{"id":610671,"date":"2023-11-26T00:00:00","date_gmt":"2023-11-26T00:00:00","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/?post_type=issue&#038;p=610671"},"modified":"2025-12-17T02:13:06","modified_gmt":"2025-12-17T02:13:06","slug":"egypt-looks-set-to-resume-lng-exports","status":"publish","type":"issue","link":"https:\/\/enterpriseam.com\/egypt\/issues\/egypt-looks-set-to-resume-lng-exports\/","title":{"rendered":"Egypt looks set to resume LNG exports"},"content":{"rendered":"<section id=\"610673\" 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=\"610673\">\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\/26\/the-countdown-to-cop28-begins\/\">\r\n                            All eyes on Dubai as the countdown to COP28 begins                        <\/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\/26\/the-countdown-to-cop28-begins\/\" target=\"_blank\">\n                    Open in new tab                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/new-tab.svg\" alt=\"\"> -->\n           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data-image-meta=\"[]\" data-image-title=\"1355.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2023\/11\/1355.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2023\/11\/1355.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-610673\" class=\"content-area-description single-story post-610673 post type-post status-publish format-standard has-post-thumbnail hentry category-what-were-tracking-today tag-climate tag-cop27 tag-cop28 tag-enterpriseam tag-green-economy tag-uae 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\/.26a26d12-dcf2-4536-afff-c76dd6c58c60.mp3\"><\/audio><\/figure><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Good morning, friends. <\/strong>Two foreign stories in which Egypt is deeply involved will nudge business news off center stage this week: The war in Gaza and COP28.<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>#1- Israel\u2019s war in Gaza has entered a new phase. <\/strong>Egypt\u2019s diplomatic efforts to negotiate a ceasefire \u2014 and then to keep hostage and prisoner releases on track \u2014 are the story of the morning. <strong>A measure of quiet has descended over Gaza<\/strong>, where more than 12k people have been killed so far as a result of Israel\u2019s war. The ceasefire, which took hold on Friday morning at 7am local time, seems largely to be holding. <\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The pause in the fighting is set to expire on Tuesday morning<\/strong>, but State Information Service chief Diaa Rashwan said in a statement late yesterday that Egypt was brokering talks with Hamas and Israel to extend the ceasefire for at least one to two days, a development that would give more time to get aid in to Gazans.<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>COUNTDOWN TO COP28<\/strong><\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"> <a id=\"wwtt1\"><\/a> <strong>#2- We\u2019re in the final countdown to <\/strong><strong><a target=\"_blank\" href=\"https:\/\/www.cop28.com\/en\/\" style=\"\" rel=\"noopener\">COP28<\/a><\/strong><strong>, which kicks off on Thursday, <\/strong>bringing together global leaders in science, policy, and business in host city Dubai. The summit runs from 30 November to 12 December.<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Setting the agenda: <\/strong>The gathering will focus on fast-tracking the world\u2019s transition to green energy, slashing emissions before 2030, transforming climate finance, and building resilience, the COP28 presidency said in its <a target=\"_blank\" href=\"https:\/\/www.cop28.com\/en\/letter-to-parties\" style=\"\" rel=\"noopener\">letter to parties<\/a>. A big focus of the summer will be the first of the so-called <a target=\"_blank\" href=\"https:\/\/unfccc.int\/topics\/global-stocktake\/about-the-global-stocktake\/why-the-global-stocktake-is-important-for-climate-action-this-decade\" style=\"\" rel=\"noopener\">global stocktakes<\/a> \u2014 or \u201cGST\u201d in COP-speak.<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>What\u2019s a GST? <\/strong>They\u2019re five-year checkpoints that track the progress (or lack thereof) made by the international community since the 2015 Paris Agreement. <\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Could the loss and damage fund finally see the light? <\/strong>Little progress has been made on the <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/15bbe74e-71c7-4c48-9b0e-47c7b32caa79\" style=\"\" rel=\"noopener\">landmark loss and damage<\/a><a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/15bbe74e-71c7-4c48-9b0e-47c7b32caa79\" style=\"\" rel=\"noopener\">fund<\/a> over the past year after delegates from some 200 nations signed off on the pact at the close of COP27. The fund, championed by Egypt\u2019s climate envoy, Dr. Mahmoud Mohieldin, aims to have wealthy nations pitch into a fund to help vulnerable countries cope with climate change. <\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Where does it stand? <\/strong>A draft agreement on the fund, reached earlier this month, will be put up for a final vote during COP28, but the <a target=\"_blank\" href=\"https:\/\/apnews.com\/article\/loss-damage-fund-climate-cop28-disaster-extreme-weather-world-bank-f52dec84e0dc46054bde9391bbcd2f09\" style=\"\" rel=\"noopener\">AP is warning<\/a> that it will face challenges getting through. <\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>A new fund to help heavy industry go green? <\/strong>The Just Energy Transition Partnership (JETP) \u2014 a financing scheme under which Western donors help fund developing nation\u2019s transition to green energy \u2014 should be replicated for heavy industries and hard-to-abate sectors such as steel, aluminum, cement and fertilizers, Mohieldin told <a target=\"_blank\" href=\"https:\/\/www.reuters.com\/sustainability\/sustainable-finance-reporting\/egypt-climate-envoy-sees-international-funds-helping-developing-industries-2023-11-25\/\" style=\"\" rel=\"noopener\">Reuters<\/a>. <\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>FAST FACT- Emerging markets<\/strong><strong> need some USD 387 bn a year through 2030<\/strong> to adapt to climate-driven changes, the UN said in a <a target=\"_blank\" href=\"https:\/\/ent.news\/2023\/11\/1331.pdf\" style=\"\" rel=\"noopener\">report (pdf)<\/a>. <\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>** Go deeper: <\/strong>Enterprise Climate spoke to Mohieldin earlier this year on all things <a target=\"_blank\" href=\"https:\/\/enterprise.news\/climate\/en\/news\/story\/91c7b6fd-990d-4efb-a37a-8a63310590ca\" style=\"\" rel=\"noopener\">COP, loss<\/a><a target=\"_blank\" href=\"https:\/\/enterprise.news\/climate\/en\/news\/story\/91c7b6fd-990d-4efb-a37a-8a63310590ca\" style=\"\" rel=\"noopener\">and damage fund<\/a>, and <a target=\"_blank\" href=\"https:\/\/enterprise.news\/climate\/en\/news\/story\/4079e253-e730-4ba5-9150-a0998de09825\" style=\"\" rel=\"noopener\">fossil fuels<\/a>. <\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>** NEED MORE? Tomorrow\u2019s Enterprise Climate will have the inside track on what you <\/strong><strong>need to know about COP28. <\/strong><\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>EXPATS VOTE NEXT WEEK-<\/strong><\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><a id=\"wwtt2\"><\/a> <strong>ELECTION 2023 UPDATE- Egyptians abroad go to polls on 1-3 December <\/strong>to choose between incumbent President <strong>Abdel Fattah El Sisi<\/strong>, Al Wafd Party\u2019s <strong>Abdel Sanad Yamama<\/strong>, the Egyptian Social Democratic Party\u2019s <strong>Farid Zahran<\/strong>, and the Republican People Party\u2019s Party <strong>Hazem Omar<\/strong>.<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Voters in Egypt will cast their ballots on 10-12 December.<\/strong> First-round results are due on 18 December and a runoff, if necessary, will take place in early January 2024.<\/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\"><strong>WATCH THIS SPACE<\/strong><\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"> <strong>#1- Erdogan could visit Egypt soon: <\/strong>Turkish President Recep Tayyip Erdogan could touch down in Cairo \u201csoon\u201d to discuss accelerating the evacuation of wounded Palestinians from Gaza, the Turkish president told reporters on Wednesday, according to Turkish news outlet <a target=\"_blank\" href=\"https:\/\/www.haberturk.com\/cumhurbaskani-erdogan-netanyahu-pilini-pirtisini-toplayip-buradan-cekilecek-3639224?page=4\" style=\"\" rel=\"noopener\">Haberturk<\/a>. The visit \u2014 a first since diplomatic relations between Egypt and Turkey broke down in 2013 \u2014 comes as Erdogan calls on the Islamic world to act as a \u201csingle fist\u201d on Gaza. \u201cWhen that fist hits the table with all its force, it will not be possible for Israel to continue its occupation or oppression,\u201d he said. <strong>Cairo and Ankara restored full diplomatic ties <\/strong><strong><a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/467e7c7c-3c5e-45ce-bc81-70050a95fabf\" style=\"\" rel=\"noopener\">in July this year<\/a><\/strong>.<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><a id=\"wwtt3\"><\/a> <strong>#2- Our green hydrogen strategy is imminent: <\/strong>The Madbouly government will launch its long-awaited green hydrogen strategy within days, <a target=\"_blank\" href=\"https:\/\/tinyurl.com\/mwz8hm49\" style=\"\" rel=\"noopener\">Al<\/a><a target=\"_blank\" href=\"https:\/\/tinyurl.com\/mwz8hm49\" style=\"\" rel=\"noopener\">Mal<\/a> reports. The news comes shortly after the National Green Hydrogen Council approved the strategy. We have the full story in this morning\u2019s news well, below. <\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>#3- Companies have until tomorrow to submit bids for the EEHC\u2019s solar tender: <\/strong>The Egyptian Electricity Holding Company (EEHC) will close bidding window for its tender for <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/a423c134-0e3b-40af-9bc1-7ab40b8dd0d4\" style=\"\" rel=\"noopener\">five concentrated solar power<\/a> plants tomorrow, <a target=\"_blank\" href=\"https:\/\/tinyurl.com\/3dxvxm9p\" style=\"\" rel=\"noopener\">Al<\/a><a target=\"_blank\" href=\"https:\/\/tinyurl.com\/3dxvxm9p\" style=\"\" rel=\"noopener\">Mal<\/a> reported, citing sources it says are involved in the bids. The plants will power desalination plants on the north coast and will have a combined capacity of 250 MW, helping desalinate over 400k cubic meters of water per day. The plants are expected to require USD 270 mn of investment and will be established under 25-year build-own-operate contracts. <\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>There\u2019s plenty of interest from developers<\/strong><strong>:<\/strong>Our friends at Hassan Allam Utilities and Infinity are said to be interested, as are Madkour Group and Smart Engineering Solutions (SES). Foreign bidders include Saudi Arabia\u2019s Acwa Power, Al Nowais\u2019 AMEA Power, Norwegian renewables producer Scatec, Japan\u2019s Toyota, and Spain\u2019s Aquila.<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>#4- Once, this meant it was any random Tuesday. Today, it\u2019s rarer than hen\u2019s teeth: <\/strong><strong>Foreign VCs are in town to meet with startups: <\/strong>US-based VC firm Plug and Play is coordinating meetings between five foreign VCs \u2014 <a target=\"_blank\" href=\"https:\/\/www.speedinvest.com\/\" style=\"\" rel=\"noopener\">Speedinvest<\/a>, <a target=\"_blank\" href=\"https:\/\/enza.capital\/\" style=\"\" rel=\"noopener\">ENZA Capital<\/a>, <a target=\"_blank\" href=\"https:\/\/www.ingressivecapital.com\/\" style=\"\" rel=\"noopener\">Ingressive Capital<\/a>, <a target=\"_blank\" href=\"https:\/\/www.p1.ventures\/\" style=\"\" rel=\"noopener\">P1 Ventures<\/a> and <a target=\"_blank\" href=\"https:\/\/denvc.com\/\" style=\"\" rel=\"noopener\">DenVC<\/a> \u2014 and 25 local startups to explore possible investment, Plug and Play\u2019s Egypt director, <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/3df69d0c-f266-4e0a-bd5f-04351fcf987d\" style=\"\" rel=\"noopener\">Karima El Hakim<\/a>, told <a target=\"_blank\" href=\"https:\/\/tinyurl.com\/3pbhvbbs\" style=\"\" rel=\"noopener\">Al Mal<\/a>. <\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>THE BIG STORY ABROAD- <\/strong><\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The foreign press is fixated on three main stories this morning: <\/strong>The hostage exchange between Israel and Hamas (we have the details in this morning\u2019s War Watch), Sam Altman\u2019s return to OpenAI, and a <a target=\"_blank\" href=\"https:\/\/apnews.com\/article\/russia-ukraine-war-shahed-drones-kyiv-attack-ad3eef50f980a4df023fad78d7bc197d\" style=\"\" rel=\"noopener\">large Russian drone attack<\/a> on Ukraine.<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>FAST FACT- More women and children have died in Gaza in two weeks<\/strong> than have died in Ukraine in nearly two years. <\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><a id=\"wwtt4\"><\/a> <strong>Sam Altman is back at the helm of OpenAI:<\/strong> Sam Altman was reinstated as CEO of the high-profile AI just five days after his sacking by the board \u2014 a move that triggered a <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/a630fc7e-934e-4b36-b455-32321b2bb7f6\" style=\"\" rel=\"noopener\">riotous response<\/a> from employees and investors alike and sent shockwaves across Silicon Valley.<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>OpenAI\u2019s board is out:<\/strong> The board that fired Altman, which was in place to ensure the \u201csafe development\u201d of AI, has been replaced by a three-man provisional board. The board that fired Atlman included two high-profile <a target=\"_blank\" href=\"https:\/\/www.effectivealtruism.org\/\" style=\"\" rel=\"noopener\">effective altruists<\/a> and Ilya Sutskever, a co-founder of OpenAI and its chief scientist. Sutskever helped lead the rebellion against Altman and then flipped sides, saying he would leave the company if Altman did not return as CEO. <\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>So who\u2019s on the board? <\/strong><\/p><ul>\n<li>US economist and former treasury secretary <strong>Larry Summers<\/strong> (someone apparently thinks he\u2019s <a target=\"_blank\" href=\"https:\/\/www.nytimes.com\/2023\/11\/22\/technology\/open-ai-board-shakeup.html\" style=\"\" rel=\"noopener\">capable of standing up to Altman<\/a> ?) <\/li>\n<li><strong>Bret Taylor<\/strong>, a former Facebook and Salesforce exec who was a key player in negotiating the sale of Twitter to Elon Musk;<\/li>\n<li>Quora CEO <strong>Adam D\u2019Angelo<\/strong>, the only remaining member of the board that had sacked Altman. <\/li>\n<\/ul><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Their mandate: <\/strong>Sort out a proper governance structure and an expanded board, among other things. <\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>There are <\/strong><strong>whispers that an AI breakthrough catalyzed Altman\u2019s sacking<\/strong>: Prior to Altman\u2019s dismissal, a previously unreported letter from staff researchers to the board of directors had warned of a powerful AI discovery that they believed \u201ccould threaten humanity,\u201d two sources told <a target=\"_blank\" href=\"https:\/\/www.reuters.com\/technology\/sam-altmans-ouster-openai-was-precipitated-by-letter-board-about-ai-breakthrough-2023-11-22\/\" style=\"\" rel=\"noopener\">Reuters<\/a>. It was this letter, and the new algorithm finding named Q*, which catalyzed Altman\u2019s ousting, they added. <\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>But the tech press isn\u2019t buying it (yet). <\/strong>Reporters have been unable to track down the letter, and there\u2019s disagreement among experts on whether an AI that can do grade school math is a breakthrough. <\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\">See more at: <a target=\"_blank\" href=\"https:\/\/www.bloomberg.com\/news\/articles\/2023-11-22\/altman-returns-to-openai-after-firing-showed-rifts-left-unhealed\" style=\"\" rel=\"noopener\">Bloomberg<\/a> | <a target=\"_blank\" href=\"https:\/\/www.ft.com\/content\/e0bd5dad-6e70-4aa8-9cc9-56cd7a470df1\" style=\"\" rel=\"noopener\">Financial Times<\/a> | <a target=\"_blank\" href=\"https:\/\/www.theverge.com\/23966325\/openai-sam-altman-fired-turmoil-chatgpt\" style=\"\" rel=\"noopener\">The Verge<\/a>. <\/p><div class=\"row\">\n<div class=\"col-md-12 subscribe-box-panel\">\n<div class=\"\">\n<div class=\"title\">\n<h4 class=\"fw-lighter mb-10\">\n   Get <b style=\"font-weight: 700\">Enterprise<\/b> daily<br>\n  <\/h4>\n<\/div>\n<p class=\"mb-10\">The roundup of news and trends that move your markets and shape corporate agendas delivered straight to your inbox.<\/p>\n<p>  <a target=\"_blank\" href=\"egypt\/en\/user\/NewsLetters\" type=\"button \" class=\"btn-green px-3 d-flex align-items-center\" rel=\"noopener\">Subscribe here<\/a>\n <\/p><\/div>\n<\/div>\n<\/div><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>MARKET WATCH-<\/strong><\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><a id=\"wwtt5\"><\/a> <strong>OPEC+ <\/strong><strong>push<\/strong><strong>es back crucial policy meeting<\/strong><strong>: <\/strong>The alliance of oil producers known as OPEC+ will be meeting on Thursday instead of today to decide on next year\u2019s production target, it said in a <a target=\"_blank\" href=\"https:\/\/www.opec.org\/opec_web\/en\/press_room\/7260.htm\" style=\"\" rel=\"noopener\">statement<\/a>. OPEC members failed to reach a consensus on the output quotas for African members, which caused the delay, <a target=\"_blank\" href=\"https:\/\/www.bloomberg.com\/news\/articles\/2023-11-22\/opec-struggle-over-african-quotas-forces-group-to-delay-meeting\" style=\"\" rel=\"noopener\">Bloomberg<\/a> wrote. There are signs the alliance moved closer this weekend to reaching an agreement with the African producers, who are aiming for higher quotas, four OPEC+ sources told <a target=\"_blank\" href=\"https:\/\/www.reuters.com\/markets\/commodities\/opec-moving-closer-compromise-with-african-producers-sources-say-2023-11-24\/\" style=\"\" rel=\"noopener\">Reuters<\/a>. <\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>FACT CHECK- B Investments\u2019 OFH acquisition is still happening: <\/strong>B Investments has denied social media claims that it is backing out of its acquisition of Orascom Financial Holdings (OFH) in an <a target=\"_blank\" href=\"https:\/\/ent.news\/2023\/11\/1287.pdf\" style=\"\" rel=\"noopener\">EG<\/a><a target=\"_blank\" href=\"https:\/\/ent.news\/2023\/11\/1287.pdf\" style=\"\" rel=\"noopener\">X disclosure (pd<\/a><a target=\"_blank\" href=\"https:\/\/ent.news\/2023\/11\/1287.pdf\" style=\"\" rel=\"noopener\">f)<\/a>. The EGX-listed private equity firm is working with the Financial Regulatory Authority (FRA) to finish up the necessary legal procedures before submitting its offer for up to 90% of OFH \u201cas soon as possible.\u201d B Investments has until <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/947809e6-17d4-440a-aea1-3c60de7c3753\" style=\"\" rel=\"noopener\">mid-December<\/a> to submit its mandatory tender offer (MTO). <\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>DICE FOUNDING FAMILY OWNS 63.4%-<\/strong><\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>CORRECTION-<\/strong><strong>Dice\u2019s foun<\/strong><strong>ding family now owns 63.4% of the company<\/strong> after buying back 545 mn shares at EGP 0.80 per share through a mandatory tender offer (MTO), according to a <a target=\"_blank\" href=\"https:\/\/ent.news\/2023\/11\/1329.pdf\" style=\"\" rel=\"noopener\">statement<\/a><a target=\"_blank\" href=\"https:\/\/ent.news\/2023\/11\/1329.pdf\" style=\"\" rel=\"noopener\">(pdf) from Beltone Financial Holding<\/a>. Last week, we had miscalculated the stake that the founding family\u2019s Toma Company for Commercial and Industrial Investments holds in the company post acquisition. We have since updated the story on <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/3959e977-092b-4868-bb8a-8429e2b32baa\" style=\"\" rel=\"noopener\">our website<\/a>. <\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>ADVISORS- <\/strong>Beltone\u2019s investment banking arm acted as financial advisor on the transaction, steering the transaction structure and overseeing execution. Beltone Securities acted as broker.<\/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\/climate\/\">Climate<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/cop27\/\">COP27<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/cop28\/\">COP28<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/green-economy\/\">Green Economy<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/uae\/\">UAE<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <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=\"610675 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=\"610675\">\r\n            \r\n            <div class=\"story__body\">\r\n\r\n                <a href=\"https:\/\/enterpriseam.com\/egypt\/2023\/11\/26\/610675\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-610675\" class=\"content-area-description single-story post-610675 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\/129.jpg?ssl=1\"><\/a><\/span><\/p><div class=\"grouped-tags\">\n<p><span style=\"font-weight:700\">DISCOVER SOMABAY:<\/span><span style=\"font-weight:400;\"> 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=\"610676\" 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=\"610676\">\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\">IPO<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2023\/11\/26\/acud-could-raise-more-than-egp-150-bn-from-its-planned-egx-ipo\/\">\r\n                            The developer of Egypt\u2019s new capital could raise more than EGP 150 bn from its planned EGX 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\/26\/acud-could-raise-more-than-egp-150-bn-from-its-planned-egx-ipo\/\" 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\/26\/acud-could-raise-more-than-egp-150-bn-from-its-planned-egx-ipo\/')\">\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\/26\/acud-could-raise-more-than-egp-150-bn-from-its-planned-egx-ipo\/\">\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=ACUD could raise more than EGP 150 bn from its planned EGX IPO&url=https:\/\/enterpriseam.com\/egypt\/2023\/11\/26\/acud-could-raise-more-than-egp-150-bn-from-its-planned-egx-ipo\/\">\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\/26\/acud-could-raise-more-than-egp-150-bn-from-its-planned-egx-ipo\/&title=ACUD could raise more than EGP 150 bn from its planned EGX IPO\">\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=ACUD+could+raise+more+than+EGP+150+bn+from+its+planned+EGX+IPO+https%3A%2F%2Fenterpriseam.com%2Fegypt%2F2023%2F11%2F26%2Facud-could-raise-more-than-egp-150-bn-from-its-planned-egx-ipo%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\/26\/acud-could-raise-more-than-egp-150-bn-from-its-planned-egx-ipo\/\">\r\n                    <div class=\"photo photo--above\">\r\n                        <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2023\/11\/1350.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"610677\" data-permalink=\"https:\/\/enterpriseam.com\/egypt\/2023\/11\/26\/acud-could-raise-more-than-egp-150-bn-from-its-planned-egx-ipo\/1350-jpg-5\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2023\/11\/1350.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"1350.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2023\/11\/1350.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2023\/11\/1350.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-610676\" class=\"content-area-description single-story post-610676 post type-post status-publish format-standard has-post-thumbnail hentry category-ipo-watch tag-acud tag-egx tag-enterpriseam tag-housing-ministry tag-ipo-watch tag-military tag-new-administrative-capital tag-privatization-watch wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<figure class=\"wp-block-audio mb-0\"><audio controls preload=\"metadata\" src=\"https:\/\/s3.us-east-1.amazonaws.com\/ent.news\/audio\/2023\/11\/.8cd060ad-57bf-482a-b86b-7b8ef08f4cb7.mp3\"><\/audio><\/figure>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"> <strong>ACUD has a target raise for its planned IPO: <\/strong>The developer of the new administrative capital could raise more than EGP 150 bn when it goes ahead with its anticipated IPO on the EGX, company chairman Khaled Abbas told <a target=\"_blank\" href=\"https:\/\/tinyurl.com\/2auzwe6b\" style=\"\" rel=\"noopener\">Asharq Business<\/a>. Administrative Capital for Urban Development (ACUD), a joint venture between the military and the Housing Ministry, plans to offer 5-10% of its shares on the Egyptian Exchange in a sale that some have speculated <a target=\"_blank\" href=\"https:\/\/www.bloomberg.com\/news\/articles\/2021-08-15\/egypt-readies-what-may-be-its-biggest-ipo-as-new-capital-emerges?sref=mmeFTDW1\" style=\"\" rel=\"noopener\">could be the largest-ever public share sale<\/a> in Egypt.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>An FX overhang?<\/strong>Abbas told the news outlet that the sale could fetch more than EGP 150 bn \u201cafter re-evaluating the company\u2019s assets in light of the currency challenges.\u201d The company is looking to increase its paid-in capital to EGP 77.5 bn from EGP 57 bn, making it the largest in Egypt, and its total assets are expected to reach EGP 300-320 bn by the end of the year from EGP 255 bn in 2022, Abbas said. <strong>No formal valuation of ACUD has ever been made public. <\/strong><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Which unit goes public?<\/strong> Abbas floated the possibility of either the parent company or a subsidiary being selected for IPO. The decision about which company to list will be made with the advisors working on the transaction, which ACUD is still <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/1aadfd73-6af7-4eb3-a70c-59a5a7c42dcb\" style=\"\" rel=\"noopener\">in the process of appointing<\/a>, he said. The company could be ready for listing by 2Q 2024, he added.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>D<\/strong><strong>ual listing ahead? <\/strong>If the ACUD itself goes public, it will look at the possibility of a dual listing in a Gulf or international market, Abbas said. \u201cOur brothers in the Gulf have many investments in the [MENA] region and they know the proceeds of [investing in real estate], and they can gauge the future returns,\u201d Abbas said.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>More than two years in the making:<\/strong> President Abdel Fattah El Sisi <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/f63d3ff5-2693-4e97-94c7-b4638ef57a75\" style=\"\" rel=\"noopener\">first raised the idea<\/a> of the ACUD going public in 2021. Abbas last <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/10bc58be-e08b-431f-a5ae-7ca94458a0a0\" style=\"\" rel=\"noopener\">talked up the IPO<\/a> this past September.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Refresher: <\/strong>Since being established in 2016, ACUD has been in charge of selling the 700 square-km new capital land bank to developers and government bodies, awarding construction and services contracts, and supervising the development of the city. The military owns 51% of ACUD and the Housing Ministry holds the remaining 49%.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>TWO NEW COMPANIES UP FOR PRIVATIZATION?<\/strong><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Two Transport Ministry entities up for grabs? <\/strong>The Transport Ministry has nominated its investment arm MOT Investment and Projects and the state-owned shipping firm National Navigation Company (NNC) to be added to the privatization program, <a target=\"_blank\" href=\"https:\/\/tinyurl.com\/3vs5nttx\" style=\"\" rel=\"noopener\">Al Mal<\/a> reported, citing sources it says are familiar with the matter. The Transport Ministry has two other companies that it could later consider adding to the program.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>NNC already has an interested buyer: <\/strong>French shipping giant CMA CGM <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/24a14828-24bc-4f34-8b41-5a54f8601e8c\" style=\"\" rel=\"noopener\">expressed interest<\/a> in acquiring a stake in NNC in July. The ministry-controlled Holding Company for Maritime and Land Transport owns 56% of NNC, the National Bank of Egypt holds 39.9%, while the remainder is owned by private-sector investors.<\/p>\n\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/acud\/\">ACUD<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/egx\/\">EGX<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/housing-ministry\/\">Housing Ministry<\/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\/military\/\">military<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/new-administrative-capital\/\">new administrative capital<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/privatization-watch\/\">privatization watch<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                    <\/div>\n    <\/div>\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"610678\" class=\"issue-section \">\n<div class=\"issue-section__content\">\n<div class=\"stories\">            <!-- Show divider before story section -->\r\n        <div \r\n            class=\"\r\n                            \"\r\n            id=\"610678\">\r\n            \r\n            <div class=\"story__body\">\r\n\r\n                <a href=\"https:\/\/enterpriseam.com\/egypt\/2023\/11\/26\/egyptian-gas-could-be-returning-to-the-global-market\/\">\r\n                    <div class=\"photo photo--above\">\r\n                        <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2023\/11\/1283.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"610679\" data-permalink=\"https:\/\/enterpriseam.com\/egypt\/2023\/11\/26\/egyptian-gas-could-be-returning-to-the-global-market\/1283-jpg-2\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2023\/11\/1283.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"1283.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2023\/11\/1283.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2023\/11\/1283.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-610678\" class=\"content-area-description single-story post-610678 post type-post status-publish format-standard has-post-thumbnail hentry category-uncategorized tag-energy tag-enterpriseam tag-oil-and-gas tag-trade 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\/.7f464342-72cc-43b9-8e2c-1e26878ae35e.mp3\"><\/audio><\/figure>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"> <strong>It looks like we\u2019re about to resume LNG exports:<\/strong> An LNG vessel has arrived at one of Egypt\u2019s liquefaction plants, <a target=\"_blank\" href=\"https:\/\/www.bloomberg.com\/news\/articles\/2023-11-22\/egypt-set-to-restart-lng-exports-after-israel-gas-supply-rises?srnd=economics-trade\" style=\"\" rel=\"noopener\">Bloomberg<\/a> reports, suggesting that we\u2019re about to resume gas shipments after half a year with virtually no LNG leaving our country. Shipping data obtained by the news outlet shows that a carrier has docked at Idku, though its destination remains unknown. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Remember:<\/strong> LNG exports have been on hold since the first half of the year due to an unusually long summer heatwave, declining local production, and the war in Gaza. <\/p>\n<ul>\n<li><strong>A scorching summer + declining production:<\/strong> Egypt exported barely any gas during the summer months due to soaring local demand and <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/846ecdd4-0a16-40f5-8c1e-ef52f3265a06\" style=\"\" rel=\"noopener\">falling production<\/a>, triggering a months-long power crisis that has seen daily blackouts across the country.<\/li>\n<li><strong>The war compounded problems:<\/strong> Our imports of Israeli gas <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/ef901833-3643-406c-9f73-560e93c578ef\" style=\"\" rel=\"noopener\">fell to zero<\/a> after <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/4b815416-4098-4b11-a75f-df31f6c9d58e\" style=\"\" rel=\"noopener\">Chevron<\/a><a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/4b815416-4098-4b11-a75f-df31f6c9d58e\" style=\"\" rel=\"noopener\">halted operations<\/a> at the Tamar gas field in early October in response to the war in Gaza. The US energy firm restarted production from the field earlier this month and exports to Egypt are said to have returned to pre-war levels of 800 mn cubic feet per day.<\/li>\n<\/ul>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Exports so far in 2023 have been less than half of last year\u2019s volumes:<\/strong> Egypt has exported just 3.38 mn metric tons of LNG so far this year, down from 7.1 mn tons during the whole of 2022, according to <a target=\"_blank\" href=\"https:\/\/www.spglobal.com\/commodityinsights\/en\/market-insights\/latest-news\/natural-gas\/101123-israeli-gas-flows-via-emg-pipeline-to-egypt-suspended-rerouted-via-jordan\" style=\"\" rel=\"noopener\">S&P Global Commodity Insights data<\/a>. The country has capacity to export more than 12 mn tons a year via its two liquefaction plants at Damietta and Idku. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>How much we can export is the big question:<\/strong>The government is said to be calculating how much gas it can allocate to export this winter, with cooler temperatures reducing local demand and war-related disruption easing. Bloomberg projections remain gloomy, expecting export volumes to be 40% lower this winter than it forecast last month.<\/p>\n\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/energy\/\">energy<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/oil-and-gas\/\">oil and gas<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/trade\/\">trade<\/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=\"610680\" 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=\"610680\">\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\">Energy<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2023\/11\/26\/national-green-hydrogen-council-approves-green-hydrogen-strategy\/\">\r\n                            Egypt\u2019s green hydrogen council approves green hydrogen strategy                        <\/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\/26\/national-green-hydrogen-council-approves-green-hydrogen-strategy\/\" 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 Madbouly government is planning a world-scale green hydrogen program that could also give birth to a domestic industry building components ranging from solar panels to bases for wind mills.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>What we know:<\/strong> Under <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/a10abfdb-9dc8-4c91-ab5d-8513537de698\" style=\"\" rel=\"noopener\">a draft decision<\/a> approved by the Madbouly cabinet in May, companies that implement green hydrogen projects within five years will receive tax breaks of 33-55% on income and pay no VAT on raw materials, plant and machinery bought for the plants. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Ambitious targets:<\/strong> Egypt wants to provide 5-8% of the world\u2019s hydrogen and reduce annual carbon emissions by 40 mn tons by 2040, according to the statement. The strategy also aims to create 100k jobs and add USD 10-18 bn to GDP by the end of the next decade.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Refresher: <\/strong>The strategy aims to provide a regulatory framework for the local production of green hydrogen and <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/b56f637f-421f-49fb-80b8-98fb0ba82403\" style=\"\" rel=\"noopener\">has been in the works<\/a> since 2021. It\u2019s being formulated by the government with help from the European Bank for Reconstruction and Development. The strategy was set to be <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/d540bbc6-24a7-45e9-893c-526498ee70f7\" style=\"\" rel=\"noopener\">unveiled<\/a> during the COP27 summit in Sharm El Sheikh last November, but has seen multiple delays.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Egypt is going big on green hydrogen:<\/strong> The government <a target=\"_blank\" href=\"https:\/\/enterprise.news\/climate\/en\/news\/story\/1f8d7402-6d05-4eae-b3b0-b5bb811be7ab\" style=\"\" rel=\"noopener\">signed several framework agreements<\/a> for green hydrogen projects over the past year, the most recent of which was with China Energy for a USD 6.75 bn plant that <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/4c54bfd4-d4fc-43ff-8bed-bbaf36445938\" style=\"\" rel=\"noopener\">will produce<\/a> 1.2 mn tons of ammonia and 210k tons of hydrogen a year.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>ALSO- Egypt exported its first shipment of certified green ammonia:<\/strong> Fertiglobe, a JV between Adnoc and the Sawiris-owned OCI, <a target=\"_blank\" href=\"https:\/\/fertiglobe.com\/fertiglobe-ships-worlds-first-iscc-plus-certified-renewable-ammonia\/\" style=\"\" rel=\"noopener\">announced<\/a> last week it had shipped the world\u2019s first ISCC PLUS-certified (International Sustainability and Carbon Certification) green ammonia. The ammonia was produced at the company\u2019s pilot green hydrogen electrolyzer in Egypt and was shipped to India where it will be used by Unilever to produce soda ash.<\/p>\n\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/energy\/\">energy<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/fertiglobe\/\">Fertiglobe<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/green-ammonia\/\">green ammonia<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/green-hydrogen\/\">green hydrogen<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/renewables\/\">renewables<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                    <\/div>\n    <\/div>\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"610682\" 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=\"610682\">\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\">Economy<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2023\/11\/26\/get-paid-in-fx-pay-vat-in-fx\/\">\r\n                            Egypt to collect VAT in FX                        <\/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\/26\/get-paid-in-fx-pay-vat-in-fx\/\" 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\/26\/get-paid-in-fx-pay-vat-in-fx\/')\">\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\/26\/get-paid-in-fx-pay-vat-in-fx\/\">\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=Get paid in FX? Pay VAT in FX&url=https:\/\/enterpriseam.com\/egypt\/2023\/11\/26\/get-paid-in-fx-pay-vat-in-fx\/\">\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\/26\/get-paid-in-fx-pay-vat-in-fx\/&title=Get paid in FX? Pay VAT in FX\">\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=Get+paid+in+FX%3F+Pay+VAT+in+FX+https%3A%2F%2Fenterpriseam.com%2Fegypt%2F2023%2F11%2F26%2Fget-paid-in-fx-pay-vat-in-fx%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\/26\/get-paid-in-fx-pay-vat-in-fx\/\">\r\n                    <div class=\"photo photo--above\">\r\n                        <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2023\/11\/1333.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"610683\" data-permalink=\"https:\/\/enterpriseam.com\/egypt\/2023\/11\/26\/get-paid-in-fx-pay-vat-in-fx\/1333-jpg-4\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2023\/11\/1333.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"1333.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2023\/11\/1333.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2023\/11\/1333.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-610682\" class=\"content-area-description single-story post-610682 post type-post status-publish format-standard has-post-thumbnail hentry category-economy tag-economy tag-enterpriseam tag-foreign-exchange tag-tax tag-vat 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\/.c3ca81a1-0eda-4c50-a068-d1e6f935c956.mp3\"><\/audio><\/figure>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"> <strong>Sellers are now required to settle their value-added tax (VAT) dues in FX<\/strong> if the service or product they offer is invoiced or paid for in foreign currency, according to <a target=\"_blank\" href=\"https:\/\/ent.news\/2023\/11\/1328.jpeg\" style=\"\" rel=\"noopener\">a regulatory amendment (pdf)<\/a> to the Unified Tax Law introduced by the Finance Ministry on Wednesday. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>There\u2019s a bit of flexibility:<\/strong> Businesses can settle their foreign-currency VAT dues in local currency if they present evidence that they\u2019ve exchanged FX worth the same amount or more than the value of the VAT within a month of the sale being booked.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>What\u2019s next:<\/strong> The amendment will go into effect a day after being published in the Official Gazette.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>BACKGROUND- <\/strong>The move is the latest in a string of government measures designed to drum up hard currency in response to the ongoing FX crunch. The shortage of hard currency has triggered the reemergence of a black market, where the EGP has sunk to record lows against the USD in recent days. The currency is currently trading hands at more than 50.0 \/ USD in the parallel market, almost 40% lower than the official rate.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>ALSO- <\/strong><strong>Real-estate-for-fx scheme to extend to the private sector:<\/strong> The government is working on an initiative that could allow Egyptian expats and foreigners to purchase properties from private-sector real estate developers in FX, according to a <a target=\"_blank\" href=\"https:\/\/tinyurl.com\/fw9ubbym\" style=\"\" rel=\"noopener\">cabinet statement<\/a> on Thursday.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Remember:<\/strong> The cabinet approved a decision in July to <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/a254b1c5-fe22-492c-9e39-d5be1a93b2cc\" style=\"\" rel=\"noopener\">remove the cap<\/a> on the number of properties foreigners can own provided that they pay for these properties in hard currency.<\/p>\n\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/economy\/\">economy<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/foreign-exchange\/\">foreign exchange<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/tax\/\">tax<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/vat\/\">VAT<\/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=\"610684\" 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=\"610684\">\r\n            \r\n                <div class=\"issue-story-header text-center\">\r\n                    <div class=\"index-number\">5<\/div>\r\n\r\n                    <p class=\"f-graphik\">WAR WATCH<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2023\/11\/26\/palestinian-israeli-prisoners-freed-as-temporary-ceasefire-goes-into-effect\/\">\r\n                            Palestinian, Israeli prisoners freed as temporary ceasefire goes into effect                        <\/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\/26\/palestinian-israeli-prisoners-freed-as-temporary-ceasefire-goes-into-effect\/\" 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\/26\/palestinian-israeli-prisoners-freed-as-temporary-ceasefire-goes-into-effect\/')\">\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\/26\/palestinian-israeli-prisoners-freed-as-temporary-ceasefire-goes-into-effect\/\">\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=Palestinian, Israeli prisoners freed as temporary ceasefire goes into effect&url=https:\/\/enterpriseam.com\/egypt\/2023\/11\/26\/palestinian-israeli-prisoners-freed-as-temporary-ceasefire-goes-into-effect\/\">\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\/26\/palestinian-israeli-prisoners-freed-as-temporary-ceasefire-goes-into-effect\/&title=Palestinian, Israeli prisoners freed as temporary ceasefire goes into effect\">\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=Palestinian%2C+Israeli+prisoners+freed+as+temporary+ceasefire+goes+into+effect+https%3A%2F%2Fenterpriseam.com%2Fegypt%2F2023%2F11%2F26%2Fpalestinian-israeli-prisoners-freed-as-temporary-ceasefire-goes-into-effect%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\/26\/palestinian-israeli-prisoners-freed-as-temporary-ceasefire-goes-into-effect\/\">\r\n                    <div class=\"photo photo--above\">\r\n                        <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2023\/11\/1348.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"610685\" data-permalink=\"https:\/\/enterpriseam.com\/egypt\/2023\/11\/26\/palestinian-israeli-prisoners-freed-as-temporary-ceasefire-goes-into-effect\/1348-jpg-5\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2023\/11\/1348.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"1348.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2023\/11\/1348.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2023\/11\/1348.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-610684\" class=\"content-area-description single-story post-610684 post type-post status-publish format-standard has-post-thumbnail hentry category-war-watch tag-abdel-fattah-el-sisi tag-diplomacy tag-enterpriseam tag-israel tag-israel-palestine-conflict tag-middle-east-politics tag-palestine tag-war-watch wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<figure class=\"wp-block-audio mb-0\"><audio controls preload=\"metadata\" src=\"https:\/\/s3.us-east-1.amazonaws.com\/ent.news\/audio\/2023\/11\/.7ce8690e-7ac8-4570-9d7b-512adf05d03e.mp3\"><\/audio><\/figure>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"> <strong>Dozens of Palestinian and Israeli prisoners have been released <\/strong><strong>in the first 48 hours of <\/strong><strong><a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/7f76de39-8948-4aaf-be87-1bdf9d3de031\" style=\"\" rel=\"noopener\">a four-day ceasefire<\/a><\/strong> that is also allowing vital supplies of aid and fuel into Gaza. Since Friday, Hamas has <a target=\"_blank\" href=\"https:\/\/twitter.com\/hamdahsalhut\/status\/1728130455340478566\" style=\"\" rel=\"noopener\">freed<\/a> 26 Israelis <a target=\"_blank\" href=\"https:\/\/twitter.com\/AJArabic\/status\/1728554066496680176\" style=\"\" rel=\"noopener\">and<\/a> 15 foreign nationals and Israel has released almost 80 Palestinians under the terms of the agreement, which was brokered by Egyptian and Qatari negotiators during weeks of talks. Some 150 Palestinians, 50 Israelis, and an unknown number of foreign nationals will be freed during the truce, which expires on Tuesday morning. Almost all of those released have been women, children and the elderly.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>A bump in the road: <\/strong>Day two of the hostage release didn\u2019t go according to plan, getting held up for several hours following a dispute between the two sides. Egypt helped resolve the impasse, Diaa Rashwan, head of Egypt\u2019s State Information Service, <a target=\"_blank\" href=\"https:\/\/tinyurl.com\/2c5y97b2\" style=\"\" rel=\"noopener\">said<\/a>.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The ceasefire has allowed critical aid into Gaza:<\/strong> The first two days of the ceasefire have allowed medical aid, food, water and fuel into Gaza after supply levels <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/9df9d63c-ed41-40db-a179-8c27b22eea46\" style=\"\" rel=\"noopener\">neared zero<\/a> last week. Aid trucks have increased to around <a target=\"_blank\" href=\"https:\/\/www.facebook.com\/StateInformationService\/posts\/pfbid02Q82rCDuci3EMw2T6CsdtdxjnUM3DXeRHtyo76GNncf8EwJLPLQGnzsKQeZyJzx1hl\" style=\"\" rel=\"noopener\">200 per day<\/a>, though this remains far below the 500 trucks that crossed the border before the war, with the Palestinian Red Crescent <a target=\"_blank\" href=\"https:\/\/twitter.com\/PalestineRCS\/status\/1728173985949499581\" style=\"\" rel=\"noopener\">saying yesterday<\/a> that it does \u201cnot even scratch the surface\u201d of the needs of Gaza\u2019s 2.3 mn population. Israel is also allowing 130k liters of fuel a day into the enclave yet this is still just over 10% of pre-war volumes.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>An extended temporary truce could be in the cards:<\/strong> Egypt had received \u2018positive signs\u2019 of a one- or two-day extension on the ceasefire during intensive negotiations, which would also spell out the release of more hostages in Gaza and Palestinian prisoners in Israeli prisons, Rashwan <a target=\"_blank\" href=\"https:\/\/tinyurl.com\/4e9e5b7w\" style=\"\" rel=\"noopener\">said<\/a> yesterday. Under the truce, Israel agreed to extend the ceasefire by one day for every 10 additional hostages released by Hamas.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The likelihood this will be anything other than temporary is remote:<\/strong> Israeli officials have been at pains to emphasize that the truce is temporary and that they will resume their devastating air and ground assault on Gaza in a few days. Defense Minister Yoav Gallant reiterated his goal to completely destroy Hamas and said the IDF could continue the war for another two or three months.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Despite growing diplomatic pressure on Israel from allies:<\/strong> Officials from several European governments have used the lull in the fighting to intensify their criticism of Israel\u2019s war, with the Spanish prime minister accusing it of indiscriminate violence and calling for a Palestinian state at a press conference at the Rafah crossing (<a target=\"_blank\" href=\"https:\/\/www.youtube.com\/watch?v=n_HX0vZ5THg\" style=\"\" rel=\"noopener\">watch, runtime: 17:35<\/a>). In return, Israel <a target=\"_blank\" href=\"https:\/\/www.ft.com\/content\/2529d2d6-4eba-4078-ba49-0a5e80b6af6b\" style=\"\" rel=\"noopener\">accused<\/a> Spain and Belgium \u2014 whose prime minister was also at the presser \u2014 of supporting terrorism. The UK has adopted a more critical tone, with the country\u2019s new foreign secretary David Cameron calling the expulsion of Palestinians in the West Bank by extremist settlers \u201c <a target=\"_blank\" href=\"https:\/\/www.bbc.com\/news\/uk-politics-67518614\" style=\"\" rel=\"noopener\">completely unacceptable<\/a>.\u201d<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>El Sisi calls for demilitarized Palestinian state: <\/strong>A future Palestinian state could be demilitarized, with international forces temporarily in place to guarantee security for Egypt and Israel, President Abdel Fattah El Sisi told a press conference in Cairo on Friday, (<a target=\"_blank\" href=\"https:\/\/www.youtube.com\/watch?v=n_HX0vZ5THg\" style=\"\" rel=\"noopener\">watch, runtime: 17:35<\/a>). \u201cWe said that we are ready for this state to be demilitarized, and there can also be guarantees of forces, whether Nato forces, UN forces, or Arab or American forces, until we achieve security for both states, the nascent Palestinian state and the Israeli state,\" he said, alongside the Spanish and Belgian prime ministers.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>DIPLOMACY-<\/strong><a target=\"_blank\" href=\"https:\/\/www.google.com\/url?q=https:\/\/www.whitehouse.gov\/briefing-room\/statements-releases\/2023\/11\/22\/readout-of-president-bidens-call-with-president-abdel-fattah-al-sisi-of-egypt-2\/&sa=D&source=editors&ust=1700974636730452&usg=AOvVaw0NKptiwAUDOkp6aJ7RC9_w\" style=\"\" rel=\"noopener\">Biden to El Sisi<\/a>: No Gaza displacement \u201cunder any circumstances\u201d | Arab and Islamic ministers push for permanent ceasefire in <a target=\"_blank\" href=\"https:\/\/www.google.com\/url?q=https:\/\/tinyurl.com\/38k8tzrf&sa=D&source=editors&ust=1700974636730626&usg=AOvVaw3Bq7KEUPYxCfSn2_xVTdxg\" style=\"\" rel=\"noopener\">London<\/a> and <a target=\"_blank\" href=\"https:\/\/www.google.com\/url?q=https:\/\/tinyurl.com\/3hptjjdj&sa=D&source=editors&ust=1700974636730772&usg=AOvVaw2vmXdq-2z2z_AciPDmjZZq\" style=\"\" rel=\"noopener\">Paris<\/a>.<\/p>\n\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/abdel-fattah-el-sisi\/\">Abdel Fattah El Sisi<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/diplomacy\/\">DIPLOMACY<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/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=\"610686\" 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=\"610686\">\r\n            \r\n                <div class=\"issue-story-header text-center\">\r\n                    <div class=\"index-number\">6<\/div>\r\n\r\n                    <p class=\"f-graphik\">Economy<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2023\/11\/26\/fitch-downgrades-egyptian-banks-operating-environment-score-on-ties-to-sovereign-debt\/\">\r\n                            Fitch downgrades Egyptian banks\u2019 operating environment score on ties to sovereign debt                        <\/a>\r\n                    <\/h3>\r\n\r\n                    \r\n\t\t\t\t\t\n<div class=\"cta\">\n    <div class=\"cta__btn share-dropdown-cta dropdown-toggle-btn\" style=\"position:relative\">\n        <img decoding=\"async\" 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data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2023\/11\/1342.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"1342.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2023\/11\/1342.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2023\/11\/1342.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-610686\" class=\"content-area-description single-story post-610686 post type-post status-publish format-standard has-post-thumbnail hentry category-economy tag-banking tag-banque-du-caire tag-banque-misr tag-cib tag-economy tag-enterpriseam tag-fitch tag-fitch-ratings tag-foreign-exchange tag-national-bank-of-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\/.6e751ecd-5427-4afa-a66e-2df4f1dfbcd5.mp3\"><\/audio><\/figure>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"> <strong>Fitch offers new warning on Egyptian banks: <\/strong>Fitch Ratings has downgraded the operating environment score of four of Egypt\u2019s biggest banks on the back of their high exposure to sovereign debt, the rating agency <a target=\"_blank\" href=\"https:\/\/tinyurl.com\/y968rz57\" style=\"\" rel=\"noopener\">said<\/a> Wednesday. This follows on the heels of its decision to <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/9dd47b4b-5995-4497-94b6-6d9d4bf39af7\" style=\"\" rel=\"noopener\">downgrade Egypt\u2019s sovereign credit rating<\/a> earlier this month.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Gauging the operating environment: <\/strong>Fitch measures the operating environment by assessing \u201cthe ability of banks to generate business volumes while taking on acceptable levels of risk.\u201d It does this by looking at the GDP per capita of a country and its <a target=\"_blank\" href=\"https:\/\/www.fitchsolutions.com\/sites\/default\/files\/2021-08\/DC-6326-FS_OP-Risk-Methodology-Doc-Update.pdf\" style=\"\" rel=\"noopener\">operational risk index (pdf)<\/a>.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The downgrade: <\/strong>Fitch lowered the score of the National Bank of Egypt, Banque Misr, Banque du Caire, and CIB to \u2018B-\u2019 from \u2018B\u2019 and revised its outlook to stable from negative. Fitch <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/04e2ed79-61e4-47bf-b066-37b85ef38093\" style=\"\" rel=\"noopener\">cut the credit ratings<\/a> of the banks earlier this month after downgrading its rating for Egypt\u2019s sovereign debt. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The rationale:<\/strong><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>#1- Banks are exposed to sovereign debt:<\/strong> \u201cThe operating environment score is in line with the sovereign rating as operating conditions for banks are highly correlated with the sovereign profile,\u201d the rating agency said. Fitch estimates that almost 50% of the total assets of Egypt\u2019s banking sector are invested in government debt, creating a significant exposure.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>#2- The currency crisis is weighing on investor confidence: <\/strong>The rating agency doesn\u2019t expect a significant increase in FX inflows in 2024 due to weak investor confidence caused by the FX crunch, an overvalued currency, and slow progress on structure reforms. As a result, it forecasts the banking sector\u2019s net foreign asset position to remain negative through next year.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>What they said:<\/strong>High inflation, currency pressure, and geopolitical uncertainties are also affecting investor confidence in Egypt, Redmond Ramsdale, Fitch\u2019s head of Middle East Bank Ratings, told <a target=\"_blank\" href=\"https:\/\/twitter.com\/asharqbegy\/status\/1727620199963050063?s=46&t=-JTomFjF7zfyHQWGsd4tSw\" style=\"\" rel=\"noopener\">Asharq Business<\/a> in an interview. He went on to predict 3.5% growth in Egypt\u2019s GDP in the current FY 2023-2024, lower than the government\u2019s <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/0d289316-dd69-4504-a2ae-cfa6bcbf94b7\" style=\"\" rel=\"noopener\">most recent forecast<\/a> for 4.2% growth. <\/p>\n\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/banking\/\">banking<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/banque-du-caire\/\">Banque du Caire<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/banque-misr\/\">Banque Misr<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/cib\/\">CIB<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/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\/fitch-ratings\/\">Fitch Ratings<\/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\/national-bank-of-egypt\/\">National Bank of 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=\"610688\" 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=\"610688\">\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\">Startup watch<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2023\/11\/26\/wayup-sports-closes-seed-round-led-by-beltones-vc-arm\/\">\r\n                            WayUp Sports closes seed round led by Beltone\u2019s VC arm                        <\/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\/26\/wayup-sports-closes-seed-round-led-by-beltones-vc-arm\/\" 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\/26\/wayup-sports-closes-seed-round-led-by-beltones-vc-arm\/')\">\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\/26\/wayup-sports-closes-seed-round-led-by-beltones-vc-arm\/\">\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=WayUp Sports closes seed round led by Beltone\u2019s VC arm&url=https:\/\/enterpriseam.com\/egypt\/2023\/11\/26\/wayup-sports-closes-seed-round-led-by-beltones-vc-arm\/\">\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\/26\/wayup-sports-closes-seed-round-led-by-beltones-vc-arm\/&title=WayUp Sports closes seed round led by Beltone\u2019s VC arm\">\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=WayUp+Sports+closes+seed+round+led+by+Beltone%E2%80%99s+VC+arm+https%3A%2F%2Fenterpriseam.com%2Fegypt%2F2023%2F11%2F26%2Fwayup-sports-closes-seed-round-led-by-beltones-vc-arm%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\/26\/wayup-sports-closes-seed-round-led-by-beltones-vc-arm\/\">\r\n                    <div class=\"photo photo--above\">\r\n                        <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2023\/11\/1281.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"610689\" data-permalink=\"https:\/\/enterpriseam.com\/egypt\/2023\/11\/26\/wayup-sports-closes-seed-round-led-by-beltones-vc-arm\/1281-jpg-7\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2023\/11\/1281.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"1281.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2023\/11\/1281.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2023\/11\/1281.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-610688\" class=\"content-area-description single-story post-610688 post type-post status-publish format-standard has-post-thumbnail hentry category-startup-watch tag-beltone-financial tag-beltone-venture-capital tag-e-commerce tag-enterpriseam tag-startup-watch tag-startups tag-venture-capital tag-wayup-sports 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\/.a1e41215-eee3-4b00-8820-8295c1de707f.mp3\"><\/audio><\/figure>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"> <strong>Beltone\u2019s VC arm leads seed round for WayUp Sports<\/strong><strong>:<\/strong> Sports apparel e-commerce platform <a target=\"_blank\" href=\"https:\/\/wayupsports.com\/\" style=\"\" rel=\"noopener\">WayUp Sports<\/a> has closed a seed round led by <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/7fc94bfc-608b-48b6-a28b-cfa610c0f024\" style=\"\" rel=\"noopener\">Beltone Venture Capital<\/a>, Index Sports Fund \u2014 a private equity fund focused on the sports sector in MENA \u2014 and a number of angel investors, the company said in <a target=\"_blank\" href=\"https:\/\/ent.news\/2023\/11\/1251.pdf\" style=\"\" rel=\"noopener\">a statement (pdf)<\/a>. Neither the company nor the investors would specify the size of the round.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>WayUp: <\/strong>Founded in 2021 by siblings Omar (<a target=\"_blank\" href=\"https:\/\/www.linkedin.com\/in\/omar-afifi-a83890218\/\" style=\"\" rel=\"noopener\">LinkedIn<\/a>), Mohamed (<a target=\"_blank\" href=\"https:\/\/www.linkedin.com\/in\/mohamed-afifi-379496216\/\" style=\"\" rel=\"noopener\">LinkedIn<\/a>), and Basma Afifi (<a target=\"_blank\" href=\"https:\/\/www.linkedin.com\/in\/basma-afifi-559349220\/\" style=\"\" rel=\"noopener\">LinkedIn<\/a>), WayUp Sports offers sportswear and equipment from both local and international brands. The company currently serves over 100k customers and has partnered with more than 70 brands. The company\u2019s sales have grown nine times since it closed its pre-seed round in 2022.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Where the money\u2019s going: <\/strong>The investment will help the company expand across the region, launch its own brand, and upgrade its website and application to enhance user experience. \u201cWe are exploring Arab countries and we are aiming to tap our first market in 2024 \u2026 and launch the brand in 2Q 2024,\u201d co-founder and co-CEO Mohamed Afifi told Enterprise.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>There\u2019s more where that came from:<\/strong>The company intends to raise more funds in 1Q 2024, Afifi told us, without disclosing how much the company is targeting.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The sportswear market is on its way up, too:<\/strong> The MENA region\u2019s sports apparel market is forecasted to grow to USD 23 bn by 2029 from USD 15 bn in 2021, according to the statement.<\/p>\n\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/beltone-financial\/\">Beltone Financial<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/beltone-venture-capital\/\">Beltone Venture Capital<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/e-commerce\/\">e-commerce<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/startup-watch\/\">Startup watch<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/startups\/\">startups<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/venture-capital\/\">venture capital<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/wayup-sports\/\">WayUp Sports<\/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=\"610690 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=\"610690\">\r\n            \r\n            <div class=\"story__body\">\r\n\r\n                <a href=\"https:\/\/enterpriseam.com\/egypt\/2023\/11\/26\/610690\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-610690\" class=\"content-area-description single-story post-610690 post type-post status-publish format-standard hentry category-advertiser wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<p><span style=\"font-weight:400;\"><a href=\"https:\/\/www.sodic.com\/SodicSignatureCommunities#THEESTATESResidences\" target=\"_blank\" rel=\"noopener\"><img data-recalc-dims=\"1\" decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2023\/10\/415.jpg?ssl=1\"><\/a><\/span><\/p>\n\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"610691\" 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=\"610691\">\r\n            \r\n                <div class=\"issue-story-header text-center\">\r\n                    <div class=\"index-number\">8<\/div>\r\n\r\n                    <p class=\"f-graphik\">LAST NIGHT\u2019S TALK SHOWS<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2023\/11\/26\/hamas-israel-hostage-swap-dominates-the-airwaves\/\">\r\n                            Hamas-Israel hostage swap dominates the coverage on Egypt\u2019s talk shows                        <\/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\/26\/hamas-israel-hostage-swap-dominates-the-airwaves\/\" target=\"_blank\">\n                    Open in new tab                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/new-tab.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a href=\"#\" target=\"_blank\" onclick=\"event.preventDefault(); 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data-image-meta=\"[]\" data-image-title=\"1353.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2023\/11\/1353.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2023\/11\/1353.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-610691\" class=\"content-area-description single-story post-610691 post type-post status-publish format-standard has-post-thumbnail hentry category-last-nights-talk-shows tag-election-2023 tag-enterpriseam tag-israel-palestine-conflict tag-last-nights-talk-shows tag-politics wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<figure class=\"wp-block-audio mb-0\"><audio controls preload=\"metadata\" src=\"https:\/\/s3.us-east-1.amazonaws.com\/ent.news\/audio\/2023\/11\/.d3197be1-8934-403f-ad53-d5c08f518bb6.mp3\"><\/audio><\/figure>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Grabbing the attention of the talking heads last night <\/strong>The hostage swap between Hamas and Israel, the upcoming presidential elections, and rising cigarette prices. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>All quiet on the Rafah front: <\/strong>On Day 2 of the temporary ceasefire, Al Qahera News correspondent Yasser Abdel Setar told Lamees El Hadidi that there was a \u201ccomplete silence\u201d at the border since the truce had begun on Friday. Sixty-one aid trucks had entered Gaza in what was the biggest convoy since 7 October, he added (<a target=\"_blank\" href=\"https:\/\/tinyurl.com\/yfjhh5ku\" style=\"\" rel=\"noopener\">watch, runtime: 9:25<\/a>). Hadidi also spoke to Walaa El Salmeen from Al Qahera News, who described the scene at Ofer Prison in Ramallah, where Palestinian prisoners were released at the weekend (<a target=\"_blank\" href=\"https:\/\/tinyurl.com\/2s3scj6n\" style=\"\" rel=\"noopener\">watch, runtime: 8:50<\/a>). We\u2019ve got coverage of the full story above.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Hamas spox explains the delay in releasing hostages: <\/strong>Appearing on El Hekaya, Hamas media advisor Taher El Nounou explained that the armed group had delayed releasing the hostages for a few hours yesterday because Israel didn\u2019t hold up its end of the bargain. Among its list of grievances included breaching the ceasefire, releasing fewer women from Israeli prisons than had been pre-agreed, and restricting the number of trucks that were allowed to enter northern Gaza (<a target=\"_blank\" href=\"https:\/\/tinyurl.com\/yc6f57h4\" style=\"\" rel=\"noopener\">watch, runtime: 6:46<\/a>). Meanwhile, Alaa Masouleety spoke to head of the State Information Service Diaa Rashwan (<a target=\"_blank\" href=\"https:\/\/www.youtube.com\/watch?v=647CGRhr4rg\" style=\"\" rel=\"noopener\">watch, runtime: 11:19<\/a>), who reiterated statements made earlier that day on Egypt\u2019s role in the hostage exchange and the possibility of extending the truce. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Election 2023:<\/strong> The presidential election, now just days away, got attention on the airwaves last night. Al Hayah Al Youm followed the campaigns of the four candidates Hazem Omar (<a target=\"_blank\" href=\"https:\/\/www.youtube.com\/watch?v=y-XWj5MAIhw\" style=\"\" rel=\"noopener\">watch, runtime: 0:33<\/a>); Farid Zahran (<a target=\"_blank\" href=\"https:\/\/www.youtube.com\/watch?v=y-XWj5MAIhw\" style=\"\" rel=\"noopener\">watch, runtime: 0:27<\/a>); Abdel Sanad Yamama (<a target=\"_blank\" href=\"https:\/\/www.youtube.com\/watch?v=NrkQ9jhkjsE\" style=\"\" rel=\"noopener\">watch, runtime: 0:27<\/a>); and President Abdel Fatah El Sisi (<a target=\"_blank\" href=\"https:\/\/www.youtube.com\/watch?v=NrkQ9jhkjsE\" style=\"\" rel=\"noopener\">watch, runtime: 1:19<\/a>). Elections will run between 10-12 December at home while polls will be open on 1-3 December for Egyptian expats. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Masks out:<\/strong> Expect <a target=\"_blank\" href=\"https:\/\/tinyurl.com\/mr45ey6u\" style=\"\" rel=\"noopener\">bad weather<\/a> in the nation\u2019s capital today, with high winds of 50 km\/h likely stirring up dust and sand, Egyptian Meteorological Authority official Manar Ghanem told El Hekaya\u2019s Amr Adib. Most governorates will experience moderate temperatures this week, with Cairo at 25\u00b0C today, the North Coast at 24\u00b0C, and Sinai at 31\u00b0C (<a target=\"_blank\" href=\"https:\/\/www.youtube.com\/watch?v=vfo1hqvkzyc\" style=\"\" rel=\"noopener\">watch, runtime: 3:26<\/a>).<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Undercover smoker:<\/strong> Amr Adib dedicated more airtime to discussing soaring <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/c647b139-705c-4a7f-b101-4cde68005f07\" style=\"\" rel=\"noopener\">cigarette prices<\/a>, and sent out an undercover reporter to investigate the prices at various local stores and stalls. (<a target=\"_blank\" href=\"https:\/\/www.youtube.com\/watch?v=ozfvLzQ3cKk\" style=\"\" rel=\"noopener\">watch, runtime: 6:38<\/a>) <\/p>\n\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/election-2023\/\">Election 2023<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/israel-palestine-conflict\/\">Israel-Palestine conflict<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/last-nights-talk-shows\/\">LAST NIGHT\u2019S TALK SHOWS<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/politics\/\">politics<\/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=\"610693\" 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-swx624y\" data-v=\"4\" data-block-id=\"swx624y\"><div class=\"stk-column-wrapper stk-block-column__content stk-container stk-swx624y-container stk--no-background stk--no-padding\"><div class=\"stk-block-content stk-inner-blocks stk-swx624y-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            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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-xj6ax9l\" data-v=\"4\" data-block-id=\"xj6ax9l\"><div class=\"stk-column-wrapper stk-block-column__content stk-container stk-xj6ax9l-container stk--no-background stk--no-padding\"><div class=\"stk-block-content stk-inner-blocks stk-xj6ax9l-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=\"M285.476 272.971L91.132 467.314c-9.373 9.373-24.569 9.373-33.941 0l-22.667-22.667c-9.357-9.357-9.375-24.522-.04-33.901L188.505 256 34.484 101.255c-9.335-9.379-9.317-24.544.04-33.901l22.667-22.667c9.373-9.373 24.569-9.373 33.941 0L285.475 239.03c9.373 9.372 9.373 24.568.001 33.941z\"><\/path><\/svg><\/button><\/div><\/div><div class=\"stk-block-carousel__dots\" role=\"list\" data-label=\"Slide %%d\"><\/div><\/div><\/div>\r\n        <\/div>\r\n<\/section> \r\n\r\n\n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"610694\" 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=\"610694\">\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\">EGYPT IN THE NEWS<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2023\/11\/26\/western-brands-are-feeling-the-heat-in-egypt-as-gaza-boycott-spreads\/\">\r\n                            Western brands are feeling the heat in Egypt as Gaza boycott spreads                        <\/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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<\/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\/26\/western-brands-are-feeling-the-heat-in-egypt-as-gaza-boycott-spreads\/\">\r\n                    <div class=\"photo photo--above\">\r\n                        <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2023\/11\/1344.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"610695\" data-permalink=\"https:\/\/enterpriseam.com\/egypt\/2023\/11\/26\/western-brands-are-feeling-the-heat-in-egypt-as-gaza-boycott-spreads\/1344-jpg-3\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2023\/11\/1344.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"1344.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2023\/11\/1344.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2023\/11\/1344.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-610694\" class=\"content-area-description single-story post-610694 post type-post status-publish format-standard has-post-thumbnail hentry category-egypt-in-the-news tag-enterpriseam tag-israel-palestine-conflict wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<figure class=\"wp-block-audio mb-0\"><audio controls preload=\"metadata\" src=\"https:\/\/s3.us-east-1.amazonaws.com\/ent.news\/audio\/2023\/11\/.0ba448f9-890c-437c-8303-5264e685f7c1.mp3\"><\/audio><\/figure>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>It\u2019s a quiet morning in the foreign press as far as Egypt is concerned:<\/strong><a target=\"_blank\" href=\"https:\/\/www.reuters.com\/business\/retail-consumer\/boycott-campaigns-over-gaza-war-hit-western-brands-some-arab-countries-2023-11-22\/\" style=\"\" rel=\"noopener\">Reuters<\/a> covers the spreading boycott of Western goods perceived to be aligned in Israel.<\/p>\n\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/israel-palestine-conflict\/\">Israel-Palestine conflict<\/a>\n                <!-- <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=\"610696\" 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=\"610696\">\r\n            \r\n                <div class=\"issue-story-header text-center\">\r\n                    <div class=\"index-number\">10<\/div>\r\n\r\n                    <p class=\"f-graphik\">Also on our Radar<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2023\/11\/26\/bids-roll-in-for-the-fras-credit-rating-license-plus-arab-agri-investment-megamind-and-gulf-nations\/\">\r\n                            Bids roll in for the FRA\u2019s credit rating license. PLUS: Lots of investment news from the Arab agricultural authority, Megamind, and Gulf nations                        <\/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\/26\/bids-roll-in-for-the-fras-credit-rating-license-plus-arab-agri-investment-megamind-and-gulf-nations\/\" 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\/26\/bids-roll-in-for-the-fras-credit-rating-license-plus-arab-agri-investment-megamind-and-gulf-nations\/')\">\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\/26\/bids-roll-in-for-the-fras-credit-rating-license-plus-arab-agri-investment-megamind-and-gulf-nations\/\">\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=Bids roll in for the FRA\u2019s credit rating license. PLUS: Arab agri investment, Megamind, and Gulf nations&url=https:\/\/enterpriseam.com\/egypt\/2023\/11\/26\/bids-roll-in-for-the-fras-credit-rating-license-plus-arab-agri-investment-megamind-and-gulf-nations\/\">\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\/26\/bids-roll-in-for-the-fras-credit-rating-license-plus-arab-agri-investment-megamind-and-gulf-nations\/&title=Bids roll in for the FRA\u2019s credit rating license. PLUS: Arab agri investment, Megamind, and Gulf nations\">\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=Bids+roll+in+for+the+FRA%E2%80%99s+credit+rating+license.+PLUS%3A+Arab+agri+investment%2C+Megamind%2C+and+Gulf+nations+https%3A%2F%2Fenterpriseam.com%2Fegypt%2F2023%2F11%2F26%2Fbids-roll-in-for-the-fras-credit-rating-license-plus-arab-agri-investment-megamind-and-gulf-nations%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\/26\/bids-roll-in-for-the-fras-credit-rating-license-plus-arab-agri-investment-megamind-and-gulf-nations\/\">\r\n                    <div class=\"photo photo--above\">\r\n                        <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2023\/11\/1352.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"610697\" data-permalink=\"https:\/\/enterpriseam.com\/egypt\/2023\/11\/26\/bids-roll-in-for-the-fras-credit-rating-license-plus-arab-agri-investment-megamind-and-gulf-nations\/1352-jpg-2\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2023\/11\/1352.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"1352.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2023\/11\/1352.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2023\/11\/1352.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-610696\" class=\"content-area-description single-story post-610696 post type-post status-publish format-standard has-post-thumbnail hentry category-also-on-our-radar tag-also-on-our-radar tag-central-bank-of-egypt tag-dry-ports tag-energy tag-enterpriseam tag-financial-regulatory-authority tag-infrastructure tag-regulation-watch tag-renewables wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<figure class=\"wp-block-audio mb-0\"><audio controls preload=\"metadata\" src=\"https:\/\/s3.us-east-1.amazonaws.com\/ent.news\/audio\/2023\/11\/.df31a915-242b-49ce-86a1-44d4e03c5b09.mp3\"><\/audio><\/figure>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>FINANCIAL SERVICES- <\/strong><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Three consortiums have submitted bids for the credit rating license offered by the <\/strong><strong>Financial Regulatory Authority (FRA)<\/strong>, including a joint bid from Beltone Financial Holding and Italy-based CRIF Ratings; MGM Financial Banking and Consultants and India-based Infomerics Valuation and Rating; and a third one from the state-backed credit bureau I-Score and S&P, the regulator said in <a target=\"_blank\" href=\"https:\/\/ent.news\/2023\/11\/1336.pdf\" style=\"\" rel=\"noopener\">a statement (pdf)<\/a>.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>What\u2019s next:<\/strong>The chosen consortium will be announced before the end of the year, FRA Deputy Chairman Islam Azzam told <a target=\"_blank\" href=\"https:\/\/tinyurl.com\/37kmtnzf\" style=\"\" rel=\"noopener\">Asharq Business<\/a>.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>FYI- <\/strong><strong>CBE out with new regs: <\/strong>The Central Bank of Egypt (CBE) has issued a set of <a target=\"_blank\" href=\"https:\/\/ent.news\/2023\/11\/1340.pdf\" style=\"\" rel=\"noopener\">regulations<\/a><a target=\"_blank\" href=\"https:\/\/ent.news\/2023\/11\/1340.pdf\" style=\"\" rel=\"noopener\">(pdf)<\/a> for credit rating agencies, giving firms a 12-month period to make sure their operations abide by the new rules.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Refresher: <\/strong>The application for the FRA\u2019s license opened in August, allowing a <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/dfa5e60a-6249-4c47-9cb4-66c872931c1e\" style=\"\" rel=\"noopener\">new local credit<\/a><a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/dfa5e60a-6249-4c47-9cb4-66c872931c1e\" style=\"\" rel=\"noopener\">rating agency<\/a> to step in with only one license up for grabs. The Middle East Rating and Investors Service (MERIS) is currently our only credit rating agency.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>INVESTMENT-<\/strong><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>#1- Arab agricultural authority to invest USD 100 mn in Egypt<\/strong>: The pan-Arab <a target=\"_blank\" href=\"https:\/\/www.aaaid.org\/\" style=\"\" rel=\"noopener\">Arab<\/a><a target=\"_blank\" href=\"https:\/\/www.aaaid.org\/\" style=\"\" rel=\"noopener\">Authority for<\/a><a target=\"_blank\" href=\"https:\/\/www.aaaid.org\/\" style=\"\" rel=\"noopener\">Agricultural Investment and Development<\/a> (AAAID) is planning to invest USD 100 mn in Egypt over the next three years, the authority\u2019s chief Mohamed bin Obaid Al Mazrooei told <a target=\"_blank\" href=\"https:\/\/tinyurl.com\/p7zf9xx4\" style=\"\" rel=\"noopener\">Asharq Business<\/a> on the sidelines of the Gulf-Egyptian Business Forum during the weekend. The AAAID is interested in agricultural crops and livestock production, with a focus on sugar, oils, dairy, and grains.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>#2- Megamind eyeing EGP 4 bn investment in healthcare automation:<\/strong>Saudi-based IT services and consulting firm <a target=\"_blank\" href=\"https:\/\/www.megamind-it.com\/\" style=\"\" rel=\"noopener\">Megamind<\/a> is in talks to implement a EGP 4 bn project aimed at automating Egypt\u2019s healthcare sector, CEO Hamza Batterjee told <a target=\"_blank\" href=\"https:\/\/tinyurl.com\/2mvfpn2h\" style=\"\" rel=\"noopener\">Al Mal<\/a> last week without elaborating.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Megamind is no stranger to Egypt:<\/strong> Megamind, which has two offices in Egypt, has implemented automation projects for the Saudi German Hospital in Cairo and Alexandria.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>#3- Is something finally happening with the proposed Egypt-Oman investment <\/strong><strong>fund?<\/strong>Egypt and Oman are in talks to establish a fund for investing in sectors of agriculture, manufacturing, food, and pharma, the Planning Ministry <a target=\"_blank\" href=\"https:\/\/tinyurl.com\/3xreutx4\" style=\"\" rel=\"noopener\">said<\/a> Friday following trade talks. <strong>The two countries have been talking about this for a while:<\/strong> The idea for a joint fund first surfaced <a target=\"_blank\" href=\"https:\/\/enterprise.press\/stories\/2018\/02\/07\/egypt-oman-to-set-up-joint-investment-fund\/\" style=\"\" rel=\"noopener\">back in 2018<\/a>, <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>#4-Speaking of potential Gulf investments: <\/strong>During its time in Cairo to partake in the Egyptian-Bahraini Government Committee, a Bahraini delegation met with a number of Egyptian officials including Prime Minister Moustafa Madbouly to discuss potential investment opportunities in tourism, aluminum, and postal services. The Bahraini side <a target=\"_blank\" href=\"https:\/\/bit.ly\/47MqpYo\" style=\"\" rel=\"noopener\">pledged to double trade exchange<\/a> between the two countries to USD 1 bn and the two sides reached agreements on a number of undisclosed MoUs and initiatives. The delegation also discussed potential investments with the <a target=\"_blank\" href=\"https:\/\/bit.ly\/3GhartG\" style=\"\" rel=\"noopener\">SCZone head Walid Gamal El Din<\/a> and <a target=\"_blank\" href=\"https:\/\/bit.ly\/47RlaGQ\" style=\"\" rel=\"noopener\">Trade Minister Ahmed Samir<\/a>. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>We\u2019re gearing up for a lot of investments from the Gulf<\/strong>, especially <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/69b8b91f-c578-46f3-be19-8ddb6345359a\" style=\"\" rel=\"noopener\">Saudi investors<\/a>, who have expressed interest in spending over a <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/326d2671-23ba-4fcd-9f4c-660eea5a05ec\" style=\"\" rel=\"noopener\">combined USD 2 bn<\/a> in Egyptian investments last week. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>CABINET WATCH-<\/strong><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Cabinet earmarks land in New Valley and Aswan to set up renewable energy <\/strong><strong>stations:<\/strong> Ministers approved allocating a 10k sq km land plot in the New Valley governorate and a 46.7 sq km plot in Benban to the New and Renewable Energy Authority (NREA) to build renewable energy stations, <a target=\"_blank\" href=\"https:\/\/bit.ly\/47GFbQE\" style=\"\" rel=\"noopener\">the cabinet said<\/a> Wednesday, without giving further details.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>AND- East Qantara is getting a dry port:<\/strong> The cabinet also approved a decision to establish a dry port in East Qantara in Ismailia governorate.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>REGULATION-<\/strong><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The CBE\u2019s anti-money laundering unit just got more powerful: <\/strong>The Central Bank of Egypt (CBE) has published the new <a target=\"_blank\" href=\"https:\/\/ent.news\/2023\/11\/1335.pdf\" style=\"\" rel=\"noopener\">executive regulations (pdf)<\/a> for the Anti Money Laundering (AML) Act. The amended regulations authorize the government\u2019s AML and terrorism funding unit to implement the law, deciding the legal requirements to be imposed on financial institutions and businesses and handling interagency communications. Prime Minister Moustafa Madbouly <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/1e9e64dd-9dc2-4cd4-bb9c-f288f9605dcc\" style=\"\" rel=\"noopener\">approved<\/a> amendments in September.<\/p>\n\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/also-on-our-radar\/\">ALSO ON OUR RADAR<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/central-bank-of-egypt\/\">Central Bank of Egypt<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/dry-ports\/\">dry ports<\/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\/financial-regulatory-authority\/\">Financial Regulatory Authority<\/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\/regulation-watch\/\">regulation watch<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/renewables\/\">renewables<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                    <\/div>\n    <\/div>\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"610698\" 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=\"610698\">\r\n            \r\n                <div class=\"issue-story-header text-center\">\r\n                    <div class=\"index-number\">11<\/div>\r\n\r\n                    <p class=\"f-graphik\">PLANET FINANCE<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2023\/11\/26\/us-gives-gulf-wealth-funds-the-side-eye-over-china-dealings\/\">\r\n                            US gives Gulf wealth funds the side-eye over China dealings                        <\/a>\r\n                    <\/h3>\r\n\r\n      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data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"1346.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2023\/11\/1346.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2023\/11\/1346.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-610698\" class=\"content-area-description single-story post-610698 post type-post status-publish format-standard has-post-thumbnail hentry category-planet-finance tag-china tag-enterpriseam tag-eu tag-financial-markets tag-interest-rates tag-planet-finance tag-turkey 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\/.e32d504e-878a-4feb-8c92-d07acdfee30e.mp3\"><\/audio><\/figure><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"> <strong>US cracks down on Beijing influence via Middle East deals: <\/strong>Gulf sovereign wealth funds undertaking acquisitions in the US are being investigated for their ties to China, writes <a target=\"_blank\" href=\"https:\/\/www.bloomberg.com\/news\/articles\/2023-11-24\/mideast-wealth-funds-draw-greater-us-scrutiny-over-china-ties?srnd=premium-middle-east\" style=\"\" rel=\"noopener\">Bloomberg<\/a>, citing anonymous sources reportedly close to the deals. Abu Dhabi\u2019s Mubadala Authority and Saudi Arabia\u2019s Public Investment Fund are reportedly under review by members of President Joe Biden\u2019s cabinet on concerns that they pose a national security risk. Beijing\u2019s push to strengthen political ties in the Middle Eastern region comes as Gulf funds have funneled USD 2.3 bn into the Asian country, prompting \u201cincreased sensitivity\u201d within the Biden administration and leading the Committee of Foreign Investments in the US to step up its enquiries.<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>ALSO WORTH NOTING-<\/strong><\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Huge rate hike in Turkey:<\/strong> The Turkish central bank hiked interest rates by 500 bps to 40% on Thursday, double what was projected by analysts, as policymakers lok to get a grip on soaring inflation and a weakening currency. (<a target=\"_blank\" href=\"https:\/\/www.bloomberg.com\/news\/articles\/2023-11-23\/turkey-s-central-bank-outdoes-forecasts-with-big-rate-hike\" style=\"\" rel=\"noopener\">Bloomberg<\/a>)<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Wobbly EU banks:<\/strong> Eurozone banks are showing \u201cearly signs of stress\u201d as default rates and late payments rise from historical lows. (European Central Bank <a target=\"_blank\" href=\"https:\/\/ent.news\/2023\/11\/1341.pdf\" style=\"\" rel=\"noopener\">Financial Stability Review, pdf<\/a>).<\/p><p><a target=\"_blank\" id=\"t.48e48e2ea2405672366439aa2256ae65033eede6\" rel=\"noopener\"><\/a><a target=\"_blank\" id=\"t.0\" rel=\"noopener\"><\/a> <\/p><div class=\"stock-ticker-panel\">\n<table class=\"table stock-ticker-table table-striped markets-table\">\n<tbody>\n<tr class=\"tr-row-up\">\n<td class=\"td-list-up\">\n<p><svg class=\"e-icon e-TypeMarkets11\"><use xlink:href=\"#e-TypeMarkets11\"><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>EGX30 <\/strong><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">25,519<\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">+2.0% (YTD: +74.8%)<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-none\">\n<td class=\"td-list-none\">\n<p><svg class=\"e-icon e-TypeMarkets\"><use xlink:href=\"#e-TypeMarkets\"><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>USD (CBE)<\/strong><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">Buy 30.83<\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">Sell 30.96<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-none\">\n<td class=\"td-list-none\">\n<p><svg class=\"e-icon e-TypeMarkets\"><use xlink:href=\"#e-TypeMarkets\"><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>USD at CIB<\/strong><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">Buy 30.85<\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">Sell 30.95<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-none\">\n<td class=\"td-list-none\">\n<p><svg class=\"e-icon e-TypeMarkets\"><use xlink:href=\"#e-TypeMarkets\"><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>Interest rates CBE<\/strong><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">19.25% deposit<\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">20.25% lending<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-down\">\n<td class=\"td-list-down\">\n<p><svg class=\"e-icon e-TypeMarkets1\"><use xlink:href=\"#e-TypeMarkets1\"><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>Tadawul<\/strong><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">11,078<\/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: +5.7%)<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-up\">\n<td class=\"td-list-up\">\n<p><svg class=\"e-icon e-TypeMarkets11\"><use xlink:href=\"#e-TypeMarkets11\"><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>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\">9,555<\/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: -6.4%)<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-up\">\n<td class=\"td-list-up\">\n<p><svg class=\"e-icon e-TypeMarkets11\"><use xlink:href=\"#e-TypeMarkets11\"><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>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\">3,992<\/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: +19.7%)<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-up\">\n<td class=\"td-list-up\">\n<p><svg class=\"e-icon e-TypeMarkets11\"><use xlink:href=\"#e-TypeMarkets11\"><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>S&amp;P 500<\/strong><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">4,559<\/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: +18.8%)<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-up\">\n<td class=\"td-list-up\">\n<p><svg class=\"e-icon e-TypeMarkets11\"><use xlink:href=\"#e-TypeMarkets11\"><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>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\">7,448<\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">+0.1% (YTD: +0.5%)<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-up\">\n<td class=\"td-list-up\">\n<p><svg class=\"e-icon e-TypeMarkets11\"><use xlink:href=\"#e-TypeMarkets11\"><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>Euro Stoxx 50<\/strong><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">4,372<\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">+0.3% (YTD: +15.3%)<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-down\">\n<td class=\"td-list-down\">\n<p><svg class=\"e-icon e-TypeMarkets1\"><use xlink:href=\"#e-TypeMarkets1\"><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>Brent crude<\/strong><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">USD 80.58<\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">-1.0%<\/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 2.86<\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">-1.5%<\/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 2,023.50<\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">+0.5%<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-down\">\n<td class=\"td-list-down\">\n<p><svg class=\"e-icon e-TypeMarkets1\"><use xlink:href=\"#e-TypeMarkets1\"><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>BTC<\/strong><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">USD 37,807<\/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: +128.8%)<\/p>\n<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<\/div><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>THE CLOSING BELL-<\/strong><\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The EGX30 rose 2.0% at Thursday\u2019s close<\/strong> on turnover of EGP 4.6 bn (66.5% above the 90-day average). Local investors were net sellers. The index is up 74.8% YTD.<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>In the green: <\/strong>Juhayna (+7.6%), Credit Agricole (+6.2%) and CIB (+5.1%).<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>In the red: <\/strong>Talaat Moustafa Group (-2.0%), Eastern Company (-1.2%) and Madinet Masr (-0.8%). <\/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\/china\/\">China<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/eu\/\">EU<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/financial-markets\/\">Financial Markets<\/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\/planet-finance\/\">Planet Finance<\/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=\"610700\" 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\/26\/610700\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-610700\" class=\"content-area-description single-story post-610700 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>30 November (Thursday): OPEC+ Ministerial Meeting takes place virtually.<\/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 style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/www.cop28.com\/\" style=\"\">COP28<\/a><\/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\">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>14 December (Thursday): <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/tinyurl.com\/55mr8mmn\" style=\"\">Bidding deadline<\/a><\/span><span> for five gold mine concessions in the Eastern Desert.<\/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;\">FRA to announce chosen consortium for credit rating license<\/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;\">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;\">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>The Grand Egyptian Museum could be officially open to visitors some time between February and May 2024 .<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span>Q1 2024: Opening of the newly 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: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\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>Pay VAT in FX | 5 days til\u2019 COP | Expats go to polls next week | Day 3 of Gaza truce.<\/p>\n","protected":false},"featured_media":610672,"menu_order":0,"template":"","categories":[],"tags":[],"class_list":["post-610671","issue","type-issue","status-publish","has-post-thumbnail","hentry","wpautop","entry"],"acf":{"mongo_id":"fa269e70-cc7a-4c20-b9b7-7cc29851b147","teaser":"Pay VAT in FX | 5 days til\u2019 COP | Expats go to polls next week | Day 3 of Gaza truce.","photo_url":"https:\/\/ent.news\/2023\/11\/1357.jpg"},"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v27.1 (Yoast SEO v27.1.1) - https:\/\/yoast.com\/product\/yoast-seo-premium-wordpress\/ -->\n<title>Egypt looks set to resume LNG exports - 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\" 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