (Yoast SEO v27.1.1) - https:\/\/yoast.com\/product\/yoast-seo-premium-wordpress\/ -->\n<title>Gaza to get four-day reprieve after Israel backs hostage-for-ceasefire pact - EnterpriseAM Egypt<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/enterpriseam.com\/egypt\/issues\/gaza-to-get-four-day-reprieve-after-israel-backs-hostage-for-ceasefire-pact\/\" 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